2023-04-17T14:10:44-04:00 2022-12-31 581094351 MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC POST OFFICE BOX ONE MACON GA 312020001 990 2022-01-01 580465897 DIVERSE POWER INCORPORATED DIVE 7068452000 1400 SOUTH DAVIS ROAD LAGRANGE GA 30241 R WAYNE LIVINGSTON PRESIDENT/CEO 7068452000 2023-04-17 true RALPH LIVINGSTON XXX-XX-XXXX false WILLIAM R ROUNTREE P01231836 4787466277 2023-04-17 2022 2023-04-26 12:10:37Z ATTN ANDREW KILGORE R WAYNE LIVINGSTON 1400 SOUTH DAVIS ROAD LAGRANGE GA 30241 117829336 false X SEE SCHEDULE O X 1936 GA TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. 10 10 143 0 0 97313349 117621137 245472 95026 113173 97558821 117829336 0 1602351 9372763 726161 758944 0 0 95964527 107697629 98293039 117829336 -734218 0 217553000 239882222 145448008 161164529 72104992 78717693 X TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. false false N/A TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. false false false false false false false false false true false true false true false true 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 35 0 true 143 true false false false false false 113956334 835001 false false false X 10 10 false false false false true true true true true false false true true true true true true true true false GA X ANDREW KILGORE 7068452000 1400 SOUTH DAVIS RD LAGRANGE GA 30241 CHARLES KNIGHT CHAIRMAN 5.00 X X 28400 0 0 WILLIAM COUCH VICE CHAIRMA 5.00 X X 27800 0 0 KIM CURRY SECRETARY 5.00 X X 28100 0 0 ROY TOLLERSON JR DIRECTOR 4.00 X 25000 0 0 JIMMY G BAILEY DIRECTOR 4.00 X 27200 0 0 LARRY KEITH DIRECTOR 4.00 X 26400 0 0 HARRELL LANDRETH DIRECTOR 4.00 X 24600 0 0 DAVID MURPHY DIRECTOR 4.00 X 23100 0 0 RICHARD WILLIAMS DIRECTOR 4.00 X 27500 0 0 LARRY WILLIAMSON DIRECTOR 4.00 X 26400 0 0 R WAYNE LIVINGSTON PRESIDENT/CE 40.00 X 434708 0 59736 RANDY SHEPARD SVP-CBO 40.00 X 304498 0 67544 ANDREW KILGORE SVP-CFO 40.00 X 206372 0 56045 JAMIN BLAIR SVP-CENGO 40.00 X 205566 0 83550 CHARLES REDMOND VP-STAKING & 40.00 X 173689 0 51805 STEVE TITTLE VP- IT 40.00 X 163401 0 50699 1752734 369379 36 false true false LEE ELECTRICAL CONSTRUCTION PO BOX 55 ABERDEEN NC 28315 LINE CONST. 1420258 MAX ENGINEERING AND UTILITY CONSTRUC 5103 HAYNES CT COVINGTON GA 30014 FIBER CONSTRUCT 806570 MAX TELECOMMUNICATIONS PO BOX 4364 COLUMBUS GA 31914 FIBCONSTRUCTION 366178 PROGRESSIVE SOLUTIONS PO BOX 825124 PHILADELPHIA PA 19182 ROW SPRAYING 315532 DEAN'S COMMERICAL TWO-WAY PO BOX 489 CATAULA GA 31804 COMM. SUPPORT 186302 5 ELECTRIC REVENUE 221000 113956334 113956334 OTHER CAPITAL CREDITS 221000 2203375 2203375 POLE RENTAL 221000 1461428 1461428 117621137 95026 95026 GAIN ON DISPOSITION OF PROPER 221000 113173 113173 113173 117829336 117829336 9372763 758944 6039155 9799251 PURCHASED POWER 71791859 DISTRIBUTION MAINTENANCE 8441482 ADMIN. & GENERAL EXP. 3200873 CONSUMER ACCOUNTS 2778205 5646804 117829336 0 0 0 1838850 4156518 11250604 15083915 3559673 5924394 807295 669747 296172505 102490783 181276302 193681722 100000 100000 17407920 18974893 1312356 1291033 217553000 239882222 9178035 10860224 127954891 139006991 8315082 11297314 145448008 161164529 X 142952 143997 71962040 78573696 72104992 78717693 217553000 239882222 X 0 6612701 X false true X true false 2688972 2688972 293483533 102490783 190992750 193681722 GTC 5567323 C GRESCO 3253014 C COBANK 2860879 C GA ROW 2400453 C CFC 1370994 C GA TRANSMISSION 943442 C CTC'S 766710 C SMARR EMC 581316 C CFC MEMBER CAPITAL SECURITIES 500000 C FEDERATED 407510 C SEDC 249114 C OTHER 74138 C 18974893 ACCUM PROV FOR PENSION & BENEFITS 4105684 REGULATORY LIABILITES - ASC 980 4000000 CONSUMER DEPOSITS 1900597 DEFERRED COMPENSATION 1291033 11297314 113829336 -4000000 -4000000 117829336 117829336 108456573 108456573 9372763 9372763 117829336 SCHEDULE D, PAGE 4, PART XI, LINE 2D DEFERRED REVENUE - ASC 980 -4,000,000 GEMC 220, LLC BOOK/TAX DIFFERENCE 0 SCHEDULE D, PAGE 4, PART XII, LINE 4B BENEFITS PAID TO MEMBER CAPITAL ACCOUNTS 9,372,763 X X X X X false false false R WAYNE LIVINGSTON PRESIDENT/CEO 389668 4225 40815 36600 23136 494444 RANDY SHEPARD SVP-CBO 287938 3283 13277 36128 31416 372042 ANDREW KILGORE SVP-CFO 197087 2350 6935 25679 30366 262417 JAMIN BLAIR SVP-CENGO 195125 2410 8031 53096 30454 289116 CHARLES REDMOND VP-STAKING & ROW 164778 2112 6799 21508 30297 225494 STEVE TITTLE VP- IT 160691 2162 548 20706 29993 214100 FORM 990 WEBSITE: HTTP://WWW.DIVERSEPOWER.COM/ FORM 990, PAGE 2, PART III, LINE 4D TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7A THE COOPERATIVE HAS MEMBERS WHICH ELECT MEMBERS OF THE GOVERNING BODY AS PROVIDED FOR IN ITS BYLAWS. THE BYLAWS ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS AS PROVIDED FOR IN ITS BYLAWS WHICH ARE INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS REVIEWED BY THE BOARD AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THEIR CONFLICT OF INTEREST POLICY AS PROVIDED FOR IN ITS POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION FOR THE CEO IS REVIEWED AND APPROVED AS PROVIDED FOR IN THE COOPERATIVE'S POLICY WHICH IS INCLUDED AS A PART OF THIS RETURN. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES IS REVIEWED AND APPROVED THROUGH THE USE OF A PERFORMANCE REVIEW CONDUCTED BY THE CEO AS PRESCRIBED BY THE COOPERATIVE'S WAGE AND SALARY PLAN. FORM 990, PAGE 6, PART VI, LINE 19 THE COOPERATIVE MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC AS PART OF ITS FORM 990. THE FORM 990 IS AVAILABLE UPON REQUEST AS REFLECTED IN PART VI SECTION C LINE 18. FORM 990, PART XI, LINE 9 CHANGE IN MEMBERSHIPS 1,045 BENEFITS PAID TO MEMBER CAPITAL ACCOUNTS 9,372,763 DONATED CAPITAL 248,821 OTHER COMPREHENSIVE 1,467,991 OTHER INCREASES 41,172 CAPTIAL CREDITS - RETIRED -519,091 DFD REVENUE UNDER ASC 980 -4,000,000 TOTAL 6,612,701 KUDZU NETWORKS INC 1400 SOUTH DAVIS RD LAGRANGE GA 30241 582251441 COMMUNICAT GA DIV POWER C CORP -791539 3282570 1.00000 true false false false true false false false false false false false false false false true false true false false KUDZU NETWORKS INC D 5000000 FMV KUDZU NETWORKS INC Q 1451135 COST SCHEDULE R STATE OF GEORGIA SENATE BILL 2 (GEORGIA LAW), WHICH AMENDED CHAPTER 3 OF TITLE 46, ALLOWS ELECTRIC MEMBERSHIP CORPORATIONS TO ENGAGE IN CERTAIN ACTIVITIES IN ORDER TO FACILITATE THE PROVISION OF BROADBAND SERVICES; TO SPECIFICALLY AUTHORIZE ELECTRIC MEMBERSHIP CORPORATIONS AND THEIR AFFILIATES TO PROVIDE BROADBAND SERVICES; TO PROVIDE FOR AND REVISE DEFINITIONS; TO AUTHORIZE CERTAIN FINANCING AND PARTNERSHIPS FOR THE PROVISION OF BROADBAND SERVICES. AS SUCH, KUDZU NETWORKS, INC. (KUDZU) IS A WHOLLY-OWNED SUBSIDIARY OF DIVERSE POWER,INC (DIVERSE). KUDZU IS A PROVIDER OF RETAIL BROADBAND SERVICES. DIVERSE AND KUDZU OPERATE THROUGH A COST ALLOCATION MANUAL APPROVED BY THE GEOGIA PUBLIC SERVICE COMMISSION. THE COST ALLOCATION MANUAL IS DESINGED TO PREVENT CROSS-SUBSIDIZATION BETWEEN THE DIVERSE'S ELECTRIC OPERATIONS AND THE RETIAL BROADBAND OPERATIONS OF KUDZU. KUDZU'S MANAGEMENT COMMITTEE IS MADE UP OF DIVERSE'S EXECUTIVE MANAGEMENT. DIVERSE BOARD MEMBERS SERVE AS GOVERNANCE FOR KUDZU. LOAN GUARANTY: DIVERSE HAS A 20M CREDIT FACILITY WITH A LENDER. 5M OF THE LOAN COMMITMENT IS ALLOCATED TO KUDZU AND GUARANTEED BY DIVERSE. THE AMOUNT OUTSTANDING ON KUDZU'S PORTION OF THE CREDIT FACILITY WAS 5M AS OF DECEMBER 31, 2022. KUDZU ALSO HAS A 500,000 LINE-OF-CREDIT WITH THE LENDER, WHICH IS ALSO GUARANTEED BY DIVERSE. THE LINE-OF-CREDIT DID NOT HAVE AN OUTSTANDING BALANCE AT DECEMBER 31, 2022.