York Electric Cooperative Inc
- Assets
- $252.1m
- Revenue
- $136.7m
- Investments
- $0.0
- Employees
- 130
- Location
- York, SC
- Founding
- 09/1975
- Data as of
- 12/2022
- EIN
- 57-0274084
Organization Overview
York Electric Cooperative Inc is located in York, SC. The organization was established in 1975. 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 12/2022, York Electric Cooperative Inc employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. York 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 12/2022, York Electric Cooperative Inc generated $136.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $136.7m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE UNSURPASSED INNOVATIVE AND DIVERSIFIED SERVICE AT A REASONABLE COST WHILE IMPROVING THE QUALITY OF LIFE AND PROMOTING INTEGRITY, ECONOMIC DEVELOPMENT, SAFETY AND A VISION OF THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
E Paul Basha President & | Officer | 50 | $377,240 |
J Craig Spencer VP Of Engine | 40 | $195,661 | |
R Marcus Howie VP Of Commun | 40 | $174,537 | |
Tracy Mcbride VP Of Financ | 40 | $173,961 | |
James Salmon VP Of Info. | 40 | $142,138 | |
M Dennis Lynn VP Of Energy | 40 | $144,511 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fiber Optic Solutions Fiber | 12/30/22 | $3,137,243 |
Asplundh Tree Expert Co Right Of Way | 12/30/22 | $2,329,993 |
Turner Communications Communications | 12/30/22 | $135,200 |
Williams Electric Company Contractor | 12/30/22 | $392,891 |
Pike Enterprises Llc Contractors | 12/30/22 | $1,740,908 |
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 | $137,222,068 |
| Investment income | -$569,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $136,652,507 |
| 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 | $5,642,123 |
| Compensation of current officers, directors, key employees. | $641,755 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,814,322 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,913,799 |
| Insurance | $0 |
| All other expenses | $5,125,635 |
| Total functional expenses | $136,652,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,435,638 |
| Savings and temporary cash investments | $19,217,685 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,293,711 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,478,458 |
| Prepaid expenses and deferred charges | $2,131,365 |
| Net Land, buildings, and equipment | $196,825,934 |
| Investments—publicly traded securities | $962,598 |
| Investments—other securities | $0 |
| Investments—program-related | $13,723,831 |
| Intangible assets | $0 |
| Other assets | $8,579 |
| Total assets | $252,077,799 |
| Accounts payable and accrued expenses | $19,516,826 |
| 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 | $102,556,195 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,923,664 |
| Total liabilities | $141,996,685 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $296,020 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $109,785,094 |
| Total liabilities and net assets/fund balances | $252,077,799 |