PALMETTO ELECTRIC COOPERATIVE INC (EIN 570221355) - Form 990 Financial Analysis & Trantor Score

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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

A BERL DAVIS JR

Phone

8437265551

Tax Period

2023-01-01 to 2023-12-31

PALMETTO ELECTRIC COOPERATIVE INC, founded in 1940, is a major nonprofit that reported $182.9M in total revenue in fiscal year 2023.

Mission

TO DELIVER COMPETITIVELY PRICED, RELIABLE ENERGY AND INNOVATIVE RELATED SERVICES TO ITS MEMBERS AND TO PROVIDE LEADERSHIP AND SUPPORT TO THE COMMUNITIES WE SERVE

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $182,799,433

Investment Income $55,022

Other Revenue $0

TOTAL REVENUE $182,854,455

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,273,093

Fundraising Expenses $0

Other Expenses $173,361,809

TOTAL EXPENSES $182,854,455

Year-over-Year Comparison

	2023	2022	Change
Revenue	$182,854,455	$176,682,472	+0.0%
Expenses	$182,854,455	$176,682,472	+0.0%
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

163

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

$1,013,716

Total Directors

$374,511

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEREMIAH E VAIGNEUR	CHAIRMAN	7.00	Officer Director	$33,295	$0	$33,295
D TERRELL SMITH	VICE CHAIRMA	5.00	Officer Director	$26,990	$0	$26,990
CAROLYN GRANT	SECRETARY-TR	3.50	Officer Director	$24,057	$0	$24,057
DREARL BOSTICK SR	DIRECTOR	4.00	Director	$29,945	$0	$29,945
GREG COOK	DIRECTOR	4.00	Director	$20,100	$0	$20,100
ALICIA HOLLAND	DIRECTOR	5.00	Director	$30,792	$0	$30,792
NICHOLAS T GOHAGAN	DIRECTOR	4.00	Director	$11,550	$0	$11,550
WILLIAM J NIMMER	DIRECTOR	1.00	Director	$39,192	$0	$39,192
JAMES L ROWE	DIRECTOR	7.50	Director	$48,779	$0	$48,779
DAVID L WHITE	DIRECTOR	3.50	Director	$16,776	$0	$16,776
THOMAS STANLEY JR	DIRECTOR	2.00	Director	$16,161	$0	$16,161
DAVID HOWARD	DIRECTOR	3.50	Director	$19,311	$0	$19,311
C ALEX ULMER	DIRECTOR (PA	N/A	Director	$16,069	$0	$16,069
EUNICE F SPILLIARDS	DIRECTOR (PA	N/A	Director	$41,494	$0	$41,494
A BERL DAVIS JR	PRES. & CEO	50.00	Officer	$535,348	$394,026	$929,374
WILSON D SALEEBY	V.P ENGIN/OP	45.00	Highest	$293,798	$110,464	$404,262
TANYA K TRULL	V.P FINANCE	50.00	Highest	$256,957	$169,525	$426,482
GEORGIA VIDO	V.P HUMAN RE	45.00	Highest	$248,122	$135,942	$384,064
RICHARD E HUNTER III	V.P MARKETIN	50.00	Highest	$236,291	$122,093	$358,384
MICHAEL TAYLOR	V.P INFORMAT	45.00	Highest	$221,733	$139,989	$361,722

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	$182,854,455	$182,854,455	$297,800,025	No data
2022	$176,682,472	$176,682,472	$275,456,875	No data
2021	$171,925,087	$171,925,087	$253,570,889	No data
2020	$174,377,633	$174,377,633	$259,269,201	No data
2019	$176,082,191	$176,082,191	$252,827,124	No data
2018	$176,179,734	$176,179,734	$240,170,840	No data

PALMETTO ELECTRIC COOPERATIVE INC