Palmetto Electric Cooperative Inc
EIN: 570221355 · Ridgeland, SC
| Metric | Value |
|---|---|
| Total Revenue | $194.8M |
| Total Expenses | $182.9M |
| Net Assets | $102.0M |
Search Intent Cockpit
Palmetto Electric Cooperative Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Palmetto Electric Cooperative Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Palmetto Electric Cooperative Inc in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $182.9M and expenses of $182.9M.
Revenue and Expenses
Palmetto Electric Cooperative Inc reported $182.9M in revenue and $182.9M in expenses, a surplus of $0.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
Mission score and red-flag review are shown when AI enrichment is available.
Is Palmetto Electric Cooperative Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
Functional expense detail is not available on the stored filing yet. Existing program percentage and future extracted expense fields will populate this panel.
Across stored filings, Palmetto Electric Cooperative Inc shows contribution history pending. Next enrichment targets: revenue-source fields, functional expense detail, IRS BMF classification, AI synthesis.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Insufficient Data | Good filing record; no red flags identified |
| Mission spend | Pending | Unknown |
| Financial durability | Grade B | 13 stored filing years |
| Peer context | Compare with Sigma Delta Pi | South Carolina and category context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
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Ridgeland, SC nonprofitsFollow the Money
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About Palmetto Electric Cooperative Inc
Palmetto Electric Cooperative Inc (EIN: 570221355) is a nonprofit organization based in Ridgeland, SC. The organization reported total revenue of $194.8M and total assets of $321.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palmetto Electric Cooperative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palmetto Electric Cooperative Inc is a major nonprofit that has been operating for 82 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $182.9M |
| Total Expenses | $182.9M |
| Surplus / Deficit | +$0 |
| Total Assets | $297.8M |
| Total Liabilities | $195.8M |
| Net Assets | $102.0M |
| Operating Margin | 0.0% |
| Debt-to-Asset Ratio | 65.8% |
| Months of Reserves | 19.5 months |
Financial Health Grade: B
In 2023, Palmetto Electric Cooperative Inc reported a surplus of $0 with revenue exceeding expenses, holds 19.5 months of operating reserves (strong position), has a debt-to-asset ratio of 65.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Palmetto Electric Cooperative Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.5% | +3.5% | +8.1% |
| 2022 | +2.8% | +2.8% | +8.6% |
| 2021 | -1.4% | -1.4% | -2.2% |
| 2020 | -1.0% | -1.0% | +2.5% |
| 2019 | -0.1% | -0.1% | +5.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 4000 |
| IRS Ruling Date | 1944 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Palmetto Electric Cooperative Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Palmetto Electric Cooperative Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $0, with revenue exceeding expenses.
- Debt-to-asset ratio: 65.8%.
Frequently Asked Questions about Palmetto Electric Cooperative Inc
Is Palmetto Electric Cooperative Inc a legitimate charity?
Palmetto Electric Cooperative Inc (EIN: 570221355) is a registered tax-exempt nonprofit based in South Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $194.8M. No red flags identified. Financial health grade: B.
How does Palmetto Electric Cooperative Inc spend its money?
Palmetto Electric Cooperative Inc reported $194.8M in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Palmetto Electric Cooperative Inc tax-deductible?
Palmetto Electric Cooperative Inc is registered as a tax-exempt nonprofit (EIN: 570221355). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Palmetto Electric Cooperative Inc located?
Palmetto Electric Cooperative Inc is headquartered in Ridgeland, South Carolina and files with the IRS under EIN 570221355.
How many years of IRS 990 filings does Palmetto Electric Cooperative Inc have?
Palmetto Electric Cooperative Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $194.8M in total revenue.
Filing History
IRS 990 filing history for Palmetto Electric Cooperative Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Palmetto Electric Cooperative Inc's revenue has grown by 12.8%, moving from $162.0M to $182.9M. Total assets increased by 28.2% over the same period, from $232.3M to $297.8M. Total functional expenses rose by 12.8%, from $162.0M to $182.9M. In its most recent filing year (2023), Palmetto Electric Cooperative Inc reported a surplus of $0, with revenue exceeding expenses. The organization holds $195.8M in liabilities against $297.8M in assets (debt-to-asset ratio: 65.8%), resulting in net assets of $102.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $182.9M | $182.9M | $297.8M | $195.8M | — | — |
| 2022 | $176.7M | $176.7M | $275.5M | $176.4M | — | — |
| 2021 | $171.9M | $171.9M | $253.6M | $154.5M | — | View 990 |
| 2020 | $174.4M | $174.4M | $259.3M | $163.8M | — | — |
| 2019 | $176.1M | $176.1M | $252.8M | $163.4M | — | View 990 |
| 2018 | $176.2M | $176.2M | $240.2M | $154.9M | — | View 990 |
| 2017 | $171.1M | $171.1M | $242.7M | $165.3M | — | View 990 |
| 2016 | $167.0M | $167.0M | $244.3M | $168.3M | — | View 990 |
| 2015 | $170.9M | $170.9M | $242.5M | $165.0M | — | View 990 |
| 2014 | $176.8M | $176.8M | $243.0M | $163.2M | — | View 990 |
| 2013 | $163.7M | $163.7M | $252.2M | $170.9M | — | View 990 |
| 2012 | $154.4M | $154.4M | $241.0M | $162.7M | — | View 990 |
| 2011 | $162.0M | $162.0M | $232.3M | $157.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $182.9M, expenses of $182.9M, and assets of $297.8M (revenue +3.5% year-over-year).
- 2022: Revenue of $176.7M, expenses of $176.7M, and assets of $275.5M (revenue +2.8% year-over-year).
- 2021: Revenue of $171.9M, expenses of $171.9M, and assets of $253.6M (revenue -1.4% year-over-year).
- 2020: Revenue of $174.4M, expenses of $174.4M, and assets of $259.3M (revenue -1.0% year-over-year).
- 2019: Revenue of $176.1M, expenses of $176.1M, and assets of $252.8M (revenue -0.1% year-over-year).
- 2018: Revenue of $176.2M, expenses of $176.2M, and assets of $240.2M (revenue +3.0% year-over-year).
- 2017: Revenue of $171.1M, expenses of $171.1M, and assets of $242.7M (revenue +2.5% year-over-year).
- 2016: Revenue of $167.0M, expenses of $167.0M, and assets of $244.3M (revenue -2.3% year-over-year).
- 2015: Revenue of $170.9M, expenses of $170.9M, and assets of $242.5M (revenue -3.4% year-over-year).
- 2014: Revenue of $176.8M, expenses of $176.8M, and assets of $243.0M (revenue +8.0% year-over-year).
- 2013: Revenue of $163.7M, expenses of $163.7M, and assets of $252.2M (revenue +6.1% year-over-year).
- 2012: Revenue of $154.4M, expenses of $154.4M, and assets of $241.0M (revenue -4.7% year-over-year).
- 2011: Revenue of $162.0M, expenses of $162.0M, and assets of $232.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palmetto Electric Cooperative Inc:
Data Sources and Methodology
This transparency report for Palmetto Electric Cooperative Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.