Nonprofit · EIN 57-0931978
PALMETTO ELECTRIC TRUST
Tax-exempt · RIDGELAND, SC 29936
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $460,709 | $519,990 | -$59,281 | $610,586 | $0 | $610,586 |
| December 31, 2023 | 990 | $421,213 | $405,878 | $15,335 | $669,867 | $0 | $669,867 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $457,445
- Program service revenue
- $0
- Investment income
- $3,264
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $518,030
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $519,990
Balance sheet and other
- Total assets, start of year
- $669,867
- Total assets, end of year
- $610,586
- Total liabilities, end of year
- $0
- Net assets, end of year
- $610,586
- Net assets without donor restrictions
- $610,586
- Gross receipts
- $460,709
- Employees
- 0
- Year formed
- 1989
- 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 |
|---|---|---|---|
| ERNIE AVANT | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| JOHN TIGNOR | VICE CHAIRMA Trustee or director, Officer | 2 | $0 |
| CINDY SWAILES | SECRETARY/TR Trustee or director, Officer | 2 | $0 |
| JANNIE BARNES | DIRECTOR Trustee or director | 2 | $0 |
| SHELLY HUDSON | DIRECTOR Trustee or director | 2 | $0 |
| SUSAN JOHNSON | DIRECTOR Trustee or director | 2 | $0 |
| CHIP MIKELL | DIRECTOR Trustee or director | 2 | $0 |
| MARK BERGLIND | DIRECTOR Trustee or director | 2 | $0 |
| LINDA FERGUSON | DIRECTOR Trustee or director | 2 | $0 |
| ANNIE GOODMAN | DIRECTOR Trustee or director | 2 | $0 |
| NATASHA AIKEN | DIRECTOR Trustee or director | 2 | $0 |
| EDRA STEPHENS | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ERNIE AVANT | CHAIRMAN Trustee or director, Officer | 2 | $0 |
| JOHN TIGNOR | VICE CHAIRMA Trustee or director, Officer | 2 | $0 |
| CINDY SWAILES | SECRETARY/TR Trustee or director, Officer | 2 | $0 |
| JANNIE BARNES | DIRECTOR Trustee or director | 2 | $0 |
| SHELLY HUDSON | DIRECTOR Trustee or director | 2 | $0 |
| SUSAN JOHNSON | DIRECTOR Trustee or director | 2 | $0 |
| CHIP MIKELL | DIRECTOR Trustee or director | 2 | $0 |
| MARK BERGLIND | DIRECTOR Trustee or director | 2 | $0 |
| LINDA FERGUSON | DIRECTOR Trustee or director | 2 | $0 |
| ANNIE GOODMAN | DIRECTOR Trustee or director | 2 | $0 |
| DEBORAH S GOVAN | DIRECTOR Trustee or director | 2 | $0 |
| EARL GREEN | DIRECTOR Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 4063 GRAYS HWY, RIDGELAND, SC 29936-4360
- Principal officer (990 for 2024)
- ERNIE AVANT, 4063 GRAYS HWY, RIDGELAND, SC 29936
- Signed the 990
- A BERL DAVIS JR, PRESIDENT/CEO
- Phone
- (843) 726-5551
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
Mission
CHARITABLE FUNDRAISING SERVICES FOR WORTHWHILE COMMUNITY ACTIVITIES BY ROUNDING UP ELECTRIC BILLS TO AN EVEN DOLLAR AMOUNT, WITH DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF PALMETTO ELECTRIC COOPERATIVE, INC.
Program accomplishments
- PALMETTO ELECTRIC TRUST WAS FORMED TO PROVIDE FINANCIAL ASSISTANCE FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF PALMETTO ELECTRIC COOPERATIVE, INC.Expenses $510,990 · grants $509,030
- PALMETTO ELECTRIC TRUST WAS FORMED TO PROVIDE FINANCIAL ASSISTANCE FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF PALMETTO ELECTRIC COOPERATIVE, INC.Expenses $9,000 · grants $9,000
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
- 57-0931978
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $610,586
- Income (IRS master file)
- $460,709
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $460,709 | $519,990 | $610,586 | XML |
| 990 | December 2023 | $421,213 | $405,878 | $669,867 | XML |
| 990 | December 2022 | $438,733 | $388,462 | $654,532 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 57-0931978).
Questions about PALMETTO ELECTRIC TRUST
- What is the EIN of PALMETTO ELECTRIC TRUST?
- The employer identification number (EIN) of PALMETTO ELECTRIC TRUST is 57-0931978.
- Is PALMETTO ELECTRIC TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
- Are donations to PALMETTO ELECTRIC TRUST tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PALMETTO ELECTRIC TRUST 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 TRUST 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 TRUST 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 TRUST?
- The 990 for the year ended December 31, 2024 names ERNIE AVANT.
- Who are the officers and directors of PALMETTO ELECTRIC TRUST?
- The 990 for the year ended December 31, 2024 lists 12 people; 0 received compensation from the organization.
- How much revenue does PALMETTO ELECTRIC TRUST have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $460,709, expenses of $519,990 and total assets of $610,586 at year end.
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