MPD Electric Cooperative

Legal name: Marlboro Electric Cooperative Inc

Nonprofit profile at a glance

EIN
570204115
IRS 990 coverage
2016–2023
Official website data refreshed
Sep 2026
Forms available
Form 990 2023
Location
Florence, SC, US
Phone
(843) 665-4070
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$77,283,101
Expenses
$78,179,445
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Highest reported compensation

  • DONALD J QUICK (SEC./TREASUR): $33,357 total reported compensation
  • SAM P MCINNIS JR (CHAIRMAN): $31,963 total reported compensation
  • EDGAR M GORDON (TRUSTEE): $19,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide reliable, safe, and affordable electric service to our members while improving the quality of life in the communities we serve.

What it reported doing in 2023

To provide the best possible electric service to all who desire it within the system area at a reasonable cost consistent with the highest standards of service.

Operating model

Revenue model
Earned-program. 99% 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: 90
  • Accountability: 90
  • Sustainability: 22
  • Growth: 0

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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 78th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.2%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.2%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: -24.9% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • What they do: 10 programs and campaigns described on the official site · 3 operating locations identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $69.7M in reported program spending
  • Leadership: top reported pay $33K · 12 people listed
  • Highest-paid contractors: 1 contractor listed · $117K reported
  • Consistency: 7 of 8 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes related organizations
  • Filing history: 6 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • Money network: 9 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.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.