Black River Electric Cooperative Inc
- Assets
- $113.9m
- Revenue
- $79.0m
- Investments
- $0.0
- Employees
- 78
- Location
- Sumter, SC
- Founding
- 10/1942
- Data as of
- 12/2021
- EIN
- 57-0124487
Organization Overview
Black River Electric Cooperative Inc is located in Sumter, SC. The organization was established in 1942. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Black River Electric Cooperative Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Black River Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Black River Electric Cooperative Inc generated $79.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $78.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRICITY TO RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL MEMBERS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORY WITH RELIABLE AND AFFORDABLE ELECTRICITY WHILE ALSO PROVIDINGS ITS MEMBERS WITH EXCELLENT CUSTOMER SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles R Allen CEO | Officer | 50 | $251,608 |
Betty J Welsh VP Finance & | Officer | 50 | $169,987 |
James F Moye VP Engineeri | 45 | $127,272 | |
Brenda P Chase Govern & Pub | 40 | $114,045 | |
Linsey Robinson Crew Foreman | 46 | $106,665 | |
Charlie Richardson Crew Foreman | 44 | $104,087 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stanley Drake Construction Contractor | 12/30/21 | $593,621 |
Power Line Clearing Right Of Way | 12/30/21 | $355,149 |
Right Way Tree Experts Right Of Way/tr | 12/30/21 | $1,648,454 |
Meridian Cooperative Inc Consumer Acct. | 12/30/21 | $584,277 |
Surebill (Env & Forms) Bill Print/mail | 12/30/21 | $182,802 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $78,761,328 |
| Investment income | $193,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,850 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,967,679 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,193,564 |
| Compensation of current officers, directors, key employees. | $557,774 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,304,217 |
| Pension plan accruals and contributions | $1,642,784 |
| Other employee benefits | $692,077 |
| Payroll taxes | $380,443 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,673 |
| Fees for services: Accounting | $62,083 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $134,290 |
| Office expenses | $818,507 |
| Information technology | $309,336 |
| Royalties | $0 |
| Occupancy | $388,507 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,980 |
| Interest | $338,977 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,020,386 |
| Insurance | $162,908 |
| All other expenses | $0 |
| Total functional expenses | $78,797,917 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,398,875 |
| Savings and temporary cash investments | $4,731,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,423,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,070,051 |
| Inventories for sale or use | $1,073,888 |
| Prepaid expenses and deferred charges | $322,770 |
| Net Land, buildings, and equipment | $81,036,707 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,770,144 |
| Intangible assets | $0 |
| Other assets | $31,236 |
| Total assets | $113,858,929 |
| Accounts payable and accrued expenses | $5,660,993 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,192,811 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,310,040 |
| Total liabilities | $21,163,844 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $92,695,085 |
| Total liabilities and net assets/fund balances | $113,858,929 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Black River Electric Cooperative Inc has recieved totaling $750,000.
| Awarding Organization | Amount |
|---|---|
Central Electric Power Cooperative Inc Columbia, SC PURPOSE: ECONOMIC DEVELOPMENT | $750,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jackson Electric Membership Corp Jefferson, GA | $1,224,303,203 | $616,720,445 |
Cobb Electric Membership Corporation Marietta, GA | $1,101,529,853 | $448,648,839 |
Sawnee Electric Membership Corp Cumming, GA | $881,772,713 | $421,763,531 |
Berkeley Electric Cooperative Inc Moncks Corner, SC | $676,271,341 | $408,085,738 |
Georgia Transmission Corporation Tucker, GA | $2,954,026,800 | $380,617,270 |
Walton Emc Monroe, GA | $527,402,332 | $323,280,272 |
Greystone Power Corporation An Electric Membership Corporation Douglasville, GA | $623,308,885 | $319,065,747 |
Energyunited Electric Membership Corporation Statesville, NC | $513,896,783 | $280,523,963 |
Flint Electric Membership Corporation Reynolds, GA | $439,600,941 | $250,834,907 |
Snapping Shoals Electric Membership Corp Covington, GA | $296,699,406 | $211,884,091 |
Brunswick Electric Membership Corp Shallotte, NC | $489,243,089 | $201,275,080 |
Coweta Fayette Electric Membership Palmetto, GA | $416,915,682 | $186,432,980 |