2021-11-15T13:26:59-06:00 2020-12-31 721396621 CARR RIGGS & INGRAM LLC 1117 BOLL WEEVIL CIRCLE ENTERPRISE AL 36330 990 2020-01-01 590504115 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION INC WEST 8502633231 PO BOX 127 GRACEVILLE FL 32440 JAMES T PEEL EXECUTIVE VICE PRESIDENT & CEO 8502633231 2021-11-12 1 JAMES PEEL 999009999 BRUCE AVERETT P01352375 3343470088 2021-11-12 X 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JAMES T PEEL PO BOX 127 GRACEVILLE FL 32440 62175613 0 X WWW.WFECA.COM X 1937 FL WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 9 9 104 0 205640 0 0 0 62006423 60928524 165226 0 6148136 1247089 68319785 62175613 0 0 0 0 2145460 2257100 0 0 0 56212876 54967613 58358336 57224713 9961449 4950900 177258723 178514387 105525745 101899300 71732978 76615087 X WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 0 0 53063357 PROVIDING ELECTRICITY TO MEMBERS 53063357 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 161 0 1 104 1 1 1 0 0 0 0 0 0 0 0 60928524 1065585 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JAMES T PEEL 8502633231 PO BOX 127 GRACEVILLE FL 32440 JACKIE POOSER DIRECTOR 2.00 X 18800 0 0 JOHN W ADAMS SECRETARY-TREASURER 2.00 X 18100 0 0 GEORGE OWENS DIRECTOR 2.00 X 13900 0 0 DAVID CORBIN DIRECTOR 2.00 X 16350 0 0 JOE RONE PRESIDENT 2.00 X 18450 0 0 MYRON HUDSON DIRECTOR 2.00 X 14950 0 0 TIM ALFORD DIRECTOR 2.00 X 16700 0 0 RANDY BUSH VICE PRESIDENT 2.00 X 14950 30105 0 DAVID TATUM DIRECTOR 2.00 X 14250 0 0 JAMES T PEEL EXECUTIVE VP & CEO 40.00 X 177564 20001 40359 RUSSELL DUNAWAY PREVIOUS CEO 40.00 X 40002 0 0 MARIE ASHWORTH CFO 40.00 X 130995 0 186812 KEITH VARNUM MANAGER - ENGINEERING 40.00 X 123979 0 219158 WESLEY DUBOISE APPRENTICE LINE WORKER 40.00 X 116014 0 35368 WAYNE WILLIAMS V.P. OF OPERATIONS 40.00 X 110251 0 18230 AUBREY RUSTIN LINE CREW LEADER 40.00 X 111573 0 17435 DEBRA KAMKE MGR., PERSONNEL & BENEFITS 40.00 X 109228 0 18024 1066056 50106 535386 10 0 1 0 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 RIGHT OF WAY SERVICES 1711926 CONTRACTING UNLIMITED INC PO BOX 811 CHIPLEY FL 32428 CONTRACTING 540625 MUSGROVE CONSTRUCTION LLC 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 CONSTRUCTION 400514 DCMC LLC 515 BRAXTON PLACE ALEXANDRIA VA 22301 DISASTER CONSULTING 347976 BURFORD'S TREE LLC 80 SPRING BRANCH DRIVE SUITE F ALEXANDRIA PA 36250 RIGHT OF WAY SERVICES 226898 9 ELECTRIC SALES 221000 60928524 60928524 60928524 G&T AND OTHER CAPITAL CREDITS 221000 1041449 1041449 NON UTILITY OPERATIONS 900099 205640 205640 1247089 62175613 61969973 205640 0 1777241 479859 266742 828218 104874 51955 2873486 4825040 COST OF POWER 35559162 DISTRIBUTION OPERATIONS 3398646 DISTRIBUTION MAINTENANC 2957751 CONSUMER ACCOUNTS 1441019 2660720 57224713 5244959 6387578 37530416 36559089 9200455 6945767 347387 360128 142563811 43493961 96184602 99069850 25273020 26089929 3477884 3102046 177258723 178514387 5441725 5666357 500000 500000 97264731 93441094 2319289 2291849 105525745 101899300 X 140730 143000 0 0 71592248 76472087 71732978 76615087 177258723 178514387 X 4950900 -68791 X 0 1 X 1 0 107212 107212 4972869 4972869 135616905 43493961 92122944 1866825 1866825 99069850 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 26089929 C 26089929 CONSUMER DEPOSITS 1647856 DEFERRED CREDITS 241217 DEFERRED COMPENSATION 402776 2291849 X 62175613 0 62175613 0 62175613 57406217 181504 181504 57224713 0 57224713 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE ON ANY INCOME RELATED TO ITS EXEMPT PURPOSE. THE COOPERATIVE INCURS UNRELATED BUSINESS TAXABLE INCOME (UBTI) UNDER THE CODE ON CERTAIN REVENUE STREAMS. THERE ARE NO PROVISIONS FOR INCOME TAXES FOR 2020 OR 2019. THE COOPERATIVE HAS A NET OPERATING LOSS CARRYFORWARD OF $400,419 TO OFFSET FUTURE TAXABLE INCOME AS OF DECEMBER 31, 2020. THE COOPERATIVE UTILIZES THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISION OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. SUCH TAX POSITIONS INITIALLY AND SUBSEQUENTLY NEED TO BE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY ASSUMING FULL KNOWLEDGE OF THE POSITION AND RELEVANT FACTS. THE COOPERATIVE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS AND THAT ITS ACCRUALS FOR TAX LIABILITIES, IF ANY, ARE ADEQUATE FOR ALL OPEN TAX YEARS (AFTER 2016 FOR FEDERAL AND STATE) BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE COOPERATIVE EVALUATED ITS INCOME TAX POSITIONS ON AN ANNUAL BASIS. MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2020 AND 2019 THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS IN INCOME TAX EXPENSE IF INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR TAX PERIODS BEFORE 2017. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON UTILITY OPERATIONS EXPENSES REPORTED ON FORM 990, PART XI, LINE 9 181,504. 0 0 0 KEITH VARNUM MANAGER - ENGINEERING 123979 0 0 0 0 0 203882 0 15276 0 343137 0 0 0 MARIE ASHWORTH CFO 130995 0 0 0 0 0 171953 0 14859 0 317807 0 0 0 JAMES T PEEL EXECUTIVE VP & CEO 177564 20001 0 0 0 0 25083 0 15276 0 217923 20001 0 0 WESLEY DUBOISE APPRENTICE LINE WORKER 116014 0 0 0 0 0 20092 0 15276 0 151382 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS OF THE COOPERATIVE PROVIDE FOR NINE MEMBERS TO MAKE UP ITS BOARD OF TRUSTEES REPRESENTING A CROSS-SECTION OF ITS MEMBERSHIP. EACH OF THE NINE DISTRICTS ARE REPRESENTED BY A MEMBER-ELECTED TRUSTEE. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED FOR ACCURACY BY THE CHIEF EXECUTIVE OFFICER, THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL BEFORE BEING EXECUTED AND FILED EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS ARE REQUIRED TO CERTIFY THEY DO NO HAVE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY IS SET BY THE BOARD OF TRUSTEES BASED ON COMPENSATION SURVEYS FOR ELECTRIC CO-OPS OF SIMILAR SIZE. CEO SETS SALARY FOR KEY EMPLOYEES BASED ON COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE MADE AVAILABLE AT THE ANNUAL MEMBERSHIP MEETING FORM 990, PART XI, LINE 9: NON UTILITY OPERATIONS EXPENSES -181,504. OTHER INCREASES 112,713.