PALMETTO ELECTRIC COOPERATIVE INC: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- PALMETTO ELECTRIC COOPERATIVE INC (EIN 57-0221355)
- Tax period
- 2016-01-01 to 2016-12-31
- Filed
- 2017-11-13
- IRS object ID
- 201713179349305616
- Schema version
- 2016v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-11-13T14:30:26-05:00 | ReturnTs |
| Tax Period End | 2016-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 680666858 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | K EVE MCCOY CPA LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1518 LADY ST | AddressLine1Txt |
| City | COLUMBIA | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 570221355 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PALMETTO ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PALM | BusinessNameControlTxt |
| Phone | 8437265551 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4063 GRAYS HWY | AddressLine1Txt |
| City | RIDGELAND | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 29936 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | A BERL DAVIS JR | PersonNm |
| Person Title | PRES. & CEO | PersonTitleTxt |
| Phone | 8437265551 | PhoneNum |
| Signature | 2017-11-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | K EVE MCCOY | PreparerPersonNm |
| PTIN | P01301422 | PTIN |
| Phone | 8032569100 | PhoneNum |
| Preparation | 2017-11-13 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Filing Security Information FilingSecurityInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| At Submission Creation Device Id | 4A2263A092EB24081D95C34AC92A363E47AE7E4E | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 4A2263A092EB24081D95C34AC92A363E47AE7E4E | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | A BERL DAVIS JR | PrincipalOfficerNm |
| Gross Receipts | $166,959,918 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PALMETTO.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | SC | LegalDomicileStateCd |
| Activity Or Mission | TO DELIVER COMPETITIVELY PRICED, RELIABLE ENERGY AND INNOVATIVE RELATED SERVICES TO ITS MEMBERS AND TO PROVIDE LEADERSHIP AND SUPPORT TO THE COMMUNITIES WE SERVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 153 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $169,821,052 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $165,811,420 | CYProgramServiceRevenueAmt |
| PY Investment Income | $257,910 | PYInvestmentIncomeAmt |
| CY Investment Income | $176,558 | CYInvestmentIncomeAmt |
| PY Other Revenue | $799,031 | PYOtherRevenueAmt |
| CY Other Revenue | $971,940 | CYOtherRevenueAmt |
| PY Total Revenue | $170,877,993 | PYTotalRevenueAmt |
| CY Total Revenue | $166,959,918 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $12,741,557 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $10,675,857 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,145,849 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,142,549 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $155,990,587 | PYOtherExpensesAmt |
| CY Other Expenses | $154,141,512 | CYOtherExpensesAmt |
| PY Total Expenses | $170,877,993 | PYTotalExpensesAmt |
| CY Total Expenses | $166,959,918 | CYTotalExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $242,461,209 | TotalAssetsBOYAmt |
| Total Assets EOY | $244,339,788 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $165,049,273 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $168,338,775 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $77,411,936 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $76,001,013 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO DELIVER COMPETITIVELY PRICED, RELIABLE ENERGY AND INNOVATIVE RELATED SERVICES TO ITS MEMBERS AND TO PROVIDE LEADERSHIP AND SUPPORT TO THE COMMUNITIES WE SERVE. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $150,413,400 | ExpenseAmt |
| Desc | TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. | Desc |
| Total Program Service Expenses | $150,413,400 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 51 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 153 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Members And Shr Gross Income | $165,811,420 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,148,498 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TANYA TRULL VP-FINANCE & ACCTG | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8437265551 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4063 GRAYS HWY | AddressLine1Txt |
| City | RIDGELAND SC | CityNm |
| State Abbreviation | SC | StateAbbreviationCd |
| ZIP | 299360820 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (22 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| JAMES L ROWE | |||||||||
| DIRECTOR | 4.00 | 4.00 | Yes (X) | $35,928 | $12,053 | $0 | |||
| EUNICE FSPILLARDS | |||||||||
| SEC. TREAS. | 6.00 | 3.00 | Yes (X) | $40,258 | $0 | $0 | |||
| DR EARL BOSTICK SR | |||||||||
| DIRECTOR | 6.00 | Yes (X) | $39,952 | $0 | $0 | ||||
| C ALEX ULMER | |||||||||
| V. CHAIRMAN | 7.00 | Yes (X) | $39,508 | $0 | $0 | ||||
| JAMES O FREEMAN | |||||||||
| DIRECTOR | 6.00 | Yes (X) | $34,053 | $0 | $0 | ||||
| JIMMIE D MCMILLAN | |||||||||
| DIRECTOR | 3.00 | Yes (X) | $31,053 | $0 | $0 | ||||
| WILLIAM J NIMMER | |||||||||
| DIRECTOR | 3.00 | Yes (X) | $30,981 | $0 | $0 | ||||
| DAVID A SOLARO | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $25,107 | $0 | $0 | ||||
| JEREMIAH E VAIGNEUR | |||||||||
| CHAIRMAN | 6.00 | Yes (X) | $23,557 | $0 | $0 | ||||
| TERRELL SMITH | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $20,805 | $0 | $0 | ||||
| CAROLYN GRANT | |||||||||
| DIRECTOR | 3.00 | Yes (X) | $18,555 | $0 | $0 | ||||
| HENRY DRIESSEN JR | |||||||||
| DIRECTOR | 3.00 | Yes (X) | $17,982 | $0 | $0 | ||||
| A BERL DAVIS JR | |||||||||
| PRES. & CEO | 50.00 | 3.00 | $325,714 | $18,434 | $104,134 | Yes (X) | |||
| WILSON D SALEEBY | |||||||||
| VP OP/ENGIN | 50.00 | $215,448 | $0 | $67,723 | Yes (X) | ||||
| GARY E JEGER | |||||||||
| SR. VP INFOR | 50.00 | $202,626 | $0 | $81,590 | Yes (X) | ||||
| TANYA K TRULL | |||||||||
| VP FINANCE | 50.00 | $176,688 | $0 | $74,026 | Yes (X) | ||||
| LEWIE DAVIS | |||||||||
| VP CUST SVC | 43.00 | $164,013 | $0 | $68,970 | Yes (X) | ||||
| OMER K DUBOSE | |||||||||
| OPER MGR | 55.00 | $146,203 | $0 | $62,196 | Yes (X) | ||||
| ROBERT CASAVANT | |||||||||
| ENGIN MGR | 55.00 | $145,598 | $0 | $66,557 | Yes (X) | ||||
| GEORGIA VIDO | |||||||||
| VP HR | 40.00 | $141,272 | $0 | $53,596 | Yes (X) | ||||
| BRUCE DRAPER | |||||||||
| OPER MGR | 46.00 | $137,437 | $0 | $62,487 | Yes (X) | ||||
| TIM HUTCHINSON | |||||||||
| SYSTEM ENGIN | 50.00 | $129,811 | $0 | $58,772 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,142,549 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $30,487 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $700,051 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | Address Line2ContractorAddress/USAddress/AddressLine2Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| INFRATECH CORP | ||||||
| PO BOX 56346 | PO BOX 56346 | ATLANTA | GA | 30343 | UTILITY CONSTR | $1,020,210 |
| ASPLUNDH TREE EXPERT | ||||||
| PO BOX 532729 | PO BOX 532729 | ATLANTA | GA | 30353 | TREE SERVICE | $788,964 |
| SOUTHERN ROOF& WOOD CARE CO | ||||||
| PO BOX 686 | PO BOX 686 | HARDEEVILLE | SC | 29927 | ROOF CONTRACT | $549,195 |
| ERTEL CONSTRUCTION INC | ||||||
| PO BOX 19069 | PO BOX 19069 | CHARLOTTE | NC | 28219 | UTILITY CONSTR | $468,603 |
| LEWIS TREE SERVICE | ||||||
| PO BOX 731897 | PO BOX 731897 | DALLAS | TX | 75373 | TREE SERVICE | $252,700 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 11 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ELECTRIC SALES | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $165,811,420 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $165,811,420 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $165,811,420 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $176,558 | TotalRevenueColumnAmt |
| Exclusion | $176,558 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CAPITAL CREDITS - ASSOC ORGAN | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $971,940 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $971,940 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $971,940 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $166,959,918 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $166,783,360 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $176,558 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,675,857 | TotalAmt |
| Program Services | $10,675,857 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,442,228 | TotalAmt |
| Management And General | $1,442,228 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $700,321 | TotalAmt |
| Management And General | $700,321 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,968,680 | TotalAmt |
| Program Services | $3,968,680 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,780,291 | TotalAmt |
| Program Services | $8,780,291 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| PURCHASED POWER | $113,321,419 | $113,321,419 | |
| ADMINISTRATIVE AND GENERA | $14,403,969 | $14,403,969 | |
| OPERATIONS | $7,911,274 | $7,911,274 | |
| TAXES | $5,755,879 | $5,755,879 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $166,959,918 | TotalAmt |
| Program Services | $150,413,400 | ProgramServicesAmt |
| Management And General | $16,546,518 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,690,121 | BOYAmt |
| EOY | $19,889,959 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,325,085 | BOYAmt |
| EOY | $13,955,417 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,270,756 | BOYAmt |
| EOY | $1,537,667 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $448,152 | BOYAmt |
| EOY | $260,790 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $263,513,672 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $81,415,759 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $178,306,348 | BOYAmt |
| EOY | $182,097,913 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,612,522 | BOYAmt |
| EOY | $15,258,889 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,808,225 | BOYAmt |
| EOY | $11,339,153 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,461,209 | BOYAmt |
| EOY | $244,339,788 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,420,226 | BOYAmt |
| EOY | $53,551,707 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $100,329,353 | BOYAmt |
| EOY | $94,208,841 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,299,694 | BOYAmt |
| EOY | $20,578,227 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165,049,273 | BOYAmt |
| EOY | $168,338,775 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,411,936 | BOYAmt |
| EOY | $76,001,013 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,411,936 | BOYAmt |
| EOY | $76,001,013 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $242,461,209 | BOYAmt |
| EOY | $244,339,788 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$1,410,923 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | false | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $263,513,672 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $81,415,759 | DepreciationAmt |
| Book Value | $182,097,913 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $182,097,913 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMNTS IN ASSOC ORGANIZATIONS | Desc |
| Book Value | $15,258,889 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $15,258,889 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED POSTRETIREMENT BENEFIT COST | $20,284,300 |
| UNAMORTIZED GAIN ON REACQUIRED DEBT | $293,927 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $20,578,227 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $159,459,005 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $159,459,005 | RevenueSubtotalAmt |
| Other Revenues Not Included | $7,500,913 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $7,500,913 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $166,959,918 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $156,284,061 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $156,284,061 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $10,675,857 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $10,675,857 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $166,959,918 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 4, PART XI, LINE 4B | THE COOPERATIVE HAS A MARGIN STABILIZATION PLAN IN WHICH 0 ACTUAL MARGINS ABOVE OR BELOW THE ESTABLISHED T.I.E.R. 0 (TIMES INTEREST EARNED RATIO) ARE DEFERRED AND RECORDED 0 AS A DEFERRED DEBIT OR CREDIT FOR FINANCIAL REPORTING. 0 FOR TAX RETURN REPORTING OF REVENUES, AS WELL AS FOR 0 PATRONAGE CAPITAL CREDITS ALLOCATIONS, THE PLAN IS 0 DISREGARDED. THE TIER ADJUSTMENT IS 7,686,889 7,686,889 THE COOPERATIVE RECOGNIZES UNBILLED REVENUE FOR FINANCIAL 0 REPORTING. FOR TAX RETURN REPORTING OF PATRONAGE CAPITAL 0 CREDIT ALLOCATIONS, AS WELL AS FOR REPORTING OF REVENUES, 0 UNBILLED REVENUE IS DISREGARDED. 0 THE ADJUSTMENT FOR THE CHANGE 0 IN UNBILLED REVENUE IS (185,976) -185,976 |
| SCHEDULE D, PAGE 4, PART XII, LINE 4B | AMOUNT REPORTED ON FORM 990, PART IX, LINE 4 AS BENEFITS 0 PAID TO OR FOR MEMBERS IS NOT REPORTED AS AN EXPENSE IN 0 THE FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING 0 PRINCIPLES ( GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS 0 PAID AS AN EXPENSE 10,675,857 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt |
|---|---|---|---|---|---|---|---|
| A BERL DAVIS JR | |||||||
| PRES. & CEO | $316,516 | $18,434 | $9,198 | $85,906 | $18,228 | $429,848 | $18,434 |
| WILSON D SALEEBY | |||||||
| VP OP/ENGIN | $213,084 | $2,364 | $49,495 | $18,228 | $283,171 | ||
| GARY E JEGER | |||||||
| SR. VP INFOR SYS | $197,088 | $5,538 | $63,362 | $18,228 | $284,216 | ||
| TANYA K TRULL | |||||||
| VP FINANCE | $171,296 | $5,392 | $50,782 | $23,244 | $250,714 | ||
| LEWIE DAVIS | |||||||
| VP CUST SVC | $158,924 | $5,089 | $50,742 | $18,228 | $232,983 | ||
| OMER K DUBOSE | |||||||
| OPER MGR | $143,155 | $3,048 | $43,968 | $18,228 | $208,399 | ||
| ROBERT CASAVANT | |||||||
| ENGIN MGR | $141,213 | $4,385 | $48,329 | $18,228 | $212,155 | ||
| GEORGIA VIDO | |||||||
| VP HR | $133,760 | $7,512 | $30,352 | $23,244 | $194,868 | ||
| BRUCE DRAPER | |||||||
| OPER MGR | $134,524 | $2,913 | $39,243 | $23,244 | $199,924 | ||
| TIM HUTCHINSON | |||||||
| SYSTEM ENGINEER | $126,703 | $3,108 | $40,544 | $18,228 | $188,583 | ||
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 | IN ACCORDANCE WITH ITS BYLAWS, THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY PATRON SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE PATRON. PURSUANT TO THE BYLAWS, THE COOPERATIVE HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO ITS MEMBERS REPORTED ON FORM 990, PART IX, LINE 4 TO BE CAPITAL CREDITS ALLOCATED FOR 2016. |
| FORM 990, PAGE 6, PART VI, LINE 6 | THE ORGANIZATION IS ORGANIZED AND OPERATED AS A COOPERATIVE. IT IS COMPRISED OF MEMBERS WHO OWN AND MANAGE THE CORPORATION. THE MEMBER IS DEFINED AS A "PERSON" ( AN INDIVIDUAL, CORPORATION, OR COOPERATIVE) ENTITLED TO PARTICIPATE IN THE COOPERATIVE'S MANAGEMENT. A PERSON MAY BECOME A MEMBER OF THE COOPERATIVE BY: A. APPLYING FOR MEMBERSHIP THEREIN UPON SUCH TERMS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS; B. AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE; C. AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS; D. PAYING THE MEMBERSHIP FEE. |
| FORM 990, PAGE 6, PART VI, LINE 7A | EACH MEMBER HAS ONE VOTE. DIRECTORS ARE ELECTED BY THE MEMBERS. |
| FORM 990, PAGE 6, PART VI, LINE 7B | EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO ONE (1) VOTE AND NO MORE UPON EACH MATTER SUBMITTED TO A VOTE AT ALL MEETINGS OF THE MEMBERS OF THE COOPERATIVE. A MEMBER HAS THE RIGHT TO HELP ELECT THE BOARD OF DIRECTORS AND PARTICIPATE IN THE COOPERATIVE'S BUSINESS. DIRECTORS SHALL SERVE TERMS OF THREE (3) YEARS EACH AND SHALL BE ELECTED AT EACH ANNUAL MEETING OF THE MEMBERS AND EACH SHALL SERVE UNTIL A SUCCESSOR HAS BEEN ELECTED. REMOVAL - ANY MEMBER MAY BRING CHARGES AGAINST A DIRECTOR BY FILING SUCH CHARGES IN WRITING WITH THE SECRETARY, TOGETHER WITH A PETITION SIGNED BY AT LEAST TEN PER CENTUM OF THE MEMBERS AND REQUEST THE REMOVAL OF SUCH DIRECTOR BY REASON THEREOF. DISSOLUTION AND/OR SALE OF ASSETS - SALE OF THE COOPERATIVE'S PROPERTY AND ASSETS SHALL BE AUTHORIZED IN THE FOLLOWING MANNER: 1) THE BOARD OF DIRECTORS SHALL ADOPT A RESOLUTION RECOMMENDING SUCH SALE, AND DIRECTING THE RESOLUTION TO A VOTE AT A MEETING OF THE MEMBERS. 2) WRITTEN OR PRINTED NOTICE WILL BE PROVIDED TO THE MEMBERS; 3) THE VOTING MEMBERS MAY AUTHORIZE THE SALE AND SUCH AUTHORIZATION SHALL REQUIRE THE AFFIRMATIVE VOTE OF AT LEAST 2/3 OF ALL THE MEMBERS OF THE COOPERATIVE. |
| FORM 990, PAGE 6, PART VI, LINE 11B | A DRAFT COPY OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS AT THE REGULAR BOARD MEETING PRIOR TO THE DUE DATE OF THE RETURN BEING FILED FOR THEIR REVIEW. |
| FORM 990, PAGE 6, PART VI, LINE 12C | EACH YEAR THE BOARD OF TRUSTEES SHALL REVIEW WHETHER ANY CURRENT OR FORMER OFFICER, TRUSTEE OR KEY EMPLOYEE: 1. HAS A DIRECT BUSINESS RELATIONSHIP WITH THE COOPERATIVE OR AN INDIRECT BUSINESS RELATIONSHIP WITH THE COOPERATIVE REQUIRING DISCLOSURE ON SCH L OF THE FORM 990. 2. HAS A FAMILY MEMBER WHO HAD A DIRECT OR INDIRECT BUSINESS RELATIONSHIP WITH THE COOPERATIVE REQUIRING DISCLOSURE ON SCH L OF THE FORM 990; OR 3. SERVES AS AN OFFICER, TRUSTEE, DIRECTOR, KEY EMPLOYEE, PARTNER OR MEMBER OF AN ENTITY (OR SHAREHOLDER OF A PROFESSIONAL CORPORATION) DOING BUSINESS WITH THE COOPERATIVE, SUCH THAT DISCLOSURE IS REQUIRED ON SCH L OF THE FORM 990. |
| FORM 990, PAGE 6, PART VI, LINE 15A | EXECUTIVE COMPENSATION IS REVIEWED AND RECOMMENDED BY AN INDEPENDENT COMPENSATION CONSULTANT AND APPROVED BY THE PRESIDENTIAL APPRAISAL COMMITTEE. |
| FORM 990, PAGE 6, PART VI, LINE 15B | KEY EMPLOYEES COMPENSATION IS REVIEWED BY AN INDEPENDENT COMPENSATION CONSULTANT AND APPROVED BY THE CEO. |
| FORM 990, PAGE 6, PART VI, LINE 19 | GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS UPON REQUEST AT EACH OFFICE AND THE COOPERATIVE'S WEBSITE WWW.PALMETTO.COOP. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST AT EACH OFFICE. ANNUAL REPORTS ARE MAILED TO THE MEMBERS EACH YEAR AND ADDITIONAL COPIES ARE AVAILABLE AT EACH OFFICE AND ON THE COOPERATIVE'S WEBSITE. |
| FORM 990, PART XI, LINE 9 | INCREASE IN MEMBERSHIPS 2,800 INCREASE IN OTHER EQUITIES 184,242 NET MARGINS PER GAAP FINANCIAL STMTS 3,174,944 PATRONAGE CAPITAL RETIRED -4,772,909 TOTAL -1,410,923 OTHER CHANGES IN NET ASSETS - SUMMARY INCREASE IN MEMBERSHIPS 2,800 INCREASE IN OTHER EQUITIES 184,242 PATRONAGE CAPITAL RETIRED (4,772,909) SUBTOTAL (4,585,867) ADJUST FOR 2016 PATRONAGE CAPITAL REPORTED AS EXPENSE ON FORM 990, BUT REPORTED AS INCREASE IN EQUITY PER AUDITED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GAAP ( SEE SCHEDULE D ) 10,675,857 ADJUST FOR CHANGE IN UNBILLED REVENUE DISREGARDED FOR TAX REPORTING ( SEE SCHEDULE D ) 185,976 ADJUST FOR MARGIN STABILIZATION PLAN DISREGARDED FOR TAX REPORTING ( SEE SCHEDULE D ) (7,686,889) SUBTOTAL 3,174,944 OTHER CHANGES IN NET ASSETS AS REPORTED ON FROM 990, PART XI, LINE 9 (1,410,923) |