Civic Intelligence

Harmon Electric Association Inc

990 • Fiscal year 2012 • EIN 73-0274135

Jan 01, 2012 to Dec 31, 2012 • Filed on Nov 13, 2013

Organization ProfileWWW.HARMONELECTRIC.COM
114 N First73550
Siviq Scores

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Balance Sheet

Assets

Flat

$37,734,192

Flat from 2012

Net Assets

Flat

$5,964,627

Flat from 2012

Liabilities

Flat

$31,769,565

Flat from 2012

Revenue And Expenses

Revenue

-

No earlier filing loaded for comparison.

Expenses

Flat

$7,873,995

Flat from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $24,707,623Liabilities 2010: $19,553,295Net Assets 2010: $5,154,3282010Assets 2011: $27,276,356Liabilities 2011: $21,568,939Net Assets 2011: $5,707,4172011Assets 2012: $37,734,192Liabilities 2012: $31,769,565Net Assets 2012: $5,964,6272012Assets 2012: $37,734,192Liabilities 2012: $31,769,565Net Assets 2012: $5,964,6272012Assets 2013: $34,102,881Liabilities 2013: $27,913,620Net Assets 2013: $6,189,2612013Assets 2014: $39,539,686Liabilities 2014: $32,649,811Net Assets 2014: $6,889,8752014Assets 2015: $43,282,540Liabilities 2015: $36,217,633Net Assets 2015: $7,064,9072015Assets 2016: $43,551,948Liabilities 2016: $36,234,260Net Assets 2016: $7,317,6882016Assets 2017: $39,238,928Liabilities 2017: $31,801,994Net Assets 2017: $7,436,9342017Assets 2018: $36,869,398Liabilities 2018: $29,162,352Net Assets 2018: $7,707,0462018Assets 2019: $36,949,988Liabilities 2019: $28,707,056Net Assets 2019: $8,242,9322019Assets 2020: $37,423,214Liabilities 2020: $28,934,950Net Assets 2020: $8,488,2642020Assets 2021: $37,312,602Liabilities 2021: $28,607,466Net Assets 2021: $8,705,1362021Assets 2022: $39,915,847Liabilities 2022: $30,717,481Net Assets 2022: $9,198,3662022Assets 2023: $39,406,521Liabilities 2023: $29,224,516Net Assets 2023: $10,182,0052023Assets 2024: $39,862,441Liabilities 2024: $28,942,419Net Assets 2024: $10,920,0222024

Highlighted filing

2012

Assets$37,734,192
Liabilities$31,769,565
Net Assets$5,964,627
Open 2012 Filing

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $6,865,7252010Expenses 2011: $8,503,5962011Expenses 2012: $7,873,9952012Revenue 2012: $7,873,995Expenses 2012: $7,873,995Net Income 2012: $02012Revenue 2013: $8,489,065Expenses 2013: $8,489,065Net Income 2013: $02013Revenue 2014: $9,554,834Expenses 2014: $9,554,834Net Income 2014: $02014Revenue 2015: $9,507,112Expenses 2015: $9,527,353Net Income 2015: -$20,2412015Revenue 2016: $9,426,527Expenses 2016: $9,331,865Net Income 2016: $94,6622016Revenue 2017: $9,399,372Expenses 2017: $9,893,272Net Income 2017: -$493,9002017Revenue 2018: $9,769,165Expenses 2018: $9,769,165Net Income 2018: $02018Revenue 2019: $9,796,118Expenses 2019: $9,819,562Net Income 2019: -$23,4442019Revenue 2020: $9,747,032Expenses 2020: $9,513,630Net Income 2020: $233,4022020Revenue 2021: $10,529,498Expenses 2021: $10,521,239Net Income 2021: $8,2592021Revenue 2022: $12,240,511Expenses 2022: $12,279,889Net Income 2022: -$39,3782022Revenue 2023: $12,134,604Expenses 2023: $12,130,134Net Income 2023: $4,4702023Revenue 2024: $12,383,574Expenses 2024: $12,362,235Net Income 2024: $21,3392024

Highlighted filing

2012

Revenue-
Expenses$7,873,995
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Nov 13, 2013
Return Version
2012v2.1
Gross Receipts
$7,881,947
Mission and Program Overview

Mission

The cooperative's responsibility and aim is to provide excellent and innovative customer service as reflected in top quality electric service reliability, affordable rates, employee teamwork and the highest degree of integrity in all cooperative endeavers.

Filing and Contact Details

Filer

EIN
73-0274135
Raw XML AppendixShowing 400 of 515 raw XML fields

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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0ON JANUARY 1, 2009, THE ASSOCIATION ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE ASSOCIATION IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE ASSOCIATION DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES.
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation3Part IX THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5 PERCENT OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY IN ACCORDANCE WITH IRS INSTRUCTIONS SCHEDULE D, PART IX HAS BEEN LEFT BLANK. Part XII, Line 4B FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS.
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IRS990ScheduleD/InvestmentsProgramRelated/Description1PATRONAGE CAPITAL - WESTERN FARMERS ELECTRIC COOPERATIVE, INC.
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IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt07451452
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt07708667
IRS990ScheduleJ/BoardOrCommitteeApproval0X
IRS990ScheduleJ/CompensationSurvey0X
IRS990ScheduleJ/EquityBasedCompArrangement00
IRS990ScheduleJ/Form990ScheduleJPartII/BaseCompensationFilingOrg0120750
IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/BonusRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990FilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg037704
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0CHARLES PAXTON
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg019826
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg02838
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/Title0GENERAL MANAGER
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg0181118
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction03732302
IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction1227305
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0THE COOPERATIVE PURCHASES ELECTRIC POWER AND VARIOUS SUPPLIES FROM WESTERN FARMERS ELECTRIC COOPERATIVE (WFEC).
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction1FARMERS COOPERATIVE OF ELDORADO PURCHASES ELECTRICITY FROM THE COOPERATIVE.
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NameBusiness/BusinessNameLine10WESTERN FARMERS ELECTRIC COOPERATIVE (WFEC)
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NameBusiness/BusinessNameLine11FARMERS COOPERATIVE OF ELDORADO
IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0DIRECTOR B.S. ALLEN SERVES ON WESTERN FARMERS'BOARD OF DIRECTORS
IRS990ScheduleL/Form990ScheduleLPartIV/Relationship1DIRECTOR BURK BULLINGTON IS A BOARD MEMBER ON FARMERS COOPERTIVE'S BOARD
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues00
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues10
IRS990ScheduleO/GeneralExplanation/Explanation0THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS.
IRS990ScheduleO/GeneralExplanation/Explanation1THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE. 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE. 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION. 3. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS.
IRS990ScheduleO/GeneralExplanation/Explanation3FROM TIME TO TIME THE ENTIRE BOARD WILL GO INTO EXECUTIVE SESSION FOR DISCUSSING ITEMS OF A SENSITIVE AND CONFIDENTIAL NATURE. WHEN THIS OCCURS MANAGEMENT AND OTHERS IN ATTENDANCE ARE REMOVED FROM THE MEETING ROOM. ITEMS DISCUSSED IN EXECUTIVE SESSION ARE NOT DOCUMENTED. HOWEVER, ACTIONS TAKEN BY THE BOARD AFTER EXECUTIVE SESSIONS ARE ADJOURNED ARE FULLY DOCUMENTED IN THE WRITTEN MINUTES.
IRS990ScheduleO/GeneralExplanation/Explanation4MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation5THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN OKLAHOMA AND THE NATION. THE BOARD AND THE GENERAL MANAGER USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN OKLAHOMA AND THE NATION.
IRS990ScheduleO/GeneralExplanation/Explanation6THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE IN THE ANNUAL REPORT. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY.
IRS990ScheduleO/GeneralExplanation/Explanation7BOBBY SCOTT ALLEN PER IRS FORM 990 INSTRUCTIONS IS NOT AN INDEPENDENT DIRECTOR BECAUSE HE IS ON THE BOARD OF WESTERN FARMERS ELECTRIC COOPERATIVE, INC.(WFEC), A TAXABLE COOPERATIVE. THE COOPERATIVE PURCHASES ITS ELECTRIC ENERGY FROM WFEC AND THE COOPERATIVE IS A MEMBER OF WFEC. AS SUCH, MR. ALLEN IS THE COOPERATIVE'S REPRESENTATIVE ON WFEC'S BOARD. MR. ALLEN HAS NO OWNERSHIP INTEREST IN WFEC AND RECEIVES NO DIRECT OR INDIRECT BENEFIT FROM THE COOPERATIVE DOING BUSINESS WITH WFEC. BURK BULLINGTON PER IRS FORM 990 INSTRUCTIONS IS NOT AN INDEPENDENT DIRECTOR BECAUSE HE IS ON THE BOARD OF FARMERS COOPERATIVE OF ELDORADO, A TAXABLE COOPERATIVE. FARMERS COOPERATIVE OF ELDORADO PURCHASES ITS ELECTRIC ENERGY FROM THE COOPERATIVE.
IRS990ScheduleO/GeneralExplanation/Explanation8IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. AS PART OF THE PLAN DOCUMENT, THE COOPERATIVE PROVIDES A MATCHING CONTRIBUTION UP TO 1% OF A PARTICIPATING EMPLOYEE'S SALARY. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER IS COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN FOR THE OFFICER, THE TOTAL AMOUNT CONTRIBUTED TO THE 401(K) PENSION PLAN AND THE INSURANCE PREMIUMS PAID FOR THE BENEFIT OF THE OFFICER.
IRS990ScheduleO/GeneralExplanation/Explanation9THE BOARD OF DIRECTORS CONSIDERS THE GENERAL MANAGER TO BE BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL. THEREFORE, ONLY THE GENERAL MANAGER IS LISTED AS AN EMPLOYEE OFFICER.
IRS990ScheduleO/GeneralExplanation/Explanation10PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS.
IRS990ScheduleO/GeneralExplanation/Explanation11THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES MODIFIED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICE(RUS). THE UNIFORM SYSTEM OF ACCOUNTING DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1 - 23. THE COOPERATIVE WILL BREAK OUT SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1 - 23 WILL BE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE UNIFORM SYSTEM OF ACCOUNTS.
IRS990ScheduleO/GeneralExplanation/Explanation12SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. IN AN EFFORT TO EXPLAIN WHY THE AMOUNTS REPORTED ON LINES 5-7 DO NOT AGREE TO THE W-3 THE FOLLOWING RECONCILIATION IS PROVIDED. TOTAL PER LINES 5-7 $866,705 LESS DIRECTORS FEES REPORTED ON 1099-MISC (15,500) LESS EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (57,530) PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS 460,153 PLUS SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGINS 25,358 RECONCILIATION TO W-3 $1,279,186
IRS990ScheduleO/GeneralExplanation/Explanation13THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS ADMINISTRATIVE AND GENERAL EXPENSE ON FORM 990, PART IX, LINE 24. OUTSIDE SERVICES EMPLOYED $46,672 OFFICE SUPPLIES AND EXPENSE 69,346 GENERAL ADVERTISING EXPENSE 2,459 OTHER INSURANCE 2,142 TRUSTEE'S EXPENSES 23,137 ANNUAL MEETING EXPENSE 21,810 DUES TO ASSOCIATED ORGANIZATIONS 22,763 MAINTENANCE OF GENERAL PLANT 1,557 MISCELLANEOUS GENERAL EXPENSE 123,660 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $313,546
IRS990ScheduleO/GeneralExplanation/Explanation14THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS OTHER EXPENSES ON FORM 990, PART IX, LINE 24E. WATER DIVISION OPERATING EXPENSES $93,104 MANAGEMENT CONTRACT EXPENSES 58,023 SALES EXPENSE 20,073 OTHER DEDUCTIONS 10,014 TOTAL OTHER EXPENSES PER FORM 990 LINE 24E $181,214
IRS990ScheduleO/GeneralExplanation/Explanation15THE FORM 990 INSTRUCTIONS SPECIFICALLY STATE THAT THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS MEMBERS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS MEMBERS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS MEMBERS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR MEMBERS, AND (3) IN A FAIR AND EQUITABLE BASIS ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS AND IS SUMMARIZED AS FOLLOWS: (A) IN ORDER TO INDUCE PATRONAGE AND TO ASSURE THAT THE COOPERATIVE WILL OPERATE ON A NONPROFIT BASIS, THE COOPERATIVE IS OBLIGATED TO ACCOUNT ON A PATRONAGE BASIS TO ALL ITS MEMBERS FOR ALL AMOUNTS RECEIVED AND RECEIVABLE FROM THE FURNISHING OF ELECTRIC ENERGY IN EXCESS OF OPERATING COSTS AND EXPENSES PROPERLY CHARGEABLE AGAINST SUCH SERVICES (I.E. MARGINS FROM THE PROVISION OF ELECTRIC ENERGY). (B) THE MARGINS FROM THE PROVISION OF ELECTRIC ENERGY ARE RECEIVED WITH THE UNDERSTANDING THAT THEY ARE FURNISHED BY THE MEMBERS AS CAPITAL. (C) THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH MEMBER FOR ALL SUCH MARGINS. AND (D) ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY MEMBER SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE MEMBER IN CASH IN PURSUANCE OF A LEGAL OBLIGATION TO DO SO AND THE MEMBER HAD THEN FURNISHED TO THE COOPERATIVE CORRESPONDING AMOUNTS OF CAPITAL. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2012 CALENDAR YEAR. AS NOTED ABOVE, SUCH AMOUNTS ARE ALLOCATED SUBSEQUENT TO YEAR-END IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). THE AMOUNTS ALLOCATED ARE REPRESENTATIVE OF THE MARGINS FROM THE PROVISION OF ELECTRIC ENERGY TO THE MEMBERS AND ARE DONE PURSUANT TO THE OLBIGATION THAT EXISTED IN THE BYLAWS PRIOR TO THE COOPERATIVE PROVIDING ELECTRICITY TO ITS MEMBERS. THEREFORE, THESE AMOUNTS MEET THE DEFINITION OF THE TERM "PATRONAGE DIVIDENDS PAID". PLEASE NOTE, HOWEVER, THAT BECAUSE PATRONAGE DIVIDENDS IS THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS MEMBERS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED THE AMOUNT OF ITS 2012 MARGIN THAT HAS BEEN OR IS TO BE ALLOCATED TO THE MEMBERS SUBSEQUENT TO YEAR-END. SUCH AMOUNTS ARE AN EXPENSE FOR FORM 990 REPORTING AND IS NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. AS A RESULT, THE DIFFERENCE BETWEEN THE COOPERATIVE'S GAAP BASIS FINANCIAL STATEMENTS AND THE REVENUE LESS EXPENSES REPORTED ON PART I, LINE 19 IS THE AMOUNT OF PATRONAGE DIVIDENDS REPORTED AS BENEFITS PAID TO MEMBERS.

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Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$37,734,192
Liabilities
$31,769,565
Net assets
$5,964,627
Revenue
-
Expenses
$7,873,995
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.9$28.9$10.9$12.4$12.4$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.4$29.2$10.2$12.1$12.1$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.9$30.7$9.20$12.2$12.3$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.3$28.6$8.71$10.5$10.5$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.4$28.9$8.49$9.75$9.51$0.23
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.9$28.7$8.24$9.80$9.82$0.02
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.9$29.2$7.71$9.77$9.77$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.2$31.8$7.44$9.40$9.89$0.49
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.6$36.2$7.32$9.43$9.33$0.09
2015Detailed filing. Detailed filing data is available for this year.$43.3$36.2$7.06$9.51$9.53$0.02
2014Detailed filing. Detailed filing data is available for this year.$39.5$32.6$6.89$9.55$9.55$0.00
2013Detailed filing. Detailed filing data is available for this year.$34.1$27.9$6.19$8.49$8.49$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.7$31.8$5.96$7.87
2012Summary only. Only limited summary data is available for this year.$37.7$31.8$5.96$7.87$7.87$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$21.6$5.71$8.50
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.7$19.6$5.15$6.87