Nonprofit · EIN 57-0196563
LAURENS ELECTRIC COOPERATIVE INC
Tax-exempt · LAURENS, SC 29360
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $163,057,774 | $163,057,774 | $0 | $335,703,725 | $217,024,907 | $118,678,818 |
| December 31, 2023 | 990 | $148,922,807 | $148,922,807 | $0 | $297,132,182 | $184,205,943 | $112,926,239 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $161,660,266
- Investment income
- $182,170
- Net income from sales of inventory
- $524,566
- Other revenue
- $1,215,338
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $7,987,967
- Compensation of officers, directors and key employees
- $722,828
- Salaries, compensation and benefits (total)
- $722,828
- Professional fundraising fees
- $0
- Depreciation
- $9,319,311
Balance sheet and other
- Total assets, start of year
- $297,132,182
- Total assets, end of year
- $335,703,725
- Total liabilities, end of year
- $217,024,907
- Net assets, end of year
- $118,678,818
- Land, buildings and equipment
- $277,631,838
- Gross unrelated business income
- $524,566
- Gross receipts
- $164,269,995
- Employees
- 163
- Year formed
- 1939
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MATTHEW D STANLEY | PRES & CEO Officer | 50 | $325,606 | $115,672 |
| NATHAN BROWN | VP-ENGINEER& Highest-paid employee | 50 | $247,383 | $110,090 |
| JIM DONAHOO | VP MARKETING Highest-paid employee | 50 | $220,340 | $102,949 |
| CHAD ARMSTRONG | VP OF HUMAN Highest-paid employee | 50 | $218,861 | $101,588 |
| CHRISTOPHER J MIERS | VP,MEMBER SE Highest-paid employee | 50 | $208,045 | $98,727 |
| DANIEL OTT | VP OF IT Highest-paid employee | 50 | $173,559 | $85,090 |
| MARCUS COOK | TRUSTEE Trustee or director | 5 | $59,893 | $0 |
| JOE T NICHOLSON | TRUSTEE Trustee or director | 5 | $36,225 | $0 |
| MITCHELL POWERS | SECRETARY/TR Trustee or director, Officer | 5 | $35,038 | $0 |
| CHARLES E ADAIR | CHAIRMAN Trustee or director, Officer | 5 | $33,194 | $0 |
| WILLIAM HENDRIX | VICE CHAIRMA Trustee or director, Officer | 5 | $29,753 | $0 |
| EDDIE ABRAMS | TRUSTEE Trustee or director | 5 | $27,698 | $0 |
| JIMMIE PERRY | TRUSTEE Trustee or director | 5 | $25,948 | $0 |
| REID FISHER | TRUSTEE Trustee or director | 5 | $21,848 | $0 |
| JANICE CUNNINGHAM | TRUSTEE Trustee or director | 5 | $11,953 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| J DAVID WASSON | PRESIDENT & Officer | 50 | $570,103 | $186,270 |
| NATHAN BROWN | VP-ENGINEER& Highest-paid employee | 50 | $222,249 | $103,176 |
| MATTHEW D STANLEY | PRES & CEO E Highest-paid employee | 50 | $218,242 | $102,191 |
| JIM DONAHOO | VP MARKETING Highest-paid employee | 50 | $197,578 | $96,480 |
| CHAD ARMSTRONG | VP OF HUMAN Highest-paid employee | 50 | $194,105 | $95,199 |
| CHRISTOPHER J MIERS | VP,MEMBER SE Highest-paid employee | 50 | $186,694 | $92,520 |
| MARCUS COOK | TRUSTEE Trustee or director | 5 | $63,094 | $0 |
| JOE T NICHOLSON | TRUSTEE Trustee or director | 5 | $44,930 | $0 |
| MITCHELL POWERS | SECRETARY/TR Trustee or director, Officer | 5 | $41,247 | $0 |
| CHARLES E ADAIR | CHAIRMAN Trustee or director, Officer | 5 | $40,963 | $0 |
| WILLIAM HENDRIX | VICE CHAIRMA Trustee or director, Officer | 5 | $37,554 | $0 |
| EDDIE ABRAMS | TRUSTEE Trustee or director | 5 | $31,992 | $0 |
| JIMMIE PERRY | TRUSTEE Trustee or director | 5 | $31,021 | $0 |
| REID FISHER | TRUSTEE Trustee or director | 5 | $27,433 | $0 |
| WILLIE BELLE BLAKELY | TRUSTEE Trustee or director | 5 | $18,749 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 700, LAURENS, SC 29360-0700
- Principal officer (990 for 2024)
- MATTHEW D STANLEY, PO BOX 700, LAURENS, SC 29360
- Signed the 990
- MATTHEW D STANLEY, PRES & CEO
- Phone
- (864) 682-3141
- Website
- WWW.LAURENSELECTRIC.COM
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
Mission
TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Program accomplishments
- TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHTEST STANDARDS OF SERVICE.
- N/A
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 57-0196563
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W80)
- Assets (IRS master file)
- $335,703,725
- Income (IRS master file)
- $164,269,995
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $163,057,774 | $163,057,774 | $335,703,725 | XML |
| 990 | December 2023 | $148,922,807 | $148,922,807 | $297,132,182 | IRS |
| 990 | December 2022 | $148,035,106 | $148,035,106 | $289,764,029 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-0196563).
Questions about LAURENS ELECTRIC COOPERATIVE INC
- What is the EIN of LAURENS ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of LAURENS ELECTRIC COOPERATIVE INC is 57-0196563.
- Is LAURENS ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1942.
- Are donations to LAURENS ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does LAURENS ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAURENS ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAURENS ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LAURENS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names MATTHEW D STANLEY.
- Who are the officers and directors of LAURENS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 15 people; 15 received compensation from the organization, the highest $325,606 (MATTHEW D STANLEY, PRES & CEO).
- How much revenue does LAURENS ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $163,057,774, expenses of $163,057,774 and total assets of $335,703,725 at year end.
Other nonprofits in LAURENS
- AMERICAN LEGION EIN 90-0674746 · last filed 990-EZ for 2025
- DEPUTY ROGER RICE RIDE-ON FUND EIN 82-2610478 · last filed 990-EZ for 2025
- LAKELANDS REGION YOUNG MENS CHRISTIAN ASSOCIATION EIN 57-0365088 · last filed 990 for 2025
- LAURENS EDUCATION ASSISTANCE FOR DISTRICT NO 55 EIN 20-2697215 · last filed 990 for 2025
- LAURENS ACADEMY INC EIN 57-1028384 · last filed 990 for 2025
- LAURENS MEMORIAL HOME FOR THE AGED INC EIN 57-0531246 · last filed 990 for 2025
- SOUTH CAROLINA EMPOWERMENT CENTRE EIN 46-3507206 · last filed 990 for 2025
- LAKESIDE COUNTRY CLUB EIN 57-0195482 · last filed 990 for 2024
All nonprofits in LAURENS · South Carolina · Public and societal benefit