2016-10-31T15:31:06-04:00 2015-12-31 990 2015-01-01 590196695 CLAY ELECTRIC COOPERATIVE INC CLAY PO BOX 308 Keystone Heights FL 32656 RICHARD K DAVIS General Manager 3524738000 2016-08-03 2015 2017-02-10 21:41:12Z RICHARD K DAVIS 372348326 false X WWW.CLAYELECTRIC.COM X 1937 FL TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING EXCELLENT CUSTOMER SERVICE AND RELIABLE ELECTRIC SERVICE AT COMPETITIVE RATES WHILE MAINTAINING THE FINANCIAL STABILITY OF THE COOPERATIVE. 9 7 477 483340 331596 0 377602000 371641042 400542 297897 393382 388794 378395924 372327733 0 25047654 22695666 5657684 6240534 0 0 347690586 343391533 378395924 372327733 0 612442854 623067612 289599272 284921853 322843582 338145759 TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING EXCELLENT CUSTOMER SERVICE AND RELIABLE ELECTRIC SERVICE AT COMPETITIVE RATES WHILE MAINTAINING THE FINANCIAL STABILITY OF THE COOPERATIVE. false false 372327733 PROVISION OF RELIABLE ELECTRIC SERVICE TO CONSUMERS IN A 15 COUNTY AREA. 372327733 false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false true false false false false false true true true false true X 375 0 477 true true false false false false false 360052582 1591953 false X 9 7 false false false false true true true true true false true true true true true true true true true true false FL X RICHARD K DAVIS 3524738000 PO BOX 308 Keystone Heights FL 326560308 JOSEPH C MALPHURS TRUSTEE 12.00 0.20 X 22246 0 0 KAREN HASTINGS TRUSTEE 10.00 0.00 X 13899 0 0 KELLEY R SMITH Jr TRUSTEE-PRESIDENT 12.00 0.20 X X 21633 0 0 CLYDE D HERSEY TRUSTEE-VICE PRESIDENT 10.00 0.20 X X 15950 0 0 JOANN R SMITH TRUSTEE-SECRETARY 8.00 0.00 X X 19218 0 0 CARL F HAGGLUND TRUSTEE 12.00 0.10 X 15950 0 0 SUSAN S REEVES TRUSTEE 12.00 0.20 X 28031 0 0 JOHN H WHITEHEAD Jr TRUSTEE-TREASURER 12.00 0.00 X X 30903 0 0 JAMES D WILSON TRUSTEE 8.00 0.00 X 25555 0 0 RICHARD K DAVIS GENERAL MANAGERCEO 45.00 0.00 X 435256 0 119260 SANFORD M MAXWELL DIRECTOR-FINANCEADMINISTRATI 41.00 0.00 X 193913 0 85574 HERMAN DYAL DIRECTOR-ENGINEERING 42.00 0.00 X 207746 0 78915 HOWARD M MOTT Jr DIRECTOR-OPERATIONS 45.00 0.00 X 193298 0 80428 LOUIE A CHAFF DISTRICT MANAGER-ORANGE PARK 40.00 0.00 X 158292 0 114205 JAMES R BEELER JR DISTRICT MANAGER-PALATKASALT 40.00 0.00 X 159435 0 85313 DALE R FURLONG DISTRICT MANAGER-KEYSTONE 40.00 0.00 X 142604 0 63053 TROY ADAMS DISTRICT MANAGER-LCGV 44.00 0.00 X 138901 0 115977 BRUCE R MCHOLLAN DIRECTOR-INFOCOMM TECHNOLOGY 45.00 0.00 X 190365 0 189220 RICHARD A GRAY DIRECTOR-HUMAN RESOURCES 40.00 0.00 X 172517 0 57747 DERICK R THOMAS DIRECTOR-MEMBER & PUBLIC RELA 40.00 0.00 X 160029 0 73318 CHERYL B ROGERS DIRECTOR-INTERNAL AUDIT 45.00 0.00 X 134705 0 37776 DANIEL B GUNTER DIVISION CHIEF-SUBSTATION 40.00 0.00 X 137035 0 46117 2617481 0 1146903 57 false true false SCHERER CONSTRUCTION OF N FL LLC 2504 NW 71ST PLACE Gainesville FL 32653 CONSTRUCTION 6681088 ASPLUNDH TREE EXPERT CO PO BOX 532729 Atlanta GA 30353 RW LABOR 3587574 BAIRD TREE COMPANY INC PO BOX 326 Caryville TN 37714 RW LABOR 1245203 HIGH COTTON USA INC PO BOX 101568 Birmingham AL 35210 PSTGPRNTMAIL SVC 1125286 PARRISH MCCALL CONSTRUCTORS INC 3455 SW 42ND AVE Gainesville FL 32608 CONSTRUCTION 787936 21 ELECTRIC 221000 359519651 359242733 276918 QUALIFIED POLE RENTAL 531390 2844799 2844799 PATRONAGE CAPITAL 900099 8955720 8955720 INTEREST 900099 306094 306094 MERCHANDISING REVENUE 900099 14778 14778 371641042 307673 307673 31500 5817 25683 25683 25683 5000 14776 -9776 -9776 -9776 GAIN-RUS DEBT PREPAYMNT 900099 172596 172596 MOTOR VEHICLE PROGRAM 811000 123250 123250 SANDERSON PIPE 900099 45708 45708 21557 21557 363111 372327733 368999594 483340 2844799 22695666 22695666 2565555 2565555 3674979 3674979 193012 193012 12673345 12673345 20447431 20447431 COST OF POWER 259236265 259236265 DISTRIBUTION EXPENSE 25930981 25930981 CONSUMER ACCOUNTS EXPENSE 13426297 13426297 ADMINISTRATIVE & GENERAL EXP 3449477 3449477 8034725 8034725 372327733 372327733 0 0 31195767 15226410 27191033 20426164 4625837 4705392 51001394 62901835 662940630 225378658 423657335 437561972 74771488 82245839 612442854 623067612 34481126 32568457 237981843 233498886 17136303 18854510 289599272 284921853 X 703170 713210 322140412 337432549 322843582 338145759 612442854 623067612 X 0 15302177 X false true X true false 622801 10034890 10657691 507420 19192110 8225942 11473588 605776513 217150067 388626446 26806896 2649 26804247 437561972 NATIONAL RURAL UTILITIES COOP 10744942 C SEMINOLE ELECTRIC COOPERATIVE 66694725 C COBANK 3346776 C OTHER INVESTMENTS IN ASSOC ORGS 1459396 C 82245839 OTHER NON-CURRENT LIABILITIES 6166243 CONSUMER DEPOSITS 12688267 18854510 X 371876512 371876512 451221 451221 372327733 349180846 349180846 23146887 23146887 372327733 Other revenues included on Form 990 (Part XI, line 4b) Product and unrelated business expenses were netted against associated revenues and identified as other non-operating income in the audited financial statements. Revenues included in that audit report line are reflected on Part VIII Statement of Revenue as merchandising, rental and miscellaneous revenue.The amortization of a gain on debt prepayment is reported as an offset to interest expense in the audited financial statements, as required by generally accepted accounting principles. The amount recognized in the audited financial statements is reported on Part VIII-Statement of Revenue as miscellaneous revenue related to the exempt function. Other expenses included on Form 990 (Part XII, line 4b) Product and unrelated business expenses were netted against associated revenues and identified as other non-operating income in the audited financial statements. Revenues included in that audit report line are reflected on Part VIII Statement of Revenue as merchandising, rental and miscellaneous revenue.The amortization of a gain on debt prepayment is reported as an offset to interest expense in the audited financial statements, as required by generally accepted accounting principles. The amount recongized in the audited financial statements is reported on Part VIII-Statement of Revenue as miscellaneous revenue related to the exempt function. The Cooperatives audited 2015 net margins of $22,695,666 are reflected as an expense in the Form 990 as Benefits Paid to or for Members. Net margins are allocated and distributed to members based on patronage. Footnote for uncertain tax position under FIN 48 (Part X) Management has evaluated the Cooperatives tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. X X X false true false RICHARD K DAVIS GENERAL MANAGERCEO 402430 25000 7826 90120 29140 554516 SANFORD M MAXWELL DIRECTOR-FINANCEADMINISTRATION 182445 11468 70435 15139 279487 HERMAN DYAL DIRECTOR-ENGINEERING 201294 6452 60698 18217 286661 HOWARD M MOTT Jr DIRECTOR-OPERATIONS 185185 8113 62432 17996 273726 LOUIE A CHAFF DISTRICT MANAGER-ORANGE PARK 152640 5652 101099 13106 272497 JAMES R BEELER JR DISTRICT MANAGER-PALATKASALT SPGS 151107 8328 69723 15590 244748 BRUCE R MCHOLLAN DIRECTOR-INFOCOMM TECHNOLOGY 186409 3956 183593 5627 379585 RICHARD A GRAY DIRECTOR-HUMAN RESOURCES 167995 4522 51899 5848 230264 DERICK R THOMAS DIRECTOR-MEMBER & PUBLIC RELATIONS 156588 3441 59174 14144 233347 DALE R FURLONG DISTRICT MANAGER-KEYSTONE 135832 6772 44603 18450 205657 CHERYL B ROGERS DIRECTOR-INTERNAL AUDIT 133390 1315 26292 11484 172481 TROY ADAMS DISTRICT MANAGER-LCGV 126605 12296 103109 12868 254878 DANIEL B GUNTER DIVISION CHIEF-SUBSTATION 130723 6312 33962 12155 183152 Listed persons compensation information (Part I, line 4) The organization has agreed on a year to year basis to calculate the value of the difference in the defined benefit plan for the General Manager/CEO in a lump sum form, under the current guidelines of the defined benefit administrator, one with IRS limitations and one without limitations, any positive value will be paid as a taxable payment, in the current year. Richard Davis received $30,447 during 2015. SEMINOLE ELECTRIC COOPERATIVE POWER SUPPLIER 268461325 SEE ATTACHED false SEMINOLE ELECTRIC COOPERATIVE FRCC MEMBER -132582 DUES REIMBURSEMENT false SEMINOLE ELECTRIC COOPERATIVE CONTRACTOR -12854 SEE ATTACHED false SEMINOLE ELECTRIC COOPERATIVE CUSTOMER -6728 SEE ATTACHED false Supplemental Information for Schedule L Seminole Electric Cooperative, Inc. is the wholesale power provider from which Clay Electric Cooperative, Inc. purchases its power. Clay Electric is also a cooperative member of Seminole Electric. The Board of Seminole Electric is comprised of the manager and two board members from each of the member electric distribution cooperatives. Currently, Richard Davis, General Manager & CEO, and Susan Reeves and John Whitehead, Trustees, serve as representatives from Clay Electric to the Seminole Electric board of trustees. Although it is routine for board members of electric distribution cooperatives to serve as representatives on the boards of electric transmission cooperatives, for the purposes of the Form 990 Susan Reeves and John Whitehead are not considered independent. Unrelated business income explanation Part V line 3b Form 990T is scheduled to be signed and filed on October 31, 2016. Members or stockholder classes and rights Part VI line 6 Clay Electric Cooperative, Inc. had 142,642 members as of December 31, 2015. Member election for additional members Part VI line 7a Clay Electric Cooperative, Inc. had nine members on the Board of Trustees at the end of the year. The Board of Trustee members serve three-year terms and each board member represents one trustee district within the cooperatives service area. Their terms are staggered in such a way that only three are up for election by the members each year. Governing body decisions Part VI line 7b The business and affairs of the cooperative are managed by a Board of Trustees which shall exercise all the powers of the cooperative except such as by law, the articles of incorporation or the bylaws. If an amendment of the bylaws is proposed by the Board of Trustees the amendment must be presented to the membership. Form 990 governing body review Part VI line 11 The top financial official presented paper copies of the 2015 Form 990 to the Board of Trustees for their review at their monthly board meeting on September 22, 2016. Conflict of interest policy compliance Part VI line 12c It is a requirement that incumbents of certain positions within the Cooperative and the Board of Trustees annually complete and sign the Conflict of Interest Certification and Disclosure Form and deliver it to the General Manager/CEO or Board President. CEO executive director top management comp Part VI line 15a Comparability data was used to determine the compensation for the CEO and was approved by the Board of Trustees. Board meeting minutes document the deliberations and decisions on the compensation arrangement. Board meeting minutes on November 19, 2015 reflect a performance appraisal and compensation review for the CEO. Other officer or key employee compensation Part VI line 15b Comparability data was used to evaluate the compensation for the other officers and key employees. Governing documents etc available to public Part VI line 19 The governing documents (included in the Member Handbook), financial statements (included in the Kilowatt Newsletter) and conflict of interest policy are made available to the general public on the website at www.clayelectric.com. Explanation of other changes in net assets or fund balances Part XI line 9 Capital credits assigned for the year were $22,695,666 less net retirements of capital credits of $5,251,134 plus an increase in memberships of $10,040 less the change in accumulated other comprehensive income of $2,152,395. General explanation attachment PART IX-STATEMENT OF FUNCTIONAL EXPENSES:The Cooperatives records are maintained in accordance with the uniform system of accounts prescribed by the Federal Energy Regulatory Commission (18CFR.PART 101) as modified and adopted by the Rural Utilities Service (RUS) in 7.CFR.1767. Those practices utilize the allocation of certain expenses based on labor charges or other allocation bases. As a result, it would require significant effort to break out expenses in the functional categories provided on the Statement of Functional Expenses. Management has opted to classify its expenses on the Statement of Functional Expenses in the same manner it reports its financial results to lenders, regulators and members. CLAY ELECTRIC COOPERATIVE SCHOLARSHIP TRUST INC PO BOX 308 Keystone Heights FL 326560308 576205431 PROVIDE SCHOLARSHIPS FL 501c3 9 CLAY ELECTRIC COOPERATIVE INC true CLAY ELECTRIC SERVICES INC PO BOX 308 Keystone Heights FL 326560308 591613094 PROVIDE MISC BUSINESS SVCS FL CLAY ELECTRIC COOPERATIVE INC C Corp 1.00000 true false false false false false false false false false false false false false false false false false false true CLAY ELECTRIC SCHOLARSHIP TRUST INC s 104000 Cash Value