2014-11-11T16:39:34-08:00 2013-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2013-01-01 540322350 NORTHERN NECK ELECTRIC COOPERATIVE NORT 8043333621 PO BOX 288 WARSAW VA 22572 GREG WHITE President & CEO 2014-11-11 true G STEVEN GILLIAM CPA P00348264 8043231313 2013 2015-11-30 17:44:51Z Gregory W White 85 St Johns Street Warsaw VA 22572 35263605 false false X www.nnec.coop X 1937 VA Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of the cooperative 7 6 58 20012 15587 0 32369596 33797223 55478 385022 1863115 1073623 34288189 35255868 0 767846 1578071 5636325 5721191 0 0 26453919 27041626 32858090 34340888 1430099 914980 77869729 81049188 42049654 43395871 35820075 37653317 Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of the cooperative false false SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY to the members of the cooperative. The three largest program services as measured by expenses were as follows:Cost of Power $20,090,557Salaries and wages $ 3,644,615Depreciation $ 4,316,286 false false false false false false false false false false true false true false true false true false false false false false false false false false false false false true false false false false false false false false false false true false false false false false false false false false false true 22 0 true 58 true true false false false false false false false 33797223 1218739 false false false X 7 6 false false false false true true true true false false false false true true true true true true true false X THE COOPERATIVE 8043333621 85 ST JOHNS STREET WARSAW VA 22572 J Steve Thomas Sr Chairman 4.00 0.00 X X 16004 0 0 Hunter R Greenlaw Jr Vice Chairman 4.00 0.00 X X 16356 0 0 Elnora F Tompkins Secretary-Treas 5.00 0.00 X X 15379 0 0 Russell G Brown Director 7.00 0.00 X 29414 0 0 A WAYNE SAUNDERS Director 4.00 0.00 X 15931 0 0 RALPH E SUTTON Director 4.00 0.00 X 19829 0 0 James A Wise Director 5.00 0.00 X 18434 0 0 Gregory W White President & CEO 40.00 0.00 X 263869 0 161417 Martin R Mothershead VP Finance 40.00 0.00 X 135498 0 70052 Richard E McLendon VP IT & Cust Srv 40.00 0.00 X 121699 0 35824 WILLIAM PATRICK HENRY VP ENGINEERING 40.00 0.00 X 129593 0 59827 JAMES A MOSS VP Operations 40.00 0.00 X 128255 0 57196 910261 384316 5 false true false Asplundh 708 Blair Mill Road Willow Grove PA 19090 ROW Maintenance 953460 J M D CONSTRUCTION CO INC 108 TREVA ROAD SANDSTON VA 23150 UNDERGROUND CABLE 239586 2 0 SALE & DIST. OF ELECTRIC 221000 33797223 33797223 33797223 366928 366928 0 0 262643 1864 260779 260779 15000 245779 23967 5873 18094 18094 18094 0 0 0 CASH PATRONAGE RECEIVED 221000 46888 46888 CONT IN AID OF CONST 221000 760944 760944 MERCHANDISING 221000 5012 5012 812844 35255868 34605055 20012 630801 X 0 0 0 1578071 762183 0 3644615 555288 435586 323519 0 40147 0 0 0 0 0 0 0 0 0 0 866731 0 157865 1511936 0 4314422 0 COST OF POWER 20090557 DISTRIBUTION MAINTENANCE 1537660 DISTRIBUTION OPERATION 780159 GENERAL AND ADMIN 524262 -2782113 34340888 0 0 0 440430 945499 0 0 5428281 5206769 0 0 0 690931 634193 1635368 3415672 90724257 34979722 54812179 55744535 200000 200000 0 14653482 14893420 0 9058 9100 77869729 81049188 2491520 2525179 33906262 35294416 5651872 5576276 42049654 43395871 X 35820075 37653317 35820075 37653317 77869729 81049188 X 914980 918262 X false true X true false 90724257 34979722 55744535 55744535 14893420 ACCRUED LIABILITIES 389212 CONSUMER DEPOSITS 898700 DEFERRED CREDITS 417097 OTHER POSTRETIREMENT BENEFITS 3871267 5576276 34747786 34747786 508082 508082 35255868 32764681 32764681 1576207 1576207 34340888 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CONTRIBUTIONS IN AID OF CONSTRUCTION $760944 Patronage capital cash received adj. $-250998 Rental Expense netted against revenue $-1864 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Patronage Div. paid to members' accts $1578071 Rental Expense netted against revenue $-1864 X X X X false false false Gregory W White President & CEO 255767 8102 155538 5879 425286 JAMES A MOSS VP Operations 125921 2334 51317 5879 185451 Martin R Mothershead VP Finance 131835 3663 64173 5879 205550 Richard E McLendon VP IT & Cust Srv 124468 -2769 29945 5879 157523 WILLIAM PATRICK HENRY VP ENGINEERING 134141 -4548 53948 5879 189420 Russell G Brown - Director Key employee 40538888 Banking Activities dep false Schedule L, Part V Supplemental Information Russell Brown is a director of the cooperative that is also a key employee at bank where the Cooperative maintains it's general operating checking account. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Northern Neck Electric Cooperative is an electric Cooperative that delivers electricity to the members of the Cooperative. The members elect the board of directors which serves as the governing body of the cooperative. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Members of the governing board are elected by the membership of the cooperative. The board has monthly meetings and an annual meeting that is open to the entire membership. Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders certain decisions of the governing board are subject to approval by the members as provided for in the bylaws. Form 990, Part VI, Line 11b: Form 990 Review Process NO REVIEW WAS OR WILL BE CONDUCTED. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Officers, directors and key employees are required to disclose interests that could give rise to conflicts. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees THE MEMBERS OF THE GOVERNING BOARD ALSO SERVE AS THE COMPENSATION COMMITTEE. ANNUALLY THEY EVALUATE THE PERFORMANCE OF THE CEO AND APPROVE THE COMPENSATION PACKAGE FOR THIS POSITION. ALSO, THE COMPENSATION COMMITTEE APPROVES ALL OTHER PAYROLL INCREASES IN TOTAL. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Governing documents and policies are available upon request. Financial data is presented to the members at the annual meeting and also included on the 990 which is available upon request. Other Changes In Net Assets Or Fund Balances - Other Decreases AMORTIZATION OF ACTURIAL LOSS = -$80148 Other Changes In Net Assets Or Fund Balances - Other Decreases CONTRIBUTIONS IN AID OF CONSTRUCTION not revenue per gaap = -$760944 Other Changes In Net Assets Or Fund Balances - Other Increases noncash patronage capital allocations not revenue per IRS = $250998 Other Changes In Net Assets Or Fund Balances - Other Increases Patronage Div. paid to members' accts not expense per gaap = $1578071 Other Changes In Net Assets Or Fund Balances - Other Decreases RETIREMENT OF CAPITAL CREDITS = -$514396 Other Changes In Net Assets Or Fund Balances - Other Increases UNREALIZED GAIN (LOSS) ON INVESTEMENTS = $444681 990 PART VII SECTION A COLUMN F The Cooperative participates in the NRECA group defined pension plan. As part of this plan, participants are required to recognize the actuarial increase in the value of their account on the form 990. The contribution rate for participants in the plan is the same for all individuals in the plan. The change in actuarial value for each participant, however, varies with age. In other words, the older a participant is, the greater the increase in that individual's change in actuarial value with all other things being equal. Form 990, PART IX, Line 17 Travel costs includes the expenses of purchasing, leasing, operating, and repairing any vehicles owned by the Cooperative and used in the Cooperative's activities. Travel costs also include transportation costs, meals and lodging, and per diem payments. FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN NORTHERN NECK ELECTRIC COOPERATIVE'S BY LAWS. THE CORPORATION IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIOONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4.