Skip to content
Nonprofiteer
← MARLBORO ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by MARLBORO ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$78,601,633
Total expenses
$78,601,633
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,766,133
Investment income
$97,172
Other revenue
-$1,261,672
Total assets, end of year
$61,965,367
Total liabilities, end of year
$21,122,130
Net assets or fund balances, end of year
$40,843,237
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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 $78,396,557 · related or exempt $78,396,557 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Patronage Capital Credits

    total $1,369,576 · related or exempt $1,369,576 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $97,172 · related or exempt $0 · unrelated business $0 · excluded $97,172

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Subsidiary Earnings

    total -$1,261,672 · related or exempt $0 · unrelated business $0 · excluded -$1,261,672

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    -$1,261,672

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,216,271

  • 20 · Interest

    total $544,684

  • 22 · Depreciation, depletion and amortization

    total $1,169,073

  • 24a · Other expenses: Purchased Power

    total $57,003,788

  • 24b · Other expenses: Admin and General

    total $5,743,321

  • 24c · Other expenses: Distribution Operations

    total $5,024,067

  • 24d · Other expenses: Distribution Maintenance

    total $3,853,384

  • 24e · All other expenses

    total $1,047,045

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,172,045 · end of year $1,953,278

  • 4 · Accounts receivable

    beginning of year $7,848,748 · end of year $29,237,750

  • 8 · Inventories for sale or use

    beginning of year $390,230 · end of year $80,625

  • 9 · Prepaid expenses and deferred charges

    beginning of year $776,065 · end of year $708,686

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

    $6,667,722

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

    $2,662,019

  • 10c · Land, buildings and equipment, net

    beginning of year $66,950,143 · end of year $4,005,703

  • 12 · Investments: other securities

    beginning of year $1,839,493 · end of year $20,246,250

  • 13 · Investments: program-related

    beginning of year $4,900,287 · end of year $5,710,719

  • 15 · Other assets

    end of year $22,356

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,509,273 · end of year $5,817,038

  • 23 · Secured mortgages and notes payable

    beginning of year $41,214,254 · end of year $4,273,842

  • 25 · Other liabilities

    beginning of year $4,224,578 · end of year $11,031,250

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $36,928,906 · end of year $40,843,237

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • Donald J Quick

    Sec Treasurer

    Total calculated
    $40,604
    From this org
    $40,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Sam P McInnis Jr

    Chairman

    Total calculated
    $40,117
    From this org
    $40,117
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Edgar M Gordon

    Trustee

    Total calculated
    $24,503
    From this org
    $24,503
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • William M Carabo

    Trustee

    Total calculated
    $22,378
    From this org
    $22,378
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John M Alford

    Vice Chairman

    Total calculated
    $21,953
    From this org
    $21,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Janelle C Sauls

    Trustee

    Total calculated
    $21,953
    From this org
    $21,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Charles R Smith

    Trustee

    Total calculated
    $21,953
    From this org
    $21,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • William R Quick

    Trustee

    Total calculated
    $21,953
    From this org
    $21,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James T Grant

    Trustee

    Total calculated
    $21,953
    From this org
    $21,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • William L Fleming Jr

    Pres CEO MECI

    Total calculated
    $0
    Hours/week
    50

  • William L Fleming Jr

    Mgt Co Pres CEO

    Total calculated
    $0
    Hours/week
    0 + 50 related

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.

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 Inc

    C · Development · SC · 100% owned · share of income -$1,261,672 · share of assets $82,159,177 · controlled entity

    Directly controlled by Marlboro Electric Cooperative Inc

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343199349312069

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.