2014-05-12T10:13:03-05:00 2013-12-31 560747981 DIXON HUGHES GOODMAN LLP 111 FRANKLIN RD SE SUITE 501 ROANOKE VA 240112114 990 2013-01-01 560227152 FOUR COUNTY ELECTRIC MEMBERSHIP CORP FOUR 9102592171 PO BOX 667 BURGAW NC 284250667 MITCHELL KEEL CHIEF EXECUTIVE OFFICER 9102592171 2014-05-05 1 MELISSA C STANLEY P00720497 5409896144 2014-05-05 2013 2015-11-30 17:44:51Z MITCHELL KEEL PO BOX 667 BURGAW NC 28425 98149186 0 X WWW.FOURCTY.ORG X 1937 NC TO PROVIDE HIGHLY RELIABLE ELECTRIC SERVICES, INNOVATIVE ENERGY SOLUTIONS AND OUTSTANDING SERVICE TO OUR MEMBERS AND COMMUNITIES. 10 10 98 0 0 0 0 0 89578850 95888101 128371 140894 1230620 2120191 90937841 98149186 0 0 1102871 1973416 1201359 1085614 0 0 0 81081511 86058678 83385741 89117708 7552100 9031478 179644424 194966311 113067208 124053050 66577216 70913261 TO PROVIDE HIGHLY RELIABLE ELECTRIC SERVICES, INNOVATIVE ENERGY SOLUTIONS AND OUTSTANDING SERVICE TO OUR MEMBERS AND COMMUNITIES. 0 0 FOUR COUNTY ELECTRIC IS A NOT-FOR-PROFIT ELECTRIC COOPERATIVE OWNED BY THE PEOPLE IT SERVES. AS A HOMETOWN UTILITY, FOUR COUNTY IS COMMITTED TO PROVIDING SAFE, RELIABLE AND AFFORDABLE ENERGY TO ITS MORE THAN 32,000 COMMERCIAL AND RESIDENTIAL MEMBER-OWNERS IN SIX NORTH CAROLINA COUNTIES, INCLUDING BLADEN, DUPLIN, PENDER, SAMPSON, COLUMBUS AND ONSLOW COUNTIES. TODAY, MORE THAN 4,900 MILES OF OVERHEAD, UNDERGROUND, AND TRANSMISSION LINES PROVIDE RELIABLE ELECTRIC SERVICE TO OVER 32,000 SERVICES WHICH INCLUDE RESIDENCES, FARMS, BUSINESSES, INDUSTRIES, CHURCHES, AND SCHOOLS. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 98 1 0 0 0 0 0 0 0 0 0 97861517 287669 0 X 10 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NC X GARY CHITWOOD FOUR COUNTY EMC 9102592171 PO BOX 667 BURGAW NC 28425 RW BLANCHARD JR DIRECTOR 5.40 X 15556 0 0 GEORGE HOLLINGSWORTH DIRECTOR 4.90 X 15006 0 0 S EUGENE JORDAN SEC/TREAS 6.60 X 16931 0 0 KENNETH THORNTON DIRECTOR 5.90 X 15281 0 0 ARLESTER FULLWOOD DIRECTOR 5.10 X 14456 0 0 JOHN MATTHIS DIRECTOR 4.80 X 14456 0 0 E CARLTON RAYNOR DIRECTOR 4.10 X 13356 0 0 RONALD J ALLEN DIRECTOR 5.30 X 15556 0 0 BERTICE LANIER VICE PRESIDENT 6.10 X 15030 0 0 FRANKLIN WILLIAMS PRESIDENT 7.30 X 15281 0 0 MITCHELL KEEL CEO 40.00 X 251766 0 132475 GARY CHITWOOD VICE PRES. FINANCE & ACCTG 40.00 X 117855 0 86099 CINDY HORRELL VICE PRES. HUMAN RESOURCES 40.00 X 120708 0 65651 DAN ALLEN VICE PRES. CUSTOMER SERVICES 40.00 X 117168 0 19161 BILLY MCGAVOCK VICE PRESIDENT OPERATIONS 40.00 X 108898 0 7944 DOUG KRYNICKI VICE PRES. INFORMATION TECHNOLOGY 40.00 X 103120 0 38258 970424 0 349588 6 0 1 0 ROWE TREE COMPANY 6640 MALPASS CORNER ROAD CURRIE NC 28435 RIGHT OF WAY TRIMMING 1039669 LEE ELECTRICAL CONSTRUCTION INC PO BOX 55 ABERDEEN NC 28315 LINE CONSTRUCTION 937278 SOUTHEASTERN DATA COOPERATIVE INC 100 ASHFORD CENTER NORTH SUITE 500 ATLANTA GA 30338 DATA PROCESSING & BILLING 474408 SUMTER UTILITIES PO BOX 846391 DALLAS TX 75284 LINE CONSTRUCTION 417179 SOUTHEAST WOODLAND SERVICES 431 CAINES LANDING RD CONWAY SC 29526 RIGHT OF WAY TRIMMING 260510 9 ELECTRICITY TO MEMBERS 221000 91508019 91508019 CONTRIBUTIONS IN AID OF CONSTRUCT 221000 2576413 2576413 PATRONAGE ALLOCATION 221000 1661857 1661857 ELECTRIC PROPERTY RENTAL 221000 141812 141812 95888101 140894 140894 RETIREMENT OF CAPITAL CREDITS 221000 1973416 1973416 DISCOUNT ON CAPITAL CREDITS 221000 146775 146775 2120191 98149186 97866480 0 282706 X 1973416 970424 115190 414099 304945 4237018 5846882 57375 COST OF POWER 59232611 ADMINISTRATIVE & GENERA 3393420 DISTRIBUTION MAINTENANC 3246259 OTHER TAXES 2961341 6364728 89117708 3371233 3246011 1383863 5161076 8100618 8275301 2188347 2935994 1453566 1816085 2142264 5621312 203293972 46710574 151111216 156583398 9893317 11327134 179644424 194966311 8463579 8657874 94388408 101749113 10215221 13646063 113067208 124053050 X 0 0 0 0 66577216 70913261 66577216 70913261 179644424 194966311 X 9031478 -4695433 X X 0 1 X 1 0 6757531 6757531 5023439 3033153 1990286 186299887 43677421 142622466 5213115 5213115 156583398 NRUCFC CERTIFICATES 1265803 C PATRONAGE CAPITAL CERTIFICATES 9530312 C MEMBERSHIPS 17844 C DIVERSIFIED ENERGY LLC 1000 C SPECIAL FUNDS 149829 C COBANK 334254 C GREENCO 28092 C 11327134 DEFERRED CREDITS 755292 CUSTOMER DEPOSITS 1981156 ACCUMULATED PROVISION FOR PENSION/B 10909615 13646063 X 93452582 0 93452582 4696604 4696604 98149186 89117708 0 89117708 0 89117708 PART X, LINE 2: THE CORPORATION HAS BEEN GRANTED EXEMPTION FROM INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND IS NOT CONSIDERED A PRIVATE FOUNDATION. THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATION AS OF DECEMBER 31, 2013 AND 2012. FISCAL YEARS ENDING ON OR AFTER DECEMBER 31, 2010 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTIONS IN AID OF CONSTRUCTION 2,576,413. DISCOUNTS ON CAPITAL CREDITS 146,775. RETIREMENT OF CAPITAL CREDITS 1,973,416. X X 0 0 0 MITCHELL KEEL CEO 246825 0 0 0 4941 0 115767 0 16708 0 384241 0 0 0 GARY CHITWOOD VICE PRES. FINANCE & ACCTG 111958 0 5000 0 897 0 70774 0 15325 0 203954 0 0 0 CINDY HORRELL VICE PRES. HUMAN RESOURCES 111221 0 5000 0 4487 0 57585 0 8066 0 186359 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION OPERATES AS A COOPERATIVE. ANY PERSON, BUSINESS, ORGANIZATION, ASSOCIATION, OR AGENCY IS ELIGIBLE TO BECOME A MEMBER OF, AND RECEIVE ELECTRIC SERVICE FROM, FOUR COUNTY EMC. HOWEVER, NO PERSON SHALL HAVE MORE THAN ONE MEMBERSHIP IN THE COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP AT THE ANNUAL MEETING OF THE MEMBERS. EACH ACTIVE MEMBER IS ALLOWED ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B ACTIVE MEMBERS MUST APPROVE OF THE DISPOSAL OF A SIGNIFICANT PERCENTAGE OF THE ORGANIZATION'S ASSETS. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY ACCOUNTING PERSONEL BEFORE FURNISHING IT TO THE CHIEF EXECUTIVE OFFICER AND THE BOARD OF DIRECTORS FOR THEIR APPROVAL. THIS REVIEW INCLUDES COMPARING THE 990 TO THE AUDITED FINANCIAL STATEMENTS AND REQUIRED ANNUAL FILINGS WITH THE RURAL UTILITIES SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE COVERED UNDER THE ORGANIZATION'S CODE OF CONDUCT, WHICH STATES, "EMPLOYEES ARE ENCOURAGED TO TALK TO SUPERVISORS, MANAGERS, OR OTHER APPROPRIATE PERSONNEL ABOUT OBSERVED ILLEGAL OR UNETHICAL BEHAVIOR,AS WELL AS ACTUAL OR SUSPECTED VIOLATIONS OF THE POLICY OF WHICH THEY ARE AWARE, OR CONCERNS ABOUT THE BEST COURSE OF ACTION IN A PARTICULAR SITUATION". A COPY OF THE POLICY IS POSTED AT EACH OFFICE LOCATION AND A COPY CAN BE REQUESTED FROM A SUPERVISOR. EMPLOYEES ARE NOTIFIED ONCE A YEAR ABOUT THE POLICY. EMPLOYEES ARE EXPECTED TO COOPERATE IN INTERNAL INVESTIGATIONS OF MISCONDUCT. DIRECTORS ARE SIMILARY ENCOURAGED TO DISCUSS SUCH ISSUES WITH FELLOW DIRECTORS OR WITH THE PRESIDENT OF THE BOARD. DIRECTORS SIGN A QUESTIONNAIRE THAT ASKS ABOUT POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION PERIODICALLY USES THE SERVICES OF A CONSULTING SERVICE WHICH COMPARES THE ORGANIZATION'S COMPENSATION WITH THAT OF SIMILAR ORGANIZATIONS FOR ALL CLASSES OF EMPLOYEES. SALARIES OF MANAGEMENT PERSONNEL, INCLUDING THE CHIEF EXECTUTIVE OFFICER, ARE REVIEWED BY THE BOARD OF DIRECTORS, AND FILES ARE MAINTAINED FOR THE REVIEW PROCESS BY WHICH MERIT RAISES ARE GRANTED. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE BYLAWS ARE PROVIDED TO NEW MEMBERS. A CONDENSED FINANCIAL STATEMENT IS PROVIDED TO THE MEMBERS AS A PART OF THE ORGANIZATION'S ANNUAL REPORT. THE FULL FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE ORGANIZATION'S OFFICE. THE CONFLICT OF INTEREST POLICY IS A PART OF THE ORGANIZATION'S CODE OF CONDUCT, WHICH IS AVAILABLE UPON REQUEST FROM THE ORGANIZATION'S OFFICE. FORM 990, PART IX, LINE 24E CONSUMER ACCOUNTS : TOTAL EXPENSES 2,699,046. DISTRIBUTION OPERATION : TOTAL EXPENSES 2,369,285. CUSTOMER SERVICE & INFORMATION : TOTAL EXPENSES 743,631. TRANSMISSION EXPENSE : TOTAL EXPENSES 507,470. OTHER EXPENSES : TOTAL EXPENSES 45,296. FORM 990, PART XI, LINE 9: CONTRIBUTIONS IN AID OF CONSTRUCTIO -2,576,413. DISCOUNTS ON CAPITAL CREDITS -146,775. RETIREMENT OF CAPITAL CREDITS -1,973,417. OTHER CHANGES IN EQUITY 1,172. FORM 990, PART XI, LINE 2C THE PROCESS OF FINANCIAL STATEMENT REVIEW AND OVERSIGHT HAS NOT CHANGED FROM THE PRIOR YEAR.