Mid-Carolina Electric Trust
- Assets
- $47.3k
- Revenue
- $301.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, SC
- Founding
- 07/1994
- Data as of
- 12/2021
- EIN
- 57-1000504
Organization Overview
Mid-Carolina Electric Trust is located in Lexington, SC. The organization was established in 1994. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid-Carolina Electric Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Mid-Carolina Electric Trust generated $301.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $289.2k during the year ending 12/2021. While expenses have increased by 0.7% 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.
Since 2018, Mid-Carolina Electric Trust has awarded 21 individual grants totaling $723,481. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE TRUST SHALL BE THE ACCUMULATION AND DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF MID-CAROLIAN ELECTRIC COOPERATIVE, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE TRUST IS TO ACCUMULATE AND DISBURSE FUNDS FOR CHARITABLE PURPOSES IN THE SERVICE AREA OF MID-CAROLINA ECI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stan Shealy Chairman | OfficerTrustee | 2 | $0 |
Rev Rus Stilwell Vice Chairma | OfficerTrustee | 2 | $0 |
Charlotte Boozer Secretary/tr | OfficerTrustee | 2 | $0 |
Gerry Spragg Director | Trustee | 2 | $0 |
Frank Capobianco Director | Trustee | 1 | $0 |
Virginia Bishop Director | Trustee | 1 | $0 |
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 | $301,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,908 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $301,908 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $188,698 |
| Grants and other assistance to domestic individuals. | $100,456 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $289,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,739 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,556 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $47,295 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $47,295 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $47,295 |
Grants Awarded
Over the last fiscal year, Mid-Carolina Electric Trust has awarded $188,698 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
OTHER COMMUNITY ASSISTANCE | | | $159,298 |
DISTRICT 5 FOUNDATION PURPOSE: SCHOOLS IN DISTRICT | $16,100 |
Warren, NJ PURPOSE: SCHOOLS IN DISTRICT | $7,000 |
Lexington, SC PURPOSE: SCHOOLS IN DISTRICT | $6,300 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mid-Carolina Electric Trust has recieved totaling $580.
| Awarding Organization | Amount |
|---|---|
Sunshine Foundation Inc Barnwell, SC PURPOSE: ECONOMIC | $580 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Company Charitable Foundation Inc Atlanta, GA | $133,098,319 | $27,836,912 |
Burroughs Wellcome Fund Research Triangle Park, NC | $946,804,754 | $86,337,046 |
Blue Cross And Blue Shield Of North Carolina Foundation Durham, NC | $253,862,813 | $27,558,288 |
Masters Tournament Foundation Inc Augusta, GA | $56,432,291 | $20,283,494 |
Ingersoll-Rand Charitable Foundation Davidson, NC | $949,422 | $5,202,263 |
Speedwell Foundation Atlanta, GA | $165,926,993 | $26,115,784 |
Teleios Collaborative Network Flat Rock, NC | $1,937,761 | $5,692,077 |
Berry Charitable Foundation Greensboro, NC | $66,443,887 | $19,441,279 |
Richmond Community Foundation Inc Charlotte, NC | $38,277,506 | $4,248,751 |
Thalia N And Chris M Carlos Foundation Inc Atlanta, GA | $8,590,339 | $1,064,458 |
Weaver Foundation Inc Greensboro, NC | $30,406,218 | $3,650,390 |
Ally Charitable Foundation Charlotte, NC | $31,020,480 | $35,342,279 |