BERKELEY ELECTRIC COOPERATIVE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1940

Legal Domicile

Principal Officer

MICHAEL FULLER

Phone

8437618200

Tax Period

2025-01-01 to 2025-12-31

BERKELEY ELECTRIC COOPERATIVE INC, founded in 1940, is a major nonprofit that reported $594.9M in total revenue in fiscal year 2025. Revenue surged 22% from the prior year, signaling strong growth momentum.

Mission

BERKELEY ELECTRIC COOPERATIVE IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE ENERGY, WHILE ENHANCING THE LIVES OF THOSE WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $594,885,803

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SOUTH CAROLINA COUNTIES OF BERKELEY, CHARLESTON AND DORCHESTER COUNTIES AT A REASONABLE COST, CONSISTENT WITH THE HIGHEST...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $590,160,490

Investment Income $4,231,097

Other Revenue $494,216

TOTAL REVENUE $594,885,803

Expense Breakdown

Grants Paid $0

Salaries & Benefits $877,115

Fundraising Expenses $0

Program Expenses $594,885,803

Other Expenses $553,796,682

TOTAL EXPENSES $594,885,803

Year-over-Year Comparison

	2025	2024	Change
Revenue	$594,885,803	$488,190,361	+0.2%
Expenses	$594,885,803	$488,190,361	+0.2%
Net Income	$0	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

342

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$746,315

Total Directors

$217,395

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
H WAYNE DEWITT	CHAIRMAN	12.00	Officer Director	$31,636	$0	$32,036
WILLIS SANDERS	VICE CHAIRMA	10.00	Officer Director	$27,225	$0	$27,625
CONNIE P SHULER	SECRETARY/TR	10.00	Officer Director	$23,034	$0	$23,434
ROBERT VANDROSS	DIRECTOR	10.00	Director	$25,300	$0	$25,700
SAM GOURDINE	DIRECTOR	10.00	Director	$31,625	$0	$32,025
HENRY CHAVIS SR	DIRECTOR	10.00	Director	$21,725	$0	$22,125
CLAY HELMS	DIRECTOR	10.00	Director	$1,100	$0	$1,200
ROBERT JENKINS	DIRECTOR	10.00	Director	$16,775	$0	$17,175
DEBBIE CHATMAN BRYANT	DIRECTOR	10.00	Director	$1,100	$0	$1,200
SHEILA POWELL	DIRECTOR: JA	10.00	Director	$20,350	$0	$20,550
DENVER LEE CLAYTON	DIRECTOR: JA	10.00	Director	$14,025	$0	$14,325
MICHAEL FULLER	CEO	50.00	Officer	$567,840	$95,380	$663,220
LOUISE MEADE	VP - HUMAN R	50.00	Highest	$274,746	$135,658	$410,404
JOEL STEVENS	VP - FINANCE	50.00	Highest	$277,855	$81,897	$359,752
TONY VINCENT	VP - PUBLIC	50.00	Highest	$225,948	$70,473	$296,421
AMY LANGDON	VP - INFO TE	50.00	Highest	$224,398	$108,065	$332,463
THOMAS HARVEY	VP - OPERATI	50.00	Highest	$221,369	$116,158	$337,527

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$594,885,803	$594,885,803	$791,195,308	No data
2024	No data	No data	No data	No data
2023	$437,149,733	$437,149,733	$706,474,043	No data
2022	$408,085,738	$403,272,407	$676,271,341	$4,813,331
2021	$366,017,101	$366,017,101	$620,212,746	No data
2020	$344,018,397	$344,018,397	$555,545,257	No data
2019	$327,227,393	$327,227,393	$537,447,738	No data
2018	$324,970,807	$324,970,807	$461,428,469	No data