Civic Intelligence

Bartlett Electric Cooperative Inc

990 • Fiscal year 2012 • EIN 74-0501156

Jan 01, 2012 to Dec 31, 2012 • Filed on Sep 01, 2013

Organization ProfileWWW.BARTLETTEC.COOP
PO Box 20076511
Siviq Scores

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

Liabilities / Assets

73rd percentile

0.63x

Higher debt load relative to assets than 73% of similar nonprofits.

2012 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

39th percentile

2.9%

Faster asset growth than 39% of similar nonprofits.

2012 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$54,129,530

Up $1,526,355 (+2.9%) from 2011

Net Assets

Up

$20,059,846

Up $1,335,506 (+7.1%) from 2011

Liabilities

Up

$34,069,684

Up $190,849 (+0.6%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Down

$20,600,488

Down $2,283,378 (-10.0%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$150M$100M$50M$0Assets 2010: $49,924,470Liabilities 2010: $32,686,822Net Assets 2010: $17,237,6482010Assets 2011: $52,603,175Liabilities 2011: $33,878,835Net Assets 2011: $18,724,3402011Assets 2012: $54,129,530Liabilities 2012: $34,069,684Net Assets 2012: $20,059,8462012Assets 2013: $58,463,525Liabilities 2013: $36,722,789Net Assets 2013: $21,740,7362013Assets 2014: $59,968,297Liabilities 2014: $36,609,919Net Assets 2014: $23,358,3782014Assets 2015: $61,096,559Liabilities 2015: $36,234,273Net Assets 2015: $24,862,2862015Assets 2016: $62,083,209Liabilities 2016: $37,531,856Net Assets 2016: $24,551,3532016Assets 2017: $62,859,771Liabilities 2017: $39,582,692Net Assets 2017: $23,277,0792017Assets 2018: $62,732,387Liabilities 2018: $37,509,805Net Assets 2018: $25,222,5822018Assets 2019: $64,977,802Liabilities 2019: $39,730,093Net Assets 2019: $25,247,7092019Assets 2020: $72,654,203Liabilities 2020: $46,618,280Net Assets 2020: $26,035,9232020Assets 2021: $88,566,518Liabilities 2021: $60,751,608Net Assets 2021: $27,814,9102021Assets 2022: $118,957,588Liabilities 2022: $91,134,913Net Assets 2022: $27,822,6752022Assets 2023: $137,805,801Liabilities 2023: $108,335,862Net Assets 2023: $29,469,9392023Assets 2024: $145,371,091Liabilities 2024: $115,451,014Net Assets 2024: $29,920,0772024

Highlighted filing

2012

Assets$54,129,530
Liabilities$34,069,684
Net Assets$20,059,846
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$60M$40M$20M$0-$20MExpenses 2010: $21,918,9322010Revenue 2011: $22,883,866Expenses 2011: $22,883,866Net Income 2011: $02011Expenses 2012: $20,600,4882012Revenue 2013: $21,572,303Expenses 2013: $21,572,303Net Income 2013: $02013Revenue 2014: $24,630,332Expenses 2014: $24,630,332Net Income 2014: $02014Revenue 2015: $22,305,398Expenses 2015: $21,812,060Net Income 2015: $493,3382015Revenue 2016: $19,396,273Expenses 2016: $20,119,863Net Income 2016: -$723,5902016Revenue 2017: $22,135,348Expenses 2017: $21,581,563Net Income 2017: $553,7852017Revenue 2018: $23,979,484Expenses 2018: $23,334,048Net Income 2018: $645,4362018Revenue 2019: $25,679,235Expenses 2019: $24,968,064Net Income 2019: $711,1712019Revenue 2020: $25,111,831Expenses 2020: $24,814,222Net Income 2020: $297,6092020Revenue 2021: $28,050,758Expenses 2021: $27,513,189Net Income 2021: $537,5692021Revenue 2022: $40,795,236Expenses 2022: $40,798,623Net Income 2022: -$3,3872022Revenue 2023: $47,578,193Expenses 2023: $47,729,116Net Income 2023: -$150,9232023Revenue 2024: $47,017,841Expenses 2024: $47,782,057Net Income 2024: -$764,2162024

Highlighted filing

2012

Revenue-
Expenses$20,600,488
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Sep 1, 2013
Return Version
2012v2.1
Gross Receipts
$20,600,488
Mission and Program Overview

Mission

Provide our members with safe and dependable services at reasonable rates, with a commitment to enhancing our members' quality of life.

Filing and Contact Details

Filer

EIN
74-0501156
Raw XML AppendixShowing 400 of 505 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A RURAL SCHOLARSHIP FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR SCHOLARSHIPS TO ENABLE STUDENTS FROM RURAL AREAS TO ATTEND COLLEGE, TECHNICAL SCHOOL OR OTHER POST SECONDARY EDUCATION INSTITUTION. ANY AMOUNTS SO DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ENERGY EFFICIENCY ASSISTANCE FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED TO ASSIST MEMBERS OF AN ELECTRIC COOPERATIVE IN REDUCING THEIR ENERGY CONSUMPTION AND ELECTRICITY BILLS. ANY AMOUNTS SO DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1ON JANUARY 1, 2009, THE COOPERATIVE ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS THEIR FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR 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.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation2PURCHASE DISCOUNT RECORDED IN NON-OPERATING MARGINS RECLASSIFIED TO EXPENSES 768.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation3PURCHASE DISCOUNT RECORDED IN NON-OPERATING MARGINS RECLASSIFIED TO EXPENSES 768.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation4PATRONAGE CAPITAL ASSIGNABLE 1,828,989.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation5Part XIII, 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/Description0CAPITAL TERM CERTIFICATES - CFC
IRS990ScheduleD/InvestmentsProgramRelated/Description1PATRONAGE CAPITAL - CFC
IRS990ScheduleD/InvestmentsProgramRelated/Description2PATRONAGE CAPITAL - TEXAS ELECTRIC COOPERATIVE
IRS990ScheduleD/InvestmentsProgramRelated/Description3PATRONAGE CAPITAL & MEMBERSHIPS - BRAZOS ELECTRIC COOPERATIVE
IRS990ScheduleD/InvestmentsProgramRelated/Description4MEMBERSHIP - CFC
IRS990ScheduleD/InvestmentsProgramRelated/Description5MEMBERSHIP - BRAZOS POWER MARKETING & BRAZOS EWG
IRS990ScheduleD/InvestmentsProgramRelated/Description6OTHER INVESTMENTS
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IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation1C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation2C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation3C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation4C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation5C
IRS990ScheduleD/InvestmentsProgramRelated/MethodOfValuation6C
IRS990ScheduleD/Land/BookValue0173806
IRS990ScheduleD/Land/OtherCostOrOtherBasis0173806
IRS990ScheduleD/OtherExpensesIncluded0768
IRS990ScheduleD/OtherExpensesNotIncluded01828989
IRS990ScheduleD/OtherLandBuildings/BookValue0396292
IRS990ScheduleD/OtherLandBuildings/OtherCostOrOtherBasis0396292
IRS990ScheduleD/OtherLiabilities/Amount0372421
IRS990ScheduleD/OtherLiabilities/Amount1171444
IRS990ScheduleD/OtherLiabilities/Amount2134906
IRS990ScheduleD/OtherLiabilities/Amount3211617
IRS990ScheduleD/OtherLiabilities/Amount4404098
IRS990ScheduleD/OtherLiabilities/Amount5500000
IRS990ScheduleD/OtherLiabilities/Description0CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilities/Description1ACCRUED EMPLOYEE COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilities/Description2DEFERRED CREDITS - CONSUMER ADVANCES AND UNCLAIMED PROPERTY
IRS990ScheduleD/OtherLiabilities/Description3OTHER CURRENT AND ACCRUED LIABILITIES
IRS990ScheduleD/OtherLiabilities/Description4POWER COST ADJUSTMENT OVERCOLLECTED
IRS990ScheduleD/OtherLiabilities/Description5PATRONAGE CAPITAL PAYABLE
IRS990ScheduleD/OtherRevenues0768
IRS990ScheduleD/RevenueNotRptdF9900768
IRS990ScheduleD/RevenueNotRptdOnFinStmt00
IRS990ScheduleD/RevenueSubtotal020600488
IRS990ScheduleD/TotalExpensesPerForm990020600488
IRS990ScheduleD/TotalOfAmounts01794486
IRS990ScheduleD/TotalOfBookValueLandBuildings043150995
IRS990ScheduleD/TotalOfBookValueProgramRelated07465090
IRS990ScheduleD/TotalRevenuePerForm990020600488
IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt018772267
IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt020601256
IRS990ScheduleI/Form990ScheduleIPartIV/Explanation0ALL GRANTS, SPONSORSHIPS AND DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA. ALL DONATIONS ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE.
IRS990ScheduleI/Form990ScheduleIPartIV/Identifier0SCHEDULE I, PART II
IRS990ScheduleI/Form990ScheduleIPartIV/ReturnReference0DONATIONS BY COOPERATIVE
IRS990ScheduleI/RecordsMaintained00
IRS990ScheduleJ/BoardOrCommitteeApproval0X
IRS990ScheduleJ/CompensationCommittee0X
IRS990ScheduleJ/CompensationSurvey0X
IRS990ScheduleJ/EquityBasedCompArrangement00
IRS990ScheduleJ/Form990ScheduleJPartII/BaseCompensationFilingOrg0131507
IRS990ScheduleJ/Form990ScheduleJPartII/BonusFilingOrg0555
IRS990ScheduleJ/Form990ScheduleJPartII/BonusRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompBasedOnRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990FilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg039160
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Part II, Column C INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRYAN LIGHTFOOT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $35,114 401(K) EMPLOYER MATCH 4,046 TOTAL COLUMN C: 39,160 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: ($35,114) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 31,236 TOTAL COOPERATIVE CASH CONTRIBUTION $35,282
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier0Supplemental Information
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0Part III
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0BRYAN LIGHTFOOT
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg018066
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg01186
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/Title0GENERAL MANAGER/CEO
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg0190474
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs00
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
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, AND 4. AMENDMENTS TO THE ARTICLES OF INCORPORATION.
IRS990ScheduleO/GeneralExplanation/Explanation3MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990.
IRS990ScheduleO/GeneralExplanation/Explanation4THE COOPERATIVE'S CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED THROUGH ANNUAL REVIEWS OF THE POLICY BY LEGAL COUNSEL WITH THE BOARD OF DIRECTORS AND MANAGEMENT, THE RECORDINGS IN THE MINUTES OF ALL DISCLOSURES, VOTES, AUTHORIZATIONS, AND OTHER ACTIONS TAKEN UNDER THE POLICY, AND THROUGH EACH OFFICER'S ANNUAL COMPLETION OF THE CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. IF IT IS RECEIVED OR DISCOVERED THAT A DIRECTOR IS NOT IN COMPLIANCE WITH THE POLICY, THE BOARD MUST GIVE THE DIRECTOR AN OPPORTUNITY TO COMMENT ON THE INFORMATION. IF IT IS DETERMINED THAT THE DIRECTOR IS STILL NOT IN COMPLIANCE, THE BOARD MUST GIVE THE DIRECTOR 30 DAYS TO COMPLY BEFORE SANCTIONS, DISQUALIFICATIONS, AND/OR REMOVAL.
IRS990ScheduleO/GeneralExplanation/Explanation5THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER/CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS/CEOS FROM COOPERATIVES LOCATED IN TEXAS AND THE NATION.
IRS990ScheduleO/GeneralExplanation/Explanation6THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. WHEN NEW MEMBERS JOIN THE COOPERATIVE THEY ARE PROVIDED A MEMBERSHIP PACKET THAT INCLUDES A COPY OF THE COOPERATIVE'S BY-LAWS. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ADDITIONALLY, THE COOPERATIVE'S BYLAWS ARE POSTED ON ITS WEBSITE.
IRS990ScheduleO/GeneralExplanation/Explanation7IN 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 3% 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/Explanation8THE BOARD OF DIRECTORS CONSIDERS THE GENERAL MANAGER/CEO TO BE BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL. THEREFORE, ONLY THE GENERAL MANAGER/CEO IS LISTED AS AN EMPLOYEE OFFICER.
IRS990ScheduleO/GeneralExplanation/Explanation9PATRONAGE 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/Explanation10THE 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/Explanation11SALARIES 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 $1,466,171 LESS DIRECTORS FEES REPORTED ON 1099-MISC (93,620) LESS EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (57,226) PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS 696,742 RECONCILIATION TO W-3 $2,012,067
IRS990ScheduleO/GeneralExplanation/Explanation12THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS ADMINISTRATIVE AND GENERAL EXPENSE ON FORM 990, PART IX, LINE 24. OFFICE SUPPLIES AND EXPENSE $130,297 OUTSIDE SERVICES EMPLOYED 41,759 INSURANCE 1,222 MAINTENANCE OF GENERAL PLANT 141,777 REGULATORY COMMISSION EXPENSE 30,948 DUES TO ASSOCIATED ORGANIZATIONS 2,710 GENERAL ADVERTISING EXPENSE 47,743 MISCELLANEOUS GENERAL EXPENSE 196,637 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $593,093
IRS990ScheduleO/GeneralExplanation/Explanation13THE 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 OBLIGATION 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 ARE 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.
IRS990ScheduleO/GeneralExplanation/Explanation14NET CHANGE IN MEMBERSHIPS 6,630. NET UNCLAIMED PATRONAGE CAPITAL RETAINED -113. PATRONAGE CAPITAL ASSIGNABLE 1,828,989. PATRONAGE CAPITAL RETIRED -500,000.
IRS990ScheduleO/GeneralExplanation/Explanation15THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR.
IRS990ScheduleO/GeneralExplanation/Identifier0TO PROVIDE DETAIL REGARDING OFFICER'S OTHER COMPENSATION
IRS990ScheduleO/GeneralExplanation/Identifier1GENERAL MANAGER/CEO RESPONSIBILITIES
IRS990ScheduleO/GeneralExplanation/Identifier2PATRONAGE DIVIDENDS

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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
$54,129,530
Liabilities
$34,069,684
Net assets
$20,059,846
Revenue
-
Expenses
$20,600,488
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$145$115$29.9$47.0$47.8$0.76
2023Summary only. Only limited summary data is available for this year.$138$108$29.5$47.6$47.7$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$119$91.1$27.8$40.8$40.8$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$88.6$60.8$27.8$28.1$27.5$0.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$72.7$46.6$26.0$25.1$24.8$0.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$65.0$39.7$25.2$25.7$25.0$0.71
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$62.7$37.5$25.2$24.0$23.3$0.65
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.9$39.6$23.3$22.1$21.6$0.55
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.1$37.5$24.6$19.4$20.1$0.72
2015Detailed filing. Detailed filing data is available for this year.$61.1$36.2$24.9$22.3$21.8$0.49
2014Detailed filing. Detailed filing data is available for this year.$60.0$36.6$23.4$24.6$24.6$0.00
2013Summary only. Only limited summary data is available for this year.$58.5$36.7$21.7$21.6$21.6$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.1$34.1$20.1$20.6
2011Summary only. Only limited summary data is available for this year.$52.6$33.9$18.7$22.9$22.9$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.9$32.7$17.2$21.9