Lumbee River EMC
Legal name: Lumbee River Elec Membership Corp
Nonprofit profile at a glance
- EIN
- 560305124
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Pembroke, NC, US
- Phone
- 800-683-5571
- Rating
- 49
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $169,560,200
- Expenses
- $170,690,428
- Assets
- $419,587,831
- Liabilities
- $251,803,355
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- JON T LOCKLEAR (PRESIDENT &)
Highest reported compensation
- STEVEN DAVIS (VP INFO TECH): $332,942 total reported compensation
- JON T LOCKLEAR (PRESIDENT &): $332,923 total reported compensation
- RUBY QUICK (VP MEMBER SR): $275,501 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide reliable, affordable electric service and enhance the quality of life for our member-owners.
What it reported doing in 2024
Safe and effective distribution of electricity to the members of lremc. The three largest program services, as measured by expenses, were as follows: cost of power: 113,124,641 depreciation: 13,404,117 salaries: 11,757,994
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 83
- Accountability: 95
- Sustainability: 43
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.7%; rating input score 24; 24th percentile among comparable filings
- Total-asset coverage ratio: 2.46; rating input score 70; 70th percentile among comparable filings
- Liabilities to assets ratio: 0.6; rating input score 28; 28th percentile among comparable filings
- Officer compensation ratio: 1.2%; rating input score 70; 70th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.9% per year; rating input score 100; 13th percentile among comparable filings
- Asset growth: 4.7% per year; rating input score 100; 34th percentile among comparable filings
Details
- What they do: 15 programs and campaigns described on the official site · 5 operating locations identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $333K · 20 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $13.7M reported
- Consistency: 12 of 13 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 20 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Sustainability: Operating margin scored 24/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 28/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.