Civic Intelligence

Broad River Electric Cooperative

EIN 57-0128696 • 501(c)12 • Cowpens, SC

Profile

Your cooperative is committed to the provision of safe, reliable and reasonably priced electric and other energy related services while improving the communities we serve.

PO Box 828Cowpens, SC 29330

www.broadriverelectric.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

90th percentile

0.70x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

71st percentile

1.87x

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

501(c)12 • $100M-$250M nonprofits • Source year 2024

Net Margin

11th percentile

-0.1%

Higher net margin than 11% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

77th percentile

7.7%

Faster asset growth than 77% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Revenue Growth

56th percentile

5.1%

Faster revenue growth than 56% of similar nonprofits.

501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Assets

Up

$166,687,542

Up $16,396,069 (+11%) from 2023

Liabilities

Up

$116,320,413

Up $12,889,657 (+12%) from 2023

Net Assets

Up

$50,367,129

Up $3,506,412 (+7.5%) from 2023

Revenue

Up

$62,308,340

Up $6,072,025 (+11%) from 2023

Expenses

Up

$62,397,364

Up $6,098,703 (+11%) from 2023

Net Income

Down

-$89,024

Down $26,678 (-43%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2011: $90,223,976Liabilities 2011: $70,976,615Net Assets 2011: $19,247,3612011Assets 2012: $92,322,335Liabilities 2012: $72,677,094Net Assets 2012: $19,645,2412012Assets 2013: $94,253,995Liabilities 2013: $73,180,074Net Assets 2013: $21,073,9212013Assets 2014: $95,311,387Liabilities 2014: $72,697,944Net Assets 2014: $22,613,4432014Assets 2015: $101,428,986Liabilities 2015: $76,763,616Net Assets 2015: $24,665,3702015Assets 2016: $103,887,257Liabilities 2016: $77,046,701Net Assets 2016: $26,840,5562016Assets 2017: $107,882,731Liabilities 2017: $80,469,879Net Assets 2017: $27,412,8522017Assets 2018: $120,187,401Liabilities 2018: $90,985,407Net Assets 2018: $29,201,9942018Assets 2019: $116,957,976Liabilities 2019: $83,511,421Net Assets 2019: $33,446,5552019Assets 2020: $128,066,587Liabilities 2020: $91,210,159Net Assets 2020: $36,856,4282020Assets 2021: $130,407,724Liabilities 2021: $89,502,615Net Assets 2021: $40,905,1092021Assets 2022: $143,703,578Liabilities 2022: $99,198,417Net Assets 2022: $44,505,1612022Assets 2023: $150,291,473Liabilities 2023: $103,430,756Net Assets 2023: $46,860,7172023Assets 2024: $166,687,542Liabilities 2024: $116,320,413Net Assets 2024: $50,367,1292024

Highlighted filing

2024

Assets$166,687,542
Liabilities$116,320,413
Net Assets$50,367,129

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80M$60M$40M$20M$0-$20MRevenue 2011: $43,009,701Expenses 2011: $43,009,701Net Income 2011: $02011Revenue 2012: $41,953,400Expenses 2012: $41,953,400Net Income 2012: $02012Revenue 2013: $45,290,572Expenses 2013: $45,290,572Net Income 2013: $02013Revenue 2014: $47,301,723Expenses 2014: $47,301,723Net Income 2014: $02014Revenue 2015: $47,868,069Expenses 2015: $47,868,069Net Income 2015: $02015Revenue 2016: $51,128,500Expenses 2016: $51,128,500Net Income 2016: $02016Revenue 2017: $49,171,074Expenses 2017: $49,171,074Net Income 2017: $02017Revenue 2018: $54,849,942Expenses 2018: $54,849,942Net Income 2018: $02018Revenue 2019: $53,801,845Expenses 2019: $53,801,845Net Income 2019: $02019Revenue 2020: $51,857,121Expenses 2020: $51,857,121Net Income 2020: $02020Revenue 2021: $54,952,591Expenses 2021: $54,061,373Net Income 2021: $891,2182021Revenue 2022: $56,431,065Expenses 2022: $56,571,901Net Income 2022: -$140,8362022Revenue 2023: $56,236,315Expenses 2023: $56,298,661Net Income 2023: -$62,3462023Revenue 2024: $62,308,340Expenses 2024: $62,397,364Net Income 2024: -$89,0242024

Highlighted filing

2024

Revenue$62,308,340
Expenses$62,397,364
Net Income-$89,024

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$167$116$50.4$62.3$62.4$0.09
2023Detailed filing. Detailed filing data is available for this year.$150$103$46.9$56.2$56.3$0.06
2022Detailed filing. Detailed filing data is available for this year.$144$99.2$44.5$56.4$56.6$0.14
2021Detailed filing. Detailed filing data is available for this year.$130$89.5$40.9$55.0$54.1$0.89
2020Detailed filing. Detailed filing data is available for this year.$128$91.2$36.9$51.9$51.9$0.00
2019Detailed filing. Detailed filing data is available for this year.$117$83.5$33.4$53.8$53.8$0.00
2018Detailed filing. Detailed filing data is available for this year.$120$91.0$29.2$54.8$54.8$0.00
2017Detailed filing. Detailed filing data is available for this year.$108$80.5$27.4$49.2$49.2$0.00
2016Detailed filing. Detailed filing data is available for this year.$104$77.0$26.8$51.1$51.1$0.00
2015Summary only. Only limited summary data is available for this year.$101$76.8$24.7$47.9$47.9$0.00
2014Summary only. Only limited summary data is available for this year.$95.3$72.7$22.6$47.3$47.3$0.00
2013Summary only. Only limited summary data is available for this year.$94.3$73.2$21.1$45.3$45.3$0.00
2012Summary only. Only limited summary data is available for this year.$92.3$72.7$19.6$42.0$42.0$0.00
2011Summary only. Only limited summary data is available for this year.$90.2$71.0$19.2$43.0$43.0$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 31, 2025
Return Version
2024v5.0
Gross Receipts
$62,308,340
Mission and Program Overview

Mission

Your cooperative is committed to the provision of safe, reliable and reasonably priced electric and other energy related services while improving the communities we serve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$126,742,263$131,072,974▲ $4,330,711
Rtn Earn Endowment Incm Other Fnds$46,754,637$50,258,804▲ $3,504,167
Prepaid Expenses and Deferred Charges$3,394,381$10,539,370▲ $7,144,989
Cash and Non-Interest-Bearing Accounts$6,167,704$8,498,000▲ $2,330,296
Investments Program Related$7,356,972$8,152,434▲ $795,462
Accounts Receivable$5,806,578$6,821,542▲ $1,014,964
Inventories for Sale or Use$813,197$1,592,844▲ $779,647
Cap Stk Tr Prin Current Funds$106,080$108,325▲ $2,245
Total Assets$150,291,473$166,687,542▲ $16,396,069
Other Assets Total$10,378$10,378→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$85,202,173$97,521,847▲ $12,319,674
Other Liabilities$9,182,356$9,418,564▲ $236,208
Accounts Payable and Accrued Expenses$9,046,227$9,380,002▲ $333,775
Total Liabilities$103,430,756$116,320,413▲ $12,889,657
Net Assets / Fund Balance
Total Net Assets Fund Balance$46,860,717$50,367,129▲ $3,506,412
Total Liabilities and Net Assets / Fund Balance$150,291,473$166,687,542▲ $16,396,069

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$116,941,696$35,470,879$152,412,575
Buildings$13,412,008$671,824$14,083,832
Land$719,270-$719,270
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Terry W MallardPresident &FT$597,686$145,245$742,931
Terry W MallardPresident & CEO-$509,263$233,668$742,931
Cary JohnsonCOOFT$168,680$110,469$279,149
John B FowlerVP-member SeFT$159,441$70,200$229,641
John B FowlerVP-member Services-$140,002$89,639$229,641
Andrew AllsbrookCSO-chief StFT$178,061$48,044$226,105
Andrew AllsbrookCSO-chief Stgy. Off.-$160,290$65,815$226,105
Jeffery S HumphriesVP-externalFT$157,479$68,230$225,709
Jeffery S HumphriesVP-external Affairs-$135,010$90,699$225,709
Kenneth GriswoldVP-informatiFT$139,883$64,810$204,693
Kenneth GriswoldVP-information Sys.-$121,138$83,555$204,693
Norris R FowlerChairmanPT$24,477-$24,477
Anita P WhitneyVice ChairmaPT$19,755-$19,755
Bobby FosterTrusteePT$19,755-$19,755
Decole GallmanSec/treasPT$19,755-$19,755
E Dewitt MccrawTrusteePT$19,755-$19,755
Kevin MossTrusteePT$19,755-$19,755
Mark PattersonTrusteePT$19,755-$19,755
William Eric WestTrusteePT$19,755-$19,755
William PeelerTrusteePT$19,755-$19,755

Highest Paid Contractors

ContractorServicesLocationCompensation
Asplundh Tree Expert CoRow Clearing708 BLAIR MILL ROAD, Willow Grove, PA 19044$1,969,963
Utiltity Partners Of AmericaElectric Dist.7600 PELHAM ROAD, Greenville, SC 29615$1,323,214
Storm Services LLCStorm Response3949 HIGHWAY 93 SOUTH, Thomasville, GA 31792$1,257,884
Andis LLCRow Clearing7897 TIPPENHAUER RD, Highland Heights, KY 41076$661,873
Tempest Energy LLCStorm Response800 WINWARD DR, Covington, LA 70433$535,293
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$62,193,144
Investment Income
$116,211
Other Revenue
$-1,015
Change in Net Assets
$-89,024

Audited Revenue Reconciliation

Revenue per Audited Statements
$61,558,340
Revenue Not Reported on Financial Statements
$750,000
Other Revenue Adjustments
$750,000
Total Revenue per Audited Statements
$61,558,340
Total Revenue per Form 990
$62,308,340
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$57,616,907
Salaries, Compensation, and Employee Benefits$925,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$4,622,242
Benefits to Members---$3,855,009
Other Expenses---$2,901,301
Interest---$2,680,382
All Other Expenses---$2,172,598
Current Officers, Directors, Trustees, and Key Employees---$925,448
Total Functional Expenses$0$0$0$62,397,364

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$62,397,364
Expenses per Audited Statements$58,542,355
Total Expenses per Audited Statements$58,542,355
Expenses Not Reported on Financial Statements$3,855,009
Other Expense Adjustments$3,855,009
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefits$4,150,732
Asc 980 Regulatory Liabillity$3,250,000
Consumer Deposits$2,017,832
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 its bylaws which are included as a part of this return.

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 included as a part of this return.

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 included as a part of this return.

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 cooperative regularly and consistently monitors and enforces compliance with their conflict of interest policy as provided for in its policy which is included as a part of this return.

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

Compensation for the ceo is reviewed and approved through the use of a compensation survey and 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 board policy administered by the ceo.

Form 990, Page 6, Part VI, Line 19

The cooperative makes its bylaws, conflict of interest policy, and financial statements available to the public as part of its form 990. The form 990 is available upon request as reflected in part vi section c line 18.

Filing and Contact Details

Filer

Filer Name
Broad River Electric Cooperative
EIN
57-0128696
Phone
8644895737
Address
PO BOX 828, COWPENS, SC 29330

Signing Officer

Name
Terry W Mallard
Title
President & CEO
Phone
8642067136
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry W Mallard
Formed
1940
Legal Domicile
Sc
Voting Board Members
9
Independent Board Members
9
Employees
61

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

Membership fees 2,245 patronage capital allocations 3,855,009 other comprehensive income 509,246 donated capital -21,064 asc 980 - deferred revenue -750,000 total 3,595,436

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Deferred revenue transactions 750,000

Schedule D, Page 4, Part XII, Line 4B

Patronage capital credits 3,855,009

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IRS990ScheduleD/LandGrp/BookValueAmt0719270
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0719270
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0POST RETIREMENT BENEFITS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER DEPOSITS
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0750000
IRS990ScheduleD/RevenueSubtotalAmt061558340
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DEFERRED REVENUE TRANSACTIONS 750,000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PATRONAGE CAPITAL CREDITS 3,855,009
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt062397364
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt445805
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt542385
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TERRY W MALLARD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CARY JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2JOHN B FOWLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3ANDREW ALLSBROOK

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