PETIT JEAN ELECTRIC COOPERATIVE CORPORATION: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- PETIT JEAN ELECTRIC COOPERATIVE CORPORATION (EIN 71-0139955)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-14
- IRS object ID
- 202223189349316592
- 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 | 2022-11-14T16:33:19-06:00 | 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 | 710139955 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETIT JEAN ELECTRIC COOPERATIVE | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PETI | BusinessNameControlTxt |
| Phone | 5017452493 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 37 | AddressLine1Txt |
| City | CLINTON | CityNm |
| State Abbreviation | AR | StateAbbreviationCd |
| ZIP | 72031 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DONNIE COLLINS | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 5017452493 | PhoneNum |
| Signature | 2022-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DONNIE | PersonFirstNm |
| Person Last | COLLINS | 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 | 2022-11-13 | 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 | MICHAEL KIRKLAND | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 37 | AddressLine1Txt |
| City | CLINTON | CityNm |
| State Abbreviation | AR | StateAbbreviationCd |
| ZIP | 72031 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $40,735,640 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PJECC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | AR | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 8 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 73 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | -$6,069 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $31,942,962 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $38,642,372 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,220,085 | PYInvestmentIncomeAmt |
| CY Investment Income | $468,739 | CYInvestmentIncomeAmt |
| PY Other Revenue | $283,929 | PYOtherRevenueAmt |
| CY Other Revenue | $1,621,888 | CYOtherRevenueAmt |
| PY Total Revenue | $33,446,976 | PYTotalRevenueAmt |
| CY Total Revenue | $40,732,999 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $9,740 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $6,838 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,746,651 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $2,194,902 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,274,934 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $5,770,494 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $25,677,604 | PYOtherExpensesAmt |
| CY Other Expenses | $32,425,136 | CYOtherExpensesAmt |
| PY Total Expenses | $33,708,929 | PYTotalExpensesAmt |
| CY Total Expenses | $40,397,370 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$261,953 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $335,629 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $106,545,292 | TotalAssetsBOYAmt |
| Total Assets EOY | $119,449,116 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $64,528,991 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $75,104,956 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $42,016,301 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $44,344,160 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE RELIABLE AND QUALITY ELECTRIC SERVICE AT FAIR AND COMPETITIVE PRICES. WE PROVIDE LEADERSHIP WITHIN LOCAL COMMUNITIES TO FACILITATE POSITIVE GROWTH WITHIN OUR SERVICE AREA. | 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 20,601 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 | Yes (1) | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 31 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 73 | 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 | $38,514,572 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,306,803 | 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 | 8 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | 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 |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MARIANNE PYEATT MANAGER OF FINANCE AND ACCOUNTING | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5017452493 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 270 QUALITY DR | AddressLine1Txt |
| City | CLINTON | CityNm |
| State Abbreviation | AR | StateAbbreviationCd |
| ZIP | 72031 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| RICHARD COLLINS JR | |||||||
| DIRECTOR | 6.60 | Yes (X) | $30,173 | $0 | $0 | ||
| DONNIE COLLINS | |||||||
| PRESIDENT | 2.70 | Yes (X) | $24,094 | $0 | $0 | Yes (X) | |
| ADDISON WOOD | |||||||
| DIRECTOR | 2.80 | Yes (X) | $23,782 | $0 | $0 | ||
| WILLIAM DERICKSON | |||||||
| DIRECTOR | 1.20 | Yes (X) | $23,036 | $0 | $0 | ||
| FREDERICK HERMAN | |||||||
| SECRETARY/TREASURER | 3.80 | Yes (X) | $23,020 | $0 | $0 | Yes (X) | |
| JEREL BROWN | |||||||
| DIRECTOR | 2.60 | Yes (X) | $22,670 | $0 | $0 | ||
| DARRELL ALLEN | |||||||
| DIRECTOR | 3.30 | Yes (X) | $22,473 | $0 | $0 | ||
| TERRY KIRKENDOLL | |||||||
| DIRECTOR | 3.10 | Yes (X) | $22,000 | $0 | $0 | ||
| CARROL BRADFORD JAN-SEPT | |||||||
| VICE PRESIDENT | 2.60 | Yes (X) | $17,185 | $0 | $0 | Yes (X) | |
| MICHAEL KIRKLAND | |||||||
| CEO/GENERAL MANAGER | 60.00 | $255,912 | $0 | $271,674 | Yes (X) | ||
| MARIANNE PYEATT | |||||||
| MANAGER OF FINANCE AND ACC | 60.00 | $93,379 | $0 | $40,045 | Yes (X) | ||
| SHERRY BETTIS JAN | |||||||
| MANAGER OF FINANCE AND ACC | 45.00 | $56,985 | $0 | $42,780 | Yes (X) | ||
| MICHAEL GARBOW | |||||||
| MANAGER OF ENGINEERING | 43.00 | $121,925 | $0 | $83,844 | Yes (X) | ||
| JOHNNY MOORE | |||||||
| MANAGER OF OPERATIONS | 50.00 | $112,018 | $0 | $91,011 | Yes (X) | ||
| WILLIAM TESTER | |||||||
| BRANCH MANAGER | 60.00 | $115,542 | $0 | $79,959 | Yes (X) | ||
| JAMIE REEVES | |||||||
| FOREMAN | 47.80 | $102,267 | $0 | $72,246 | Yes (X) | ||
| THOMAS HENDERSON | |||||||
| SUBSTATION/LINE TECH | 51.30 | $108,048 | $0 | $55,161 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,174,509 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $736,720 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 6 | 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 |
|---|---|---|---|---|---|
| ASPLUNDH TREE EXPERT CO | |||||
| PO BOX 532729 | ATLANTA | GA | 30353 | RIGHT OF WAY CLEARING | $2,179,787 |
| MDR CONSTRUCTION | |||||
| 321 EAST BAYLIS CHAPEL ROAD | COLUMBIA | MS | 39429 | CONSTRUCTION CONTRACTOR | $1,530,612 |
| CONEXON LLC | |||||
| 2001 GRAND BLVD STE 700 | KANSAS CITY | MO | 64108 | MANAGEMENT, CONSULTING, MAKE READY ENGIN | $1,072,582 |
| ARKANSAS ELECTRIC COOPERATIVE INC | |||||
| PO BOX 190257 | LITTLE ROCK | AR | 72219 | RIGHT OF WAY CLEARING, CONSTRUCTION, & T | $722,611 |
| PIKE ELECTRIC LLC | |||||
| 100 PIKE WAY | MOUNT AIRY | NC | 27030 | ELECTRIC CONTRACTOR | $521,721 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 10 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $37,915,725 | $37,915,725 |
| PATRONAGE DIVIDENDS | 221000 | $536,026 | $536,026 |
| SERVICE FEES | 221000 | $165,443 | $165,443 |
| OTHER PROGRAM REVENUE | 221000 | $25,178 | $25,178 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $38,642,372 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $468,739 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$14,325 | UnrelatedBusinessRevenueAmt |
| Exclusion | $483,064 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,802 | TotalRevenueColumnAmt |
| Exclusion | $5,802 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $3,258 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $2,641 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $617 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $617 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| PPP LOAN FORGIVENESS | 221000 | $1,260,837 | $1,260,837 | |
| POLE ATTACHMENT INCOME | 221000 | $346,376 | $346,376 | |
| BROADBAND INTERNET SALES | 517000 | $8,256 | $8,256 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,615,469 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,732,999 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $38,642,989 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$6,069 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,096,079 | 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 | $6,838 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,194,902 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $969,208 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,929,667 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $858,410 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $768,131 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $245,078 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,054,454 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,654,032 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $20,552,107 |
| DISTRIBUTION EXPENSE | $3,818,677 |
| OPERATING TAXES | $764,290 |
| ADMIN & GENERAL EXPENSE | $682,208 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $899,368 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,397,370 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,490,277 | BOYAmt |
| EOY | $1,131,763 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,600,601 | BOYAmt |
| EOY | $4,702,708 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,811,649 | BOYAmt |
| EOY | $3,384,368 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $794,166 | BOYAmt |
| EOY | $2,961,079 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $754,754 | BOYAmt |
| EOY | $540,236 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $133,995,981 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $40,424,955 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,633,066 | BOYAmt |
| EOY | $93,571,026 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,047,430 | BOYAmt |
| EOY | $12,188,201 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $220,686 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $413,349 | BOYAmt |
| EOY | $749,049 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,545,292 | BOYAmt |
| EOY | $119,449,116 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,173,378 | BOYAmt |
| EOY | $5,928,724 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,658,068 | BOYAmt |
| EOY | $62,649,678 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,697,545 | BOYAmt |
| EOY | $6,526,554 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,528,991 | BOYAmt |
| EOY | $75,104,956 | 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 | $318,995 | BOYAmt |
| EOY | $322,050 | 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 | $41,697,306 | BOYAmt |
| EOY | $44,022,110 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,016,301 | BOYAmt |
| EOY | $44,344,160 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,545,292 | BOYAmt |
| EOY | $119,449,116 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $335,629 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,992,230 | 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 | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,718,405 | OtherCostOrOtherBasisAmt |
| Book Value | $1,718,405 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,901,219 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,279,314 | DepreciationAmt |
| Book Value | $2,621,905 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $117,469,481 | OtherCostOrOtherBasisAmt |
| Depreciation | $39,145,641 | DepreciationAmt |
| Book Value | $78,323,840 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,906,876 | OtherCostOrOtherBasisAmt |
| Book Value | $10,906,876 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $93,571,026 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (9 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PATRONAGE CAPITAL - AECC | $9,922,681 | C |
| PATRONAGE CAPITAL - AECI | $503,445 | C |
| PATRONAGE CAPITAL - CFC | $304,089 | C |
| PATRONAGE CAPITAL - FEDERATED | $325,222 | C |
| PATRONAGE CAPITAL - NISC | $202,458 | C |
| CAPITAL TERM CERTIFICATES - CFC | $755,550 | C |
| ARKANSAS RURAL ELECTRIC SELF-INS TRUST | $23,257 | C |
| DIAMOND STATE NETWORK | $145,675 | C |
| OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS | $5,824 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $12,188,201 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCUMULATED PROVISION FOR POST RETIREMENT BENEFITS | $2,848,277 |
| CONSUMER DEPOSITS | $1,503,983 |
| ACCRUED PROPERTY TAXES | $780,000 |
| REFUNDABLE AID TO CONSTRUCTION | $105,746 |
| UNCLAIMED CAPITAL CREDITS | $1,288,548 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,526,554 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $40,732,999 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $40,732,999 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $40,732,999 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $38,202,468 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $38,202,468 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,194,902 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,194,902 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $40,397,370 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COOPERATIVE FOLLOWS 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) AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 2,194,902. |
| 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 (6 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MICHAEL KIRKLAND | ||||||||||||||
| CEO/GENERAL MANAGER | $249,984 | $0 | $113 | $0 | $5,815 | $0 | $245,686 | $0 | $25,988 | $0 | $527,586 | $0 | $0 | $0 |
| MICHAEL GARBOW | ||||||||||||||
| MANAGER OF ENGINEERING | $117,595 | $0 | $271 | $0 | $4,059 | $0 | $60,807 | $0 | $23,037 | $0 | $205,769 | $0 | $0 | $0 |
| JOHNNY MOORE | ||||||||||||||
| MANAGER OF OPERATIONS | $107,570 | $0 | $325 | $0 | $4,123 | $0 | $70,121 | $0 | $20,890 | $0 | $203,029 | $0 | $0 | $0 |
| WILLIAM TESTER | ||||||||||||||
| BRANCH MANAGER | $110,023 | $0 | $341 | $0 | $5,178 | $0 | $55,880 | $0 | $24,079 | $0 | $195,501 | $0 | $0 | $0 |
| JAMIE REEVES | ||||||||||||||
| FOREMAN | $100,855 | $0 | $190 | $0 | $1,222 | $0 | $52,736 | $0 | $19,510 | $0 | $174,513 | $0 | $0 | $0 |
| THOMAS HENDERSON | ||||||||||||||
| SUBSTATION/LINE TECH | $107,593 | $0 | $179 | $0 | $276 | $0 | $28,015 | $0 | $27,146 | $0 | $163,209 | $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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. MICHAEL KIRKLAND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 233,138 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,548 TOTAL REPORTED IN COLUMN C $ 245,686 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (233,138) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 92,774 EXPENSE TO THE COOPERATIVE $ 105,322 MICHAEL GARBOW: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,563 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,244 TOTAL REPORTED IN COLUMN C $ 60,807 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,563) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,864 EXPENSE TO THE COOPERATIVE $ 53,108 JOHNNY MOORE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,485 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,636 TOTAL REPORTED IN COLUMN C $ 70,121 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (64,485) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,295 EXPENSE TO THE COOPERATIVE $ 47,931 WILLIAM TESTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,244 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,636 TOTAL REPORTED IN COLUMN C $ 55,880 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,244) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,295 EXPENSE TO THE COOPERATIVE $ 47,931 JAMIE REEVES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,833 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,903 TOTAL REPORTED IN COLUMN C $ 52,736 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,833) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,324 EXPENSE TO THE COOPERATIVE $ 32,227 THOMAS HENDERSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,015 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 28,015 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,015) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,324 EXPENSE TO THE COOPERATIVE $ 28,324 | 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 NET INCOME OF $335,629, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE. 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 THESE TRANSACTIONS: ADD: UNBILLED REVENUE 12/31/21 $ 740,736 LESS: UNBILLED REVENUE 12/31/20 (405,107) (A) - NET INCREASE IN UNBILLED REVENUE 335,629 (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $ 2,194,902 TOTAL 2021 NET MARGIN (A + B) $ 2,530,531 |
| FORM 990, PART VI, SECTION A, LINE 2 | BUSINESS RELATIONSHIP: FREDERICK HARMAN (DIRECTOR), DONNIE COLLINS (DIRECTOR), AND MICHAEL KIRKLAND (CEO) SERVED ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVE CORPORATION (AECC) AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. TERRY KIRKENDOLL (DIRECTOR), RICHARD COLLINS (DIRECTOR), AND MICHAEL KIRKLAND (CEO) SERVED ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVES, INC (AECI) AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. |
| 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 DIRECTORS THROUGH VOTING DISTRICTS. BASED ON GEOGRAPHICAL LOCATION, THE MEMBERS ARE ASSIGNED TO A DISTRICT AND REPRESENTED BY A DIRECTOR VOTED ON AND LIVING IN THE RESPECTIVE DISTRICT. EVERY FIVE YEARS AT THE END OF THE RESPECTIVE DIRECTOR'S TERM, ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. PURSUANT TO THE REQUIREMENTS OF ARTICLE IV, SECTION 6 OF THE BYLAWS, MEMBERS ALSO HAVE THE ABILITY TO PETITION AND VOTE FOR THE REMOVAL OF A DIRECTOR. |
| 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. MEMBER INITIATED PROPOSALS |
| 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. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS AND OFFICERS ARE RESPONSIBLE TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO ANNUALLY COMPLETE A DISCLOSURE OF ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING THE COMPENSATION FOR THE CEO BASED ON AN ANNUAL REVIEW. INTERNAL AND/OR EXTERNAL RESOURCES ARE ALSO USED TO COMPARE ANNUAL COMPENSATION WITHIN THE INDUSTRY. THE BOARD OF DIRECTORS AND CEO DETERMINES COMPENSATION FOR OFFICERS OF THE COOPERATIVE ANNUALLY BASED ON A COMPENSATION SURVEY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE PROVIDES A COPY OF THE BYLAWS AT THE TIME AN APPLICATION FOR SERVICE IS COMPLETED. ADDITIONALLY, THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE MAILS A COPY OF THE ANNUAL REPORT, WHICH INCLUDES FINANCIAL STATEMENTS AND RELEVANT FINANCIAL DATA FOR THE PAST THREE YEARS. ADDITIONAL INFORMATION REPORTED TO THE ARKANSAS PUBLIC SERVICE COMMISSION (APSC) IS AVAILABLE TO THE PUBLIC ON THE ASPC WEBSITE. |
| 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 PLAN 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 AND HIGHLY COMPENSATED EMPLOYEES MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR OFFICERS AND THE HIGHLY COMPENSATED EMPLOYEE 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. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. |
| FORM 990, PART VIII, LINE 2: | 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 11A: | THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT) ESTABLISHED THE PAYCHECK PROTECTION PROGRAM (PPP) TO PROVIDE LOANS TO SMALL BUSINESSES AS A DIRECT INCENTIVE TO KEEP THEIR WORKERS ON THE PAYROLL. THE LOANS ARE FORGIVEN IF ALL EMPLOYEE RETENTION CRITERIA ARE MET AND THE FUNDS ARE USED FOR ELIGIBLE EXPENSES. DURING THE YEAR, THE COOPERATIVE APPLIED FOR AND RECEIVED A LOAN OF $1,260,837. AFTER FULFILLING THE REQUIREMENTS OF THE PROGRAM, THE COOPERATIVE RECORDED THE ANTICIPATED LOAN FORGIVENESS AS INCOME, BECAUSE THE NATURE OF THE PROGRAM IS COMPRISED OF A BONA FIDE LOAN FOLLOWED BY LOAN FORGIVENESS. ALTHOUGH THE INSTRUCTIONS TO FORM 990 STATE THAT THE AMOUNT OF PPP LOANS THAT ARE FORGIVEN MAY BE REPORTED ON LINE 1E AS CONTRIBUTIONS FROM A GOVERNMENTAL UNIT, THE COOPERATIVE HAS CHOSEN TO REPORT THE PPP LOAN FORGIVENESS AS OTHER INCOME ON LINE 11A. |
| FORM 990, PART IX: | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY 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, 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 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, 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 $ 3,898,875 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (208,433) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (354,499) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,623,280 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 312,224 TOTAL WAGES ACCRUED AND/OR PAID $ 5,271,447 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,426,080 OFFICE SUPPLIES 194,601 OUTSIDE SERVICES 146,171 INSURANCES 72,238 DIRECTORS 246,676 ANNUAL MEETING 16,193 MISCELLANEOUS GENERAL 138,475 REGULATORY COMMISSION 58,877 MAINTENANCE OF GENERAL PLANT 142,898 PETIT JEAN FIBER EXPENSES 21,746 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 2,463,955 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (208,433) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (943,623) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (629,691) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 682,208 |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CONSUMER ACCOUNTS $ 595,633 CUSTOMER SERVICE AND INFORMATION 323,433 TRANSMISSION 8,273 OTHER DEDUCTIONS 36,083 PROVISION FOR FEDERAL AND STATE INCOME TAXES (64,054) TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 899,368 |
| 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 2,194,902. PATRONAGE CAPITAL RETIRED -1,114,484. UNCLAIMED PATRONAGE CAPITAL RETIREMENTS RETAINED PER STATE LAW 397,547. NET CHANGE IN MEMBERSHIPS 3,055. OTHER COMPREHENSIVE INCOME PROVISION FOR POST-RETIREMENT BENEFIT OBLIGATION 511,210. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETIT JEAN FIBER LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 37 | AddressLine1Txt |
| City | CLINTON | CityNm |
| State Abbreviation | AR | StateAbbreviationCd |
| ZIP | 72031 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | BROADBAND INTERNET SERVICE | PrimaryActivitiesTxt |
| Legal Domicile State | AR | LegalDomicileStateCd |
| Total Income | $8,256 | TotalIncomeAmt |
| End Of Year Assets | $634,252 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETIT JEAN ELECTRIC COOPERATIVE | BusinessNameLine1Txt |