2025-10-28T10:48:54-05:00 2024-12-31 390859910 BAKER TILLY LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2024-01-01 620517180 TWIN LAKES TELEPHONE COOPERATIVE CORP TWIN 9318582151 PO BOX 67 GAINESBORO TN 38562 JOANNA WILLIAMS CHIEF FINANCIAL OFFICER 9318582151 2025-10-21 1 1 CHERI R BURNHAM P00055324 5097472600 2025-10-20 2024 2025-03-06 01:10:19Z JONATHAN WEST PO BOX 67 GAINESBORO TN 38562 78655039 0 X WWW.TWINLAKES.COOP X 1951 TN TO PROVIDE TELECOMMUNICATION SERVICES TO COOPERATIVE MEMBERS IN RURAL AREAS. 11 11 134 0 0 0 0 0 65378454 68786345 1973495 2457136 3163362 3023827 70515311 74267308 0 0 12475373 16850471 4591914 4426377 0 0 0 50210378 49966633 67277665 71243481 3237646 3023827 217571384 226682816 52337032 51963137 165234352 174719679 IT SHALL BE THE AIM OF TWIN LAKES TELEPHONE COOPERATIVE CORPORATION TO PROVIDE DEPENDABLE AREA WIDE TELEPHONE SERVICE ON THE COOPERATIVE PLAN AND AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 0 0 TWIN LAKES TELEPHONE COOPERATIVE CORP. PROVIDED A VARIETY OF TELECOMMUNICATION SERVICES TO ITS MEMBERS WHO WERE LOCATED IN ITS SERVICE AREA. THESE SERVICES INCLUDED TELEPHONE SERVICE, INTERNET ACCESS, HIGH SPEED DATA SERVICES, SPECIAL CALLING FEATURES, AND VOICE MAIL. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 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 1 0 1 170 0 1 134 1 0 0 0 0 0 35990674 5655000 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X JOANNA WILLIAMS 9312682151 1003 S GRUNDY QUARLES HWY GAINESBORO TN 38562 LARRY J STAFFORD DIRECTOR 18.00 X 29482 0 0 DOUGLAS G ELDER DIRECTOR/VICE-PRESIDENT 18.00 X X 29482 0 0 GREGORY H BROWN DIRECTOR 18.00 X 28682 0 0 KENT J BROWN DIRECTOR/SECRETARY/TREASURER 15.00 X X 17693 0 0 MARIE CARLISLE DIRECTOR 18.00 X 22328 0 0 KEM W CROUCH DIRECTOR 16.00 X 37150 0 0 GARY E FLYNN DIRECTOR 16.00 X 26711 0 0 GAIL MYERS DIRECTOR/PRESIDENT 20.00 X X 32665 0 0 JAMES D STORIE DIRECTOR 18.00 X 24728 0 0 KAREN PETTY DIRECTOR 15.00 X 32640 0 0 CHRIS FARMER DIRECTOR 20.00 X 38334 0 0 JONATHAN WEST GENERAL MANAGER/CEO 63.25 X 507878 0 49542 JOANNA WILLIAMS CHIEF FINANCIAL OFFICER 57.50 X 164085 0 41100 CHAD R DILLON CHIEF OPERATION OFFICER 57.50 X 192878 0 26257 CHARLES SHANE HEUPEL CHIEF TECHNOLOGY OFFICER 57.50 X 163246 0 36537 JAMIE MEADOWS CUSTOMER SERVICE MANAGER 57.50 X 136443 0 39560 LAURA GORE MARKETING & SALES MANAGER 55.78 X 144915 0 28209 MELISSA PHILLIPS HUMAN AND OFFICE RESOURCES MANAGER 46.00 X 129413 0 19246 1758753 0 240451 40 0 1 0 RED STAG CONTRACTORS LLC 358 5TH AVENUE S BAXTER TN 38544 CONSTRUCTION 11580493 LADD ENGINEERING ASSOCIATES INC PO BOX 680747 FORT PAYNE AL 359680747 CONSULTING/ENGINEERING 1411339 KING CONSTRUCTION GROUP INC 3307 BURGESS FALLS RD COOKEVILLE TN 38406 CONSTRUCTION 1241602 W A KENDALL & COMPANY LLC PO BOX 831 LAWRENCEVILLE GA 30046 RIGHT OF WAY 1034232 MCCORMICK RIDGE CONSTRUCTION 251 WM REECER RD MOSS TN 38575 CONSTRUCTION 763565 21 WIRELINE 517000 37903911 37903911 BROADBAND 517000 27160082 27160082 MISCELLANEOUS 517000 3611355 3611355 POLE RENTAL 517000 110997 110997 68786345 2536676 2536676 4308191 4387731 -79540 -79540 -79540 SUBSIDIARY INCOME 517000 2648025 2648025 INCOME - T.I.T.G 517000 374858 374858 PASSTHROUGH INVESTMENT 900099 944 944 3023827 74267308 71699175 0 2568133 16850471 1210661 3215716 378487 1074842 15479023 BROADBAND 15081362 PLANT SPECIFIC 10588201 PLANT NONSPECIFIC 3202707 CUSTOMER 3084429 1077582 71243481 21639779 26186983 11093595 12846691 10033405 14129052 6360010 13585892 6254693 3151388 949575 714220 218520820 120840651 103872387 97680169 14370150 22189612 408798 754079 22705867 25220930 3956797 3956797 15926328 6267003 217571384 226682816 4834554 7345243 954690 835512 41402182 38481349 5145606 5301033 52337032 51963137 X 921420 923780 0 0 164312932 173795899 165234352 174719679 217571384 226682816 X 3023827 953304 5508196 X 0 1 X 1 0 1912726 1912726 13722769 6022680 7700089 202885325 114817971 88067354 97680169 INVESTMENT IN AFFILIATED COMPANIES 25220930 C 25220930 CUSTOMER DEPOSITS 5297485 LEASE LIABILITY 3548 5301033 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AS MORE THAN 85% OF ITS REVENUE COMES FROM MEMBERS. THE SUBSIDIARIES ARE TAXABLE ENTITIES UNDER THE FEDERAL AND TENNESSEE STATE TAX CODES. DEFERRED TAXES ARE PROVIDED ON A LIABILITY METHOD WHEREBY DEFERRED TAX ASSETS ARE RECOGNIZED FOR DEDUCTIBLE TEMPORARY DIFFERENCES AND DEFERRED TAX LIABILITIES ARE RECOGNIZED FOR TAXABLE TEMPORARY DIFFERENCES. TEMPORARY DIFFERENCES ARE THE DIFFERENCES BETWEEN THE REPORTED AMOUNTS OF ASSETS AND LIABILITIES AND THEIR TAX BASES. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE WHEN, IN THE OPINION OF MANAGEMENT, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. DEFERRED TAX ASSETS AND LIABILITIES ARE ADJUSTED FOR THE EFFECTS OF CHANGES IN TAX LAWS AND RATES ON THE DATE OF ENACTMENT. THE COOPERATIVE RECORDS UNCERTAIN TAX POSITIONS IF THE LIKELIHOOD THE POSITION WILL BE SUSTAINED UPON EXAMINATION IS LESS THAN 50%. AS OF DECEMBER 31, 2024 AND 2023, THE COOPERATIVE HAD NO ACCRUED AMOUNTS RELATED TO UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE RECORDED AS INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY. X X X 0 0 0 JONATHAN WEST GENERAL MANAGER/CEO 411777 0 91928 0 4173 0 20855 0 28687 0 557420 0 0 0 CHAD R DILLON CHIEF OPERATION OFFICER 170474 0 17111 0 5293 0 14060 0 12197 0 219135 0 0 0 JOANNA WILLIAMS CHIEF FINANCIAL OFFICER 149264 0 14662 0 159 0 13029 0 28071 0 205185 0 0 0 CHARLES SHANE HEUPEL CHIEF TECHNOLOGY OFFICER 143705 0 14829 0 4712 0 8301 0 28236 0 199783 0 0 0 JAMIE MEADOWS CUSTOMER SERVICE MANAGER 122954 0 13235 0 254 0 11448 0 28112 0 176003 0 0 0 LAURA GORE MARKETING & SALES MANAGER 131811 0 12965 0 139 0 9010 0 19199 0 173124 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 TWIN LAKES TELEPHONE COOPERATIVE CORP. IS A NOT-FOR-PROFIT MEMBERSHIP ORGANIZATION WHOSE MEMBERS HAVE IDENTICAL VOTING RIGHTS AND ARE ASSIGNED MARGINS IN ACCORDANCE WITH THE COOPERATIVE'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A EACH YEAR, THE MEMBERS ELECT THE GOVERNING BODY (BOARD OF DIRECTORS) AT THE ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP MUST APPROVE DECISIONS THAT INVOLVE SUBSTANTIAL TRANSFERS OF COOPERATIVE ASSETS, AMENDMENTS TO THE COOPERATIVE'S BYLAWS, AS WELL AS OTHER DECISIONS REQUIRING APPROVAL OF THE MEMBERSHIP BY LAW, THE CHARTER OF INCORPORATION, AND/OR THE COOPERATIVE'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER/CEO AND CHIEF FINANCIAL OFFICER REVIEWED A COMPLETED COPY OF THE FORM 990 BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE. A COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS AT A BOARD MEETING PRIOR TO IT BEING FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE GENERAL MANAGER/CEO IS RESPONSIBLE FOR MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY. IF A CONFLICT OF INTEREST WERE TO ARISE, IT MUST BE IMMEDIATELY REPORTED TO THE GENERAL MANAGER/CEO. THE CONFLICTING PARTY ABSTAINS FROM VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THE PERFORMANCE OF MANAGEMENT EMPLOYEES ON AN ANNUAL BASIS AND DETERMINES THE COMPENSATION FOR THOSE EMPLOYEES FOR THE COMING YEAR. DATA FROM THE NTCA YEARLY COMPENSATION SURVEY IS CONSIDERED BY THE BOARD WHEN DETERMINING EMPLOYEE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND POLICIES ARE PROVIDED WITH THE MEMBERSHIP CERTIFICATE. FINANCIAL STATEMENTS ARE INCLUDED IN PRINT FORM AS AN INSERT IN TELEPHONE BILLS. ALL DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIPS 2,360. OTHER COMPREHENSIVE INCOME -11,235,871. NET MARGINS ASSIGNED TO MEMBERS 16,850,471. BOOK TO TAX ADJUSTMENT FOR PASSTHROUGH ENTITY -108,764. FOURSIGHT COMMUNICATIONS LLC DBA TRILIGHT PO BOX 2748 COOKEVILLE TN 38502 824975758 TELECOMMUNICATIONS TN N/A 0 0 TWIN LAKES COMMUNICATIONS INC PO BOX 696 GAINSBORO TN 38562 481279798 TELECOMMUNICATIONS TN TWIN LAKES TELEPHONE COOPERATIVE CORPORATION C 21528426 36572165 1.00000 1 ONWAV INC PO BOX 67 GAINSBORO TN 38562 208560825 WIRELESS COMMUNICATIONS TN TWIN LAKES TELEPHONE COOPERATIVE CORPORATION C 2874907 17300950 1.00000 1 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 1 1 0 TWIN LAKES COMMUNICATIONS INC D 5176732 FAIR MARKET VALUE ONWAV INC D 7048822 FAIR MARKET VALUE TWIN LAKES COMMUNICATIONS INC R 6732252 FAIR MARKET VALUE TWIN LAKES COMMUNICATIONS INC Q 1336125 FAIR MARKET VALUE TWIN LAKES COMMUNICATIONS INC J 63460 FAIR MARKET VALUE ONWAV INC F 400000 FAIR MARKET VALUE