Broad River Electric Cooperative, Inc.
Legal name: Broad River Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 570128696
- IRS 990 coverage
- 2016–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Cowpens, SC, US
- Phone
- (866) 687-2667
- Rating
- 50
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $62,308,340
- Expenses
- $62,397,364
- Assets
- $166,687,542
- Liabilities
- $116,320,413
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- TERRY W MALLARD (PRESIDENT &)
Highest reported compensation
- TERRY W MALLARD (PRESIDENT &): $742,931 total reported compensation
- CARY JOHNSON (COO): $279,149 total reported compensation
- JOHN B FOWLER (VP-MEMBER SE): $229,641 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Your cooperative is committed to the provision of safe, reliable and reasonably priced electric and other energy related services while improving the communities we serve.
Broad River Electric Cooperative, Inc. is a member-owned electric utility serving over 20,000 residential, commercial, and industrial accounts in upstate South Carolina. As a Touchstone Energy Cooperative, it provides reliable electricity, energy efficiency programs, renewable energy options, and community-focused initiatives such as Operation Round Up and Broad River Electric Charities. The cooperative also supports economic development through regional partnerships and offers educational programs like Bright Ideas Educator Grants and youth leadership trips.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 82
- Accountability: 100
- Sustainability: 40
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.1%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 2.67; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.7; rating input score 22; 22nd percentile among comparable filings
- Officer compensation ratio: 3.4%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: -25.2% per year; rating input score 0; 0th percentile among comparable filings
- Revenue growth: 2.2% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 5.7% per year; rating input score 100; 42nd percentile among comparable filings
Details
- What they do: 6 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $743K · 15 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.7M reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Operating margin scored 26/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 22/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.