![]() Walton EMC is a cooperative, meaning customers own the company. Approximately 108,000 customer-owners who had accounts in 1987 and/or 2012 are receiving a refund. Mission: Exceeding the expectations of those we serve at every opportunity. The cooperatives board again voted to refund 3 million in capital credits this December, bringing the total for the last 26 years to 49 million. If you need new power line construction to your home, please read these Wiring Requirements very carefully and share the information with your electrical contractor before he starts work. Click below to access the booklet.įlint Energies provides a number of informational brochures that may be downloaded or printed from the web. Section Situation Limitation Period and Amount 6511(a) Period of limitation on filing claim for refund. They state what we expect of you as a Flint EMC member and what you can expect from the Cooperative. Exhibit B - RC Refund Claims Limitation Periods (Published 5/2008) I.R.C. The Rules and Regulations and Bylaws are a contract between Flint Electric Membership Corporation d/b/a Flint Energies and members who receive its electric service. A request form may also be downloaded at the cooperative’s website: Tideland EMC serves 22,500 accounts in Beaufort, Hyde, Washington, Pamlico, Craven and Dare counties.Flint Energies Service Rules & Regulations and Bylaws In the case of a deceased member, the estate executor or clerk of clerk should contact the cooperative at 1-80 to request a refund application. Unclaimed capital credits are eventually forwarded to North Carolina Escheats at the State Treasurer’s office. The WPCA credit for the past 24 months has averaged just under $5 per 1,000 kilowatt hours purchased. In addition to capital credit refunds, Tideland EMC members have reaped the benefits of a wholesale power cost adjustment (WPCA) credit issued monthly since January 2013. Department of Agriculture’s Rural Utilities Service. The decision to retire capital credits is based on the co-op meeting financial performance goals as established by the U.S. Flint Energies has refunded more than 65 million in capital credits from our beginning in 1937 through 1998 to our Members. Since 1993, Tideland EMC has returned more than $9.3 million in capital credits to its membership.ĭuring the period of time that capital credits are retained, Tideland EMC reinvests those funds in system improvements thus reducing the co-op’s borrowing costs. The amount returned to an individual member is based on the total amount they paid for electricity during the year for which the refund is made. Therefore, any funds remaining after all expenses have been paid are eventually returned to Tideland members and former members through a series of capital credit refunds. ![]() Tideland EMC is a member-owned cooperative providing electric utility service at cost. ![]() Additional retirements totaling more than $263,500 were paid to the estates of deceased co-op members. Sign in or create an account to view Form (s) 9, 20. Depending on the size of the refund and individual account status, members will receive their refund either as a December electric bill credit or in the form of a check. 58-0456574 NTEE code info Benevolent Life Insurance Association, Mutual Irrigations and Telephone Companies, and Like Organizations (Y22) IRS filing requirement This organization is required to file an IRS Form 990 or 990-EZ. The total is composed of two types of refunds: a general retirement and retirement to the estates of deceased members. The general retirement of $288,500 was authorized by the electric co-op’s board of directors. Pantego-For fiscal year 2014, Tideland Electric Membership Corporation will return 552,000 in capital credits to members and former members of the not-for-profit cooperative. Members who received electric service from the cooperative during the years 19 were included in the general retirement that takes place this month. Pantego–For fiscal year 2014, Tideland Electric Membership Corporation will return $552,000 in capital credits to members and former members of the not-for-profit cooperative.
0 Comments
Leave a Reply. |