Union Power Cooperative

Legal name: Union Electric Membership Corp

Nonprofit profile at a glance

EIN
560435549
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Monroe, NC, USA
Phone
(800) 794-4423
Rating
45
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$204,861,227
Expenses
$203,629,298
Assets
$511,952,330
Liabilities
$283,642,546

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • DENT H TURNER (PRESIDENT)

Highest reported compensation

  • GREGORY S ANDRESS (EVP VP & GEN): $1,168,963 total reported compensation
  • DAVID GROSS (VP ENG & OPE): $525,912 total reported compensation
  • THERESA BLACKWELL (VP FIN & ACC): $515,761 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 enhance the quality of life of our members and the communities we serve by delivering on our promise to provide safe, reliable electric power and energy services with exceptional value.

What it reported doing in 2024

Safe and effective distribution of electricity to the members of union emc. The corporation's three largest program services, as measured by expenses are as follows: cost of power 127,799,254 depreciation expense 16,075,105 salaries 14,448,154

Operating model

Revenue model
Earned-program. 99% 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: 70
  • Accountability: 95
  • Sustainability: 48
  • 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: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 44.3%; rating input score 44; 9th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

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: 0.6%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 2.51; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 1.9%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.7% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 40th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.2M · 17 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $10.8M reported
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 44/100.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.