GOLDEN SPREAD ELECTRIC COOPERATIVE INC: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- GOLDEN SPREAD ELECTRIC COOPERATIVE INC (EIN 75-1941060)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-11-08
- IRS object ID
- 201903129349301855
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-11-08T11:16:13-06:00 | ReturnTs |
| Tax Period End | 2018-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 263195732 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CONNOR MCMILLON MITCHELL & SHENNUM PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 801 S FILLMORE ST STE 600 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 751941060 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GOLDEN SPREAD ELECTRIC COOPERATIVE | BusinessNameLine1Txt |
| Business Name Line2 | INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GOLD | BusinessNameControlTxt |
| Phone | 8063797766 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT GROSS | PersonNm |
| Person Title | CFO/ASST.TREASURER | PersonTitleTxt |
| Phone | 8063797766 | PhoneNum |
| Signature | 2019-10-21 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GARY D MITCHELL | PreparerPersonNm |
| PTIN | P00005725 | PTIN |
| Phone | 8063736661 | PhoneNum |
| Preparation | 2019-10-21 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 66.76.17.210 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2019-11-08 | IPDt |
| IP Tm | 11:16:13 | IPTm |
| IP Timezone | CS | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | BD7687B2B8A21DB65EB73E81170DFFE6B011420B | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | D057FF770B142B5E9D25F290C488E2C33E49BDFC | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-01-14 16:20:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARK SCHWIRTZ | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $344,484,776 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.GSEC.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1984 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | RURAL ELECTRIFICATION | ActivityOrMissionDesc |
| Voting Members Governing Body | 32 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 32 | VotingMembersIndependentCnt |
| Total Employee | 99 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $24,052 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $488,323 | PYContributionsGrantsAmt |
| CY Contributions Grants | $495,029 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $286,568,583 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $337,975,384 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,666,269 | PYInvestmentIncomeAmt |
| CY Investment Income | $4,501,213 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$186,329 | PYOtherRevenueAmt |
| CY Other Revenue | -$174,840 | CYOtherRevenueAmt |
| PY Total Revenue | $290,536,846 | PYTotalRevenueAmt |
| CY Total Revenue | $342,796,786 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $83,632 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $125,929 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $16,974,588 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $15,677,150 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $255,907,140 | PYOtherExpensesAmt |
| CY Other Expenses | $283,859,585 | CYOtherExpensesAmt |
| PY Total Expenses | $272,965,360 | PYTotalExpensesAmt |
| CY Total Expenses | $299,662,664 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $17,571,486 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $43,134,122 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,099,366,909 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,105,215,137 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $676,308,466 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $651,722,572 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $423,058,443 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $453,492,565 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE GOLDEN SPREAD ELECTRIC COOPERATIVE (GSEC) MISSION IS TO DELIVER COST EFFECTIVE, COMPETITIVE AND RELIABLE POWER TO PROVIDE A SECURE ENERGY FUTURE FOR GENERATIONS TO COME BY CREATING OPPORTUNITIES, CULTIVATING COOPERATION AND NAVIGATING INDUSTRY RISK. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | GOLDEN SPREAD ELECTRIC COOPERATIVE, INC. (GSEC) IS A CONSUMER-OWNED WHOLESALE ELECTRIC POWER SUPPLIER FOR RURAL ELECTRIC DISTRIBUTION COOPERATIVES. | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 149 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 99 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Members And Shr Gross Income | $161,608,780 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $25,379,134 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 32 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 32 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | AZ | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | GA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SCOTT GROSS | PersonNm |
| Phone | 8063797766 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (48 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| STAN MCCLENDON | ||||||||||
| CHAIRMAN - B | 8.00 | 0.80 | Yes (X) | $48,100 | $0 | $0 | ||||
| KELLY LANKFORD | ||||||||||
| SEC/TREASURE | 6.10 | 0.70 | Yes (X) | $47,100 | $0 | $0 | ||||
| CLINTON GARDNER | ||||||||||
| DIRECTOR | 12.10 | 0.80 | Yes (X) | $46,050 | $0 | $0 | ||||
| DAVID SELL | ||||||||||
| DIRECTOR | 7.90 | 0.80 | Yes (X) | $44,100 | $0 | $0 | ||||
| JAMES BATTON | ||||||||||
| DIRECTOR | 8.80 | 0.80 | Yes (X) | $43,000 | $0 | $0 | ||||
| DALE ANCELL | ||||||||||
| DIRECTOR | 6.40 | 0.70 | Yes (X) | $42,100 | $0 | $0 | ||||
| DAVID MARRICLE | ||||||||||
| DIRECTOR | 5.60 | 0.60 | Yes (X) | $42,050 | $0 | $0 | ||||
| SHAD MCDANIEL | ||||||||||
| DIRECTOR | 6.40 | 0.70 | Yes (X) | $42,000 | $0 | $0 | ||||
| DAVID TIPTON | ||||||||||
| DIRECTOR | 6.70 | 0.80 | Yes (X) | $41,100 | $0 | $0 | ||||
| BOBBY FUCHS | ||||||||||
| DIRECTOR | 8.00 | 0.80 | Yes (X) | $41,050 | $0 | $0 | ||||
| GREG HENLEY | ||||||||||
| DIRECTOR | 6.70 | 0.80 | Yes (X) | $40,100 | $0 | $0 | ||||
| BRENT WHEELER | ||||||||||
| DIRECTOR | 7.40 | 0.80 | Yes (X) | $40,050 | $0 | $0 | ||||
| MARK MCCLAIN | ||||||||||
| DIRECTOR | 7.60 | 0.80 | Yes (X) | $36,100 | $0 | $0 | ||||
| WILLIAM WHITTEN | ||||||||||
| VICE CHAIRMA | 4.90 | 0.50 | Yes (X) | $35,100 | $0 | $0 | ||||
| RYAN BARTLETT | ||||||||||
| DIRECTOR | 7.20 | 0.80 | Yes (X) | $34,000 | $0 | $0 | ||||
| ROGER BLACKWELDER | ||||||||||
| DIRECTOR | 7.30 | 0.80 | Yes (X) | $34,000 | $0 | $0 | ||||
| SHAWN MARTINEZ | ||||||||||
| DIRECTOR | 4.70 | 0.50 | Yes (X) | $33,050 | $0 | $0 | ||||
| ZAC PERKINS | ||||||||||
| DIRECTOR | 8.10 | 0.80 | Yes (X) | $31,050 | $0 | $0 | ||||
| STEVE WILLIAMS | ||||||||||
| DIRECTOR | 4.50 | 0.50 | Yes (X) | $31,050 | $0 | $0 | ||||
| JEFF COPELAND | ||||||||||
| DIRECTOR | 4.20 | 0.50 | Yes (X) | $28,000 | $0 | $0 | ||||
| ALBERT DANIEL | ||||||||||
| DIRECTOR | 4.00 | 0.50 | Yes (X) | $27,100 | $0 | $0 | ||||
| VICK CHRISTIAN | ||||||||||
| DIRECTOR | 4.50 | 0.50 | Yes (X) | $27,050 | $0 | $0 | ||||
| RANDY MAHANNAH | ||||||||||
| DIRECTOR | 4.60 | 0.50 | Yes (X) | $26,100 | $0 | $0 | ||||
| BOYD MCCAMISH | ||||||||||
| DIRECTOR | 4.00 | 0.50 | Yes (X) | $25,050 | $0 | $0 | ||||
| JIMIE REED | ||||||||||
| DIRECTOR | 3.80 | 0.50 | Yes (X) | $25,000 | $0 | $0 | ||||
| MICHAEL VEAZEY | ||||||||||
| DIRECTOR | 3.80 | 0.50 | Yes (X) | $25,000 | $0 | $0 | ||||
| TOMMY JOINES | ||||||||||
| DIRECTOR | 3.70 | 0.50 | Yes (X) | $24,000 | $0 | $0 | ||||
| KEVIN HUMPHREYS | ||||||||||
| DIRECTOR | 3.80 | 0.50 | Yes (X) | $23,000 | $0 | $0 | ||||
| CECIL DAVIS | ||||||||||
| DIRECTOR | 4.40 | 0.50 | Yes (X) | $21,000 | $0 | $0 | ||||
| MARK APPLING | ||||||||||
| DIRECTOR | 3.90 | 0.50 | Yes (X) | $19,000 | $0 | $0 | ||||
| DARRELL STEPHENS | ||||||||||
| DIRECTOR | 5.30 | 0.50 | Yes (X) | $18,050 | $0 | $0 | ||||
| EARL BROWN | ||||||||||
| DIRECTOR | 5.30 | 0.50 | Yes (X) | $18,000 | $0 | $0 | ||||
| BEN FRANKLIN | ||||||||||
| DIRECTOR | 5.90 | 0.70 | Yes (X) | $15,000 | $0 | $0 | ||||
| GAYLORD GROCE | ||||||||||
| DIRECTOR | 4.20 | 0.50 | Yes (X) | $14,000 | $0 | $0 | ||||
| KEITH HICKS | ||||||||||
| DIRECTOR | 3.80 | 0.50 | Yes (X) | $10,000 | $0 | $0 | ||||
| MARK SCHWIRTZ | ||||||||||
| PRESIDENT & | 49.50 | 0.50 | $757,580 | $0 | $202,688 | Yes (X) | ||||
| JOSEPH HAYDEN | ||||||||||
| COO | 38.00 | 2.00 | $428,099 | $0 | $146,241 | Yes (X) | ||||
| SCOTT GROSS | ||||||||||
| CFO/ASST.TRE | 40.00 | 0.50 | $402,619 | $0 | $168,324 | Yes (X) | ||||
| WILLIAM HARRELSON | ||||||||||
| CHIEF LEGAL/ | 45.50 | 0.50 | $361,349 | $0 | $127,584 | Yes (X) | ||||
| MARGARET RUPERT | ||||||||||
| CHIEF STRATE | 50.00 | 0.00 | $321,799 | $0 | $128,818 | Yes (X) | ||||
| DARLA BLACKMORE | ||||||||||
| VP, HUMAN RE | 44.00 | 0.00 | $262,435 | $0 | $83,124 | Yes (X) | ||||
| MATHEW MOORE | ||||||||||
| DIR. MKT OPE | 46.00 | 0.00 | $260,556 | $0 | $94,028 | Yes (X) | ||||
| MICHAEL WISE | ||||||||||
| SR.VP/REGULA | 52.00 | 0.00 | $330,877 | $0 | $69,845 | Yes (X) | ||||
| JOHN EICHELMANN | ||||||||||
| VP, MEMBER S | 45.00 | 0.00 | $303,727 | $0 | $103,827 | Yes (X) | ||||
| STEPHEN CROSS | ||||||||||
| DIR. POWER S | 38.00 | 2.00 | $298,271 | $0 | $50,271 | Yes (X) | ||||
| BRADLEY SWADLING | ||||||||||
| DIR.CORP.TEC | 45.00 | 0.00 | $260,029 | $0 | $69,326 | Yes (X) | ||||
| KARI HOLLANDSWORTH | ||||||||||
| DIR.FINANCE/ | 47.00 | 0.00 | $226,253 | $0 | $96,186 | Yes (X) | ||||
| MARY HEKMAN | ||||||||||
| FORMER LEGAL | 8.19 | 1.90 | $187,730 | $40,205 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $5,497,824 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $40,205 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,340,262 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 53 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| NRG ENERGY SERVICES LLC | |||||
| 211 CARNEGIE CENTER | PRINCETON | NJ | 08540 | O&M CONTRACTOR | $9,940,629 |
| GE INTERNATIONAL INC | |||||
| PO BOX 848301 | DALLAS | TX | 75284 | ORIGINAL EQUIP | $8,741,456 |
| ACES | |||||
| 4140 W99TH STREET | CAMEL | IN | 46032 | SERVICE FEES | $2,325,256 |
| NRG MAINTENANCE SERVICES LLC | |||||
| 12307 KURLAND DR | HOUSTON | TX | 77034 | O&M CONTRACTOR | $975,470 |
| WARTSILA NORTH AMERICA INC | |||||
| 11710 N GESSNER SUIT A | HOUSTON | TX | 77064 | O&M CONTRACTOR | $868,074 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 53 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $495,029 | GovernmentGrantsAmt |
| Total Contributions | $495,029 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| WHOLESALE POWER | 221000 | $335,761,799 | $335,761,799 |
| PATRON SOURCE EARNINGS SUBSID | 221000 | $1,161,511 | $1,161,511 |
| PATRONAGE INCOME | 221000 | $1,052,074 | $1,052,074 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $337,975,384 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,501,213 | TotalRevenueColumnAmt |
| Exclusion | $4,501,213 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,513,150 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,687,990 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -$174,840 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$174,840 | TotalRevenueColumnAmt |
| Exclusion | -$174,840 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $342,796,786 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $337,975,384 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $4,326,373 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,929 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,841,744 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,443,392 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,689,497 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,906,396 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $796,121 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $154,061 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,471 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $865,351 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $765,180 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $895,734 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $405,269 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $131,324 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,155,323 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,002,976 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,899,589 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| FUEL EXPENSE | $82,109,504 |
| TRANSMISSION EXPENSE | $70,406,233 |
| PLANT OPS & MAINTENANCE | $23,881,068 |
| OTHER OPERATING EXPENSE | $13,853,520 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,275,982 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $299,662,664 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,561,032 | BOYAmt |
| EOY | $4,591,988 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,844,881 | BOYAmt |
| EOY | $129,856,608 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,579,395 | BOYAmt |
| EOY | $28,952,161 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,738,915 | BOYAmt |
| EOY | $59,400,454 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,601,119 | BOYAmt |
| EOY | $29,528,661 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,068,092,686 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $288,367,311 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $811,734,040 | BOYAmt |
| EOY | $779,725,375 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $77,307,527 | BOYAmt |
| EOY | $73,159,890 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,099,366,909 | BOYAmt |
| EOY | $1,105,215,137 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,703,840 | BOYAmt |
| EOY | $22,188,343 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $617,213,849 | BOYAmt |
| EOY | $586,157,089 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,390,777 | BOYAmt |
| EOY | $43,377,140 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $676,308,466 | BOYAmt |
| EOY | $651,722,572 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,216,286 | BOYAmt |
| EOY | $10,879,579 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $411,842,157 | BOYAmt |
| EOY | $442,612,986 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $423,058,443 | BOYAmt |
| EOY | $453,492,565 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,099,366,909 | BOYAmt |
| EOY | $1,105,215,137 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $43,134,122 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$12,700,000 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,826,033 | OtherCostOrOtherBasisAmt |
| Book Value | $2,826,033 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,032,403,743 | OtherCostOrOtherBasisAmt |
| Depreciation | $268,944,928 | DepreciationAmt |
| Book Value | $763,458,815 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,862,910 | OtherCostOrOtherBasisAmt |
| Depreciation | $19,422,383 | DepreciationAmt |
| Book Value | $13,440,527 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $779,725,375 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (10 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| INVESTMENTS IN ASSOCIATED COMPANIES | $31,167,798 |
| NONUTILITY PROPERTY | $22,927,469 |
| OTHER MATERIALS & SUPPLIES | $12,055,034 |
| DUE FROM AFFILIATES | $2,703,355 |
| REGULATORY ASSETS | $1,677,382 |
| PLANT HELD FOR FUTURE USE | $1,249,124 |
| INVESTIGATION & SURVEY COSTS | $533,827 |
| MISC ACCRUED ASSETS | $413,358 |
| MISC DEFERRED EXPENSES | $323,350 |
| ACCRUED INTEREST RECEIVABLE | $109,193 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $73,159,890 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED REFUNDS | $17,160,613 |
| OTHER ACCRUED LIABILITIES | $8,253,084 |
| TAX PAYABLE | $8,119,991 |
| ACCRUED INTEREST EXPENSE | $7,042,918 |
| OTHER DEFERRED CREDITS | $1,508,422 |
| DUE TO AFFILIATES | $1,201,227 |
| ACCRUED PROPERTY TAX | $90,885 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $43,377,140 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 3, PART X | FormAndLineReferenceDesc |
| Explanation | GOLDEN SPREAD ELECTRIC COOPERATIVE, INC. (GSEC) HAS ADOPTED THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF GAAP. THE PRIMARY TAX POSITIONS OF GSEC ARE ITS FILING STATUS AS A TAX-EXEMPT ENTITY AND ITS NEED TO AVOID EXCEEDING A CERTAIN PERCENTAGE OF ITS INCOME FROM NONMEMBERS TO MAINTAIN ITS TAX-EXEMPT STATUS. GSEC HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017, GSEC PAID NO INCOME TAXES. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | false | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| OPPORTUNITY PLAN INC | |||||||
| PO BOX 1035 | CANYON | TX | 79015 | 756020405 | 501C3 | $6,000 | SCHOLARSHIPS |
| WEST TEXAS A&M UNIVERSITY FOUNDATIO | |||||||
| WTAMU BOX 60766 | CANYON | TX | 79016 | 756036665 | 501C3 | $13,500 | SCHOLARSHIPS |
| MASSACHUSETTS INSTITUTE TECHNOLOGY | |||||||
| 77 MASSACHUSETTS AVE ROOM E19-411 | CAMBRIDGE | MA | 02139 | 042103594 | 501C3 | $35,000 | SCHOLARSHIPS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (13 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|
| MARK SCHWIRTZ | ||||||||
| PRESIDENT & CEO | $629,448 | $92,794 | $35,338 | $172,000 | $30,688 | $960,268 | ||
| JOSEPH HAYDEN | ||||||||
| COO | $345,698 | $56,295 | $26,106 | $113,293 | $32,948 | $574,340 | ||
| SCOTT GROSS | ||||||||
| CFO/ASST.TREASURER | $336,019 | $52,585 | $14,015 | $138,006 | $30,318 | $570,943 | ||
| WILLIAM HARRELSON | ||||||||
| CHIEF LEGAL/ASST.SEC | $310,924 | $47,112 | $3,313 | $107,172 | $20,412 | $488,933 | ||
| MARGARET RUPERT | ||||||||
| CHIEF STRATEGY/INFO | $276,971 | $44,828 | $95,262 | $33,556 | $450,617 | |||
| DARLA BLACKMORE | ||||||||
| VP, HUMAN RESOURCES | $219,096 | $42,708 | $631 | $53,373 | $29,751 | $345,559 | ||
| MATHEW MOORE | ||||||||
| DIR. MKT OPERATIONS | $224,815 | $26,647 | $9,094 | $64,831 | $29,197 | $354,584 | ||
| MICHAEL WISE | ||||||||
| SR.VP/REGULATORY/MKT | $274,570 | $44,410 | $11,897 | $38,578 | $31,267 | $400,722 | ||
| JOHN EICHELMANN | ||||||||
| VP, MEMBER SERVICES | $253,957 | $39,618 | $10,152 | $99,908 | $3,919 | $407,554 | ||
| STEPHEN CROSS | ||||||||
| DIR. POWER SUPPLY | $240,658 | $37,479 | $20,134 | $20,187 | $30,084 | $348,542 | ||
| BRADLEY SWADLING | ||||||||
| DIR.CORP.TECHNOLOGY | $233,619 | $25,762 | $648 | $44,153 | $25,173 | $329,355 | ||
| KARI HOLLANDSWORTH | ||||||||
| DIR.FINANCE/FORECAST | $203,081 | $23,159 | $13 | $65,253 | $30,933 | $322,439 | ||
| MARY HEKMAN | ||||||||
| FORMER LEGAL COUNSEL | $187,730 | $187,730 | $40,205 | $40,205 | ||||
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE J, PART III | FormAndLineReferenceDesc |
| Explanation | PART I, LINE 1A: AIR TRAVEL IS IS OCCASIONALLY CHARTERED IN ORDER FOR DIRECTORS TO ATTEND BOARD MEETINGS. SUCH CHARTERED FLIGHTS ARE BOOKED WHEN MONETARILY SIMILAR AND/OR ADVANTAGEOUS COMPARED TO COMMERCIAL FLIGHTS OR MILEAGE DUE TO THE SIGNIFICANT TRAVEL REQUIREMENTS OF VARIOUS MEMBER COOPERATIVES IN REMOTE PARTS OF TEXAS. MULTIPLE DIRECTORS PARTICIPATE IN A SINGLE CHARTERED FLIGHT. ANNUAL DUES PAID FOR OFFICERS TO A 501(C)(7) RESTAURANT CLUB LOCATED IN DOWNTOWN AMARILLO (THE AMARILLO CLUB). MEMBERSHIP PROVIDES A CONVENIENT BUSINESS ENVIRONMENT TO CONDUCT MEETINGS. TOTAL 2018 DUES PAID FOR FOUR OFFICERS WERE 3,970 (APPROXIMATELY 83 PER MONTH PER OFFICER). TAX GROSS-UP PAYMENTS ARE INCLUDED IN OFFICERS COMPENSATION. GROSS-UP PAYMENTS ARE FOR MEMBERSHIP DUES TO THE AMARILLO CLUB. OCCASIONAL GIFT CARDS GIVEN TO OFFICERS ARE ALSO GROSS-UP PAYMENTS INCLUDED IN OFFICERS COMPENSATION. GROSS-UP PAYMENTS TOTAL LESS THAN 1000 OF REPORTABLE COMPENSATION PER OFFICER. PART I, LINE 4B: GOLDEN SPREAD ELECTRIC COOPERATIVE PROVIDES A PENSION RESTORATION PLAN (PR PLAN) TO RESTORE THE PENSION PLAN BENEFITS THAT HIGHLY COMPENSATED EMPLOYEES WOULD OTHERWISE LOSE AS A RESULT OF INTERNAL REVENUE CODE LIMITATIONS RELATED TO PENSION PLANS. BY RESTORING SUCH BENEFITS, THE PR PLAN PERMITS THE TOTAL BENEFITS OF SUCH EMPLOYEES TO BE PROVIDED ON THE SAME BASIS AS IS APPLICABLE TO ALL OTHER EMPLOYEES UNDER THE PENSION PLAN. THESE PR PLAN BENEFITS ARE PAID TO PARTICIPANTS IN THE PR PLAN UPON REACHING THEIR INITIAL VESTING DATE. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | THE GOLDEN SPREAD ELECTRIC COOPERATIVE (GSEC) MISSION IS TO DELIVER COST EFFECTIVE, COMPETITIVE AND RELIABLE POWER TO PROVIDE A SECURE ENERGY FUTURE FOR GENERATIONS TO COME BY CREATING OPPORTUNITIES, CULTIVATING COOPERATION AND NAVIGATING INDUSTRY RISK. |
| FORM 990, PART VI | FORM 990, PART VI, SECTION B, LINES 12-15: POLICY QUESTIONS AS APPLICABLE TO THE ORGANIZATION'S DISREGARDED ENTITY. GSEC PROPERTIES LLC IS A DISREGARDED ENTITY OWNED BY THE ORGANIZATION AND REPORTED ON SCHEDULE R, PART I. THE POLICY QUESTIONS ANSWERED "YES" ON FORM 990, PART VI, LINES 12 THROUGH 15 ALSO APPLY TO THE DISREGARDED ENTITY. |
| FORM 990, PAGE 6, PART VI, LINE 4 | IN 2018, GOLDEN SPREAD ELECTRIC COOPERATIVE, INC. HAD THREE AMENDMENTS TO ITS AMENDED AND RESTATED BYLAWS THAT ARE MATERIAL CHANGES. THE FIRST AMENDMENT GRANTED THE ASSISTANT SECRETARY AND THE ASSISTANT TREASURER OF THE BOARD OF DIRECTORS THE POWERS AND RESPONSIBILITIES OF THE SECRETARY AND TREASURER OF THE BOARD OF DIRECTORS IN HIS OR HER ABSENCE. THE SECOND AMENDMENT ADDED RISK MANAGEMENT TO THE DUTIES OF THE CHIEF FINANCIAL OFFICER. IT ALSO REMOVED RISK MANAGEMENT DUTIES AND ADDED STRATEGY RESPONSIBILITIES TO THE DUTIES OF THE CHIEF INFORMATION, STRATEGY AND COMPLIANCE OFFICER. THE THIRD AMENDMENT CLARIFIED THAT THE CHIEF FINANCIAL OFFICER IS ALSO THE CHIEF RISK OFFICER. |
| FORM 990, PAGE 6, PART VI, LINE 6 | ONE CLASS OF MEMBERS EXISTS WITH EACH MEMBER COOPERATIVE HAVING EQUAL REPRESENTATION ON THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 7A | EACH MEMBER COOPERATIVE HAS TWO BOARD POSITIONS REPRESENTING THE VOTING GOVERNING BODY (16 MEMBER COOPERATIVES EQUATES TO 32 VOTING POSITIONS ON THE BOARD). THE MANAGER OF EACH MEMBER COOPERATIVE IS ELECTED BY THE RESPECTIVE MEMBER COOPERATIVE AND FILLS ONE OF THE TWO POSITIONS. THE SECOND POSITION IS ELECTED FROM EACH EXISTING MEMBER COOPERATIVE'S BOARD BY THAT MEMBER COOPERATIVE. |
| FORM 990, PAGE 6, PART VI, LINE 7B | CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO THE APPROVAL OF THE MEMBER COOPERATIVES. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 FOR THIS COMPANY WAS PREPARED BY AN OUTSIDE CPA FIRM AND REVIEWED BY THE AUDIT COMMITTEE. |
| FORM 990, PAGE 6, PART VI, LINE 12C | OFFICERS AND DIRECTORS SUBMIT FEDERAL ENERGY REGULATORY COMMISSION (FERC) ANNUAL REPORT OF INTERLOCKING POSITIONS (FORM 561) FOR GOLDEN SPREAD ELECTRIC COOPERATIVE INC. |
| FORM 990, PAGE 6, PART VI, LINE 15A | OUTSIDE PROFESSIONAL COMPENSATION CONSULTANTS ARE RETAINED TO PREPARE SALARY RANGES FOR EACH POSITION. A COMPENSATION COMMITTEE CONSISTING OF FIVE BOARD MEMBERS EXISTS TO REVIEW AND APPROVE COMPENSATION ARRANGEMENTS. |
| FORM 990, PAGE 6, PART VI, LINE 15B | OUTSIDE PROFESSIONAL COMPENSATION CONSULTANTS ARE RETAINED TO PREPARE SALARY RANGES FOR EACH POSITION. A COMPENSATION COMMITTEE CONSISTING OF FIVE BOARD MEMBERS EXISTS TO REVIEW AND APPROVE COMPENSATION ARRANGEMENTS. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE. |
| FORM 990, PART XI, LINE 9 | PATRONAGE CAPITAL RETIREMENT -12,700,000 |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GSEC PROPERTIES LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | COM.RENTAL | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Total Income | -$215,310 | TotalIncomeAmt |
| End Of Year Assets | $15,282,101 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GSEC | BusinessNameLine1Txt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MID-TEX GENERATION & TRANSMISSION E | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 752157834 | EIN |
| Primary Activities | RURAL ELEC | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Exempt Code Section | 501C12 | ExemptCodeSectionTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GSEC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GOLDEN SPREAD PANHANDLE WIND RANCH | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 905 S FILLMORE ST SUITE 300 | AddressLine1Txt |
| City | AMARILLO | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263144595 | EIN |
| Primary Activities | WIND ENERG | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GSEC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C CORP | EntityTypeTxt |
| Share Of Total Income | $14,983,121 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $90,596,436 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (true) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (true) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (true) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| GOLDEN SPREAD PANHANDLE WIND RANCH | ||
| A | $2,636,864 | COST |
| GOLDEN SPREAD PANHANDLE WIND RANCH | ||
| D | $59,400,454 | BALANCE AT 12/31/18 |
| GOLDEN SPREAD PANHANDLE WIND RANCH | ||
| N | $60,000 | COST |
| GOLDEN SPREAD PANHANDLE WIND RANCH | ||
| O | $291,700 | COST |