Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $132,428,595 · related or exempt $132,428,595

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

  total $842,613 · related or exempt $842,613

• 2c · Program service revenue: POLE RENTAL

  total $756,250 · excluded $756,250

• 2d · Program service revenue: OTHER CAPITAL CREDITS

  total $458,181 · related or exempt $458,181

• 3 · Investment income

  total $395,416 · excluded $395,416

• 11a · Other revenue: SUB REVENUE

  total $1,026,542 · related or exempt $1,026,542

• 11b · Other revenue: OTHER

  total $39,749 · related or exempt $39,749

• 11e · Other revenue, total

  $1,066,291

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $5,822,845

• 5 · Compensation of officers, directors and key employees

  total $1,200,538

• 7 · Other salaries and wages

  total $10,243,965

• 8 · Pension plan contributions

  total $4,263,178

• 9 · Other employee benefits

  total $3,704,886

• 10 · Payroll taxes

  total $787,816

• 11b · Fees: legal

  total $79,955

• 11c · Fees: accounting

  total $110,632

• 11g · Fees: other

  total $356,308

• 12 · Advertising and promotion

  total $261,027

• 13 · Office expenses

  total $285,151

• 14 · Information technology

  total $855,453

• 17 · Travel

  total $50,190

• 19 · Conferences, conventions and meetings

  total $200,760

• 20 · Interest

  total $4,658,275

• 22 · Depreciation, depletion and amortization

  total $9,024,057

• 23 · Insurance

  total $582,530

• 24a · Other expenses: PURCHASED POWER

  total $85,085,419

• 24b · Other expenses: DISTRIBUTION OPERATIONS

  total $7,142,387

• 24c · Other expenses: DISTRIBUTION MAINTENANCE

  total $6,813,198

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $1,098,550

• 24e · All other expenses

  total -$6,679,774

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $22,042,353 · end of year $4,953,874

• 2 · Savings and temporary cash investments

  end of year $3,000,000

• 4 · Accounts receivable

  beginning of year $14,990,696 · end of year $15,733,978

• 7 · Other notes and loans receivable

  beginning of year $1,921,847 · end of year $1,734,236

• 8 · Inventories for sale or use

  beginning of year $4,192,102 · end of year $4,455,072

• 9 · Prepaid expenses and deferred charges

  beginning of year $265,111 · end of year $349,782

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

  $307,271,824

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

  $91,364,537

• 10c · Land, buildings and equipment, net

  beginning of year $206,735,437 · end of year $215,907,287

• 13 · Investments: program-related

  beginning of year $18,503,851 · end of year $20,563,161

• 15 · Other assets

  beginning of year $12,299,797 · end of year $16,103,248

• 17 · Accounts payable and accrued expenses

  beginning of year $14,839,344 · end of year $17,517,853

• 23 · Secured mortgages and notes payable

  beginning of year $155,287,805 · end of year $147,483,875

• 25 · Other liabilities

  beginning of year $10,292,623 · end of year $11,032,207

• 29 · Capital stock, trust principal or current funds

  beginning of year $188,110 · end of year $188,610

• 31 · Retained earnings, endowment or other funds

  beginning of year $100,343,312 · end of year $106,578,093

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4

WILLIAM FLOYD 0 20,000 0

SCHEDULE J, PART III

THE COOPERATIVE HAS ADOPTED A 457(B) NONQUALIFIED DEFERRED COMPENSATION PLAN FOR ITS TRUSTEES. UNDER THE PLAN, TRUSTEES MAY DEFER THEIR COMPENSATION UNTIL SEPARATION FROM THE BOARD. AMOUNTS DEFERRED FOR THE YEAR ENDED DECEMBER 31, 2024 ARE NOT INCLUDED IN EACH DIRECTOR'S 1099- NEC COMPENSATION IN PART VII OF THE FORM 990, BUT ARE REPORTED ON PART VII, COLUMN F AS OTHER COMPENSATION RECEIVED FROM THE ORGANIZATION. 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• FIVE RIVERS DEVELOPMENT LLC

  ECON DEV · SC · income $1,026,542 · assets $15,717,213

  Directly controlled by SANTEE ECI