Palmetto Rural Telephone Cooperative Inc
- Assets
- $95.5m
- Revenue
- $23.8m
- Investments
- $0.0
- Employees
- 70
- Location
- Walterboro, SC
- Founding
- 03/1962
- Data as of
- 12/2015
- EIN
- 57-0339353
Organization Overview
Palmetto Rural Telephone Cooperative Inc is located in Walterboro, SC. The organization was established in 1962. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2015, Palmetto Rural Telephone Cooperative Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Palmetto Rural Telephone 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE BEST POSSIBLE COMMUNICATIONS RELATED SERVICES TO ALL WHO DESIRE IT WITHIN THE SERVICE AREA AT THE LOWEST COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE BEST POSSIBLE COMMUNICATIONS RELATED SERVICES TO ALL WHO DESIRE IT WITHIN THE SERVICE AREA AT THE LOWEST COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason J Dandridge CEO | Officer | 40 | $289,452 |
Dewaine Wilson CFO | Officer | 40 | $262,530 |
Antony Stout Employee | 40 | $198,208 | |
Robert Carlock Employee | 40 | $153,523 | |
Charles Crabtree Employee | 40 | $120,707 | |
George Williams Employee | 40 | $118,224 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southern Installations Construction | 12/30/15 | $2,006,629 |
Ntca - Group Health Insurance | 12/30/15 | $1,458,748 |
Palmetto Engineering And Consulting Consulting | 12/30/15 | $1,706,737 |
Star Construction Construction | 12/30/15 | $1,415,906 |
Jim Young Construction Construction | 12/30/15 | $2,929,199 |
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 | $23,776,092 |
| Investment income | $10,001 |
| 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 | $23,786,093 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $583,894 |
| 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 | $103,200 |
| Fees for services: Legal | $84,544 |
| Fees for services: Accounting | $708,739 |
| 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 | $1,214,764 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,513,888 |
| Insurance | $0 |
| All other expenses | $2,973,727 |
| Total functional expenses | $23,786,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,899,189 |
| Savings and temporary cash investments | $1,463,116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,005,832 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $993,200 |
| Inventories for sale or use | $556,171 |
| Prepaid expenses and deferred charges | $1,676,840 |
| Net Land, buildings, and equipment | $37,793,590 |
| Investments—publicly traded securities | $33,043,681 |
| Investments—other securities | $0 |
| Investments—program-related | $6,348,871 |
| Intangible assets | $0 |
| Other assets | $8,764,344 |
| Total assets | $95,544,834 |
| Accounts payable and accrued expenses | $2,577,578 |
| Grants payable | $0 |
| Deferred revenue | $151,457 |
| 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 | $40,337,495 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $70,826 |
| Total liabilities | $43,137,356 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $59,870 |
| Paid-in or capital surplus, or land, building, or equipment fund | $255,343 |
| Total net assets or fund balances | $52,407,478 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
West Carolina Rural Telephone Cooperative Inc Abbeville, SC | $138,539,620 | $33,803,232 |
Sandhill Rural Telephone Cooperative Inc Jefferson, SC | $67,342,746 | $27,096,055 |
Palmetto Rural Telephone Cooperative Inc Walterboro, SC | $95,544,834 | $23,786,093 |
Pineland Telephone Cooperative Inc Metter, GA | $116,547,882 | $20,356,122 |
Bulloch County Rural Telephone Cooperative Inc Statesboro, GA | $84,501,417 | $18,614,322 |
Progressive Rural Telephone Coop Inc Rentz, GA | $32,679,520 | $9,580,532 |
Georgia Communications Corporation Inc Cornelia, GA | $4,400,237 | $4,279,457 |