FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO (EIN 85-0036237)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-08-31
- IRS object ID
- 202202439349300955
- Schema version
- 2021v4.2
- 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 | 2022-08-31T08:34:48-05:00 | ReturnTs |
| Tax Period End | 2021-12-31 | 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 | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850036237 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARMERS ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Business Name Line2 | OF NEW MEXICO | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FARM | BusinessNameControlTxt |
| Phone | 5757624466 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 550 | AddressLine1Txt |
| City | CLOVIS | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 881020550 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANTONIO SANCHEZ JR | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 5757624466 | PhoneNum |
| Signature | 2022-08-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ANTONIO | PersonFirstNm |
| Person Last | SANCHEZ JR | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2022-08-30 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ANTONIO SANCHEZ JR | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 550 | AddressLine1Txt |
| City | CLOVIS | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 881020550 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $42,708,107 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FECNM.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1937 | FormationYr |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 55 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $39,814,487 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $42,307,699 | CYProgramServiceRevenueAmt |
| PY Investment Income | $454,404 | PYInvestmentIncomeAmt |
| CY Investment Income | $394,606 | CYInvestmentIncomeAmt |
| PY Other Revenue | $929 | PYOtherRevenueAmt |
| CY Other Revenue | $5,802 | CYOtherRevenueAmt |
| PY Total Revenue | $40,269,820 | PYTotalRevenueAmt |
| CY Total Revenue | $42,708,107 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $5,681 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $11,156 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $4,501,392 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $2,631,099 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,891,693 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $4,966,699 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $30,822,417 | PYOtherExpensesAmt |
| CY Other Expenses | $34,444,067 | CYOtherExpensesAmt |
| PY Total Expenses | $40,221,183 | PYTotalExpensesAmt |
| CY Total Expenses | $42,053,021 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $48,637 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $655,086 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $135,828,689 | TotalAssetsBOYAmt |
| Total Assets EOY | $139,799,971 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $80,725,584 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $82,949,446 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $55,103,105 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $56,850,525 | NetAssetsOrFundBalancesEOYAmt |
| Mission | NONE | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 15,957 ACTIVE SERVICES AT YEAR END. | Desc |
| 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 53 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 55 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 | $42,187,673 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $520,027 | 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 | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | 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 |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUZETTE HOWARD ACCOUNTING MANAGER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5757624466 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3701 NORTH THORNTON ST | AddressLine1Txt |
| City | CLOVIS | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 881020550 | 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 | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GEORGE DODGE JR | ||||||||
| VICE PRESIDENT | 2.20 | 0.30 | Yes (X) | Yes (X) | $3,712 | $0 | $0 | |
| DONNIE BIDEGAIN | ||||||||
| SECRETARY/TREASURER | 4.00 | 0.30 | Yes (X) | Yes (X) | $3,112 | $0 | $0 | |
| MICHAEL B WEST | ||||||||
| PRESIDENT | 4.40 | 0.30 | Yes (X) | Yes (X) | $3,088 | $0 | $0 | |
| JUDY SMITH | ||||||||
| DIRECTOR | 3.30 | 0.30 | Yes (X) | $3,086 | $0 | $0 | ||
| JUSTIN BARNES | ||||||||
| DIRECTOR | 2.30 | 0.30 | Yes (X) | $2,912 | $0 | $0 | ||
| ERNEST RILEY | ||||||||
| DIRECTOR | 4.20 | 0.30 | Yes (X) | $2,808 | $0 | $0 | ||
| JOHN PAT WOODS | ||||||||
| DIRECTOR | 2.20 | 0.30 | Yes (X) | $2,667 | $0 | $0 | ||
| LANCE R ADKINS | ||||||||
| GENERAL MANAGER | 50.00 | Yes (X) | $172,260 | $0 | $21,374 | |||
| THOMAS J MOORE | ||||||||
| DIRECTOR OF MEMBER SERVICES | 45.00 | Yes (X) | $111,168 | $0 | $59,613 | |||
| SUZETTE HOWARD | ||||||||
| ACCOUNTING MANAGER | 45.00 | Yes (X) | $104,654 | $0 | $64,278 | |||
| DARREL B GOMEZ | ||||||||
| LINE SUPERINTENDENT | 50.00 | $114,510 | $0 | $148,761 | Yes (X) | |||
| BARRY T BASS | ||||||||
| LINE SUPERINTENDENT | 50.00 | $107,272 | $0 | $116,027 | Yes (X) | |||
| HELEN JO WALLIN | ||||||||
| CUSTOMER SERVICE/HR MANAGER | 45.00 | $104,967 | $0 | $79,434 | Yes (X) | |||
| MICHAEL L MCCORD | ||||||||
| ENGINEERING MANAGER | 50.00 | $108,177 | $0 | $53,016 | Yes (X) | |||
| RODRICK W RAGLAND | ||||||||
| LINE FOREMAN | 47.00 | $112,894 | $0 | $40,255 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $957,287 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $582,758 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 10 | 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 |
|---|---|---|---|---|---|
| R & R LINE SERVICES | |||||
| 6022 QUAY ROAD | SAN JON | NM | 88434 | LINE CONSTRUCTION | $1,194,339 |
| SGS ENGINEERING LLC | |||||
| 401 50TH STREET | LUBBOCK | TX | 79404 | ENGINEERING SERVICES | $580,849 |
| DD GRID LLC | |||||
| PO BOX 1613 | CANYON | TX | 79015 | SUBSTATION CONTRACTOR | $502,778 |
| SOUTHWEST POWER SOLUTIONS | |||||
| 1912 S 6TH ST | TUCUMCARI | NM | 88401 | LINE CONSTRUCTION | $474,089 |
| LECTRA TECH | |||||
| 5820 MABRY DR | CLOVIS | NM | 88101 | INDUSTRIAL ELECTRIC SERVICES | $190,414 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $41,604,697 | $41,604,697 |
| PATRONAGE DIVIDENDS | 221000 | $688,535 | $688,535 |
| SERVICE FEES | 221000 | $14,467 | $14,467 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $42,307,699 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $394,606 | TotalRevenueColumnAmt |
| Exclusion | $394,606 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| POLE ATTACHMENT INCOME | 221000 | $4,302 | $4,302 | |
| MISCELLANEOUS REVENUES - HOLE DIG | 221000 | $1,500 | $1,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $5,802 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,708,107 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $42,309,199 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $398,908 | 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 | $11,156 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,631,099 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $554,732 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,670,495 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $777,850 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $735,992 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $227,630 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,120,699 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,708,624 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $25,126,383 |
| DISTRIBUTION EXPENSE | $2,303,516 |
| CONSUMER EXPENSE | $495,839 |
| ADMIN & GENERAL EXPENSE | $425,330 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $263,676 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,053,021 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,124,163 | BOYAmt |
| EOY | $1,240,378 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,250,098 | BOYAmt |
| EOY | $3,589,024 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,204,245 | BOYAmt |
| EOY | $3,463,117 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,373,140 | BOYAmt |
| EOY | $2,643,977 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,107,544 | BOYAmt |
| EOY | $909,907 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $145,861,052 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $43,711,018 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $96,329,572 | BOYAmt |
| EOY | $102,150,034 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,542,731 | BOYAmt |
| EOY | $1,845,630 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,808,187 | BOYAmt |
| EOY | $22,132,052 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,089,009 | BOYAmt |
| EOY | $1,825,852 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $135,828,689 | BOYAmt |
| EOY | $139,799,971 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,448,412 | BOYAmt |
| EOY | $4,198,676 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,970,363 | BOYAmt |
| EOY | $76,663,257 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,306,809 | BOYAmt |
| EOY | $2,087,513 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $80,725,584 | BOYAmt |
| EOY | $82,949,446 | 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 | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,103,105 | BOYAmt |
| EOY | $56,850,525 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,103,105 | BOYAmt |
| EOY | $56,850,525 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $135,828,689 | BOYAmt |
| EOY | $139,799,971 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $655,086 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,092,334 | 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 | $752,877 | OtherCostOrOtherBasisAmt |
| Book Value | $752,877 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,412,811 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,140,221 | DepreciationAmt |
| Book Value | $2,272,590 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $134,741,206 | OtherCostOrOtherBasisAmt |
| Depreciation | $42,570,797 | DepreciationAmt |
| Book Value | $92,170,409 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,954,158 | OtherCostOrOtherBasisAmt |
| Book Value | $6,954,158 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $102,150,034 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (10 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| CFC - MEDIUM TERM NOTES | $9,300,000 | C |
| PATRONAGE CAPITAL - OTHERS | $250,715 | C |
| PATRONAGE CAPITAL - CFC | $298,601 | C |
| PATRONAGE CAPITAL - FEDERATED | $358,387 | C |
| PATRONAGE CAPITAL - WFEC | $1,803,903 | C |
| PATRONAGE CAPITAL - COBANK | $29,596 | C |
| CFC - CAPITAL TERM CERTIFICATES | $733,108 | C |
| INVESTMENTS IN OTHER ASSOCIATED ORGANIZATIONS | $5,386 | C |
| MEMBERSHIPS - OTHER | $3,710 | C |
| MEMBERSHIPS - WFEC | $9,348,646 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $22,132,052 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| CONSUMER DEPOSITS | $285,264 |
| DEFERRED CREDITS - ADVANCES FOR CONSTRUCTION | $885,479 |
| ACCRUED OPERATING TAXES | $916,770 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,087,513 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $42,706,817 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $42,706,817 | RevenueSubtotalAmt |
| Other Revenues Not Included | $1,290 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,290 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $42,708,107 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $39,420,632 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $39,420,632 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,632,389 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,632,389 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $42,053,021 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 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 ITS TAX POSITION 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 4B - OTHER ADJUSTMENTS: | EXPENSES RECORDED IN NON-OPERATING MARGINS RECLASSED TO EXPENSE ON FORM 990 1,290. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | EXPENSES RECORDED IN NON-OPERATING MARGINS RECLASSED TO EXPENSE ON FORM 990 1,290. PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 2,631,099. |
| 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. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DARREL B GOMEZ | ||||||||||||||
| LINE SUPERINTENDENT | $109,035 | $0 | $541 | $0 | $4,934 | $0 | $145,598 | $0 | $3,163 | $0 | $263,271 | $0 | $0 | $0 |
| BARRY T BASS | ||||||||||||||
| LINE SUPERINTENDENT | $104,201 | $0 | $541 | $0 | $2,530 | $0 | $113,648 | $0 | $2,379 | $0 | $223,299 | $0 | $0 | $0 |
| LANCE R ADKINS | ||||||||||||||
| GENERAL MANAGER | $162,394 | $0 | $1,522 | $0 | $8,344 | $0 | $17,585 | $0 | $3,789 | $0 | $193,634 | $0 | $0 | $0 |
| HELEN JO WALLIN | ||||||||||||||
| CUSTOMER SERVICE/HR MANAGER | $99,582 | $0 | $541 | $0 | $4,844 | $0 | $74,326 | $0 | $5,108 | $0 | $184,401 | $0 | $0 | $0 |
| THOMAS J MOORE | ||||||||||||||
| DIRECTOR OF MEMBER SERVICES | $105,157 | $0 | $541 | $0 | $5,470 | $0 | $56,090 | $0 | $3,523 | $0 | $170,781 | $0 | $0 | $0 |
| SUZETTE HOWARD | ||||||||||||||
| ACCOUNTING MANAGER | $97,844 | $0 | $541 | $0 | $6,269 | $0 | $57,585 | $0 | $6,693 | $0 | $168,932 | $0 | $0 | $0 |
| MICHAEL L MCCORD | ||||||||||||||
| ENGINEERING MANAGER | $102,303 | $0 | $541 | $0 | $5,333 | $0 | $46,275 | $0 | $6,741 | $0 | $161,193 | $0 | $0 | $0 |
| RODRICK W RAGLAND | ||||||||||||||
| LINE FOREMAN | $107,184 | $0 | $433 | $0 | $5,277 | $0 | $38,171 | $0 | $2,084 | $0 | $153,149 | $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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. DARREL B. GOMEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 144,544 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,054 TOTAL REPORTED IN COLUMN C $ 145,598 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (144,544) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,505 EXPENSE TO THE COOPERATIVE $ 37,559 BARRY BASS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 112,500 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,148 TOTAL REPORTED IN COLUMN C $ 113,648 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (112,500) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,349 EXPENSE TO THE COOPERATIVE $ 40,497 LANCE R. ADKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,921 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,664 TOTAL REPORTED IN COLUMN C $ 17,585 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,921) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,421 EXPENSE TO THE COOPERATIVE $ 60,085 HELEN JO WALLIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,700 EMPLOYER CONTRIBUTION TO 401(K) PLAN 30,626 TOTAL REPORTED IN COLUMN C $ 74,326 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,700) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,219 EXPENSE TO THE COOPERATIVE $ 66,845 THOMAS J. MOORE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,994 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,096 TOTAL REPORTED IN COLUMN C $ 56,090 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,994) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,515 EXPENSE TO THE COOPERATIVE $ 38,611 SUZETTE HOWARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,497 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,088 TOTAL REPORTED IN COLUMN C $ 57,585 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,497) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,244 EXPENSE TO THE COOPERATIVE $ 39,332 MICHAEL MCCORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,142 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,133 TOTAL REPORTED IN COLUMN C $ 46,275 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (45,142) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,032 EXPENSE TO THE COOPERATIVE $ 40,165 RODRICK RAGLAND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,251 EMPLOYER CONTRIBUTION TO 401(K) PLAN 920 TOTAL REPORTED IN COLUMN C $ 38,171 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,251) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,021 EXPENSE TO THE COOPERATIVE $ 32,941 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (20 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I: | 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 A NET INCOME OF $655,086, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE. NET INCOME REPORTED ON LINE 19 IS ALSO THE RESULT OF THE TRANSFER OF NON-OPERATING MARGINS TO OTHER EQUITIES. THE GAAP BASIS FINANCIAL STATEMENTS INCLUDE AN ACCRUAL FOR UNBILLED REVENUE BECAUSE THE COOPERATIVE'S BILLING CYCLE DOES NOT END ON THE LAST DAY OF THE MONTH. THEREFORE, IT HAS REVENUE IN DECEMBER OF EACH YEAR THAT IT HAS EARNED BUT WILL NOT BILL UNTIL THE FIRST BILLING CYCLE OF THE FOLLOWING YEAR. THE COOPERATIVE ESTIMATES THIS REVENUE AND RECORDS IT AS ACCRUED UNBILLED REVENUE IN ORDER TO MATCH THE REVENUE WITH THE YEAR EARNED. HOWEVER, THE COOPERATIVE ALLOCATES THE REVENUE TO MEMBERS IN THE YEAR IT IS BILLED RATHER THAN WHEN ACCRUED. THIS TIMING DIFFERENCE IS FAIR AND EQUITABLE BECAUSE IT MATCHES THE PATRONAGE DIVIDEND ALLOCATED WITH THE BILLING RECORDS USED TO ALLOCATE THE MARGINS. DUE TO THE TIMING OF WHEN THE COOPERATIVE ALLOCATES ACCRUED UNBILLED REVENUE, PAGE 1, PART I, LINE 19 ANNUALLY REPORTS NET INCOME EQUAL TO THE NET INCREASE IN ACCRUED UNBILLED REVENUE OR A NET LOSS EQUAL TO THE NET DECREASE IN UNBILLED REVENUE. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: ADD: UNBILLED REVENUE 12/31/21 $ 944,119 LESS: UNBILLED REVENUE 12/31/20 (689,299) ADD: TRANSFER MARGINS TO OTHER EQUITIES 400,266 (A) - INCREASE EQUALS NET INCOME ON PAGE 1, LINE 19 $ 655,086 (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $ 2,631,099 TOTAL 2021 NET MARGIN PER FINANCIAL STATEMENTS (A + B) $ 3,286,185 |
| 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 TRUSTEES. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS BY DISTRICT. |
| 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 5. AMENDMENT TO THE BYLAWS |
| 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 PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE THE FILING OF THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH TRUSTEE SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A.) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY B.) HAS READ AND UNDERSTANDS THE POLICY C.) HAS AGREED TO COMPLY WITH THE POLICY |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF TRUSTEES USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM COOPERATIVES LOCATED IN NEW MEXICO AND THE NATION. THE GENERAL MANAGER USES A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICERS AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT NEW MEXICO AND THE NATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE MAILS AN ANNUAL REPORT TO ALL MEMBERS. INCLUDED IN THE REPORT IS A COPY OF THE THE AUDITED BALANCE SHEET AND INCOME STATEMENT. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS TO ANY MEMBER WHO MAKES A WRITTEN REQUEST FOR A COPY OF ANY SUCH DOCUMENT. THE MEMBER SHALL MAKE A REQUEST FOR INFORMATION AND/OR DOCUMENTS BY SUBMITTING A "MEMBER INFORMATION REQUEST" FORM. THIS PROCEDURE IS CONSISTENT WITH COOPERATIVE POLICY VII-1. THE BYLAWS, FINANCIAL INFORMATION AND A COPY OF THE FORM 990 CAN BE FOUND ON THE COOPERATIVE'S WEBSITE WWW.FECNM.ORG. |
| 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 PALN 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, 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 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 2C: | PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. 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 VIII, LINE 2B: | THE COOPERATIVE AND WESTERN FARMERS ELECTRIC COOPERATIVE (WFEC), A RURAL ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE, HAVE ENTERED INTO A WHOLESALE POWER CONTRACT WHERE WFEC WILL PROVIDE THE COOPERATIVE WITH ELECTRIC POWER. AS PART OF THE AGREEMENT THE COOPERATIVE MUST CONTRIBUTE EQUITY TO WFEC IN A MANNER AND AMOUNT SUCH THAT, AS OF JUNE 1, 2026, THE COOPERATIVE HAS CONTRIBUTED EQUITY TO WFEC COMPARABLE TO THE AMOUNT OF EQUITY CONTRIBUTED TO WFEC BY PRIOR EXISTING MEMBERS. THE PURPOSE OF THE CONTRIBUTION IS TO OBTAIN A POWER SUPPLY IN ORDER TO MEET THE TERMS OF THE WHOLESALE PURCHASE CONTRACT. PURUSANT TO APPROVAL BY THE NEW MEXICO PUBLIC REGULATION COMMISSION, THE EQUITY CONTRIBUTION IS RECOVERED MONTHLY FROM THE MEMBERS THROUGH THE SALE OF ELECTRICITY. |
| FORM 990, PART IX: | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RURAL UTILITIES SERVICE (RUS) ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARETLY 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 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 $ 3,225,227 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (21,385) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (145,265) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING 1,340 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 732,861 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSES INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 220,361 TOTAL WAGES ACCRUED AND OR PAID $ 4,013,139 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 745,931 OFFICE SUPPLIES 111,328 OUTSIDE SERVICES EMPLOYED 25,950 REGULATORY COMMISSION 208,002 MISCELLANEOUS GENERAL 124,375 ASSOCIATION DUES 112,875 CAPITAL CREDIT 27,376 TRUSTEES 46,355 ADVERTISING 38,998 RENTS 800 MAINTENANCE OF GENERAL PLANT 61,991 DUPLICATE CHARGES (CREDIT) (40,660) TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 1,463,321 LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (21,385) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (628,752) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (387,854) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 425,330 |
| 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 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 FROM THE COOPERATIVE FOR THE 2021 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 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: SALES $ 41,903 TRANSMISSION 218,839 MISCELLANEOUS AND OTHER DEDUCTIONS 2,934 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 263,676 |
| 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 XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 2,631,099. PATRONAGE CAPITAL RETIRED - TOTAL -1,574,495. PATRONAGE CAPITAL RETIRED - DISCOUNT 35,981. TRANFERRED EQUITIES -251. |
| FORM 990, PART XII, LINE 2C: | FARMERS ELECTRIC COOPERATIVE HAS A SEPARATE AUDIT COMMITTEE RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARMERS ELECTRIC EDUCATION FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 550 | AddressLine1Txt |
| City | CLOVIS | CityNm |
| State Abbreviation | NM | StateAbbreviationCd |
| ZIP | 881020550 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 850348498 | EIN |
| Primary Activities | TO PROVIDE COLLEGE SCHOLARSHIPS TO ACTIVE MEMBERS AND THEIR FAMILY. | PrimaryActivitiesTxt |
| Legal Domicile State | NM | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FARMERS ELECTRIC COOPERATVIE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|
| FARMERS ELECTIC EDUCATION FOUNDATION | |
| N | N/A - LESS THAN $50,000 |
| FARMERS ELECTIC EDUCATION FOUNDATION | |
| O | N/A - LESS THAN $50,000 |