2021-11-11T12:27:16-06:00 2020-12-31 BKD LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2020-01-01 740524729 BRAZOS ELECTRIC POWER COOPERATIVE INC % MS KHAKI BORDOVSKY BRAZ 2547506500 7616 BAGBY AVE WACO TX 76712 CLIFTON KARNEI EXECUTIVE VP & GM 2547506500 2021-11-10 true CLIFTON KARNEI 000000000 AMBER SHERRILL P00748683 5013721040 2 2020 2022-09-23 18:48:47Z CLIFTON KARNEI 7616 BAGBY AVENUE WACO TX 76712 1063997926 false X WWW.BRAZOSELECTRIC.COM X 1941 TX TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING, PROCURING, AND TRANSMITTING RELIABLE POWER AT THE LOWEST COST. 16 16 456 0 0 0 0 0 1044787128 1048952004 16791150 13948494 597552 372761 1062175830 1063273259 0 0 61955595 84299807 38255930 44525334 0 0 0 961935523 934352740 1062147048 1063177881 28782 95378 3055152025 3165904422 2185313086 2233736730 869838939 932167692 TO PROVIDE VALUED SERVICE TO OUR MEMBERS AND CUSTOMERS BY GENERATING, PROCURING, AND TRANSMITTING RELIABLE POWER AT THE LOWEST COST. false false BRAZOS ELECTRIC POWER COOPERATIVE WAS FORMED FOR THE PURPOSE OF FURNISHING DEPENDABLE AND ECONOMICAL WHOLESALE ELECTRIC POWER AND ENERGY FOR RURAL ELECTRIC DISTRIBUTION COOPERATIVES. BRAZOS SERVES SIXTEEN MEMBER COOPS AND ONE MUNICIPALITY. false false false false false false false false false true false false false false false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 193 0 true 456 true false false false false false 1025196493 38076766 false true false X 16 16 false false false false true true false true true false false true true true true true true true true false AZ CA RI X MS KHAKI BORDOVSKY 2547506500 7616 BAGBY AVE WACO TX 76712 X CLIFTON KARNEI EXECUTIVE VP & GENERAL MANAGER 42.0 3.0 X 1063438 0 416561 JOHNNY YORK VP - TRANSMISSION 43.0 0.0 X 398800 0 371488 JOSH CLEVENGER VP - POWER SUPPLY 44.0 0.0 X 368702 0 195538 KHAKI BORDOVSKY VP - SERVICES 41.0 3.0 X 417548 0 145141 TRAVIS THRALL VP - GENERATION 45.0 0.0 X 277633 0 53286 KYLE MINNIX MANAGER COMMUNICATIONS 42.0 0.0 X 192402 0 127755 SHARI HEINO CHIEF COMPLIANCE OFFICER 42.0 0.0 X 237168 0 48598 RODNEY LITTLE MANAGER NETWORK SERVICES 43.0 0.0 X 202856 0 74119 BRENT FOX MANAGER FISCAL SERVICES 48.0 0.0 X 192330 0 77601 CARL CURRY PLANT MANAGER 48.0 0.0 X 186879 0 70523 ROBERT WALKER PLANT MANAGER 42.0 0.0 X 182041 0 48355 RICK ICKERT DIRECTOR 5.0 1.0 X 38815 1500 0 AUDIE MORRIS SECRETARY - TREASURER 9.0 1.0 X X 38208 1500 0 DENNIS MCWHORTER PRESIDENT 16.0 1.0 X X 37835 1500 0 WILLIAN ALLEN DIRECTOR 6.0 0.0 X 39239 0 0 LARRY BAYS VICE PRESIDENT 6.0 1.0 X X 37012 1500 0 HENRY BRADFORD DIRECTOR 5.0 1.0 X 36994 1500 0 JIM PENNINGTON DIRECTOR 8.0 0.0 X 38128 0 0 BILLY JONES DIRECTOR 5.0 0.0 X 37794 0 0 MONTY CARLISLE DIRECTOR 5.0 1.0 X 37532 0 0 BILL RAGSDALE DIRECTOR 7.0 0.0 X 37438 0 0 GLENN JONES DIRECTOR 7.0 1.0 X 35898 1500 0 STEVE JONES DIRECTOR 5.0 0.0 X 36952 0 0 KENNETH ALEXANDER DIRECTOR 5.0 2.0 X 26862 0 0 JORDEN WOOD DIRECTOR 8.5 2.5 X 18397 0 0 LARRY CORBETT DIRECTOR 7.0 1.0 X 3212 0 0 BRANDON YOUNG DIRECTOR 4.0 0.0 X 0 0 0 STEVE YOUNG DIRECTOR 1.5 0.0 X 0 0 0 ELAINE MARTIN DIRECTOR 6.0 0.0 X 0 0 0 DARRYL SHRIVER DIRECTOR 15.0 0.0 X 0 0 0 4216901 9000 1628965 176 false true false GENERAL ELECTRIC INTERNATIONAL 4200 WILDWOOD PARKWAY ATLANTA GA 30339 GENERATION MAINT. 21077702 SIEMENS ENERGY INC DEPT CH 10169 PALATINE IL 600550169 GENERATION MAINT. 10063712 PROENERGY SERVICES LLC PO BOX 677066 DALLAS TX 75267 GENERATION MAINT. 6374875 ETHOSENERGY POWER PLANT SERVICES L 30000 MILL CREEK AVE SUITE 300 ALPHARETTA GA 30022 GENERATION MAINT. 5431936 NORTHSTAR ENERGY SOLUTIONS LLC 3340 ROY ORR BLVD GRAND PRAIRIE TX 75050 TRANSMISSION CONSTR. 5421080 87 X 0 ELECTRIC ENERGY REVENUE 221000 1040710645 1040710645 OTHER MEMBER REVENUES 221000 7229105 7229105 CAPITAL CREDITS 221000 540551 540551 TRANSMISSION EXPORT REVENUE 221000 93886 93886 SALE OF EXCESS NATURAL GAS 221000 377817 377817 1048952004 13190954 13190954 0 170109 170109 200953 0 200953 200953 200953 1482207 724667 757540 757540 757540 0 0 0 0 0 0 0 0 0 All Other Misc Revenue 1699 1699 1699 1699 1699 1063273259 1048952004 14321255 0 0 0 84299807 4494217 0 28161737 4736555 5059604 2073221 0 1288440 238681 0 0 0 1139498 12500 404087 1073096 0 4562331 2005335 0 290079 70246976 0 80353155 4116571 PURCHASE POWER 556437585 FUEL EXPENSE 70123296 OPERATING EXPENSE 65148218 MAINTENANCE EXPENSE 53497447 23415445 1063177881 3423587 3857566 141388396 197390565 0 0 88783773 97537174 0 0 0 0 0 0 79101739 83075379 479772562 508967117 3144623058 982803684 2152209721 2161819374 0 0 0 0 0 0 0 0 110472247 113257247 3055152025 3165904422 241096677 172161501 0 0 80581259 31895908 0 0 0 0 0 0 1863635150 2029679321 0 0 0 0 2185313086 2233736730 X 95 95 0 0 869838844 932167597 869838939 932167692 3055152025 3165904422 X 95378 -1 62233376 X false true X true false 176146931 176146931 124193570 39860206 84333364 2837676049 937976024 1899700025 6606508 4967454 1639054 2161819374 1059230899 3028946 3028946 1056201953 7071306 7071306 1063273259 971902145 971902145 91275736 91275736 1063177881 FORM 990, SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. FORM 990, SCHEDULE D, PART XI, LINE 2D INCOME FROM EQUITY INVESTMENTS $3,028,946 FORM 990, SCHEDULE D, PART XI, LINE 4B EXPENSES NETTED WITH OTHER REVENUE IN AUDIT $6,975,929 ACES LLC K-1 INCOME $95,377 ---------------------------------------------------------- TOTAL $7,071,306 FORM 990, SCHEDULE D, PART XII, LINE 4B EXPENSES NETTED WITH OTHER REVENUE IN AUDIT $6,975,929 PATRONAGE ALLOCATED TO MEMBERS $84,299,807 ---------------------------------------------------------- TOTAL $91,275,736 X X false true false CLIFTON KARNEI EXECUTIVE VP & GENERAL MANAGER 833901 0 30433 0 199104 0 384100 0 32461 0 1479999 0 157837 0 KHAKI BORDOVSKY VP - SERVICES 315696 0 74079 0 27773 0 119162 0 25979 0 562689 0 0 0 RODNEY LITTLE MANAGER NETWORK SERVICES 184997 0 7594 0 10265 0 45015 0 29104 0 276975 0 8583 0 BRENT FOX MANAGER FISCAL SERVICES 165307 0 13110 0 13913 0 47751 0 29850 0 269931 0 9055 0 KYLE MINNIX MANAGER COMMUNICATIONS 145305 0 13243 0 33854 0 97879 0 29876 0 320157 0 9525 0 CARL CURRY PLANT MANAGER 162233 0 12208 0 12438 0 40674 0 29849 0 257402 0 6941 0 ROBERT WALKER PLANT MANAGER 165431 0 6715 0 9895 0 23899 0 24456 0 230396 0 7536 0 JOHNNY YORK VP - TRANSMISSION 280584 0 63965 0 54251 0 343946 0 27542 0 770288 0 0 0 JOSH CLEVENGER VP - POWER SUPPLY 303040 0 62772 0 2890 0 160053 0 35485 0 564240 0 0 0 TRAVIS THRALL VP - GENERATION 233238 0 43219 0 1176 0 23886 0 29400 0 330919 0 0 0 SHARI HEINO CHIEF COMPLIANCE OFFICER 200531 0 35993 0 644 0 23811 0 24787 0 285766 0 0 0 SCHEDULE J, PART I, LINE 4B CLIFTON KARNEI'S 457(F) SALARY VESTS ON THE FIRST OF THE FOLLOWING YEAR AND IS PAID IN JANUARY - $161,279. FORM 990, PART VI, SECTION A, LINE 6 BRAZOS ELECTRIC IS OWNED BY 16 MEMBER ELECTRIC DISTRIBUTION COOPERATIVES. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER ELECTS THEIR REPRESENTATIVE TO SERVE AS A DIRECTOR ON THE BRAZOS ELECTRIC POWER COOPERATIVE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY BKD. IT IS THEN REVIEWED BY THE MANAGER OF FISCAL SERVICES AND CONTROLLER; VICE PRESIDENT, SERVICES; AND THE EXECUTIVE VICE PRESIDENT AND GENERAL MANAGER BEFORE IT IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO ITS SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS THE DIRECTORS FILL OUT A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. ON A MONTHLY BASIS THE BOARD IS PROVIDED A SCHEDULE OF PAYMENTS MADE FOR SERVICES AND GOODS PROVIDED THE COOPERATIVE. IF A BUSINESS DECISION INVOLVES A CONFLICT WITH A MEMBER, THAT MEMBER IS REQUESTED TO SIT OUT OF THE MEETING WHILE A DISCUSSION AND VOTE IS HELD. FORM 990, PART VI, SECTION B, LINE 15A CEO PAY IS DETERMINED BY THE BRAZOS ELECTRIC BOARD ALONG WITH WAGE SURVEY INFORMATION THAT IS PROVIDED FOR CEO SALARIES. THE BOARD MEMBERS MEET TO DISCUSS IF AN INCREASE SHOULD BE GIVEN BASED ON PERFORMANCE AND TENURE IN THE POSITION. THE 16 MEMBER BOARD IS RESPONSIBLE FOR DECIDING ON THE PAY OF THE CEO. FORM 990, PART VI, SECTION B, LINE 15B VICE PRESIDENT'S PAY IS DETERMINED BASED ON TWO COMPONENTS. EACH VICE PRESIDENT'S JOB TITLE IS PLACED IN A SALARY GRADE BASED ON WAGE SURVEY STUDIES. INDIVIDUAL INCREASES ARE BASED ON PERFORMANCE, TENURE, AND POSITION WITHIN THE SALARY GRADE. THE CEO OF BRAZOS ELECTRIC IS RESPONSIBLE FOR EVALUATING INCREASES FOR VICE PRESIDENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VIII, LINE 6A POLE RENTAL INCOME WHICH IS EXCLUDED FROM UNRELATED BUSINESS INCOME $200,953 FORM 990, PART XI, LINE 9 2020 PATRONAGE ALLOCATED TO MEMBERS $84,299,807 INCOME FROM EQUITY INVESTMENTS $3,028,946 PATRONAGE CAPITAL RETIREMENTS ($25,000,000) ACES LLC K-1 INCOME ($95,377) -------------------------------------------------- TOTAL OTHER CHANGES IN NET ASSETS $62,233,376 BRAZOS SANDY CREEK ELECTRIC COOPERATIVE 7616 BAGBY AVE WACO TX 76712 870806881 GENERATE PWR TX 501(C)(12) BRAZOS ELECT true BRAZOS FUEL COMPANY INC PO BOX 2585 WACO TX 767022585 741787410 FUEL PRODUCTS TX BRAZOS ELECTRIC C CORPORATION 11092 1.00000 true false false false false false false false false false false false true true false false true false false false BRAZOS SANDY CREEK ELECTRIC COOPERATIVE M 78459586 FMV BRAZOS SANDY CREEK ELECTRIC COOPERATIVE L 60000 FMV