Skip to content
Nonprofiteer
← PEE DEE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PEE DEE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$76,610,172
Total expenses
$77,306,139
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,102,875
Investment income
$94,654
Other revenue
-$2,587,357
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$77,306,139

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 $78,949,052 · related or exempt $78,949,052

  • 2b · Program service revenue: MISCELLANEOUS REVENUE

    total $143,823 · related or exempt $143,823

  • 2c · Program service revenue: RENT FROM ELECTRIC PROPERTY

    total $10,000 · related or exempt $10,000

  • 3 · Investment income

    total $94,654 · excluded $94,654

  • 11a · Other revenue: SUBSIDIARY INCOME (LOSS)

    total -$695,967 · excluded -$695,967

  • 11b · Other revenue: PRB INCOME (LOSS)

    total -$1,891,390 · excluded -$1,891,390

  • 11e · Other revenue, total

    -$2,587,357

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,045,594

  • 22 · Depreciation, depletion and amortization

    total $498,408

  • 24a · Other expenses: PURCHASED POWER

    total $46,231,309

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $11,136,672

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

    total $6,925,851

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $6,914,973

  • 24e · All other expenses

    total $3,553,332

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,189,559

  • 2 · Savings and temporary cash investments

    beginning of year $11,029,750

  • 4 · Accounts receivable

    beginning of year $14,709,509

  • 7 · Other notes and loans receivable

    beginning of year $3,103,216

  • 8 · Inventories for sale or use

    beginning of year $620,663

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122,745

  • 10c · Land, buildings and equipment, net

    beginning of year $12,140,427

  • 12 · Investments: other securities

    beginning of year $7,188,861

  • 13 · Investments: program-related

    beginning of year $43,935,661

  • 15 · Other assets

    beginning of year $23,593,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,597,318

  • 23 · Secured mortgages and notes payable

    beginning of year $1,812,048

  • 25 · Other liabilities

    beginning of year $4,572,044

  • 29 · Capital stock, trust principal or current funds

    beginning of year $128,525

  • 31 · Retained earnings, endowment or other funds

    beginning of year $101,523,938

Mission and programs · 2023

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.

  • N/A

    Expenses $77,306,139

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James A Goodson Jr

    CHAIRMAN

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Preston Gainey

    VICE CHAIR (

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Frederick Lashon Sellers

    VICE CHAIR (

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Patricia Thomas-Toney

    SEC./TREAS

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • David Howell

    TRUSTEE

    Total calculated
    $27,727
    From this org
    $27,727
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Robert Norton

    TRUSTEE

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Hamer Parnell

    TRUSTEE

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • William F Rogers Jr

    TRUSTEE

    Total calculated
    $18,850
    From this org
    $18,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Don Teal

    TRUSTEE

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Lee White

    TRUSTEE

    Total calculated
    $33,181
    From this org
    $33,181
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • William L Fleming Jr

    CEO,EMP MPD(

    Total calculated
    $0

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.

  • PEE DEE ELECTRICOM

    C CORP · LAND INVES · SC · 100% owned · share of income $2,812,846 · share of assets $9,033,911

    Directly controlled by PEE DEE EC

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

9 distributions to recipients named as people, $98,002,038 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
24 May 2024
IRS schema version
2023v6.0
Source object
202521219349300807

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.