2024-11-14T12:30:20-06:00 2023-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2023-01-01 590472323 Suwannee Valley Electric Cooperative SUWA 3863622226 PO Box 160 Live Oak FL 320640160 Michael S McWaters CEO 3863622226 2024-11-13 1 1 Patrick Cooper P00856177 3348347660 2024-11-13 2023 2024-10-15 13:58:12Z Michael S McWaters PO Box 160 Live Oak FL 320640160 69973159 0 X www.svec-coop.com X 1937 FL The Cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the Suwannee River Valley. 9 9 94 0 436334 0 0 0 76023097 70234881 41095 338078 106064 -610956 76170256 69962003 0 0 1719717 1032254 1273222 1280298 0 0 0 73177317 67649451 76170256 69962003 0 0 150357185 261730501 87972097 199100725 62385088 62629776 The Cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the Suwannee River Valley. 0 0 Suwannee Valley Electric Coop provides electric service to over 20,000 members in 4 counties in the state of Florida. 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 82 0 1 94 1 1 1 0 0 0 0 0 0 69266284 1626970 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X Christine Moor 3863305651 11340 100th Street Live Oak FL 32060 Jerry Goff Vice President 1.60 X 6500 0 0 Cynthia Boyette Secretary 1.00 X 9500 0 0 Sidney Lord Director/Trustee 0.90 X 5500 0 0 Hugh Hunter Director/Trustee 1.00 X 7750 0 0 Tyler Putnal Director/Trustee 2.40 X X 9500 0 0 Laure Bee Roberson III Director/Trustee 1.00 X X 7250 0 0 Charles Walker Treasurer 3.70 X X 9250 0 0 Michael Adams President 1.00 X X 6750 0 0 Francene Folsom Director/Trustee 1.40 X 8750 0 0 Mike McWaters CEO 50.00 X 310312 0 179441 Christine Moor CFO 45.00 X 144160 0 26287 Kurt Miller Director of Engineering 40.00 X 195598 0 98807 Mark Mosley Director of Safety 50.00 X 178751 0 76192 John Robinson Director of Member Service 44.00 X 140372 0 47647 Crystal Ecker General Counsel 45.00 X 124693 0 13947 Jodi Hughes Journeyman Lineman 62.00 X 132300 0 32463 Hunter Ash Journeyman Lineman 55.00 X 118979 0 28751 Trevor Touchton Manager of Power Technical 45.00 X 130401 0 34803 1546316 0 538338 25 0 1 0 Musgrove Construction Inc 8708 US HWY 90 Live Oak FL 32060 Distribution Contractor 10795592 Bryant Tree Service 9368 132nd Ter Live Oak FL 32060 ROW Cutting 3884486 Bigham Cable Construction Inc 3171 Gulf Breeze Pky Gulf Breeze FL 32563 Fiber Construction Contractor 3395972 Lee Electrical Construction 12828 Hwy 15 501 S Aberdeen NC 28315 Distribution Contractor 1563376 Conexon 2001 Grand Blvd STE 700 Kansas City MO 64108 Fiber Project Manager 1287556 17 Electricity Sales 221000 68959301 68959301 Patronage Dividends 221000 1067440 1067440 Consumer Service Fees 221000 208140 208140 70234881 177462 129351 48111 430421 7997 422424 422424 115441 306983 160616 0 160616 160616 160616 10771 3159 7612 7612 Misc Non-Operating Inc 221000 5700 5700 Loss from Subsidiary 221000 -1046692 -1046692 -1040992 69962003 69311242 436334 214427 X 1032254 1280298 2302029 6148525 Cost of Power 42532630 Distribution - Maintena 8356537 Administrative & Genera 3689774 Distribution - Operatio 2667355 1952601 69962003 403480 0 5602791 58946722 3832076 11274035 394110 13459013 196028681 66057984 118432902 129970697 17775912 17795097 3915914 30284937 150357185 261730501 17614477 112518388 68307893 77094958 2049727 9487379 87972097 199100725 X 106070 107360 0 0 62279018 62522416 62385088 62629776 150357185 261730501 X 0 244688 X 0 1 X 0 0 703502 703502 5429064 3147647 2281417 189896115 62910337 126985778 129970697 Patronage Capital from Associated Coop 17263682 C Investments CFC CTC & MCS 942901 C Investment in Federated Insurance 537047 C Investment Homestead Deferred Compensation 130210 F Other Investments in Associated Organizations 23292 C Investment in Subsidiary -1102035 C 17795097 Intangible Assets 28403734 Other Assets 1881203 30284937 Consumer Deposits 1698558 Deferred Credits 7736373 Capital Credit Clearing -1110 CIAC Undistributed - Oak Ridge Sub 53419 Accrued Sales Taxes 139 9487379 X Part X, Line 2: Management has evaluated the Cooperative's tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. X X X X 0 0 0 Mike McWaters CEO 310312 0 0 0 0 0 147993 0 31448 0 489753 0 0 0 Kurt Miller Director of Engineering 195598 0 0 0 0 0 75393 0 23414 0 294405 0 0 0 Mark Mosley Director of Safety 178751 0 0 0 0 0 64769 0 11423 0 254943 0 0 0 John Robinson Director of Member Service 140372 0 0 0 0 0 44248 0 3399 0 188019 0 0 0 Christine Moor CFO 144160 0 0 0 0 0 17012 0 9275 0 170447 0 0 0 Trevor Touchton Manager of Power Technical 130401 0 0 0 0 0 13675 0 21128 0 165204 0 0 0 Jodi Hughes Journeyman Lineman 132300 0 0 0 0 0 21971 0 10492 0 164763 0 0 0 Form 990, Part VI, Section A, line 6 The cooperative was formed by the members to provide electric service at cost on a cooperative basis. Form 990, Part VI, Section A, line 7a The members of the cooperative vote on the board of directors. Elections are done on a one member one vote basis. Form 990, Part VI, Section A, line 7b The membership must approve/vote on: 1. Election/removal of a new officer 2. Bylaw changes 3. Dissolution or a sale of a substantial portion of assets Form 990, Part VI, Section A, line 8b From 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. Form 990, Part VI, Section B, line 11b After the draft has been prepared by an independent audit firm, a copy of the Form 990 is sent to the CFO and CEO and presented at the next board meeting. Specific sections of the 990 may be highlighted through a PowerPoint by the CFO at the meeting, but the entire report is available for review to all trustees. After approval at the board meeting, it is filed with the IRS. Form 990, Part VI, Section B, line 12c Board members review and sign the conflict of interest form annually at the September board meeting. Officers, Key Employees, Purchasing Coordinator and Fleet Supervisor also review and sign the form annually. Form 990, Part VI, Section B, line 15a The General Counsel and Director of Administrative Services sends out the performance evaluation form to all trustees which they then complete and return to her. Once all forms are collected, she gives them to the board president along with the job wage comparison data acquired from the Wage Compensation Consultant. The board to go into executive session where they decide on CEO's raise. The Board President then notifies General Counsel and Director of Administrative Services what the raise will be. She then types it up, has President sign and files it in CEO Personnel File. Form 990, Part VI, Section C, line 19 The bylaws are available on both the website and at the office upon request. All other documents and financial statements are available to the membership upon request. Form 990, Part IX, Line 4 The instructions to the Form 990 indicate that organizations exempt under Section 501 (c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. Suwannee Valley Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Suwannee Valley Electric Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year. Form 990, Part XI, line 9: Change in Memberships 1,290. Retirements -1,184,543. Unclaimed patronage reassigned 321,520. Other comprehensive income 1,630. Assignment of net margins to members 1,032,254. Capital Credit Gains 72,537. Suwannee Valley Electric Cooperative Foundation Inc 11340 100th Street Live Oak FL 32060 830827107 Provides financial assistance FL 501(c)(3) Line 7 N/A 0 Rapid Fiber Internet LLC 11340 100th St Suite B Live Oak FL 32060 920724017 Internet Service Provider FL Suwannee Valley Electric Cooperative C 34655 3281400 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 Rapid Fiber Internet LLC Q 2414410 Cash Suwannee Valley Electric Cooperative Foundation Inc R 109433 Cash - Operation Round-up