2025-11-05T11:15:50-05:00 2024-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2024-01-01 570221355 PALMETTO ELECTRIC COOPERATIVE INC PALM 8437265551 4063 GRAYS HWY RIDGELAND SC 29936 A BERL DAVIS JR PRES. & CEO 8437265551 2025-11-04 true false H TERRELL MCMICHAEL JR P01259982 4787466277 2025-11-05 2024 2025-03-06 01:10:19Z A BERL DAVIS JR 4063 GRAYS HWY RIDGELAND SC 29936 194786503 false X WWW.PALMETTO.COOP X 1940 SC TO DELIVER COMPETITIVELY PRICED, RELIABLE ENERGY AND INNOVATIVE RELATED SERVICES TO ITS MEMBERS AND TO PROVIDE LEADERSHIP AND SUPPORT TO THE COMMUNITIES WE SERVE 12 12 166 0 0 182799433 194731033 55022 55470 0 182854455 194786503 0 8219553 10292105 1273093 1380425 0 0 173361809 183113973 182854455 194786503 0 297800025 321081636 196516427 216375901 101283598 104705735 TO DELIVER COMPETITIVELY PRICED, RELIABLE ENERGY AND INNOVATIVE RELATED SERVICES TO ITS MEMBERS AND TO PROVIDE LEADERSHIP AND SUPPORT TO THE COMMUNITIES WE SERVE 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 69 0 false 166 true false false false false false 192505056 606543 false false false X 12 12 false false false false true true true true true false false true true true true true true true true false SC X TANYA K TRULL 8437265551 4063 GRAYS HWY RIDGELAND SC 29936 JEREMIAH E VAIGNEUR CHAIRMAN 7.00 X X 29839 0 0 D TERRELL SMITH VICE CHAIRMA 5.00 X X 29167 0 0 CAROLYN GRANT SECRETARY-TR 3.50 X X 26751 0 0 DREARL BOSTICK SR DIRECTOR 4.00 X 30889 0 0 GREG COOK DIRECTOR 4.00 X 17800 0 0 ALICIA HOLLAND DIRECTOR 5.00 X 33676 0 0 NICHOLAS T GOHAGAN DIRECTOR 4.00 X 9250 0 0 WILLIAM J NIMMER DIRECTOR 1.00 X 41053 0 0 JAMES L ROWE DIRECTOR 7.50 X 49391 0 0 DAVID L WHITE DIRECTOR 3.50 X 19517 0 0 THOMAS STANLEY JR DIRECTOR 2.00 X 25127 0 0 DAVID HOWARD DIRECTOR 3.50 X 31427 0 0 A BERL DAVIS JR PRES. & CEO 50.00 X 569226 0 467312 WILSON D SALEEBY V.P ENGIN/OP 45.00 X 323819 0 120258 TANYA K TRULL V.P FINANCE 50.00 X 274758 0 179076 GEORGIA VIDO V.P HUMAN RE 45.00 X 267915 0 144116 RICHARD E HUNTER III V.P MARKETIN 50.00 X 257122 0 130314 BRUCE K DRAPER OPERATIONS M 40.00 X 307437 0 104023 2344164 1145099 79 false true false INFRATECH CORPORATION 2036 BAKER CT KENNESAW GA 30144 CONSTRUCTION 3448751 SOUTHEASTERN LIMB AND TREE LLC PO BOX 1872 RIDGELAND SC 29936 RIGHT OF WAY 1580314 SOUTHEAST UTILITIES OF GEORGIA 2839 US HIGHWAY 80 W STE A SAVANNAH GA 31408 FIBER CONSTRUC. 1511494 FIBER OPTIC SOLUTIONS LLC PO BOX 2570 WEAVERVILLE NC 28787 FIBER CONSTRUC. 1295459 MCCALL-THOMAS ENGINEERING CO 845 STONEWALL JACKSON BLVD ORANGEBURG SC 29115 ENGINEERING 954713 24 ELECTRIC SALES 221000 192505056 192505056 GENERAL AND TRANSMISSION CAPI 221000 1241006 1241006 OTHER CAPITAL CREDIS 221000 835533 835533 OTHER REVENUE 221000 149438 149438 194731033 55470 55470 194786503 194731033 55470 10292105 1380425 6430450 11118497 PURCHASED POWER 125271749 DISTRIBUTION OPERATIONS 9894945 ADMINISTRATIVE AND GENERA 9413842 TAXES AND OTHER 6990192 13994298 194786503 0 0 0 4419931 7651372 19622161 21011724 15385050 14243534 261904 294568 377053234 126660979 231226833 250392255 23009451 24487572 3874695 3000611 297800025 321081636 27215973 29517436 122470780 132011450 2000000 5000000 44829674 49847015 196516427 216375901 X 323385 329725 100960213 104376010 101283598 104705735 297800025 321081636 X 0 3422137 X false true X true false 6000 true SCHEDULE C, PART IV REP BILL HERBKERSMAN REP JEFF BRADLEY REP WESTON NEWTON M B MATTHEWS FOR SENATE REP SHANNON ERICKSON REP BILL HAGER 1354705 1354705 29790229 14849276 14940953 345908300 111811703 234096597 250392255 INVESTMENT IN ASSOC. ORG - CENTRAL 9515770 INVESTMENT IN ASSOC. ORG - CEEUS 6849031 INVESTMENT IN ASSOC. ORG - CFC 4767832 INVESTMENT IN CFC CTC'S 2588436 INVESTMENT IN ASSOC. ORG - SEDC 486594 INVESTMENT IN ASSOC. ORG - FEDERATED 237035 INVESTMENT IN ASSOC. ORG - OTHER 29748 INVESTMENT IN ASSOC. ORG - CRC 13126 24487572 MARGIN STABILIZATION PLAN 31186414 POSTRETIRMENT HEALTHCARE BENEFITS 15891037 EMPLOYEE BENEFIT CLEARING 1412412 FORMER MEMBER RECOVERIES 1098638 DEFERRED COMPENSATION PLAN 258514 49847015 190924848 190924848 3861655 3861655 194786503 184494398 184494398 10292105 10292105 194786503 SCHEDULE D, PAGE 4, PART XI, LINE 4B CHANGE IN UNBILLED REVENUE -572,722 MARGIN STABILIZATION TIER ADJ. 4,434,377 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATION 10,292,105 X X X X false false false A BERL DAVIS JR PRES. & CEO 452512 53018 63696 440016 27296 1036538 WILSON D SALEEBY V.P ENGIN/OP 285359 28470 9990 80648 39610 444077 TANYA K TRULL V.P FINANCE & ACCT 228189 23990 22579 142534 36542 453834 GEORGIA VIDO V.P HUMAN RESOURCES 224090 22305 21520 107788 36328 412031 RICHARD E HUNTER III V.P MARKETING & PR 216611 25246 15265 94252 36062 387436 BRUCE K DRAPER OPERATIONS MANAGER 178565 128872 68648 35375 411460 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 ITS BLYAWS 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 MADE AVAILABLE AND REVIEWED BY THE BOARD OF DIRECTORS AT A REGULAR BOARD MEETING PRIOR TO THE DUE DATE AND FILING OF THE RETURN. 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 CEO'S COMPENSATION IS REVIEWED ANNUALLY BY AN INDEPENDENT COMPENSATION CONSULTANT. THE CONSULTANT PERFORMS A REVIEW OF COMPETITIVE MARKET SALARY DATA FOR CEO'S WORKING FOR ELECTRIC COOPERATIVES AND UTILITIES COMPARABLE TO THE COOPERATIVE UTILIZING METHODOLOGY CONSISTENT WITH IRS GUIDELINES FOR SETTING SALARY RANGES FOR CEO'S FOR NOT-FOR-PROFIT ORGANIZATIONS. THE CONSULTANT PRESENTS UP-TO-DATE SALARY INFORMATION IN COMPARABLY-SIZED COOPERATIVES AND SIMILAR ORGANIZATIONS BASED ON: TOTAL CUSTOMERS SERVED, OPERATING REVENUE, TOTAL UTILITY PLANT, AND WORKFORCE SIZE. BASED UPON RECOMMENDATION BY THE INDEPENDENT CONSULTANT AND A BOARD SURVEY OF THE CEO'S PERFORMANCE, THE PRESIDENTIAL APPRAISAL COMMITTEE APPROVES THE CEO'S COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 15B AN INDEPENDENT CONSULTANT PERFORMS A REVIEW OF COMPETITIVE MARKET SALARY DATA FOR VICE PRESIDENTS (VP) AND HIGHLY COMPENSATED EMPLOYEES WORKING FOR SIMILAR SIZE ELECTRIC COOPERATIVES AND UTILITIES WITH COMPARABLE JOB DESCRIPTIONS. BASED ON THE CONSULTANTS RECOMMENDED SALARY RANGES AND THE EMPLOYEE'S PERFORMANCE, THE CEO APPROVES VP AND OTHER HIGHLY COMPENSATED EMPLOYEE COMPENSATION ANNUALLY. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO MEMBERS AND THE PUBLIC UPON REQUEST AND THE COOPERATIVE'S WEBSITE WWW.PALMETTO.COOP. IN ADDITION, THE COOPERATIVE MAKES ITS BYLAWS, CERTAIN POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. FORM 990, PART XI, LINE 9 MEMBERSHIPS 6,340 PATRONAGE CAPITAL CREDITS 10,292,105 OTHER 105,991 CHANGE IN UNBILLED 572,722 PATRONAGE CAPITAL CREDIT RETIREMENTS -3,120,644 MARGIN STABALIZATION PLAN TIER ADJUSTMENT -4,434,377 TOTAL 3,422,137 PALMETTO ELECTRIC TRUST 4063 GRAYS HWY RIDGELAND SC 29936 570931978 CHARITY SC 3 7 NA false false false false false false false false false false false false false false false true false false false false PALMETTO ELECTRIC TRUST O 9159 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 PALMETTO ELECTRIC TRUST (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 PALMETTO ECI. THE TRUST HAS NO EMPLOYEES. THE TRANSACTIONS BETWEEN THE CORPORATION AND THE TRUST REPORTED ON SCHEDULE R, PART V REPRESENT THE VALUE OF THE SERVICES DONATED BY THE CORPORATION TO THE TRUST.