Civic Intelligence

Grayson Rural Electric Cooperative Corporation

990 • Fiscal year 2015 • EIN 61-0447602

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 15, 2016

Organization Profilewww.graysonrecc.com
109 Bagby ParkGrayson, KY 41143

(606) 474-5136

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.67x

Higher debt load relative to assets than 85% of similar nonprofits.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

64th percentile

1.55x

Higher debt load relative to revenue than 64% of similar nonprofits.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2015

Net Margin

47th percentile

0.0%

Higher net margin than 47% of similar nonprofits.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

36th percentile

$196,009

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2015

Asset Growth

26th percentile

1.2%

Faster asset growth than 26% of similar nonprofits.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

30th percentile

-5.3%

Faster revenue growth than 30% of similar nonprofits.

2015 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$75,985,062

Up $868,835 (+1.2%) from 2014

Net Assets

Up

$25,391,897

Up $2,117,376 (+9.1%) from 2014

Liabilities

Down

$50,593,165

Down $1,248,541 (-2.4%) from 2014

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin47th percentile

Revenue

Down

$32,637,857

Down $1,821,652 (-5.3%) from 2014

Expenses

Down

$32,637,857

Down $1,821,652 (-5.3%) from 2014

Net Income

Flat

$0

Flat from 2014

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $65,216,973Liabilities 2010: $47,341,973Net Assets 2010: $17,875,0002010Assets 2011: $66,307,439Liabilities 2011: $47,940,391Net Assets 2011: $18,367,0482011Assets 2012: $68,429,726Liabilities 2012: $49,779,397Net Assets 2012: $18,650,3292012Assets 2013: $72,893,358Liabilities 2013: $51,356,240Net Assets 2013: $21,537,1182013Assets 2014: $75,116,227Liabilities 2014: $51,841,706Net Assets 2014: $23,274,5212014Assets 2015: $75,985,062Liabilities 2015: $50,593,165Net Assets 2015: $25,391,8972015Assets 2016: $77,808,837Liabilities 2016: $50,927,351Net Assets 2016: $26,881,4862016Assets 2017: $77,299,111Liabilities 2017: $51,689,927Net Assets 2017: $25,609,1842017Assets 2018: $79,306,260Liabilities 2018: $52,772,499Net Assets 2018: $26,533,7612018Assets 2019: $82,855,758Liabilities 2019: $54,288,514Net Assets 2019: $28,567,2442019Assets 2020: $90,305,352Liabilities 2020: $59,887,772Net Assets 2020: $30,417,5802020Assets 2021: $91,917,122Liabilities 2021: $58,067,782Net Assets 2021: $33,849,3402021Assets 2022: $94,665,552Liabilities 2022: $56,391,292Net Assets 2022: $38,274,2602022Assets 2023: $92,629,124Liabilities 2023: $52,319,970Net Assets 2023: $40,309,1542023Assets 2024: $90,678,862Liabilities 2024: $49,532,404Net Assets 2024: $41,146,4582024

Highlighted filing

2015

Assets$75,985,062
Liabilities$50,593,165
Net Assets$25,391,897
Open 2015 Filing

Operations Trend

Revenue Growth30th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $29,497,8182010Expenses 2011: $31,337,5162011Expenses 2012: $31,125,4192012Revenue 2013: $34,072,114Expenses 2013: $34,072,114Net Income 2013: $02013Revenue 2014: $34,459,509Expenses 2014: $34,459,509Net Income 2014: $02014Revenue 2015: $32,637,857Expenses 2015: $32,637,857Net Income 2015: $02015Revenue 2016: $32,008,547Expenses 2016: $32,008,547Net Income 2016: $02016Revenue 2017: $28,182,796Expenses 2017: $29,726,355Net Income 2017: -$1,543,5592017Revenue 2018: $32,813,423Expenses 2018: $32,813,423Net Income 2018: $02018Revenue 2019: $32,551,549Expenses 2019: $32,551,549Net Income 2019: $02019Revenue 2020: $31,132,893Expenses 2020: $31,132,893Net Income 2020: $02020Revenue 2021: $34,250,791Expenses 2021: $34,250,791Net Income 2021: $02021Revenue 2022: $43,062,397Expenses 2022: $43,062,397Net Income 2022: $02022Revenue 2023: $41,054,365Expenses 2023: $41,054,365Net Income 2023: $02023Revenue 2024: $40,083,276Expenses 2024: $40,083,276Net Income 2024: $02024

Highlighted filing

2015

Revenue$32,637,857
Expenses$32,637,857
Net Income$0
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 15, 2016
Return Version
2015v2.0
Gross Receipts
$32,637,857
Mission and Program Overview

Mission

Provide electric service to member owners on a patronage basis. Serve an average of approximately 15,300 customers per month.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$52,009,956$52,667,135▲ $657,179
Rtn Earn Endowment Incm Other Fnds$24,183,184$26,219,945▲ $2,036,761
Investments Program Related$13,264,094$14,572,339▲ $1,308,245
Accounts Receivable$7,086,735$6,538,683▼ $548,052
Savings and Temporary Cash Investments$861,000$0▼ $861,000
Inventories for Sale or Use$295,860$505,089▲ $209,229
Cash and Non-Interest-Bearing Accounts$83,639$410,740▲ $327,101
Cap Stk Tr Prin Current Funds$151,780$153,015▲ $1,235
Prepaid Expenses and Deferred Charges$54,107$36,842▼ $17,265
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Pd in Cap Srpls Land Bldg Eqp Fund$-1,060,443$-981,063▲ $79,380
Total Assets$75,116,227$75,985,062▲ $868,835
Other Assets Total$1,460,836$1,254,234▼ $206,602
Liabilities
Mortgage Notes Payable Secured by Investment Property$44,326,727$42,230,385▼ $2,096,342
Other Liabilities$5,064,632$6,326,961▲ $1,262,329
Accounts Payable and Accrued Expenses$2,450,347$2,035,819▼ $414,528
Total Liabilities$51,841,706$50,593,165▼ $1,248,541
Net Assets / Fund Balance
Total Net Assets Fund Balance$23,274,521$25,391,897▲ $2,117,376
Total Liabilities and Net Assets / Fund Balance$75,116,227$75,985,062▲ $868,835

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$52,667,135$19,929,296$72,596,431
Compensation and Service Providers
Top Officer Pay36th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carol Hall FraleyPresident/CEOFT$140,306$55,703$196,009
Kyle ClevengerMgr of OperationsFT$97,708$45,650$143,358
Bradley CherryMgr FinanceFT$74,542$40,183$114,725
Kim BushMgr MarketingFT$67,410$38,500$105,910
Roger TrentChairman-$15,457-$15,457
Harold DupayVice Chairman-$15,260-$15,260
Jimmy WhittDirectorPT$14,865-$14,865
Jim BentleyDirector-$12,865-$12,865
William T RiceDirector-$12,457-$12,457
Ken ArringtonDirectorPT$12,060-$12,060
Eddie MartinSec/Treas-$11,865-$11,865
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$30,743,688
Investment Income
$30,867
Other Revenue
$1,863,302
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,637,857
Total Revenue per Audited Statements
$32,637,857
Total Revenue per Form 990
$32,637,857
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$24,844,060
Salaries, Compensation, and Employee Benefits$5,528,514
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$3,221,794--$3,221,794
Other Salaries and Wages$2,952,285--$2,952,285
Benefits to Members$2,265,283--$2,265,283
Other Expenses$1,114,640--$1,114,640
Other Employee Benefits$1,061,770--$1,061,770
Interest$905,778--$905,778
Pension Plan Contributions$786,414--$786,414
Current Officers, Directors, Trustees, and Key Employees$474,794--$474,794
Payroll Taxes$253,251--$253,251
Insurance$197,727--$197,727
Fees for Services Legal$88,730--$88,730
Fees for Services Accounting$10,125--$10,125
All Other Expenses$-4,398,980--$-4,398,980
Total Functional Expenses$32,637,857$0$0$32,637,857

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$32,637,857
Total Expenses per Audited Statements$32,637,857
Total Expenses per Form 990$32,637,857
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accumulated postretirement benefits$3,168,835
Customer deposits$1,217,042
Notes payable$1,139,524
Other current and accrued liabilities$567,576
Consumer advances for construction$233,984
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Must be a member to receive electric service. Each member has 1 vote. May have more than 1 service per membership.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Nominating committee meets every year there is an election to select a member to run for Director. Member may run for director with a petition signed by 75 or more eligible members.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Articles of Incorporation can only be changed by a majority vote of the membership. By-Laws may be altered, amended, or repealed by the Board of Directors at any regular or special meeting by a majority vote.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Directors are furnished a draft copy of the Form 990, and review it prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Directors and key employees annually complete a questionnaire on family and business relationships.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“15a. Board of Directors review and approve compensation for key employees and other employees using data provided by state and national organization surveys of electric cooperatives.15b. Majority of compensation is negotiated through a union contract.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Copy of Articles of Incorporation and By-Laws are given to each new member. Financial statements are published annually in magazine distributed to each member. Meeting of members is held on an annual basis.”

Filing and Contact Details

Filer

Filer Name
Grayson Rural Electric
EIN
61-0447602
Phone
6064745136
Address
109 Bagby Park, Grayson, KY 41143

Signing Officer

Name
Carol Hall Fraley
Title
President & CEO
Signed
2016-04-15
Discuss with paid preparer
Yes

Organization Details

Formed
1936
Legal Domicile
Ky
Voting Board Members
7
Independent Board Members
7
Employees
55

Preparer

Firm
Alan Zumstein
Address
1032 CHETFORD DRIVE, LEXINGTON, KY 40509
Preparer
Alan Zumstein
Phone
8592647147
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Comprehensive income-postretirement ben = $79380”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Margins allocated to members = $2265283”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Memberships issued = $1235”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Other equities = $31825”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Other equities = -$69896”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Refunds of capital credits = -$190451”

Form 990, Part IX, Line 4 - Benefits paid to or for members

“Represents patronage capital allocated to members in accordance with the bylaws of the Cooperative. This reporting results in a difference between book income and income reported on the Form 990 by the same amount.”

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IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt032637857
IRS990/GrossRentsGrp/RealAmt04800
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/ProgramServicesAmt0197727
IRS990/InsuranceGrp/TotalAmt0197727
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt0905778
IRS990/InterestGrp/TotalAmt0905778
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0295860
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0505089
IRS990/InvestmentIncomeGrp/ExclusionAmt030867
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt030867
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt013264094
IRS990/InvestmentsProgramRelatedGrp/EOYAmt014572339
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt035
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019929296
IRS990/LandBldgEquipBasisNetGrp/BOYAmt052009956
IRS990/LandBldgEquipBasisNetGrp/EOYAmt052667135
IRS990/LandBldgEquipCostOrOtherBssAmt072596431
IRS990/LegalDomicileStateCd0KY
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersAndShrGrossIncomeAmt030743688
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt0-48451
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt0-48451
IRS990/MissionDesc0Provide electric service to member owners on a patronage basis. Serve an average of approximately 15,300 customers per month.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt044326727
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt042230385
IRS990/NetAssetsOrFundBalancesBOYAmt023274521
IRS990/NetAssetsOrFundBalancesEOYAmt025391897
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt04800
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt04800
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt01460836
IRS990/OtherAssetsTotalGrp/EOYAmt01254234
IRS990/OtherChangesInNetAssetsAmt02117376
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01061770
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01061770
IRS990/OtherExpensesGrp/Desc0Cost of power
IRS990/OtherExpensesGrp/Desc1Distribution - maintenance
IRS990/OtherExpensesGrp/Desc2Administrative and general
IRS990/OtherExpensesGrp/Desc3Consumer accounts
IRS990/OtherExpensesGrp/ProgramServicesAmt018455285
IRS990/OtherExpensesGrp/ProgramServicesAmt13191389
IRS990/OtherExpensesGrp/ProgramServicesAmt22057572
IRS990/OtherExpensesGrp/ProgramServicesAmt31114640
IRS990/OtherExpensesGrp/TotalAmt018455285
IRS990/OtherExpensesGrp/TotalAmt13191389
IRS990/OtherExpensesGrp/TotalAmt22057572
IRS990/OtherExpensesGrp/TotalAmt31114640
IRS990/OtherLiabilitiesGrp/BOYAmt05064632
IRS990/OtherLiabilitiesGrp/EOYAmt06326961
IRS990/OtherRevenueMiscGrp/BusinessCd0221000
IRS990/OtherRevenueMiscGrp/BusinessCd1221000
IRS990/OtherRevenueMiscGrp/BusinessCd2221000
IRS990/OtherRevenueMiscGrp/Desc0G&T capital credits
IRS990/OtherRevenueMiscGrp/Desc1Joint use rents
IRS990/OtherRevenueMiscGrp/Desc2Patronage cap credits
IRS990/OtherRevenueMiscGrp/ExclusionAmt01252016
IRS990/OtherRevenueMiscGrp/ExclusionAmt1502044
IRS990/OtherRevenueMiscGrp/ExclusionAmt2152893
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01252016
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1502044
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2152893
IRS990/OtherRevenueTotalAmt01858502
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02952285
IRS990/OtherSalariesAndWagesGrp/TotalAmt02952285
IRS990/OtherSourcesGrossIncomeAmt0685804
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt0253251
IRS990/PayrollTaxesGrp/TotalAmt0253251
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0-1060443
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0-981063
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0786414
IRS990/PensionPlanContributionsGrp/TotalAmt0786414
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt054107
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt036842
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/Desc0Other electric services
IRS990/ProgramServiceRevenueGrp/Desc1Provide electric service
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt063633
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt130680055
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt063633
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt130680055
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt01822172
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt030488
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt027451028
IRS990/PYOtherRevenueAmt02059551
IRS990/PYProgramServiceRevenueAmt032369470
IRS990/PYSalariesCompEmpBnftPaidAmt05186309
IRS990/PYTotalExpensesAmt034459509
IRS990/PYTotalRevenueAmt034459509
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt00
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt04800
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt024183184
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt026219945
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0861000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt052667135
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019929296
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt072596431
IRS990ScheduleD/ExpensesSubtotalAmt032637857
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03168835
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1233984
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21217042
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31139524
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4567576
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accumulated postretirement benefits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Consumer advances for construction
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Customer deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Notes payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4Other current and accrued liabilities
IRS990ScheduleD/RevenueSubtotalAmt032637857
IRS990ScheduleD/TotalBookValueLandBuildingsAmt052667135
IRS990ScheduleD/TotalBookValueProgramRltdAmt014572339
IRS990ScheduleD/TotalExpensesPerForm990Amt032637857
IRS990ScheduleD/TotalLiabilityAmt06326961
IRS990ScheduleD/TotalRevenuePerForm990Amt032637857
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt032637857
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt032637857
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0140306
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt055703
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Carol Hall Fraley
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0196009
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Must be a member to receive electric service. Each member has 1 vote. May have more than 1 service per membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Nominating committee meets every year there is an election to select a member to run for Director. Member may run for director with a petition signed by 75 or more eligible members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Articles of Incorporation can only be changed by a majority vote of the membership. By-Laws may be altered, amended, or repealed by the Board of Directors at any regular or special meeting by a majority vote.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Directors are furnished a draft copy of the Form 990, and review it prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Directors and key employees annually complete a questionnaire on family and business relationships.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt515a. Board of Directors review and approve compensation for key employees and other employees using data provided by state and national organization surveys of electric cooperatives.15b. Majority of compensation is negotiated through a union contract.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Copy of Articles of Incorporation and By-Laws are given to each new member. Financial statements are published annually in magazine distributed to each member. Meeting of members is held on an annual basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Comprehensive income-postretirement ben = $79380
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Margins allocated to members = $2265283
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Memberships issued = $1235
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Other equities = $31825
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Other equities = -$69896
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Refunds of capital credits = -$190451
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Represents patronage capital allocated to members in accordance with the bylaws of the Cooperative. This reporting results in a difference between book income and income reported on the Form 990 by the same amount.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$75,985,062
Liabilities
$50,593,165
Net assets
$25,391,897
Revenue
$32,637,857
Expenses
$32,637,857
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$90.7$49.5$41.1$40.1$40.1$0.00
2023Detailed filing. Detailed filing data is available for this year.$92.6$52.3$40.3$41.1$41.1$0.00
2022Detailed filing. Detailed filing data is available for this year.$94.7$56.4$38.3$43.1$43.1$0.00
2021Detailed filing. Detailed filing data is available for this year.$91.9$58.1$33.8$34.3$34.3$0.00
2020Detailed filing. Detailed filing data is available for this year.$90.3$59.9$30.4$31.1$31.1$0.00
2019Detailed filing. Detailed filing data is available for this year.$82.9$54.3$28.6$32.6$32.6$0.00
2018Detailed filing. Detailed filing data is available for this year.$79.3$52.8$26.5$32.8$32.8$0.00
2017Detailed filing. Detailed filing data is available for this year.$77.3$51.7$25.6$28.2$29.7$1.54
2016Detailed filing. Detailed filing data is available for this year.$77.8$50.9$26.9$32.0$32.0$0.00
2015Detailed filing. Detailed filing data is available for this year.$76.0$50.6$25.4$32.6$32.6$0.00
2014Detailed filing. Detailed filing data is available for this year.$75.1$51.8$23.3$34.5$34.5$0.00
2013Detailed filing. Detailed filing data is available for this year.$72.9$51.4$21.5$34.1$34.1$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$68.4$49.8$18.7$31.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.3$47.9$18.4$31.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$65.2$47.3$17.9$29.5
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