Pee Dee Electric Cooperative Inc
- Assets
- $181.9m
- Revenue
- $94.5m
- Investments
- $4.8m
- Employees
- 80
- Location
- Darlington, SC
- Founding
- 05/1942
- Data as of
- 12/2021
- EIN
- 57-0223728
Organization Overview
Pee Dee Electric Cooperative Inc is located in Darlington, 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, Pee Dee Electric Cooperative Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pee Dee Electric Cooperative Inc 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, Pee Dee Electric Cooperative Inc generated $94.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $92.8m during the year ending 12/2021. While expenses have increased by 2.1% 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.
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 |
|---|---|---|---|
Lee White Trustee | Trustee | 10 | $42,736 |
David Howell Trustee | Trustee | 10 | $33,616 |
Patricia Thomas-Toney Sec./treas | OfficerTrustee | 10 | $27,792 |
William F Rogers Jr Trustee | Trustee | 10 | $22,444 |
Preston Gainey Vice Chair ( | OfficerTrustee | 10 | $21,920 |
Frederick Lashon Sellers Vice Chair ( | OfficerTrustee | 10 | $21,920 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southeastern Limb And Tree Tree Trimming | 12/30/21 | $2,230,741 |
Service Electric Company Substation Con. | 12/30/21 | $1,051,816 |
Asplundh Tree Trimming | 12/30/21 | $947,296 |
Mpd Corporation Inc Mngt & Dist Ser | 12/30/21 | $14,773,194 |
Lee Electrical Construction Construction | 12/30/21 | $556,970 |
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 | $91,886,542 |
| Investment income | $892,543 |
| 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 | $94,464,000 |
| 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 | $11,608,167 |
| Compensation of current officers, directors, key employees. | $257,651 |
| 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 | $1,819,487 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,162,140 |
| Insurance | $0 |
| All other expenses | $3,979,009 |
| Total functional expenses | $92,779,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,684,798 |
| Savings and temporary cash investments | $16,567,476 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,122,734 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,478,544 |
| Inventories for sale or use | $1,889,174 |
| Prepaid expenses and deferred charges | $231,288 |
| Net Land, buildings, and equipment | $113,548,799 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,806,137 |
| Investments—program-related | $8,630,349 |
| Intangible assets | $0 |
| Other assets | $16,959,943 |
| Total assets | $181,919,242 |
| Accounts payable and accrued expenses | $7,037,780 |
| 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 | $72,637,991 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,022,029 |
| Total liabilities | $83,697,800 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $127,750 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $98,093,692 |
| Total liabilities and net assets/fund balances | $181,919,242 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pee Dee Electric Cooperative Inc has recieved totaling $577,490.
| Awarding Organization | Amount |
|---|---|
Central Electric Power Cooperative Inc Columbia, SC PURPOSE: ECONOMIC DEVELOPMENT | $577,490 |
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 |