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Nonprofiteer
← SANTEE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SANTEE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$137,026,293
Total expenses
$137,026,293
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$136,520,455
Investment income
$429,771
Other revenue
$76,067
Total assets, end of year
$268,330,133
Total liabilities, end of year
$172,905,216
Net assets or fund balances, end of year
$95,424,917
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 $134,490,261 · related or exempt $134,490,261

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

    total $788,611 · related or exempt $788,611

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $630,911 · related or exempt $630,911

  • 2d · Program service revenue: POLE RENTAL

    total $610,672 · excluded $610,672

  • 3 · Investment income

    total $429,771 · excluded $429,771

  • 11a · Other revenue: MISC NON-OPERATING INCOME

    total $41,275 · related or exempt $41,275

  • 11b · Other revenue: NON-OP RENTAL INC-WAREHOUSE

    total $31,800 · related or exempt $31,800

  • 11c · Other revenue: MISC NON-OP REV-VENDOR DISCOU

    total $2,992 · related or exempt $2,992

  • 11e · Other revenue, total

    $76,067

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,467,553

  • 5 · Compensation of officers, directors and key employees

    total $769,774

  • 7 · Other salaries and wages

    total $9,171,321

  • 8 · Pension plan contributions

    total $2,834,174

  • 9 · Other employee benefits

    total $5,352,895

  • 10 · Payroll taxes

    total $706,125

  • 11b · Fees: legal

    total $69,762

  • 11c · Fees: accounting

    total $79,536

  • 11g · Fees: other

    total $362,283

  • 12 · Advertising and promotion

    total $318,643

  • 13 · Office expenses

    total $240,805

  • 14 · Information technology

    total $722,415

  • 17 · Travel

    total $37,743

  • 19 · Conferences, conventions and meetings

    total $150,973

  • 20 · Interest

    total $4,374,042

  • 22 · Depreciation, depletion and amortization

    total $8,507,693

  • 23 · Insurance

    total $494,237

  • 24a · Other expenses: PURCHASED POWER

    total $90,488,574

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $5,562,648

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $4,718,839

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

    total $1,594,670

  • 24e · All other expenses

    total -$4,998,412

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,323,586 · end of year $5,294,131

  • 2 · Savings and temporary cash investments

    beginning of year $7,500,000 · end of year $16,000,000

  • 4 · Accounts receivable

    beginning of year $12,454,575 · end of year $13,086,030

  • 7 · Other notes and loans receivable

    beginning of year $1,948,314 · end of year $2,014,246

  • 8 · Inventories for sale or use

    beginning of year $2,671,699 · end of year $3,431,487

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,055,662 · end of year $420,757

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

    $285,671,598

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

    $80,843,284

  • 10c · Land, buildings and equipment, net

    beginning of year $194,756,311 · end of year $204,828,314

  • 13 · Investments: program-related

    beginning of year $12,171,102 · end of year $13,812,592

  • 15 · Other assets

    beginning of year $9,789,083 · end of year $9,442,576

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,856,448 · end of year $17,824,224

  • 23 · Secured mortgages and notes payable

    beginning of year $131,422,938 · end of year $145,767,993

  • 25 · Other liabilities

    beginning of year $11,375,673 · end of year $9,312,999

  • 29 · Capital stock, trust principal or current funds

    beginning of year $186,760 · end of year $187,255

  • 31 · Retained earnings, endowment or other funds

    beginning of year $92,828,513 · end of year $95,237,662

Mission and programs · 2022

Mission

TO PROVIDE QUALITY SERVICE AND PRODUCTS TO MEET THE ENERGY NEEDS OF OUR MEMBERS AT A COMPETITIVE PRICE CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ENHANCING THE QUALITY OF LIFE IN OUR SERVICE AREA THROUGH THE SUPPORT OF ECONOMIC, CIVIC AND EDUCATIONAL OPPORTUNITIES.

  • N/A

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Billy L Morris Jr

    CHAIRMAN

    Total calculated
    $40,156
    From this org
    $40,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Allen Nesmith

    VICE CHAIRMA

    Total calculated
    $27,042
    From this org
    $27,042
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • William Floyd

    SECOND VICE

    Total calculated
    $23,540
    From this org
    $23,540
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Stanley Pasley

    SEC-TREAS

    Total calculated
    $41,348
    From this org
    $41,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Donald E Coker

    ASSISTANT SE

    Total calculated
    $37,143
    From this org
    $37,143
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Andy D McKnight

    TRUSTEE

    Total calculated
    $38,560
    From this org
    $38,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Walter Sanders

    TRUSTEE

    Total calculated
    $25,027
    From this org
    $25,027
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Dudley Musier

    TRUSTEE

    Total calculated
    $27,326
    From this org
    $27,326
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Harry Walters

    TRUSTEE

    Total calculated
    $12,018
    From this org
    $12,018
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Robert Ardis III

    PRESIDENT &

    Total calculated
    $497,614
    From this org
    $333,392
    From related orgs
    $0
    Other
    $164,222
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $307,531
    Bonus
    $1,220
    Other
    $24,641
    Deferred
    $136,429
    Nontaxable benefits
    $27,793
    Filer's total
    $497,614

  • Robert F Higbe III

    VP-ENGINEERI

    Total calculated
    $308,133
    From this org
    $199,106
    From related orgs
    $0
    Other
    $109,027
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,879
    Bonus
    $1,220
    Other
    $13,007
    Deferred
    $82,323
    Nontaxable benefits
    $26,704
    Filer's total
    $308,133

  • Ronald A Johnson

    VP-OPERATION

    Total calculated
    $266,003
    From this org
    $170,177
    From related orgs
    $0
    Other
    $95,826
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $156,553
    Bonus
    $1,220
    Other
    $12,404
    Deferred
    $68,237
    Nontaxable benefits
    $27,589
    Filer's total
    $266,003

  • James R Cooper

    VICE PRESIDE

    Total calculated
    $249,313
    From this org
    $162,952
    From related orgs
    $0
    Other
    $86,361
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,004
    Bonus
    $1,376
    Other
    $2,572
    Deferred
    $58,621
    Nontaxable benefits
    $27,740
    Filer's total
    $249,313

  • James Kirby

    VP-PUBLIC AF

    Total calculated
    $178,455
    From this org
    $148,837
    From related orgs
    $0
    Other
    $29,618
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $141,117
    Bonus
    $1,997
    Other
    $5,723
    Deferred
    $2,914
    Nontaxable benefits
    $26,704
    Filer's total
    $178,455

  • John Matthews

    FOREMAN

    Total calculated
    $201,306
    From this org
    $138,012
    From related orgs
    $0
    Other
    $63,294
    Hours/week
    54.27

    Schedule J breakdown matched by us

    Base
    $129,342
    Bonus
    $1,220
    Other
    $7,450
    Deferred
    $36,094
    Nontaxable benefits
    $27,200
    Filer's total
    $201,306

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 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

The filer's explanations (Part III)

SCHEDULE J, PART III
SOUTH CAROLINA STATE LAW ( 33-49-615) REQUIRES SOUTH CAROLINA ELECTRIC COOPERATIVES TO MAKE SPECIFIC COMPENSATION DISCLOSURES AVAILABLE TO THE PUBLIC. THESE DISCLOSURES ARE IN EXCESS OF THE COMPENSATION DISCLOSURES REQUIRED BY FORM 990. IN CONJUNCTION WITH THE COMPENSATION INFORMATION REQUIRED BY FORM 990, THE COOPERATIVE HAS OPTED TO PROVIDE THE ADDITIONAL DETAIL REQUIRED BY STATE LAW AS AN ATTACHMENT TO THIS RETURN.

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
2022
Filed
13 April 2023
IRS schema version
2022v5.0
Source object
202331219349301658

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