2017-09-01T11:49:06-04:00 2016-12-31 680666858 K EVE MCCOY CPA LLC 1518 LADY ST COLUMBIA SC 29201 990 2016-01-01 570216285 NEWBERRY ELECTRIC COOPERATIVE INC NEWB 8032761121 PO BOX 477 NEWBERRY SC 29108 GEORGE KEITH AVERY PRESIDENT & CEO 8032761121 2017-08-31 true K EVE MCCOY P01301422 8032569100 2017-09-01 X 4A2263A092EB24081D95C34AC92A363E47AE7E4E 4A2263A092EB24081D95C34AC92A363E47AE7E4E 2016 2021-01-29 14:40:06Z GEORGE KEITH AVERY 35109859 false X WWW.NEC.COOP X 1940 SC TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. 9 9 41 0 0 33512069 34776039 18970 46394 205112 287426 33736151 35109859 0 1285165 1085209 652392 710404 0 0 31798594 33314246 33736151 35109859 0 58556276 67070496 41085102 48465116 17471174 18605380 TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. false false 32715641 ELECTRIC SERVICE TO MEMBERS 32715641 false false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 42 0 41 true false false false false false 34635871 473988 false X 9 9 false false false false true true true true true false false true true true true true true true false false X ARTHUR GUY 8032761121 882 WILSON RD NEWBERRY SC 29108 JOHNNIE L DICKERT CHAIRMAN 4.00 1.00 X 30759 7800 0 WILLIAM B LOMINICK DIRECTOR 4.00 X 38349 0 0 BLAKE BRIGMAN DIRECTOR 4.00 X 32022 0 0 JOHN WAYNE NICHOLS SECRETARY 4.00 X 30458 0 0 JAMES CRAIG KESLER DIRECTOR 4.00 X 26312 0 0 DOUGLAS E HIPP DIRECTOR 4.00 X 25173 0 0 LEON FULMER JR DIRECTOR 4.00 X 23295 0 0 RICHARD O KOON DIRECTOR 4.00 X 22053 0 0 CHARLES J BISHOP VICE CHAIRMA 4.00 X 19509 0 0 PATTY H RUFF DIRECTOR 4.00 X 3584 0 0 GEORGE KEITH AVERY PRESIDENT & 57.00 1.00 X 212119 12762 80143 JASON G MERCHANT V.P. ENGINEE 40.00 X 138245 0 55800 ARTHUR GUY V.P. FINANCE 40.00 X 108526 0 47176 RICHARD HENRY RUFF DIRECTOR X 59287 0 0 TOBIE R SHEALY DIRECTOR 4.00 X 18232 0 0 HAROLD L PITTS DIRECTOR X 18066 0 0 805989 20562 183119 3 true true false LEE ELECTRICAL CONSTRUCTION INC PO BOX 55 ABERDEEN NC 283150055 UTILITY CONSTR 1828533 THE DAVEY TREE EXPERT COMPANY PO BOX 709 KENT OH 442400709 TREE SERVICE 1142084 SOUTHEAST UTILITIES OF GEORGIA 1020 FRANKE INDUSTRIAL DR AUGUSTA GA 30909 FIBER PROJECT 678102 CHAPEL MANNING 315 2ND AVE STE 409 WARREN PA 16365 GIS PROJECT 254826 WARREN CONSTRUCTION LLC 2096 HARMON QUARTERS RD PROSPERITY SC 29127 CONSTRUCTION 245668 6 ELECTRIC SALES 221000 34635871 34635871 QUALIFIED POLE RENTAL 140168 140168 34776039 46394 46394 CAPITAL CREDITS-ASSOC ORG 221000 287206 287206 MISCELLANEOUS 220 220 287426 35109859 34923297 186562 1085209 1085209 463633 463633 246771 246771 1634650 1634650 2162405 2162405 PURCHASED POWER 21940043 21940043 DISTRIBUTION-MAINTENANCE 2394713 2394713 TAXES 1750153 1750153 ADMIN AND GENERAL 1683814 1683814 1748468 1748468 35109859 32715641 2394218 0 802419 4079748 2123594 2580457 467878 360020 68503 70851 81656513 24051430 52913357 57605083 2180525 2374337 58556276 67070496 1944062 2434983 35490043 41765772 3650997 4264361 41085102 48465116 X 17471174 18605380 17471174 18605380 58556276 67070496 0 1134206 X false true X false false 81656513 24051430 57605083 57605083 ACCUM. PROV. POSTRETIREMENT BENEFITS 2511000 DEFERRED CREDITS 1052685 CONSUMER DEPOSITS 700676 4264361 35109859 35109859 35109859 34024650 34024650 1085209 1085209 35109859 SCHEDULE D, PAGE 4, PART XII, LINE 4B AMOUNT REPORTED ON FORM 990, PART IX, LINE 4 AS BENEFITS 0 PAID TO OR FOR MEMBERS IS NOT REPORTED AS AN EXPENSE IN 0 THE FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING 0 PRINCIPLES (GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS 0 PAID AS AN EXPENSE 1,085,209 false true false GEORGE KEITH AVERY PRESIDENT & CEO 212119 12762 61791 18352 292262 12762 JASON G MERCHANT V.P. ENGINEER 138245 37837 17963 194045 ARTHUR GUY V.P. FINANCE 108526 37290 9886 155702 RICHARD HENRY RUFF DIRECTOR 59287 59287 TOBIE R SHEALY DIRECTOR 18232 18232 HAROLD L PITTS DIRECTOR 18066 18066 SCHEDULE J, PAGE 1, PART I, LINE 4 JOHNNIE L. DICKERT 0 4,805 0 WILLIAM B. LOMINICK 0 3,179 0 JOHN WAYNE NICHOLS 0 3,908 0 RICHARD O. KOON 0 6,550 0 CHARLES J. BISHOP 0 5,328 0 FORM 990 IN ACCORDANCE WITH ITS 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. ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY PATRON SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE PATRON. PURSUANT TO THE BYLAWS, THE COOPERATIVE HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO ITS MEMBERS REPORTED ON FORM 990, PART IX, LINE 4 TO BE CAPITAL CREDITS ALLOCATED FOR 2016. FORM 990, PAGE 6, PART VI, LINE 6 THE CORPORATION IS ORGANIZED AND OPERATED AS A COOPERATIVE. IT IS COMPRISED OF MEMBERS WHO OWN AND MANAGE THE CORPORATION. THE MEMBER IS DEFINED AS A "PERSON" ( AN INDIVIDUAL, CORPORATION, OR COOPERATIVE) ENTITLED TO PARTICIPATE IN THE COOPERATIVE'S MANAGEMENT. A PERSON MAY BECOME A MEMBER OF THE COOPERATIVE BY: A. APPLYING FOR MEMBERSHIP THEREIN UPON SUCH TERMS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS; B. AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE; C. AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS; D. PAYING THE MEMBERSHIP FEE; E. MAINTAINING AN ACTIVE ACCOUNT IN GOOD STANDING WITH THE COOPERATIVE AS DEFINED IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 7A EACH MEMBER HAS ONE VOTE. DIRECTORS ARE ELECTED BY THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO ONLY ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT ANY MEETING OF THE MEMBERS. A MEMBER HAS THE RIGHT TO ELECT THE BOARD OF DIRECTORS AND PARTICIPATE IN THE COOPERATIVE'S BUSINESS. DIRECTORS SHALL SERVE TERMS OF THREE (3) YEARS EACH AND SHALL BE ELECTED AT EACH ANNUAL MEETING OF THE MEMBERS AND SHALL SERVE UNTIL A SUCCESSOR HAS BEEN ELECTED. REMOVAL - ANY MEMBER MAY BRING ONE OR MORE CHARGES FOR CAUSE AGAINST ANY ONE OR MORE TRUSTEES AND MAY REQUEST THE REMOVAL OF SUCH TRUSTEE(S) BY REASON THEREOF BY FILING WITH THE SECRETARY SUCH CHARGE(S)IN WRITING, TOGETHER WITH A PETITION SIGNED BY NOT LESS THAN TEN PERCENT OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE. DISSOLUTION - THE COOPERATIVE MAY AUTHORIZE THE SALE, LEASE, LEASE-SALE, EXCHANGE, TRANSFER, DISSOLUTION OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTIES AND ASSETS ONLY UPON THE AFFIRMATIVE VOTES OF TWO-THIRDS OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE AT A DULY HELD MEETING OF THE MEMBERS. FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT COPY OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS AT THE REGULAR BOARD MEETING PRIOR TO THE DUE DATE OF THE RETURN BEING FILED FOR THEIR REVIEW. FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS REVIEWS ANY CIRCUMSTANCES THAT MAY HAVE A CONFLICT OF INTEREST ON AN ANNUAL BASIS. THE PRESIDENT AND CEO WILL BRING TO THE ATTENTION OF THE BOARD OF DIRECTORS POTENTIAL AREAS OF CONFLICT OF INTEREST FOR THE BOARD TO ACT UPON. FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO. THEY UTILIZE NRECA SALARY DATA FOR COMPARISON AND MAKE RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS. THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON THE RECOMMENDATIONS OF THE EXECUTIVE COMMITTEE. THIS PROCESS WAS LAST UNDERTAKEN IN 2016. . FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. ANNUAL REPORTS ARE MAILED TO MEMBERS EACH YEAR AND ADDITIONAL COPIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 DECREASE IN OTHER EQUITIES 0 POST RETIREMENT BENEFITS ADJUSTMENT 603,100 INCREASE IN MEMBERSHIPS 410 AMOUNT REPORTED ON FORM 990, 0 PART IX, LINE 4 AS BENEFITS PAID 0 TO OR FOR MEMBERS IS NOT REPORTED 0 AS AN EXPENSE IN THE FINANCIAL 0 STATEMENTS. GENERALLY ACCEPTED 0 ACCOUNTING PRINCIPLES (GAAP) 0 DOES NOT RECOGNIZE PATRONAGE 0 DIVIDENDS PAID AS AN EXPENSE. 1,085,209 PATRONAGE CAPITAL RETIRED -524,179 DECREASE IN OTHER EQUITIES -30,334 TOTAL 1,134,206