TWIN LAKES TELEPHONE COOPERATIVE CORPORATION: Form 990, tax year 2023
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- Organization
- TWIN LAKES TELEPHONE COOPERATIVE CORPORATION (EIN 62-0517180)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-30
- IRS object ID
- 202413049349303201
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-30T19:40:18-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 910189318 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MOSS ADAMS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 W RIVERSIDE AVENUE STE 1800 | AddressLine1Txt |
| City | SPOKANE | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 99201 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 620517180 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TWIN LAKES TELEPHONE COOPERATIVE CORP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TWIN | BusinessNameControlTxt |
| Phone | 9318582151 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 67 | AddressLine1Txt |
| City | GAINESBORO | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38562 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOANNA WILLIAMS | PersonNm |
| Person Title | CHIEF FINANCIAL OFFICER | PersonTitleTxt |
| Phone | 9318582151 | PhoneNum |
| Signature | 2024-10-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHERI R BURNHAM CPA | PreparerPersonNm |
| PTIN | P00055324 | PTIN |
| Phone | 5097472600 | PhoneNum |
| Preparation | 2024-10-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JONATHAN WEST | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 67 | AddressLine1Txt |
| City | GAINESBORO | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38562 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $73,685,555 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TWINLAKES.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1951 | FormationYr |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE TELECOMMUNICATION SERVICES TO COOPERATIVE MEMBERS IN RURAL AREAS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 126 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $60,900,207 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $65,378,454 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$215,107 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,973,495 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,862,743 | PYOtherRevenueAmt |
| CY Other Revenue | $3,163,362 | CYOtherRevenueAmt |
| PY Total Revenue | $63,547,843 | PYTotalRevenueAmt |
| CY Total Revenue | $70,515,311 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $11,045,000 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $12,475,373 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,124,282 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,591,914 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $45,563,347 | PYOtherExpensesAmt |
| CY Other Expenses | $50,210,378 | CYOtherExpensesAmt |
| PY Total Expenses | $60,732,629 | PYTotalExpensesAmt |
| CY Total Expenses | $67,277,665 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,815,214 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,237,646 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $193,085,121 | TotalAssetsBOYAmt |
| Total Assets EOY | $217,571,384 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $58,248,197 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $52,337,032 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $134,836,924 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $165,234,352 | NetAssetsOrFundBalancesEOYAmt |
| Mission | IT SHALL BE THE AIM OF TWIN LAKES TELEPHONE COOPERATIVE CORPORATION TO PROVIDE DEPENDABLE AREA WIDE TELEPHONE SERVICE ON THE COOPERATIVE PLAN AND AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | TWIN LAKES TELEPHONE COOPERATIVE CORP. PROVIDED A VARIETY OF TELECOMMUNICATION SERVICES TO ITS MEMBERS WHO WERE LOCATED IN ITS SERVICE AREA. THESE SERVICES INCLUDED TELEPHONE SERVICE, INTERNET ACCESS, HIGH SPEED DATA SERVICES, SPECIAL CALLING FEATURES, AND VOICE MAIL. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 164 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 126 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $35,300,878 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $4,817,685 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | TN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOANNA WILLIAMS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9312682151 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1003 S GRUNDY QUARLES HWY | AddressLine1Txt |
| City | GAINESBORO | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38562 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| LARRY J STAFFORD | |||||||
| DIRECTOR | 15.00 | Yes (X) | $42,001 | $0 | $0 | ||
| DOUGLAS G ELDER | |||||||
| DIRECTOR/VICE-PRESIDENT | 18.00 | Yes (X) | $41,601 | $0 | $0 | Yes (X) | |
| GREGORY H BROWN | |||||||
| DIRECTOR | 15.00 | Yes (X) | $40,401 | $0 | $0 | ||
| KENT J BROWN | |||||||
| DIRECTOR/SECRETARY/TREASURER | 15.00 | Yes (X) | $24,137 | $0 | $0 | Yes (X) | |
| MARIE CARLISLE | |||||||
| DIRECTOR | 18.00 | Yes (X) | $32,137 | $0 | $0 | ||
| KEM W CROUCH | |||||||
| DIRECTOR | 16.00 | Yes (X) | $42,801 | $0 | $0 | ||
| GARY E FLYNN | |||||||
| DIRECTOR | 15.00 | Yes (X) | $37,026 | $0 | $0 | ||
| GAIL MYERS | |||||||
| DIRECTOR/PRESIDENT | 20.00 | Yes (X) | $42,801 | $0 | $0 | Yes (X) | |
| JAMES D STORIE | |||||||
| DIRECTOR | 18.00 | Yes (X) | $33,737 | $0 | $0 | ||
| KAREN PETTY | |||||||
| DIRECTOR | 15.00 | Yes (X) | $45,455 | $0 | $0 | ||
| CHRIS FARMER | |||||||
| DIRECTOR | 20.00 | Yes (X) | $40,961 | $0 | $0 | ||
| JONATHAN WEST | |||||||
| GENERAL MANAGER/CEO | 55.00 | $454,004 | $0 | $52,407 | Yes (X) | ||
| JOANNA WILLIAMS | |||||||
| CHIEF FINANCIAL OFFICER | 50.00 | $119,071 | $0 | $42,414 | Yes (X) | ||
| CHAD R DILLON | |||||||
| CHIEF OPERATION OFFICER | 50.00 | $171,900 | $0 | $25,290 | Yes (X) | ||
| CHARLES SHANE HEUPEL | |||||||
| CHIEF TECHNOLOGY OFFICER | 50.00 | $138,346 | $0 | $40,227 | Yes (X) | ||
| JAMIE MEADOWS | |||||||
| CUSTOMER SERVICE MANAGER | 48.00 | $115,623 | $0 | $41,773 | Yes (X) | ||
| LAURA GORE | |||||||
| MARKETING & SALES MANAGER | 48.50 | $115,502 | $0 | $28,024 | Yes (X) | ||
| MELISSA PHILLIPS | |||||||
| HUMAN AND OFFICE RESOURCES MANAGER | 48.00 | $117,075 | $0 | $19,810 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,654,579 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $249,945 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 39 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| RED STAG CONTRACTORS LLC | |||||
| 358 5TH AVENUE S | BAXTER | TN | 38544 | CONSTRUCTION | $6,518,404 |
| KING CONSTRUCTION GROUP INC | |||||
| PO BOX 831 | LAWRENCEVILLE | GA | 30046 | CONSTRUCTION | $2,194,988 |
| LADD ENGINEERING ASSOCIATES INC | |||||
| PO BOX 680747 | FORT PAYNE | AL | 359680747 | CONSULTING/ENGINEERING | $1,501,997 |
| W A KENDALL & COMPANY LLC | |||||
| PO BOX 831 | LAWRENCEVILLE | GA | 30046 | RIGHT OF WAY | $1,229,351 |
| A & C COMMUNICATIONS CORP | |||||
| 1118 GARRETT CREEK RD | BURKESVILLE | KY | 42717 | CONSTRUCTION | $1,112,553 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 24 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| WIRELINE | 517000 | $36,355,323 | $36,355,323 | |
| BROADBAND | 517000 | $25,645,345 | $25,645,345 | |
| MISCELLANEOUS | 517000 | $3,332,874 | $3,332,874 | |
| POLE RENTAL | 517000 | $44,912 | $44,912 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $65,378,454 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,487,223 | TotalRevenueColumnAmt |
| Exclusion | $1,487,223 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,656,516 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,170,244 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $486,272 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $486,272 | TotalRevenueColumnAmt |
| Exclusion | $486,272 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SUBSIDIARY INCOME | 517000 | $2,841,976 | $2,841,976 |
| INCOME - T.I.T.G | 517000 | $321,386 | $321,386 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $3,163,362 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $70,515,311 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $68,496,904 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,018,407 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,475,373 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,194,626 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,397,288 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $432,162 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,152,367 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,416,291 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| BROADBAND | $13,944,348 |
| PLANT SPECIFIC | $12,315,962 |
| PLANT NONSPECIFIC | $3,636,874 |
| CUSTOMER | $3,002,923 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,309,451 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,277,665 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,254,241 | BOYAmt |
| EOY | $21,639,779 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,993,801 | BOYAmt |
| EOY | $11,093,595 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,657,733 | BOYAmt |
| EOY | $10,033,405 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,000 | BOYAmt |
| EOY | $6,360,010 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,162,828 | BOYAmt |
| EOY | $6,254,693 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,036,419 | BOYAmt |
| EOY | $949,575 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $270,838,511 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $166,966,124 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,115,107 | BOYAmt |
| EOY | $103,872,387 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,461,791 | BOYAmt |
| EOY | $14,370,150 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $386,834 | BOYAmt |
| EOY | $408,798 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,308,792 | BOYAmt |
| EOY | $22,705,867 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,956,797 | BOYAmt |
| EOY | $3,956,797 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,700,778 | BOYAmt |
| EOY | $15,926,328 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $193,085,121 | BOYAmt |
| EOY | $217,571,384 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,448,673 | BOYAmt |
| EOY | $4,834,554 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,073,868 | BOYAmt |
| EOY | $954,690 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,894,046 | BOYAmt |
| EOY | $41,402,182 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,831,610 | BOYAmt |
| EOY | $5,145,606 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,248,197 | BOYAmt |
| EOY | $52,337,032 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $913,480 | BOYAmt |
| EOY | $921,420 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $133,923,444 | BOYAmt |
| EOY | $164,312,932 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $134,836,924 | BOYAmt |
| EOY | $165,234,352 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $193,085,121 | BOYAmt |
| EOY | $217,571,384 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,237,646 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $27,159,782 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,642,992 | OtherCostOrOtherBasisAmt |
| Book Value | $1,642,992 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,412,812 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,764,823 | DepreciationAmt |
| Book Value | $4,647,989 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $258,782,707 | OtherCostOrOtherBasisAmt |
| Depreciation | $161,201,301 | DepreciationAmt |
| Book Value | $97,581,406 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $103,872,387 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN AFFILIATED COMPANIES | Desc |
| Book Value | $22,705,867 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $22,705,867 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (5 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| OTHER POST-RETIREMENT BENEFITS | $2,601,342 |
| OTHER ASSETS | $19,910 |
| PLANT UNDER CONSTRUCTION | $1,929,943 |
| ROU ASSETS | $153,785 |
| POST RETIREMENT BENEFIT OBLIGATION | $11,221,348 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $15,926,328 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CUSTOMER DEPOSITS | $4,995,369 |
| LEASE LIABILITY | $150,237 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $5,145,606 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AS MORE THAN 85% OF ITS REVENUE COMES FROM MEMBERS. THE SUBSIDIARIES ARE TAXABLE ENTITIES UNDER THE FEDERAL AND TENNESSEE STATE TAX CODES. DEFERRED TAXES ARE PROVIDED ON A LIABILITY METHOD WHEREBY DEFERRED TAX ASSETS ARE RECOGNIZED FOR DEDUCTIBLE TEMPORARY DIFFERENCES AND DEFERRED TAX LIABILITIES ARE RECOGNIZED FOR TAXABLE TEMPORARY DIFFERENCES. TEMPORARY DIFFERENCES ARE THE DIFFERENCES BETWEEN THE REPORTED AMOUNTS OF ASSETS AND LIABILITIES AND THEIR TAX BASES. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. DEFERRED TAX ASSETS AND LIABILITIES ARE ADJUSTED FOR THE EFFECTS OF CHANGES IN TAX LAWS AND RATES ON THE DATE OF ENACTMENT. THE COOPERATIVE RECORDS UNCERTAIN TAX POSITIONS IF THE LIKELIHOOD THE POSITION WILL BE SUSTAINED UPON EXAMINATION IS LESS THAN 50%. AS OF DECEMBER 31, 2023 AND 2022, THE COOPERATIVE HAD NO ACCRUED AMOUNTS RELATED TO UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE RECORDED AS INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (5 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JONATHAN WEST | ||||||||||||||
| GENERAL MANAGER/CEO | $387,857 | $0 | $62,072 | $0 | $4,075 | $0 | $18,939 | $0 | $33,468 | $0 | $506,411 | $0 | $0 | $0 |
| CHAD R DILLON | ||||||||||||||
| CHIEF OPERATION OFFICER | $161,467 | $0 | $5,005 | $0 | $5,428 | $0 | $10,999 | $0 | $14,291 | $0 | $197,190 | $0 | $0 | $0 |
| CHARLES SHANE HEUPEL | ||||||||||||||
| CHIEF TECHNOLOGY OFFICER | $130,832 | $0 | $4,560 | $0 | $2,954 | $0 | $7,611 | $0 | $32,616 | $0 | $178,573 | $0 | $0 | $0 |
| JOANNA WILLIAMS | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $114,615 | $0 | $4,088 | $0 | $368 | $0 | $9,889 | $0 | $32,525 | $0 | $161,485 | $0 | $0 | $0 |
| JAMIE MEADOWS | ||||||||||||||
| CUSTOMER SERVICE MANAGER | $110,976 | $0 | $4,173 | $0 | $474 | $0 | $9,236 | $0 | $32,537 | $0 | $157,396 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | TWIN LAKES TELEPHONE COOPERATIVE CORP. IS A NOT-FOR-PROFIT MEMBERSHIP ORGANIZATION WHOSE MEMBERS HAVE IDENTICAL VOTING RIGHTS AND ARE ASSIGNED MARGINS IN ACCORDANCE WITH THE COOPERATIVE'S BYLAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | EACH YEAR, THE MEMBERS ELECT THE GOVERNING BODY (BOARD OF DIRECTORS) AT THE ANNUAL MEETING. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE MEMBERSHIP MUST APPROVE DECISIONS THAT INVOLVE SUBSTANTIAL TRANSFERS OF COOPERATIVE ASSETS, AMENDMENTS TO THE COOPERATIVE'S BYLAWS, AS WELL AS OTHER DECISIONS REQUIRING APPROVAL OF THE MEMBERSHIP BY LAW, THE CHARTER OF INCORPORATION, AND/OR THE COOPERATIVE'S BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE GENERAL MANAGER/CEO AND CHIEF FINANCIAL OFFICER REVIEWED A COMPLETED COPY OF THE FORM 990 BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE. A COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS AT A BOARD MEETING PRIOR TO IT BEING FILED WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE GENERAL MANAGER/CEO IS RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. IF A CONFLICT OF INTEREST WERE TO ARISE, IT MUST BE IMMEDIATELY REPORTED TO THE GENERAL MANAGER/CEO. THE CONFLICTING PARTY ABSTAINS FROM VOTING ON THE MATTER. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS REVIEWS THE PERFORMANCE OF MANAGEMENT EMPLOYEES ON AN ANNUAL BASIS AND DETERMINES THE COMPENSATION FOR THOSE EMPLOYEES FOR THE COMING YEAR. DATA FROM THE NTCA YEARLY COMPENSATION SURVEY IS CONSIDERED BY THE BOARD WHEN DETERMINING EMPLOYEE COMPENSATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS AND POLICIES ARE PROVIDED WITH THE MEMBERSHIP CERTIFICATE. FINANCIAL STATEMENTS ARE INCLUDED IN PRINT FORM AS AN INSERT IN TELEPHONE BILLS. ALL DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN MEMBERSHIPS 7,940. OTHER COMPREHENSIVE INCOME 14,750,753. NET MARGINS ASSIGNED TO MEMBERS 12,475,373. BOOK TO TAX ADJUSTMENT FOR PASSTHROUGH ENTITY -74,284. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FOURSIGHT COMMUNICATIONS LLC DBA TRILIGHT | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2748 | AddressLine1Txt |
| City | COOKEVILLE | CityNm |
| State Abbreviation | TN | StateAbbreviationCd |
| ZIP | 38502 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 824975758 | EIN |
| Primary Activities | TELECOMMUNICATIONS | PrimaryActivitiesTxt |
| Legal Domicile State | TN | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TWIN LAKES COMMUNICATIONS INC | ||||||||||||
| PO BOX 696 | GAINSBORO | TN | 38562 | 481279798 | TELECOMMUNICATIONS | TN | TWIN LAKES TELEPHONE COOPERATIVE CORPORATION | C | $728,940 | $31,562,719 | 1.00000 | Yes (1) |
| ONWAV INC | ||||||||||||
| PO BOX 67 | GAINSBORO | TN | 38562 | 208560825 | WIRELESS COMMUNICATIONS | TN | TWIN LAKES TELEPHONE COOPERATIVE CORPORATION | C | $641,083 | $2,533,068 | 1.00000 | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| TWIN LAKES COMMUNICATIONS INC | ||
| R | $2,494,798 | FAIR MARKET VALUE |
| TWIN LAKES COMMUNICATIONS INC | ||
| Q | $1,293,474 | FAIR MARKET VALUE |