VICTORIA ELECTRIC COOPERATIVE INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- VICTORIA ELECTRIC COOPERATIVE INC (EIN 74-0964933)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-10-12
- IRS object ID
- 202332859349301133
- Schema version
- 2022v5.0
- 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 | 2023-10-12T12:43:22-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | 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 | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 740964933 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VICTORIA ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VICT | BusinessNameControlTxt |
| Phone | 3615732428 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2178 | AddressLine1Txt |
| City | VICTORIA | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77902 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BLAINE WARZECHA | PersonNm |
| Person Title | GENERAL MANAGER | PersonTitleTxt |
| Phone | 3615732428 | PhoneNum |
| Signature | 2023-10-03 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | BLAINE | PersonFirstNm |
| Person Last | WARZECHA | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| 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 | 2023-10-03 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | BLAINE WARZECHA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 2178 | AddressLine1Txt |
| City | VICTORIA | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77902 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $73,692,757 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.VICTORIAELECTRIC.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE ELECTRIC & BROADBAND INTERNET GOODS & SERVICES TO MEMBERS ON A COOPERATIVE BASIS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 102 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $447,085 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $62,215,808 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $73,265,767 | CYProgramServiceRevenueAmt |
| PY Investment Income | $119,811 | PYInvestmentIncomeAmt |
| CY Investment Income | $88,147 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,729,327 | PYOtherRevenueAmt |
| CY Other Revenue | $338,843 | CYOtherRevenueAmt |
| PY Total Revenue | $64,064,946 | PYTotalRevenueAmt |
| CY Total Revenue | $73,692,757 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,404 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,800 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,965,798 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,230,843 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,109,985 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,156,846 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $54,062,736 | PYOtherExpensesAmt |
| CY Other Expenses | $63,729,359 | CYOtherExpensesAmt |
| PY Total Expenses | $63,140,923 | PYTotalExpensesAmt |
| CY Total Expenses | $74,118,848 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $924,023 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$426,091 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $152,267,427 | TotalAssetsBOYAmt |
| Total Assets EOY | $159,062,957 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $67,580,076 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $71,171,382 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $84,687,351 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $87,891,575 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO EXCEED OUR MEMBER'S EXPECTATIONS OF PROVIDING SAFE, RELIABLE, AFFORDABLE ELECTRICITY, AND CONTINUE TO IMPROVE THE QUALITY OF LIFE OF EACH MEMBER THROUGH LOYAL EMPLOYEES, WITH A FOCUS ON SERVICE AND COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,537 ACTIVE SERVICES AT YEAR END. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INFINIUM DIVISION:PROVIDING BROADBAND INTERNET SERVICES THROUGH THE CONSTRUCTION OF A FIBER OPTIC NETWORK. 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 MEMBERS. THERE WERE 2,102 SUBSCRIBERS OF THE INFINIUM DIVISION 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 | 0 | 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 | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | 0 | 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 | 11 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 102 | 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 | $72,334,568 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $927,852 | 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 | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | 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 | Yes (1) | 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 | JESSICA GRAY CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3615732428 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5502 US HWY 59 NORTH | AddressLine1Txt |
| City | VICTORIA | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 77905 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| SAMUEL F RUSCHHAUPT III | |||||||
| PRESIDENT | 2.40 | Yes (X) | Yes (X) | $23,688 | $0 | $0 | |
| BYRON HAUSMANN | |||||||
| VICE PRESIDENT | 5.30 | Yes (X) | Yes (X) | $25,698 | $0 | $0 | |
| TAMMIE BOYD | |||||||
| SECRETARY/TREASURER | 7.80 | Yes (X) | Yes (X) | $22,398 | $0 | $0 | |
| RAYMOND BRANDL JR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $23,478 | $0 | $0 | ||
| MICHAEL MARAGGIA | |||||||
| DIRECTOR | 2.80 | Yes (X) | $17,566 | $0 | $0 | ||
| TODD ADAMS | |||||||
| DIRECTOR | 3.60 | Yes (X) | $16,848 | $0 | $0 | ||
| JOHN BECK | |||||||
| ASSISTANT SECRETARY | 3.90 | Yes (X) | Yes (X) | $16,652 | $0 | $0 | |
| JAMES HAYES | |||||||
| DIRECTOR (APR-DEC) | 2.50 | Yes (X) | $14,462 | $0 | $0 | ||
| BLAINE WARZECHA | |||||||
| GENERAL MANAGER | 55.00 | Yes (X) | $228,505 | $0 | $102,320 | ||
| JESSICA GRAY | |||||||
| CHIEF FINANCIAL OFFICER | 52.00 | Yes (X) | $132,681 | $0 | $39,682 | ||
| DAVID NERADA | |||||||
| SERVICE LINE SUPERVISOR | 48.00 | $136,548 | $0 | $57,746 | Yes (X) | ||
| ROBERT FRANCIS | |||||||
| ENGINEERING MANAGER | 48.00 | $136,699 | $0 | $58,764 | Yes (X) | ||
| NINA CAMPOS | |||||||
| BROADBAND INTERNET MANAGER | 48.00 | $126,066 | $0 | $35,801 | Yes (X) | ||
| LADDY BROWN | |||||||
| OPERATIONS MANAGER | 48.00 | $114,155 | $0 | $80,468 | Yes (X) | ||
| ADAM ESTRADA | |||||||
| INFORMATION TECH MANAGER | 48.00 | $111,512 | $0 | $28,299 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,146,956 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $403,080 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 15 | 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 |
|---|---|---|---|---|---|
| JC COMMUNICATIONS | |||||
| 16504-1 RED WAGON LANE | LEANDER | TX | 78641 | FIBER CONTRACTOR | $1,758,872 |
| ABC PROFESSIONAL TREE SERVICE | |||||
| 201 FLINT RIDGE RD STE 201 | WEBSTER | TX | 77598 | TREE TRIMMING CONTRACTOR | $870,875 |
| JAMES POWER LINE CONSTRUCTION | |||||
| 43 SHOOTING CLUB ROAD | BOERNE | TX | 78006 | CONSTRUCTON CONTRACTOR | $682,573 |
| URBAN ELECTRICAL SERVICES | |||||
| PO BOX 219 | CARRIZO SPRINGS | TX | 78834 | CONSTRUCTON CONTRACTOR | $494,537 |
| CARTER DOZER SERVICE | |||||
| 894 FM 237 | VICTORIA | TX | 77905 | ROW CONTRACTOR | $257,675 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 7 | 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 | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $67,707,373 | $67,707,373 | |
| PATRONAGE DIVIDENDS | 221000 | $2,900,928 | $2,900,928 | |
| BROADBAND ACCESS | 517000 | $2,149,595 | $1,702,510 | $447,085 |
| SERVICE FEES | 221000 | $507,871 | $507,871 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $73,265,767 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $86,002 | TotalRevenueColumnAmt |
| Exclusion | $86,002 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $28,600 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $28,600 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $28,600 | TotalRevenueColumnAmt |
| Exclusion | $28,600 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,145 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $2,145 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,145 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,145 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $6,501 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,501 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $6,501 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| POLE ATTACHMENT INCOME | 221000 | $278,068 | $278,068 | |
| MISC. NON OPERATING INCOME | 221000 | $25,674 | $25,674 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $303,742 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $73,692,757 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $72,853,002 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $447,085 | UnrelatedBusinessRevenueAmt |
| Exclusion | $392,670 | 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 | $1,800 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,230,843 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $663,978 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,875,110 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $448,868 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $866,435 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $302,455 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,989,285 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,081,177 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $51,597,859 |
| DISTRIBUTION EXPENSE | $2,231,202 |
| ADMINISTRATIVE AND GENE | $1,047,795 |
| BROADBAND EXPENSES | $916,478 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $865,563 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74,118,848 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,791,533 | BOYAmt |
| EOY | $2,336,665 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,802 | BOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,115,468 | BOYAmt |
| EOY | $4,071,751 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,909,529 | BOYAmt |
| EOY | $3,039,767 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $629,777 | BOYAmt |
| EOY | $529,275 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $146,431,412 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $48,617,835 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,377,981 | BOYAmt |
| EOY | $97,813,577 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,574,045 | BOYAmt |
| EOY | $49,348,770 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,863,292 | BOYAmt |
| EOY | $1,923,152 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,267,427 | BOYAmt |
| EOY | $159,062,957 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,441,664 | BOYAmt |
| EOY | $6,474,018 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,296,081 | BOYAmt |
| EOY | $61,505,948 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,842,331 | BOYAmt |
| EOY | $3,191,416 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,580,076 | BOYAmt |
| EOY | $71,171,382 | 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 | $85,895 | BOYAmt |
| EOY | $87,230 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,785,493 | BOYAmt |
| EOY | $86,926,173 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,815,963 | BOYAmt |
| EOY | $878,172 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,687,351 | BOYAmt |
| EOY | $87,891,575 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,267,427 | BOYAmt |
| EOY | $159,062,957 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$426,091 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $3,630,315 | 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 | Yes (1) | 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 (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $617,818 | OtherCostOrOtherBasisAmt |
| Book Value | $617,818 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,424,057 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,654,138 | DepreciationAmt |
| Book Value | $10,769,919 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $125,906,436 | OtherCostOrOtherBasisAmt |
| Depreciation | $45,963,697 | DepreciationAmt |
| Book Value | $79,942,739 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,483,101 | OtherCostOrOtherBasisAmt |
| Book Value | $6,483,101 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $97,813,577 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PATRONAGE CAPITAL - CFC CAPITAL TERM CERT | $572,479 | C |
| PATRONAGE CAPITAL - COBANK | $572,132 | C |
| PATRONAGE CAPITAL - NEC | $2,773 | C |
| PATRONAGE CAPITAL - NRTC | $20,317 | C |
| PATRONAGE CAPITAL - NRUCFC | $334,363 | C |
| PATRONAGE CAPITAL - SEDC | $97,718 | C |
| PATRONAGE CAPITAL - SOUTH TEXAS ELECTRIC COOP | $47,162,126 | C |
| PATRONAGE CAPITAL - TEXAS ELECTRIC COOPS | $586,862 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $49,348,770 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| DEFERRED CREDITS | $123,285 |
| ADVANCES FOR CONSTRUCTION | $1,049,730 |
| ACCRUED LIABILITIES | $1,307,766 |
| CONSUMER DEPOSITS | $710,635 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,191,416 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $74,571,261 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $932,724 | OtherRevenueAmt |
| Revenue Not Reported | $932,724 | RevenueNotReportedAmt |
| Revenue Subtotal | $73,638,537 | RevenueSubtotalAmt |
| Other Revenues Not Included | $54,220 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $54,220 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $73,692,757 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $70,820,729 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $932,724 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $932,724 | ExpensesNotReportedAmt |
| Expenses Subtotal | $69,888,005 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $4,230,843 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $4,230,843 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $74,118,848 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE HAS ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | ELIMINATION OF INTERDIVISIONAL MISC INCOME 932,724. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | NON-MEMBER INFINIUM CIAC 54,220. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | ELIMINATION OF INTERDIVISIONAL EXPENSE 932,724. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 4,230,843. |
| 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 J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| 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 (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BLAINE WARZECHA | ||||||||||||||
| GENERAL MANAGER | $221,670 | $0 | $6,835 | $0 | $0 | $0 | $73,239 | $0 | $29,081 | $0 | $330,825 | $0 | $0 | $0 |
| ROBERT FRANCIS | ||||||||||||||
| ENGINEERING MANAGER | $132,521 | $0 | $4,178 | $0 | $0 | $0 | $29,226 | $0 | $29,538 | $0 | $195,463 | $0 | $0 | $0 |
| LADDY BROWN | ||||||||||||||
| OPERATIONS MANAGER | $110,658 | $0 | $3,497 | $0 | $0 | $0 | $50,930 | $0 | $29,538 | $0 | $194,623 | $0 | $0 | $0 |
| DAVID NERADA | ||||||||||||||
| SERVICE LINE SUPERVISOR | $133,217 | $0 | $3,331 | $0 | $0 | $0 | $36,722 | $0 | $21,024 | $0 | $194,294 | $0 | $0 | $0 |
| JESSICA GRAY | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $128,607 | $0 | $4,074 | $0 | $0 | $0 | $27,360 | $0 | $12,322 | $0 | $172,363 | $0 | $0 | $0 |
| NINA CAMPOS | ||||||||||||||
| BROADBAND INTERNET MANAGER | $122,394 | $0 | $3,672 | $0 | $0 | $0 | $23,539 | $0 | $12,262 | $0 | $161,867 | $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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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. BLAINE WARZECHA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,145 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,094 TOTAL REPORTED IN COLUMN C $ 73,239 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,145) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,143 EXPENSE TO THE COOPERATIVE $ 46,237 ROBERT FRANCIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,673 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,553 TOTAL REPORTED IN COLUMN C $ 29,226 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,673) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,458 EXPENSE TO THE COOPERATIVE $ 28,011 LADDY BROWN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,670 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,260 TOTAL REPORTED IN COLUMN C $ 50,930 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,670) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,523 EXPENSE TO THE COOPERATIVE $ 23,783 DAVID NERADA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,325 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,397 TOTAL REPORTED IN COLUMN C $ 36,722 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,325) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,647 EXPENSE TO THE COOPERATIVE $ 22,044 JESSICA GRAY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,388 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,972 TOTAL REPORTED IN COLUMN C $ 27,360 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,388) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,411 EXPENSE TO THE COOPERATIVE $ 25,383 NINA CAMPOS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,435 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,104 TOTAL REPORTED IN COLUMN C $ 23,539 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,435) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,438 EXPENSE TO THE COOPERATIVE $ 20,542 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (19 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE O - PART I, LINE 19 | IN GENERAL, WHEN AN ELECTRIC COOPERATIVE BASES THE PATRONAGE DIVIDEND CALCULATION ON ITS NET BOOK INCOME/(LOSS), PAGE 1, PART I, LINE 19 - REVENUE LESS EXPENSES - WILL BE $0. FOR THE CURRENT YEAR, PAGE 1, PART I, LINE 19 REPORTS NET LOSS OF $426,091, WHICH CONSISTS OF THE FOLLOWING: BROADBAND DIVISION NET LOSS $ (629,233) NONOPERATING MARGINS 148,922 NON-MEMBER INFINIUM CIAC 54,220 NET LOSS ON PAGE 1, PART I, LINE 19 $ 426,091 PURSUANT TO THE BYLAWS, THE BROADBAND DIVISION LOSSES WILL BE ACCUMULATED UNTIL CUMULATIVE NET INCOME EXCEEDS CUMULATIVE LOSSES. AT THAT TIME, NET INCOME OF THE DIVISION WILL BE ALLOCATED TO THE MEMBERS. NONOPERATING MARGINS ARE RETAINED BY THE COOPERATIVE AS AN UNALLOCATED RESERVE. |
| 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. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT 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 PROVIDED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVIEW TOOK PLACE AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE RETURN. |
| FORM 990, PART VI, SECTION B, LINE 12C | ON AN ANNUAL BASIS, THE COOPERATIVE WILL REQUIRE THE BOARD OF DIRECTORS AND OFFICERS TO COMPLETE AND SIGN A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION COMMITTE OF THE BOARD OF DIRECTORS USES THE EXPERTISE OF A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN TEXAS AND THE NATION. INTERNAL AND/OR EXTERNAL RESOURCES ARE ALSO USED TO COMPARE ANNUAL COMPENSATION WITHIN THE INDUSTRY. THE ENTIRE BOARD OF DIRECTORS APPROVES THE GENERAL MANAGER'S COMPENSATION. THE BOARD AND THE GENERAL MANAGER USE THE EXPERTISE OF A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT TEXAS AND THE NATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | 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. ANNUALLY, THE COOPERATIVE PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE BYLAWS CAN ALSO BE FOUND UNDER MEMBER RESOURCES ON THE COOPERATIVE'S WEBSITE. |
| 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 AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS 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. |
| FORM 990, PART VIII, LINE 2B: | PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM GENERATION & TRANSMISSION COOPERATIVES. 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 $ 4,539,088 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (160,790) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (142,002) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,266,020 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 251,065 TOTAL WAGES ACCRUED AND/OR PAID $ 5,753,381 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,112,450 OFFICE SUPPLIES 355,919 OUTSIDE SERVICES 172,838 REGULATORY COMMISSION 115,834 DIRECTORS 177,961 MISCELLANEOUS GENERAL 371,969 MAINTENANCE OF GENERAL PLANT 684,528 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 2,991,500 LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (160,790) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,259,659) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (523,256) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,047,795 |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CUSTOMER ACCOUNTS $ 931,187 OTHER DEDUCTIONS 40,818 TAXES 455,463 TOTAL OTHER EXPENSES REPORTED ON FINANCIAL STATEMENTS $ 1,427,468 LESS: RECLASS OF LABOR AND OVERHEAD (561,905) TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 865,563 |
| 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 AND BROADBAND INTERNET RELATED GOODS AND SERVICES 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 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 AND BROADBAND INTERNET RELATED GOODS AND SERVICES FROM THE COOPERATIVE FOR THE 2022 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 1: | 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. EACH GRANT, SPONSORSHIP, AND/OR DONATION MADE DURING THE YEAR WAS BELOW THE REPORTING THRESHOLD OF SCHEDULE I, PART II. |
| FORM 990, PART IX: | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED BY RUS FOR ELECTRIC BORROWERS. 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 XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 4,230,843. PATRONAGE CAPITAL RETIRED -547,643. NET CHANGE IN MEMBERSHIPS 1,335. NON-MEMBER INFINIUM CIAC -54,220. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS HAS ASSIGNED MEMBERS OF THE BOARD TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. |