2025-11-17T23:28:29-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 710056715 FIRST ELECTRIC COOPERATIVE CORPORATION FIRS 5019824545 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 720765264 MELISSA FELTY CFO 5019824545 2025-11-14 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-14 X 2024 2025-03-06 01:10:19Z MARK SNOWDEN 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 720765264 270818527 0 X WWW.FIRSTELECTRIC.COOP X 1937 AR TO PROVIDE QUALITY, RELIABLE AND AFFORDABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 9 9 312 0 25742865 5038362 0 0 211777684 239683782 4950476 3378011 16839562 27213487 233567722 270275280 29360 21370 12373975 13759026 27118944 30032603 0 0 0 197531298 229703736 237053577 273516735 -3485855 -3241455 748223131 842440929 433963150 522142357 314259981 320298572 FIRST ELECTRIC, IMPROVING QUALITY OF LIFE. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 104,296 ACTIVE SERVICES AT YEAR END. 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 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 158 0 312 1 1 1 0 0 0 0 227134413 35016249 0 0 0 X 9 9 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X MELISSA FELTY CFO 5019854531 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 720765264 X BROCK BREWER DIRECTOR 7.20 1.00 X 42544 0 0 TRACY HUDSPETH CHAIRMAN 7.30 1.00 X X 40144 0 0 DAVID LUEBKE DIRECTOR 6.00 1.00 X 42544 0 0 RICK LOVE DIRECTOR 9.70 1.00 X 42544 0 0 ROBERT MAERTENS DIRECTOR 5.90 1.00 X 19261 0 0 KARISSA RUSHING SECRETARY/TREASURER 8.10 1.00 X X 36544 0 0 LARRY WOOD DIRECTOR 6.40 1.00 X 42245 0 0 TODD PROTHRO VICE CHAIRMAN 9.50 1.00 X X 37744 0 0 JOHN ROLAND DIRECTOR 5.90 1.00 X 38944 0 0 MARK SNOWDEN CEO 45.00 1.00 X 534001 0 86894 ASHLEY GARRINGER COO 45.00 X 258473 0 65450 MELISSA FELTY CFO 45.00 1.00 X 268789 0 61331 RANDY EVERETT CBO 45.00 1.00 X 257201 0 166698 JERRY DRISKILL VP - OPERATIONS 45.00 X 243645 0 108364 DANIEL RIEDEL VP - ENGINEERING 45.00 X 253654 0 118258 TONYA SEXTON VP - MARKETING 45.00 X 233875 0 51438 THEODORE DEWEESE SERVICEMAN 64.00 X 198795 0 73025 DAVID JONES FIELD ENGINEER SUPERVISOR 40.00 X 168868 0 54089 JOHN HAWKINS CREW CHIEF 53.00 X 162486 0 44989 LLOYD SCIFRES FIELD SERVICES COORDINATOR 53.00 X 161568 0 66677 NICHOLAS PFLASTERER SERVICEMAN 57.00 X 159934 0 30283 3243803 0 927496 110 0 1 0 KLASSMEYER CONSTRUCTION INC PO BOX 847 CONWAY AR 72033 FIBER CONSTRUCTION LABOR 41274282 STUART C IRBY CO INC PO BOX 843959 DALLAS TX 75284 FTTH MATERIALS AND SUPPORT 27604162 UTILITY LINES CONSTRUCTION INC PO BOX 827464 PHILADELPHIA PA 19182 POWERLINE CONSTRUCTION 9459704 ITG COMMUNICATIONS LLC 152 MOLLY WALTON DR HENDERSONVILLE TN 37075 FIBER CONSTRUCTION LABOR 8434350 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL RD WILLOW GROVE PA 19090 ROW CLEARING 2649991 23 X SALES OF ELECTRICITY 221000 225383772 225383772 PATRONAGE DIVIDENDS 221000 12505146 12505146 SERVICE FEES 221000 1720756 1720756 OTHER PROGRAM REVENUE 221000 74048 74048 SURGE PROTECTOR REVENUE 221000 60 60 239683782 3356730 3356730 1133 1133 711 0 711 711 711 499450 478169 21281 21281 21281 90773 65078 25695 25695 INTERNET SERVICES 221000 26222487 26222487 POLE ATTACHMENT INCOME 221000 1443794 1443794 BROADBAND P'SHIP LOSS 517000 -480333 -480333 27185948 270275280 239730758 25742865 4801657 X 21370 13759026 3050585 18149567 3679339 3549446 1603666 21491338 25166876 PURCHASED POWER 133216103 DISTRIBUTION EXPENSE 24448728 CONSUMER EXPENSE 16885029 ADMIN & GENERAL EXPENSE 9587110 -1091448 273516735 10956421 14610515 699584 1265019 17715627 24386372 1417137 2052954 13114045 15830851 926418038 244327965 607681930 682090073 85035928 92088923 139764 139764 11462695 9976458 748223131 842440929 27330928 30683271 371058499 455936835 35573723 35522251 433963150 522142357 X 819745 832175 0 0 313440236 319466397 314259981 320298572 748223131 842440929 X -3241455 9280046 X X 0 1 X 1 1 1 4235760 4235760 22253029 9762461 12490568 742179900 234565504 507614396 157749349 157749349 682090073 PATRONAGE CAPITAL - CFC 9410863 C PATRONAGE CAPITAL - AECC 61760469 C PATRONAGE CAPITAL - AECI 7681436 C PATRONAGE CAPITAL - NISC 514442 C PATRONAGE CAPITAL - NRTC 608699 C PATRONAGE CAPITAL - CRC 38566 C CAPITAL TERM CERTIFICATES - CFC 9261043 C ACCUMULATED DIVIDENDS - ARESIT 74190 C MEMBERSHIPS 3200 C ENERGY EFFICIENCY LOANS 789 C EXECUTIVE COMPENSATION OFFSET 1055252 C IRRIGATION LINE EXTENSION 443313 C DIAMOND STATE NETWORKS LLC 982771 C OTHER INVESTMENTS 85498 C PATRONAGE CAPITAL - FEDERATED 168392 C 92088923 CONSUMER DEPOSITS AND PREPAYMENTS 6410031 ACCUMULATED PROVISION FOR PENSIONS AND OTHER POST-RETIREMENT BENEFITS 19310900 DEFERRED CREDITS 2091239 ACCRUED PROPERTY TAXES 4831418 ACCRUED OPERATING TAXES - OTHER 694890 OTHER LIABILITIES 2183773 35522251 X 270305130 0 270305130 -29850 -29850 270275280 259787559 0 259787559 13729176 13729176 273516735 PART X, LINE 2: THE COOPERATIVE FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: GENERAL EXPENSES RECLASSIFIED TO NON-OPERATING MARGINS -29,850. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 13,759,026. GENERAL EXPENSES RECLASSIFIED TO NON-OPERATING MARGINS -29,850. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". 0 FIRST ELECTRIC TRUST 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 72076 311586917 501(C)(3) 0 20397 TO PAY FOR DIRECT OPERATING EXPENSES FOR THE TRUST. 1 1 SCHEDULE I, PART II: GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE PRIMARILY MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X X 0 0 0 MARK SNOWDEN CEO 462015 0 0 0 71986 0 57808 0 29086 0 620895 0 0 0 RANDY EVERETT CBO 238335 0 947 0 17919 0 145406 0 21292 0 423899 0 0 0 DANIEL RIEDEL VP - ENGINEERING 236452 0 947 0 16255 0 109490 0 8768 0 371912 0 0 0 JERRY DRISKILL VP - OPERATIONS 222827 0 1097 0 19721 0 79663 0 28701 0 352009 0 0 0 MELISSA FELTY CFO 246523 0 773 0 21493 0 51927 0 9404 0 330120 0 0 0 ASHLEY GARRINGER COO 247499 0 877 0 10097 0 48538 0 16912 0 323923 0 0 0 TONYA SEXTON VP - MARKETING 219361 0 773 0 13741 0 41425 0 10013 0 285313 0 0 0 THEODORE DEWEESE SERVICEMAN 187189 0 2421 0 9185 0 42529 0 30496 0 271820 0 0 0 LLOYD SCIFRES FIELD SERVICES COORDINATOR 150830 0 2130 0 8608 0 39672 0 27005 0 228245 0 0 0 DAVID JONES FIELD ENGINEER SUPERVISOR 154500 0 752 0 13616 0 45402 0 8687 0 222957 0 0 0 JOHN HAWKINS CREW CHIEF 154010 0 2957 0 5519 0 26985 0 18004 0 207475 0 0 0 NICHOLAS PFLASTERER SERVICEMAN 157232 0 2382 0 320 0 6897 0 23386 0 190217 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. MARK SNOWDEN: ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 48,360 EMPLOYER CONTRIBUTION TO 401(K) 9,448 TOTAL REPORTED IN COLUMN C $ 57,808 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,360) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 104,535 EXPENSE TO THE COOPERATIVE $ 113,983 RANDY EVERETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 140,511 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,895 TOTAL REPORTED IN COLUMN C $ 145,406 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (140,511) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 71,910 EXPENSE TO THE COOPERATIVE $ 76,805 DANIEL RIEDEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 104,742 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,748 TOTAL REPORTED IN COLUMN C $ 109,490 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (104,742) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 69,566 EXPENSE TO THE COOPERATIVE $ 74,314 JERRY DRISKEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 75,006 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,657 TOTAL REPORTED IN COLUMN C $ 79,663 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (75,006) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 68,413 EXPENSE TO THE COOPERATIVE $ 73,070 MELISSA FELTY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,965 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,962 TOTAL REPORTED IN COLUMN C $ 51,927 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,965) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 55,421 EXPENSE TO THE COOPERATIVE $ 60,383 ASHLEY GARRINGER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,512 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,026 TOTAL REPORTED IN COLUMN C $ 48,538 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,512) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 66,314 EXPENSE TO THE COOPERATIVE $ 71,340 TONYA SEXTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,994 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,431 TOTAL REPORTED IN COLUMN C $ 41,425 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,994) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,058 EXPENSE TO THE COOPERATIVE $ 53,489 THEODORE DEWEESE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,240 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,289 TOTAL REPORTED IN COLUMN C $ 42,529 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,240) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,623 EXPENSE TO THE COOPERATIVE $ 35,912 LLOYD SCIFRES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,339 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,333 TOTAL REPORTED IN COLUMN C $ 39,672 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,339) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,623 EXPENSE TO THE COOPERATIVE $ 35,956 DAVID JONES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,304 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,098 TOTAL REPORTED IN COLUMN C $ 45,402 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,304) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,510 EXPENSE TO THE COOPERATIVE $ 48,608 JOHN HAWKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,687 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,298 TOTAL REPORTED IN COLUMN C $ 26,985 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,687) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,756 EXPENSE TO THE COOPERATIVE $ 36,054 NICHOLAS PFLASTERER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 4,841 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,056 TOTAL REPORTED IN COLUMN C $ 6,897 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (4,841) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,762 EXPENSE TO THE COOPERATIVE $ 24,818 FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP: MARK SNOWDEN (PRESIDENT/CEO) AND KARISSA RUSHING (DIRECTOR) BOTH SERVE ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVE CORPORATION (AECC) AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. MARK SNOWDEN (PRESIDENT/CEO), TRACY HUDSPETH (DIRECTOR), AND RICK LOVE (DIRECTOR) ALL SERVE ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVES, INC (AECI) AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. MELISSA FELTY (CFO) AND RICK LOVE (DIRECTOR) BOTH SERVE ON THE BOARD OF MID ARK UTILITIES AT THE REQUEST OF AND BENEFIT OF THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION 5. INCREASE IN BONDED INDEBTEDNESS FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE COOPERATIVE WILL REQUIRE THE BOARD OF DIRECTORS AND ITS OFFICERS TO COMPLETE AND SIGN A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM AND SUBMIT THEM TO THE PRESIDENT/CEO AND BOARD CHAIRMAN. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS USE A RETENTION AND COMPENSATION PLAN COMMITTEE WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT/CEO. THE COO USES A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEE. THE SURVEY INCLUDES SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT ARKANSAS AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS TO ALL MEMBERS OF THE COOPERATIVE PRIOR TO THE ANNUAL MEETING. THE COOPERATIVE'S BYLAWS AND ANNUAL REPORT ARE ALSO AVAILABLE ON THE COOPERATIVE'S WEBSITE. THE COOPERATIVE MAKES A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS AVAILABLE AT THE ANNUAL MEETING AND UPON REQUEST OF ANY MEMBER. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. AS PART OF THE PLAN DOCUMENT, THE COOPERATIVE PROVIDES A MATCHING CONTRIBUTION UP TO 2% OF A PARTICIPATING EMPLOYEE'S BASE SALARY. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) ARE COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: ALTHOUGHT THE COOPERATIVE IS NO LONGER AN RUS BORROWER, ITS ACCOUNTING RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH ITS ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $21,200,152 LESS: DIRECTOR FEES & BENEFITS REPORTED ON FORMS 1099-NEC (342,514) LESS: OFFICER & KEY EMPLOYEE BENEFITS INCLUDED IN LINE 5 (658,433) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 4,858,764 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 70,097 TOTAL WAGES ACCRUED AND/OR PAID $25,128,066 FORM 990, PART IX, LINE 24E: OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: SALES $ 2,766 SUBSIDIARY PROVISION FOR FEDERAL AND STATE TAXES (1,091,724) TAXES (679,302) TRANSMISSION 676,302 OTHER DEDUCTIONS 510 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $(1,091,448) FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2024 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 6,698,287 OFFICE SUPPLIES 1,820,489 OUTSIDE SERVICES 160,185 INSURANCES 406,524 EMPLOYEE BENEFITS 669,392 DIRECTORS 544,357 ANNUAL MEETING 94,847 CAPITAL CREDITS 37,883 MISCELLANEOUS GENERAL 1,588,406 FIBER NETWORK STUDY 0 REGULATORY COMMISSION 434,572 MAINTENANCE OF GENERAL PLANT 1,291,979 CONNECT 2 FIRST ADMIN & GENERAL EXPENSE 1,733,316 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $15,480,237 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (342,514) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (3,776,276) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,774,337) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 9,587,110 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 13,759,026. PATRONAGE CAPITAL RETIRED -7,307,068. PATRONAGE CAPITAL RETIRED - DISCOUNT -111,777. PATRONAGE CAPITAL RETIRED - UNCLAIMED AND RETAINED 1,665,100. NET CHANGE IN MEMBERSHIPS 12,430. SCHEDULE K-1 BOOK-TAX DIFFERENCE FOR UBI -1,293. OTHER COMPREHENSIVE INCOME PROVISION FOR POST-RETIREMENT BENEFIT OBLIGATION 1,263,628. CONNECT2FIRST LLC 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 72076 850617500 INTERNET SERVICE PROVIDER AR 26222487 55851179 FIRST ELECTRIC COOPERATIVE CORPORATION FIRST ELECTRIC TRUST 1000 S JP WRIGHT LOOP ROAD JACKSONVILLE AR 72076 311586917 DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE COOP'S SERVICE AREA AR 501(C)(3) LINE 7 FIRST ELECTRIC COOPERATIVE CORPORATION 1 FIRST ENERGY SERVICES OF ARKANSAS INC PO BOX 5018 JACKSONVILLE AR 72078 621695757 INACTIVE AR FIRST ELECTRIC COOPERATIVE CORPORATION C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 FIRST ELECTRIC TRUST B N/A - LESS THAN $50,000 FIRST ELECTRIC TRUST L N/A - LESS THAN $50,000 FIRST ELECTRIC TRUST N N/A - LESS THAN $50,000 FIRST ELECTRIC TRUST O N/A - LESS THAN $50,000 FIRST ELECTRIC TRUST Q N/A - LESS THAN $50,000