2021-11-01T13:33:37-05:00 2020-12-31 582475857 NICHOLS CAULEY & ASSOCIATES LLC 1300 BELLEVUE AVENUE DUBLIN GA 310214152 990 2020-01-01 590538145 GLADES ELECTRIC COOPERATIVE INC GLAD 8639466200 PO BOX 519 MOORE HAVEN FL 33471 JEFFERY R BREWINGTON CEO 8639466200 2021-10-27 1 JEFFERY BREWINGTON 999009999 CAL BRANTLEY CPA P00636393 4782751163 2021-10-27 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JEFFERY R BREWINGTON PO BOX 519 MOORE HAVEN FL 33471 46891511 0 X WWW.GLADESELECTRIC.COM X 1945 FL TO PROVIDE EXCEPTIONAL SERVICE. 9 9 80 0 0 0 0 0 46996091 46696701 219908 110477 148418 80903 47364417 46888081 0 0 3950832 4034133 784777 1030159 0 0 0 43247646 42168248 47983255 47232540 -618838 -344459 145849080 149633002 96136460 97406492 49712620 52226510 TO PROVIDE EXCEPTIONAL SERVICE 0 0 47232540 UTILIZING 2,600 MILES OF ELECTRIC DISTRIBUTION AND TRANSMISSION LINES,GLADES ELECTRIC COOPERATIVE, INC. PROVIDED ELECTRICITY TO APPROXIMATELY 17,025 RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL ACCOUNTS LOCATED IN SOUTH FLORIDA. 47232540 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 1 31 0 1 80 1 0 0 0 0 0 0 0 45690071 1071340 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JENNIFER MANNING 8639466214 26733 US HWY 27 MOORE HAVEN FL 33471 JOHN COXE TRUSTEE/PRESIDENT 7.50 X X 14350 0 0 JAMES AUL TRUSTEE/VICE PRESIDENT 7.80 X X 9000 0 0 SHANNON HALL TRUSTEE SECRETARY/DIRECTOR 8.90 X X 12850 0 0 LEE HENDERSON TRUSTEE 4.80 X 11700 0 0 DONNIE LUNDY TRUSTEE 6.90 X 10600 0 0 BARNEY GOODMAN TRUSTEE 7.30 X 11200 0 0 ANGELA HODGES TRUSTEE 6.90 X 9850 0 0 TYLER PUGH TRUSTEE 3.50 X 9250 0 0 MICHAEL PRESSLEY TRUSTEE 1.00 X 1333 0 0 JEFFERY R BREWINGTON CHIEF EXECUTIVE OFFICER 60.00 X 331992 0 182083 JENNIFER MANNING CHIEF FINANCIAL OFFICER 60.00 X 140235 0 69045 TRAVIS TURNER CHIEF OPERATIONS OFFICER 60.00 X 165549 0 51122 ROBERT KYLE ALTMAN LEAD LINEMAN 51.00 X 132842 0 39708 JAMES EDWIN GREEN LEAD LINEMAN 53.00 X 137458 0 39845 JAMES NIPPER LEAD LINEMAN 50.00 X 124717 0 30987 DAVID RICE JOURNEYMAN LINEMAN 52.00 X 129211 0 32689 1252137 0 445479 19 0 1 0 PIKE ELECTRIC LLC PO BOX 746308 ATLANTA GA 30374 POWERLINE CONSTRUCTION 2869716 THE DAVEY TREE EXPERT COMPANY PO BOX 709 KENT OH 44240 RIGHT OF WAY TRIMMING 1321882 ELECTRICOM LLC PO BOX 319 PAOLI IN 47454 BORING COMPANY 559224 TOMBERLINE POLE TREATMENT 1490 BOB WHITE DR MANNING SC 29102 POLE INSPECTIONS 302398 22 SALES OF ELECTRICITY 221000 45690071 45690071 PATRONAGE CAPITAL 221000 1006630 1006630 46696701 66840 66840 126670 0 126670 126670 126670 47067 3430 43637 43637 43637 OTHER NONOPERATING INC 221000 -45767 -45767 -45767 46888081 46650934 0 237147 X 4034133 1030159 3378623 3961601 COST OF POWER 21838712 DIST EXP - OPERATIONS 4386764 DISTRIBUTION EXPENSE - 3869245 ADMINISTRATIVE & GENERA 2338489 2394814 47232540 460907 1062900 6577955 4496041 564712 525809 220109 191366 362709 286198 148695055 19948891 124013777 128746164 0 329664 307973 13319247 14016551 145849080 149633002 2765248 3438479 90076744 90557852 3294468 3410161 96136460 97406492 X 0 0 0 0 49712620 52226510 49712620 52226510 145849080 149633002 X -344459 2858349 X 0 1 X 1 0 2130026 2130026 4545070 2814611 1730459 142019959 17134280 124885679 128746164 PATRONAGE CAPITAL - SEDC 136486 C PATRONAGE CAPITAL - SEMINOLE ELECTRIC COOPERATIVE 9478434 C CFC CAPITAL TERM CERTIFICATES 766822 C PATRONAGE CAPITAL - FEDERATED INSURANCE EXCHANGE 591698 C PATRONAGE CAPITAL - GRESCO 2134183 C PATRONAGE CAPITAL - CFC 709503 C PATRONAGE CAPITAL - COBANK 127426 C OTHER 21977 C PATRONAGE CAPITAL - NISC 40687 C PATRONAGE CAPITAL - NRTC 9335 C 14016551 COSTUMER DEPOSITS 2365822 DEFERRED CREDITS 1044339 3410161 X PART X, LINE 2: MANAGEMENT HAS EVALUATED THE COOPERATIVE'S TAX POSITIONS AND CONCLUDED THAT THE COOPERATIVE HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. 1 X X X X 0 1 0 JEFFERY R BREWINGTON CHIEF EXECUTIVE OFFICER 300583 0 1100 0 30309 0 154435 0 27648 0 514075 0 0 0 TRAVIS TURNER CHIEF OPERATIONS OFFICER 146770 0 350 0 18429 0 25630 0 25492 0 216671 0 0 0 JENNIFER MANNING CHIEF FINANCIAL OFFICER 134413 0 600 0 5222 0 49683 0 19362 0 209280 0 0 0 JAMES EDWIN GREEN LEAD LINEMAN 85343 0 600 0 51515 0 23768 0 16077 0 177303 0 0 0 ROBERT KYLE ALTMAN LEAD LINEMAN 85385 0 600 0 46857 0 15335 0 24373 0 172550 0 0 0 DAVID RICE JOURNEYMAN LINEMAN 79681 0 100 0 49430 0 9604 0 23085 0 161900 0 0 0 JAMES NIPPER LEAD LINEMAN 85280 0 350 0 39087 0 21838 0 9149 0 155704 0 0 0 SEMINOLE ELECTRIC COOPERATIVE INC BUSINESS RELATIONSHIP 21838712 SEMINOLE ELECTRIC COOPERATIVE, INC. (SECI) IS THE WHOLESALE POWER PROVIDER FROM WHICH GLADES ELECTRIC COOPERATIVE, INC. PURCHASES ITS POWER. GLADES ELECTRIC COOPERATIVE, INC. IS ALSO A COOPERATIVE MEMBER OF SECI. THE BOARD OF SECI IS COMPROMISED OF THE MANAGER AND ONE BOARD MEMBER FROM EACH OF THE MEMBER ELECTRIC DISTRIBUTION COOPERATIVES. CURRENTLY, JEFF BREWINGTON, CEO, AND JAMES AUL, TRUSTEE, SERVE AS REPRESENTATIVES FROM GLADES ELECTRIC COOPERATIVE, INC. TO THE SECI BOARD OF DIRECTORS. ALTHOUGH IT IS ROUTINE FOR BOARD MEMBERS OF ELECTRIC DISTRIBUTION COOPERATIVES TO SERVE AS REPRESENTATIVES ON THE BOARDS OF ELECTRIC TRANSMISSION COOPERATIVES, FOR PURPOSES OF THE FORM 990 AND ITS INSTRUCTIONS, JAMES AUL IS NOT CONSIDERED INDEPENDENT. 0 GRESCO UTILITY SUPPLY INC BUSINESS RELATIONSHIP 4920060 GRESCO UTILITY SUPPLY, INC. (GRESCO) SERVES THE ELECTRICAL SUPPLY NEEDS OF HUNDREDS OF UTILITY CUSTOMERS IN THE SOUTHEAST UNITED STATES, INCLUDING GLADES ELECTRIC COOPERATIVE, INC., BY PROVIDING PRODUCTS AND SERVICES NEEDED TO BUILD AND MAINTAIN POWER SYSTEMS. GLADES ELECTRIC COOPERATIVE, INC. IS ALSO A COOPERATIVE MEMBER OF GRESCO. CURRENTLY, JEFF BREWINGTON, CEO, SERVES ON THE GRESCO BOARD OF DIRECTORS. 0 FORM 990, PART VI, SECTION A, LINE 6 ALL PEOPLE OR ENTITIES WHO PURCHASE ENERGY FROM GLADES ELECTRIC COOPERATIVE, INC. ARE MEMBERS OF THE ORGANIZATION. MARGINS ARE ALLOCATED TO MEMBERS' ACCOUNTS BASED ON USAGE. EACH MEMBER HAS A SINGLE VOTE REGARDING ELECTION OF THE GOVERNING BODY OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF GLADES ELECTRIC COOPERATIVE, INC. MAY ELECT MEMBERS OF THE GOVERNING BODY AT THE ANNUAL MEETING. EACH YEAR, AN ANNUAL MEETING IS HELD AT WHICH THE MEMBERSHIP VOTES TO ELECT THREE TRUSTEES FOR A THREE YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE DECISIONS THAT INVOLVE SUBSTANTIAL TRANSFERS OF COOPERATIVE ASSETS, AMENDMENTS TO THE COOPERATIVE'S BYLAWS, AS WELL AS OTHER DECISIONS REQUIRING APPROVAL OF THE MEMBERSHIP BY LAW, THE ARTICLES OF INCORPORATION, AND/OR THE COOPERATIVE'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 WAS FIRST REVIEWED BY THE CHIEF FINANCIAL OFFICER. A COPY OF THE FORM 990 WAS THEN PRESENTED TO THE BOARD OF TRUSTEES AT A BOARD MEETING PRIOR TO FILING THE FORM WITH THE INTERNAL REVENUE SERVICE. ONCE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES, THE CEO SIGNED AND TRANSMITTED THE RETURN TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CERTAIN COOPERATIVE POLICIES ARE REVIEWED EACH MONTH. AT ANY BOARD MEETING IN WHICH A CONFLICT MAY ARISE DUE TO BUSINESS TRANSACTIONS, THE APPLICABLE TRUSTEES WILL RECUSE THEMSELVES FROM VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS DETERMINED ANNUALLY AT THE BOARD OF TRUSTEES DISCRETION UTILIZING AN EXECUTIVE COMPENSATION ANALYSIS PREPARED BY THE INDEPENDENT CONTRACTOR, INTANDEM LLC, WHICH INCORPORATES NRECA'S NATIONAL COMPENSATION SYSTEM AND THE ECONOMIC RESEARCH INSTITUTE'S SALARY ASSESSOR. FOR OTHER EMPLOYEES OF THE COOPERATIVE, THE CEO UTILIZES A MARKET MODEL COMPENSATION PLAN PREPARED BY INDEPENDENT CONTRACTOR, INTANDEM, LLC. TO MAKE AN OVERALL COMPENSATION ADJUSTMENT RECOMMENDATION TO THE BOARD OF TRUSTEES FOR THEIR APPROVAL WHICH IS ALLOCATED AMONG EMPLOYEES PER THE PLAN. UNION PERSONNEL RECEIVE A CONTRACTED AMOUNT WHICH WAS APPROVED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 GLADES ELECTRIC COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE MAIN OFFICE IN MOORE HAVEN, FLORIDA. FORM 990, PART IX, LINE 24E TRANSMISSION 850,068. CONSUMER ACCOUNTS 821,562. POWER PRODUCTION 637,273. TRANSMISSION MAINTENANCE 50,651. OTHER 35,260. FORM 990, PART XI, LINE 9: RETIREMENT OF CAPITAL CREDITS -1,244,168. GAIN ON RETIREMENT OF CAPITAL CREDITS 90,075. NET MARGINS OF SUBSIDIARY -21,691. ASSIGNMENT OF MARGINS TO MEMBERS 4,034,133. GLADES ELECTRIC EDUCATIONAL FOUNDATION INC PO BOX 519 MOORE HAVEN FL 33471 651083705 AWARD SCHOLARSHIPS FL 501 (C) (3) PRIVATE FOUNDATION N/A 1 GLADES ELECTRIC CHARITABLE TRUST INC PO BOX 519 MOORE HAVEN FL 33471 650850177 HELP NEEDY FL 501 (C) (3) COMMUNITY TRUST N/A 0 GLADES SERVICES INC 1190 US HIGHWAY 27 EAST MOORE HAVEN FL 33471 650902428 HOLDING COMPANY FL GLADES ELECTRIC COOPERATIVE INC C -210 309473 1.00000 1 GLADES UTILITY SERVICES INC 1190 US HIGHWAY 27 EAST MOORE HAVEN FL 33471 650902154 ELECTRIC UTILITY PLANT CONTRACTOR FL GLADES SERVICES INC C 1.00000 1 GLADES ECONOMIC INVESTORS INC 1190 US HIGHWAY 27 EAST MOORE HAVEN FL 33471 651067614 REAL ESTATE INVESTMENTS FL GLADES SERVICES INC C -21481 308216 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 GLADES ELECTRIC CHARITABLE TRUST INC R 56857 CASH GLADES ELECTRIC EDUCATION FOUNDATION INC R 440710 CASH