2024-04-05T13:01:40-04:00 2023-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2023-01-01 570216285 NEWBERRY ELECTRIC COOPERATIVE INC NEWB 8032761121 PO BOX 477 NEWBERRY SC 29108 GEORGE KEITH AVERY PRESIDENT AND CEO 8032761121 2024-03-31 true GEORGE AVERY XXX-XX-XXXX false JACOB R MORRIS P01653123 4787466277 2024-04-05 2023 2023-04-26 12:10:37Z GEORGE KEITH AVERY PO BOX 477 NEWBERRY SC 29108 48559358 false X WWW.NEC.COOP X 1940 SC TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. 9 9 47 0 0 44301094 48441249 25308 54065 1378794 64044 45705196 48559358 0 1499199 2255017 667767 704020 0 0 43538230 45600321 45705196 48559358 0 94155817 100587926 67873209 72897950 26282608 27689976 TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT THE LOWEST PRICE CONSISTENT WITH HIGHEST STANDARDS OF SERVICE. false false N/A false false true false false false false false false true false true false true false true false false false false false false false false false false false false true false false false false false false false false false false false true false false true X 40 0 true 47 true false false false false false 45605535 2051375 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false SC X ARTHUR GUY 8032761121 PO BOX 477 NEWBERRY SC 29108 X JOHNNIE L DICKERT CHAIRMAN 20.00 X X 41389 0 0 WILLIAM B LOMINICK SR VICE CHAIRMA 35.00 X X 28038 0 0 JOHN WAYNE NICHOLS SECRETARY/TR 30.00 X X 35229 0 0 DOUGLAS E HIPP DIRECTOR 8.00 X 35639 0 0 J CRAIG KESLER DIRECTOR 30.00 X 35546 0 0 LEON FULMER JR DIRECTOR 8.00 X 26031 0 0 BLAKE BRIGMAN DIRECTOR 8.00 X 30321 0 0 MELANIE B HAWKINS DIRECTOR 30.00 X 39821 0 0 BARBARA C BISHOP DIRECTOR 4.00 X 19010 0 0 CHARLES J BISHOP DIRECTOR 4.00 X 7282 0 0 GEORGE KEITH AVERY PRESIDENT AN 50.00 X 285161 0 120553 KEVIN SHULL VP- ENGINEER 50.00 X 157069 0 69206 ARTHUR GUY CFO 50.00 X 157500 0 67636 LEANN HUTTO VP- HUMAN RE 50.00 X 117068 0 55145 ROBERT SHEALY VP- OPERATIO 50.00 X 111588 0 60192 DEBRA SHAW VP OF PUBLIC 50.00 X 118034 0 53179 1244726 425911 8 false true false LEE ELECTRICAL CONSTRUCTION INC PO BOX 55 ABERDEEN NC 28315 CONSTRUCTION 1646645 ELLASON GRADING AND LANDSCAPE PO BOX 947 SIMPSONVILLE SC 29681 TREE SERVICE 1567372 SOUTHEAST UTILITIES OF GEORGIA 1020 FRANKE INDUSTRIAL DR AUGUSTA GA 30909 FIBER 1091543 SURVALENT TECHNOLOGY 1967 WEHRLE DRIVE BUFFALO NY 14221 SCADA 257645 MCCALL-THOMAS ENGINEERING CO PO DRAWER 670 ORANGEBURG SC 29116 ENG. CONSULTING 229805 8 ELECTRIC REVENUE 221000 47333003 47333003 OTHER CAPITAL CREDITS 221000 624743 624743 G & T CAPITAL CREDITS 221000 262383 262383 POLE RENTAL 221000 221120 221120 48441249 54065 54065 POSTRETIREMENT BENEFIT CREDIT 42044 42044 GAIN ON DISPOSITION OF PROPER 22000 22000 64044 48559358 48284173 275185 2255017 704020 2669477 3563791 PURCHASED POWER 28766155 DISTRIBUTION MAINTENANCE 3650232 ADMIN. & GENERAL EXP. 2178644 OPERATING TAXES 2105835 2666187 48559358 0 0 0 1861270 1543025 3231697 3516881 1497226 1555773 63225 68227 128650007 40021855 82907859 88628152 4589797 5271125 4743 4743 94155817 100587926 3573659 3539906 61382961 66151609 2916589 3206435 67873209 72897950 X 48990 49390 26233618 27640586 26282608 27689976 94155817 100587926 X 0 1407368 X false true X true false 1000 true SCHEDULE C, PART I-A, LINE 1 VERDIN FOR SENATE 366636 366636 128283371 40021855 88261516 88628152 PATRONAGE CAPITAL-CEE-US 1884706 PATRONAGE CAPITAL-CENTRAL 1840831 PATRONAGE CAPITAL-CFC 811331 PATRONAGE CAPITAL-CTC'S 394623 PATRONAGE CAPITAL-FEDERATED 215998 PATRONAGE CAPITAL-MERIDIAN (SEDC) 103885 PATRONAGE CAPITAL-COBANK 13843 PATRONAGE CAPITAL-OTHER 5500 PATRONAGE CAPITAL-NRTC 408 5271125 CONSUMER DEPOSITS 933165 DEFERRED CREDITS 898728 ASC 980 REGULATORY LIABILITY 898000 APBO 476542 3206435 48259358 -300000 -300000 48559358 48559358 46304341 46304341 2255017 2255017 48559358 SCHEDULE D, PAGE 4, PART XI, LINE 2D DEFERRED REVENUE - ASC 980 -300,000 SCHEDULE D, PAGE 4, PART XII, LINE 4B BENEFITS PAID TO MEMBERS 2,255,017 SCHEDULE D, PAGE 4, PART XIII THE CORPORATION'S RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION (18CFR.PART 101). THOSE PRACTICES UTILIZE ALLOCATION BASES. AS A RESULT, IT WOULD REQUIRE SIGNIFICANT EFFORT TO BREAK OUT EXPENSES IN THE FUNCTIONAL CATEGORIES PROVIDED FOR ON THE STATEMENT OF FUNCTIONAL EXPENSES. MANAGEMENT HAS OPTED TO CLASSIFY ITS EXPENSES ON PART IX OF THE FORM 990 IN THE SAME MANNER IT REPORTS ITS FINANCIAL RESULTS TO LENDERS, REGULATORS AND ITS MEMBER-OWNERS. X X X false false false GEORGE KEITH AVERY PRESIDENT AND CEO 267800 8034 9327 105742 14811 405714 KEVIN SHULL VP- ENGINEERING 152009 4570 490 59025 10181 226275 ARTHUR GUY CFO 145954 4379 7167 56479 11157 225136 LEANN HUTTO VP- HUMAN RESOURCES 113554 3514 45198 9947 172213 ROBERT SHEALY VP- OPERATIONS 106319 3255 2014 42270 17922 171780 DEBRA SHAW VP OF PUBLIC SERVICE 110178 3305 4551 42522 10657 171213 FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN THE BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE BOARD WITH ALL SUPPORTING DOCUMENTATION MADE AVAILABLE TO THEM. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN THE BOARD POLICY THAT IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO. THEY UTILIZE NRECA SALARY DATA FOR COMPARISON AND MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS DISCUSSES AND VOTES ON THE RECOMMENDATIONS OF THE EXECUTIVE COMMITTEE. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES IS REVIEWED AND APPROVED THROUGH THE USE OF A WAGE AND SALARY PLAN ADMINISTERED BY THE CEO AND APPROVED BY THE MEMBER ELECTED BOARD. FORM 990, PAGE 6, PART VI, LINE 19 THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI, SECTION C, LINE 18. FORM 990, PART VII SOUTH CAROLINA STATE LAW ( 33-49-615) REQUIRES SOUTH CAROLINA ELECTRIC COOPERATIVES TO MAKE SPECIFIC COMPENSATION DISCLOSURES AVAILABLE TO THE PUBLIC. THESE DISCLOSURES ARE IN EXCESS OF THE COMPENSATION DISCLOSURES REQUIRED BY FORM 990. THE CORPORATION WILL MAKE THE DISCLOSURES REQUIRED BY STATE LAW AVAILABLE TO THE PUBLIC ON OR BEFORE MAY 15, 2024. FORM 990, PART XI, LINE 9 PATRONAGE CAPITAL ASSIGNED TO MEMBERS 2,255,017 CHANGE IN MEMBERSHIP FEES 400 CHANGE IN OTHER EQUITIES 61,561 RETIREMENT OF CAPITAL CREDITS -568,344 DEFERRED REVENUE - ASC 980 -300,000 OTHER COMPREHENSIVE INCOME -41,266 TOTAL 1,407,368 CAROLINACONNECT COOPERATIVE INC PO BOX 1667 LEXINGTON SC 29071 811529390 BROADBAND SC 501C12 N/A false false false false true false false false false false true false false false false false false false false false CAROLINACONNECT COOPERATIVE INC J 1727468 ACCESS AGREEMENT CAROLINACONNECT COOPERATIVE INC D 9432500 DEBT GUARANTY