Blue Ridge Electric Cooperative
- Assets
- $468.9m
- Revenue
- $180.1m
- Investments
- $0.0
- Employees
- 208
- Location
- Pickens, SC
- Founding
- 08/1942
- Data as of
- 12/2022
- 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 12/2022, Blue Ridge Electric Cooperative employed 208 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 12/2022, Blue Ridge Electric Cooperative generated $180.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $180.1m during the year ending 12/2022. While expenses have increased by 2.6% per year over the past 8 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
2022
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 | $432,168 |
David Collins VP Finance | 50 | $306,577 | |
Samuel Mcmillan VP Operation | 50 | $303,477 | |
Denise Mccormick VP Member Se | 50 | $287,411 | |
Mark Waters VP Engineeri | 50 | $242,706 | |
Terry Ballenger VP Communica | 50 | $234,270 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Electricom Fiber Installat | 12/30/22 | $18,853,609 |
Byers Engineering Engineers | 12/30/22 | $5,102,656 |
Sumter Utilities Construction | 12/30/22 | $3,633,613 |
Pike Electric Construction | 12/30/22 | $1,977,646 |
Caldwell Landscaping Row Clearing | 12/30/22 | $3,031,284 |
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 | $179,854,626 |
| Investment income | $175,610 |
| 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 | $180,062,478 |
| 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 | $3,608,356 |
| Compensation of current officers, directors, key employees. | $905,988 |
| 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 | $9,510,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,861,575 |
| Insurance | $0 |
| All other expenses | $13,036,491 |
| Total functional expenses | $180,062,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,191,754 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,602,673 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,335,980 |
| Inventories for sale or use | $8,940,183 |
| Prepaid expenses and deferred charges | $1,711,458 |
| Net Land, buildings, and equipment | $394,699,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,847,483 |
| Intangible assets | $0 |
| Other assets | $4,614,821 |
| Total assets | $468,943,378 |
| Accounts payable and accrued expenses | $71,332,421 |
| 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 | $286,972,368 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,881,527 |
| Total liabilities | $382,186,316 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $342,635 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $86,414,427 |
| Total liabilities and net assets/fund balances | $468,943,378 |