2025-08-15T08:31:10-05:00 2024-12-31 994625061 CRI ADVISORS LLC 1117 BOLL WEEVIL CIRCLE ENTERPRISE AL 36330 990 2024-01-01 590504115 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION INC WEST 8502633231 PO BOX 127 GRACEVILLE FL 32440 WAYNE WILLIAMS EXECUTIVE VP & CEO 8502633231 2025-08-14 1 1 BRUCE AVERETT P01352375 3343470088 2025-08-14 X 2024 2025-03-06 01:10:19Z WAYNE WILLIAMS PO BOX 127 GRACEVILLE FL 32440 78470807 0 X WWW.WESTFLORIDA.COOP 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 9 109 0 229493 0 0 0 72802202 76961306 61902 60777 994277 1448724 73858381 78470807 0 0 0 0 3243449 3855529 0 0 0 67782300 70715343 71025749 74570872 2832632 3899935 170906277 173963650 80446401 78018056 90459876 95945594 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 68172979 PROVIDING ELECTRICITY TO MEMBERS 68172979 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 65 0 1 109 1 1 1 0 0 0 0 0 0 76961306 1308108 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 1 0 FL X SHAWN WALLING 8502633231 PO BOX 127 GRACEVILLE FL 32440 DAVID CORBIN VICE PRESIDENT 2.00 X 15700 0 0 DAVID TATUM DIRECTOR 2.00 X 17800 0 0 GEORGE OWENS DIRECTOR 2.00 X 19200 0 0 JACKIE POOSER DIRECTOR 2.00 X 16400 0 0 MELISSA DAWN ERICKSON DIRECTOR 2.00 X 14100 0 0 JOHN W ADAMS DIRECTOR 2.00 X 20600 0 0 MYRON HUDSON SECRETARY-TREASURER 2.00 X 17800 0 0 RANDY BUSH DIRECTOR 2.00 X 18150 14200 0 TIM ALFORD PRESIDENT 2.00 X 18850 0 0 MARIE ASHWORTH CFO 40.00 X 105236 0 0 SHAWN WALLING FORMER EXECUTIVE VP & CEO 40.00 X 227049 15753 59299 DONNIE WORLEY SAFETY MANAGER 40.00 X 131256 0 0 JAMIE ALDAY KEY EMPLOYEE 40.00 X 126635 0 0 KALEB FROST KEY EMPLOYEE 40.00 X 115051 0 0 KEITH VARNUM MANAGER - ENGINEERING 40.00 X 223079 0 21284 LUKE GATES KEY EMPLOYEE 40.00 X 134264 0 27597 WAYNE WILLIAMS INTERIM EXECUTIVE VP & CEO 40.00 X 156130 4650 10925 JAMES EFURD CHIEF INFORMATION OFFICER 40.00 X 150494 0 73396 PENNY BRYAN VP OF ADMINISTRATION 40.00 X 142795 0 141367 JONATHAN LOVE KEY EMPLOYEE 40.00 X 148173 0 32112 WESLEY DUBOISE KEY EMPLOYEE 40.00 X 139600 0 39741 KEVIN NELSON KEY EMPLOYEE 40.00 X 125347 0 64108 2083709 34603 469829 13 0 1 0 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 RIGHT OF WAY SERVICES 3057250 LEE ELECTRICAL CONSTRUCTION LLC 12828 US-501 ABERDEEN NC 28315 CONSTRUCTION 1045635 MERIDIAN COOPERATIVE 100 ASHFORD CENTER N ATLANTA GA 30338 UTILITY TECHNOLOGY COMPANY 923077 STUART C IRBY CO LLC 815 IRBY DRIVE JACKSON MS 39201 UTILITY TECHNOLOGY COMPANY 532749 DCMC LLC 400 HILLTOP TERRACE ALEXANDRIA VA 22301 CONSULTING SERVICES 181802 7 ELECTRIC SALES 221000 76961306 76961306 76961306 60777 60777 G&T AND OTHER CAPITAL CREDITS 221000 1219231 1219231 NON UTILITY OPERATIONS 900099 229493 229493 1448724 78470807 78241314 229493 0 2822894 1032635 499919 969494 108609 83249 3350413 5666454 COST OF POWER 45655868 DISTRIBUTION OPERATIONS 4625147 DISTRIBUTION MAINTENANC 4266469 CONSUMER ACCOUNTS 1826439 3663282 74570872 2009253 1393496 17771755 15183912 5567333 5405747 461270 537317 173821029 53678679 114549795 120142350 28215174 29218263 2331697 2082565 170906277 173963650 6490500 6278946 500000 500000 70971062 68760247 2484839 2478863 80446401 78018056 X 149605 150815 0 0 90310271 95794779 90459876 95945594 170906277 173963650 X 3899935 1645804 -60021 X X 0 1 X 1 0 107212 107212 5583967 5583967 166754948 53678679 113076269 1374902 1374902 120142350 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 29218263 C 29218263 CONSUMER DEPOSITS 1985806 DEFERRED CREDITS 338434 DEFERRED COMPENSATION 154623 2478863 X 78470807 0 78470807 0 78470807 74772265 201393 201393 74570872 0 74570872 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 2024 OR 2023. THE COOPERATIVE HAS A NET OPERATING LOSS CARRYFORWARD OF $409,931 TO OFFSET FUTURE TAXABLE INCOME AS OF DECEMBER 31, 2024. 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 2021 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, 2024 AND 2023 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 2021. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON UTILITY OPERATIONS EXPENSES REPORTED ON FORM 990, PART XI, LINE 9 201,393. 0 0 0 SHAWN WALLING FORMER EXECUTIVE VP & CEO 227049 15753 0 0 0 0 39799 0 19500 0 286348 15753 0 0 PENNY BRYAN VP OF ADMINISTRATION 142795 0 0 0 0 0 122467 0 18900 0 284162 0 0 0 KEITH VARNUM MANAGER - ENGINEERING 223079 0 0 0 0 0 4341 0 16943 0 244363 0 0 0 JAMES EFURD CHIEF INFORMATION OFFICER 150494 0 0 0 0 0 67219 0 6177 0 223890 0 0 0 KEVIN NELSON KEY EMPLOYEE 125347 0 0 0 0 0 44608 0 19500 0 189455 0 0 0 JONATHAN LOVE KEY EMPLOYEE 148173 0 0 0 0 0 12612 0 19500 0 180285 0 0 0 WESLEY DUBOISE KEY EMPLOYEE 139600 0 0 0 0 0 20241 0 19500 0 179341 0 0 0 WAYNE WILLIAMS INTERIM EXECUTIVE VP & CEO 156130 4650 0 0 0 0 4418 0 6507 0 167055 4650 0 0 LUKE GATES KEY EMPLOYEE 134264 0 0 0 0 0 8402 0 19195 0 161861 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 10B ORGANIZATION HAVE DISTRICT OFFICES IN THE SAME GEOGRAPHICAL AREA MANAGED BY HOME OFFICE STAFF. ALL OFFICES MUST ABIDE BY THE GUIDELINES OUTLINED IN OUR POLICIES. 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 TRUSTEE IS REQUIRED TO CERTIFY ANNUALLY THAT THEY HAVE NO CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS VIA CONTRACT NEGOTIATION. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AT THE MEMBERSHIP MEETING. (ANNUAL MEETING) FORM 990, PART XI, LINE 9: NON UTILITY OPERATIONS EXPENSES -201,393. OTHER INCREASES 141,372. FORM 990, PART XII, LINE 2C NO CHANGE FROM PRIOR YEAR