2023-06-29T08:13:23-04:00 2022-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2022-01-01 570184136 HORRY ELECTRIC COOPERATIVE INC HORR 8433692211 PO BOX 119 CONWAY SC 295280119 DANIEL B SHELLEY CEO 8433696353 2023-05-09 true DANIEL B SHELLY XXX-XX-XXXX false H TERRELL MCMICHAEL JR P01259982 4787466277 2023-06-29 2022 2023-04-26 12:10:37Z X ATTN KISHA ROBERTS DANIEL B SHELLEY PO BOX 119 CONWAY SC 29528 183800746 false X X 1940 SC HORRY ELECTRIC COOPERATIVE, INC. IS A NON-PROFIT, MEMBER-OWNED ORGANIZATION PROVIDING INFORMATION AND ENERGY-RELATED SERVICES ON A FAIR AND EQUITABLE BASIS. 9 9 198 0 0 172519096 188218753 295823 956641 2167103 -5374648 174982022 183800746 0 19847660 11803214 659790 692525 0 0 154474572 171305007 174982022 183800746 0 401901252 437222676 200868945 233947329 201032307 203275347 X HORRY ELECTRIC COOPERATIVE, INC. IS A NON-PROFIT, MEMBER-OWNED ORGANIZATION PROVIDING INFORMATION AND ENERGY-RELATED SERVICES ON A FAIR AND EQUITABLE BASIS. false false N/A HORRY ELECTRIC COOPERATIVE, INC. IS A NON-PROFIT, MEMBER-OWNED ORGANIZATION PROVIDING INFORMATION AND ENERGY-RELATED SERVICES ON A FAIR AND EQUITABLE BASIS. false false true false false false false false false true false false 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 false false false true 71 0 true 198 true false false false false false 184939328 2019817 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 KISHA ROBERTS 8433692211 2774 CULTRA ROAD CONWAY SC 29526 JOHNNY SHELLEY PRESIDENT 10.69 X X 16514 0 0 EUGENE HARRIOTT JR VICE PRESIDE 10.92 X X 26965 0 0 CLYDE ASHLEY ANDERSON SEC/TREASURE 8.15 X X 13563 0 0 FREDDY THOMPKINS TRUSTEE 8.85 X 23263 0 0 FRANKIE BLANTON SR TRUSTEE 9.31 X 18422 0 0 RONALD H FLOYD TRUSTEE 11.23 X 25663 0 0 ELAINE GORE TRUSTEE 8.54 X 15453 0 0 AARON JOHNSON TRUSTEE 11.96 X 21634 0 0 JODY PRINCE TRUSTEE 9.40 X 18574 0 0 HENRY W BOYD TRUSTEE - FO X 14482 0 0 DANIEL B SHELLEY CEO 50.00 X 351046 0 161428 JAMES P HOWLE FORMER CEO X 136387 0 0 JOHNNY R COOPER MANAGER-ENGI 50.00 X 203748 0 114222 CHRISTOPHER TEEMS MGR-SPECIAL 50.00 X 175429 0 99483 KEVIN JORDAN SUPVR ENGINE 50.00 X 170950 0 96587 BURROUGHS W NOBLES MANAGER OF O 50.00 X 169429 0 97858 KISHA ROBERTS CFO 50.00 X 168659 0 97407 1570181 666985 58 true true false LEE ELECTRIC CONSTRUCTION INC 12828 US-501 ABERDEEN NC 28315 LINE CONVERSION 3788711 XYLEM TREE EXPERTS 38184 ROCKY HOCK ROAD WAKEFIELD VA 23888 ROW CLEARING 2729706 DAVIS CONSTRUCTION 1230 LARRIMORE DR MANNING SC 29102 LINE EXTENSION 1108409 POWER LINE CLEARING COMPANY INC 1725 STAMEY LIVESTOCK RD SUMTER SC 29150 ROW CLEARING 582894 SQUIRREL SYSTEMS INC 2099 CHURCH ROAD GREEN SEA SC 29545 ROW CLEARING 444577 9 ELECTRIC REVENUE 221000 184939328 184939328 OTHER CAPITAL CREDITS 221000 1906613 1906613 G & T CAPITAL CREDITS 221000 863070 863070 POLE RENTAL 221000 509742 509742 188218753 956641 956641 MISC NON-OPERATING INCOME 52612 52612 GAIN / LOSS DISPOSITION OF PR 14065 14065 FASB GAIN/LOSS -5441325 -5441325 -5374648 183800746 182334363 1466383 11803214 692525 774272 5430050 10857812 PURCHASED POWER 114865676 DISTRIBUTION OPERATIONS 14341799 DISTRIBUTION MAINTENANCE 10168057 CUSTOMER SVC & INFO. EXP 7768727 7098614 183800746 0 0 0 77597663 87285326 2000000 16377808 21399135 5996718 7754875 2259600 2380231 424948170 135812307 279624935 289135863 15159740 16945778 4884788 10321468 401901252 437222676 23056763 27996276 15618000 30463793 156221744 169423997 5972438 6063263 200868945 233947329 X 362885 375525 200669422 202899822 201032307 203275347 401901252 437222676 X 0 2243040 X false true X true false 500 true 5457234 5457234 419490936 135812307 283678629 289135863 CONSUMER DEPOSITS 5559459 DEFERRED COMPENSATION 503804 6063263 179418746 179418746 4382000 4382000 183800746 171997532 171997532 11803214 11803214 183800746 SCHEDULE D, PAGE 4, PART XI, LINE 4B NET DEFERRED REVENUE 4,382,000 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS 11,803,214 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) AS MODIFIED AND ADOPTED BY THE RURAL UTILITIES SERVICE (RUS) IN 7.CFR.1767. 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 X false true false HENRY W BOYD TRUSTEE - FORMER 14482 14482 DANIEL B SHELLEY CEO 328107 1024 21915 123586 37842 512474 JAMES P HOWLE FORMER CEO 136387 136387 136387 JOHNNY R COOPER MANAGER-ENGINEERING 200122 1015 2611 79482 34740 317970 CHRISTOPHER TEEMS MGR-SPECIAL SERVICES 164667 1015 9747 65672 33811 274912 KEVIN JORDAN SUPVR ENGINEER 160644 2098 8208 62952 33635 267537 BURROUGHS W NOBLES MANAGER OF OPERATION 162878 1015 5536 64152 33706 267287 KISHA ROBERTS CFO 159351 1015 8293 63730 33677 266066 SCHEDULE J, PAGE 1, PART I, LINE 4 JAMES P. HOWLE 0 136,387 0 SCHEDULE J, PART III THE COOPERATIVE HAS ESTABLISHED AND SPONSORED TWO DEFERRED COMPENSATION PLANS. ELIGIBLE EMPLOYEES ARE DEFINED AS HIGHLY COMPENSATED INDIVIDUALS WITHIN THE DEFINITION OF IRC SECTION 414(Q). THE SECOND OF THE TWO PLANS (EBR)PROVIDES THE CORPORATION WITH A VEHICLE TO CONTINUE CONTRIBUTIONS VIA ITS EMPLOYER RETIREMENT CONTRIBUTION TO THE HIGHLY COMPENSATED EMPLOYEES WHOSE COMPENSATION EXCEEDS THE INTERNAL REVENUE SERVICE SALARY LIMITS ON RETIREMENT PLAN CONTRIBUTIONS UNDER IRC SECTION 401(A)(17). THE ANNUAL DEFERRAL TO THE TWO DEFERRED COMPENSATION PLANS IS CALCULATED IN ACCORDANCE WITH IRC SECTION 457, SUBJECT TO CHANGES UNDER IRC SECTION 457(B). THE COOPERATIVE HAD REPORTED PAYMENTS MADE FOR THE EBR PLAN IN THE CURRENT YEAR AS A COMPONENT OF COMPENSATION IN COLUMN (B) (III). COMPENSATION PREVIOUSLY REPORTED IN COLUMN (C) ON PRIOR YEAR IRS FORM 990 FILINGS HAS BEEN REPORTED IN COLUMN (F) OF THE 2022 FORM 990 IN ACCORDANCE WITH APPLICABLE DISCLOSURE REQUIREMENTS. FORM 990, PAGE 1, ITEM B TO ADJUST DIRECTOR COMPENSATION FOR CORRECTED 1099. FORM 990, PAGE 2, PART III, LINE 4D HORRY ELECTRIC COOPERATIVE, INC. IS A NON-PROFIT, MEMBER-OWNED ORGANIZATION PROVIDING INFORMATION AND ENERGY-RELATED SERVICES ON A FAIR AND EQUITABLE BASIS. FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE AVAILABLE ON THE COOPERATIVE'S WEBSITE. FORM 990, PAGE 6, PART VI, LINE 7A THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE AVAILABLE ON THE COOPERATIVE'S WEBSITE. 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 AVALIABLE ON THE COOPERATIVE'S WEBSITE. 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 ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED THROUGH THE USE OF A COMPENSATION SURVEY AND PERFORMANCE REVIEW CONDUCTED BY THE MEMBER-ELECTED BOARD. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE MEMBER-ELECTED BOARD THROUGH THE USE OF A COMPENSATION SURVEY AND PERFORMANCE REVIEW CONDUCTED BY THE CEO. FORM 990, PAGE 6, PART VI, LINE 19 THE COOPERATIVE MAKES CONFLICT OF INTEREST POLICY, AND FINANCIAL INFORMATION 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. IN ADDITION, THE COOPERATIVE'S BYLAWS ARE AVAILABLE ON ITS WEBSITE. FORM 990, PART XI, LINE 9 MEMBERSHIPS 12,640 RETAINED CAPITAL/NET SAVINGS 717,595 PATRONAGE CAPITAL ALLOCATIONS/ASSIGNMENTS 11,803,214 RECOGNITION OF DEFERRED REVENUE 5,618,000 PATRONAGE CAPITAL RETIRED -5,908,409 DEFERRAL OF REVENUE -10,000,000 TOTAL 2,243,040