CONCHO VALLEY ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CONCHO VALLEY ELECTRIC COOPERATIVE INC (EIN 75-0204684)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202413199349312681
- 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 | 2024-11-14T14:58:53-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750882037 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 NASHVILLE AVENUE | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79423 | 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 | 750204684 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CONCHO VALLEY ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CONC | BusinessNameControlTxt |
| Phone | 3256556957 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3388 | AddressLine1Txt |
| City | SAN ANGELO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 769023388 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KELLY LANKFORD | PersonNm |
| Person Title | EXECUTIVE VP/CEO | PersonTitleTxt |
| Phone | 3256556957 | PhoneNum |
| Signature | 2024-11-13 | 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 | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| 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 | KELLY LANKFORD | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 3388 | AddressLine1Txt |
| City | SAN ANGELO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 769023388 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $51,120,896 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.CVEC.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 80 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $30,823 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $29,823 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $52,673,757 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $50,743,794 | CYProgramServiceRevenueAmt |
| PY Investment Income | $47,482 | PYInvestmentIncomeAmt |
| CY Investment Income | $47,934 | CYInvestmentIncomeAmt |
| PY Other Revenue | $119,970 | PYOtherRevenueAmt |
| CY Other Revenue | $243,886 | CYOtherRevenueAmt |
| PY Total Revenue | $52,841,209 | PYTotalRevenueAmt |
| CY Total Revenue | $51,035,614 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $27,383 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $26,556 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $3,011,956 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $3,056,818 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,857,347 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,155,805 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $43,944,523 | PYOtherExpensesAmt |
| CY Other Expenses | $41,796,435 | CYOtherExpensesAmt |
| PY Total Expenses | $52,841,209 | PYTotalExpensesAmt |
| CY Total Expenses | $51,035,614 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $144,391,966 | TotalAssetsBOYAmt |
| Total Assets EOY | $163,180,402 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $83,821,540 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $101,257,635 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $60,570,426 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $61,922,767 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | CONCHO VALLEY ELECTRIC COOPERATIVE, INC. DEDICATES ITSELF TO THE IMPROVEMENT OF ITS MEMBERS' LIFESTYLE AND THE ECONOMIC ENVRIONMENT OF ITS SERVICE AREA. THE COOPERATIVE IS COMMITTED TO PROVIDING SAFE, RELIABLE ELECTRIC SERVICE AT THE LOWEST PRACTICAL COST AND TO MEETING THE CHANGING NEEDS OF ITS MEMBERSHIP WITH A WELL TRAINED, QUALITY WORK FORCE AND WITH THE USE OF SOUND BUSINESS PRACTICES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ELECTRIC DIVISION:SALES OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,996 ACTIVE SERVICES AT YEAR END. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BROADBAND DIVISION:SALES OF FIBER BASED BROADBAND INTERNET SERVICES TO MEMBERS ON A COOPERATIVE BASIS. WHEN CUMULATIVE NET MARGINS DERIVED FROM MEMBER SALES OF BROADBAND INTERNET SERVICES EXCEED CUMULATIVE NET LOSSES FROM SUCH SALES, THE COOPERATIVE WILL ALLOCATE PATRONAGE CAPITAL TO THE MEMBER SUBSCRIBERS OF THIS DIVISION. THERE WERE 297 BROADBAND SUBSCRIBERS AT YEAR END. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 | Yes (1) | 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 | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | Yes (1) | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 52 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 80 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| 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 | $49,471,892 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,616,867 | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | 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 | 0 | 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 | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KELLY LANKFORD EXECUTIVE VPCEO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3256556957 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2530 PULLIAM ST | AddressLine1Txt |
| City | SAN ANGELO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 769054401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| DAVID KEMPEN | ||||||||
| DIRECTOR | 6.40 | Yes (X) | $5,250 | $0 | $0 | |||
| THOMAS CARTER | ||||||||
| SECRETARY/TREASURER | 15.00 | Yes (X) | $2,700 | $0 | $0 | Yes (X) | ||
| JEFF COPELAND | ||||||||
| PRESIDENT | 20.40 | Yes (X) | $2,900 | $0 | $0 | Yes (X) | ||
| LARRY W KLATTENHOFF | ||||||||
| VICE-PRESIDENT | 5.90 | Yes (X) | $2,400 | $0 | $0 | Yes (X) | ||
| RALPH WILLBERG | ||||||||
| DIRECTOR | 4.40 | Yes (X) | $2,400 | $0 | $0 | |||
| DARYL SCHNIERS | ||||||||
| DIRECTOR | 4.60 | Yes (X) | $4,100 | $0 | $0 | |||
| WILL WIGGINS | ||||||||
| DIRECTOR | 3.20 | Yes (X) | $1,800 | $0 | $0 | |||
| KELLY LANKFORD | ||||||||
| EXECUTIVE VP/CEO | 45.50 | $311,468 | $0 | $78,434 | Yes (X) | |||
| DUSTIN BROWN | ||||||||
| DIRECTOR OF ENGINEERING & OPERATIONS | 42.50 | $157,900 | $0 | $51,477 | Yes (X) | |||
| JONATHAN CUTRER | ||||||||
| DIRECTOR OF INFORMATION TECHNOLOGY | 40.40 | $141,766 | $0 | $59,693 | Yes (X) | |||
| DAVID WATSON | ||||||||
| DIRECTOR OF FINANCE & OFFICE SERVICES | 41.80 | $139,181 | $0 | $85,044 | Yes (X) | |||
| TERRY WARD | ||||||||
| ENGINEERING FOREMAN | 45.60 | $134,649 | $0 | $48,108 | Yes (X) | |||
| BUSTER MATHENY | ||||||||
| LINE SUPERINTENDENT | 45.00 | $134,543 | $0 | $45,885 | Yes (X) | |||
| ZACHARY BRYAN | ||||||||
| FOREMAN | 46.90 | $120,433 | $0 | $34,071 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,161,490 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $402,712 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 18 | 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 |
|---|---|---|---|---|---|
| TECHLINE CONSTRUCTION LLC | |||||
| PO BOX 674086 | DALLAS | TX | 75267 | LINE CONSTRUCTION | $2,570,580 |
| JUSTICE CONSTRUCTION INC | |||||
| 1226 US-83 | ABILENE | TX | 79602 | CONSTRUCTION CONTRACTOR | $790,705 |
| POWER ENGINEERS INC | |||||
| PO BOX 855321 | MINNEAPOLIS | MN | 55485 | CONSULTING/ENGINEERING | $666,054 |
| ISBELL CONSTRUCTION LTD | |||||
| 701 N PATTERSON AVE | FLORENCE | TX | 76527 | CONSTRUCTION CONTRACTOR | $362,414 |
| NISC | |||||
| ONE INNOVATION CIRCLE | LAKE SAINT LOUIS | MO | 63367 | SOFTWARE | $299,813 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 13 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $47,805,618 | $47,805,618 |
| PATRONAGE DIVIDENDS | 221000 | $2,317,194 | $2,317,194 |
| SALES OF BROADBAND INTERNET | 517000 | $341,450 | $341,450 |
| SERVICE FEES | 221000 | $279,532 | $279,532 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $50,743,794 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $47,934 | TotalRevenueColumnAmt |
| Exclusion | $47,934 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $40,965 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $10,142 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $30,823 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $30,823 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $30,823 | UnrelatedBusinessRevenueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $143,301 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $75,140 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $68,161 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $68,161 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| MISC. NON-OPERATING INCOME | 221000 | $104,450 | $104,450 | |
| POLE ATTACHMENT INCOME | 221000 | $40,452 | $40,452 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $144,902 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $51,035,614 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $50,916,405 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $30,823 | UnrelatedBusinessRevenueAmt |
| Exclusion | $88,386 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,556 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,056,818 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $620,829 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,604,851 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $772,443 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $861,628 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $296,054 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,341,383 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,284,915 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $29,382,592 |
| DISTRIBUTION EXPENSE | $2,493,036 |
| ADMIN & GENERAL EXPENSE | $1,103,520 |
| UNRELATED BUS. INC. TAX | $5,679 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,185,310 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,035,614 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,651,707 | BOYAmt |
| EOY | $1,388,071 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,074,297 | BOYAmt |
| EOY | $15,265,808 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,118,141 | BOYAmt |
| EOY | $5,819,709 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $682,642 | BOYAmt |
| EOY | $454,014 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $158,189,778 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $47,917,879 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,733,730 | BOYAmt |
| EOY | $110,271,899 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $26,329,808 | BOYAmt |
| EOY | $27,832,911 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,801,641 | BOYAmt |
| EOY | $2,147,990 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,391,966 | BOYAmt |
| EOY | $163,180,402 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,474,467 | BOYAmt |
| EOY | $18,223,951 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $303,592 | BOYAmt |
| EOY | $356,756 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,991,341 | BOYAmt |
| EOY | $80,048,637 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,052,140 | BOYAmt |
| EOY | $2,628,291 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $83,821,540 | BOYAmt |
| EOY | $101,257,635 | 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 | $182,960 | BOYAmt |
| EOY | $187,130 | 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 | $60,387,466 | BOYAmt |
| EOY | $61,735,637 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,570,426 | BOYAmt |
| EOY | $61,922,767 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,391,966 | BOYAmt |
| EOY | $163,180,402 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,352,342 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $523,413 | OtherCostOrOtherBasisAmt |
| Book Value | $523,413 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,929,012 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,414,254 | DepreciationAmt |
| Book Value | $4,514,758 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $144,583,733 | OtherCostOrOtherBasisAmt |
| Depreciation | $45,503,625 | DepreciationAmt |
| Book Value | $99,080,108 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,153,620 | OtherCostOrOtherBasisAmt |
| Book Value | $6,153,620 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $110,271,899 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CFC CAPITAL TERM CERTIFICATES | $680,146 | C |
| PATRONAGE CAPITAL - TEC, NRTC, CFC | $3,474,799 | C |
| PATRONAGE CAPITAL - GSEC | $23,061,377 | C |
| MEMBERSHIPS IN ASSOCIATED ORGS. | $2,060 | C |
| DEFERRED COMPENSATION - HOMESTEAD FUNDS | $252,530 | F |
| ECONOMIC DEVELOPMENT & SCHOLARSHIP FUNDS | $360,756 | C |
| OTHER INVESTMENTS | $1,243 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $27,832,911 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $883,574 |
| ACCUMULATED PROVISION FOR PENSION & BENEFITS | $437,040 |
| ACCRUED OPERATING TAXES | $472,357 |
| DEFERRED CREDIT - UNCLAIMED PATRONAGE CAPITAL | $754,521 |
| OVER RECOVERED PCRF | $36,924 |
| OTHER LIABILITIES | $43,875 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,628,291 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A RURAL SCHOLARSHIP FUND WITH AMOUNTS DETERMINED UNCLAIMED UNDER STATE LAW. 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 ECONOMIC DEVELOPMENT FUND AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR THE STIMULATION AND IMPROVEMENT OF BUSINESS AND COMMERCIAL ACTIVITY FOR ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES. ANY AMOUNTS SO DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. |
| PART IX: | THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TEXAS ELECTRIC COOPERATIVES | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1122 COLORADO STREET 24TH FLOOR | AddressLine1Txt |
| City | AUSTIN | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 741007829 | RecipientEIN |
| IRC Section | CORPORATION | IRCSectionDesc |
| Cash Grant | $11,200 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | WASHINGTON YOUTH TOUR SPONSORSHIPS | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Org | 1 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II: | FormAndLineReferenceDesc |
| Explanation | ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| 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 (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KELLY LANKFORD | ||||||||||||||
| EXECUTIVE VP/CEO | $290,963 | $0 | $0 | $0 | $20,505 | $0 | $64,591 | $0 | $13,843 | $0 | $389,902 | $0 | $0 | $0 |
| DAVID WATSON | ||||||||||||||
| DIRECTOR OF FINANCE & OFFICE SERVICE | $136,943 | $0 | $0 | $0 | $2,238 | $0 | $55,703 | $0 | $29,341 | $0 | $224,225 | $0 | $0 | $0 |
| DUSTIN BROWN | ||||||||||||||
| DIRECTOR OF ENGINEERING & OPERATIONS | $156,476 | $0 | $0 | $0 | $1,424 | $0 | $23,339 | $0 | $28,138 | $0 | $209,377 | $0 | $0 | $0 |
| JONATHAN CUTRER | ||||||||||||||
| DIRECTOR OF INFORMATION TECHNOLOGY | $140,036 | $0 | $0 | $0 | $1,730 | $0 | $33,532 | $0 | $26,161 | $0 | $201,459 | $0 | $0 | $0 |
| TERRY WARD | ||||||||||||||
| ENGINEERING FOREMAN | $132,801 | $0 | $0 | $0 | $1,848 | $0 | $35,434 | $0 | $12,674 | $0 | $182,757 | $0 | $0 | $0 |
| BUSTER MATHENY | ||||||||||||||
| LINE SUPERINTENDENT | $133,316 | $0 | $0 | $0 | $1,227 | $0 | $19,512 | $0 | $26,373 | $0 | $180,428 | $0 | $0 | $0 |
| ZACHARY BRYAN | ||||||||||||||
| FOREMAN | $119,293 | $0 | $0 | $0 | $1,140 | $0 | $13,793 | $0 | $20,278 | $0 | $154,504 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, COLUMN C: | FormAndLineReferenceDesc |
| Explanation | 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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KELLY LANKFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 55,856 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,735 TOTAL REPORTED IN COLUMN C $ 64,591 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,856) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 66,779 EXPENSE TO THE COOPERATIVE $ 75,514 DAVID WATSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 51,332 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,371 TOTAL REPORTED IN COLUMN C $ 55,703 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,332) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,129 EXPENSE TO THE COOPERATIVE $ 41,500 DUSTIN BROWN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,454 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,885 TOTAL REPORTED IN COLUMN C $ 23,339 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,454) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,495 EXPENSE TO THE COOPERATIVE $ 46,380 JONATHAN CUTRER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,164 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,368 TOTAL REPORTED IN COLUMN C $ 33,532 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,164) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,106 EXPENSE TO THE COOPERATIVE $ 41,474 TERRY WARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,131 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,303 TOTAL REPORTED IN COLUMN C $ 35,434 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,131) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,053 EXPENSE TO THE COOPERATIVE $ 31,356 BUSTER MATHENY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,003 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,509 TOTAL REPORTED IN COLUMN C $ 19,512 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,003) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,787 EXPENSE TO THE COOPERATIVE $ 33,296 ZACHARY BRYAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,934 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,859 TOTAL REPORTED IN COLUMN C $ 13,793 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,934) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,629 EXPENSE TO THE COOPERATIVE $ 27,488 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (19 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | A BUSINESS RELATIONSHIP EXISTS BETWEEN KELLY LANKFORD (EMPLOYEE OFFICER) AND JEFF COPELAND (DIRECTOR). BOTH SERVE ON THE BOARD OF GOLDEN SPREAD ELECTRIC COOPERATIVE AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. |
| 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 FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 2. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 3. MERGER OR CONSOLIDATION WITH ANOTHER COOPERATIVE ORGANIZATION 4. AMENDMENTS TO THE ARTICLES OF INCORPORATION |
| FORM 990, PART VI, SECTION A, LINE 8B | THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVIEW OCURRED AT A BOARD MEETING BEFORE FILING THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL DIRECTORS AND EMPLOYEES ARE REQUIRED TO DISCLOSE ANY CONFLICT OF INTEREST TO THE EXECUTIVE VP/CEO AS SOON AS POSSIBLE. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY, INDEPENDENT COMPENSATION CONSULTANT AND COMPARE COMPENSATION REPORTED ON OTHER COOPERATIVES IRS FORMS 990 WHEN DETERMINING THE COMPENSATION OF THE EXECUTIVE VP/CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS & CEOS FROM COOPERATIVES LOCATED IN TEXAS AND THE NATION. OTHER THAN THE EXECUTIVE VP/CEO, THE COOPERATIVE DID NOT HAVE ANY EMPLOYEES MEETING THE DEFINITION OF OFFICER OR KEY EMPLOYEE. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, LINE 15B HAS BEEN ANSWERED "NO". |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE PROVIDES A COPY OF ITS BYLAWS TO ALL NEW MEMBERS WHO SIGN UP FOR SERVICE. THE BYLAWS CAN ALSO BE FOUND ON THE COOPERATIVE'S WEBSITE. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ADDITIONALLY, A SUMMARIZED COPY OF THE COOPERATIVE'S FINANCIAL STATEMENTS ARE PROVIDED TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. |
| FORM 990, PART VII, COLUMN F: | IN 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. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. 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 AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. |
| FORM 990, PART VII, SECTION A: | THE BOARD OF DIRECTORS CONSIDER THE EXECUTIVE VP/CEO TO BE BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL. THEREFORE, ONLY THE EXECUTIVE VP/CEO IS LISTED AS AN EMPLOYEE OFFICER. |
| FORM 990, PART IX: | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS 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 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. |
| FORM 990, PART VIII, LINE 2B: | PATRONAGE 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. |
| FORM 990, PART IX, LINES 5-7: | SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 4,225,680 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (21,550) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (129,911) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,256,099 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 518,317 TOTAL WAGES ACCRUED AND/OR PAID $ 5,848,635 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,909,256 OFFICE SUPPLIES 266,402 OUTSIDE SERVICES 449,512 REGULATORY COMMISSION 77,302 ASSOCIATION DUES 58,369 DIRECTORS 48,900 ANNUAL MEETING 97,533 CAPITAL CREDITS 25,411 MAINTENANCE OF GENERAL PLANT 27,938 MISCELLANEOUS GENERAL 1,679 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 2,962,302 LESS: RECLASS OF TOWER EXPENSE TO PART VIII, LINE 6B (2,579) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (21,550) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,218,530) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (616,123) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,103,520 |
| FORM 990, PART IX, LINE 4: | PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") 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 PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS 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 PATRONS. 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 PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER 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 CALENDAR TAX 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. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2023 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: OPERATING TAXES $ 18,611 CONSUMER ACCOUNTS 988,992 CUSTOMER SERVICE & INFORMATION 118,293 OTHER DEDUCTIONS 59,414 TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 1,185,310 |
| FORM 990, PART XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 3,056,818. PATRONAGE CAPITAL RETIRED - TOTAL -1,788,088. PATRONAGE CAPITAL RETIRED - DISCOUNT 34,258. NET CHANGE IN MEMBERSHIPS 4,170. OTHER COMPREHENSIVE INCOME - PROVISION FOR PENSIONS AND BENEFITS 100,718. SPECIAL RETIREMENTS -55,534. |
| FORM 990, PART XII, LINE 2: | AUDITED FINANCIAL STATEMENTS WERE PREPARED BY AN INDEPENDENT ACCOUNTANT FOR THE COOPERATIVE'S FINANCIAL STATEMENT AUDIT YEAR-END OF SEPTEMBER 30TH. THE TAX RETURN HAS BEEN AND CONTINUES TO BE PREPARED BASED ON A CALENDAR TAX YEAR-END OF DECEMBER 31. THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. |