COASTAL ELECTRIC COOPERATIVE INC

EIN: 570143233

WALTERBORO, SC

Total Revenue
$28,592,457
Total Expenses
$26,105,856
Total Assets
$65,171,247
Net Assets
$15,925,023
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1940
Legal Domicile
SC
Principal Officer
MARK L WALLING
Phone
8435385700
Tax Period
2023-01-01 to 2023-12-31

COASTAL ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $28.6M in total revenue in fiscal year 2023. Expenses of $26.1M left a modest 9% surplus.

Mission

TO PROVIDE DIVERSIFIED, INNOVATIVE ENERGY AND RELATED SERVICES TO ITS CUSTOMERS CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ALWAYS ACTING IN A COMMUNITY-BUILDING LEADERSHIP ROLE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $28,365,779
Investment Income $215,410
Other Revenue $11,268
TOTAL REVENUE $28,592,457

Expense Breakdown

Grants Paid $0
Salaries & Benefits $598,589
Fundraising Expenses $0
Other Expenses $24,228,138
TOTAL EXPENSES $26,105,856

Year-over-Year Comparison

2023 2022 Change
Revenue $28,592,457 $28,929,598 0.0%
Expenses $26,105,856 $31,498,691 -0.2%
Net Income $2,486,601 $-2,569,093 -2.0%
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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Governance

Voting Members
9
Independent Members
9
Employees
41
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
5
$469,571
Total Directors
9
$103,932
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES M BUNTON JR CHAIRMAN 9.92
Officer Director
$553 $0 $553
IAN PADGETT VICE CHAIRMA 8.96
Officer Director
$553 $0 $553
TERRY HOFF SECRETARY 9.58
Officer Director
$11,803 $0 $11,803
JOHHNY FRANK TREASURER 11.71
Officer Director
$553 $0 $553
JAMES H COPELAND III TRUSTEE 13.42
Director
$20,451 $0 $20,451
WENDELL MCDONALD TRUSTEE 10.13
Director
$15,307 $0 $15,307
LAVERN POLK TRUSTEE 14.56
Director
$25,016 $0 $25,016
JAMES C BRYAN TRUSTEE 10.19
Director
$13,957 $0 $13,957
WILLIAM M SMOAK TRUSTEE 10.75
Director
$15,739 $0 $15,739
LEON H BRYAN FORMER - TRU N/A
$38,548 $0 $38,548
MARK L WALLING PRESIDENT & 50.00
Officer
$287,215 $168,894 $456,109
JANICE F AVANT VP - FINANCE 50.00
Highest
$182,822 $133,266 $316,088
MATTHEW BRYAN VP-ENG. & OP 50.00
Highest
$177,619 $120,301 $297,920
RICHARD MASSEY LEAD LINEMAN 50.00
Highest
$142,316 $68,334 $210,650
RHONDA MARTIN OFFICE MANAG 50.00
Highest
$108,256 $71,907 $180,163
COBY MARTIN LINEMAN 50.00
Highest
$108,829 $55,294 $164,123
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
2024 No data No data No data No data
2023 $28,592,457 $26,105,856 $65,171,247 $2,486,601
2022 $28,929,598 $31,498,691 $59,652,643 $-2,569,093
2021 $26,948,200 $26,948,200 $57,987,119 No data
2020 $28,049,697 $28,049,697 $58,165,228 No data
2019 $27,950,998 $27,950,998 $56,869,443 No data
2018 $28,229,027 $28,229,027 $56,190,841 No data
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