New Horizon Electric Cooperative Inc in Laurens, South Carolina (SC)

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New Horizon Electric Cooperative Inc
Employer Identification Number (EIN)562057487
Name of OrganizationNew Horizon Electric Cooperative Inc
AddressPO BOX 1169, Laurens, SC 29360-1169
SubsectionMutual Ditch or Irrigation Co.
Ruling Date05/1999
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Tax Period12/2012
Assets$50,000,000 to greater
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$54,168,490
Amount of Income$8,360,670
Form 990 Revenue Amount$7,338,900
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Local Benevolent Life Insurance Associations, Mutual Irrigation and Telephone Companies, and Like Organizations


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Amount of income in 2012: $8,360,670 (it was $9,376,122 in 2011)
New Horizon Electric Cooperative Inc: 

 $8,360,670
Other organizations performing similar types of work: 

 $129,985

Assets in 2012: $54,168,490 (it was $57,428,292 in 2011)
New Horizon Electric Cooperative Inc: 

 $54,168,490
Other organizations performing similar types of work: 

 $512,274

Expenses in 2012: $7,338,900
New Horizon Electric Cooperative Inc: 

 $7,338,900
Other organizations performing similar types of work: 

 $115,862

Income to expenses ratio in 2012: 1.1
New Horizon Electric Cooperative Inc: 

 1.1
Other organizations performing similar types of work: 

 1.0

Number of employees in 2012: 19
This organization: 

 19
Other organizations performing similar types of work: 

 1

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$7,391,651
Gross income from other sources$901,727
Statement of Revenue (for 2012)
Total revenue$7,338,900
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$7,939,845
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$59,577
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental loss$-660,522
Gross rents (Real / Personal)$0 / $361,248
Less: rental expenses (Real / Personal)$0 / $1,021,770
Rental income or (loss) (Real / Personal)$0 / $-660,522
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$7,338,900
Compensation of current officers, directors, trustees, and key employees$26,000
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$7,312,900
Balance Sheet (for 2012)
Total assets$54,168,490
Total liabilities$35,114,026
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$34,026,547
Unsecured notes and loans payable to unrelated third parties$0
Other$1,087,479
Total net assets or fund balances$19,054,464
Retained earnings, endowment, accumulated income, or other funds$19,053,964
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:Not provided
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1United Electric Cooperative Services IncPO BOX 16, Cleburne, TX 76033-0016TX2003-04$172,217,747
2Wolverine Power Marketing Cooperative10125 W Watergate Rd, Cadillac, MI 49601-8458MI2001-03$56,652,550
3Southeastern Electric Cooperative IncPO BOX 388, Marion, SD 57043-0388SD2000-08$54,003,871
4Southern Montana Electric Generation And Transmission Coop IPO BOX 80048, Billings, MT 59108-0048MT2005-05$43,604,621
5Smarr Emc2100 E Exchange Pl, Tucker, GA 30084-5342GA2000-06$37,165,074
6California Broadband Cooperative Inc1101 Nimitz Avenue, Vallejo, CA 94592-1014CA2011-04$20,811,664
7Talquin Water And Wastewater Inc1640 W Jeffrson St, Quincy, FL 32351FL2007-05$11,697,863
8West Oregon Electric Cooperative IncPO BOX 69, Vernonia, OR 97064-0069OR1945-09$9,704,097
9New Horizon Electric Cooperative IncPO BOX 1169, Laurens, SC 29360-1169SC1999-05$8,360,670
10Washington County Rural Telephone Cooperative Inc105 E Railroad St, Pekin, IN 47165-7848IN1965-12$4,978,300
11Utilities Service Alliance Inc9200 Indian Creek Parkway Suite 20, Overland Park, KS 66210-2036KS2006-04$2,887,337
12North Georgia Network Cooperative Inc6135 Hwy 115 W Suite 1a, Clarkesville, GA 30523-6761GA2012-04$2,815,215
13Meansville Riley Road Water Company IncPO BOX 823, Union, SC 29379-0823SC2006-06$2,250,508
14West Laurel Water AssociationPO BOX 726, London, KY 40743-0726KY2010-09$2,134,380
15Creedmoor-Maha Water Supply Co-Op Inc12100 Laws Rd, Buda, TX 78610-9607TX1999-12$1,914,937
16Kunia Water Association IncPO BOX 700489, Kapolei, HI 96709-0489HI2011-03$1,468,833
17Village Energy Cooperative Association Inc, V E C A4100 Holiday St Nw Ste 201, Canton, OH 44718-2589OH2000-04$1,160,224
18Dewees Utility Corporation273 Old House Ln, Dewees Island, SC 29451-9408SC2007-03$567,602
19Rocky Creek Water CoPO BOX 806, Jonesville, SC 29353-0806SC2010-07$396,985
20Levy Limehouse Bellinger Hill Water Company Inc6 Snake Rd, Okatie, SC 29909-3937SC2008-06$261,306
Number of organizations performing similar types of work
Alaska5
Alabama4
Arkansas13
Arizona15
California95
Colorado49
Connecticut1
Florida12
Georgia6
Hawaii6
Iowa1
Idaho38
Illinois18
Indiana10
Kansas3
Kentucky4
Louisiana18
Massachusetts3
Maryland4
Michigan6
Minnesota5
Missouri12
Mississippi44
Montana11
North Carolina9
North Dakota1
New Hampshire3
New Jersey1
New Mexico28
Nevada6
New York9
Ohio13
Oklahoma5
Oregon26
Pennsylvania16
Rhode Island2
South Carolina5
South Dakota5
Tennessee3
Texas68
Utah45
Virginia6
Vermont4
Washington58
West Virginia6
Wyoming5
Total707

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