Form 990 for tax year 2023
Filed by ELECTRIC COOPERATIVES OF SOUTH CAROLINA.
Totals
- Total revenue
- $13,666,138
- Total expenses
- $13,302,249
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $11,675,169
- Investment income
- $346,726
- Other revenue
- $1,644,243
- Total assets, end of year
- $4,773,863
- Total liabilities, end of year
- $888,246
- Net assets or fund balances, end of year
- $3,885,617
- Program services expenses (Part IX)
- $13,302,249
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $13,302,249
Program services were 100.0% 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: MEMBERSHIP DUES
total $10,625,851 · related or exempt $10,625,851
-
2b · Program service revenue: SC LIVING - COMMUNICATIONS
total $1,049,318 · unrelated business $1,049,318
-
3 · Investment income
total $346,726 · related or exempt $346,724 · excluded $2
-
11a · Other revenue: MISCELLANEOUS
total $890,857 · related or exempt $890,857
-
11b · Other revenue: CREDIT UNION REIMBURSEMENT
total $662,351 · related or exempt $662,351
-
11c · Other revenue: PROF DEV - COMMUNICATIONS
total $91,035 · related or exempt $91,035
-
11e · Other revenue, total
$1,644,243
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $768,025 · program services $768,025
-
12 · Advertising and promotion
total $1,982,116 · program services $1,982,116
-
24a · Other expenses: ADMINISTRATIVE
total $3,992,872 · program services $3,992,872
-
24b · Other expenses: COMMUNICATIONS
total $2,487,863 · program services $2,487,863
-
24c · Other expenses: GOVERNMENT RELATIONS
total $2,007,211 · program services $2,007,211
-
24d · Other expenses: LOSS CONTROL AND TRAINING
total $1,647,569 · program services $1,647,569
-
24e · All other expenses
total $416,593 · program services $416,593
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,008,565 · end of year $835,708
-
2 · Savings and temporary cash investments
beginning of year $23,153 · end of year $12,422
-
4 · Accounts receivable
beginning of year $281,834 · end of year $351,210
-
9 · Prepaid expenses and deferred charges
beginning of year $113,299 · end of year $108,559
-
10a · Land, buildings and equipment: cost or other basis
$4,684,591
-
10b · Land, buildings and equipment: accumulated depreciation
$2,570,006
-
10c · Land, buildings and equipment, net
beginning of year $2,172,970 · end of year $2,114,585
-
11 · Investments: publicly traded securities
beginning of year $250,538
-
15 · Other assets
beginning of year $1,172,104 · end of year $1,351,379
-
17 · Accounts payable and accrued expenses
beginning of year $744,904 · end of year $235,853
-
25 · Other liabilities
beginning of year $755,831 · end of year $652,393
-
31 · Retained earnings, endowment or other funds
beginning of year $3,521,728 · end of year $3,885,617
Mission and programs · 2023
Mission
TO ASSIST MEMBERS OF THE CORPORATION IN PROVIDING ELECTRIC ENERGY TO CONSUMERS IN THE MEMBERS' SERVICE AREAS.
-
SEE SCHEDULE O ECSC IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO: -FOSTER, DEVELOP AND ENCOURAGE THE PROGRAM OF RURAL ELECTRIFICATION IN THE STATE OF SOUTH CAROLINA -FURTHER THE GENERAL WELFARE AND TO PROMOTE THE INTEREST OF THE MEMBERS OF ECSC; TO FURTHER THE SAFETY, STABILITY, SECURITY AND PROSPERITY OF ELECTRIC COOPERATIVES; TO AID IN SOLVING THE PROBLEMS COMMON TO ELECTRIC COOPERATIVES -DISSEMINATE INFORMATION RELATING TO THE RURAL ELECTRIFICATION PROGRAM; TO COOPERATE WITH FEDERAL, STATE AND MUNICIPAL AGENCIES IN THE PROMOTION OF RURAL ELECTRIFICATION AND NATIONAL, STATE, COMMUNITY AND RURAL DEVELOPMENT; TO PROVIDE SERVICES AND INFORMATIONAL PROGRAMS THAT WILL STIMULATE LOCAL GROWTH, STABILITY AND SECURITY AND STRENGTHEN THE ELECTRIC COOPERATIVE PROGRAM IN SOUTH CAROLINA -OTHERWISE ASSIST THE MEMBERS OF ECSC TO PROVIDE ELECTRIC ENERGY TO INHABITANTS OF MEMBER SERVICE AREAS AT THE LOWEST POSSIBLE COST CONSISTENT WITH SOUND ECONOMY -OPERATE ALWAYS FOR THE BENEFIT OF ITS MEMBER COOPERATIVES AND THROUGH THEM FOR THE BENEFIT OF THEIR CONSUMERS, DOING THOSE THINGS THROUGH ECSC THAT CAN BE DONE BETTER TOGETHER THAN INDIVIDUALLY
Expenses $13,302,249 · Revenue $11,675,169
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Theresa S HicksTHERESA S HICKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Terry W MallardTERRY W MALLARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Johnnie L DickertJOHNNIE L DICKERT
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Wterry RickettsWTERRY RICKETTS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Gary L StooksburyGARY L STOOKSBURY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Willis SandersWILLIS SANDERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Michael Mike S FullerMICHAEL MIKE S FULLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
George GibsonGEORGE GIBSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Kenneth G SoutherlinKENNETH G SOUTHERLIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jimmy Lee DodgensJIMMY LEE DODGENS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Norris R Fowler JrNORRIS R FOWLER JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Matthew Matt D StanleyMATTHEW MATT D STANLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Chad CappsCHAD CAPPS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jamey CopelandJAMEY COPELAND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Robert C HochstetlerROBERT C HOCHSTETLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Douglas ReevesDOUGLAS REEVES
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Lavern PolkLAVERN POLK
SECRETARY/TR
- Total calculated
- $0
- Hours/week
- 5
-
Mark WallingMARK WALLING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jeffrey Jeff M LewisJEFFREY JEFF M LEWIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
David FelkelDAVID FELKEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Bruce G BaconBRUCE G BACON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Derial OgburnDERIAL OGBURN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Daniel B Shelley IIIDANIEL B SHELLEY III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ronald H FloydRONALD H FLOYD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Marcus E CookMARCUS E COOK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Todd CarterTODD CARTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Vince FurtickVINCE FURTICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Brian W BroughtonBRIAN W BROUGHTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Donette B KirklandDONETTE B KIRKLAND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
B Robert PaullingB ROBERT PAULLING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
James L LovinggoodJAMES L LOVINGGOOD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Robert W Bobby SmithROBERT W BOBBY SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jack G Vallentine IIIJACK G VALLENTINE III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Keith AveryKEITH AVERY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
D Terrell SmithD TERRELL SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
A Berl Davis JrA BERL DAVIS JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Don E CokerDON E COKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Robert Rob G Ardis IIIROBERT ROB G ARDIS III
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Chad T LowderCHAD T LOWDER
VICE CHAIRMA
- Total calculated
- $0
- Hours/week
- 5
-
William T RobinsonWILLIAM T ROBINSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Tommie BrattonTOMMIE BRATTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
E Paul BashaE PAUL BASHA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Michael CouickMICHAEL COUICK
PRESIDENT &
- Total calculated
- $768,025
- From this org
- $601,734
- From related orgs
- $0
- Other
- $166,291
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $526,103
- Bonus
- $61,190
- Other
- $14,441
- Deferred
- $150,381
- Nontaxable benefits
- $15,910
- Filer's total
- $768,025
-
Peggy DantzlerPEGGY DANTZLER
VP - LC & TR
- Total calculated
- $262,161
- From this org
- $178,667
- From related orgs
- $0
- Other
- $83,494
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $171,345
- Bonus
- $4,303
- Other
- $3,019
- Deferred
- $78,644
- Nontaxable benefits
- $4,850
- Filer's total
- $262,161
-
Chris KoonCHRIS KOON
SR VP-GEN CO
- Total calculated
- $396,232
- From this org
- $267,281
- From related orgs
- $0
- Other
- $128,951
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $263,110
- Bonus
- $2,778
- Other
- $1,393
- Deferred
- $120,165
- Nontaxable benefits
- $8,786
- Filer's total
- $396,232
-
John FrickJOHN FRICK
VP-GOVN RELA
- Total calculated
- $392,376
- From this org
- $268,361
- From related orgs
- $0
- Other
- $124,015
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $264,247
- Bonus
- $2,778
- Other
- $1,336
- Deferred
- $120,165
- Nontaxable benefits
- $3,850
- Filer's total
- $392,376
-
Ann WestbrookANN WESTBROOK
CFO
- Total calculated
- $288,784
- From this org
- $190,410
- From related orgs
- $0
- Other
- $98,374
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $182,287
- Bonus
- $1,966
- Other
- $6,157
- Deferred
- $85,791
- Nontaxable benefits
- $12,583
- Filer's total
- $288,784
-
Michael SmithMICHAEL SMITH
VP- BUSINESS
- Total calculated
- $296,230
- From this org
- $192,542
- From related orgs
- $0
- Other
- $103,688
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $184,009
- Bonus
- $2,828
- Other
- $5,705
- Deferred
- $88,037
- Nontaxable benefits
- $15,651
- Filer's total
- $296,230
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 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- SCHEDULE J, PAGE 1, PART I, LINE 4
- MICHAEL COUICK 0 55,693 0
- SCHEDULE J, PART III
- OTHER REPORTABLE COMPENSATION (COLUMN B (III))INCLUDES GROUP TERM LIFE INSURANCE BENEFITS FOR AMOUNTS OVER 50,000 AND EMPLOYER PROVIDED AUTOMOBILE INCOME. RETIREMENT AND OTHER DEFERRED COMPENSATION (COLUMN C) INCLUDES EMPLOYER 401(K) MATCHING, EMPLOYER CONTRIBUTIONS TO RETIREMENT SECURITY PLAN, AND EMPLOYER CONTRIBUTIONS TO THE EXECUTIVE BENEFIT RESTORATION PLAN (EBR PLAN). NONTAXABLE BENEFITS (COLUMN D) INCLUDE EMPLOYER PAID INSURANCE PREMIUMS (HEALTH, DENTAL, ETC.), EMPLOYER AND EMPLOYEE CONTRIBUTIONS TO HEALTH SAVINGS ACCOUNTS, AND EMPLOYEE CONTRIBUTIONS TO FSA DEPENDENT CARE ACCOUNT. BOTH, COLUMN (C) AND COLUMN (D), INCLUDE BENEFITS THAT ARE NOT REPORTABLE ON W-2, 1099-MISC, OR 1099-NEC, AND THEREFORE ARE NOT SUBJECT TO THE EXCISE TAX FOR TAX-EXEMPT ORGANIZATIONS UNDER IRC SECTION 4960. THE CORPORATION REPORTED PAYMENTS MADE FOR THE EBR PLAN IN THE CURRENT YEAR AS A COMPONENT OF COMPENSATION IN COLUMN (B)(II). AMOUNTS REPORTED IN COLUMN (B)(II) FOR MICHAEL COUICK ON THE 2023 FORM 990 INCLUDE 55,693 IN EBR PLAN PAYMENTS AND HAVE BEEN DISBURSED TO COMPLY WITH IRS RULES AND IN ACCORDANCE WITH THE CORPORATION'S BOARD ADOPTED EBR PLAN.
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
- 2023
- Filed
- 9 April 2024
- IRS schema version
- 2023v5.0
- Source object
- 202411079349301556
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