2019-11-13T13:11:28-06:00 2018-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2018-01-01 540130127 BARC ELECTRIC COOPERATIVE BARC 8008462272 PO BOX 264 MILLBORO VA 244600264 MICHAEL KEYSER CEO & GEN MGR 8008462272 2019-10-30 true G STEVEN GILLIAM CPA P00348264 8043231313 2019-10-31 72.84.234.34 2019-11-13 13:11:28 CS P ACA39D8962F2BB59B316BF06430B2B7C29AE552B 61A6FECD8215AA087FF7745E3D605B7EF8D8F4B6 2018 2020-03-31 21:24:44Z MICHAEL KEYSER PO BOX 264 MILLBORO VA 24460 25850506 false X WWW.BARCELECTRIC.COM X 1938 VA TO PROVIDE SAFE AND RELIABLE POWER TO THE MEMBERS OF BARC ELECTRIC COOPERATIVE LOCATED IN THE COUNTIES OF ALLEGHANY, AUGUSTA, BATH, HIGHLAND, AND ROCKBRIDGE IN THE COMMONWEALTH OF VIRGINIA. 7 7 83 483200 0 22242720 24582110 65731 215147 1173235 1018579 23481686 25815836 0 1785825 1166928 4443039 5560232 0 0 16759131 19177802 22987995 25904962 493691 -89126 69154844 79403132 38473675 48646372 30681169 30756760 TO PROVIDE SAFE AND RELIABLE POWER TO THE MEMBERS OF BARC ELECTRIC COOPERATIVE LOCATED IN THE COUNTIES OF ALLEGHANY, AUGUSTA, BATH, HIGHLAND, AND ROCKBRIDGE IN THE COMMONWEALTH OF VIRGINIA. false false THE THREE LARGEST PROGRAM SERVICES RELATED TO THE COOPERATIVE'S MISSION, AS MEASURED BY EXPENSES, WERE AS FOLLOWS: COST OF POWER 13,364,859 OTHER SALARIES AND WAGES 4,029,399 DEPRECIATION 2,557,330 false false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false true false false false false true false false false true 36 0 true 83 true true true false false false false 23827273 1136066 false false false X 7 7 false false false false true true true true true false false false true true true true true true true false X THE ORGANIZATION 8008462272 PO BOX 264 MILLBORO VA 24460 KEITH L SWISHER PRESIDENT 5.00 X X 15900 0 0 C MICHAEL SANDRIDGE VICE PRESIDE 4.00 X X 15900 0 0 JOHN M QUANTZ SECRETARY/TR 5.00 X X 15900 0 0 GARY R JOHNSON ASSISTANT SE 2.00 X X 15900 0 0 EDSEL B FORD DIRECTOR 3.00 X 15900 0 0 JASON P BLACK DIRECTOR 6.00 X 15900 0 0 JAY LEWIS II DIRECTOR 2.00 X 15900 0 0 MICHAEL KEYSER CEO & GEN MG 32.00 9.00 X 291447 0 48504 JAMIE LOWRY COO 40.00 0.00 X 128944 0 36386 GREGORY COOK CFO 32.00 9.00 X 113051 0 36759 STEPHEN CLARK LINE CREW FO 54.00 X 125773 0 13849 JONATHAN HINES LINE CREW FO 46.00 X 101156 0 23318 871671 158816 5 false true false POWER SECURE INC PO BOX 840149 DALLAS TX 752840149 FIBER CONST. 2178116 S & N COMMUNICATIONS PO BOX 603663 CHARLOTTE NC 282603663 FIBER CONST. 1721396 LEE ELECTRICAL CONSTRUCTION PO BOX 55 ABERDEEN NC 28315 POLE REPLACE. 1000269 WILLBROS T&D SERVICES LLC 10154 DIVISION DR RALEIGH NC 27603 FIBER CONST. 817514 N & S CONSTRUCTION INC 3723 THREE NOTCH RD LOUISA VA 23093 FIBER CONST. 606097 10 SALE AND DIST. OF ELECT. 221000 23709959 23709959 CONTRIB. IN AID OF CONST. 221000 821580 821580 PATRONAGE ALLOC. RECEIVED 221000 50571 50571 24582110 218617 48014 170603 473467 473467 473467 473467 23812 7388 34670 -10858 7388 -3470 7388 -10858 BARCONNECTS 221000 366481 366481 BAD DEBT RECOVERY 221000 117314 117314 INC RELIABLE ENERGY, LLC 221000 39831 39831 21486 21486 545112 25815836 24699424 483200 633212 1166928 766391 4029399 399415 365027 32321 300027 71432 1369234 2557330 COST OF POWER 13364859 OPERATING EXP BARCONNECT 1375581 DISTRIBUTION MAINTENANCE 896148 ADMIN AND GENERAL 861433 -1650563 25904962 0 0 0 266665 215136 4489746 3603622 1713020 2164740 2174831 1418503 1441514 90204823 30234031 50971260 59970792 135000 135000 9694450 9909737 14480 239480 69154844 79403132 2069215 2161343 33354857 42951300 3049603 3533729 38473675 48646372 X 30681169 30756760 30681169 30756760 69154844 79403132 X -89126 164717 X false true X true false 90204823 30234031 59970792 59970792 PATRONAGE CAPITAL 9275090 C CAPITAL TERM CERTIFICATES 570407 C MEMBER CAPITAL CERTIFICATES 50000 C BUILDING 13240 C MEMBERSHIP FEES 1000 C 9909737 OTHER 1635703 CONSUMER DEPOSITS 1116030 DEFERRED CREDITS 781996 3533729 X X false false false MICHAEL KEYSER CEO & GEN MGR 271322 20125 33562 14942 339951 JAMIE LOWRY COO 114682 14262 24724 11662 165330 JASON P BLACK - DIRECTOR CFO 229791 SALE OF FUEL/DIESEL false FORM 990 SCHEDULE J, PART II, COLUMN C THE OFFICERS OF THE COOPERATIVE PARTICIPATE IN A MULTI-EMPLOYER DEFINED BENEFIT PENSION PLAN. INCLUDED IN COLUMN C IS THE ACTUARIAL INCREASE ASSOCIATED WITH THE PLAN. IT SHOULD BE NOTED THAT THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN IS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN BARC ELECTRIC COOPERATIVE'S BYLAWS. THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4. FORM 990, PART IX, LINE 17 TRAVEL PER IRS INSTRUCTIONS THE TOTAL TRAVEL COSTS REPORTED ON THIS LINE REPRESENT ALL TRANSPORTATION COSTS OF THE COOPERATIVE, INCLUDING THE EXPENSE OF PURCHASING, LEASING, OPERATING, AND REPAIRING ALL VEHICLES OWNED BY THE COOPERATIVE. THIS INCLUDES ALL THE LINE AND SERVICE TRUCKS USED IN THE DAILY OPERATIONS OF THE COOPERATIVE. THESE TRUCKS LOG IN THOUSANDS OF MILES EACH YEAR CONSTRUCTING AND MAINTAINING THE ELECTRIC PLANT OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 6 BARC IS AN ELECTRIC COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS OF THE COOPERATIVE ELECT THE BOARD OF DIRECTORS WHICH SERVES AS THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS OF BARC RECEIVE ONE VOTE WITH RESPECT TO SELECTING THE COOPERATIVE'S BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT REVIEWS THE TAX FORM 990 WITH THE BOARD AFTER THE RETURN HAS BEEN FILED. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY, DIRECTORS REVIEW POTENTIAL CONFLICTS OF INTEREST. DIRECTORS ALWAYS REMOVE THEMSELVES FROM VOTING ON ISSUES THAT COULD PRESENT A CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE GOVERNING BODY SETS THE COMPENSATION OF THE CEO. TO ASSIST WITH THIS PROCESS A SALARY SURVEY WAS PERFORMED BY A NATIONAL CONSULTING GROUP ALONG WITH CONTEMPORANEOUS SALARY DATA BEING PROVIDED. OTHER OFFICERS' SALARIES ARE BASED ON THREE CONTEMPORANEOUS REFERENCE POINTS: USBLS, NRECA, AND THE VIRGINIA E.C. FOR NON-METRO WESTERN VIRGINIA. FORM 990, PAGE 6, PART VI, LINE 15B THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL DATA IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST FROM THE COOPERATIVE. FINANCIAL INFORMATION IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART XI, LINE 9 PATRONAGE DIV PAID TO MEMBERS NOT EXP PER GAAP 1,166,928 BOOK TAX DIFF BARCONNECT 12,038 NET CHANGE IN MEMBERSHIPS 110 NON-CASH PATRONAGE ALLOCATIONS NOT REV PER IRS 219,459 INSTALLMENT SALE OF SOLAR PLANT 210,372 DEFERRED TAX LIABILITY BARCONNECT 235,000 CIAC NOT REV PER GAAP -821,580 RETIREMENT OF CAPITAL CREDITS -847,610 DEFERRED TAX ASSET RELIABLE -10,000 TOTAL 164,717 RELIABLE ENERGY LLC PO BOX 264 MILLBORO VA 24460 462270348 GEN LEASES VA 224393 1829127 BARC ELEC BARCONNECTS LLC PO BOX 264 MILLBORO VA 24460 474493961 BLDG FIBER VA -725563 805387 BARC ELEC