Central Electric Power Cooperative Inc
- Assets
- $519.3m
- Revenue
- $1.5b
- Investments
- $5.5m
- Employees
- 58
- Location
- Columbia, SC
- Founding
- 04/1954
- Data as of
- 12/2022
- EIN
- 57-0299350
Organization Overview
Central Electric Power Cooperative Inc is located in Columbia, SC. The organization was established in 1954. 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, Central Electric Power Cooperative Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Electric Power 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 12/2022, Central Electric Power Cooperative Inc generated $1.5b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.5b during the year ending 12/2022. While expenses have increased by 2.6% 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.
Since 2019, Central Electric Power Cooperative Inc has awarded 46 individual grants totaling $17,378,983. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CENTRAL EXISTS SOLELY FOR THE BENEFIT OF ITS MEMBERS. WE WILL PROVIDE A RELIABLE, LONG TERM, AND STABLE SUPPLY OF POWER, WHICH ACCOMMODATES GROWTH, AT THE LOWEST POSSIBLE COST CONSISTENT WITH GOOD UTILITY PRACTICE. WE WILL PROVIDE FOR RELIABLE DELIVERY OF POWER, WHEN AND WHERE DESIRED, CONSISTENT WITH APPLICABLE GUIDELINES. WE WILL PROVIDE ADDITIONAL ENERGY-RELATED OR DELIVERY-RELATED SERVICES AS DIRECTED BY THE BOARD OF TRUSTEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CENTRAL EXISTS SOLELY FOR THE BENEFIT OF ITS MEMBERS. WE WILL PROVIDE A RELIABLE, LONG TERM, AND STABLE SUPPLY OF POWER, WHICH ACCOMMODATES GROWTH, AT THE LOWEST POSSIBLE COST CONSISTENT WITH GOOD UTILITY PRACTICE. WE WILL PROVIDE FOR RELIABLE DELIVERY OF POWER, WHEN AND WHERE DESIRED, CONSISTENT WITH APPLICABLE GUIDELINES. WE WILL PROVIDE ADDITIONAL ENERGY-RELATED OR DELIVERY-RELATED SERVICES AS DIRECTED BY THE BOARD OF TRUSTEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Berl Davis Secretary/treasurer | OfficerTrustee | 7 | $24,461 |
Andy Mcknight Trustee | Trustee | 5 | $13,117 |
Anita P Whitney Trustee | Trustee | 7 | $15,598 |
B Robert Paulling Trustee | Trustee | 5 | $14,535 |
Brian W Broughton Trustee | Trustee | 5 | $15,953 |
Carolyn Boyd Trustee | Trustee | 5 | $13,117 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bluroc Llc Construction And Maintenance | 12/30/22 | $2,377,533 |
Tiencken Law Firm Llc Legal | 12/30/22 | $1,727,974 |
Aces Power Marketing Consulting | 12/30/22 | $1,479,875 |
Volt Power Construction And Maintenance | 12/30/22 | $1,218,414 |
Radiance Solar Llc Construction And Maintenance | 12/30/22 | $317,094 |
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 | $1,456,068,301 |
| Investment income | $840,425 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$82,674 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,459,022,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,046,310 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $12,398,749 |
| Compensation of current officers, directors, key employees. | $3,947,979 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,383,488 |
| Pension plan accruals and contributions | $1,160,072 |
| Other employee benefits | $1,038,380 |
| Payroll taxes | $475,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,321,057 |
| Fees for services: Accounting | $92,346 |
| Fees for services: Lobbying | $53,438 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,328,169 |
| Advertising and promotion | $19,731 |
| Office expenses | $228,742 |
| Information technology | $797,650 |
| Royalties | $0 |
| Occupancy | $544,776 |
| Travel | $319,879 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $276,077 |
| Interest | $6,514,984 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,922,145 |
| Insurance | $237,817 |
| All other expenses | $1,609,095 |
| Total functional expenses | $1,459,000,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,625 |
| Savings and temporary cash investments | $11,933,418 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,572,631 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,223,774 |
| Prepaid expenses and deferred charges | $2,555,203 |
| Net Land, buildings, and equipment | $314,721,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,530,813 |
| Investments—program-related | $5,464,270 |
| Intangible assets | $0 |
| Other assets | $20,305,684 |
| Total assets | $519,315,059 |
| Accounts payable and accrued expenses | $146,294,640 |
| Grants payable | $0 |
| Deferred revenue | $14,607,565 |
| 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 | $281,404,236 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,640,271 |
| Total liabilities | $443,946,712 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,173 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $75,367,174 |
| Total liabilities and net assets/fund balances | $519,315,059 |
Grants Awarded
Over the last fiscal year, Central Electric Power Cooperative Inc has awarded $8,046,310 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE RIDGE ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $326,418 |
BROAD RIVER ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $1,262,000 |
COASTAL ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $25,000 |
MARLBORO ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $310,000 |
PEE DEE ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $1,060,000 |
YORK ELECTRIC COOPERATIVE INC PURPOSE: ECONOMIC DEVELOPMENT | $55,020 |