2025-11-13T09:59:52-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 480499309 THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION INC VICT 6202272139 PO BOX 1335 DODGE CITY KS 678011335 SHANE LAWS CEO 6202272139 2025-11-09 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-09 X 2024 2025-03-06 01:10:19Z SHANE LAWS PO BOX 1335 DODGE CITY KS 678011335 74944417 0 X WWW.VICTORYELECTRIC.NET X 1945 KS TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 11 11 80 0 0 0 0 0 71744215 74528413 576285 329245 63916 70166 72384416 74927824 80374 72624 5674137 6029940 7373441 7542298 0 0 0 58683017 60973582 71810969 74618444 573447 309380 190296293 192313303 108409666 105223533 81886627 87089770 TO PROVIDE A SAFE, RELIABLE SERVICE AT A COMPETITIVE RATE, PROVIDE ECONOMIC DEVELOPMENT OPPORTUNITIES AND SERVICES FOR OUR MEMBERS, AND ENSURE THE FINANCIAL STABILITY OF THE COOPERATIVE THROUGH THE USE OF PRUDENT BUSINESS PRACTICES AND THE LATEST TECHNOLOGY. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 20,568 ACTIVE SERVICES AT YEAR END. 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 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 41 0 80 1 0 0 0 0 0 75118582 1593886 0 0 0 X 11 11 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X ANGELA UNRUH CFO 6202272139 3230 N 14TH AVE DODGE CITY KS 67801 X KENNY WEHKAMP TRUSTEE 10.00 X 25780 0 0 JOHN LEIS TRUSTEE 5.00 X 31545 0 0 JIM IMEL TRUSTEE 7.00 X 26855 0 0 PATRICK MORSE TRUSTEE 5.00 X 29980 0 0 KENNETH SCHULTE TRUSTEE 4.00 X 5935 0 0 JAMES DARYL TIEBEN PRESIDENT 6.30 X X 29080 0 0 CEDRIC DREWES VICE PRESIDENT 8.00 X X 40278 0 0 RANDY QUINT TRUSTEE 4.50 X 26680 0 0 TERRI LARSON SECRETARY-TREASURER 7.00 X X 26080 0 0 JAMES L OCHS TRUSTEE 7.00 X 36078 0 0 MEGAN EVANS TRUSTEE 7.00 X 34560 0 0 ANTHONY S LAWS CEO 60.00 X 404651 0 155083 ANGELA K UNRUH CFO 48.00 X 205333 0 86048 DENZIL MCGILL CIO 45.00 X 189012 0 105380 RYAN MILLER VP OF OPERATIONS 48.00 X 160771 0 129270 AMY GRASSER VP OF CORPORATE SERVICES/HR 45.00 X 154190 0 67372 ROB HENRY VP OF ENGINEERING 50.00 X 148362 0 72207 TED MCATEE JOURNEYMAN LINEMAN 53.10 X 149468 0 90129 JESUS RUIZ JOURNEYMAN LINEMAN 49.20 X 143017 0 57821 PATRICK DEAVER JOURNEYMAN LINEMAN 45.40 X 132499 0 83842 ROSS ACKERMAN JOURNEYMAN LINEMAN 46.60 X 132049 0 62113 2132203 0 909265 39 0 1 0 ELECTRICOMM INC PO BOX 8324 TOPEKA KS 66608 OIL SITE SAMPLES, SITE SURVEYS, ENGINEER 2108067 PENNICK SERVICES INC 23903 12 RD MONTEZUMA KS 67867 DIRECTIONAL DRILLING SERVICES 534079 NISC PO BOX 1147 MANDAN ND 58554 BILLING & SOFTWARE SERVICES 390585 KANSAS ELECTRIC COOPERATIVE PO BOX 4267 TOPEKA KS 66604 ASSESSMENTS, SUBSCRIPTION DUES, SAFETY M 289942 GWALTNEY INCDIAMOND ROOFING PO BOX 37 DODGE CITY KS 67801 ROOF REPLACEMENT 234224 6 X SALES OF ELECTRICITY 221000 71308841 71308841 PATRONAGE DIVIDENDS 221000 2810414 2810414 TRANSMISSION/WHEELING 221000 208402 208402 SERVICE FEES 221000 200756 200756 74528413 282310 282310 4747 0 4747 4747 4747 48080 1145 46935 46935 46935 6151 15448 -9297 -9297 POLE ATTACHMENT INCOME 221000 74716 74716 74716 74927824 74570798 0 357026 X 62624 10000 6029940 1969961 3577890 763871 928046 302530 3565511 5911876 PURCHASED POWER 45657760 DISTRIBUTION EXPENSE 2819986 ADMIN & GENERAL EXPENSE 1700243 TRANSMISSION EXPENSE 539848 778358 74618444 4534386 2002059 2265137 466873 7666372 6511981 4156 722 4751952 5588613 1305831 1140019 206747274 72830091 128978105 133917183 40770531 42665228 19823 20625 190296293 192313303 6267467 6057856 97405993 94624138 4736206 4541539 108409666 105223533 X 0 0 0 0 81886627 87089770 81886627 87089770 190296293 192313303 X 309380 4893763 X X 0 1 X 0 0 801275 801275 8928997 2553359 6375638 181445269 63527594 117917675 15571733 6749138 8822595 133917183 CFC MEMBER CAPITAL SECURITIES 100000 C CFC CAPITAL TERM CERTIFICATES 305839 C PATRONAGE CAPITAL - COBANK 405347 C PATRONAGE CAPITAL - NRUCFC 278268 C PATRONAGE CAPITAL - NISC 159092 C PATRONAGE CAPITAL - KEPCO 5446418 C PATRONAGE CAPITAL - SEPCO 34331566 C PATRONAGE CAPITAL - OTHER 506855 C CONTRIBUTED CAPITAL - SEPCO 1131843 C 42665228 CONSUMER DEPOSITS 1567827 ACCRUED OPERATING TAXES & FEES 1533735 DEFERRED CREDITS 1439977 4541539 X 74917257 0 74917257 10567 10567 74927824 68577937 0 68577937 6040507 6040507 74618444 PART X, LINE 2: THE COOPERATIVE UTILIZES THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: GENERATOR EXPENSES 10,567. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 6,029,940. RECLASS OF GENERATOR EXPENSES 10,567. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE 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. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS. 1 VFW POST 1714 909 13TH AVENUE DODGE CITY KS 67801 480514856 501(C)(19) 10000 0 COBANK SHARING SUCCESS GRANT DODGE CITY AREA CHAMBER OF COMMERCE PO BOX 939 DODGE CITY KS 67801 480198165 501(C)(6) 5539 0 ANNUAL MEMBERSHIP, STATE OF THE CITY ADDRESS, ANNUAL GOLF TOURNAMENT, DODGE CITY DAYS HAMBURGER FEED DODGE CITY-FORD COUNTY DEVELOPMENT CORPORATION PO BOX 818 DODGE CITY KS 67801 480990726 501(C)(6) 5500 0 ANNUAL PLEDGE, YOUTH ENTREPRENEURSHIP COMPETITION USD 459 BUCKLIN PO BOX 8 BUCKLIN KS 67834 480721243 GOVERNMENT 5409 0 FOOTBALL FIELD UPGRADES 1 3 SECONDARY EDUCATION SCHOLARSHIPS FOR COOPERATIVE MEMBERS AND/OR THEIR DEPENDENTS. 10 10000 CASH RECEIVED PART I, LINE 2: SCHOLARSHIPS FOR SECONDARY EDUCATION ARE AWARDED ANNUALLY TO ASSIST QUALIFIED INDIVIDUALS IN FURTHERING THEIR EDUCATION. TO BE ELIGIBLE A CANDIDATE OR CANDIDATE'S PARENTS OR LEGAL GUARDIAN MUST BE AN ACTIVE MEMBER OF THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION. APPLICANT MUST ENROLL OR BE ENROLLED AT AN ACCREDITED EDUCATIONAL OR TRAINING INSTITUTION AND HAVE A GPA OF 3.5 OR BETTER. 10 SCHOLARSHIPS ARE AWARDED BY AN INDEPENDENT SCHOLARSHIP COMMITTEE AND ARE BASED ON A SCHOLARSHIP APPLICATION PROCESS. PART II: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X X X 0 0 0 ANTHONY S LAWS CEO 401131 0 0 0 3520 0 116892 0 38191 0 559734 0 0 0 DENZIL MCGILL CIO 186212 0 0 0 2800 0 71331 0 34049 0 294392 0 0 0 ANGELA K UNRUH CFO 199852 0 0 0 5481 0 50438 0 35610 0 291381 0 0 0 RYAN MILLER VP OF OPERATIONS 155905 0 0 0 4866 0 93522 0 35748 0 290041 0 0 0 TED MCATEE JOURNEYMAN LINEMAN 148158 0 0 0 1310 0 55200 0 34929 0 239597 0 0 0 AMY GRASSER VP OF CORPORATE SERVICES/HR 150643 0 0 0 3547 0 33034 0 34338 0 221562 0 0 0 ROB HENRY VP OF ENGINEERING 144622 0 0 0 3740 0 38947 0 33260 0 220569 0 0 0 PATRICK DEAVER JOURNEYMAN LINEMAN 130752 0 0 0 1747 0 61644 0 22198 0 216341 0 0 0 JESUS RUIZ JOURNEYMAN LINEMAN 142322 0 0 0 695 0 21919 0 35902 0 200838 0 0 0 ROSS ACKERMAN JOURNEYMAN LINEMAN 131428 0 0 0 621 0 23405 0 38708 0 194162 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, YEARS OF SERVICE, AND THE CURRENT INTEREST RATE ENVIRONMENT. 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. ANTHONY S. LAWS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 92,742 EMPLOYER CONTRIBUTION TO 401(K) PLAN 24,150 TOTAL REPORTED IN COLUMN C $ 116,892 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (92,742) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 100,223 EXPENSE TO THE COOPERATIVE $ 124,373 DENZIL MCGILL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,182 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,149 TOTAL REPORTED IN COLUMN C $ 71,331 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,182) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,761 EXPENSE TO THE COOPERATIVE $ 66,910 ANGELA UNRUH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,231 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,207 TOTAL REPORTED IN COLUMN C $ 50,438 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,231) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,155 EXPENSE TO THE COOPERATIVE $ 72,362 RYAN MILLER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 82,528 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,997 TOTAL REPORTED IN COLUMN C $ 93,522 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (82,528) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,002 EXPENSE TO THE COOPERATIVE $ 55,996 TED MCATEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,497 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,703 TOTAL REPORTED IN COLUMN C $ 55,200 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,497) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,195 EXPENSE TO THE COOPERATIVE $ 30,898 AMY GRASSER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,305 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,729 TOTAL REPORTED IN COLUMN C $ 33,034 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,305) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,151 EXPENSE TO THE COOPERATIVE $ 51,880 ROB HENRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,298 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,649 TOTAL REPORTED IN COLUMN C $ 38,947 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,298) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,499 EXPENSE TO THE COOPERATIVE $ 51,148 PATRICK DEAVER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,270 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,374 TOTAL REPORTED IN COLUMN C $ 61,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,270) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,616 EXPENSE TO THE COOPERATIVE $ 33,990 JESUS RUIZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,826 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,093 TOTAL REPORTED IN COLUMN C $ 21,919 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,826) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,195 EXPENSE TO THE COOPERATIVE $ 31,288 ROSS ACKERMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,031 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,374 TOTAL REPORTED IN COLUMN C $ 23,405 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,031) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,616 EXPENSE TO THE COOPERATIVE $ 33,990 EVANN DREWES FAMILY RELATIONSHIP - EMPLOYEE OFFICER (C. DREWES) 1000 SCHOLARSHIP SECONDARY EDUCATION FORM 990, PART IV, LINE 27: SECONDARY EDUCATION SCHOLARSHIPS ARE AWARDED ANNUALLY TO ASSIST QUALIFIED INDIVIDUALS IN FURTHERING THEIR EDUCATION. TO BE ELIGIBLE A CANDIDATE OR CANDIDATE'S PARENTS OR LEGAL GUARDIAN MUST BE AN ACTIVE MEMBER OF THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION. APPLICANT MUST ENROLL OR BE ENROLLED AT AN ACCREDITED EDUCATIONAL OR TRAINING INSTITUTION AND HAVE GPA OF 3.5 OR BETTER. SCHOLARSHIP RECIPIENTS ARE DECIDED BY AN INDEPENDENT SCHOLARSHIP COMMITTEE AND CHOSEN THROUGH A SCHOLARSHIP APPLICATION PROCESS. DURING THE YEAR, EMPLOYEE OFFICER CEDRIC DREWES DAUGHTER, EVANN DREWES, WENT THROUGH THE APPLICATION PROCESS AND WAS SELECTED BY THE SCHOLARSHIP COMMITTEE. FORM 990, PART VI, SECTION A, LINE 1A THE COOPERATIVE HAS 11 BOARD MEMBERS; ALL 11 ARE ALLOWED TO VOTE, HOWEVER, THE BOARD PRESIDENT VOTES ONLY IN THE CASE OF A TIE SHOULD ALL MEMBERS OF THE BOARD NOT BE PRESENT AT ANY GIVEN MEETING. FORM 990, PART VI, SECTION A, LINE 2 A BUSINESS RELATIONSHIP EXISTS BETWEEN KENNY WEHKAMP (TRUSTEE) AND SHANE LAWS (CEO). BOTH INDIVIDUALS SERVE ON THE BOARD OF SUNFLOWER ELECTRIC POWER CORPORATION AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. ANGELA UNRUH (CFO) AND CEDRIC DREWES (TRUSTEE) SERVE AS ALTERNATES FOR THESE POSITIONS ON SUNFLOWER'S BOARD. 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 PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF TRUSTEES AS SOON AS POSSIBLE. THE CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES USE THE EXPERTISE OF AN INDEPENDENT COMPENSATION CONSULTANT AND A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE CEO. THE BOARD AND THE CEO USE THE EXPERTISE OF AN INDEPENDENT COMPENSATION CONSULTANT AND A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICERS AND KEY EMPLOYEES, IF ANY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE PROVIDES A COPY OF THE BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE ANNUAL REPORT AND BYLAWS CAN BE FOUND ON THE COOPERATIVE'S WEBSITE. 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, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF 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 VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST TO 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 RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RUS ELECTRIC BORROWERS. 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, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 3,055,144 TRAINING 100,873 OFFICE SUPPLIES 337,611 OUTSIDE SERVICES 166,971 INSURANCE 119,973 EMPLOYEE ACTIVITIES 22,980 TRUSTEES 371,271 MISCELLANEOUS GENERAL 519,288 MAINTENANCE OF GENERAL PLANT 214,240 REGULATORY COMMISSION 1,324 MEMBER MEETING 97,045 ADVERTISING 17,052 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 5,023,772 LESS: RECLASS OF SCHOLARSHIPS TO PART IX, LINE 2 (10,000) LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (312,851) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,947,414) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,053,264) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,700,243 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 $ 5,547,851 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (312,851) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (543,153) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 3,037,775 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 353,777 TOTAL WAGES ACCRUED AND/OR PAID $ 8,083,399 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. ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S 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 IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CUSTOMER ACCOUNTS $ 472,982 CUSTOMER SERVICE AND INFORMATION 215,883 GENERATOR EXPENSE 10,567 SALES EXPENSE 78,709 OTHER DEDUCTIONS 217 TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 778,358 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 6,029,940. PATRONAGE CAPITAL RETIRED - TOTAL -1,321,254. PATRONAGE CAPITAL RETIRED - DISCOUNT 185,077. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR REVIEWING, OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR.