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)
Exempt Organization StatusUnconditional Exemption
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: 

Other organizations performing similar types of work: 


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

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
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$10,055,825
Gross income from other sources$1,193,512
Statement of Revenue (for 2011)
Total revenue$9,376,122
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$10,120,831
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$52,439
Income from investment of tax-exempt bond proceeds$0
Net rental loss$-797,148
Gross rents (Real / Personal)$0 / $911,847
Less: rental expenses (Real / Personal)$0 / $1,708,995
Rental income or (loss) (Real / Personal)$0 / $-797,148
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 2011)
Total functional expenses$9,376,122
Compensation of current officers, directors, trustees, and key employees$1,044,432
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Balance Sheet (for 2011)
Total assets$57,428,292
Total liabilities$39,756,223
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$38,279,606
Unsecured notes and loans payable to unrelated third parties$0
Total net assets or fund balances$17,672,069
Retained earnings, endowment, accumulated income, or other funds$17,671,569
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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Number of organizations performing similar types of work
North Carolina7
North Dakota1
New Hampshire3
New Jersey1
New Mexico26
New York6
Rhode Island1
South Carolina5
South Dakota4
West Virginia5
Total617 is not associated with, endorsed by, or sponsored by New Horizon Electric Cooperative Inc and has no official or unofficial affiliation with New Horizon Electric Cooperative Inc