Totals
- Total revenue
- $70,674,045
- Total expenses
- $74,541,812
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $73,325,245
- Investment income
- $102,948
- Other revenue
- -$2,754,148
- Total assets, end of year
- $372,979,249
- Total liabilities, end of year
- $229,066,383
- Net assets or fund balances, end of year
- $143,912,866
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $75,612,590
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 DISTRIBUTION SERVICE
total $71,085,545 · related or exempt $71,085,545
-
2b · Program service revenue: PATRONAGE CAPITAL CREDITS
total $2,239,700 · related or exempt $2,239,700
-
3 · Investment income
total $102,948 · excluded $102,948
-
11a · Other revenue: OTHER INCOME
total $1,113,619 · excluded $1,113,619
-
11b · Other revenue: SUBSIDIARY INCOME (LOSS)
total -$3,867,767 · excluded -$3,867,767
-
11e · Other revenue, total
-$2,754,148
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $5,103,060
-
7 · Other salaries and wages
total $5,535,670
-
12 · Advertising and promotion
total $452,591
-
13 · Office expenses
total $212,112
-
20 · Interest
total $9,179,210
-
22 · Depreciation, depletion and amortization
total $8,941,115
-
24a · Other expenses: PURCHASED POWER
total $20,815,813
-
24b · Other expenses: DISTRIBUTION MAINTENANCE
total $8,089,827
-
24c · Other expenses: DISTRIBUTION OPERATIONS
total $7,483,084
-
24d · Other expenses: ADMIN & GENERAL EXPENSES
total $5,910,853
-
24e · All other expenses
total $2,818,477
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $251,555 · end of year $3,891,909
-
4 · Accounts receivable
beginning of year $6,187,420 · end of year $53,922,428
-
8 · Inventories for sale or use
beginning of year $4,291,837 · end of year $5,391,234
-
9 · Prepaid expenses and deferred charges
beginning of year $476,457 · end of year $756,859
-
10a · Land, buildings and equipment: cost or other basis
$388,914,364
-
10b · Land, buildings and equipment: accumulated depreciation
$137,909,678
-
10c · Land, buildings and equipment, net
beginning of year $200,947,877 · end of year $251,004,686
-
12 · Investments: other securities
end of year $7,204,720
-
13 · Investments: program-related
beginning of year $2,000 · end of year $17,090,386
-
15 · Other assets
beginning of year $631,039 · end of year $33,717,027
-
17 · Accounts payable and accrued expenses
beginning of year $9,888,912 · end of year $24,627,044
-
23 · Secured mortgages and notes payable
beginning of year $141,706,293 · end of year $172,024,774
-
25 · Other liabilities
beginning of year $4,195,087 · end of year $32,414,565
-
31 · Retained earnings, endowment or other funds
beginning of year $56,997,893 · end of year $143,912,866
Mission and programs · 2023
Mission
FROM 1/1/23 - 11/10/23: PROVIDING ELECTRICITY DISTRIBUTION SERVICES TO ITS TWO SEC. 501(C)(12) MEMBERS. FROM 11/10/23 - 12/31/23: PROVIDING COMPLETE ELECTRIC SERVICE TO THE FORMER MEMBERS OF PEE DEE ELECTRIC COOPERATIVE AND MARLBORO ELECTRIC COOPERATIVE. SEE SCH O AND MERGER DOCUMENTS ATTACHED.
-
TO PROVIDE ELECTRICITY DISTRIBUTION SERVICES TO ITS TWO SEC. 501(C)(12) MEMBERS.
Expenses $41,168,492
-
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Expenses $34,444,098
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
William L Fleming JrWILLIAM L FLEMING JR
PRESIDENT (C
- Total calculated
- $570,863
- From this org
- $570,863
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $570,863
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $570,863
-
Paul ConwayPAUL CONWAY
OFFICER
- Total calculated
- $499,881
- From this org
- $499,881
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $499,881
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $499,881
-
Annie CrowleyANNIE CROWLEY
CFO
- Total calculated
- $383,663
- From this org
- $383,663
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $383,663
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $383,663
-
Jeffrey B SingletaryJEFFREY B SINGLETARY
OFFICER
- Total calculated
- $352,299
- From this org
- $352,299
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $352,299
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $352,299
-
Lori A StuckeyLORI A STUCKEY
CHIEF CONSUM
- Total calculated
- $347,123
- From this org
- $347,123
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $347,123
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $347,123
-
Jessica MasonJESSICA MASON
VP, ACCOUNTI
- Total calculated
- $345,595
- From this org
- $345,595
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $345,595
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $345,595
-
Robert B FlemingROBERT B FLEMING
CHIEF OPERAT
- Total calculated
- $345,594
- From this org
- $345,594
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $226,979
- Bonus
- $118,615
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $345,594
-
Sam P McInnis JrSAM P MCINNIS JR
VICE CHAIRMA
- Total calculated
- $17,543
- From this org
- $17,543
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Donald Jeff QuickDONALD JEFF QUICK
DIRECTOR
- Total calculated
- $16,941
- From this org
- $16,941
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Lee C WhiteLEE C WHITE
DIRECTOR
- Total calculated
- $16,906
- From this org
- $16,906
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
David HowellDAVID HOWELL
DIRECTOR
- Total calculated
- $15,740
- From this org
- $15,740
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
John AlfordJOHN ALFORD
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Melvin CaraboMELVIN CARABO
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Preston GaineyPRESTON GAINEY
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
James A GoodsonJAMES A GOODSON
CHAIRMAN
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Edgar GordonEDGAR GORDON
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Robert NortonROBERT NORTON
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Hamer ParnellHAMER PARNELL
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
W Ronald QuickW RONALD QUICK
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
William F Buster RogersWILLIAM F BUSTER ROGERS
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Janelle SaulsJANELLE SAULS
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
F Lashon SellersF LASHON SELLERS
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Ricky SmithRICKY SMITH
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Don R TealDON R TEAL
DIRECTOR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Patrick Ann ToneyPATRICK ANN TONEY
SECRETARY/TR
- Total calculated
- $14,750
- From this org
- $14,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Jamie T GrantJAMIE T GRANT
DIRECTOR
- Total calculated
- $7,350
- From this org
- $7,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
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 · Form 990 of other organizations
- 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.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MARLBORO DEVELOPMENT TEAM
DEVELOPMEN · SC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541209349303409
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.