Nonprofit · EIN 57-0143233
COASTAL ELECTRIC COOPERATIVE INC
Tax-exempt · WALTERBORO, SC 29488
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $30,600,099 | $30,600,099 | $0 | $66,583,418 | $49,914,279 | $16,669,139 |
| December 31, 2023 | 990 | $28,592,457 | $26,105,856 | $2,486,601 | $65,171,247 | $49,246,224 | $15,925,023 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $30,329,280
- Investment income
- $260,920
- Other revenue
- $9,899
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $1,029,055
- Compensation of officers, directors and key employees
- $635,009
- Salaries, compensation and benefits (total)
- $679,336
- Professional fundraising fees
- $0
- Depreciation
- $1,904,763
- Program services (functional)
- $30,600,099
Balance sheet and other
- Total assets, start of year
- $65,171,247
- Total assets, end of year
- $66,583,418
- Total liabilities, end of year
- $49,914,279
- Net assets, end of year
- $16,669,139
- Land, buildings and equipment
- $53,174,956
- Gross receipts
- $30,600,099
- Employees
- 38
- Year formed
- 1940
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARK L WALLING | PRESIDENT & Officer | 50 | $305,191 | $190,611 |
| JANICE F AVANT | VP - FINANCE Highest-paid employee | 50 | $199,662 | $137,476 |
| MATTHEW BRYAN | VP-ENG. & OP Highest-paid employee | 50 | $194,857 | $125,310 |
| TIMOTHY MIXSON | LEAD LINEMAN Highest-paid employee | 50 | $165,515 | $84,673 |
| RICHARD MASSEY | LINEMAN SUPE Highest-paid employee | 50 | $160,748 | $75,455 |
| DEANNE FENDER | EXECUTIVE AS Highest-paid employee | 50 | $150,015 | $80,892 |
| LEON H BRYAN | FORMER - TRU Former | 0 | $44,327 | $0 |
| LAVERN POLK | TRUSTEE Trustee or director | 12.29 | $24,418 | $0 |
| JAMES H COPELAND III | TRUSTEE Trustee or director | 11.63 | $19,363 | $0 |
| WENDELL MCDONALD | TRUSTEE Trustee or director | 10.9 | $16,633 | $0 |
| JOHHNY FRANK | TREASURER Trustee or director, Officer | 11.13 | $530 | $15,750 |
| JAMES C BRYAN | TRUSTEE Trustee or director | 10 | $14,608 | $0 |
| TERRY HOFF | SECRETARY Trustee or director, Officer | 9.77 | $14,030 | $0 |
| WILLIAM M SMOAK | TRUSTEE Trustee or director | 9.69 | $13,465 | $0 |
| JAMES M BUNTON JR | CHAIRMAN Trustee or director, Officer | 8.37 | $530 | $10,350 |
1 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| IAN PADGETT | VICE CHAIRMA Trustee or director, Officer | 7.92 | $530 | $9,000 |
990 for the year ended December 31, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARK L WALLING | PRESIDENT & Officer | 50 | $287,215 | $168,894 |
| JANICE F AVANT | VP - FINANCE Highest-paid employee | 50 | $182,822 | $133,266 |
| MATTHEW BRYAN | VP-ENG. & OP Highest-paid employee | 50 | $177,619 | $120,301 |
| RICHARD MASSEY | LEAD LINEMAN Highest-paid employee | 50 | $142,316 | $68,334 |
| RHONDA MARTIN | OFFICE MANAG Highest-paid employee | 50 | $108,256 | $71,907 |
| COBY MARTIN | LINEMAN Highest-paid employee | 50 | $108,829 | $55,294 |
| LEON H BRYAN | FORMER - TRU Former | – | $38,548 | $0 |
| LAVERN POLK | TRUSTEE Trustee or director | 14.56 | $25,016 | $0 |
| JAMES H COPELAND III | TRUSTEE Trustee or director | 13.42 | $20,451 | $0 |
| WILLIAM M SMOAK | TRUSTEE Trustee or director | 10.75 | $15,739 | $0 |
| WENDELL MCDONALD | TRUSTEE Trustee or director | 10.13 | $15,307 | $0 |
| JAMES C BRYAN | TRUSTEE Trustee or director | 10.19 | $13,957 | $0 |
| TERRY HOFF | SECRETARY Trustee or director, Officer | 9.58 | $11,803 | $0 |
| JAMES M BUNTON JR | CHAIRMAN Trustee or director, Officer | 9.92 | $553 | $0 |
| IAN PADGETT | VICE CHAIRMA Trustee or director, Officer | 8.96 | $553 | $0 |
| JOHHNY FRANK | TREASURER Trustee or director, Officer | 11.71 | $553 | $0 |
Address and contacts
- Address (IRS master file)
- 2269 JEFFERIES HWY, WALTERBORO, SC 29488-7230
- In care of
- % PERATIVE INC
- Principal officer (990 for 2024)
- MARK L WALLING, 2269 JEFFERIES HWY, WALTERBORO, SC 29488
- Signed the 990
- MARK L WALLING, PRESIDENT & CEO
- Phone
- (843) 538-5700
- Website
- HTTPS://WWW.COASTAL.COOP/
- Return prepared by
- MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC
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.
Program accomplishments
- N/A
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 57-0143233
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1944
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $66,583,418
- Income (IRS master file)
- $30,600,099
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $30,600,099 | $30,600,099 | $66,583,418 | XML |
| 990 | December 2023 | $28,592,457 | $26,105,856 | $65,171,247 | XML |
| 990 | December 2022 | $28,929,598 | $31,498,691 | $59,652,643 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-0143233).
Questions about COASTAL ELECTRIC COOPERATIVE INC
- What is the EIN of COASTAL ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of COASTAL ELECTRIC COOPERATIVE INC is 57-0143233.
- Is COASTAL ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1944.
- Are donations to COASTAL ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does COASTAL ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COASTAL ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COASTAL ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of COASTAL ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names MARK L WALLING.
- Who are the officers and directors of COASTAL ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 16 people; 16 received compensation from the organization, the highest $305,191 (MARK L WALLING, PRESIDENT &).
- How much revenue does COASTAL ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $30,600,099, expenses of $30,600,099 and total assets of $66,583,418 at year end.
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