Civic Intelligence

Blue Ridge Electric Cooperative

990 • Fiscal year 2018 • EIN 57-0125510

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 07, 2019

PO Box 277Pickens, SC 29671

(864) 878-6326

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

94th percentile

0.78x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

71st percentile

1.64x

Higher debt load relative to revenue than 71% of similar nonprofits.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2018

Net Margin

62nd percentile

0.5%

Higher net margin than 62% of similar nonprofits.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

32nd percentile

$440,390

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2018

Asset Growth

86th percentile

8.1%

Faster asset growth than 86% of similar nonprofits.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

31st percentile

4.2%

Faster revenue growth than 31% of similar nonprofits.

2018 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Up

$331,427,437

Up $24,907,822 (+8.1%) from 2017

Net Assets

Up

$72,592,133

Up $5,582,613 (+8.3%) from 2017

Liabilities

Up

$258,835,304

Up $19,325,209 (+8.1%) from 2017

Revenue

Up

$157,621,122

Up $6,297,787 (+4.2%) from 2017

Expenses

Up

$156,759,281

Up $16,796,250 (+12%) from 2017

Net Income

Down

$861,841

Down $10,498,463 (-92%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $244,153,756Liabilities 2010: $198,851,482Net Assets 2010: $45,302,2742010Assets 2011: $260,654,941Liabilities 2011: $214,730,480Net Assets 2011: $45,924,4612011Assets 2012: $260,833,053Liabilities 2012: $218,626,247Net Assets 2012: $42,206,8062012Assets 2013: $270,573,592Liabilities 2013: $224,277,551Net Assets 2013: $46,296,0412013Assets 2014: $274,170,842Liabilities 2014: $225,711,205Net Assets 2014: $48,459,6372014Assets 2015: $269,570,645Liabilities 2015: $222,464,463Net Assets 2015: $47,106,1822015Assets 2016: $287,303,518Liabilities 2016: $237,692,297Net Assets 2016: $49,611,2212016Assets 2017: $306,519,615Liabilities 2017: $239,510,095Net Assets 2017: $67,009,5202017Assets 2018: $331,427,437Liabilities 2018: $258,835,304Net Assets 2018: $72,592,1332018Assets 2019: $348,122,540Liabilities 2019: $271,283,940Net Assets 2019: $76,838,6002019Assets 2020: $367,130,472Liabilities 2020: $288,405,878Net Assets 2020: $78,724,5942020Assets 2021: $400,749,868Liabilities 2021: $320,158,373Net Assets 2021: $80,591,4952021Assets 2022: $468,943,378Liabilities 2022: $382,186,316Net Assets 2022: $86,757,0622022Assets 2023: $521,171,594Liabilities 2023: $445,319,342Net Assets 2023: $75,852,2522023Assets 2024: $580,061,882Liabilities 2024: $491,191,575Net Assets 2024: $88,870,3072024

Highlighted filing

2018

Assets$331,427,437
Liabilities$258,835,304
Net Assets$72,592,133

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MRevenue 2010: $129,303,070Expenses 2010: $130,479,297Net Income 2010: -$1,176,2272010Revenue 2011: $131,596,907Expenses 2011: $131,596,907Net Income 2011: $02011Revenue 2012: $127,251,459Expenses 2012: $129,914,595Net Income 2012: -$2,663,1362012Revenue 2013: $135,704,925Expenses 2013: $134,851,462Net Income 2013: $853,4632013Revenue 2014: $141,998,931Expenses 2014: $142,792,007Net Income 2014: -$793,0762014Revenue 2015: $145,580,010Expenses 2015: $146,204,810Net Income 2015: -$624,8002015Revenue 2016: $146,091,279Expenses 2016: $146,263,842Net Income 2016: -$172,5632016Revenue 2017: $151,323,335Expenses 2017: $139,963,031Net Income 2017: $11,360,3042017Revenue 2018: $157,621,122Expenses 2018: $156,759,281Net Income 2018: $861,8412018Revenue 2019: $155,704,978Expenses 2019: $151,167,596Net Income 2019: $4,537,3822019Revenue 2020: $154,190,330Expenses 2020: $153,647,075Net Income 2020: $543,2552020Revenue 2021: $161,177,852Expenses 2021: $161,807,311Net Income 2021: -$629,4592021Revenue 2022: $180,062,478Expenses 2022: $180,062,478Net Income 2022: $02022Revenue 2023: $178,719,621Expenses 2023: $190,220,058Net Income 2023: -$11,500,4372023Revenue 2024: $208,026,506Expenses 2024: $208,026,506Net Income 2024: $02024

Highlighted filing

2018

Revenue$157,621,122
Expenses$156,759,281
Net Income$861,841
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 7, 2019
Return Version
2018v3.1
Gross Receipts
$157,621,122
Mission and Program Overview

Mission

To provide the best possible electric service to all who desire it within the system area at a reasonable cost consistent with the highest standards of service.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$271,737,243$288,388,065▲ $16,650,822
Rtn Earn Endowment Incm Other Fnds$66,695,295$72,274,295▲ $5,579,000
Accounts Receivable$13,553,870$18,311,106▲ $4,757,236
Investments Program Related$14,349,229$16,451,653▲ $2,102,424
Cash and Non-Interest-Bearing Accounts$4,106,929$4,532,468▲ $425,539
Inventories for Sale or Use$1,477,705$1,811,859▲ $334,154
Other Notes and Loans Receivable, Net$1,130,370$1,224,401▲ $94,031
Prepaid Expenses and Deferred Charges$167,007$688,591▲ $521,584
Cap Stk Tr Prin Current Funds$314,225$317,838▲ $3,613
Total Assets$306,519,615$331,427,437▲ $24,907,822
Other Assets Total$-2,738$19,294▲ $22,032
Liabilities
Mortgage Notes Payable Secured by Investment Property$195,726,059$189,752,451▼ $5,973,608
Accounts Payable and Accrued Expenses$22,565,529$45,994,910▲ $23,429,381
Other Liabilities$21,218,507$23,087,943▲ $1,869,436
Total Liabilities$239,510,095$258,835,304▲ $19,325,209
Net Assets / Fund Balance
Total Net Assets Fund Balance$67,009,520$72,592,133▲ $5,582,613
Total Liabilities and Net Assets / Fund Balance$306,519,615$331,427,437▲ $24,907,822

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$285,429,962$121,217,683$406,647,645
Land$2,958,103-$2,958,103
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James LovinggoodPresident &FT$326,692$113,698$440,390
James LovinggoodPresident & CEO-$287,306$153,084$440,390
David CollinsVP FinanceFT$217,682$124,638$342,320
Charles E DaltonPresident &FT$314,436$21,329$335,765
Charles E DaltonPresident & CEO-$51,806$283,959$335,765
Samuel McmillanVP OperationFT$236,520$85,644$322,164
Samuel McmillanVP Operations-$210,027$112,137$322,164
Denise MccormickVP Member SeFT$221,475$83,175$304,650
Denise MccormickVP Member Services-$196,143$108,507$304,650
Chad DaltonMgr SupportFT$189,106$87,540$276,646
Chad DaltonMgr Support Services-$184,779$91,867$276,646
Terry BallengerVP CommunicaFT$190,385$78,742$269,127
Terry BallengerVP Communications-$177,803$91,324$269,127
J Spencer DaltonVice ChairmaPT$55,994-$55,994
Len TalleySecretaryPT$54,838-$54,838
Jimmy Lee DodgensDirectorPT$54,786-$54,786
Joel R DavisChairmanPT$51,756-$51,756
William G ElrodDirectorPT$49,894-$49,894
Kenneth SoutherlinDirectorPT$48,945-$48,945
Mendel StoneDirectorPT$46,386-$46,386
Franklin M Looper JrTreasurerPT$42,296-$42,296
Gary AlexanderFormer Direc-$26,891-$26,891
Gary AlexanderFormer Director--$26,891$26,891
Ben G BoltDirectorPT$24,659-$24,659

Highest Paid Contractors

ContractorServicesLocationCompensation
Sumter Utilities-1151 N PIKE W, Sumter, SC 29153$3,264,840
Pike Enterprises-1700 WATER PL SE, Atlanta, GA 30339$2,665,548
Trehel Corporation-935 S MAIN ST, Greenville, SC 29601$2,377,295
Sluder Urban Forestry-108 E MAIN STREET, Westminster, SC 29693$2,161,345
Caldwell Landscaping-MURRAY DR, Mauldin, SC 29662$988,151
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$157,449,727
Investment Income
$171,395
Other Revenue
$0
Change in Net Assets
$861,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$149,196,240
Salaries, Compensation, and Employee Benefits$1,232,600
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$11,485,122
All Other Expenses---$8,555,491
Interest---$7,175,795
Other Expenses---$6,644,812
Benefits to Members---$6,330,441
Current Officers, Directors, Trustees, and Key Employees---$1,205,709
Comp Disqual Persons---$26,891
Total Functional Expenses$0$0$0$156,759,281
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Total Exempt Function Spending$1,500

Section 527 Organizations

OrganizationLocationAmount
81-3788778Columbia, SC$1,000
81-3788778Columbia, SC$500
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accum Prov for Pension & Benefits$21,170,367
Consumer Deposits$1,910,332
Deferred Credits$7,244
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The cooperative has members as provided for in its bylaws which are avaliable on the cooperative's website.

Form 990, Page 6, Part VI, Line 7A

The cooperative has members who elect members of the governing body as provided for in its bylaws which are avaliable on the cooperative's website.

Form 990, Page 6, Part VI, Line 7B

Certain decisions of the governing body are subject to approval by members as provided for in its bylaws which are avaliable on the cooperative's website.

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the board with all supporting documentation made available to them.

Form 990, Page 6, Part VI, Line 12C

The corporation regularly and consistently monitors and enforces compliance with its bylaws and policies including bylaw provisions and policies related to conflicts of interest as provided for in its bylaws which are avaliable on the cooperative's website.

Form 990, Page 6, Part VI, Line 15A

Compensation for the ceo is reviewed and approved through the use of a performance review conducted by the member-elected board.

Form 990, Page 6, Part VI, Line 15B

Compensation for key employees is reviewed and approved through the use of a performance review conducted by the ceo.

Form 990, Page 6, Part VI, Line 19

The cooperative makes its financial statements available to the public as part of its form 990 and its bylaws are avaliable on the cooperative's website. The form 990 is available upon request as reflected in part vi section c line 18.

Filing and Contact Details

Filer

Filer Name
Blue Ridge Electric Cooperative
EIN
57-0125510
Phone
8648786326
Address
PO BOX 277, PICKENS, SC 29671

Signing Officer

Name
James Lovinggood
Title
President & CEO
Phone
8648786326
Signed
2019-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Lovinggood
Formed
1940
Legal Domicile
Sc
Voting Board Members
9
Independent Board Members
9
Employees
196

Preparer

Firm
Mcnair Mclemore Middlebrooks & Co LLC
Address
POST OFFICE BOX ONE, MACON, GA 31202-0001
Preparer
Jason a Peacock
Phone
4787466277
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Memberships 3,613 patronage capital assigned 6,330,441 patronage capital retirements -1,000,069 other equity -613,213 total 4,720,772

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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT &
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IRS990/Form990PartVIISectionAGrp/TitleTxt11VP FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP OPERATION
IRS990/Form990PartVIISectionAGrp/TitleTxt13VP MEMBER SE
IRS990/Form990PartVIISectionAGrp/TitleTxt14VP COMMUNICA
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$580$491$88.9$208$208$0.00
2023Detailed filing. Detailed filing data is available for this year.$521$445$75.9$179$190$11.5
2022Detailed filing. Detailed filing data is available for this year.$469$382$86.8$180$180$0.00
2021Detailed filing. Detailed filing data is available for this year.$401$320$80.6$161$162$0.63
2020Detailed filing. Detailed filing data is available for this year.$367$288$78.7$154$154$0.54
2019Detailed filing. Detailed filing data is available for this year.$348$271$76.8$156$151$4.54
2018Detailed filing. Detailed filing data is available for this year.$331$259$72.6$158$157$0.86
2017Detailed filing. Detailed filing data is available for this year.$307$240$67.0$151$140$11.4
2016Detailed filing. Detailed filing data is available for this year.$287$238$49.6$146$146$0.17
2015Detailed filing. Detailed filing data is available for this year.$270$222$47.1$146$146$0.62
2014Summary only. Only limited summary data is available for this year.$274$226$48.5$142$143$0.79
2013Summary only. Only limited summary data is available for this year.$271$224$46.3$136$135$0.85
2012Summary only. Only limited summary data is available for this year.$261$219$42.2$127$130$2.66
2011Summary only. Only limited summary data is available for this year.$261$215$45.9$132$132$0.00
2010Summary only. Only limited summary data is available for this year.$244$199$45.3$129$130$1.18