2023-08-30T13:28:08-05:00 2022-12-31 721396621 CARR RIGGS & INGRAM LLC 1117 BOLL WEEVIL CIRCLE ENTERPRISE AL 36330 990 2022-01-01 590504115 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION INC WEST 8502633231 PO BOX 127 GRACEVILLE FL 32440 SHAWN WALLING EXECUTIVE VICE PRESIDENT & CEO 8502633231 2023-08-25 1 SHAWN WALLING 999009999 0 BRUCE AVERETT P01352375 3343470088 2023-08-25 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SHAWN WALLING PO BOX 127 GRACEVILLE FL 32440 72691010 0 X WWW.WFECA.COM X 1937 FL WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 9 9 109 0 157706 0 0 0 61097785 71618359 37988 39054 2921047 1033597 64056820 72691010 0 0 0 0 2619476 2770250 0 0 0 56369221 63609808 58988697 66380058 5068123 6310952 164513750 167263194 83009688 79540851 81504062 87722343 X WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 0 0 61097906 PROVIDING ELECTRICITY TO MEMBERS 61097906 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 55 0 1 109 1 1 1 0 0 0 0 0 0 71618359 924626 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X SHAWN WALLING 8502633231 PO BOX 127 GRACEVILLE FL 32440 JACKIE POOSER DIRECTOR 2.00 X 19562 0 0 JOHN W ADAMS DIRECTOR 2.00 X 20534 0 0 GEORGE OWENS DIRECTOR 2.00 X 19675 7201 0 DAVID CORBIN VICE PRESIDENT 2.00 X 14650 0 0 JOE RONE PRESIDENT 2.00 X 19200 13602 0 MYRON HUDSON DIRECTOR 2.00 X 24874 0 0 TIM ALFORD DIRECTOR 2.00 X 18737 0 0 RANDY BUSH SECRETARY-TREASURER 2.00 X 16050 0 0 DAVID TATUM DIRECTOR 2.00 X 18608 0 0 JAMES T PEEL FORMER EXECUTIVE VP & CEO 40.00 X 185248 16702 41334 MARIE ASHWORTH CFO 40.00 X 142608 0 20437 SHAWN WALLING EXECUTIVE VP & CEO 40.00 X 0 0 0 KEITH VARNUM MANAGER - ENGINEERING 40.00 X 136142 0 20045 WAYNE WILLIAMS V.P. OF OPERATIONS 40.00 X 117436 0 19806 DEREK CHADWELL VP OF MEMBER SERVICES 40.00 X 109937 6001 -33421 DONNIE WORLEY SAFETY MANAGER 40.00 X 112730 0 19761 JASON BLANTON KEY EMPLOYEE 40.00 X 117305 0 -30521 JONATHAN T LOVE KEY EMPLOYEE 40.00 X 113834 0 19294 KEVIN NELSON KEY EMPLOYEE 40.00 X 108668 0 -35925 1315798 43506 40810 9 0 1 0 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 RIGHT OF WAY SERVICES 2131362 MUSGROVE CONSTRUCTION LLC 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 CONSTRUCTION 1567441 MERIDIAN COOPERATIVE 100 ASHFORD CENTER N ATLANTA GA 30338 UTILITY TECHNOLOGY COMPANY 961141 DCMC LLC 515 BRAXTON PLACE ALEXANDRIA VA 22301 DISASTER CONSULTING 203422 4 ELECTRIC SALES 221000 71618359 71618359 71618359 39054 39054 G&T AND OTHER CAPITAL CREDITS 221000 875891 875891 NON UTILITY OPERATIONS 900099 157706 157706 1033597 72691010 72533304 157706 0 1912868 857382 395674 921066 91988 30699 2376719 5022887 COST OF POWER 42656971 DISTRIBUTION OPERATIONS 4006167 DISTRIBUTION MAINTENANC 3085875 RETIREMENT OF CAPITAL C 1568373 3453389 66380058 2341214 2214473 23485812 22457636 6069940 5362419 364113 441544 154871742 48312776 102603142 106558966 26785746 27502361 2863783 2725795 164513750 167263194 5565108 6837217 500000 500000 74472719 69560959 2471861 2642675 83009688 79540851 X 145425 147735 0 0 81358637 87574608 81504062 87722343 164513750 167263194 X 6310952 -92671 X 0 1 X 1 0 107212 107212 4972869 4972869 148759385 48312776 100446609 1032276 1032276 106558966 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 27502361 C 27502361 CONSUMER DEPOSITS 1898546 DEFERRED CREDITS 381399 DEFERRED COMPENSATION 362730 2642675 X 72691010 0 72691010 0 72691010 66528083 148025 148025 66380058 0 66380058 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE ON ANY INCOME RELATED TO ITS EXEMPT PURPOSE. THE COOPERATIVE INCURS UNRELATED BUSINESS TAXABLE INCOME (UBTI) UNDER THE CODE ON CERTAIN REVENUE STREAMS. THERE ARE NO PROVISIONS FOR INCOME TAXES FOR 2022 OR 2021. THE COOPERATIVE HAS A NET OPERATING LOSS CARRYFORWARD OF $390,738 TO OFFSET FUTURE TAXABLE INCOME AS OF DECEMBER 31, 2022. THE COOPERATIVE UTILIZES THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISION OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. SUCH TAX POSITIONS INITIALLY AND SUBSEQUENTLY NEED TO BE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY ASSUMING FULL KNOWLEDGE OF THE POSITION AND RELEVANT FACTS. THE COOPERATIVE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS AND THAT ITS ACCRUALS FOR TAX LIABILITIES, IF ANY, ARE ADEQUATE FOR ALL OPEN TAX YEARS (AFTER 2017 FOR FEDERAL AND STATE) BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE COOPERATIVE EVALUATED ITS INCOME TAX POSITIONS ON AN ANNUAL BASIS. MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2022 AND 2021 THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS IN INCOME TAX EXPENSE IF INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR TAX PERIODS BEFORE 2018. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON UTILITY OPERATIONS EXPENSES REPORTED ON FORM 990, PART XI, LINE 9 148,025. 0 0 0 JAMES T PEEL FORMER EXECUTIVE VP & CEO 185248 16702 0 0 0 0 25215 0 16119 0 226582 16702 0 0 MARIE ASHWORTH CFO 142608 0 0 0 0 0 4222 0 16215 0 163045 0 0 0 KEITH VARNUM MANAGER - ENGINEERING 136142 0 0 0 0 0 3926 0 16119 0 156187 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS OF THE COOPERATIVE PROVIDE FOR NINE MEMBERS TO MAKE UP ITS BOARD OF TRUSTEES REPRESENTING A CROSS-SECTION OF ITS MEMBERSHIP. EACH OF THE NINE DISTRICTS ARE REPRESENTED BY A MEMBER-ELECTED TRUSTEE. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED FOR ACCURACY BY THE CHIEF EXECUTIVE OFFICER, THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL BEFORE BEING EXECUTED AND FILED EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS ARE REQUIRED TO CERTIFY THEY DO NO HAVE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY IS SET BY THE BOARD OF TRUSTEES BASED ON COMPENSATION SURVEYS FOR ELECTRIC CO-OPS OF SIMILAR SIZE. CEO SETS SALARY FOR KEY EMPLOYEES BASED ON COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE AT THE ANNUAL MEMBERSHIP MEETING FORM 990, PART XI, LINE 9: NON UTILITY OPERATIONS EXPENSES -148,025. OTHER INCREASES 55,354.