MPD Electric Cooperative

Legal name: Mpd Electric Cooperative Inc

Nonprofit profile at a glance

EIN
854014392
IRS 990 coverage
2022–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Florence, SC, US
Phone
(843) 665-4070
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Utilities

Official website

Reported finances

Revenue
$214,898,728
Expenses
$210,570,727
Assets
$401,909,826
Liabilities
$231,644,195

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • WILLIAM L FLEMING JR (PRESIDENT (C)

Highest reported compensation

  • WILLIAM L FLEMING JR (PRESIDENT (C): $827,348 total reported compensation
  • ROBERT B FLEMING JR (CHIEF OPERAT): $759,090 total reported compensation
  • PAUL CONWAY (VP BUSINESS): $706,240 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

MPD Electric Cooperative exists to provide safe, reliable, and affordable electric service to its members while improving the quality of life in the communities it serves.

What it reported doing in 2024

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. 97% 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: 66
  • Accountability: 91
  • Sustainability: 48
  • 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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 77th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 1.91; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 93% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 28.7% per year; rating input score 100; 97th percentile among comparable filings

Details

  • What they do: 10 programs and campaigns described on the official site · 5 operating locations identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $210.6M in reported program spending
  • Leadership: top reported pay $827K · 25 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $9.9M reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 25 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 — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.