2022-11-14T14:35:50-06:00 2020-12-31 990 2020-01-01 541978503 Touchstone Energy Cooperative Inc TOUC 7039076354 4301 Wilson Blvd Arlington VA 222031860 Veneicia Lockhart Asst Secretary/Treasurer 7039075960 2022-11-14 Veneicia Lockhart XXX-XX-XXXX 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z Jeffrey Connor 4301 Wilson Blvd Arlington VA 22203 10240209 0 X https://touchstoneenergy.com X 2000 VA 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 13 13 0 88 42491 0 9575183 9401529 814372 722395 160373 116285 0 0 10549928 10240209 0 0 0 0 0 0 0 0 0 9223290 8800313 9223290 8800313 1326638 1439896 6856420 9757132 515655 1976471 6340765 7780661 Touchstone Energy is a national network of electric cooperatives that provides programs and resources that help its members strengthen relationships with their member/owners. 0 0 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. 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. 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. 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 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 0 1 0 0 0 1 1 0 0 0 0 0 0 0 X 13 13 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X Stephen Sandberg co NRECA 7039076529 4301 Wilson Blvd Arlington VA 222031860 X Douglas Miller Director/President 2.00 X X 0 0 0 Deborah Mirasola Director/Vice-President 1.00 X X 0 0 0 Jennifer Goss Director/Secretary-Treasur 1.00 X X 0 0 0 Kevin Bernson Director 1.00 X 0 0 0 Norman Fandel Director 1.00 X 0 0 0 Lou Green Director 1.00 X 0 0 0 Marty Haught Director 1.00 X 0 0 0 Tresa Hussong Director 1.00 X 0 0 0 Dick Johnson Director 1.00 X 0 0 0 Tim McCarthy Director 1.00 X 0 0 0 Bob Perry Director 1.00 X 0 0 0 Mark Stallons Director 1.00 X 0 0 0 Doug Tracy Director 1.00 X 0 0 0 Veneicia Lockhart Asst. Secretary-Treasurer 0.10 X 0 0 0 Jana Adams Executive Director 40.00 X 0 0 0 Jeffrey Connor Interim Executive DIrector 9.00 X 0 0 0 0 0 0 0 0 0 0 Assembly 909 Third Avenue 31st floor New York NY 10022 Ad Agency 1972087 Harvest Creative 1011 N washington Ave Lansing MI 48906 Produce Advertising spots 356149 Appnovation USA Inc 1600-3414 Peachtree Rd Atlanta GA 30326 Computer Services 297225 ACSI LLC 625 Avis Dr Ann Arbor MI 48108 Consumer Satisfaction Surveys 206000 Omni Hotels and Resorts 39 Beach Lagoon Road Amelia Island FL 32034 Conference Hosting 192870 9 9401529 9401529 Professional Development Training 611430 496594 496594 Website Design 541511 144590 144590 Co-op Connections Program 900099 42491 0 42491 Other Professional Services 541990 38720 38720 722395 116285 116285 10240209 796189 42491 0 3760326 23460 15760 257985 2536172 441914 381332 113112 332806 170215 23772 Research 392514 Contracted Personnel 229246 Consulting Fees 69971 Telephone, Postage and 26732 24996 8800313 6218023 9262806 237293 112593 1137605 755872 401104 381733 6856420 9757132 144840 129019 370815 1847452 515655 1976471 X 0 0 0 0 6340765 7780661 6340765 7780661 6856420 9757132 1439896 0 X 0 1 X 1 0 0 1 0 260390 179407 80983 877215 576465 300750 381733 X 10240209 0 10240209 0 10240209 8800313 0 8800313 0 8800313 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 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.