2024-10-31T13:21:02-04:00 2023-12-31 743040374 Kelso Lynch PC PA 6700 Squibb Rd Ste 215 Mission KS 662023252 990 2023-01-01 590538145 Glades Electric Cooperative Inc GLAD PO Box 519 Moore Haven FL 33471 Jeffery R Brewington CEO 8639466200 2024-10-25 true true George Lynch P00187596 9138311150 2024-10-31 2023 2024-10-15 13:58:12Z Jeffery R Brewington 58797465 false X WWW.GLADESELECTRIC.COM X 1945 FL TO PROVIDE EXCEPTIONAL SERVICE 9 9 86 0 0 2338500 56841905 56322748 -357508 91765 90335 44452 56574732 58797465 0 3374286 5730569 2628411 2450248 0 0 50373285 48278148 56375982 56458965 198750 2338500 177853000 207301724 119475047 143304832 58377953 63996892 TO PROVIDE EXCEPTIONAL SERVICE false false 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. false false false false false false false false true false true false true true false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 37 0 true 86 true false false false false false 56732433 2905596 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X Jennifer Manning 8639466200 PO Box 519 Moore Haven FL 33471 Jeffery R Brewington CEO 60.00 0.00 X 434397 0 193883 Jennifer Manning Chief Financial Officer 50.00 0.00 X 149402 0 69964 Jesse Wallace Chief Technology Officer 50.00 0.00 X 165468 0 29004 James Morrissey Power Supply Man 50.00 0.00 X 130030 0 45982 Michael Roberge Chief Operating Officer 50.00 0.00 X 123366 0 50318 Jennifer Koukos Chief Communication Officer 48.00 0.00 X 126097 0 33623 Horacio Pardo Journeyman Lineman 52.00 0.00 X 140064 0 18070 Wyatt Larsen Journey Linemen 52.00 0.00 X 134610 0 23358 James Nipper Lead Lineman 49.00 0.00 X 126485 0 30436 Courtney Brown Chief Personnel Officer 50.00 0.00 X 132577 0 23367 Jacob Jones Journey Linemen 51.00 0.00 X 120530 0 4737 Lee Henderson TrusteeVice President 15.01 0.00 X 20150 0 0 John Coxe TrusteePresident 10.40 0.00 X X 19400 0 0 Barney Goodman Trustee 8.70 0.00 X 17150 0 0 Fred Tagtmeier Trustee 7.20 0.00 X 16441 0 0 Shannon Hall TrusteeSecTreasurer 5.70 0.00 X X 16300 0 0 Brad Oxer Trustee 5.20 0.00 X X 14489 0 0 Angela Hodges Trustee 5.30 0.00 X 14300 0 0 Michael Pressley Trustee 6.90 0.00 X 14300 0 0 Donnie Lundy Trustee 6.30 0.00 X 11950 0 0 1927506 0 522742 22 false true false Pike Electric LLC PO Box 746308 Atlanta GA 30374 Electr Line Contr 6334459 The Davey Tree Expert Company PO Box 709 Kent OH 44240 ROW Trimming 4395216 Benton Technical Services Inc PO Box 168 South Wilmington IL 60474 Fiber Construction 1630831 Stanley Utility Contractor LLC 103 Lee Street Leesburg FL 34748 Utility Contractor 814043 Conexon LLC 2001 Grand Blvd Suite 700 Kansas City MO 64108 Fiber Contractor 1093432 10 2338500 2338500 Sale of Electricity 221000 53183922 53183922 Other Operating 221000 889453 889453 Capital Credits 221000 2249373 2249373 56322748 91765 91765 153193 153193 153193 153193 Non - Operating 900099 -108741 -108741 -108741 58797465 56214007 0 244958 X 5730569 1675945 774303 4953167 4652994 Cost of Power 24567189 24567189 Distribution Expense 9170685 9170685 Customer Services 792615 792615 Admin & General 4059237 4059237 82261 56458965 0 0 0 408366 245125 7001894 5456005 500760 689362 2446615 3793772 190423735 15544707 147887962 174879028 3422402 4249548 381418 95560 15803583 17893324 177853000 207301724 7979550 6424919 107774540 116636216 15478368 3720957 4765329 119475047 143304832 X 58377953 63996892 58377953 63996892 177853000 207301724 X 2338500 3280439 X false true X true true true 2151950 2151950 5431671 2529959 2901712 182840114 13014748 169825366 174879028 Other Securities 95560 C 95560 Investment in Assoc Organization 17139932 C Subordinated Certificates 753392 C 17893324 Customer Deposits 2246052 Other Deferred Credits 1175925 Recovery 1343352 4765329 X Footnote for uncertain tax position under FIN 48 (Part X) 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. X X X X false true false Jeffery R Brewington CEO 434397 179908 13975 628280 Jennifer Manning Chief Financial Officer 149402 57142 12822 219366 Michael Roberge Chief Operating Officer 123366 44843 5475 173684 Jesse Wallace Chief Technology Officer 165468 21710 7294 194472 Courtney Brown Chief Personnel Officer 132577 16401 6966 155944 Jennifer Koukos Chief Communication Officer 126097 17641 15982 159720 Horacio Pardo Journeyman Lineman 140064 11522 6548 158134 Wyatt Larsen Journey Linemen 134610 7867 15491 157968 James Morrissey Power Supply Man 130030 34129 11853 176012 James Nipper Lead Lineman 126485 23835 6601 156921 Listed persons compensation information (Part I, line 4) Jeffery R Brewington Nonqualified Payment $24,512 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. Glades Electric Educational Foundat PO Box 519 Moore Haven FL 33471 651083705 Scholarship FL 501c3 PF N/A true Glades Electric Charitable Trust I PO Box 519 Moore Haven FL 33471 650850177 Help Needy FL 501c3 8 N/A false Glades Services Inc 1190 US Highway 27 East Moore Haven FL 33471 650902428 Holding Company FL Glades Electric Cooperative Inc C Corp 4944 386362 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 false false false false false false false false false false false false false false false false false true false Glades Electric Charitable Trust r 62838 Cash Glades Electric Education Foundatio r Cash