Nonprofit · EIN 57-0221355
PALMETTO ELECTRIC COOPERATIVE INC
Tax-exempt · RIDGELAND, SC 29936
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $194,786,503 | $194,786,503 | $0 | $321,081,636 | $216,375,901 | $104,705,735 |
| December 31, 2023 | 990 | $182,854,455 | $182,854,455 | $0 | $297,800,025 | $195,846,174 | $101,953,851 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $194,731,033
- Investment income
- $55,470
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $10,292,105
- Compensation of officers, directors and key employees
- $1,380,425
- Salaries, compensation and benefits (total)
- $1,380,425
- Professional fundraising fees
- $0
- Depreciation
- $11,118,497
Balance sheet and other
- Total assets, start of year
- $297,800,025
- Total assets, end of year
- $321,081,636
- Total liabilities, end of year
- $216,375,901
- Net assets, end of year
- $104,705,735
- Land, buildings and equipment
- $250,392,255
- Gross receipts
- $194,786,503
- Employees
- 166
- Year formed
- 1940
- 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 |
|---|---|---|---|---|
| A BERL DAVIS JR | PRES. & CEO Officer | 50 | $569,226 | $467,312 |
| TANYA K TRULL | V.P FINANCE Highest-paid employee | 50 | $274,758 | $179,076 |
| WILSON D SALEEBY | V.P ENGIN/OP Highest-paid employee | 45 | $323,819 | $120,258 |
| GEORGIA VIDO | V.P HUMAN RE Highest-paid employee | 45 | $267,915 | $144,116 |
| BRUCE K DRAPER | OPERATIONS M Highest-paid employee | 40 | $307,437 | $104,023 |
| RICHARD E HUNTER III | V.P MARKETIN Highest-paid employee | 50 | $257,122 | $130,314 |
| JAMES L ROWE | DIRECTOR Trustee or director | 7.5 | $49,391 | $0 |
| WILLIAM J NIMMER | DIRECTOR Trustee or director | 1 | $41,053 | $0 |
| ALICIA HOLLAND | DIRECTOR Trustee or director | 5 | $33,676 | $0 |
| DAVID HOWARD | DIRECTOR Trustee or director | 3.5 | $31,427 | $0 |
| DREARL BOSTICK SR | DIRECTOR Trustee or director | 4 | $30,889 | $0 |
| JEREMIAH E VAIGNEUR | CHAIRMAN Trustee or director, Officer | 7 | $29,839 | $0 |
| D TERRELL SMITH | VICE CHAIRMA Trustee or director, Officer | 5 | $29,167 | $0 |
| CAROLYN GRANT | SECRETARY-TR Trustee or director, Officer | 3.5 | $26,751 | $0 |
| THOMAS STANLEY JR | DIRECTOR Trustee or director | 2 | $25,127 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID L WHITE | DIRECTOR Trustee or director | 3.5 | $19,517 |
| GREG COOK | DIRECTOR Trustee or director | 4 | $17,800 |
| NICHOLAS T GOHAGAN | DIRECTOR Trustee or director | 4 | $9,250 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| A BERL DAVIS JR | PRES. & CEO Officer | 50 | $535,348 | $394,026 |
| TANYA K TRULL | V.P FINANCE Highest-paid employee | 50 | $256,957 | $169,525 |
| WILSON D SALEEBY | V.P ENGIN/OP Highest-paid employee | 45 | $293,798 | $110,464 |
| GEORGIA VIDO | V.P HUMAN RE Highest-paid employee | 45 | $248,122 | $135,942 |
| MICHAEL TAYLOR | V.P INFORMAT Highest-paid employee | 45 | $221,733 | $139,989 |
| RICHARD E HUNTER III | V.P MARKETIN Highest-paid employee | 50 | $236,291 | $122,093 |
| JAMES L ROWE | DIRECTOR Trustee or director | 7.5 | $48,779 | $0 |
| EUNICE F SPILLIARDS | DIRECTOR (PA Trustee or director | – | $41,494 | $0 |
| WILLIAM J NIMMER | DIRECTOR Trustee or director | 1 | $39,192 | $0 |
| JEREMIAH E VAIGNEUR | CHAIRMAN Trustee or director, Officer | 7 | $33,295 | $0 |
| ALICIA HOLLAND | DIRECTOR Trustee or director | 5 | $30,792 | $0 |
| DREARL BOSTICK SR | DIRECTOR Trustee or director | 4 | $29,945 | $0 |
| D TERRELL SMITH | VICE CHAIRMA Trustee or director, Officer | 5 | $26,990 | $0 |
| CAROLYN GRANT | SECRETARY-TR Trustee or director, Officer | 3.5 | $24,057 | $0 |
| GREG COOK | DIRECTOR Trustee or director | 4 | $20,100 | $0 |
| DAVID HOWARD | DIRECTOR Trustee or director | 3.5 | $19,311 | $0 |
| DAVID L WHITE | DIRECTOR Trustee or director | 3.5 | $16,776 | $0 |
| THOMAS STANLEY JR | DIRECTOR Trustee or director | 2 | $16,161 | $0 |
| C ALEX ULMER | DIRECTOR (PA Trustee or director | – | $16,069 | $0 |
| NICHOLAS T GOHAGAN | DIRECTOR Trustee or director | 4 | $11,550 | $0 |
Address and contacts
- Address (IRS master file)
- 4063 GRAYS HWY, RIDGELAND, SC 29936-4360
- Principal officer (990 for 2024)
- A BERL DAVIS JR, 4063 GRAYS HWY, RIDGELAND, SC 29936
- Signed the 990
- A BERL DAVIS JR, PRES. & CEO
- Phone
- (843) 726-5551
- Website
- WWW.PALMETTO.COOP
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
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
Program accomplishments
- 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
- 57-0221355
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $321,081,636
- Income (IRS master file)
- $194,786,503
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $194,786,503 | $194,786,503 | $321,081,636 | XML |
| 990 | December 2023 | $182,854,455 | $182,854,455 | $297,800,025 | XML |
| 990 | December 2022 | $176,682,472 | $176,682,472 | $275,456,875 | 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 57-0221355).
Questions about PALMETTO ELECTRIC COOPERATIVE INC
- What is the EIN of PALMETTO ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of PALMETTO ELECTRIC COOPERATIVE INC is 57-0221355.
- Is PALMETTO ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1944.
- Are donations to PALMETTO ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PALMETTO 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 PALMETTO 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 PALMETTO 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 PALMETTO ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names A BERL DAVIS JR.
- Who are the officers and directors of PALMETTO ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 18 people; 18 received compensation from the organization, the highest $569,226 (A BERL DAVIS JR, PRES. & CEO).
- How much revenue does PALMETTO ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $194,786,503, expenses of $194,786,503 and total assets of $321,081,636 at year end.
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