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            <StateAbbreviationCd>MS</StateAbbreviationCd>
            <ZIPCd>39205</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ROW CLEARANCE</ServicesDesc>
        <CompensationAmt>427529</CompensationAmt>
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          <BusinessName>
            <BusinessNameLine1Txt>TREES INC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>1700 SOLUTIONS CENTER</AddressLine1Txt>
            <CityNm>CHICAGO</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60677</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ROW CLEARANCE</ServicesDesc>
        <CompensationAmt>343223</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SEELBACH &amp; COMPANY</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
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          <USAddress>
            <AddressLine1Txt>400 FARMER COURT</AddressLine1Txt>
            <CityNm>LAWRENCEVILLE</CityNm>
            <StateAbbreviationCd>GA</StateAbbreviationCd>
            <ZIPCd>30046</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ROW CLEARANCE</ServicesDesc>
        <CompensationAmt>227257</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>5</CntrctRcvdGreaterThan100KCnt>
      <ProgramServiceRevenueGrp>
        <Desc>PROGRAM SERVICE REVENUE</Desc>
        <TotalRevenueColumnAmt>84459792</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>84459792</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
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      <InvestmentIncomeGrp>
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        <TotalRevenueColumnAmt>212654</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>212654</RelatedOrExemptFuncIncomeAmt>
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        <TotalRevenueColumnAmt>85708054</TotalRevenueColumnAmt>
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        <TotalAmt>5070306</TotalAmt>
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        <TotalAmt>1421899</TotalAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>5234641</TotalAmt>
      </DepreciationDepletionGrp>
      <OtherExpensesGrp>
        <Desc>PURCHASED POWER</Desc>
        <TotalAmt>62368840</TotalAmt>
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      <OtherExpensesGrp>
        <Desc>MAINTENANCE</Desc>
        <TotalAmt>4194431</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>TRANSMISSION AND DIST</Desc>
        <TotalAmt>3619729</TotalAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>ADMINISTRATIVE AND GEN</Desc>
        <TotalAmt>2230302</TotalAmt>
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      <AllOtherExpensesGrp>
        <TotalAmt>-1254719</TotalAmt>
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      <TotalFunctionalExpensesGrp>
        <TotalAmt>82885429</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>0</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
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      <CashNonInterestBearingGrp>
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        <EOYAmt>345118</EOYAmt>
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      <SavingsAndTempCashInvstGrp>
        <BOYAmt>13979391</BOYAmt>
        <EOYAmt>12619304</EOYAmt>
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      <AccountsReceivableGrp>
        <BOYAmt>4138678</BOYAmt>
        <EOYAmt>3255580</EOYAmt>
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      <InventoriesForSaleOrUseGrp>
        <BOYAmt>1249580</BOYAmt>
        <EOYAmt>1087416</EOYAmt>
      </InventoriesForSaleOrUseGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>6045573</BOYAmt>
        <EOYAmt>5517641</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>146937058</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>64414781</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>79493895</BOYAmt>
        <EOYAmt>82522277</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>3959221</BOYAmt>
        <EOYAmt>3678314</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>109312537</BOYAmt>
        <EOYAmt>109025650</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>8733785</BOYAmt>
        <EOYAmt>7757944</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>21976679</BOYAmt>
        <EOYAmt>20114056</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>1744053</BOYAmt>
        <EOYAmt>1474200</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>32454517</BOYAmt>
        <EOYAmt>29346200</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
      <CapStkTrPrinCurrentFundsGrp>
        <BOYAmt>248651</BOYAmt>
        <EOYAmt>247456</EOYAmt>
      </CapStkTrPrinCurrentFundsGrp>
      <RtnEarnEndowmentIncmOthFndsGrp>
        <BOYAmt>76609369</BOYAmt>
        <EOYAmt>79431994</EOYAmt>
      </RtnEarnEndowmentIncmOthFndsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>76858020</BOYAmt>
        <EOYAmt>79679450</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>109312537</BOYAmt>
        <EOYAmt>109025650</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>2822625</ReconcilationRevenueExpnssAmt>
      <OtherChangesInNetAssetsAmt>-1195</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>true</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>true</FederalGrantAuditPerformedInd>
    </IRS990>
    <IRS990ScheduleD documentId="RetDoc2">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>604456</OtherCostOrOtherBasisAmt>
        <BookValueAmt>604456</BookValueAmt>
      </LandGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>146332602</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>64414781</DepreciationAmt>
        <BookValueAmt>81917821</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>82522277</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>CUSTOMER DEPOSITS</Desc>
        <Amt>964091</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED CREDITS</Desc>
        <Amt>510109</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>1474200</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>85708054</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>85708054</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>85708054</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>82885429</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>82885429</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>82885429</TotalExpensesPerForm990Amt>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="RetDoc3">
      <ClubDuesOrFeesInd>X</ClubDuesOrFeesInd>
      <WrittenPolicyRefTAndEExpnssInd>true</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>true</SubstantiationRequiredInd>
      <CompensationCommitteeInd>X</CompensationCommitteeInd>
      <IndependentConsultantInd>X</IndependentConsultantInd>
      <Form990OfOtherOrganizationsInd>X</Form990OfOtherOrganizationsInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DAN RODAMAKER</PersonNm>
        <TitleTxt>PRES. &amp; CEO</TitleTxt>
        <BaseCompensationFilingOrgAmt>299756</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>1631</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>29845</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>105730</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>31885</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>468847</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>CHARLES PHILLIPS</PersonNm>
        <TitleTxt>VP OF ENGINEERING</TitleTxt>
        <BaseCompensationFilingOrgAmt>138402</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>4073</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>8200</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>39967</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>27916</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>218558</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>BARRY SMITH</PersonNm>
        <TitleTxt>VP OF OPERATIONS/SYS</TitleTxt>
        <BaseCompensationFilingOrgAmt>135422</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>3863</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>7393</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>44993</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>28756</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>220427</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>RITA ALEXANDER</PersonNm>
        <TitleTxt>VP OF COMMUNICATIONS</TitleTxt>
        <BaseCompensationFilingOrgAmt>101044</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>5202</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>4576</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>31102</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>29476</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>171400</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>RICHARD BEDEN</PersonNm>
        <TitleTxt>VP OF ACCT. AND FIN</TitleTxt>
        <BaseCompensationFilingOrgAmt>98780</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>5142</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>6861</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>26699</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>29111</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>166593</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>EMILY SULLIVAN</PersonNm>
        <TitleTxt>VP OF ECON. DEVEL.</TitleTxt>
        <BaseCompensationFilingOrgAmt>90693</BaseCompensationFilingOrgAmt>
        <BonusFilingOrganizationAmount>5576</BonusFilingOrganizationAmount>
        <OtherCompensationFilingOrgAmt>4219</OtherCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>32915</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>22206</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>155609</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc4">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>GIBSON ELECTRIC MEMBERSHIP CORPORATION IS ORGANIZED WITH MEMBERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>GIBSON ELECTRIC MEMBERSHIP CORPORATION'S TRUSTEES ARE ELECTED BY THE MEMBERS OF THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 10B</FormAndLineReferenceDesc>
        <ExplanationTxt>GIBSON ELECTRIC MEMBERSHIP CORPORATION HAS DISTRICT OR BRANCH OFFICES THROUGHOUT NORTHWEST TENNESSEE BUT THEY OPERATE AS ONE ENTITY IN POLICY MAKING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THIS RETURN IS PRESENTED TO THE EXECUTIVE COMMITTEE AND MADE AVAILABLE TO THE FULL BOARD AT ITS COMPLETION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>EMPLOYEES AND THE BOARD OF TRUSTEES SHALL MAKE FULL DISCLOSURE TO THE BOARD OF TRUSTEES OF ANY FACTS INDICATING A CONFLICT OF INTEREST AS IT ARISES. THEY SHALL DISQUALIFY THEMSELVES FROM VOTING ON A DECISION POSING A CONFLICT OF INTEREST OR THE APPEARANCE OF A CONFLICT OF INTEREST. THE PRESIDENT AND CEO SHALL PROVIDE ASSISTANCE TO THE BOARD OF TRUSTEES TO ASSURE COMPLIANCE WITH THIS POLICY. THE PRESIDENT AND CEO SHALL ALSO DEVELOP AND ENFORCE AN APPROPRIATE MANAGEMENT POLICY RELATING TO CONFLICTS OF INTEREST OF EMPLOYEES. THE GENERAL COUNSEL SHALL ADVISE INDIVIDUAL BOARD MEMBERS AND/OR THE BOARD OF TRUSTEES REGARDING COMPLIANCE WITH THIS POLICY. THE BOARD OF TRUSTEES SHALL REVIEW COMPLIANCE WITH THIS POLICY AND COUNSEL WITH ANY BOARD MEMBER AS THE SITUATION MAY REQUIRE. THE BOARD OF TRUSTEES SHALL ASSURE, TO THE EXTENT POSSIBLE, THAT THE COOPERATIVE IS NOT DAMAGED OR COMPROMISED BECAUSE OF THE EXISTENCE OF A CONFLICT OF INTEREST ON THE PART OF BOARD MEMBERS OR THE GENERAL COUNSEL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>A COMPENSATION STUDY IS PERFORMED USING THE NRECA TO DETERMINE SALARIES FOR THE ORGANIZATION'S CEO, OFFICERS, AND OTHER KEY EMPLOYEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COMPENSATION STUDY IS PERFORMED USING THE NRECA TO DETERMINE SALARIES FOR THE ORGANIZATION'S CEO, OFFICERS, AND OTHER KEY EMPLOYEES. PAYROLL DETERMINATIONS FOR EMPLOYEES ARE ALSO DONE WITH THE HELP OF THE PERSONNEL COMMITTEE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>RETURN AVAILABLE UPON REQUEST</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN MEMBERSHIPS -1,195 TOTAL -1,195</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>