2023-11-15T16:17:13-06:00 2022-12-31 BDO USA 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2022-01-01 541978503 TOUCHSTONE ENERGY COOPERATIVE INC % DIGNA LOUIS C/O NRECA TOUC 7039076354 4301 WILSON BOULEVARD ARLINGTON VA 222031860 DIGNA LOUIS ASST SECR./TREASURER 7039075960 2023-11-15 true DIGNA LOUIS 999009999 Marc Berger P01871563 7038930600 3 2022 2023-04-26 12:10:37Z JANA ADAMS 4301 WILSON BOULEVARD ARLINGTON VA 222031860 10233553 false X https://touchstoneenergy.com X 2000 VA SEE SCHEDULE O 13 13 0 70 16570 0 9361202 9467737 351177 616895 54198 -46226 32009 50114 9798586 10088520 0 0 0 0 0 0 0 0 0 9473583 10176132 9473583 10176132 325003 -87612 11702200 13508349 3596536 5444071 8105664 8064278 TOUCHSTONE ENERGY IS A NATIONAL NETWORK OF ELECTRIC COOPERATIVES THAT PROVIDES PROGRAMS AND RESOURCES THAT HELP ITS MEMBERS STRENGTHEN RELATIONSHIPS WITH THEIR MEMBER/OWNERS. false false CONDUCTED RESEARCH AND DELIVERED EDUCATION PROGRAMS FOR MEMBERSHIP - IN 2022 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. PROVIDED VALUABLE MEMBERS BENEFITS - IN 2022, 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. STRENGTHENED BRAND AWARENESS AMONG CONSUMERS - IN 2022, 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. false false false true false false false false false true false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 0 true true false false false false false false false X 13 13 false true false false true true true true true false false true true true true true true false false false X DIGNA LOUIS CO NRECA 7039076554 4301 WILSON BLVD ARLINGTON VA 22203 X X DEBORAH MIRASOLA BOARD PRESIDENT 2.0 0.0 X X 0 0 0 TIM MCCARTHY BOARD VICE PRESIDENT 1.0 0.0 X X 0 0 0 KEVIN BERNSON BOARD SECRETARY/TREASURER 1.0 0.0 X X 0 0 0 JACK BRAGG DIRECTOR 1.0 0.0 X 0 0 0 BILL CONLEY DIRECTOR 1.0 0.0 X 0 0 0 JIM GOSSETT DIRECTOR 1.0 0.0 X 0 0 0 LOU GREEN DIRECTOR 1.0 0.0 X 0 0 0 MARTIN HAUGHT DIRECTOR 1.0 0.0 X 0 0 0 RICHARD JOHNSON DIRECTOR 1.0 0.0 X 0 0 0 MARTY LASURE DIRECTOR 1.0 0.0 X 0 0 0 JEREMY RICHERT DIRECTOR 1.0 0.0 X 0 0 0 AMY ROSIER DIRECTOR 1.0 0.0 X 0 0 0 DOUGLAS TRACY DIRECTOR 1.0 0.0 X 0 0 0 JANA ADAMS EXECUTIVE DIRECTOR 40.0 0.0 X 0 0 0 JEFFREY CONNOR SECOND VICE PRESIDENT 0.5 0.0 X 0 0 0 NICK PASCALETHRU 1122 ASSISTANT SECRETARY 1.0 0.0 X 0 0 0 JESSICA HEALYAS OF 1122 ASSISTANT SECRETARY 1.0 0.0 X 0 0 0 VENEICIA LOCKHARTTHRU 0422 ASSISTANT TREASURER 1.0 0.0 X 0 0 0 DIGNA LOUISAS OF 0622 ASSISTANT TREASURER 1.0 0.0 X 0 0 0 0 0 0 0 false false false NRECA 4301 WILSON BLVD ARLINGTIN VA 22203 MANAGEMENT SVCS 4259629 ASSEMBLY ONE WORLD TRADE CENTER FLOOR 67 NEW YORK NY 10007 ADVERTISING AGENCY 818145 TARGETCAST LLC PO BOX 435150 CHICAGO IL 60673 ADVERTISING AGENCY 728190 HARVEST CREATIVE SERVICES 1011 N WASHINGTON AVENUE LANSING MI 48906 ADVERTISEMENT PROD. 439679 LINKEDIN CORPORATION 62228 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 PROF. DEVELOPMENT 374500 12 9467737 9467737 PROFESSIONAL DEVELOPMENT 611430 435121 435121 WEBSITE DESIGN 541511 158475 158475 CO-OP CONNECTIONS PROGRAM 541990 16570 16570 OTHER PROFESSIONAL SERVICES 541990 6729 6729 616895 98807 98807 0 50114 50114 0 0 0 145033 -145033 -145033 -145033 0 0 0 0 0 0 0 0 0 0 10088520 600325 16570 3888 0 0 0 0 0 0 0 0 0 0 4259629 13947 6031 0 0 0 318641 2648224 948396 545918 0 205615 194709 0 428323 0 0 107664 32774 RESEARCH 314724 CONTRACTED PERSONNEL 121087 CONSULTING FEE 11000 ALL OTHER EXPENSES 19450 10176132 0 0 0 0 0 0 11039392 12668066 0 0 0 0 0 0 0 0 387023 497226 1278141 935084 275785 343057 0 0 0 0 0 0 0 0 0 0 11702200 13508349 120611 606118 0 0 3475925 4837953 0 0 0 0 0 0 0 0 0 0 0 0 3596536 5444071 X 0 0 0 0 8105664 8064278 8105664 8064278 11702200 13508349 X -87612 -175850 222076 X false true X true false false true false 260390 208855 51535 858851 726229 132622 158900 158900 343057 0 0 X 9912670 -175850 -175850 10088520 10088520 10176132 10176132 10176132 SCHEDULE D, PART X, LINE 2: 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. 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.