2025-04-07T14:03:45-04:00 2024-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2024-01-01 570240935 SANTEE ELECTRIC COOPERATIVE INC SANT 8433556187 PO BOX 548 KINGSTREE SC 29556 BILLY L MORRIS JR CHAIRMAN 8433550690 2025-03-26 true false WILLIAM R ROUNTREE P01231836 4787466277 2025-04-07 2024 2025-03-06 01:10:19Z BILLY L MORRIS JR PO BOX 548 KINGSTREE SC 29556 135947346 false X WWW.SANTEE.ORG X 1939 SC TO PROVIDE QUALITY SERVICE AND PRODUCTS TO MEET THE ENERGY NEEDS OF OUR MEMBERS AT A COMPETITIVE PRICE CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ENHANCING THE QUALITY OF LIFE IN OUR SERVICE AREA THROUGH THE SUPPORT OF ECONOMIC, CIVIC AND EDUCATIONAL OPPORTUNITIES. 9 9 126 0 0 128460225 134485639 242840 395416 4339086 1066291 133042151 135947346 0 5202677 5822845 19202036 20200383 0 0 108637438 109924118 133042151 135947346 0 280951194 282800638 180419772 176033935 100531422 106766703 X TO PROVIDE QUALITY SERVICE AND PRODUCTS TO MEET THE ENERGY NEEDS OF OUR MEMBERS AT A COMPETITIVE PRICE CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ENHANCING THE QUALITY OF LIFE IN OUR SERVICE AREA THROUGH THE SUPPORT OF ECONOMIC, CIVIC AND EDUCATIONAL OPPORTUNITIES. false false 135947346 TO PROVIDE SAFE AND RELIABLE ELECTRICITY TO ALL WHO DESIRE IT WITHIN THE COUNTIES WE SERVE. 135947346 false false true false false false false false false true false true true true false false false false false false false false false false false false false false true false false false false false false false false false false true true false false true 116 0 true 126 true false false false false false 133455137 489942 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 JAMES R COOPER CFO 8433556187 PO BOX 548 KNGSTREE SC 29556 X BILLY L MORRIS JR CHAIRMAN 8.00 X X 44832 0 0 ALLEN NESMITH VICE CHAIRMA 8.00 X X 23408 0 0 WILLIAM FLOYD SECOND VICE 8.00 X X 1866 0 20000 DONALD E COKER SEC-TREAS 8.00 X X 40903 0 0 ANDY D MCKNIGHT ASST. SEC-TR 8.00 X 39228 0 0 WALTER SANDERS TRUSTEE 8.00 X 22946 0 0 DUDLEY MUSIER TRUSTEE 8.00 X 24560 0 0 HARRY WALTERS TRUSTEE 8.00 X 13866 0 0 TIMOTHY COOPER TRUSTEE 8.00 X 10914 0 0 ROBERT ARDIS III PRESIDENT & 50.00 X 409481 0 194053 JAMES R COOPER VICE PRESIDE 50.00 X 225645 0 128836 ROBERT F HIGBE III VP-ENGINEERI 50.00 X 209301 0 126615 RONALD A JOHNSON VP-OPERATION 47.00 X 181865 0 108833 JAMES KIRBY VP-PUBLIC AF 40.00 X 160931 0 35486 JAIME JOHNSON CREW FOREMAN 50.00 X 164519 0 81548 CHRISTIE DYSON MGR. OF GIS, 45.00 X 146628 0 97097 1720893 792468 37 false true false CEE-US PO BOX 3269 WEST COLUMBIA SC 291713269 MATERIALS 7728144 THOMPSON HOLDINGS LLC 100 N MAIN STREET SUMTER SC 29150 CONSTRUCTION 1809535 XYLEM 1 LLC 208 EAST PLUME ST STE 250 NORFOLK VA 23510 ROW 1388396 DAVIS CONSTRUCTION UTILITY 1230 LARRIMORE DRIVE MANNING SC 29102 CONSTRUCTION 344165 FVS LLC 817 PHILLIPS ROAD WALTERBORO SC 29488 ROW 278811 11 ELECTRIC REVENUE 221000 132428595 132428595 G & T CAPITAL CREDITS 221000 842613 842613 POLE RENTAL 221000 756250 756250 OTHER CAPITAL CREDITS 221000 458181 458181 134485639 395416 395416 SUB REVENUE 1026542 1026542 OTHER 39749 39749 1066291 135947346 134795680 1151666 5822845 1200538 10243965 4263178 3704886 787816 79955 110632 356308 261027 285151 855453 50190 200760 4658275 9024057 582530 PURCHASED POWER 85085419 DISTRIBUTION OPERATIONS 7142387 DISTRIBUTION MAINTENANCE 6813198 CONSUMER ACCOUNTS 1098550 -6679774 135947346 0 0 0 22042353 4953874 3000000 14990696 15733978 1921847 1734236 4192102 4455072 265111 349782 307271824 91364537 206735437 215907287 18503851 20563161 12299797 16103248 280951194 282800638 14839344 17517853 155287805 147483875 10292623 11032207 180419772 176033935 X 188110 188610 100343312 106578093 100531422 106766703 280951194 282800638 X 0 6235281 X X false true X true true true 1000 1000 1000 true JOHNSON FOR SENATE 424 SUMTER HIGHWAY KINGSTREE SC 29556 247779572 1000 1891466 1891466 16103847 5543805 10560042 289276511 85820732 203455779 215907287 PATRONAGE CAPITAL FROM ASSOC. 15341700 C INVESTMENT IN SUBS 5221461 C 20563161 APBO PROVISION 14530518 MINT PLAN 982503 INTEREST RECEIVABLE 590227 16103248 REGULATORY LIABILITIES - ASC 980 7482165 CONSUMER DEPOSITS 1822089 DEFERRED CREDITS 1727953 11032207 SCHEDULE D, PAGE 4, PART XIII THE COOPERATIVE'S FISCAL YEAR END IS JUNE 30TH. THE COOPERATIVE'S CONSOLIDATED FINANCIAL STATEMENTS WERE AUDITED AS OF JUNE 30, 2024 AND 2023. THE COOPERATIVE RECEIVED AN UNMODIFIED (CLEAN) AUDIT OPINION FOR EACH OF THE YEARS ENDED JUNE 30, 2024 AND 2023. X X false true false ROBERT ARDIS III PRESIDENT & CEO 380333 1292 27856 171672 22381 603534 JAMES R COOPER VICE PRESIDENT & CFO 208866 1276 15503 95112 33724 354481 ROBERT F HIGBE III VP-ENGINEERING 199485 1276 8540 94287 32328 335916 RONALD A JOHNSON VP-OPERATIONS 168268 1399 12198 76505 32328 290698 JAMES KIRBY VP-PUBLIC AFFAIRS 152508 1399 7024 3158 32328 196417 JAIME JOHNSON CREW FOREMAN 157941 1399 5179 49058 32490 246067 CHRISTIE DYSON MGR. OF GIS, DISP/WH 141460 1399 3769 63942 33155 243725 SCHEDULE J, PAGE 1, PART I, LINE 4 WILLIAM FLOYD 0 20,000 0 SCHEDULE J, PART III THE COOPERATIVE HAS ADOPTED A 457(B) NONQUALIFIED DEFERRED COMPENSATION PLAN FOR ITS TRUSTEES. UNDER THE PLAN, TRUSTEES MAY DEFER THEIR COMPENSATION UNTIL SEPARATION FROM THE BOARD. AMOUNTS DEFERRED FOR THE YEAR ENDED DECEMBER 31, 2024 ARE NOT INCLUDED IN EACH DIRECTOR'S 1099- NEC COMPENSATION IN PART VII OF THE FORM 990, BUT ARE REPORTED ON PART VII, COLUMN F AS OTHER COMPENSATION RECEIVED FROM THE ORGANIZATION. 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. IN CONJUNCTION WITH THE COMPENSATION INFORMATION REQUIRED BY FORM 990, THE COOPERATIVE HAS OPTED TO PROVIDE THE ADDITIONAL DETAIL REQUIRED BY STATE LAW AS AN ATTACHMENT TO THIS RETURN. FORM 990 - ORGANIZATION'S MISSION TO PROVIDE QUALITY SERVICE AND PRODUCTS TO MEET THE ENERGY NEEDS OF OUR MEMBERS AT A COMPETITIVE PRICE CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ENHANCING THE QUALITY OF LIFE IN OUR SERVICE AREA THROUGH THE SUPPORT OF ECONOMIC, CIVIC AND EDUCATIONAL OPPORTUNITIES. FORM 990, PART VI DISCLOSURE REQUIREMENT: TRUSTEES ARE REQUIRED TO DISCLOSE ANY GOODS/SERVICES PROVIDED BY ANY COMPANY (OF WHICH THE COOPERATIVE IS NOT AN OWNER AND/OR A MEMBER) THAT HAS/DESIRES A BUSINESS RELATIONSHIP WITH THE COOPERATIVE. THE TRUSTEES WERE ASKED TO DISCLOSE ANY SUCH ITEMS AT OUR JANUARY 23, 2025 BOARD MEETING, AND NO KNOWN CASES WERE REPORTED. FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY 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 ITS 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 ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15A THE MARKET RANGE FOR THE TOP OFFICIAL IS DETERMINED LIKE ALL OF THE OTHER EMPLOYEES - BASED ON SALARY STATISTICS FOR THE COOPERATIVES THROUGHOUT THE STATE. THE NATIONAL TRADE ASSOCIATION, NRECA, COLLECTS THE DATA AND MAKES IT AVAILABLE TO THOSE WILLING TO PAY A SMALL FEE FOR THE ANNUAL REPORT. USING THAT REPORT OF DATA, SANTEE DETERMINES WHAT THE AVERAGE PAY IN SOUTH CAROLINA IS FOR ANY COMMON POSITION, INCLUDING IT'S TOP OFFICER. THE DATA CAN BE BROKEN DOWN THREE DIFFERENT WAYS BY COOPERATIVE SIZE AND IT CAN ALSO BE STUDIED FOR THE ENTIRE GROUP OF 19 COOPERATIVES IN SOUTH CAROLINA. ONCE THE MARKET RANGE IS DETERMINED, THEN THE EMPLOYEE IS MEASURED AGAINST HIS/HER POSITION DESCRIPTION TO DETERMINE WHERE HE/SHE SHOULD BE IN RELATION TO THE APPROPRIATE MARKET VALUE. THESE RAISES ARE LIMITED BY THE COLLECTIVE AMOUNT THAT THE BOARD APPROVES FOR RAISES WHEN THEY APPROVE THE BUDGET EACH YEAR. THIS RAISE BUDGET AMOUNT IS DETERMINED BY THE COOPERATIVE'S PERFORMANCE IN THREE CAREGORIES - BOTTOM LINE, SAFETY, AND POWER RELIABILITY. THE BOARD ALSO PROVIDES AN ANNUAL COST OF LIVING ADJUSTMENT TO BE ADDED TO THE PERFORMANCE ADJUSTMENT. FORM 990, PAGE 6, PART VI, LINE 15B THE MARKET RANGE FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED IN THE SAME MANNER AS ALL OTHER COOPERATIVE EMPLOYEES - BASED ON SALARY STATISTICS FOR THE COOPERATIVES THROUGHOUT THE STATE OF SOUTH CAROLINA. THE NATIONAL TRADE ASSOCIATION, NRECA, COLLECTS THE DATA AND MAKES IT AVAILABLE TO THOSE WILLING TO PAY A SMALL FEE FOR THE ANNUAL REPORT. USING THE DATA FROM THAT REPORT, SANTEE DETERMINES WHAT THE AVERAGE PAY IN SOUTH CAROLINA IS FOR ANY COMMON POSITION, INCLUDING OFFICERS OR KEY EMPLOYEES. THE NRECA DATA CAN BE BROKEN DOWN INTO MULTIPLE WAYS BY COOPERATIVE SIZE AND IT CAN ALSO BE ANALYZED FOR THE ENTIRE GROUP OF 19 COOPERATIVES IN SOUTH CAROLINA. ONCE THE MARKET RANGE IS DETERMINED, THEN THE EMPLOYEE IS MEASURED AGAINST HIS/HER POSITION DESCRIPTION TO DETERMINE WHERE HE/SHE SHOULD BE IN RELATION TO THE APPROPRIATE MARKET VALUE. THESE RAISES ARE LIMITED BY THE COLLECTIVE AMOUNT THAT THE BOARD APPROVES FOR RAISES WHEN THEY APPROVE THE ANNUAL BUDGET. THE RAISE BUDGET AMOUNT IS DETERMINED BY THE COOPERATIVE'S PERFORMANCE IN THREE CAREGORIES - BOTTOM LINE, SAFETY, AND POWER RELIABILITY. THE BOARD ALSO PROVIDES AN ANNUAL COST OF LIVING ADJUSTMENT TO BE ADDED TO THE PERFORMANCE ADJUSTMENT. 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. THE COOPERATIVE'S BYLAWS ARE MADE AVAILABLE TO THE PUBLIC ON IT'S WEBSITE. FORM 990, PART VII THE COOPERATIVE HAS 9 BOARD SEATS. THE FORM 990 REQUIRES ALL DIRECTORS THAT SERVED DURING THE YEAR TO BE REPORTED ON THE FORM 990 IN PART VII. AS A RESULT, 9 DIRECTORS ARE REPORTED AS RECEIVING COMPENSATION IN PART VII. THE DAILY PER DIEM AMOUNT OF 500 PLACES SANTEE ELECTRIC WITHIN RANGE OF THE AVERAGE FOR OUR STATE AND REGION. WHILE THIS IS NOT CONSIDERED TRADITIONAL COMPENSATION, THE PER DIEM REIMBURSEMENT DOES SERVE TWO VERY IMPORTANT PURPOSES. (1) IT SERVES AS A REMINDER AND AN AGREEMENT THAT THE TRUSTEE OWES A FIDUCIARY DUTY TO THE COOPERATIVE THEY HAVE AGREED TO SERVE. (2) FURTHERMORE, BECAUSE OF THE QUALIFICATIONS REQUIRED TO SERVE ON THE BOARD OF SEC - WITH ANNUAL REVENUES AND TOTAL ASSETS WELL IN EXCESS OF 130M/YEAR AND 280M, RESPECTIVELY - THE MEMBERS OF OUR BOARD QUITE OFTEN HAVE A WIDE RANGE OF RESPONSIBILITIES OUTSIDE OF THEIR BOARD SERVICE. PER DIEM IS A METHOD OF REIMBURSING THEM FOR THE TIME THEY DEDICATE TO THIS SERVICE AND FOR THE EXPERTISE THEY BRING TO THE TABLE. BOARD COMPENSATION IS COMPOSED OF THE FOLLOWING: BILLY L. MORRIS, JR.: REGULAR BOARD MEETING - 5,500 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 7,500 TRAINING AND CERTIFICATION - 500 INSURANCE - 26,966 OTHER FRINGE BENEFITS - 366 TOTAL 1099 COMPENSATION - 44,832 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 8,787 TOTAL - 53,619 ANDY D. MCKNIGHT: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 10,500 TRAINING AND CERTIFICATION - 3,500 INSURANCE - 14,798 OTHER FRINGE BENEFITS - 430 TOTAL 1099 COMPENSATION - 39,228 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 12,240 TOTAL - 51,468 TIMOTHY COOPER: REGULAR BOARD MEETING - 2,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 2,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 2,500 TRAINING AND CERTIFICATION - 4,000 INSURANCE - -0- OTHER FRINGE BENEFITS - 414 TOTAL 1099 COMPENSATION - 10,914 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 9,572 TOTAL - 20,486 DONALD E. COKER: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 14,500 TRAINING AND CERTIFICATION - 500 INSURANCE - 14,925 OTHER FRINGE BENEFITS - 478 TOTAL 1099 COMPENSATION - 40,903 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 8,287 TOTAL - 49,190 WALTER SANDERS: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 12,000 TRAINING AND CERTIFICATION - 500 INSURANCE - -0- OTHER FRINGE BENEFITS - 446 TOTAL 1099 COMPENSATION - 22,946 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 13,710 TOTAL - 36,656 ALLEN NESMITH: REGULAR BOARD MEETING - 5,500 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 11,000 TRAINING AND CERTIFICATION - 2,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 408 TOTAL 1099 COMPENSATION - 23,408 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 11,800 TOTAL - 35,208 HARRY WALTERS: REGULAR BOARD MEETING - 5,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 3,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 3,500 TRAINING AND CERTIFICATION - -0- INSURANCE - -0- OTHER FRINGE BENEFITS - 1,866 TOTAL 1099 COMPENSATION - 13,866 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 3,303 TOTAL - 17,169 WILLIAM FLOYD: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 10,500 TRAINING AND CERTIFICATION - 1,000 INSURANCE - -0- OTHER FRINGE BENEFITS - 366 DEFERRED COMPENSATION 457(B) - (20,000) TOTAL 1099 COMPENSATION - 1,866 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 12,016 TOTAL - 13,882 DUDLEY MUSIER: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 7,500 TRAINING AND CERTIFICATION - 6,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 560 TOTAL 1099 COMPENSATION - 24,560 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 13,839 TOTAL - 38,399 THERE ARE SEVERAL PURPOSES FOR THE SPECIAL BOARD MEETINGS AND COMMITTEE MEETINGS HELD THIS YEAR AND EVERY YEAR. SEVERAL OF THE SPECIAL MEETINGS HELD IN 2024 WERE RELATED TO TIME-SENSITIVE TOPICS, EACH OF WHICH REQUIRED LENGTHY DISCUSSIONS. THESE INCLUDE TOPICS SUCH AS ECONOMIC DEVELOPMENT, LEGAL MATTERS, AND FINANCIAL MATTERS IMPACTING THE COOPERATIVE. AS FOR THE COMMITTEE MEETINGS: (1) THE INSURANCE COMMITTEE (TRUSTEES SANDERS, MUSIER, AND FLOYD) TYPICALLY MEETS ONCE PER YEAR TO DISCUSS EMPLOYEE INSURANCE AND BENEFITS. (2) THE FINANCE/ETHICS COMMITTEE (TRUSTEES MCKNIGHT, FLOYD, COKER, AND NESMITH) TYPICALLY MEETS 1-2 TIMES PER YEAR TO DISCUSS THE COOPERATIVE BUDGET. (3) THE SETTING GOALS/EXPECTATIONS COMMITTEE (TRUSTEES NESMITH, WALTERS, MCKNIGHT, AND COKER) TYPICALLY MEETS 1-2 TIMES PER YEAR TO DEAL WITH THE CEO'S EVALUATION, GOALS, AND APPRAISAL. (4) FINALLY, THE POLICY COMMITTEE (TRUSTEES COKER, MUSIER, WALTERS, AND SANDERS) TYPICALLY MEETS 2-3 TIMES PER YEAR TO KEEP THE COOPERATIVE'S GOVERNING POLICIES CURRENT WITH TODAY'S LAWS AND CIRCUMSTANCES. THE CHAIRMAN, CURRENTLY BILLY L. MORRIS, JR., IS REQUIRED TO SERVE AS AN EX- OFFICIO MEMBER OF EACH COMMITTEE AND IS EXPECTED TO ATTEND ALL COMMITTEE MEETINGS. TRUSTEES ARE REQUIRED FROM TIME TO TIME TO PARTICIPATE IN MEETINGS OF SERVICE ORGANIZATIONS TO WHICH THE COOPERATIVE BELONGS. SINCE INDIVIDUAL COOPERATIVES ARE NECESSARILY SMALL, THEY FORM LARGER OPRGANIZATIONS TO SERVE COMMON NEEDS. OUR MATERIALS SUPPLIER, OUR NATIONAL TRADE ASSOCIATION, OUR STATEWIDE TRADE ASSOCIATION, AND OUR WHOLESALE POWER SUPPLIER ARE SUCH EXAMPLES. PARTICIPATING IN THEIR MEETINGS IS CRUCIAL IN MAKING SURE SANTEE ELECTRIC COOPERATIVE IS WELL-REPRESENTED AT EVERY LEVEL. A GREAT DEAL IS REQUIRED OF OUR TRUSTEES - INCLUDING GETTING (AND MAINTAINING) AN EDUCATION IN ALL THINGS THAT IMPACT THE COOPERATIVE. FOR THIS REASON, WE REQUIRE THEM TO PARTICIPATE IN QUITE A LOT OF TRAINING AND CERTIFICATION. WHILE WE REQUIRE THAT ALL TRUSTEES MAINTAIN A CERTAIN LEVEL AT ALL TIMES, THERE IS A HEAVIER BURDEN PLACED ON NEWER TRUSTEES TO ATTAIN CERTIFICATION QUICKLY. FOR THIS REASON, YOU TYPICALLY SEE SOME OF OUR NEWER TRUSTEES WITH SLIGHTLY HIGHER FIGURES IN THE CATEGORY. IN THE OTHER FRINGE BENEFITS CATEGORY, EACH TRUSTEE WAS GIVEN (1) A CHRISTMAS GIFT BY THE COOPERATIVE (VALUED AT 366.35 EACH) AND (2) A BOX OF ANNUAL MEETING GIFTS (VALUED AT 167.30 PER TRUSTEE) TO DISTRIBUTE TO MEMBERS IN THEIR DISTRICT WHO WERE UNABLE TO ATTEND THIS YEAR'S ANNUAL MEETING. ANDY MCKNIGHT AND ROBERT ARDIS III RECEIVED 13,410 AND 14,900 IN COMPENSATION, RESPECTIVELY, FROM CENTRAL ELECTRIC COOPERATIVE, INC. (CENTRAL) IN 2024. IN ADDITION, ROBERT ARDIS III RECEIVED COMPENSATION FROM THE SOUTH CAROLINA POWER TEAM TOTALING 1,118. CENTRAL DOES NOT MEET THE DEFINITION OF A RELATED ORGANIZATION FOR PURPOSES OF THE FORM 990 AND ARE NOT INCLUDED ON PART R. MR. MCKNIGHT AND MR. ARDIS ONLY HAVE THE ABILITY TO SERVE ON THE BOARD OF CENTRAL BECAUSE THEY ARE OFFICERS OF SANTEE ELECTRIC COOPERATIVE, INC. (SANTEE). CENTRAL IS A GENERATION AND TRANSMISSION COOPERATIVE THAT EXISTS SOLELY FOR THE BENEFIT OF ITS MEMBERS. CENTRAL PROVIDES A RELIABLE, LONG-TERM, AND STABLE SUPPLY OF POWER, WHICH ACCOMODATES GROWTH, AT THE LOWEST POSSIBLE COST CONSISTENT WITH GOOD UTILITY PRACTICE. CENTRAL PROVIDES FOR RELIABLE DELIVERY OF POWER WHEN AND WHERE DESIRED, CONSISTENT WITH APPLICABLE GUIDELINES. CENTRAL PROVIDES ADDITIONAL ENERGY-RELATED OR DELIVERY-RELATED SERVICES, AS DIRECTED BY ITS BOARD OF TRUSTEES. SANTEE HAS A WHOLESALE POWER CONTRACT WITH CENTRAL THAT EXTENDS THROUGH 2058. SANTEE ECI PAID CENTRAL 85,085,421 DURING 2024. FORM 990, PART XI, LINE 9 PATRONAGE CAPITAL CREDITS 5,822,845 CHANGE IN MEMBERSHIPS 500 OTHER COMPREHENSIVE INCOME 2,641,571 OTHER 89,048 CAPITAL CREDIT RETIREMENTS -2,318,683 TOTAL 6,235,281 FIVE RIVERS DEVELOPMENT LLC PO BOX 548 KINGSTREE SC 29556 874822958 ECON DEV SC 1026542 15717213 SANTEE ECI SANTEE ELECTRIC TRUST PO BOX 548 KINGSTREE SC 29556 576152051 CHARITY SC 3 7 N/A false false true false false true false false false false false false false false false false false false false false SANTEE ELECTRIC TRUST B 11437 FMV SANTEE ELECTRIC TRUST E 284804 FMV SCHEDULE R THE CORPORATION'S MEMBERS CAN PARTICIPATE IN AN OPERATION ROUNDUP PROGRAM AND HAVE THEIR ELECTRIC BILL ROUNDED TO THE NEXT HIGHEST WHOLE DOLLAR EACH MONTH. THESE FUNDS ARE TREATED AS CONTRIBUTIONS TO SANTEE OPERATION ROUNDUP,INC. (THE TRUST), A NONPROFIT 501(C)(3) ORGANIZATION. THE TRUST MAINTAINS A SEPARATE BOARD OF DIRECTORS WHICH APPROVES CHARITABLE ASSISTANCE TO THE AREAS SERVED BY SANTEE ELECTRIC CORPORATION. THE TRUST HAS NO EMPLOYEES. THE TRANSACTIONS BETWEEN THE COROPORATION AND THE TRUST REPORTED ON SCHEDULE R, PART V REPRESENT THE VALUE OF THE SERVICES DONATED BY THE CORPORATION TO THE TRUST. THE TRUST DOES NOT MAINTAIN A SEPARATE BANK ACCOUNT. THE CORPORATION HOLDS THE FUNDS AND DISBURSES ASSISTANCE BASED ON APPROVAL BY THE TRUST BOARD. AT DECEMBER 31, 2024, THE CORPORATION HELD 284,804 IN ROUNDUP DONATIONS ON BEHALF OF THE TRUST.