2020-10-12T11:47:13-05:00 2019-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2019-01-01 546007441 Highland Telephone Cooperative Inc HIGH 5404682131 PO Box 340 Monterey VA 24465 Chad Kimble General Manager 5404682131 2020-09-28 1 Patrick Cooper P00856177 3348347660 2020-09-28 142.154.130.164 2020-09-28 15:38:37 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2019 2021-04-22 16:20:28Z Chad Kimble PO Box 340 Monterey VA 24465 3066270 0 X www.htcnet.org X 1905 VA To provide telecommunication services to its members located in the cooperative's service area. 6 6 12 0 13637 0 0 0 2893394 3038485 147830 12630 16506 15155 3057730 3066270 0 0 1099906 968563 251393 332212 0 0 0 1555711 1728882 2907010 3029657 150720 36613 6541344 7224333 327094 298835 6214250 6925498 HTC is a progressive communications company committed to providing its members maximum value through state-of-the-art voice and data services in a global environment by utilizing our highly skilled staff. Excellent customer service is our goal in all subscriber interactions. 0 0 Highland Telephone Cooperative provided a variety of Telecommunication services to approximately 1,090 members located in Highland County, Virginia. 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 8 0 1 12 1 1 1 0 0 0 0 983352 36911 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 0 0 1 1 0 X Denise Waybright 5404682131 392 Potomac River Road Monterey VA 24465 Richard Simmons Director/President 2.00 X 1750 0 0 Sarah Shifflett Director 2.00 X 1350 0 0 Douglas Beverage Director 2.00 X 1100 0 0 Garland Dever Director/Vice President 2.00 X 1100 0 0 Debbi Stephenson Director 2.00 X 1400 0 0 Harold Chapman Director 2.00 X 1400 0 0 Ruth M Newman Secretary/Co-General Manag 40.00 X 96694 0 17324 Gideon Hiner Co-General Manager 40.00 X 23194 0 6650 Mark A Swecker Treasurer/Bookkeeper 40.00 X 43122 0 17832 Chad Kimble Assistant G.M. 40.00 X 76472 0 25294 Denise Waybright Treasurer 31.00 X 16733 0 799 264315 0 67899 0 0 0 0 Electricom LLC PO Box 932356 Atlanta GA 31193 Installer of fiber optic network 447941 Nichols Construction LLC PO Box 319 Paoli IN 47454 Fiber install for FTTH project 315082 Vantage Point 2211 N Minnesota Street Mitchell SD 57301 Fiber optic plant engineering 222301 3 Telephone Service Reve 517000 2436200 2436200 Nonregulated Revenue 517000 578230 578230 Patronage Allocations 517000 24055 24055 3038485 10007 10007 227 0 227 227 227 2623 0 2623 2623 2623 Directory Revenue 511140 14928 13637 1291 14928 3066270 3038485 13637 14148 X 968563 332212 72 374159 Plant Specific Operatio 637755 Nonregulated Operations 293921 Corporate Operations 158219 Customer Operations 122298 142458 3029657 452953 556066 1036409 916888 248196 246389 48364 62453 9849 10167350 4868909 4542323 5298441 141032 62822 9130 9130 62937 62295 6541344 7224333 43538 15857 283556 282978 327094 298835 X 10680 10620 0 0 6203570 6914878 6214250 6925498 6541344 7224333 X 36613 674635 X X 0 1 X 1 0 23666 23666 851085 360705 490380 9292599 4508204 4784395 5298441 Refundable Line Fees 19310 Customer Deposits 3665 Patronage Dividends Payable 260003 282978 X 3066270 0 3066270 0 3066270 2061094 0 2061094 968563 968563 3029657 Part X, Line 2: Income taxes - The Cooperative is exempt from income taxes under Section 501(c)(12) of the Internal Revenue Code. However, in any given year, if the Cooperative receives less than 85.0% of its total revenues from member services for purposes of the member income test under Section 501(c)(12), the Cooperative loses its tax-exempt status for that year. 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 to comply with the provisions of this guidance. The Cooprative's federal and state income tax returns for years 2016 to present remain subject to examination. Part XII, Line 4b - Other Adjustments: Net operating margins assigned to members 968,563. Form 990, Part VI, Section A, line 6 Highland Telephone Cooperative is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws. Form 990, Part VI, Section A, line 7a The members of Highland Telephone Cooperative democratically elect six members to the board of directors who govern the cooperative on their behalf. These directors serve a term of three years and an election is held each year during the annual meeting. The terms are staggered so that no more than two directors are elected each 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 Management reviewed the completed copy of the Form 990 before it was filed with the Internal Revenue Service. Also, members of the board of directors were provided a copy of the completed form 990 at a board meeting prior to filing the form with the Internal Revenue Service. Form 990, Part VI, Section B, line 15 Utilizing salary data from the NTCA as well as the cooperative's financial data, the board of directors determines and approves compensation as well as raises for all employees. Form 990, Part VI, Section C, line 19 These documents are available upon request at the Cooperative's headquarters located in Monterey, Virginia. 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. Highland Telephone Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Highland Telephone Cooperative assigns the net operating margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net operating margins assignable to the members for the calendar year ended December 31, 2019. Form 990, Part XI, line 9: Retirement of Patronage Capital -293,868. Decrease in Memberships -60. Patronage Allocations to Members - Operating Income 968,563. Form 990, Part XII, Line 2c The filing organization did not change its processes of oversight or selection for the year ended 12/31/2019.