2025-11-17T20:23:21-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 850094212 COLUMBUS ELECTRIC COOPERATIVE INC COLU 5755468838 PO BOX 631 DEMING NM 880310631 CHRISTOPHER MARTINEZ GENERAL MANAGER/EXECUTIVE VP 5755468838 2025-11-14 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-14 X 2024 2025-03-06 01:10:19Z CHRISTOPHER MARTINEZ PO BOX 631 DEMING NM 880310631 16881774 0 X WWW.COLUMBUSCO-OP.ORG X 1946 NM TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 9 9 29 0 0 0 0 0 15325137 16691535 188992 147202 23929 43037 15538058 16881774 0 0 1179004 1543139 1618522 1848970 0 0 0 13140532 13858665 15938058 17250774 -400000 -369000 52317721 53196558 31823248 31845947 20494473 21350611 NONE 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 5,560 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 29 0 29 1 0 0 0 0 0 16151392 376979 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 0 1 0 1 0 0 X CHRISTOPHER MARTINEZ 5755468838 900 N GOLD STREET DEMING NM 88031 X RANDY MASSEY PRESIDENT 4.40 1.00 X X 14946 0 0 NANCY CLOPTON VICE PRESIDENT 3.40 1.00 X X 14846 0 0 WILLIAM A SWIFT SECRETARY/TREASURER 3.90 1.00 X X 21334 0 0 JOEL NANEZ ASST SECRETARY/TREASURER 3.30 1.00 X X 21134 0 0 NANCY CLOUDT TRUSTEE 3.90 1.00 X 8028 0 0 JOE JOHNSON TRUSTEE 3.70 1.00 X 21234 0 0 HAL B KEELER TRUSTEE (JAN) 2.70 1.00 X 644 0 0 SHANNON NUNN TRUSTEE 4.90 1.00 X 11636 0 0 JAY PETERSON TRUSTEE 4.50 1.00 X 27786 0 0 DAREN ALBRECHT TRUSTEE 2.70 1.00 X 16000 0 0 CHRISTOPHER MARTINEZ GENERAL MANAGER/EXECUTIVE VP 55.00 X 168856 0 93653 BRYAN JACKSON OPERATIONS MANAGER 50.00 X 145372 0 75528 DANIEL LOPEZ LINE SUPERINTENDENT 50.00 X 129474 0 41914 RACHEL MARRUFO OFFICE MANAGER 50.00 X 122443 0 60750 PEDRO SANCHEZ CREW FOREMAN 50.00 X 119598 0 38827 GARRETT GREEN CREW FOREMAN 50.00 X 120067 0 30844 963398 0 341516 6 0 1 0 NISC ONE INNOVATION CIRCLE LAKE SAINT LOUIS MO 63367 SOFTWARE AND BILLING SERVICES 195031 TRANSMISSION & DISTRIBUTION SERVICES LL 5401 BEVERLY HILLS AVE NE ALBUQUERQUE NM 87113 SUBSTATION CONTRACTOR 126062 2 X SALES OF ELECTRICITY 221000 16065381 16065381 PATRONAGE DIVIDENDS 221000 625754 625754 SERVICE FEES 221000 400 400 16691535 147202 147202 POLE ATTACHMENT INCOME 221000 24854 24854 MISC. NON-OPERATING INCOME 221000 18183 18183 43037 16881774 16709718 0 172056 X 1543139 420097 955450 115818 274255 83350 910143 1762236 PURCHASED POWER 9226544 ADMIN & GENERAL EXPENSE 794784 DISTRIBUTION EXPENSE 679518 CONSUMER EXPENSE 474609 10831 17250774 4850634 958539 1000000 3000000 775991 788057 240875 233697 718890 686644 64407191 25483274 36968255 38923917 400000 774137 6716590 7315500 646486 516067 52317721 53196558 1015264 1176159 28826598 28351231 1981386 2318557 31823248 31845947 X 0 0 0 0 20494473 21350611 20494473 21350611 52317721 53196558 X -369000 1225138 X X 0 0 0 196618 196618 2925611 1172063 1753548 59443029 24311211 35131818 1841933 1841933 38923917 PATRONAGE CAPITAL - TSG&T 6499303 C PATRONAGE CAPITAL - CFC 102819 C PATRONAGE CAPITAL - FEDERATED 191276 C PATRONAGE CAPITAL - VTC 27624 C PATRONAGE CAPITAL - WUESC 69526 C PATRONAGE CAPITAL - NISC 43702 C PATRONAGE CAPITAL - COBANK 45230 C PATRONAGE CAPITAL - CRC 1541 C PATRONAGE CAPITAL - NRTC 867 C CAPITAL TERM CERTIFICATES - CFC 312127 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 21485 C 7315500 CONSUMER DEPOSITS 972233 DEFERRED CREDITS 399824 ACCUMULATED PROVISION FOR PENSION & BENEFITS 7818 ACCRUED OPERATING TAXES 169682 DEFERRED REVENUE 769000 2318557 PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF 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. 1 X 0 0 0 CHRISTOPHER MARTINEZ GENERAL MANAGER/EXECUTIVE VP 135456 0 30000 0 3400 0 63384 0 30269 0 262509 0 0 0 BRYAN JACKSON OPERATIONS MANAGER 132459 0 10000 0 2913 0 43634 0 31894 0 220900 0 0 0 RACHEL MARRUFO OFFICE MANAGER 107516 0 13000 0 1927 0 33070 0 27680 0 183193 0 0 0 DANIEL LOPEZ LINE SUPERINTENDENT 125348 0 3500 0 626 0 10488 0 31426 0 171388 0 0 0 PEDRO SANCHEZ CREW FOREMAN 116992 0 2500 0 106 0 7780 0 31047 0 158425 0 0 0 GARRETT GREEN CREW FOREMAN 117521 0 2500 0 46 0 7133 0 23711 0 150911 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. 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. CHRISTOPHER MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 55,615 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,769 TOTAL REPORTED IN COLUMN C 63,384 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,615) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,897 EXPENSE TO THE COOPERATIVE $ 32,666 BRYAN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,870 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,764 TOTAL REPORTED IN COLUMN C 43,634 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,870) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,574 EXPENSE TO THE COOPERATIVE $ 24,338 RACHEL MARRUFO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,904 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,166 TOTAL REPORTED IN COLUMN C 33,070 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,904) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,762 EXPENSE TO THE COOPERATIVE $ 25,928 DANIEL LOPEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,123 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,365 TOTAL REPORTED IN COLUMN C 10,488 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,123) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,105 EXPENSE TO THE COOPERATIVE $ 22,470 PEDRO SANCHEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 2,767 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,013 TOTAL REPORTED IN COLUMN C 7,780 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (2,767) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,991 EXPENSE TO THE COOPERATIVE $ 21,004 GARRETT GREEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 2,150 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,983 TOTAL REPORTED IN COLUMN C 7,133 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (2,150) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,084 EXPENSE TO THE COOPERATIVE $ 20,067 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 TRUSTEES. 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. AMENDMENT TO THE BYLAWS 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 AND PAID PREPARER REVIEW DRAFTS OF FORM 990 PRIOR TO E-FILING. BOARD REVIEWS ANNUAL FILINGS AT MONTHLY MEETINGS. FORM 990, PART VI, SECTION B, LINE 12 THE COOPERATIVE DOES NOT HAVE A WRITTEN POLICY, BUT THE BOARD AND MANAGEMENT ANNUALLY REVIEW THE SERVICES THAT ARE RELATED TO BOARD, MANAGEMENT OR EMPLOYEES TO DISCLOSE THOSE RELATIONSHIPS AND APPROVE THE USE OF THOSE SERVICES THAT ARE IN THE BEST INTEREST OF THE COOPERATIVE. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY, THE BOARD OF TRUSTEES DETERMINE THE COMPENSATION OF THE GENERAL MANAGER. OTHER THAN THE GENERAL MANAGER, THE COOPERATIVE DID NOT HAVE ANY EMPLOYEES MEETING THE DEFINITION OF OFFICER OR KEY EMPLOYEE. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, LINE 15B HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. FORM 990, PARTS VI & VII: THE COOPERATIVE ANNUALLY PROVIDES EACH TRUSTEE WHO SERVED ON THE BOARD DURING THE YEAR A QUESTIONNAIRE AND TIME LOG. THE COMPLETED QUESTIONNAIRES AND TIME LOGS ARE USED TO COMPLETE THE APPLICABLE QUESTIONS ON THE FORM 990 PERTAINING TO BUSINESS RELATIONSHIPS AMONG TRUSTEES AND OFFICERS, AS WELL AS TO DETERMINE IF THERE ARE ANY TRANSACTIONS WHICH MUST BE REPORTED IN DETAIL ON SCHEDULE L - "TRANSACTIONS WITH INTERESTED PERSONS". IF THE COOPERATIVE WAS UNABLE TO OBTAIN A COMPLETED QUESTIONNAIRE AND/OR TIME LOG, THE COOPERATIVE RELIED UPON THE COMPLETED INFORMATION FOR THE PRIOR YEAR. MR. HAL KEELER PASSED AWAY JANUARY 2024 AND THE COOPERATIVE DID NOT RECEIVE A QUESTIONNAIRE FROM HIM; THEREFORE, HIS PRIOR YEAR QUESTIONNAIRE WAS RELIED UPON WHILE PREPARING THE 2024 FORM 990. 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. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. 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 AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICER AND HIGHLY COMPENSATED EMPLOYEES IS 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. FORM 990, PART VII, SECTION A: THE BOARD OF TRUSTEES CONSIDER THE GENERAL MANAGER TO BE BOTH THE TOP MANAGEMENT OFFICIAL AND THE TOP FINANCIAL OFFICIAL. THEREFORE, ONLY THE GENERAL MANAGER IS LISTED AS AN EMPLOYEE OFFICER. FORM 990, PART VIII, LINE 2B: 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: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES MODIFIED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICE(RUS). 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 THEIR 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 $ 1,375,547 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (157,588) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (93,653) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 436,572 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 294,384 TOTAL WAGES ACCRUED AND/OR PAID $ 1,855,262 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 519,736 OFFICE SUPPLIES 98,763 OUTSIDE SERVICES 85,848 TRUSTEES 247,619 ANNUAL MEETING 46,819 INSTITUTIONAL & GOODWILL ADVERTISING 44,031 DUES TO ASSOCIATED ORGANIZATIONS 93,737 MISCELLANEOUS GENERAL 50,739 UTILITY COMMISSION 81,536 MAINTENANCE OF GENERAL PLANT 131,658 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 1,400,486 LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (157,588) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (297,874) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (150,240) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 794,784 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 CALENDAR TAX 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 XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 1,543,139. PATRONAGE CAPITAL RETIRED -318,001. FORM 990, PART XII, LINE 2B: AUDITED FINANCIAL STATEMENTS WERE PREPARED BY AN INDEPENDENT ACCOUNTANT FOR THE COOPERATIVE'S FINANCIAL STATEMENT AUDIT YEAR END OF JULY 31. THE TAX RETURN HAS BEEN AND CONTINUES TO BE PREPARED BASED ON A CALENDAR TAX YEAR END OF DECEMBER 31. THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. COLUMBUS ELECTRIC SCHOLARSHIP INC PO BOX 631 DEMING NM 88031 850373471 TO PROVIDE COLLEGE SCHOLARSHIPS TO ACTIVE MEMBERS AND FAMILIES. NM 501(C)(3) PF COLUMBUS ELECTRIC COOPERATIVE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 COLUMBUS ELECTRIC SCHOLARSHIP INC N N/A - LESS THAN $50,000 COLUMBUS ELECTRIC SCHOLARSHIP INC O N/A - LESS THAN $50,000