TOUCHSTONE ENERGY COOPERATIVE INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- TOUCHSTONE ENERGY COOPERATIVE INC (EIN 54-1978503)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2022-11-14
- IRS object ID
- 202213189349313361
- Schema version
- 2020v4.2
- 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 | 2022-11-14T14:35:50-06:00 | ReturnTs |
| Tax Period End | 2020-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 541978503 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Touchstone Energy Cooperative Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TOUC | BusinessNameControlTxt |
| Phone | 7039076354 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 Wilson Blvd | AddressLine1Txt |
| City | Arlington | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 222031860 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Veneicia Lockhart | PersonNm |
| Person Title | Asst Secretary/Treasurer | PersonTitleTxt |
| Phone | 7039075960 | PhoneNum |
| Signature | 2022-11-14 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Veneicia | PersonFirstNm |
| Person Last | Lockhart | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
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 | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Jeffrey Connor | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 Wilson Blvd | AddressLine1Txt |
| City | Arlington | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22203 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,240,209 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | https://touchstoneenergy.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2000 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | Touchstone Energy Cooperative, Inc. (TSEC) is the national network of approximately 700 electric cooperatives that provides resources and leverages partnerships to help its member cooperatives and their employees to better engage and serve their member-owners. Touchstone Energy provides a suite of programs and resources that help its members strengthen relationships with their member/owners.TSEC accomplishes this through the Best in Class model by providing strategic programs, branded resources, and tools to help cooperatives build member engagement and satisfaction to be the "gold standard" of excellence in the energy industry. Values: Integrity, Accountability, Innovation and Commitment to Community | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 88 | TotalVolunteersCnt |
| Total Gross UBI | $42,491 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $9,575,183 | PYContributionsGrantsAmt |
| CY Contributions Grants | $9,401,529 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $814,372 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $722,395 | CYProgramServiceRevenueAmt |
| PY Investment Income | $160,373 | PYInvestmentIncomeAmt |
| CY Investment Income | $116,285 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $10,549,928 | PYTotalRevenueAmt |
| CY Total Revenue | $10,240,209 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $9,223,290 | PYOtherExpensesAmt |
| CY Other Expenses | $8,800,313 | CYOtherExpensesAmt |
| PY Total Expenses | $9,223,290 | PYTotalExpensesAmt |
| CY Total Expenses | $8,800,313 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,326,638 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,439,896 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $6,856,420 | TotalAssetsBOYAmt |
| Total Assets EOY | $9,757,132 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $515,655 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,976,471 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $6,340,765 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $7,780,661 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Touchstone Energy is a national network of electric cooperatives that provides programs and resources that help its members strengthen relationships with their member/owners. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Conducted Research and Delivered Education Programs for Membership - In 2020, TSEC provided the membership with best practice research documents, programs to assess member satisfaction, and virtual educational events to help improve member satisfaction and engagement. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Provided Valuable Members Benefits - In 2020, 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. TSEC also launched a modernized member discount program that included opportunities to highlight and program local, small businesses. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Strengthened Brand Awareness Among Consumers - In 2020, 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. | 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 | Yes (1) | 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 | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | 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 | 0 | 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 | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| 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 |
| 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 | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | 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 | Yes (1) | 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 | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | 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 | Stephen Sandberg co NRECA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7039076529 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4301 Wilson Blvd | AddressLine1Txt |
| City | Arlington | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 222031860 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| Douglas Miller | ||||||
| Director/President | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Deborah Mirasola | ||||||
| Director/Vice-President | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Jennifer Goss | ||||||
| Director/Secretary-Treasur | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Kevin Bernson | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Norman Fandel | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Lou Green | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Marty Haught | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Tresa Hussong | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Dick Johnson | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Tim McCarthy | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Bob Perry | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Mark Stallons | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Doug Tracy | ||||||
| Director | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Veneicia Lockhart | ||||||
| Asst. Secretary-Treasurer | 0.10 | Yes (X) | $0 | $0 | $0 | |
| Jana Adams | ||||||
| Executive Director | 40.00 | Yes (X) | $0 | $0 | $0 | |
| Jeffrey Connor | ||||||
| Interim Executive DIrector | 9.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | 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 |
|---|---|---|---|---|---|
| Assembly | |||||
| 909 Third Avenue 31st floor | New York | NY | 10022 | Ad Agency | $1,972,087 |
| Harvest Creative | |||||
| 1011 N washington Ave | Lansing | MI | 48906 | Produce Advertising spots | $356,149 |
| Appnovation USA Inc | |||||
| 1600-3414 Peachtree Rd | Atlanta | GA | 30326 | Computer Services | $297,225 |
| ACSI LLC | |||||
| 625 Avis Dr | Ann Arbor | MI | 48108 | Consumer Satisfaction Surveys | $206,000 |
| Omni Hotels and Resorts | |||||
| 39 Beach Lagoon Road | Amelia Island | FL | 32034 | Conference Hosting | $192,870 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $9,401,529 | MembershipDuesAmt |
| Total Contributions | $9,401,529 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| Professional Development Training | 611430 | $496,594 | $496,594 | |
| Website Design | 541511 | $144,590 | $144,590 | |
| Co-op Connections Program | 900099 | $42,491 | $0 | $42,491 |
| Other Professional Services | 541990 | $38,720 | $38,720 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $722,395 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $116,285 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $116,285 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,240,209 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $796,189 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $42,491 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,760,326 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,460 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,760 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $257,985 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,536,172 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $441,914 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $381,332 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $113,112 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $332,806 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $170,215 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,772 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Research | $392,514 |
| Contracted Personnel | $229,246 |
| Consulting Fees | $69,971 |
| Telephone, Postage and | $26,732 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,996 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,800,313 | TotalAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,218,023 | BOYAmt |
| EOY | $9,262,806 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $237,293 | BOYAmt |
| EOY | $112,593 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,137,605 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $755,872 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $401,104 | BOYAmt |
| EOY | $381,733 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,856,420 | BOYAmt |
| EOY | $9,757,132 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,840 | BOYAmt |
| EOY | $129,019 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $370,815 | BOYAmt |
| EOY | $1,847,452 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $515,655 | BOYAmt |
| EOY | $1,976,471 | 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 | $6,340,765 | BOYAmt |
| EOY | $7,780,661 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,340,765 | BOYAmt |
| EOY | $7,780,661 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,856,420 | BOYAmt |
| EOY | $9,757,132 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,439,896 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| 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 C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | Yes (1) | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $260,390 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $179,407 | DepreciationAmt |
| Book Value | $80,983 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $877,215 | InvestmentCostOrOtherBasisAmt |
| Depreciation | $576,465 | DepreciationAmt |
| Book Value | $300,750 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $381,733 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,240,209 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,240,209 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,240,209 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $8,800,313 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $8,800,313 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $8,800,313 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 1 | 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 seperate 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, 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 Senior VP of Finance 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 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. |