2019-11-08T11:16:13-06:00 2018-12-31 263195732 CONNOR MCMILLON MITCHELL & SHENNUM PLLC 801 S FILLMORE ST STE 600 AMARILLO TX 79101 990 2018-01-01 751941060 GOLDEN SPREAD ELECTRIC COOPERATIVE INC GOLD 8063797766 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 SCOTT GROSS CFO/ASST.TREASURER 8063797766 2019-10-21 true GARY D MITCHELL P00005725 8063736661 2019-10-21 66.76.17.210 2019-11-08 11:16:13 CS P BD7687B2B8A21DB65EB73E81170DFFE6B011420B D057FF770B142B5E9D25F290C488E2C33E49BDFC 2018 2020-01-14 16:20:31Z MARK SCHWIRTZ 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 344484776 false X WWW.GSEC.COOP X 1984 TX RURAL ELECTRIFICATION 32 32 99 0 24052 488323 495029 286568583 337975384 3666269 4501213 -186329 -174840 290536846 342796786 83632 125929 0 16974588 15677150 0 0 255907140 283859585 272965360 299662664 17571486 43134122 1099366909 1105215137 676308466 651722572 423058443 453492565 X 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. false false GOLDEN SPREAD ELECTRIC COOPERATIVE, INC. (GSEC) IS A CONSUMER-OWNED WHOLESALE ELECTRIC POWER SUPPLIER FOR RURAL ELECTRIC DISTRIBUTION COOPERATIVES. false true false false false false false false false true false false true true true false true false false false false false false false false false true false true false false false false false false false false false false true true true true false true 149 0 true 99 true true true false false false false 161608780 25379134 false false false X 32 32 false false true false true true true true true false false true true true true true true true true false AZ GA X SCOTT GROSS 8063797766 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 STAN MCCLENDON CHAIRMAN - B 8.00 0.80 X 48100 0 0 KELLY LANKFORD SEC/TREASURE 6.10 0.70 X 47100 0 0 CLINTON GARDNER DIRECTOR 12.10 0.80 X 46050 0 0 DAVID SELL DIRECTOR 7.90 0.80 X 44100 0 0 JAMES BATTON DIRECTOR 8.80 0.80 X 43000 0 0 DALE ANCELL DIRECTOR 6.40 0.70 X 42100 0 0 DAVID MARRICLE DIRECTOR 5.60 0.60 X 42050 0 0 SHAD MCDANIEL DIRECTOR 6.40 0.70 X 42000 0 0 DAVID TIPTON DIRECTOR 6.70 0.80 X 41100 0 0 BOBBY FUCHS DIRECTOR 8.00 0.80 X 41050 0 0 GREG HENLEY DIRECTOR 6.70 0.80 X 40100 0 0 BRENT WHEELER DIRECTOR 7.40 0.80 X 40050 0 0 MARK MCCLAIN DIRECTOR 7.60 0.80 X 36100 0 0 WILLIAM WHITTEN VICE CHAIRMA 4.90 0.50 X 35100 0 0 RYAN BARTLETT DIRECTOR 7.20 0.80 X 34000 0 0 ROGER BLACKWELDER DIRECTOR 7.30 0.80 X 34000 0 0 SHAWN MARTINEZ DIRECTOR 4.70 0.50 X 33050 0 0 ZAC PERKINS DIRECTOR 8.10 0.80 X 31050 0 0 STEVE WILLIAMS DIRECTOR 4.50 0.50 X 31050 0 0 JEFF COPELAND DIRECTOR 4.20 0.50 X 28000 0 0 ALBERT DANIEL DIRECTOR 4.00 0.50 X 27100 0 0 VICK CHRISTIAN DIRECTOR 4.50 0.50 X 27050 0 0 RANDY MAHANNAH DIRECTOR 4.60 0.50 X 26100 0 0 BOYD MCCAMISH DIRECTOR 4.00 0.50 X 25050 0 0 JIMIE REED DIRECTOR 3.80 0.50 X 25000 0 0 MICHAEL VEAZEY DIRECTOR 3.80 0.50 X 25000 0 0 TOMMY JOINES DIRECTOR 3.70 0.50 X 24000 0 0 KEVIN HUMPHREYS DIRECTOR 3.80 0.50 X 23000 0 0 CECIL DAVIS DIRECTOR 4.40 0.50 X 21000 0 0 MARK APPLING DIRECTOR 3.90 0.50 X 19000 0 0 DARRELL STEPHENS DIRECTOR 5.30 0.50 X 18050 0 0 EARL BROWN DIRECTOR 5.30 0.50 X 18000 0 0 BEN FRANKLIN DIRECTOR 5.90 0.70 X 15000 0 0 GAYLORD GROCE DIRECTOR 4.20 0.50 X 14000 0 0 KEITH HICKS DIRECTOR 3.80 0.50 X 10000 0 0 MARK SCHWIRTZ PRESIDENT & 49.50 0.50 X 757580 0 202688 JOSEPH HAYDEN COO 38.00 2.00 X 428099 0 146241 SCOTT GROSS CFO/ASST.TRE 40.00 0.50 X 402619 0 168324 WILLIAM HARRELSON CHIEF LEGAL/ 45.50 0.50 X 361349 0 127584 MARGARET RUPERT CHIEF STRATE 50.00 0.00 X 321799 0 128818 DARLA BLACKMORE VP, HUMAN RE 44.00 0.00 X 262435 0 83124 MATHEW MOORE DIR. MKT OPE 46.00 0.00 X 260556 0 94028 MICHAEL WISE SR.VP/REGULA 52.00 0.00 X 330877 0 69845 JOHN EICHELMANN VP, MEMBER S 45.00 0.00 X 303727 0 103827 STEPHEN CROSS DIR. POWER S 38.00 2.00 X 298271 0 50271 BRADLEY SWADLING DIR.CORP.TEC 45.00 0.00 X 260029 0 69326 KARI HOLLANDSWORTH DIR.FINANCE/ 47.00 0.00 X 226253 0 96186 MARY HEKMAN FORMER LEGAL 8.19 1.90 X 187730 40205 0 5497824 40205 1340262 53 true true false NRG ENERGY SERVICES LLC 211 CARNEGIE CENTER PRINCETON NJ 08540 O&M CONTRACTOR 9940629 GE INTERNATIONAL INC PO BOX 848301 DALLAS TX 75284 ORIGINAL EQUIP 8741456 ACES 4140 W99TH STREET CAMEL IN 46032 SERVICE FEES 2325256 NRG MAINTENANCE SERVICES LLC 12307 KURLAND DR HOUSTON TX 77034 O&M CONTRACTOR 975470 WARTSILA NORTH AMERICA INC 11710 N GESSNER SUIT A HOUSTON TX 77064 O&M CONTRACTOR 868074 53 495029 495029 WHOLESALE POWER 221000 335761799 335761799 PATRON SOURCE EARNINGS SUBSID 221000 1161511 1161511 PATRONAGE INCOME 221000 1052074 1052074 337975384 4501213 4501213 1513150 1687990 -174840 -174840 -174840 342796786 337975384 4326373 125929 4841744 5443392 2689497 1906396 796121 154061 58471 865351 765180 895734 405269 131324 28155323 41002976 3899589 FUEL EXPENSE 82109504 TRANSMISSION EXPENSE 70406233 PLANT OPS & MAINTENANCE 23881068 OTHER OPERATING EXPENSE 13853520 17275982 299662664 0 0 0 6561032 4591988 82844881 129856608 32579395 28952161 62738915 59400454 25601119 29528661 1068092686 288367311 811734040 779725375 77307527 73159890 1099366909 1105215137 19703840 22188343 617213849 586157089 39390777 43377140 676308466 651722572 X 11216286 10879579 411842157 442612986 423058443 453492565 1099366909 1105215137 X 43134122 -12700000 X false true X true false 2826033 2826033 1032403743 268944928 763458815 32862910 19422383 13440527 779725375 INVESTMENTS IN ASSOCIATED COMPANIES 31167798 NONUTILITY PROPERTY 22927469 OTHER MATERIALS & SUPPLIES 12055034 DUE FROM AFFILIATES 2703355 REGULATORY ASSETS 1677382 PLANT HELD FOR FUTURE USE 1249124 INVESTIGATION & SURVEY COSTS 533827 MISC ACCRUED ASSETS 413358 MISC DEFERRED EXPENSES 323350 ACCRUED INTEREST RECEIVABLE 109193 73159890 ACCRUED REFUNDS 17160613 OTHER ACCRUED LIABILITIES 8253084 TAX PAYABLE 8119991 ACCRUED INTEREST EXPENSE 7042918 OTHER DEFERRED CREDITS 1508422 DUE TO AFFILIATES 1201227 ACCRUED PROPERTY TAX 90885 43377140 X SCHEDULE D, PAGE 3, PART X 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. false OPPORTUNITY PLAN INC PO BOX 1035 CANYON TX 79015 756020405 501C3 6000 SCHOLARSHIPS WEST TEXAS A&M UNIVERSITY FOUNDATIO WTAMU BOX 60766 CANYON TX 79016 756036665 501C3 13500 SCHOLARSHIPS MASSACHUSETTS INSTITUTE TECHNOLOGY 77 MASSACHUSETTS AVE ROOM E19-411 CAMBRIDGE MA 02139 042103594 501C3 35000 SCHOLARSHIPS 3 X X X true true X X X X false true false MARK SCHWIRTZ PRESIDENT & CEO 629448 92794 35338 172000 30688 960268 JOSEPH HAYDEN COO 345698 56295 26106 113293 32948 574340 SCOTT GROSS CFO/ASST.TREASURER 336019 52585 14015 138006 30318 570943 WILLIAM HARRELSON CHIEF LEGAL/ASST.SEC 310924 47112 3313 107172 20412 488933 MARGARET RUPERT CHIEF STRATEGY/INFO 276971 44828 95262 33556 450617 DARLA BLACKMORE VP, HUMAN RESOURCES 219096 42708 631 53373 29751 345559 MATHEW MOORE DIR. MKT OPERATIONS 224815 26647 9094 64831 29197 354584 MICHAEL WISE SR.VP/REGULATORY/MKT 274570 44410 11897 38578 31267 400722 JOHN EICHELMANN VP, MEMBER SERVICES 253957 39618 10152 99908 3919 407554 STEPHEN CROSS DIR. POWER SUPPLY 240658 37479 20134 20187 30084 348542 BRADLEY SWADLING DIR.CORP.TECHNOLOGY 233619 25762 648 44153 25173 329355 KARI HOLLANDSWORTH DIR.FINANCE/FORECAST 203081 23159 13 65253 30933 322439 MARY HEKMAN FORMER LEGAL COUNSEL 187730 40205 187730 40205 SCHEDULE J, PART III 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. 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 GSEC PROPERTIES LLC 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 COM.RENTAL TX -215310 15282101 GSEC MID-TEX GENERATION & TRANSMISSION E 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 752157834 RURAL ELEC TX 501C12 GSEC true GOLDEN SPREAD PANHANDLE WIND RANCH 905 S FILLMORE ST SUITE 300 AMARILLO TX 79101 263144595 WIND ENERG TX GSEC C CORP 14983121 90596436 1.00000 true true false false true false false false false false false false false false true true false false false false GOLDEN SPREAD PANHANDLE WIND RANCH A 2636864 COST GOLDEN SPREAD PANHANDLE WIND RANCH D 59400454 BALANCE AT 12/31/18 GOLDEN SPREAD PANHANDLE WIND RANCH N 60000 COST GOLDEN SPREAD PANHANDLE WIND RANCH O 291700 COST