Blue Ridge Electric Cooperative
- Assets
- $400.7m
- Revenue
- $161.2m
- Investments
- $0.0
- Employees
- 197
- Location
- Pickens, SC
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 57-0125510
Organization Overview
Blue Ridge Electric Cooperative is located in Pickens, SC. The organization was established in 1942. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Blue Ridge Electric Cooperative employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blue Ridge Electric Cooperative is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Blue Ridge Electric Cooperative generated $161.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $161.8m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Lovinggood President & | Officer | 50 | $388,663 |
David Collins VP Finance | 50 | $296,956 | |
Samuel Mcmillan VP Operation | 50 | $279,059 | |
Denise Mccormick VP Member Se | 50 | $268,625 | |
Terry Ballenger VP Communica | 50 | $229,125 | |
Mark Waters VP Engineeri | 50 | $220,294 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sumter Utilities Construction | 12/30/21 | $3,395,992 |
Pike Electric Construction | 12/30/21 | $2,377,079 |
Caldwell Landscaping Row Clearing | 12/30/21 | $2,273,150 |
Sluder Urban Forestry Row Clearing | 12/30/21 | $1,475,448 |
Transformer Maintenance Transformer Ser | 12/30/21 | $771,441 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $161,003,271 |
| Investment income | $174,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $161,177,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,125,061 |
| Compensation of current officers, directors, key employees. | $838,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,863,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,630,762 |
| Insurance | $0 |
| All other expenses | $12,881,025 |
| Total functional expenses | $161,807,311 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,344,258 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,568,630 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,318,936 |
| Inventories for sale or use | $6,352,343 |
| Prepaid expenses and deferred charges | $1,180,050 |
| Net Land, buildings, and equipment | $344,728,890 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,237,534 |
| Intangible assets | $0 |
| Other assets | $19,227 |
| Total assets | $400,749,868 |
| Accounts payable and accrued expenses | $52,732,842 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $239,367,495 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,058,036 |
| Total liabilities | $320,158,373 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $332,925 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $80,258,570 |
| Total liabilities and net assets/fund balances | $400,749,868 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Blue Ridge Electric Cooperative has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Central Electric Power Cooperative Inc Columbia, SC PURPOSE: ECONOMIC DEVELOPMENT | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Berkeley Electric Cooperative Inc Moncks Corner, SC | $676,271,341 | $408,085,738 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |
Greystone Power Corporation An Electric Membership Corporation Douglasville, GA | $623,308,885 | $319,065,747 |
Energyunited Electric Membership Corporation Statesville, NC | $513,896,783 | $280,523,963 |
Flint Electric Membership Corporation Reynolds, GA | $439,600,941 | $250,834,907 |
Snapping Shoals Electric Membership Corp Covington, GA | $296,699,406 | $211,884,091 |
Brunswick Electric Membership Corp Shallotte, NC | $489,243,089 | $201,275,080 |
Coweta Fayette Electric Membership Palmetto, GA | $416,915,682 | $186,432,980 |