| Return Reference | Explanation |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | TO PROVIDE QUALITY SERVICE AND PRODUCTS TO MEET THE ENERGY NEEDS OF OUR MEMBERS AT A COMPETITIVE PRICE CONSISTENT WITH SOUND BUSINESS PRACTICES, WHILE ENHANCING THE QUALITY OF LIFE IN OUR SERVICE AREA THROUGH THE SUPPORT OF ECONOMIC, CIVIC AND EDUCATIONAL OPPORTUNITIES. |
| FORM 990, PART VI | DISCLOSURE REQUIREMENT: TRUSTEES ARE REQUIRED TO DISCLOSE ANY GOODS/SERVICES PROVIDED BY ANY COMPANY (OF WHICH THE COOPERATIVE IS NOT AN OWNER AND/OR A MEMBER) THAT HAS/DESIRES A BUSINESS RELATIONSHIP WITH THE COOPERATIVE. THE TRUSTEES WERE ASKED TO DISCLOSE ANY SUCH ITEMS AT OUR JANUARY 22, 2026 BOARD MEETING, AND NO KNOWN CASES WERE REPORTED. |
| FORM 990, PAGE 6, PART VI, LINE 6 | THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7A | THE COOPERATIVE HAS MEMBERS WHO ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 7B | CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 11B | FORM 990 IS REVIEWED BY THE BOARD WITH ALL SUPPORTING DOCUMENTATION MADE AVAILABLE TO THEM. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE MARKET RANGE FOR THE TOP OFFICIAL IS DETERMINED LIKE ALL OF THE OTHER EMPLOYEES - BASED ON SALARY STATISTICS FOR THE COOPERATIVES THROUGHOUT THE STATE. THE NATIONAL TRADE ASSOCIATION, NRECA, COLLECTS THE DATA AND MAKES IT AVAILABLE TO THOSE WILLING TO PAY A SMALL FEE FOR THE ANNUAL REPORT. USING THAT REPORT OF DATA, SANTEE DETERMINES WHAT THE AVERAGE PAY IN SOUTH CAROLINA IS FOR ANY COMMON POSITION, INCLUDING IT'S TOP OFFICER. THE DATA CAN BE BROKEN DOWN THREE DIFFERENT WAYS BY COOPERATIVE SIZE AND IT CAN ALSO BE STUDIED FOR THE ENTIRE GROUP OF 19 COOPERATIVES IN SOUTH CAROLINA. ONCE THE MARKET RANGE IS DETERMINED, THEN THE EMPLOYEE IS MEASURED AGAINST HIS/HER POSITION DESCRIPTION TO DETERMINE WHERE HE/SHE SHOULD BE IN RELATION TO THE APPROPRIATE MARKET VALUE. THESE RAISES ARE LIMITED BY THE COLLECTIVE AMOUNT THAT THE BOARD APPROVES FOR RAISES WHEN THEY APPROVE THE BUDGET EACH YEAR. THIS RAISE BUDGET AMOUNT IS DETERMINED BY THE COOPERATIVE'S PERFORMANCE IN THREE CAREGORIES - BOTTOM LINE, SAFETY, AND POWER RELIABILITY. THE BOARD ALSO PROVIDES AN ANNUAL COST OF LIVING ADJUSTMENT TO BE ADDED TO THE PERFORMANCE ADJUSTMENT. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE MARKET RANGE FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED IN THE SAME MANNER AS ALL OTHER COOPERATIVE EMPLOYEES - BASED ON SALARY STATISTICS FOR THE COOPERATIVES THROUGHOUT THE STATE OF SOUTH CAROLINA. THE NATIONAL TRADE ASSOCIATION, NRECA, COLLECTS THE DATA AND MAKES IT AVAILABLE TO THOSE WILLING TO PAY A SMALL FEE FOR THE ANNUAL REPORT. USING THE DATA FROM THAT REPORT, SANTEE DETERMINES WHAT THE AVERAGE PAY IN SOUTH CAROLINA IS FOR ANY COMMON POSITION, INCLUDING OFFICERS OR KEY EMPLOYEES. THE NRECA DATA CAN BE BROKEN DOWN INTO MULTIPLE WAYS BY COOPERATIVE SIZE AND IT CAN ALSO BE ANALYZED FOR THE ENTIRE GROUP OF 19 COOPERATIVES IN SOUTH CAROLINA. ONCE THE MARKET RANGE IS DETERMINED, THEN THE EMPLOYEE IS MEASURED AGAINST HIS/HER POSITION DESCRIPTION TO DETERMINE WHERE HE/SHE SHOULD BE IN RELATION TO THE APPROPRIATE MARKET VALUE. THESE RAISES ARE LIMITED BY THE COLLECTIVE AMOUNT THAT THE BOARD APPROVES FOR RAISES WHEN THEY APPROVE THE ANNUAL BUDGET. THE RAISE BUDGET AMOUNT IS DETERMINED BY THE COOPERATIVE'S PERFORMANCE IN THREE CAREGORIES - BOTTOM LINE, SAFETY, AND POWER RELIABILITY. THE BOARD ALSO PROVIDES AN ANNUAL COST OF LIVING ADJUSTMENT TO BE ADDED TO THE PERFORMANCE ADJUSTMENT. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. THE COOPERATIVE'S BYLAWS ARE MADE AVAILABLE TO THE PUBLIC ON IT'S WEBSITE. |
| FORM 990, PART VII | THE COOPERATIVE HAS 9 BOARD SEATS. THE FORM 990 REQUIRES ALL DIRECTORS THAT SERVED DURING THE YEAR TO BE REPORTED ON THE FORM 990 IN PART VII. AS A RESULT, 9 DIRECTORS ARE REPORTED AS RECEIVING COMPENSATION IN PART VII. THE DAILY PER DIEM AMOUNT OF 500 PLACES SANTEE ELECTRIC WITHIN RANGE OF THE AVERAGE FOR OUR STATE AND REGION. WHILE THIS IS NOT CONSIDERED TRADITIONAL COMPENSATION, THE PER DIEM REIMBURSEMENT DOES SERVE TWO VERY IMPORTANT PURPOSES. (1) IT SERVES AS A REMINDER AND AN AGREEMENT THAT THE TRUSTEE OWES A FIDUCIARY DUTY TO THE COOPERATIVE THEY HAVE AGREED TO SERVE. (2) FURTHERMORE, BECAUSE OF THE QUALIFICATIONS REQUIRED TO SERVE ON THE BOARD OF SEC - WITH ANNUAL REVENUES AND TOTAL ASSETS WELL IN EXCESS OF 150M/YEAR AND 300M, RESPECTIVELY - THE MEMBERS OF OUR BOARD QUITE OFTEN HAVE A WIDE RANGE OF RESPONSIBILITIES OUTSIDE OF THEIR BOARD SERVICE. PER DIEM IS A METHOD OF REIMBURSING THEM FOR THE TIME THEY DEDICATE TO THIS SERVICE AND FOR THE EXPERTISE THEY BRING TO THE TABLE. BOARD COMPENSATION IS COMPOSED OF THE FOLLOWING: BILLY L. MORRIS, JR.: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 5,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 5,500 TRAINING AND CERTIFICATION - 7,000 INSURANCE - 29,237 OTHER FRINGE BENEFITS - 500 TOTAL 1099 COMPENSATION - 53,737 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 15,896 TOTAL - 69,633 ANDY D. MCKNIGHT: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 5,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 9,000 TRAINING AND CERTIFICATION - 5,000 INSURANCE - 15,862 OTHER FRINGE BENEFITS - 590 TOTAL 1099 COMPENSATION - 41,952 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 13,979 TOTAL - 55,931 TIMOTHY COOPER: REGULAR BOARD MEETING - 5,500 SPECIAL BOARD AND COMMITTEE MEETINGS - 5,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 11,000 TRAINING AND CERTIFICATION - 4,000 INSURANCE - -0- OTHER FRINGE BENEFITS - 560 TOTAL 1099 COMPENSATION - 26,060 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 16,268 TOTAL - 42,328 DONALD E. COKER: REGULAR BOARD MEETING - 5,500 SPECIAL BOARD AND COMMITTEE MEETINGS - 5,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 11,000 TRAINING AND CERTIFICATION - 6,000 INSURANCE - 15,990 OTHER FRINGE BENEFITS - 530 TOTAL 1099 COMPENSATION - 44,020 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 11,806 TOTAL - 55,826 WALTER SANDERS: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,000 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 8,500 TRAINING AND CERTIFICATION - 4,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 546 TOTAL 1099 COMPENSATION - 23,546 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 14,471 TOTAL - 38,017 ALLEN NESMITH: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 5,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 9,000 TRAINING AND CERTIFICATION - 1,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 480 TOTAL 1099 COMPENSATION - 22,480 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 10,197 TOTAL - 32,677 HARRY WALTERS: REGULAR BOARD MEETING - 5,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 3,500 TRAINING AND CERTIFICATION - 1,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 480 TOTAL 1099 COMPENSATION - 14,980 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 3,247 TOTAL - 18,227 WILLIAM FLOYD: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 10,500 TRAINING AND CERTIFICATION - 2,500 INSURANCE - -0- OTHER FRINGE BENEFITS - 488 TOTAL 1099 COMPENSATION - 23,988 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 13,576 TOTAL - 37,564 DUDLEY MUSIER: REGULAR BOARD MEETING - 6,000 SPECIAL BOARD AND COMMITTEE MEETINGS - 4,500 COOPERATIVE SERVICE ORGANIZATION MEETINGS - 7,500 TRAINING AND CERTIFICATION - 5,000 INSURANCE - -0- OTHER FRINGE BENEFITS - 588 TOTAL 1099 COMPENSATION - 23,588 TRAVEL EXPENSE AND REGISTRATION FEES (PAID & REIMBURSED) - 13,291 TOTAL - 36,879 THERE ARE SEVERAL PURPOSES FOR THE SPECIAL BOARD MEETINGS AND COMMITTEE MEETINGS HELD THIS YEAR AND EVERY YEAR. A NUMBER OF SPECIAL BOARD MEETINGS WERE CONVENED TO ADDRESS TIME SENSITIVE AND OPERATIONAL MATTERS THAT REQUIRED FOCUSED DISCUSSION OUTSIDE OF REGULAR BOARD MEETINGS. THESE SPECIAL MEETINGS INCLUDED TOPICS SUCH AS UPDATES AND REVISIONS TO BOARD POLICIES, OFFICER ELECTIONS, THE OPERATION ROUND UP PROGRAM, INSURANCE MATTERS, AND EDUCATIONAL SESSIONS FOR OUR TRUSTEES. EDUCATIONAL TOPICS ADDRESSED DURING SPECIAL MEETINGS INCLUDED EMPLOYEE COMPENSATION AND RAISES, ELECTRIC POWER SYSTEMS, AND POWER OUTAGE RESPONSE AND MANAGEMENT. AS FOR THE COMMITTEE MEETINGS: (1) THE INSURANCE COMMITTEE (TRUSTEES SANDERS, MUSIER, FLOYD, AND COOPER) TYPICALLY MEETS ONCE PER YEAR TO DISCUSS EMPLOYEE INSURANCE AND BENEFITS. (2) THE FINANCE/ETHICS COMMITTEE (TRUSTEES MCKNIGHT, FLOYD, COKER, AND NESMITH) TYPICALLY MEETS 1-2 TIMES PER YEAR TO DISCUSS THE COOPERATIVE BUDGET. (3) THE SETTING GOALS/EXPECTATIONS COMMITTEE (TRUSTEES NESMITH, WALTERS, MCKNIGHT, AND COKER) TYPICALLY MEETS 1-2 TIMES PER YEAR TO DEAL WITH THE CEO'S EVALUATION, GOALS, AND APPRAISAL. (4) FINALLY, THE POLICY COMMITTEE (TRUSTEES COKER, MUSIER, WALTERS, AND SANDERS) TYPICALLY MEETS 2-3 TIMES PER YEAR TO KEEP THE COOPERATIVE'S GOVERNING POLICIES CURRENT WITH TODAY'S LAWS AND CIRCUMSTANCES. THE CHAIRMAN, CURRENTLY BILLY L. MORRIS, JR., IS REQUIRED TO SERVE AS AN EX-OFFICIO MEMBER OF EACH COMMITTEE AND IS EXPECTED TO ATTEND ALL COMMITTEE MEETINGS. TRUSTEES ARE REQUIRED FROM TIME TO TIME TO PARTICIPATE IN MEETINGS OF SERVICE ORGANIZATIONS TO WHICH THE COOPERATIVE BELONGS. SINCE INDIVIDUAL COOPERATIVES ARE NECESSARILY SMALL, THEY FORM LARGER OPRGANIZATIONS TO SERVE COMMON NEEDS. OUR MATERIALS SUPPLIER, OUR NATIONAL TRADE ASSOCIATION, OUR STATEWIDE TRADE ASSOCIATION, AND OUR WHOLESALE POWER SUPPLIER ARE SUCH EXAMPLES. PARTICIPATING IN THEIR MEETINGS IS CRUCIAL IN MAKING SURE SANTEE ELECTRIC COOPERATIVE IS WELL-REPRESENTED AT EVERY LEVEL. A GREAT DEAL IS REQUIRED OF OUR TRUSTEES - INCLUDING GETTING (AND MAINTAINING) AN EDUCATION IN ALL THINGS THAT IMPACT THE COOPERATIVE. FOR THIS REASON, WE REQUIRE THEM TO PARTICIPATE IN QUITE A LOT OF TRAINING AND CERTIFICATION. WHILE WE REQUIRE THAT ALL TRUSTEES MAINTAIN A CERTAIN LEVEL AT ALL TIMES, THERE IS A HEAVIER BURDEN PLACED ON NEWER TRUSTEES TO ATTAIN CERTIFICATION QUICKLY. FOR THIS REASON, YOU TYPICALLY SEE SOME OF OUR NEWER TRUSTEES (COOPER) WITH SLIGHTLY HIGHER FIGURES IN THE CATEGORY. IN THE OTHER FRINGE BENEFITS CATEGORY, EACH TRUSTEE WAS GIVEN: (1) A CHRISTMAS GIFT BY THE COOPERATIVE (VALUED AT 480.03 EACH) AND (2) A BOX OF ANNUAL MEETING GIFTS (VALUED AT 172.80 PER TRUSTEE) TO DISTRIBUTE TO MEMBERS IN THEIR DISTRICT WHO WERE UNABLE TO ATTEND THIS YEAR'S ANNUAL MEETING. ANDY MCKNIGHT AND ROBERT ARDIS III RECEIVED 19,528 AND 9,913 IN COMPENSATION, RESPECTIVELY, FROM CENTRAL ELECTRIC COOPERATIVE, INC. (CENTRAL) IN 2025. IN ADDITION, ROBERT ARDIS III RECEIVED COMPENSATION FROM THE SOUTH CAROLINA POWER TEAM TOTALING 12,228. CENTRAL DOES NOT MEET THE DEFINITION OF A RELATED ORGANIZATION FOR PURPOSES OF THE FORM 990 AND ARE NOT INCLUDED ON PART R. MR. MCKNIGHT AND MR. ARDIS ONLY HAVE THE ABILITY TO SERVE ON THE BOARD OF CENTRAL BECAUSE THEY ARE OFFICERS OF SANTEE ELECTRIC COOPERATIVE, INC. (SANTEE). CENTRAL IS A GENERATION AND TRANSMISSION COOPERATIVE THAT EXISTS SOLELY FOR THE BENEFIT OF ITS MEMBERS. CENTRAL PROVIDES A RELIABLE, LONG-TERM, AND STABLE SUPPLY OF POWER, WHICH ACCOMODATES GROWTH, AT THE LOWEST POSSIBLE COST CONSISTENT WITH GOOD UTILITY PRACTICE. CENTRAL PROVIDES FOR RELIABLE DELIVERY OF POWER WHEN AND WHERE DESIRED, CONSISTENT WITH APPLICABLE GUIDELINES. CENTRAL PROVIDES ADDITIONAL ENERGY-RELATED OR DELIVERY-RELATED SERVICES, AS DIRECTED BY ITS BOARD OF TRUSTEES. SANTEE HAS A WHOLESALE POWER CONTRACT WITH CENTRAL THAT EXTENDS THROUGH 2058. SANTEE ECI PAID CENTRAL 100,712,250 DURING 2025. |
| FORM 990, PART XI, LINE 9 | PATRONAGE CAPITAL CREDITS 6,500,663 CHANGE IN MEMBERSHIPS 280 OTHER COMPREHENSIVE INCOME 1,760,304 OTHER 53,602 CAPITAL CREDIT RETIREMENTS -2,279,108 TOTAL 6,035,741 |
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