2021-04-27T07:06:03-05:00 2020-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2020-01-01 570184136 HORRY ELECTRIC COOPERATIVE INC HORR 8433692211 PO BOX 119 CONWAY SC 29528 DANIEL B SHELLEY CEO 8433696353 2021-04-26 true DANIEL B SHELLY XXX-XX-XXXX H TERRELL MCMICHAEL JR P01259982 4787466277 2021-04-27 2020 2022-09-23 18:48:47Z DANIEL B SHELLEY PO BOX 119 CONWAY SC 29528 170342849 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 9 178 0 0 169176893 167513773 4651812 2691935 137141 173828705 170342849 0 22289917 21916452 1223367 601500 0 0 150315421 147824897 173828705 170342849 0 335498328 365534006 166381219 173038739 169117109 192495267 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 false 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 67 0 true 178 true false false false false false 165842173 3809132 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 JAMES P HOWLE FORMER CEO X 456394 0 0 DANIEL B SHELLEY CEO 50.00 4.00 X 295683 0 131652 JOHNNY R COOPER MANAGER-ENGI 50.00 X 187292 0 98052 CHRISTOPHER TEEMS MGR-SPECIAL 50.00 X 159756 0 87710 KEVIN JORDAN SUPVR ENGINE 50.00 X 148562 0 84199 JODI L JORDAN OFFICE MANAG 50.00 X 147491 0 84616 BURROUGHS W NOBLES MANAGER OF O 50.00 X 146714 0 83205 FREDDY THOMPKINS TRUSTEE 9.48 2.00 X 31719 0 0 EUGENE HARRIOTT JR VICE PRESIDE 9.56 2.00 X X 22939 0 0 ELAINE GORE TRUSTEE 8.25 X 20272 0 0 HENRY W BOYD TRUSTEE 7.92 X 19948 0 0 FRANKIE BLANTON SR TRUSTEE 7.94 X 19485 0 0 RONALD H FLOYD TRUSTEE 8.27 2.00 X 16356 0 0 JOHNNY SHELLEY PRESIDENT 10.25 X X 15040 0 0 BOBBY E JORDAN TRUSTEE 7.48 X 14397 0 0 CLYDE ASHLEY ANDERSON SEC/TREASURE 8.48 X X 14009 0 0 1716057 569434 33 true true false LEE ELECTRIC CONSTRUCTION INC 12828 US-501 ABERDEEN NC 28315 LINE CONVERSION 3042039 LEWIS TREE SERVICE 3034 STATE RD S-15-233 WALTERBORO SC 29488 ROW CLEARING 991637 DAVIS CONSTRUCTION 1230 LARRIMORE DR MANNING SC 29102 LINE EXTENSION 536236 POWER LINE CLEARING COMPANY INC 1725 STAMEY LIVESTOCK RD SUMTER SC 29150 ROW CLEARING 525866 SQUIRREL SYSTEMS INC 2099 CHURCH ROAD GREEN SEA SC 29545 ROW CLEARING 385762 7 ELECTRIC REVENUE 221000 165842173 165842173 OTHER CAPITAL CREDITS 221000 1251524 1251524 POLE RENTAL 221000 232538 232538 G&T CAPITAL CREDITS 221000 187538 187538 167513773 2691935 2691935 MISC NON-OPERATING INCOME 137141 137141 137141 170342849 167418376 2924473 21916452 601500 650804 6380614 10958294 PURCHASED POWER 100470235 DISTRIBUTION OPERATIONS 11710447 CUSTOMER SVC & INFO. EXP 7404259 DISTRIBUTION MAINTENANCE 6899822 3350422 170342849 0 0 0 27687963 53486760 16315235 18507497 4576690 5064700 7840996 3407804 391789773 121374555 264543553 270415218 14224765 14378564 309126 273463 335498328 365534006 22267047 23220153 13367000 8412000 124101720 138642352 6645452 2764234 166381219 173038739 X 337115 349485 168779994 192145782 169117109 192495267 335498328 365534006 X 0 23378158 X false true X true false 5457489 5457489 386332284 121374555 264957729 270415218 CONSUMER DEPOSITS 5085910 ACCUMULATED PROVISION FOR PR MEDICAL -2321676 2764234 175297849 175297849 -4955000 -4955000 170342849 148426397 148426397 21916452 21916452 170342849 SCHEDULE D, PAGE 4, PART XI, LINE 4B RECOGNITION OF DEFERRED REVENUE -4,955,000 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL CREDITS 21,916,452 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 JAMES P HOWLE FORMER CEO 456394 456394 456394 DANIEL B SHELLEY CEO 274348 1024 20311 96710 34942 427335 JOHNNY R COOPER MANAGER-ENGINEERING 176872 1015 9405 64899 33153 285344 CHRISTOPHER TEEMS MGR-SPECIAL SERVICES 150637 1015 8104 55270 32440 247466 KEVIN JORDAN SUPVR ENGINEER 140217 1083 7262 52027 32172 232761 JODI L JORDAN OFFICE MANAGER 140091 1083 6317 52447 32169 232107 BURROUGHS W NOBLES MANAGER OF OPERATION 138026 1083 7605 51068 32137 229919 SCHEDULE J, PAGE 1, PART I, LINE 4 JAMES P. HOWLE 0 456,394 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 COLOMN (B) (III). COMPENSATION PREVIOUSLY REPORTED IN COLUMN (C) ON PRIOR YEAR IRS FROM 990 FILINGS HAS BEEN REPORTED IN COLUMN (F) OF THE 2020 FORM 990 IN ACCORDANCE WITH APPLICABLE DISCLOSURE REQUIREMENTS. 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 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 12,370 RETAINED CAPITAL/NET SAVINGS 637,942 PATRONAGE CAPITAL ALLOCATIONS/ASSIGNMENTS 21,916,452 RECOGNITION OF DEFERRED REVENUE 4,955,000 PATRONAGE CAPITAL RETIRED -4,143,606 TOTAL 23,378,158