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Nonprofiteer
← EDISTO ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by EDISTO ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$69,615,546
Total expenses
$69,615,546
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$66,808,719
Investment income
$2,806,827
Other revenue
$0
Total assets, end of year
$253,987,794
Total liabilities, end of year
$209,213,185
Net assets or fund balances, end of year
$44,774,609
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 SERVICE REVENUE

    total $65,817,619 · related or exempt $65,817,619

  • 2b · Program service revenue: CAPITAL CREDITS

    total $454,091 · related or exempt $454,091

  • 2c · Program service revenue: OTHER REVENUE

    total $348,357 · related or exempt $348,357

  • 2d · Program service revenue: POLE RENTAL

    total $188,652 · excluded $188,652

  • 3 · Investment income

    total $2,806,827 · excluded $2,806,827

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,669,402

  • 5 · Compensation of officers, directors and key employees

    total $838,787

  • 20 · Interest

    total $1,983,461

  • 22 · Depreciation, depletion and amortization

    total $4,606,436

  • 24a · Other expenses: PURCHASED POWER

    total $38,571,002

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $7,283,919

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $4,769,206

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

    total $4,056,749

  • 24e · All other expenses

    total $3,836,584

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,347,753 · end of year $8,177,579

  • 2 · Savings and temporary cash investments

    beginning of year $24,024,594 · end of year $107,565,968

  • 4 · Accounts receivable

    beginning of year $8,174,361 · end of year $7,203,777

  • 7 · Other notes and loans receivable

    end of year $278,967

  • 8 · Inventories for sale or use

    beginning of year $2,540,159 · end of year $2,497,568

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,226 · end of year $48,645

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

    $183,298,641

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

    $64,141,293

  • 10c · Land, buildings and equipment, net

    beginning of year $98,951,136 · end of year $119,157,348

  • 13 · Investments: program-related

    beginning of year $6,334,283 · end of year $6,980,138

  • 15 · Other assets

    beginning of year $1,781,526 · end of year $2,077,804

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,321,183 · end of year $12,647,251

  • 19 · Deferred revenue

    beginning of year $2,607,918 · end of year $1,018,273

  • 23 · Secured mortgages and notes payable

    beginning of year $65,202,245 · end of year $62,291,643

  • 25 · Other liabilities

    beginning of year $50,525,611 · end of year $133,256,018

  • 29 · Capital stock, trust principal or current funds

    beginning of year $83,258 · end of year $83,458

  • 31 · Retained earnings, endowment or other funds

    beginning of year $42,451,823 · end of year $44,691,151

Mission and programs · 2025

Mission

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.

  • 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.

As filed on the 2025 return.

Listed in Part VII

  • David E Felkel

    PRESIDENT &

    Total calculated
    $531,544
    From this org
    $363,558
    From related orgs
    $0
    Other
    $167,986
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $363,558
    Bonus
    not reported
    Other
    not reported
    Deferred
    $132,965
    Nontaxable benefits
    $35,021
    Filer's total
    $531,544

  • Lawrence C Smoak III

    VP OF OPERAT

    Total calculated
    $284,485
    From this org
    $181,725
    From related orgs
    $0
    Other
    $102,760
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,725
    Bonus
    not reported
    Other
    not reported
    Deferred
    $68,652
    Nontaxable benefits
    $34,108
    Filer's total
    $284,485

  • Robert D Bessinger

    VP OF FINANC

    Total calculated
    $283,313
    From this org
    $180,879
    From related orgs
    $0
    Other
    $102,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,879
    Bonus
    not reported
    Other
    not reported
    Deferred
    $68,477
    Nontaxable benefits
    $33,957
    Filer's total
    $283,313

  • Daniel C Eubanks

    VP OF ENGINE

    Total calculated
    $278,158
    From this org
    $177,045
    From related orgs
    $0
    Other
    $101,113
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,045
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,992
    Nontaxable benefits
    $34,121
    Filer's total
    $278,158

  • Brian C Hefner

    VP OF MEMBER

    Total calculated
    $252,298
    From this org
    $160,408
    From related orgs
    $0
    Other
    $91,890
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,408
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,769
    Nontaxable benefits
    $34,121
    Filer's total
    $252,298

  • Michael C Kinard

    OPS. SUPERVI

    Total calculated
    $211,795
    From this org
    $128,956
    From related orgs
    $0
    Other
    $82,839
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,956
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,556
    Nontaxable benefits
    $33,283
    Filer's total
    $211,795

  • Jack G Vallentine III

    TRUSTEE

    Total calculated
    $47,255
    From this org
    $47,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Douglas A Reeves

    CHAIRMAN

    Total calculated
    $42,833
    From this org
    $42,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Stanley M Funchess

    TRUSTEE

    Total calculated
    $42,609
    From this org
    $42,609
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Christopher P Sandifer

    TRUSTEE

    Total calculated
    $42,323
    From this org
    $42,323
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael T Hollingsworth

    TRUSTEE

    Total calculated
    $42,171
    From this org
    $42,171
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ervin M Mathias III

    TRUSTEE

    Total calculated
    $41,709
    From this org
    $41,709
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mary F Nimmons

    TRUSTEE

    Total calculated
    $25,055
    From this org
    $25,055
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • R Wayne Welch

    VICE CHAIRMA

    Total calculated
    $10,961
    From this org
    $10,961
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Travis Owens Burbage

    TRUSTEE

    Total calculated
    $6,689
    From this org
    $6,689
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • F Pickens Williams

    SEC./TREASUR

    Total calculated
    $5,638
    From this org
    $5,638
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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.

Provenance

Return type
form_990
Tax year
2025
Filed
4 June 2026
IRS schema version
2025v4.0
Source object
202621569349300707

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