2020-11-12T14:43:00-06:00 2020-06-30 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2019-07-01 630264087 Arab Electric Cooperative Inc ARAB 2565863196 PO Box 770 Arab AL 35016 Stacey White Interim General Manager 2565863196 2020-11-11 1 Patrick Cooper P00856177 3348347660 2020-11-04 142.154.130.164 2020-11-11 14:29:43 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2019 2022-01-07 14:23:13Z Stacey White PO Box 770 Arab AL 35016 35739277 0 X N/A X 1947 AL The Cooperative's most significant activities include the sale of electricity and electric services to members. 9 9 40 0 0 0 0 0 35775858 34441097 200046 135783 638635 1162397 36614539 35739277 0 0 918677 988608 274804 152766 0 0 0 35421058 34597903 36614539 35739277 0 0 45128702 48085427 9333548 9165147 35795154 38920280 None 0 0 Arab Electric Cooperative, Inc. now serves 12,998 residential accounts, 186 small commercial accounts, 2,401 large commercial accounts as well as 153 lighting accounts, with the total number of accounts being 15,738. Arab Electric Cooperative, Inc. has 1,237 miles of distribution line that delivers power purchased from Tennessee Valley Authority to its members. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 25 0 1 40 1 0 0 0 0 0 0 0 34441097 135782 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 0 0 1 1 0 X Arab Electric Cooperative 2565863196 331S Brindlee Mt Pkwy Arab AL 35016 Bill Strickland Trustee 1.00 X 6000 0 0 Christopher Hemphill Trustee 1.00 X 2500 0 0 Charles S Whisenant Trustee 1.00 X 4000 0 0 Charlie Griffin Trustee 1.00 X 6000 0 0 Dianne Prestridge Trustee 1.00 X 6000 0 0 Janet Bright Trustee 1.00 X 6000 0 0 Nathan Clark Trustee 1.00 X 2500 0 0 Tyler Barnes Trustee 1.00 X 2500 0 0 Mark Holmes Trustee 1.00 X 4000 0 0 Roger Head Trustee 1.00 X 4000 0 0 Ty Smith Trustee 1.00 X 6000 0 0 Charles W Whisenant Trustee 1.00 X 6000 0 0 Stacey White General Manager 40.00 X 66458 0 30808 121958 0 30808 1 0 0 0 Corbit Power & Lights 203 Pecan Street Albertville AL 35950 Electrical contractors & right of way cl 1590239 Asplundh Tree Expert PO Box 532829 Suite H Atlanta GA 303532729 Right of Way Clearing 487478 Osmose Utilities PO Box 117284 Atlanta GA 30368 Pole inspection & repair 185072 Central Service Association PO Box 3480 Tupelo MS 38803 IT and Software Support 161771 Transformer Maintenance & Service Inc PO Box 189 Newton Grove NC 28366 Transformer/Equipment Repair 149982 8 Sales of Electricity 900099 34441097 34441097 34441097 135783 135783 662024 0 662024 662024 662024 Extraordinary Revenue 900099 500373 500373 500373 35739277 34441097 0 1298180 988608 152766 7857 1884142 Cost of Power 25363622 Administrative & Genera 2767395 Distribution-Maintenanc 1980067 Taxes 1587735 1007085 35739277 1878717 10110196 2810061 2245654 1227183 1238500 723523 815002 9768922 3512661 51998010 24668795 27385095 27329215 940195 945599 395006 1888600 45128702 48085427 5198991 4556021 4134557 4609126 9333548 9165147 X 0 0 0 0 35795154 38920280 35795154 38920280 45128702 48085427 X 0 1921184 1203942 X X 0 1 X 1 0 411448 411448 51586562 24668795 26917767 27329215 TVA Advances 1249044 Customer Deposits 2928092 Paycheck Protection Program Loan - COVID 19 431990 4609126 X 35739277 0 35739277 0 35739277 34750669 0 34750669 988608 988608 35739277 Part X, Line 2: The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements. Part XII, Line 4b - Other Adjustments: Margins allocated to members 988,608. Form 990, Part VI, Section A, line 6 Arab Electric Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the organization's bylaws. Form 990, Part VI, Section A, line 7a Arab Electric Cooperative's governing body consists of nine directors that are elected by the membership of the cooperative. Each directors serves a three year term and represents a certain district within the territory served by the cooperative. The terms are staggered in order for the cooperative to only have three directors up for election in any one year. 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 Form 990 is distributed to the Board for review before it is signed by the General Manager. Form 990, Part VI, Section B, line 15 Salaries for both the organization's officers, as well as the top management official, are determined by the Executive Committee of the Board. These salaries are also determined by examining compensation of others in the industry and by the use of performance measures. Form 990, Part VI, Section C, line 19 These documents are available upon request at the Cooperative's office in Arab, Alabama. Form 990, Part XI, line 9: Change in Memberships 660. Benefits allocated to members 988,608. Utility Tax Refund 214,674. Form 990, Part IX, Line 4 The instructions to the Form 990 indicate that organizations exempt under Section 501(c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. Arab Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Arab Electric Cooperative assigns the net margins to its members each year. The amount listed in Part IX, Line 4 represents the net margins assigned to the members for the fiscal year ended June 30, 2020.