2016-11-09T13:18:18-06:00 2016-06-30 631035228 Jackson Thornton & Co PC P O Box 96 Montgomery AL 361010096 990 2015-07-01 620238497 Holston Electric Cooperative Inc HOLS 4232728821 1200 West Main Street Rogersville TN 37857 Jeff Ringley President 4232728821 2016-11-09 1 Patrick Cooper P00856177 3348347660 2016-11-08 2015 2017-02-10 21:41:12Z Jeff Ringley 1200 West Main Street Rogersville TN 37857 72190935 0 X http://www.holstonelectric.com X 1940 TN At Holston Electric Cooperative our mission is to provide safe, dependable electric service to our member-owners at a reasonable cost. 7 7 74 0 0 0 0 0 74365197 70002475 669060 617792 64913 1567790 75099170 72188057 0 0 0 2027960 4757982 459817 0 0 0 68482721 69700280 73240703 72188057 1858467 0 81675997 84764183 18867882 17966971 62808115 66797212 At Holston Electric Cooperative our mission is to provide safe, dependable electric service to our member-owners at a reasonable cost. 0 0 Holston Electric Cooperative is a customer-owned distributor of TVA power, providing service to more than 30,000 residential, commercial and industrial customers in a 525 square-mile area of Hawkins and Hamblen Counties in upper East Tennessee. 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 42 0 1 74 1 0 0 0 0 0 0 0 70067251 795872 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Phil Campbell 4232728821 1200 West Main Street Rogersville TN 37857 Gordon Ely Director/President 6.00 X X 13050 0 0 Jeff Ringley Director/Vice President 4.00 X X 8850 0 0 Melvin Greene Director/Secretary/Treasurer 6.00 X X 13050 0 0 Dr David Britton Director 2.00 X 5100 0 0 Lynn Parker Director 4.00 X 9050 0 0 Phil Barrett Director 6.00 X 12050 0 0 Brent Price Director 4.00 X 2125 0 0 David Marshall Director 7.00 X 11975 0 0 Shannon Bellamy Director of Finance and Human Resources 50.00 X 123958 0 89784 James B Sandlin General Manager 55.00 X 130123 0 7667 John Long Director of Engineering 50.00 X 114459 0 87081 Leonard Eidson Foreman 48.00 X 113146 0 13755 Larry Elkins General Manager (Former) 55.00 X 170994 0 13755 727930 0 212042 5 1 1 0 Asplundh Tree Expert Co PO Box 532729 Atlanta GA 30353 Tree Trimming 1554696 Service Electric Company Inc PO Box 277790 Atlanta GA 30384 Construction 536501 Southeastern Data Cooperative 100 Ashford Center North Atlanta GA 30338 Information Systems 390841 Hale Construction Inc PO Box 1674 Morristown TN 37816 Construction 285568 Tele-Optics Inc 1041 Tidewater Kingsport TN 37660 Telecomm Consultant 132546 6 Sales of Electricity 221000 69371199 69371199 Other Electric Revenue 221000 631276 631276 70002475 617792 617792 1389711 0 1389711 1389711 1389711 4100 2878 1222 1222 Non-Operating Revenue 221000 176857 176857 176857 72188057 70180554 0 2007503 X 2027960 459817 493692 3308448 Purchased Power 56535244 Distribution-Maintenanc 3448046 Distribution-Operations 2742413 Accounting & Collection 1964011 1208426 72188057 6117033 6367993 4494199 4059476 2375524 2253807 763923 824471 5765282 5098318 101211799 45559634 52111179 55652165 9147543 7799090 901314 2708863 81675997 84764183 10862277 10271775 1679517 1557832 6326088 6137364 18867882 17966971 X 0 0 146495 147165 62661620 66650047 62808115 66797212 81675997 84764183 X 0 3989097 X 0 1 X 1 0 600741 600741 2161262 1161134 1000128 98449796 44398500 54051296 55652165 Cooperative Finance Corp (CFC) Med Term 4500000 C CFC Members Capital Security 2000000 C CFC Loan Capital Term Certificates @ 0-5% 788957 C CFC Patronage Allocations 133347 C SEDC Patronage Allocations 188986 C Federated Patronage Allocations 144555 C Miscellaneous Other Investments 43245 C 7799090 Advances from the TVA 2296936 Deferred Compensation 257982 Accumulated Post Retirement Benefits 296361 Advances for Construction 72875 Customer Deposits 3213210 6137364 X 72188057 0 72188057 0 72188057 70160097 0 70160097 2027960 2027960 72188057 Part X, Line 2: Income taxes - The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements. Part XII, Line 4b - Other Adjustments: Margins Assigned/Assignable to Members 2,027,960. X 1 1 X X X X X X 0 0 0 Shannon Bellamy Director of Finance and Human Resour 123958 0 0 0 0 0 76029 0 13755 0 213742 0 0 0 John Long Director of Engineering 114459 0 0 0 0 0 73326 0 13755 0 201540 0 0 0 Larry Elkins General Manager (Former) 170994 0 0 0 0 0 0 0 13755 0 184749 0 0 0 Part I, Line 1a The cooperative grossed up the compensation of the new General Manager for his relocation expenses. Form 990, Part VI, Section A, line 6 As a cooperative we are owned by the members we serve. Form 990, Part VI, Section A, line 7a Members are eligible to vote for any representative running for election. There are seven districts, each with a representative. Representatives serve a three year term. Form 990, Part VI, Section B, line 11 The Form 990 is prepared by an independent accounting firm using the information provided by the supervisor of general accounting. The Form 990 is then reviewed by the Director of Finance and Human Resources. It is then presented to the Board of Directors before it is filed. Form 990, Part VI, Section B, line 12c The conflict of interest policy is monitored by the board of directors annually at the organizational meeting. Each Director signs a statement of code of conduct. Within this code of conduct is language regarding conflicts of interest. Approval of the code of conduct is recorded in the minutes. Form 990, Part VI, Section B, line 15 The personnel committee of the Board of Directors annually reviews the performance of the General Manager. The committee reviews competitive salary survey data including a competitive range for general managers in comparable organizations and develops a salary recommendation that is presented to the full board of directors for a vote. The decision is documented in the minutes of the board meeting. The personnel committee compares the General Manager's salary to the salaries of other general managers of electric utilities both nationally and within the state. Officer and key employee salaries are determined by the General Manager using similar evaluation and salary comparison criteria as used by the personnel committee. The cooperative's pay grades and compensation are competitive. Pay grades are reviewed annually and may be adjusted by a competitive factor as determined by the results of competitive market surveys. Form 990, Part VI, Section C, line 19 The cooperative's governing documents are the bylaws. The bylaws are given to all new members. The bylaws are also made available on our website and upon request. The conflict of interest is available upon request. Financial statements are presented annually at the member's annual meeting. The financial statements are also published annually in our member publication. Form 990, Part IX, Line 4 The instructions to the Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. Holston Electric Cooperative, Inc. has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Form 990, Part XI, line 9: Increase in memberships 670. Prior period adjustment 1,960,467. Margins Assigned/Assignable to Members 2,027,960. Form 990 Part X Lines 25 & 31 On the 2014 Form 990 customer deposits totaling $3,172,266 were included on Line 31. Customer deposits were reported as an other liability on line 25 in the 2015 Form 990. In order for the balances to be comparative, the customer deposits in the beginning of the year column were reclassified from Line 31 to Line 25.