2022-08-09T09:23:19-05:00 2021-12-31 161117932 BUFFAMANTE WHIPPLE BUTTAFARO PC 201 WEST THIRD STREET SUITE 300 JAMESTOWN NY 14701 990 2021-01-01 160650108 STEUBEN RURAL ELECTRIC COOPERATIVE INC STEU 6077764161 9 WILSON AVENUE BATH NY 14810 BRYANT DILLON GENERAL MANAGER 6077764161 2022-08-09 1 BRYANT DILLON XXX-XX-XXXX JAMES C ALEXANDER CPA P01384001 7163721620 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z BRYANT DILLON 9 WILSON AVENUE BATH NY 14810 11402118 0 X WWW.STEUBENREC.COOP X 1941 NY THE MISSION OF STEUBEN RURAL ELECTRIC COOPERATIVE IS TO IMPROVE THE QUALITY OF RURAL LIFE BY PROVIDING OUR MEMBERS WITH LOW COST, RELIABLE ELECTRICITY AND RELATED SERVICES IN A SAFE MANNER. 8 8 33 0 0 0 0 0 10880290 11263700 76305 85024 39949 53394 10996544 11402118 0 0 519734 385138 178702 199115 0 0 0 9732738 10157077 10431174 10741330 565370 660788 37951862 38467203 20621218 20468971 17330644 17998232 THE MISSION OF STEUBEN RURAL ELECTRIC COOPERATIVE IS TO IMPROVE THE QUALITY OF RURAL LIFE BY PROVIDING OUR MEMBERS WITH LOW COST, RELIABLE ELECTRICITY AND RELATED SERVICES IN A SAFE MANNER. 0 0 10741330 11317094 PROVIDING RELIABLE ELECTRICITY AND RELATED SERVICES TO OUR MEMBERS IN A SAFE MANNER. STEUBEN RURAL ELECTRIC COOPERATIVE, INC. SERVES OVER 6,400 METERS THROUGHOUT FOUR COUNTIES. 10741330 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 33 1 0 0 0 0 0 0 0 10669242 133986 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X BRYANT DILLON 6077764161 9 WILSON AVE BATH NY 14810 JOSEPH HAURYSKI DIRECTOR (THROUGH APRIL 2021) 0.18 X 1200 0 0 GORDON FOSTER TREASURER 2.29 X X 7060 0 0 WILLIAM H MOSS III DIRECTOR 0.96 X 4140 0 0 RANDY STANKEY DIRECTOR 2.20 X 7800 0 0 GERALD CHASE DIRECTOR 1.94 X 6460 0 0 JANICE HOAD SECRETARY 1.65 X X 5460 0 0 GARY BROCKWAY TREASURER (THROUGH SEPT 2021) 1.03 X X 3400 0 0 JAMES R MCCORMICK PRESIDENT 3.13 X X 7840 0 0 ROBERT V NICHOLS VICE PRESIDENT 2.15 X X 7320 0 0 EDWARD BORKOWSKI DIRECTOR 0.19 X 1160 0 0 BRYANT DILLON GENERAL MANAGER 50.78 X 109319 0 37956 JOSHUA GAUSS OPERATIONS MANAGER 52.10 X 101311 0 35839 WADE NELSON FOREMAN 43.78 X 101012 0 19516 363482 0 93311 3 0 0 0 BNF POWERLINE CONSTRUCTION 361 BRUMBAUGH RD ROARING SPRING PA 16673 POWERLINE CONSTRUCTION 1027102 STRAUSS TREE SERVICE INC 10646 COUNTY ROUTE 119 ADDISON NY 14801 VEGETATION MANAGEMENT 518608 ASPLUNDH TREE EXPERT 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 VEGETATION MANAGEMENT 234562 3 ELECTRIC SERVICE REVENUE 221000 11263700 11263700 11263700 85024 85024 749 0 749 749 749 MISCELLANEOUS REVENUE 221000 52645 52645 52645 11402118 11317094 0 85024 385138 199115 642433 1315823 COST OF PURCHASED POWER 2717846 DISTRIBUTION EXP-MAINTE 2010014 DISTRIBUTION EXP-OPERAT 1698234 ADMINISTRATIVE AND GENE 1037768 734959 10741330 1099565 535569 2092668 2209418 568932 452198 358530 183704 52398832 19908237 31019101 32490595 1207722 1237030 1605344 1358689 37951862 38467203 696898 751361 19654249 19453679 270071 263931 20621218 20468971 X 0 0 0 0 17330644 17998232 17330644 17998232 37951862 38467203 X 660788 6800 X 0 1 X 1 0 41039 41039 4515501 1795099 2720402 47369821 18113138 29256683 472471 472471 32490595 OTHER POSTRETIREMENT BENEFITS 263931 263931 X 11402118 0 11402118 0 11402118 10356193 0 10356193 385137 385137 10741330 PART X, LINE 2: THE COOPERATIVE IS A NOT-FOR-PROFIT, MEMBERSHIP COOPERATIVE UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND THEREFORE, THE COOPERATIVE IS EXEMPT FROM FEDERAL INCOME TAXES. PURSUANT TO THE NEW YORK RURAL ELECTRIFICATION LAW, THE COOPERATIVE IS ALSO EXEMPT FROM STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR SUCH TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. CERTAIN INCOME EARNED FROM OTHER UNRELATED PRODUCTS AND SERVICES MAY REQUIRE THE COOPERATIVE TO PAY FEDERAL AND STATE INCOME TAXES. IF THIS SITUATION SHOULD ARISE, THE NECESSARY PROVISIONS FOR INCOME TAX LIABILITIES ARE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. NO SUCH TAX LIABILITIES EXISTED AT DECEMBER 31, 2021 AND 2020. THE COOPERATIVE IS REQUIRED TO FILE INFORMATIONAL RETURNS WITH THE INTERNAL REVENUE SERVICE. THE TAX YEARS FROM 2018 AND LATER REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. PART XII, LINE 4B - OTHER ADJUSTMENTS: CURRENT YEAR RETIREMENT OF CAPITAL CREDITS 508,040. LESS: DISCOUNT ON CAPITAL CREDITS -30,521. LESS: UNCLAIMED CAPITAL CREDITS -92,382. PART XII, LINE 4B THE COOPERATIVE HAD NET RETIREMENTS OF CAPITAL CREDITS OF $385,137 TO ITS MEMBERS IN 2021. THIS AMOUNT IS INCLUDED IN BENEFITS PAID TO OR FOR MEMBERS AS INDICATED ON SCHEDULE O. FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR BODY POLITIC OR SUBDIVISION THEREOF MAY BECOME A MEMBER IN STEUBEN RURAL ELECTRIC COOPERATIVE, INC BY A) FILING A WRITTEN APPLICATION FOR MEMBERSHIP THEREIN, B) AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE, C) AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS, AND D) PAYING THE MEMBERSHIP FEE. NO MEMBER MAY HOLD MORE THAN ONE MEMBERSHIP IN THE COOPERATIVE, AND NO MEMBERSHIP IN THE COOPERATIVE SHALL BE TRANSFERABLE. FORM 990, PART VI, SECTION A, LINE 7A THE COOPERATIVE'S BOARD OF DIRECTORS APPOINTS A NOMINATING COMMITTEE MADE UP OF CO-OP MEMBERS (NONE ARE ON THE BOARD). THE NOMINATING COMMITTEE MEETS AT LEAST ONCE PER YEAR. EACH NOMINATING COMMITTEE MEMBER IS RESPONSIBLE TO ATTEMPT TO PRESENT AT LEAST TWO CANDIDATES TO RUN FOR SEATS UP FOR ELECTION. PER THE BYLAWS, CANDIDATES MAY ALSO BE NOMINATED BY PETITION. ALL CANDIDATES ARE THEN VOTED ON BY THE MEMBERS IN ATTENDANCE AT THE ANNUAL MEETING AND BY ANY PROXIES RECEIVED PRIOR TO OR AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B BOARD DECISIONS ARE PASSED BY A MAJORITY VOTE OF BOARD MEMBERS. ANY PROPOSED BYLAW CHANGES ARE VOTED ON BY THE MEMBERS AT THE NEXT ANNUAL MEETING OF THE MEMBERS IN ACCORDANCE WITH THE COOPERATIVE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B ALL DIRECTORS RECEIVE A DRAFT COPY OF THE COMPLETED FORM 990 AND ARE ASKED TO PROVIDE CHANGES/CORRECTIONS WHICH ARE DOCUMENTED IN BOARD MEETING MINUTES. THE FINAL COMPLETED FORM 990 IS PROVIDED TO THE COOPERATIVE'S INDEPENDENT AUDITOR FOR SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS, DISCUSSES, AND RESOLVES CONFLICTS ON AN ONGOING BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS MEET TO DISCUSS PROPOSED COMPENSATION INCREASES. RECOMMENDATIONS ARE PASSED BY A MAJORITY VOTE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE SHALL PRODUCE THE DOCUMENTS UPON RECEIPT OF A WRITTEN REQUEST OF THE PUBLIC. THE COOPERATIVE KEEPS A RECORD OF THE WRITTEN REQUEST. FORM 990, PART XI, LINE 9: MEMBERSHIPS ISSUED 6,800.