GLADES ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- GLADES ELECTRIC COOPERATIVE INC (EIN 59-0538145)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-31
- IRS object ID
- 202413059349301966
- 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 | 2024-10-31T13:21:02-04:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 743040374 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Kelso Lynch PC PA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6700 Squibb Rd Ste 215 | AddressLine1Txt |
| City | Mission | CityNm |
| State Abbreviation | KS | StateAbbreviationCd |
| ZIP | 662023252 | 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 | 590538145 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Glades Electric Cooperative Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GLAD | BusinessNameControlTxt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 519 | AddressLine1Txt |
| City | Moore Haven | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33471 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jeffery R Brewington | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 8639466200 | PhoneNum |
| Signature | 2024-10-25 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | George Lynch | PreparerPersonNm |
| PTIN | P00187596 | PTIN |
| Phone | 9138311150 | PhoneNum |
| Preparation | 2024-10-31 | 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 | Jeffery R Brewington | PrincipalOfficerNm |
| Gross Receipts | $58,797,465 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.GLADESELECTRIC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1945 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE EXCEPTIONAL SERVICE | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 86 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| CY Contributions Grants | $2,338,500 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $56,841,905 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $56,322,748 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$357,508 | PYInvestmentIncomeAmt |
| CY Investment Income | $91,765 | CYInvestmentIncomeAmt |
| PY Other Revenue | $90,335 | PYOtherRevenueAmt |
| CY Other Revenue | $44,452 | CYOtherRevenueAmt |
| PY Total Revenue | $56,574,732 | PYTotalRevenueAmt |
| CY Total Revenue | $58,797,465 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,374,286 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $5,730,569 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $2,628,411 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,450,248 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $50,373,285 | PYOtherExpensesAmt |
| CY Other Expenses | $48,278,148 | CYOtherExpensesAmt |
| PY Total Expenses | $56,375,982 | PYTotalExpensesAmt |
| CY Total Expenses | $56,458,965 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $198,750 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,338,500 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $177,853,000 | TotalAssetsBOYAmt |
| Total Assets EOY | $207,301,724 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $119,475,047 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $143,304,832 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $58,377,953 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $63,996,892 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE EXCEPTIONAL SERVICE | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | UTILIZING 2,665 MILES OF ELECTRIC DISTRIBUTION AND TRANSMISSION LINES, GLADES ELECTRIC COOPERATIVE, INC. PROVIDED ELECTRICITY TO APPROXIMATELY 17,842 RESIDENTIAL, COMMERCIAL AND INDUSTRIAL ACCOUNTS LOCATED IN SOUTH FLORIDA. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (true) | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 37 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 86 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Members And Shr Gross Income | $56,732,433 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $2,905,596 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jennifer Manning | PersonNm |
| Phone | 8639466200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 519 | AddressLine1Txt |
| City | Moore Haven | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33471 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| Jeffery R Brewington | ||||||||
| CEO | 60.00 | 0.00 | Yes (X) | $434,397 | $0 | $193,883 | ||
| Jennifer Manning | ||||||||
| Chief Financial Officer | 50.00 | 0.00 | Yes (X) | $149,402 | $0 | $69,964 | ||
| Jesse Wallace | ||||||||
| Chief Technology Officer | 50.00 | 0.00 | Yes (X) | $165,468 | $0 | $29,004 | ||
| James Morrissey | ||||||||
| Power Supply Man | 50.00 | 0.00 | $130,030 | $0 | $45,982 | Yes (X) | ||
| Michael Roberge | ||||||||
| Chief Operating Officer | 50.00 | 0.00 | Yes (X) | $123,366 | $0 | $50,318 | ||
| Jennifer Koukos | ||||||||
| Chief Communication Officer | 48.00 | 0.00 | Yes (X) | $126,097 | $0 | $33,623 | ||
| Horacio Pardo | ||||||||
| Journeyman Lineman | 52.00 | 0.00 | $140,064 | $0 | $18,070 | Yes (X) | ||
| Wyatt Larsen | ||||||||
| Journey Linemen | 52.00 | 0.00 | $134,610 | $0 | $23,358 | Yes (X) | ||
| James Nipper | ||||||||
| Lead Lineman | 49.00 | 0.00 | $126,485 | $0 | $30,436 | Yes (X) | ||
| Courtney Brown | ||||||||
| Chief Personnel Officer | 50.00 | 0.00 | Yes (X) | $132,577 | $0 | $23,367 | ||
| Jacob Jones | ||||||||
| Journey Linemen | 51.00 | 0.00 | $120,530 | $0 | $4,737 | Yes (X) | ||
| Lee Henderson | ||||||||
| TrusteeVice President | 15.01 | 0.00 | $20,150 | $0 | $0 | Yes (X) | ||
| John Coxe | ||||||||
| TrusteePresident | 10.40 | 0.00 | Yes (X) | $19,400 | $0 | $0 | Yes (X) | |
| Barney Goodman | ||||||||
| Trustee | 8.70 | 0.00 | $17,150 | $0 | $0 | Yes (X) | ||
| Fred Tagtmeier | ||||||||
| Trustee | 7.20 | 0.00 | $16,441 | $0 | $0 | Yes (X) | ||
| Shannon Hall | ||||||||
| TrusteeSecTreasurer | 5.70 | 0.00 | Yes (X) | $16,300 | $0 | $0 | Yes (X) | |
| Brad Oxer | ||||||||
| Trustee | 5.20 | 0.00 | Yes (X) | $14,489 | $0 | $0 | Yes (X) | |
| Angela Hodges | ||||||||
| Trustee | 5.30 | 0.00 | $14,300 | $0 | $0 | Yes (X) | ||
| Michael Pressley | ||||||||
| Trustee | 6.90 | 0.00 | $14,300 | $0 | $0 | Yes (X) | ||
| Donnie Lundy | ||||||||
| Trustee | 6.30 | 0.00 | $11,950 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,927,506 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $522,742 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 22 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Pike Electric LLC | |||||
| PO Box 746308 | Atlanta | GA | 30374 | Electr Line Contr | $6,334,459 |
| The Davey Tree Expert Company | |||||
| PO Box 709 | Kent | OH | 44240 | ROW Trimming | $4,395,216 |
| Benton Technical Services Inc | |||||
| PO Box 168 | South Wilmington | IL | 60474 | Fiber Construction | $1,630,831 |
| Stanley Utility Contractor LLC | |||||
| 103 Lee Street | Leesburg | FL | 34748 | Utility Contractor | $814,043 |
| Conexon LLC | |||||
| 2001 Grand Blvd Suite 700 | Kansas City | MO | 64108 | Fiber Contractor | $1,093,432 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 10 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $2,338,500 | GovernmentGrantsAmt |
| Total Contributions | $2,338,500 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Sale of Electricity | 221000 | $53,183,922 | $53,183,922 |
| Other Operating | 221000 | $889,453 | $889,453 |
| Capital Credits | 221000 | $2,249,373 | $2,249,373 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $56,322,748 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $91,765 | TotalRevenueColumnAmt |
| Exclusion | $91,765 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $153,193 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $153,193 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $153,193 | TotalRevenueColumnAmt |
| Exclusion | $153,193 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Non - Operating | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | -$108,741 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | -$108,741 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$108,741 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $58,797,465 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $56,214,007 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $244,958 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,730,569 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,675,945 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $774,303 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,953,167 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,652,994 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| Cost of Power | $24,567,189 | $24,567,189 |
| Distribution Expense | $9,170,685 | $9,170,685 |
| Customer Services | $792,615 | $792,615 |
| Admin & General | $4,059,237 | $4,059,237 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,261 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,458,965 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $408,366 | BOYAmt |
| EOY | $245,125 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,001,894 | BOYAmt |
| EOY | $5,456,005 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $500,760 | BOYAmt |
| EOY | $689,362 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,446,615 | BOYAmt |
| EOY | $3,793,772 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $190,423,735 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $15,544,707 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $147,887,962 | BOYAmt |
| EOY | $174,879,028 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,422,402 | BOYAmt |
| EOY | $4,249,548 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $381,418 | BOYAmt |
| EOY | $95,560 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,803,583 | BOYAmt |
| EOY | $17,893,324 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177,853,000 | BOYAmt |
| EOY | $207,301,724 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,979,550 | BOYAmt |
| EOY | $6,424,919 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $107,774,540 | BOYAmt |
| EOY | $116,636,216 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $15,478,368 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,720,957 | BOYAmt |
| EOY | $4,765,329 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $119,475,047 | BOYAmt |
| EOY | $143,304,832 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,377,953 | BOYAmt |
| EOY | $63,996,892 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,377,953 | BOYAmt |
| EOY | $63,996,892 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $177,853,000 | BOYAmt |
| EOY | $207,301,724 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,338,500 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $3,280,439 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | 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 (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,151,950 | OtherCostOrOtherBasisAmt |
| Book Value | $2,151,950 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,431,671 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,529,959 | DepreciationAmt |
| Book Value | $2,901,712 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $182,840,114 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,014,748 | DepreciationAmt |
| Book Value | $169,825,366 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $174,879,028 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other Securities | Desc |
| Book Value | $95,560 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $95,560 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Investment in Assoc Organization | $17,139,932 | C |
| Subordinated Certificates | $753,392 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $17,893,324 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| Customer Deposits | $2,246,052 |
| Other Deferred Credits | $1,175,925 |
| Recovery | $1,343,352 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $4,765,329 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Footnote for uncertain tax position under FIN 48 (Part X) | FormAndLineReferenceDesc |
| Explanation | The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management has evaluated the Cooperatives tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements. While the Cooperative believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could be different than the positions taken by the Cooperative. The Cooperative recognize any interest and penalties assessed by taxing authorities in income tax expense and, with few exceptions, are no longer subject to federal, state, or local income tax examinations by tax authorities for years before 2020. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt |
|---|---|---|---|---|
| Jeffery R Brewington | ||||
| CEO | $434,397 | $179,908 | $13,975 | $628,280 |
| Jennifer Manning | ||||
| Chief Financial Officer | $149,402 | $57,142 | $12,822 | $219,366 |
| Michael Roberge | ||||
| Chief Operating Officer | $123,366 | $44,843 | $5,475 | $173,684 |
| Jesse Wallace | ||||
| Chief Technology Officer | $165,468 | $21,710 | $7,294 | $194,472 |
| Courtney Brown | ||||
| Chief Personnel Officer | $132,577 | $16,401 | $6,966 | $155,944 |
| Jennifer Koukos | ||||
| Chief Communication Officer | $126,097 | $17,641 | $15,982 | $159,720 |
| Horacio Pardo | ||||
| Journeyman Lineman | $140,064 | $11,522 | $6,548 | $158,134 |
| Wyatt Larsen | ||||
| Journey Linemen | $134,610 | $7,867 | $15,491 | $157,968 |
| James Morrissey | ||||
| Power Supply Man | $130,030 | $34,129 | $11,853 | $176,012 |
| James Nipper | ||||
| Lead Lineman | $126,485 | $23,835 | $6,601 | $156,921 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Listed persons compensation information (Part I, line 4) | FormAndLineReferenceDesc |
| Explanation | Jeffery R Brewington Nonqualified Payment $24,512 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Members or stockholder classes and rights Part VI line 6 | ALL PEOPLE OR ENTITIES WHO PURCHASE ENERGY FROM GLADES ELECTRIC COOPERATIVE, INC. ARE MEMBERS OF THE ORGANIZATION. MARGINS ARE ALLOCATED TO MEMBERS ACCOUNTS BASED ON USAGE. EACH MEMBER HAS A SINGLE VOTE REGARDING ELECTION OF THE GOVERNING BODY OF THE COOPERATIVE. |
| Member election for additional members Part VI line 7a | THE MEMBERS OF GLADES ELECTRIC COOPERATIVE, INC. MAY ELECT MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. EACH YEAR, AN ANNUAL MEETING IS HELD AT WHICH THE MEMBERSHIP VOTES TO ELECT THREE TRUSTEES FOR A THREE YEAR TERM. |
| Governing body decisions Part VI line 7b | THE MEMBERSHIP MUST APPROVE DECISIONS THAT INVOLVE SUBSTANTIAL TRANSFERS OF COOPERATIVE ASSETS, AMENDMENTS TO THE COOPERATIVES BYLAWS, AS WELL AS OTHER DECISIONS REQUIRING APPROVAL OF THE MEMBERSHIP BY LAW, THE ARTICLES OF INCORPORATION, AND/OR THE COOPERATIVES BYLAWS. |
| Form 990 governing body review Part VI line 11 | THE COMPLETED FORM 990 WAS FIRST REVIEWED BY THE CHIEF FINANCIAL OFFICER. A COPY OF THE FORM 990 WAS THEN PRESENTED TO THE BOARD OF TRUSTEES AT A BOARD MEETING PRIOR TO FILING THE FORM WITH THE INTERNAL REVENUE SERVICE. ONCE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES, THE CEO SIGNED AND TRANSMITTED THE RETURN TO THE INTERNAL REVENUE SERVICE. |
| Conflict of interest policy compliance Part VI line 12c | CERTAIN COOPERATIVE POLICIES ARE REVIEWED EACH MONTH. AT ANY BOARD MEETING IN WHICH A CONFLICT MAY ARISE DUE TO BUSINESS TRANSACTIONS, THE APPLICABLE TRUSTEES WILL RECUSE THEMSELVES FROM VOTING ON THE MATTER. |
| CEO executive director top management comp Part VI line 15a | THE COMPENSATION OF THE CEO IS DETERMINED ANNUALLY AT THE BOARD OF TRUSTEES DISCRETION UTILIZING AN EXECUTIVE COMPENSATION ANALYSIS PREPARED BY THE INDEPENDENT CONTRACTOR, INTANDEM LLC, WHICH INCORPORATES NRECAS NATIONALCOMPENSATION SYSTEM AND THE ECONOMIC RESEARCH INSTITUTES SALARY ASSESSOR. |
| Other officer or key employee compensation Part VI line 15b | FOR OTHER EMPLOYEES OF THE COOPERATIVE, THE CEO UTILIZES A MARKET MODEL COMPENSATION PLAN PREPARED BY INDEPENDENT CONTRACTOR, INTANDEM, LLC. TO MAKE AN OVERALL COMPENSATION ADJUSTMENT RECOMMENDATION TO THE BOARD OF TRUSTEES FOR THEIR APPROVAL WHICH IS ALLOCATED AMONG EMPLOYEES PER THE PLAN. UNION PERSONNEL RECEIVE A CONTRACTED AMOUNT WHICH WAS APPROVED BY THE BOARD OF TRUSTEES. |
| Governing documents etc available to public Part VI line 19 | GLADES ELECTRIC COOPERATIVES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE MAIN OFFICE IN MOORE HAVEN, FLORIDA. |
| Explanation of other changes in net assets or fund balances Part XI line 9 | Assignement of margins to members $ 5,730,569FEMA Grant for Utility Plant $ -2,338,500 Gain on retirement of capital credits $ 187,266Retirement of capital credits $ -276,883Other changes $ -22,013 Total $ 3,280,439 |
| Part IX response or note to any line in Part IX | Form 990, Part IX, Line 4The instructions to the 2023 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. The Cooperative has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. The 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 ended December 31, 2023. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Glades Electric Educational Foundat | ||||||||||
| PO Box 519 | Moore Haven | FL | 33471 | 651083705 | Scholarship | FL | 501c3 | PF | N/A | Yes (true) |
| Glades Electric Charitable Trust I | ||||||||||
| PO Box 519 | Moore Haven | FL | 33471 | 650850177 | Help Needy | FL | 501c3 | 8 | N/A | false |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Glades Services Inc | |||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 650902428 | Holding Company | FL | Glades Electric Cooperative Inc | C Corp | $4,944 | $386,362 | 1.00000 |
| Glades Utility Services Inc | |||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 650902154 | Plant Cont | FL | Glades Services Inc | C Corp | 1.00000 | ||
| Glades Economic Investors Inc | |||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 651067614 | Real Estate | FL | Glades Services Inc | C Corp | 1.00000 | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (true) | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Glades Electric Charitable Trust | ||
| r | $62,838 | Cash |
| Glades Electric Education Foundatio | ||
| r | Cash | |