2021-10-11T11:27:51-05:00 2020-12-31 590548468 PURVIS GRAY & COMPANY LLP 2347 SE 17TH STREET OCALA FL 34471 990 2020-01-01 590395398 PEACE RIVER ELECTRIC COOPERATIVE INC PEAC 8637734116 PO BOX 1310 WAUCHULA FL 33873 RANDALL W SHAW GENERAL MANAGER/CEO 8637734116 2021-09-17 true RANDALL W SHAW 999009999 MARK A WHITE CPA P00071001 3527323872 2021-09-20 2020 2022-09-23 18:48:47Z RANDALL W SHAW PO BOX 1310 WAUCHULA FL 33873 111111086 false X WWW.PRECO.ORG X 1940 FL PROVIDING A DEPENDABLE COOPERATIVE SERVICE TO OUR MEMBERS AND VALUE TO OUR COMMUNITY. 8 8 131 0 0 104679442 110878978 406225 232108 0 105085667 111111086 0 5124254 8566562 1675736 1835091 0 0 98285677 100709433 105085667 111111086 0 276625790 286627470 189366092 190403049 87259698 96224421 PROVIDING A DEPENDABLE COOPERATIVE SERVICE TO OUR MEMBERS AND VALUE TO OUR COMMUNITY. false false PROVIDING ELECTRIC ENERGY TO OUR MEMBERS. 51,665 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false true false true false false false false false true false false true 64 0 131 true false false false false false 117128840 2553661 false false false X 8 8 false false false false true true true true true false false true true true true true true true true false X TUCKER LEMLEY 8637734116 PO BOX 1310 WAUCHULA FL 33873 RANDALL W SHAW GENERAL MANA 50.00 X 345536 0 124469 LOUISE F BLACKMAN VP - MEMBER 45.00 X 214783 0 139664 A TUCKER LEMLEY VP FINANCE & 45.00 X 203656 0 55821 PAUL A ROBERTS VP OF ENGINE 55.00 X 196352 0 57753 VAN CRAWFORD VP OF OPERAT 45.00 X 167868 0 62648 CHARLOTTE HESTON VP OF CORPOR 41.00 X 147468 0 56268 LEONARD CRAWLEY DIRECTOR 2.00 X 15176 0 0 ELLEN BACHMAN PRESIDENT 8.00 X X 8400 0 0 MAURICE HENDERSON DIRECTOR 3.00 X 7979 0 0 JOHN MARTIN SECRETARY/TR 2.00 X X 7225 0 0 HOLLIS ALBRITTON JR DIRECTOR 5.00 X 5425 0 0 WILLIE DAWES DIRECTOR 3.00 X 4800 0 0 KENNETH ODEN ASST SECRETA 1.00 X X 4800 0 0 CHRIS PORTALE DIRECTOR 2.00 X 4500 0 0 BRUCE VICKERS VICE PRESIDE 3.00 X X 4500 0 0 1338468 496623 42 false true false GEORGIA RIGHT-OF-WAY 1135 RUMBLE ROAD FORSYTH GA 31029 TREE MAINTENANC 3985554 IRBY CONSTRUCTION COMPANY 318 OLD HIGHWAY 49 SOUTH RICHLAND MS 39218 UTILITY CONSTRU 1646451 PIKE ELECTRIC INC PO BOX 746308 ATLANTA GA 30374 UTILITY CONSTRU 826798 SILVEY ENTERPRISES PO BOX 890093 CHARLOTTE NC 28289 UTILITY CONSTRU 671519 EDKO LLC 4615 MARLENA ST BOSSIER CITY LA 71111 RT OF WAY MAINT 268857 10 SALE OF ELECTRICITY 221000 109875077 109875077 METER LEASES 221000 416488 416488 POLE RENTAL 221000 303023 303023 CAPITAL CREDITS - OTHER 221000 284390 284390 110878978 142799 142799 89309 89309 89309 89309 111111086 110380874 730212 8566562 532810 1302281 6056329 9947090 COST OF POWER 63187233 DISTRIBUTION EXPENSE - MA 9011284 DISTRIBUTION EXPENSE - OP 5212917 ADMINISTRATIVE & GENERAL 5148555 2146025 111111086 0 0 0 339095 2862230 10927147 11584164 4825429 5113330 117481 227047 321552901 80757156 235986803 240795745 24201555 25792104 228280 252850 276625790 286627470 9110323 8244076 171601910 171512232 8653859 10646741 189366092 190403049 X 196545 209971 2452110 2912287 84611043 93102163 87259698 96224421 276625790 286627470 X 0 8964723 X false true X true false 5101627 5101627 310691492 80757156 229934336 5759782 5759782 240795745 PATRONAGE CAPITAL - SECI 18450843 PATRONAGE CAPITAL - GRESCO 3391433 PATRONAGE CAPITAL - CFC 968441 ALL OTHERS 719863 CFC CAPITAL TERM CERTIFICATES 654534 PATRONAGE CAPITAL - FEDERATED 639092 PATRONAGE CAPITAL - COBANK 539164 PATRONAGE CAPITAL - SEDC 234900 CTC - CFC 193834 25792104 DEFERRED CREDITS 5516919 CONSUMER DEPOSITS 4066773 POSTRETIREMENT BENEFITS 1063049 10646741 X 112664078 1552992 1552992 111111086 111111086 102456499 -8654587 -8654587 111111086 111111086 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE IS CURRENTLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)12 OF THE INTERNAL REVENUE CODE. THE COOPERATIVE IS GENERALLY NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE 2017. UNDER ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, MANAGEMENT IS REQUIRED TO EVALUATE ITS TAX POSITIONS ON AN ONGOING BASIS AND REQUIRED TO DISCLOSE ANY SUCH POSITIONS THEY BELIEVE COULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS AND RELATED NOTES. MANAGEMENT BELIEVES NO SUCH DISCLOSURES ARE CURRENTLY REQUIRED. SCHEDULE D, PAGE 4, PART XI, LINE 2D EXPENSES NETTED AGAINST REVENUES FOR FS REPORTING -88,025 DIVIDEND ALLOCATED TO COOPERATIVE FROM ASSOC COOPERATIVES: 0 ON ACCRUAL BASIS 1,925,406 ON CASH BASIS -284,389 SCHEDULE D, PAGE 4, PART XII, LINE 2D MARGINS ASSIGNED -8,566,562 EXPENSES NETTED AGAINST REVENUES FOR FS REPORTING -88,025 X X X false false false RANDALL W SHAW GENERAL MANAGER/CEO 341870 3666 105119 19350 470005 LOUISE F BLACKMAN VP - MEMBER SERVICES 212808 1975 129883 9781 354447 A TUCKER LEMLEY VP FINANCE & ADMIN 203186 470 36871 18950 259477 PAUL A ROBERTS VP OF ENGINEERING 193898 2454 36870 20883 254105 VAN CRAWFORD VP OF OPERATIONS 162325 5543 55215 7433 230516 CHARLOTTE HESTON VP OF CORPORATE SERV 145517 1951 47397 8871 203736 SEMINOLE ELECTRIC COOPERATIVE SEE SCH L, PT V PURCHASED POWER false GEORGIA RIGHT OF WAY SEE SCH L, PT V RIGHT OF WAY SERVICE false SCHEDULE L, PART V HOLLIS ALBRITTON, JR, DIRECTOR, JOHN MARTIN, DIRECTOR, AND RANDALL SHAW, GENERAL MANAGER/CEO, ALL SERVE ON THE BOARD OF TRUSTEES FOR SEMINOLE ELECTRIC COOPERATIVE, INC. RANDALL SHAW,GENERAL MANAGER/CEO, SERVES ON THE BOARD OF DIRECTORS FOR GEORGIA RIGHT OF WAY FORM 990 FORM 990, PART IX, LINE 4 - BENEFITS PAID TO OR FOR MEMBERS THE IRS' INSTRUCTIONS FOR THE 2020 VERSION OF FORM 990, PART IX, LINE 4 STATE: "ENTER THE PAYMENTS MADE BY THE ORGANIZATION TO PROVIDE BENEFITS TO MEMBERS (...PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS)". STATEMENT OF FUNCTIONAL EXPENSES, LINE 4 IS ENTITLED "BENEFITS PAID TO OR FOR MEMBER." SIGNIFICANT INDUSTRY- WIDE DISCUSSIONS BEGAN REGARDING THE NEED FOR THE IRS' CLARIFICATION AND WHETHER "PATRONAGE DIVIDENDS PAID" MEANS CAPITAL CREDITS ALLOCATED, CAPITAL CREDITS RETIRED OR SOME OTHER AMOUNT. FOR THE PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT OF 2020 CAPITAL CREDITS ALLOCATED. THIS AMOUNT WAS APPROVED BY THE BOARD OF DIRECTORS DURING THE SPRING OF 2021. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION IS ORGANIZED AS NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND OPERATES AS AN ELECTRIC DISTRIBUTION COOPERATIVE. IT IS A MEMBERSHIP ORGANIZATION AND ALL MEMBERS HAVE IDENTICAL RIGHTS UNDER THE COOPERATIVE'S ORGANIZATIONAL DOCUMENTS AND THE STATUTES OF THE STATE OF FLORIDA. FORM 990, PAGE 6, PART VI, LINE 7A UNDER THE COOPERATIVE'S ORGANIZING DOCUMENTS AND THE LAWS OF THE STATE OF FLORIDA, THERE IS ONLY ONE CLASS OF MEMBERSHIP. ANY PERSON OR BUSINESS WITHIN THE GEOGRAPHIC SERVICE AREA OF THE COOPERATIVE IS ELIGIBLE TO BECOME A MEMBER UPON APPLICATION AND PAYMENT OF THE MEMBERSHIP FEE. THE MEMBERS VOTE IN ELECTIONS OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B CHANGES MADE TO THE BYLAWS OF THE ORGANIZATION MUST BE APPROVED BY THE MEMBERS OF THE ORGANIZATION. FORM 990, PAGE 6, PART VI, LINE 11B IRS FORM 990 IS REVIEWED BY THE GENERAL MANAGER/CEO OF THE COOPERATIVE. BEFORE THE FORM 990 IS FILED WITH THE IRS, A COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY INTERESTS THAT COULD LEAD TO A CONFLICT OF INTEREST EACH YEAR ON A QUESTIONNAIRE PROVIDED BY THE COOPERATIVE. MANAGEMENT REVIEWS THE RESPONSES TO EACH OF THE QUESTIONNAIRES. FORM 990, PAGE 6, PART VI, LINE 15A EACH YEAR THE BOARD OF DIRECTORS REVIEWS THE NRECA COMPENSATION STUDY WHICH REPRESENTS COMPENSATION FOR 900 ELECTRIC COOPERATIVES. THE BOARD USES THE DATA IN THE COMPENSATION STUDY AS WELL AS THE RECOMMENDATIONS OF AN INDEPENDENT CONSULTANT TO DETERMINE THE COMPENSATION OF THE GENERAL MANAGER/CEO. THE FINAL COMPENSATION IS THEN APPROVED BY THE BOARD OF DIRECTORS AND IS DOCUMENTED IN THE MINUTES OF THE MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 15B THE CEO USES THE NRECA COMPENSATION SURVEY OF 900 ELECTRIC COOPERATIVES AS WELL AS THE RECOMMENDATIONS OF AN INDEPENDENT CONSULTANT TO DETERMINE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE FINANCIAL STATEMENTS ARE INCLUDED IN THE ORGANIZATION'S ANNUAL REPORT WHICH IS SENT OUT TO THE MEMBERSHIP OF THE ORGANIZATION AND IS ALSO MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. CORPORATE BYLAWS ARE MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE. ANY OTHER GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 DIVIDEND ALLOCATED TO COOPERATIVE FROM ASSOC COOP 0 ON ACCRUAL BASIS 1,925,406 ON CASH BASIS -284,389 MARGINS ASSIGNED 8,566,562 INCREASE IN OTHER EQUITIES 460,177 INCREASE IN MEMBERSHIP 13,426 INCREASE IN ACCUM POST RETIREMENT BENEFITS 36,079 CAPITAL CREDITS RETIRED -1,752,538 TOTAL 8,964,723 PEACE RIVER COOPERATIVE CHARITABLE FOUNDATION INC PO BOX 1310 WAUCHULA FL 338731310 204064056 SEE PT VII FL 501C3 7 NA false false false false false false false false false false false false false false true true false true true false SCHEDULE R SCHEDULE R, PART II, COLUMN (B): THE FOUNDATION DISBURSES FUNDS TO INDIVIDUALS AND ORGANIZATIONS FOR NEEDS RELATED TO FOOD, SHELTER, CLOTHING, HEALTH NEEDS, ENVIRONMENTAL AND EDUCATION.