2025-04-29T17:11:27-04:00 2023-12-31 590548468 PURVIS GRAY & COMPANY LLP 5001 LAKEWOOD RANCH BLVD STE 101 SARASOTA FL 34240 990 2023-01-01 590395398 PEACE RIVER ELECTRIC COOPERATIVE INC PEAC 8637734116 PO BOX 1310 WAUCHULA FL 33873 RANDALL W SHAW GENERAL MANAGER/CEO 8637734116 2025-04-25 true true TIFFANY MANGOLD CPA P01629230 9419070350 2025-04-25 2023 2025-03-06 01:10:19Z IR2024266 HURRICANES HELENE MILTON RELIEF RANDALL W SHAW PO BOX 1310 WAUCHULA FL 33873 139561148 false X WWW.PRECO.ORG X 1940 FL TO PROVIDE OUR MEMBERS RELIABLE ELECTRIC SERVICE AND EXCELLENT CUSTOMER SERVICE AT AFFORDABLE RATES. 9 9 147 0 0 140463745 139329331 -118355 195965 23200 35264 140368590 139560560 20000 13500 7840177 8153109 1953238 1852865 0 0 130555175 129541086 140368590 139560560 0 346115413 370420180 233734362 248908952 112381051 121511228 TO PROVIDE OUR MEMBERS RELIABLE ELECTRIC SERVICE AND EXCELLENT CUSTOMER SERVICE AT AFFORDABLE RATES. false false PROVIDING ELECTRIC ENERGY TO OUR MEMBERS. 63,377 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. false false false false false false false false false true false true false true true true false false false true false false false false false false true false true false false false true false true false false false false false true false false true 91 0 147 true false false false false false 152406751 7344422 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X RANDALL W SHAW 8637734116 PO BOX 1310 WAUCHULA FL 33873 RANDALL W SHAW GENERAL MANA 50.00 X 376984 0 133295 LOUISE F BLACKMAN VP - MEMBER 45.00 X 224487 0 119167 PAUL A ROBERTS VP OF ENGINE 55.00 X 213329 0 53289 VAN CRAWFORD VP OF OPERAT 50.00 X 183811 0 69679 JAMES FONES VP OF MKTG & 45.00 X 155568 0 65458 TANNER R SMITH LINEMAN FIRS 55.00 X 155291 0 15666 ELLEN BACHMAN DIRECTOR 20.00 X 15300 0 0 MARIE DASHER DIRECTOR 7.00 X 13700 0 0 LEONARD CRAWLEY DIRECTOR 3.00 X 5200 0 7383 BRUCE VICKERS DIRECTOR 4.00 X 10000 0 0 HOLLIS ALBRITTON JR SECRETARY/TR 10.00 X X 9700 0 0 JOHN MARTIN PRESIDENT 4.50 X X 7700 0 0 WILLIE DAWES DIRECTOR 6.00 X 7200 0 0 CHRIS PORTALE ASST SECRETA 3.00 X X 7200 0 0 KENNETH ODEN VICE PRESIDE 2.00 X X 5600 0 0 1391070 463937 43 false true false PIKE ELECTRIC INC PO BOX 746308 ATLANTA GA 30374 UTILITY CONSTRU 6659402 GEORGIA RIGHT-OF-WAY 1135 RUMBLE ROAD FORSYTH GA 31029 TREE MAINTENANC 3887015 STORM SERVICES LLC 3949 HIGHWAY 93 SOUTH THOMASVILLE GA 31792 STORM SERVICES 3486278 SILVEY ENTERPRISES PO BOX 890093 CHARLOTTE NC 28289 UTILITY CONSTRU 2701977 STUART C IRBY CO PO BOX 741001 ATLANTA GA 30384 UTILITY CONSTRU 2053904 13 SALE OF ELECTRICITY 221000 137665126 137665126 CAPITAL CREDITS - OTHER 221000 648166 648166 METER LEASES 221000 625038 625038 POLE RENTAL 221000 391001 391001 139329331 144476 144476 35264 35264 35264 35264 52077 588 51489 51489 51489 139560560 138341653 1218907 13500 8153109 597121 1255744 7203449 11285882 COST OF POWER 87270598 DISTRIBUTION EXPENSE - MA 9616627 ADMINISTRATIVE & GENERAL 6007328 DISTRIBUTION EXPENSE - OP 5395833 2761369 139560560 0 0 0 7871599 2197967 28351187 25678433 16220398 19488487 3243768 148123 390213816 100924970 260083873 289288846 30047379 33289858 297209 328466 346115413 370420180 22481406 11754636 179482538 185950806 17096437 29949411 14673981 21254099 233734362 248908952 X 239515 260255 3810170 4131674 108331366 117119299 112381051 121511228 346115413 370420180 X 0 9130177 X false true X true false 5101627 5101627 349380476 100924970 248455506 35731713 35731713 289288846 PATRONAGE CAPITAL - SECI 22732910 PATRONAGE CAPITAL - GRESCO 5757239 ALL OTHERS 1241889 PATRONAGE CAPITAL - CFC 1174275 PATRONAGE CAPITAL - FEDERATED 761623 CFC CAPITAL TERM CERTIFICATES 654534 PATRONAGE CAPITAL - COBANK 590395 PATRONAGE CAPITAL - SEDC 227330 CTC - CFC 149663 33289858 DEFERRED CREDITS 16057418 CONSUMER DEPOSITS 4735955 POSTRETIREMENT BENEFITS 460726 21254099 X 142630011 3069451 3069451 139560560 139560560 131260518 -8300042 -8300042 139560560 139560560 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE IS CURRENTLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)12 OF THE INTERNAL REVENUE CODE. THE COOPERATIVE IS GENERALLY NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2020. UNDER ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, MANAGEMENT IS REQUIRED TO EVALUATE ITS TAX POSITIONS ON AN ONGOING BASIS AND REQUIRED TO DISCLOSE ANY SUCH POSITIONS THEY BELIEVE COULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS AND RELATED NOTES. MANAGEMENT BELIEVES NO SUCH DISCLOSURES ARE CURRENTLY REQUIRED. SCHEDULE D, PAGE 4, PART XI, LINE 2D EXPENSES NETTED AGAINST REVENUES FOR FS REPORTING -146,932 DIVIDEND ALLOCATED TO COOPERATIVE FROM ASSOC COOPERATIVES: 0 ON ACCRUAL BASIS 3,864,550 ON CASH BASIS -648,166 ROUNDING -1 SCHEDULE D, PAGE 4, PART XII, LINE 2D MARGINS ASSIGNED -8,153,109 EXPENSES NETTED AGAINST REVENUES FOR FS REPORTING -146,932 ROUNDING -1 false CENTRAL AMERICA & THE CARIBBEAN BUSINESS 97826 97826 97826 false false true false false false SCHEDULE F, PAGE 1, PART I, LINE 3 CENTRAL AMERICA & THE CARIBBEAN 63,755 34,071 false LAKEWOOD RANCH HIGH SCHOOL 5500 LAKEWOOD RANCH BLVD BRADENTON FL 34211 596000728 GOV 13500 SCOREBOARD 1 SCHEDULE I, PAGE 4, PART IV SCHEDULE 1, PART II - OTHER ASSISTANCE TO ORGANIZATIONS PEACE RIVER ELECTRIC COOPERATIVE PROVIDES FINANCIAL ASSISTANCE TO WORTHY CAUSES IN THE ORGANIZATION'S SERVICE AREA. X X X false false false RANDALL W SHAW GENERAL MANAGER/CEO 373648 3336 110974 22321 510279 LOUISE F BLACKMAN VP - MEMBER SERVICES 222750 1737 106407 12760 343654 PAUL A ROBERTS VP OF ENGINEERING 209999 3330 29967 23322 266618 VAN CRAWFORD VP OF OPERATIONS 180096 3715 59437 10242 253490 JAMES FONES VP OF MKTG & MBR SVC 154881 687 41082 24376 221026 TANNER R SMITH LINEMAN FIRST CLASS 155205 86 7481 8185 170957 SEMINOLE ELECTRIC COOPERATIVE SEE SCH L, PT V 92420195 PURCHASED POWER false GEORGIA RIGHT OF WAY SEE SCH L, PT V 3887015 RIGHT OF WAY SERVICE false FL ELECTRIC COOPERATIVES ASSOC SEE SCH L, PT V 144559 REGULATORY REPRESENT false NATIONAL RURAL ELECTRIC COOP ASSOC SEE SCH L, PT V 57757 REGULATORY REPRESENT false SCHEDULE L, PART V HOLLIS ALBRITTON, JR, DIRECTOR, ELLEN BACHMAN, DIRECTOR, AND RANDALL SHAW, GENERAL MANAGER/CEO, ALL SERVE ON THE BOARD OF TRUSTEES FOR SEMINOLE ELECTRIC COOPERATIVE, INC. RANDALL SHAW,GENERAL MANAGER/CEO, SERVES ON THE BOARD OF DIRECTORS FOR GEORGIA RIGHT OF WAY. MARIE DASHER, DIRECTOR, ELLEN BACHMAN, DIRECTOR, AND RANDALL SHAW, GENERAL MANAGER/CEO, ALL SERVE ON THE BOARD OF DIRECTORS FOR FLORIDA ELECTRIC COOPERATIVES ASSOCIATION, INC. RANDALL SHAW,GENERAL MANAGER/CEO, SERVES ON THE BOARD OF DIRECTORS OF NATIONAL RURAL ELECTRIC COOPERATIVES ASSOCIATION, INC. FORM 990 FORM 990, PART IX, LINE 4 - BENEFITS PAID TO OR FOR MEMBERS THE IRS' INSTRUCTIONS FOR THE 2023 VERSION OF FORM 990, PART IX, LINE 4 STATE: "ENTER THE PAYMENTS MADE BY THE ORGANIZATION TO PROVIDE BENEFITS TO MEMBERS (...PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS)". STATEMENT OF FUNCTIONAL EXPENSES, LINE 4 IS ENTITLED "BENEFITS PAID TO OR FOR MEMBER." SIGNIFICANT INDUSTRY- WIDE DISCUSSIONS BEGAN REGARDING THE NEED FOR THE IRS' CLARIFICATION AND WHETHER "PATRONAGE DIVIDENDS PAID" MEANS CAPITAL CREDITS ALLOCATED, CAPITAL CREDITS RETIRED OR SOME OTHER AMOUNT. FOR THE PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT OF 2023 CAPITAL CREDITS ALLOCATED. THIS AMOUNT WAS APPROVED BY THE BOARD OF DIRECTORS DURING THE SPRING OF 2023. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION IS ORGANIZED AS NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND OPERATES AS AN ELECTRIC DISTRIBUTION COOPERATIVE. IT IS A MEMBERSHIP ORGANIZATION AND ALL MEMBERS HAVE IDENTICAL RIGHTS UNDER THE COOPERATIVE'S ORGANIZATIONAL DOCUMENTS AND THE STATUTES OF THE STATE OF FLORIDA. FORM 990, PAGE 6, PART VI, LINE 7A UNDER THE COOPERATIVE'S ORGANIZING DOCUMENTS AND THE LAWS OF THE STATE OF FLORIDA, THERE IS ONLY ONE CLASS OF MEMBERSHIP. ANY PERSON OR BUSINESS WITHIN THE GEOGRAPHIC SERVICE AREA OF THE COOPERATIVE IS ELIGIBLE TO BECOME A MEMBER UPON APPLICATION AND PAYMENT OF THE MEMBERSHIP FEE. THE MEMBERS VOTE IN ELECTIONS OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B CHANGES MADE TO THE BYLAWS OF THE ORGANIZATION MUST BE APPROVED BY THE MEMBERS OF THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B IRS FORM 990 IS REVIEWED BY THE GENERAL MANAGER/CEO OF THE COOPERATIVE. BEFORE THE FORM 990 IS FILED WITH THE IRS, A COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY INTERESTS THAT COULD LEAD TO A CONFLICT OF INTEREST EACH YEAR ON A QUESTIONNAIRE PROVIDED BY THE COOPERATIVE. MANAGEMENT REVIEWS THE RESPONSES TO EACH OF THE QUESTIONNAIRES. FORM 990, PAGE 6, PART VI, LINE 15A EACH YEAR THE BOARD OF DIRECTORS REVIEWS THE NRECA COMPENSATION STUDY WHICH REPRESENTS COMPENSATION FOR 900 ELECTRIC COOPERATIVES. THE BOARD USES THE DATA IN THE COMPENSATION STUDY AS WELL AS THE RECOMMENDATIONS OF AN INDEPENDENT CONSULTANT TO DETERMINE THE COMPENSATION OF THE GENERAL MANAGER/CEO. THE FINAL COMPENSATION IS THEN APPROVED BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE MINUTES OF THE MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B THE CEO USES THE NRECA COMPENSATION SURVEY OF 900 ELECTRIC COOPERATIVES AS WELL AS THE RECOMMENDATIONS OF AN INDEPENDENT CONSULTANT TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE FINANCIAL STATEMENTS ARE INCLUDED IN THE ORGANIZATION'S ANNUAL REPORT WHICH IS SENT OUT TO THE MEMBERSHIP OF THE ORGANIZATION AND IS ALSO MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. CORPORATE BYLAWS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. ANY OTHER GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 DIVIDEND ALLOCATED TO COOPERATIVE FROM ASSOC COOP 0 ON ACCRUAL BASIS 3,864,550 ON CASH BASIS -648,166 MARGINS ASSIGNED 8,153,109 INCREASE IN OTHER EQUITIES 321,504 INCREASE IN MEMBERSHIP 20,740 CAPITAL CREDITS RETIRED -2,561,465 DECREASE IN ACCUM POST RETIREMENT BENEFITS -20,095 TOTAL 9,130,177 PEACE RIVER COOPERATIVE CHARITABLE FOUNDATION INC PO BOX 1310 WAUCHULA FL 338731310 204064056 SEE PT VII FL 501C3 7 NA false false true false false false false false false false false false false false true true false true true false SCHEDULE R SCHEDULE R, PART II, COLUMN (B): THE FOUNDATION DISBURSES FUNDS TO INDIVIDUALS AND ORGANIZATIONS FOR NEEDS RELATED TO FOOD, SHELTER, CLOTHING, HEALTH NEEDS, ENVIRONMENTAL AND EDUCATION.