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Nonprofiteer
← NEWBERRY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by NEWBERRY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$58,676,656
Total expenses
$58,649,684
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,549,176
Investment income
$77,841
Other revenue
$49,639
Total assets, end of year
$121,049,238
Total liabilities, end of year
$89,732,122
Net assets or fund balances, end of year
$31,317,116
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $55,519,070 · related or exempt $55,519,070

  • 2b · Program service revenue: POLE RENTAL

    total $2,469,426 · excluded $2,469,426

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $315,894 · related or exempt $315,894

  • 2d · Program service revenue: G & T CAPITAL CREDITS

    total $244,786 · related or exempt $244,786

  • 3 · Investment income

    total $77,841 · excluded $77,841

  • 11a · Other revenue: NONMEMBER FIBER ACCESS

    total $49,639 · unrelated business $49,639

  • 11e · Other revenue, total

    $49,639

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $768,400

  • 5 · Compensation of officers, directors and key employees

    total $757,251

  • 20 · Interest

    total $3,085,467

  • 22 · Depreciation, depletion and amortization

    total $3,764,908

  • 24a · Other expenses: PURCHASED POWER

    total $38,006,397

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,406,611

  • 24c · Other expenses: OPERATING TAXES

    total $2,887,541

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $2,527,689

  • 24e · All other expenses

    total $2,445,420

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,281,198 · end of year $2,466,685

  • 2 · Savings and temporary cash investments

    beginning of year $64,377 · end of year $66,794

  • 4 · Accounts receivable

    beginning of year $3,585,932 · end of year $4,222,770

  • 8 · Inventories for sale or use

    beginning of year $1,685,229 · end of year $1,328,258

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,481,010 · end of year $7,304,502

  • 10a · Land, buildings and equipment: cost or other basis

    $145,128,349

  • 10b · Land, buildings and equipment: accumulated depreciation

    $45,736,342

  • 10c · Land, buildings and equipment, net

    beginning of year $93,769,418 · end of year $99,392,007

  • 13 · Investments: program-related

    beginning of year $5,734,177 · end of year $6,263,479

  • 15 · Other assets

    beginning of year $4,743 · end of year $4,743

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,865,642 · end of year $4,585,831

  • 23 · Secured mortgages and notes payable

    beginning of year $75,719,292 · end of year $83,144,098

  • 25 · Other liabilities

    beginning of year $3,716,767 · end of year $2,002,193

  • 29 · Capital stock, trust principal or current funds

    beginning of year $49,760 · end of year $50,270

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,254,623 · end of year $31,266,846

Mission and programs · 2025

Mission

TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT THE LOWEST PRICE CONSISTENT WITH HIGHEST STANDARDS OF SERVICE.

Activities or mission (Part I)

TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2025 return.

Listed in Part VII

  • Johnnie L Dickert

    CHAIRMAN

    Total calculated
    $37,054
    From this org
    $37,054
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William B Lominick Sr

    VICE CHAIRMA

    Total calculated
    $28,802
    From this org
    $28,802
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • John Wayne Nichols

    SECRETARY/TR

    Total calculated
    $32,270
    From this org
    $32,270
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.25

  • Douglas E Hipp

    DIRECTOR

    Total calculated
    $32,316
    From this org
    $32,316
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J Craig Kesler

    DIRECTOR

    Total calculated
    $44,211
    From this org
    $44,211
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Leon Fulmer Jr

    DIRECTOR

    Total calculated
    $26,882
    From this org
    $26,882
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Blake Brigman

    DIRECTOR

    Total calculated
    $30,911
    From this org
    $30,911
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Melanie B Hawkins

    DIRECTOR

    Total calculated
    $39,461
    From this org
    $39,461
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Barbara C Bishop

    DIRECTOR

    Total calculated
    $35,281
    From this org
    $35,281
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • George Keith Avery

    PRESIDENT AN

    Total calculated
    $450,063
    From this org
    $330,018
    From related orgs
    $0
    Other
    $120,045
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $303,176
    Bonus
    $9,290
    Other
    $17,552
    Deferred
    $118,639
    Nontaxable benefits
    $1,406
    Filer's total
    $450,063

  • Kevin Shull

    VP-ENGINEERI

    Total calculated
    $250,527
    From this org
    $178,493
    From related orgs
    $0
    Other
    $72,034
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,742
    Bonus
    $5,096
    Other
    $3,655
    Deferred
    $72,034
    Nontaxable benefits
    not reported
    Filer's total
    $250,527

  • Arthur Guy

    VP-FINANCE,

    Total calculated
    $238,765
    From this org
    $170,351
    From related orgs
    $0
    Other
    $68,414
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,651
    Bonus
    $4,806
    Other
    $5,894
    Deferred
    $67,938
    Nontaxable benefits
    $476
    Filer's total
    $238,765

  • Leann Hutto

    VP-HUMAN RES

    Total calculated
    $187,954
    From this org
    $129,385
    From related orgs
    $0
    Other
    $58,569
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $124,989
    Bonus
    $3,868
    Other
    $528
    Deferred
    $54,680
    Nontaxable benefits
    $3,889
    Filer's total
    $187,954

  • Robert Shealy

    VP-OPERATION

    Total calculated
    $175,719
    From this org
    $120,631
    From related orgs
    $0
    Other
    $55,088
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $115,477
    Bonus
    $3,594
    Other
    $1,560
    Deferred
    $50,797
    Nontaxable benefits
    $4,291
    Filer's total
    $175,719

  • Stephanie Sullivan

    VP-OPERATION

    Total calculated
    $181,902
    From this org
    $124,875
    From related orgs
    $0
    Other
    $57,027
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $118,232
    Bonus
    $3,695
    Other
    $2,948
    Deferred
    $52,231
    Nontaxable benefits
    $4,796
    Filer's total
    $181,902

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • NEWBERRY ELECTRIC FIBER LLC

    BROADBAND · SC · income $49,639 · assets $26,972

    Directly controlled by NEC

Provenance

Return type
form_990
Tax year
2025
Filed
4 May 2026
IRS schema version
2025v4.0
Source object
202621249349302157

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