2019-11-14T10:32:13-06:00 2018-12-31 721396621 CARR RIGGS & INGRAM LLC 1117 BOLL WEEVIL CIRCLE ENTERPRISE AL 36330 990 2018-01-01 590504115 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION INC WEST 8502633231 PO BOX 127 GRACEVILLE FL 32440 JAMES T PEEL EXECUTIVE VICE PRESIDENT AND CEO 8502633231 2019-11-07 1 HILTON GALLOWAY P00964983 3343470088 2019-11-06 198.73.26.130 2019-11-07 14:55:09 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 656EC0ADFC79B72E610A27679372F67A64A362E5 2018 2020-03-31 21:24:44Z JAMES T PEEL PO BOX 127 GRACEVILLE FL 32440 59162046 0 X WWW.WFECA.COM X 1937 FL WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 9 9 106 0 293319 0 0 0 57911151 57974684 153225 14074 1137933 1173288 59202309 59162046 0 0 0 0 2154395 1865707 0 0 0 54702200 54824344 56856595 56690051 2345714 2471995 124384442 197759344 58785127 129897330 65599315 67862014 X WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC. IS IN BUSINESS TO PROVIDE ITS MEMBERS WITH A RELIABLE SOURCE OF ELECTRICITY AND OTHER RELATED, SELF-SUSTAINING SERVICES AT THE LOWEST POSSIBLE COST CONSISTENT WITH ITS EXTERNAL FINANCIAL OBLIGATIONS AND SOUND MANAGEMENT PRACTICES. 0 0 52987368 PROVIDING ELECTRICITY TO MEMBERS 52987368 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 256 0 1 106 1 1 1 0 0 0 0 0 0 0 0 57974684 916913 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JAMES T PEEL 8502633231 PO BOX 127 GRACEVILLE FL 32440 AC MILES DIRECTOR 2.00 X 0 0 0 JOHN W ADAMS SECRETARY-TREASURER 2.00 X 21650 0 0 GEORGE OWENS DIRECTOR 2.00 X 19200 0 0 JOHN C PATRICK SR DIRECTOR 2.00 X 10750 0 0 JOE RONE PRESIDENT 2.00 X 18500 0 0 MYRON HUDSON DIRECTOR 2.00 X 19950 0 0 TIM ALFORD DIRECTOR 2.00 X 20600 0 0 RANDY BUSH VICE PRESIDENT 2.00 X 14650 0 0 DAVID TATUM DIRECTOR 2.00 X 13400 0 0 JAMES T PEEL EXECUTIVE VP & CEO 40.00 X 168563 0 36013 RUSSELL DUNAWAY CEO 40.00 X 174618 17800 62929 KEITH VARNUM MANAGER - ENGINEERING 40.00 X 121992 0 19168 MARIE ASHWORTH CFO 40.00 X 128292 0 38482 DONNIE WORLEY MANAGER, LOSS CONTROL AND RISK MANAGEMENT 40.00 X 104190 0 16254 836355 17800 172846 5 0 1 0 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GRAVE PA 19090 RIGHT OF WAY SERVICES 4133233 PIKE ELECTRIC LLC P O BOX 868 MOUNT ALRY NC 27030 CONSTRUCTION 3216575 BRYANT TREE SERVICES INC 11669 CR 49 LIVE OAK FL 32060 RIGHT OF WAY SERVICES 706520 LEE ELECTRICAL CONST INC 12828 HIGHWAY 15-501 SOUTH ABERDEEN NC 28315 CONSTRUCTION 703643 SOUTHEASTERN DATA COOP INC 100 ASHFORD CTR N STE 500 ATLANTA GA 30338 TECHNOLOGY SERVICES 677707 15 ELECTRIC SALES 221000 57974684 57974684 57974684 14074 14074 G&T AND OTHER CAPITAL CREDITS 221000 879969 879969 NON UTILITY OPERATIONS 900099 293319 293319 1173288 59162046 58868727 293319 0 1252379 613328 141660 744462 92224 26893 1925336 4347801 COST OF POWER 37012854 DISTRIBUTION EXPENSE - 3371796 DISTRIBUTION EXPENSE - 2690842 CONSUMER ACCOUNT EXPENS 1707160 2763316 56690051 2044737 4274159 4313696 53662557 1925736 10467098 52965 86350 144338681 43211070 88223385 101127611 23697026 24334402 4126897 3807167 124384442 197759344 5534827 62514942 500000 500000 50293156 64574162 2457144 2308226 58785127 129897330 X 142385 141410 0 0 65456930 67720604 65599315 67862014 124384442 197759344 X 2471995 -209296 X 0 1 X 1 0 107212 107212 4779121 4779121 132175556 43211070 88964486 7276792 7276792 101127611 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 24334402 C 24334402 CONSUMER DEPOSITS 1414871 DEFERRED CREDITS 210765 DEFERRED COMPENSATION 682590 2308226 X 59162046 0 59162046 0 59162046 56960499 270448 270448 56690051 0 56690051 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE ON ANY INCOME RELATED TO ITS EXEMPT PURPOSE. THE COOPERATIVE INCURS UNRELATED BUSINESS TAXABLE INCOME (UBTI) UNDER THE CODE ON CERTAIN REVENUE STREAMS. THERE ARE NO PROVISIONS FOR INCOME TAXES FOR 2018 OR 2017. THE COOPERATIVE HAS A NET OPERATING LOSS CARRYFORWARD OF $452,785 TO OFFSET FUTURE TAXABLE INCOME AS OF DECEMBER 31, 2018. THE COOPERATIVE UTILIZES THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING THE PROVISION OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. SUCH TAX POSITIONS INITIALLY AND SUBSEQUENTLY NEED TO BE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY ASSUMING FULL KNOWLEDGE OF THE POSITION AND RELEVANT FACTS. THE COOPERATIVE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE INCOME TAX POSITIONS TAKEN AND TO BE TAKEN ON ITS TAX RETURNS AND THAT ITS ACCRUALS FOR TAX LIABILITIES, IF ANY, ARE ADEQUATE FOR ALL OPEN TAX YEARS (AFTER 2011 FOR FEDERAL AND STATE) BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER. THE COOPERATIVE EVALUATED ITS INCOME TAX POSITIONS ON AN ANNUAL BASIS. MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2018 AND 2017 THAT MEET THE CRITERIA FOR RECOGNITION IN THE FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS IN INCOME TAX EXPENSE IF INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR TAX PERIODS BEFORE 2015. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON UTILITY OPERATIONS EXPENSES REPORTED ON FORM 990, PART XI, LINE 9 270,448. 0 0 0 JAMES T PEEL EXECUTIVE VP & CEO 168563 0 0 0 0 0 22837 0 13176 0 204576 0 0 0 RUSSELL DUNAWAY CEO 174618 17800 0 0 0 0 50170 0 12759 0 237547 17800 0 0 MARIE ASHWORTH CFO 128292 0 0 0 0 0 25306 0 13176 0 166774 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 WEST FLORIDA ELECTRIC COOPERATIVE ASSOCIATION, INC., IS A MEMBER-OWNED, NON-PROFIT ELECTRIC COOPERATIVE INCORPORATED IN 1937 UNDER THE PROVISIONS OF THE RURAL ELECTRIFICATION ADMINISTRATION ACT TO PROVIDE ELECTRICITY AND OTHER SERVICES TO ITS MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE BYLAWS OF THE COOPERATIVE PROVIDE FOR NINE MEMBERS TO MAKE UP ITS BOARD OF TRUSTEES REPRESENTING A CROSS-SECTION OF ITS MEMBERSHIP. EACH OF THE NINE DISTRICTS ARE REPRESENTED BY A MEMBER-ELECTED TRUSTEE. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED FOR ACCURACY BY THE CHIEF EXECUTIVE OFFICER, THEN PRESENTED TO THE BOARD OF TRUSTEES FOR APPROVAL BEFORE BEING EXECUTED AND FILED EACH YEAR. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS ARE REQUIRED TO CERTIFY THEY DO NO HAVE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 CEO SALARY IS SET BY THE BOARD OF TRUSTEES BASED ON COMPENSATION SURVEYS FOR ELECTRIC CO-OPS OF SIMILAR SIZE. CEO SETS SALARY FOR KEY EMPLOYEES BASED ON COMPENSATION SURVEY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE DISTRIBUTED AT THE ANNUAL MEMBERSHIP MEETING FORM 990, PART XI, LINE 9: OTHER INCREASES 61,152. NON UTILITY OPERATIONS EXPENSES -270,448.