TOUCHSTONE ENERGY COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- TOUCHSTONE ENERGY COOPERATIVE INC (EIN 54-1978503)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-13
- IRS object ID
- 202423189349300617
- 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 | 2024-11-13T05:44:59-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8401 GREENSBORO DRIVE 800 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22102 | 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 | 541978503 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TOUCHSTONE ENERGY COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % DIGNA LOUIS C/O NRECA | InCareOfNm |
| Business Name Control | TOUC | BusinessNameControlTxt |
| Phone | 7039076354 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 WILSON BOULEVARD | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 222031860 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DIGNA LOUIS | PersonNm |
| Person Title | ASST SECR./TREASURER | PersonTitleTxt |
| Phone | 7039075952 | PhoneNum |
| Signature | 2024-11-13 | 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 | Marc Berger | PreparerPersonNm |
| PTIN | P01871563 | PTIN |
| Phone | 7038930600 | PhoneNum |
| Preparation | 2024-04-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JANA ADAMS | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 WILSON BOULEVARD | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 222031860 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,358,287 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | https://touchstoneenergy.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 103 | TotalVolunteersCnt |
| Total Gross UBI | $12,382 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $9,467,737 | PYContributionsGrantsAmt |
| CY Contributions Grants | $9,205,861 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $616,895 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $674,758 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$46,226 | PYInvestmentIncomeAmt |
| CY Investment Income | $272,916 | CYInvestmentIncomeAmt |
| PY Other Revenue | $50,114 | PYOtherRevenueAmt |
| CY Other Revenue | $161,092 | CYOtherRevenueAmt |
| PY Total Revenue | $10,088,520 | PYTotalRevenueAmt |
| CY Total Revenue | $10,314,627 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,176,132 | PYOtherExpensesAmt |
| CY Other Expenses | $11,174,221 | CYOtherExpensesAmt |
| PY Total Expenses | $10,176,132 | PYTotalExpensesAmt |
| CY Total Expenses | $11,174,221 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$87,612 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$859,594 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $13,508,349 | TotalAssetsBOYAmt |
| Total Assets EOY | $11,264,474 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,444,071 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $3,963,912 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $8,064,278 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,300,562 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TOUCHSTONE ENERGY IS A NATIONAL NETWORK OF ELECTRIC COOPERATIVES THAT PROVIDES PROGRAMS AND RESOURCES THAT HELP ITS MEMBERS STRENGTHEN RELATIONSHIPS WITH THEIR MEMBER/OWNERS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | CONDUCTED RESEARCH AND DELIVERED EDUCATION PROGRAMS FOR MEMBERSHIP - IN 2023 TSEC PROVIDED THE MEMBERSHIP WITH THE BEST PRACTICE RESEARCH DOCUMENTS, PROGRAMS TO ASSESS MEMBER SATISFACTION, AND EDUCATIONAL EVENTS TO HELP IMPROVE MEMBER SATISFACTION AND ENGAGEMENT. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROVIDED VALUABLE MEMBERS BENEFITS - IN 2023, THE TSEC CO-OP WEB BUILDER PROGRAM FOCUSED ON IMPROVING THE QUALITY AND SECURITY OF THE CONTENT MANAGEMENT SYSTEM. MEMBER WEBSITES WERE CONVERTED TO AN UPDATED CMS VERSION AND ADDITIONAL SECURITY MEASURES WERE PUT IN PLACE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | STRENGTHENED BRAND AWARENESS AMONG CONSUMERS - IN 2023, TSEC PROMOTED ELECTRIC COOPERATIVE MEMBERS AS THE TRUSTED AND CONSISTENT SOURCE FOR ENERGY AND INFORMATION THROUGH NATIONAL, REGIONAL AND LOCAL COMMUNICATION AND EDUCATION CAMPAIGNS. VIDEO, RADIO, PRINT, DIGITAL AND OTHER METHODS WERE USED TO IMPROVE THE VISIBILITY AND AWARENESS OF THE COOPERATIVE DIFFERENCE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (true) | SubjectToProxyTaxInd |
| 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 | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | 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 | false | 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 | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | 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 | false | CompensationProcessCEOInd |
| Compensation Process Other | false | 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 | DIGNA LOUIS CO NRECA | PersonNm |
| Phone | 7039076554 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 WILSON BLVD | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22203 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| Deborah Mirasola | |||||||
| Board President | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Tim McCarthy | |||||||
| Board President(AS OF 03/23) | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Jim Gossett | |||||||
| Board VP (AS OF 03/23) | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Kevin Bernson | |||||||
| Board Sec/Treasurer(THRU 3/23) | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Marty Lasure | |||||||
| Board Sec/Treas(AS OF 3/23) | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Jack Bragg | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Van O' Cain | |||||||
| Director (AS OF 4/23) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Bill Conley | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Lou Green | |||||||
| Director (THRU 4/23) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Martin Haught | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Dick Johnson | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Jeremy Richert | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Douglas Tracy | |||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Mike Wilson | |||||||
| Director(AS OF 3/23) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Amy Rosier | |||||||
| At-Large Officer(AS OF 3/23) | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Jana Adams | |||||||
| Executive Director | 40.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Jeffrey Connor | |||||||
| Second Vice President | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Jessica Healy | |||||||
| Assistant Secretary | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Digna Louis | |||||||
| Assistant Treasurer | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | 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 |
|---|---|---|---|---|---|
| NRECA | |||||
| 4301 WILSON BLVD | ARLINGTON | VA | 22203 | MANAGEMENT SVCS | $4,579,660 |
| TARGETCAST LLC | |||||
| PO BOX 735150 | CHICAGO | IL | 60673 | ADVERTISING AGENCY | $2,651,507 |
| HARVEST CREATIVE SERVICES | |||||
| 1011 N WASHINGTON AVENUE | LANSING | MI | 48906 | ADVERTISEMENT PROD. | $701,871 |
| Rackspace US Inc | |||||
| 1 Fanatical Pl | WINDCREST | TX | 78218 | IT & Software Prog. | $397,097 |
| LinkedIn Corporation | |||||
| 62228 Collections Center Dr | CHICAGO | IL | 60693 | Prof Dev. Content | $385,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 11 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $9,205,861 | MembershipDuesAmt |
| Total Contributions | $9,205,861 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| SPONSORSHIP REVENUE & REGISTRATION FEES | 541990 | $546,410 | $546,410 | |
| REIMBURSED COST | 541990 | $25,410 | $25,410 | |
| CO-OP CONNECTIONS PROGRAM | 541990 | $102,938 | $90,556 | $12,382 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $674,758 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $316,576 | TotalRevenueColumnAmt |
| Exclusion | $316,576 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,103 | TotalRevenueColumnAmt |
| Exclusion | $42,103 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $43,660 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$43,660 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$43,660 | TotalRevenueColumnAmt |
| Exclusion | -$43,660 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| SHIPPING REVENUE | 900099 | $5,406 | $5,406 |
| MISCELLANEOUS INCOME | 900099 | $113,583 | $113,583 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $118,989 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,314,627 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $662,376 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $12,382 | UnrelatedBusinessRevenueAmt |
| Exclusion | $434,008 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,892,075 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,769 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,583 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,179 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,914,800 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $92,475 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,095,966 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $210,087 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $212,824 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $891,967 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $142,107 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,394 | TotalAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| RESEARCH | $382,731 |
| CONTRACTED PERSONNEL | $49,554 |
| ALL OTHER EXPENSES | $173,710 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,174,221 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,668,066 | BOYAmt |
| EOY | $10,476,217 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $497,226 | BOYAmt |
| EOY | $581,058 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,268,014 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,060,815 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $343,057 | BOYAmt |
| EOY | $207,199 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,508,349 | BOYAmt |
| EOY | $11,264,474 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $606,118 | BOYAmt |
| EOY | $92,722 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,837,953 | BOYAmt |
| EOY | $3,871,190 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,444,071 | BOYAmt |
| EOY | $3,963,912 | 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 | $0 | BOYAmt |
| EOY | $0 | 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 | $8,064,278 | BOYAmt |
| EOY | $7,300,562 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,064,278 | BOYAmt |
| EOY | $7,300,562 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,508,349 | BOYAmt |
| EOY | $11,264,474 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$859,594 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $95,878 | NetUnrlzdGainsLossesInvstAmt |
| 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbyingGrp | |
| Total Direct Lobbying | TotalDirectLobbyingGrp | |
| Total Lobbying Expend | TotalLobbyingExpendGrp | |
| Other Exempt Purpose Expend | OtherExemptPurposeExpendGrp | |
| Total Exempt Purpose Expend | TotalExemptPurposeExpendGrp | |
| Lobbying Nontaxable Amount | LobbyingNontaxableAmountGrp | |
| Grassroots Nontaxable | GrassrootsNontaxableGrp | |
| Tot Lbbyng Grassroot Mns Non Tx | TotLbbyngGrassrootMnsNonTxGrp | |
| Tot Lbby Expend Mns Lbbyng Non Tx | TotLbbyExpendMnsLbbyngNonTxGrp | |
| Substantially All Dues Nonded | false | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | Yes (true) | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | false | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $260,390 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $223,580 | DepreciationAmt |
| Book Value | $36,810 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $1,007,624 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $837,235 | DepreciationAmt |
| Book Value | $170,389 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Land Buildings | OtherLandBuildingsGrp | |
| Total Book Value Land Buildings | $207,199 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,410,505 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $95,878 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $95,878 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,314,627 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $10,314,627 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,174,221 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $11,174,221 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $11,174,221 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | TSEC HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, TSEC MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. TSEC HAS ANALYZED ITS TAX POSITIONS TAKEN ON TAX RETURNS FOR ALL OPEN TAX YEARS AND HAS CONCLUDED THAT NO ADDITIONAL PROVISION OR BENEFIT EXISTS AND NO AMOUNTS ARE RECORDED FOR INTEREST OR PENALTIES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: | TOUCHSTONE ENERGY COOPERATIVE, INC. HELPS ITS MEMBERS STRENGTHEN THEIR RELATIONSHIPS WITH THEIR MEMBER-OWNERS. IT IS A NATIONAL NETWORK OF ELECTRIC COOPERATIVES ACROSS 46 STATES THAT PROVIDES RESEARCH, COMMUNICATIONS RESOURCES, AND EMPLOYEE TRAINING PROGRAMS TO HELP MEMBER COOPERATIVES BETTER ENGAGE AND SERVE THEIR MEMBERS. AS A RESULT, TOUCHSTONE ENERGY MEMBERS ARE POSITIONED TO ACHIEVE SUPERIOR MEMBER-OWNER SATISFACTION AND ENGAGEMENT TO STRENGTHEN THE MEMBER COOPERATIVE, THE COMMUNITY THEY SERVE, AND THE ELECTRIC COOPERATIVE COMMUNITY AT LARGE. THROUGH ACCESS TO TARGETED PROGRAMS AND A UNIFYING, NATIONAL BRAND, TOUCHSTONE ENERGY COOPERATIVES STAND OUT AS A TRUSTED SOURCE OF POWER AND INFORMATION TO THEIR 30 MILLION MEMBER-OWNERS EVERY DAY. |
| FORM 990, PART VI, SECTION A, LINE 1A: | THE BOARD HAS AN EXECUTIVE COMMITTEE MADE UP OF THE PRESIDENT, VICE PRESIDENT, SECRETARY/TREASURER, SECOND VICE PRESIDENT, IMMEDIATE PAST PRESIDENT IF STILL A DIRECTOR, AND AN AT-LARGE DIRECTOR ELECTED BY THE BOARD. THE EXECUTIVE COMMITTEE IS AUTHORIZED TO APPROVE NON-BUDGETED EXPENSES UP TO $200,000. THE SECOND VICE PRESIDENT IS A NON-VOTING MEMBER OF THE COMMITTEE. |
| FORM 990, PART VI, SECTION A, LINE 3: | TSEC HAS A WRITTEN AGREEMENT WITH NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA), A SEPARATE NON-PROFIT ORGANIZATION, TO PROVIDE ADMINISTRATIVE AND MANAGEMENT SERVICES TO TSEC. |
| FORM 990, PART VI, SECTION A, LINE 6: | THE MEMBERS OF TSEC ARE: 1) FULL MEMBERS, 2) REGIONAL MEMBERS, AND 3) ANY OTHER TYPES OR CLASSES OF MEMBERSHIP ("ASSOCIATE MEMBERS"), WITH RESPECTIVE RIGHTS, RESPONSIBILITIES, AND DUES AS THE BOARD OF DIRECTORS MAY FROM TIME TO TIME ESTABLISH IN THE BEST INTEREST OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 7A: | TSEC HAS 13 BOARD MEMBERS. THEY ELECT A PRESIDENT, VICE-PRESIDENT, SECRETARY/TREASURER, ASSISTANT TREASURER, ASSISTANT SECRETARY, SECOND VICE-PRESIDENT AND AN OFFICER AT-LARGE. |
| FORM 990, PART VI, SECTION A, LINE 7B: | THE ORGANIZATION IS INCORPORATED UNDER THE VIRGINIA COOPERATIVE ASSOCIATIONS AND NON-STOCK CORPORATIONS' ACTS. UNDER THE ORGANIZATION'S ARTICLES OF INCORPORATION AND BYLAWS, THERE ARE THREE CLASSES OF MEMBERS: FULL MEMBERS, REGIONAL MEMBERS AND ASSOCIATE MEMBERS. FULL MEMBERS AND REGIONAL MEMBERS HAVE VOTING RIGHTS. UNDER NON-STOCK CORPORATION ACT, THE MEMBERS OF THE ORGANIZATION MUST APPROVE A PLAN OF MERGER RECOMMENDED BY THE BOARD OR A BOARD PROPOSAL TO DISSOLVE THE ORGANIZATION. ADDITIONALLY, THE ORGANIZATION'S BYLAWS REQUIRE THAT AN AMENDMENT OR REPEAL OF ANY BYLAW MUST BE APPROVED BY A TWO-THIRDS MAJORITY VOTE OF THE VOTING MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B: | THE DIRECTOR OF CORPORATE ACCOUNTING AND CHIEF FINANCIAL OFFICER REVIEW THE FORM 990 AND SUPPORTING WORK PAPERS IN DETAIL. THE FORM 990 IS THEN PROVIDED TO THE TSEC BOARD OF DIRECTORS THROUGH THEIR ELECTRONIC PORTAL AND ALSO BY EMAIL FOR THEIR REVIEW AND COMMENT IN ADVANCE OF THE RETURN BEING TOUCHSTONE ENERGY COOPERATIVE, INC. 54-1978503 FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C: | THE POLICY IS MONITORED AND ENFORCED BY REVIEW OF THE ANNUAL CONFLICTS DISCLOSURE FORMS SUBMITTED BY EACH BOARD MEMBER. ADDITIONALLY, LEGAL COUNSEL REVIEWS THE REQUIREMENTS OF THE POLICY WITH THE BOARD AT LEAST ANNUALLY AND IS AVAILABLE FOR QUESTIONS REGARDING POTENTIAL CONFLICTS AND POLICY INTERPRETATION AT ANY TIME. FURTHER, REGARDING THE POLICY: --THE CONFLICT OF INTEREST POLICY APPLIES TO THE BOARD MEMBERS. --ACTUAL CONFLICTS ARE REVIEWED BY THE BOARD PRESIDENT WITH THE ASSISTANCE OF LEGAL COUNSEL. --RESTRICTIONS THAT MAY BE IMPOSED IN THE EVENT OF AN ACTUAL CONFLICT, DEPEND ON THE MAGNITUDE OF THE CONFLICT AND INCLUDE: PROHIBITING THE BOARD MEMBER WITH THE CONFLICT FROM PARTICIPATING IN THE DELIBERATIONS AND RECUSAL FROM VOTING. |
| FORM 990, PART VI, SECTION B, LINE 15: | SINCE TSEC DOES NOT HAVE ANY EMPLOYEES, TSEC DOES NOT HAVE A COMPENSATION DETERMINATION PROCESS. THE BOARD OF DIRECTORS DOES APPROVE THE ANNUAL EXPENSES PAID TO ITS OUTSIDE MANAGEMENT COMPANY VIA THEIR ANNUAL BUDGET REVIEW AND APPROVAL PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19: | TSEC DISTRIBUTES ITS AUDITED FINANCIAL STATEMENTS AND ANNUAL FORM 990 TAX RETURNS TO THE TSEC BOARD OF DIRECTORS. TSEC MAKES THE FORM 990 AVAILABLE ON THE MEMBER-ONLY SECTION OF COOPERATIVE.COM. THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY WITH BOARD MEMBERS. |