LEE COUNTY ELECTRIC COOPERATIVE INC: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- LEE COUNTY ELECTRIC COOPERATIVE INC (EIN 59-0329555)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-05-01
- IRS object ID
- 201431259349301503
- Schema version
- 2013v3.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2014-05-01T15:39:42-07:00 | ReturnTs |
| Tax Period End | 2013-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590329555 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LEE COUNTY ELECTRIC COOPERATIVE INC (LCEC) | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LEEC | BusinessNameControlTxt |
| Phone | 2399952121 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 3455 | AddressLine1 |
| City | North Fort Myers | City |
| State | FL | State |
| ZIP Code | 33918 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Denise Vidal | PersonNm |
| Person Title | Director of Fin & Acc/CFO | PersonTitleTxt |
| Phone | 2399952121 | PhoneNum |
| Signature | 2014-05-01 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2013 | TaxYr |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | William D Hamilton | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 3455 | AddressLine1 |
| City | North Fort Myers | City |
| State | FL | State |
| ZIP Code | 33918 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $406,057,212 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.lcec.net | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | Lee County Electric Cooperative, Inc. (LCEC) provides electric transmission and distribution services to residential and business customers within the Cooperative's service territory. | ActivityOrMissionDesc |
| Voting Members Governing Body | 10 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 456 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $399,891,266 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $401,179,988 | CYProgramServiceRevenueAmt |
| PY Investment Income | $254,302 | PYInvestmentIncomeAmt |
| CY Investment Income | $265,261 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,386,757 | PYOtherRevenueAmt |
| CY Other Revenue | $4,495,362 | CYOtherRevenueAmt |
| PY Total Revenue | $404,532,325 | PYTotalRevenueAmt |
| CY Total Revenue | $405,940,611 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $57,500 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $62,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $12,883,501 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $16,856,603 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,596,014 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,637,175 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $387,471,699 | PYOtherExpensesAmt |
| CY Other Expenses | $385,180,006 | CYOtherExpensesAmt |
| PY Total Expenses | $402,008,714 | PYTotalExpensesAmt |
| CY Total Expenses | $403,736,284 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,523,611 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $2,204,327 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $661,761,280 | TotalAssetsBOYAmt |
| Total Assets EOY | $685,237,668 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $343,685,117 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $357,395,541 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $318,076,163 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $327,842,127 | NetAssetsOrFundBalancesEOYAmt |
| Mission | LCEC provides efficient, reliable, cost-competitive electric and emerging energy solutions and excellent service to our customers. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $403,736,284 | ExpenseAmt |
| Grant | $62,500 | GrantAmt |
| Desc | Utilizing approximately 8,000 miles of distribution lines, LCEC provided 3,458,260,838 kilowatt hours of electric energy to its customers located in its service territory. The service territory included Cape Coral, North Fort Myers, Marco Island, Sanibel and Captiva Islands, Pine Island, Everglades City, Immokalee, Ave Maria and parts of Lehigh Acres (all in the state of Florida). | Desc |
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $403,736,284 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | Yes (1) | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 468 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 456 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $396,664,899 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $5,819,970 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 10 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Denise M Vidal | PersonNm |
| Phone | 2396562399 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4980 Bayline Drive | AddressLine1 |
| City | North Fort Myers | City |
| State | FL | State |
| ZIP Code | 33917 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionAGrp (20 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Frank Garrett | ||||||||
| Trustee | 6.4 | Yes (X) | $28,476 | $0 | $0 | |||
| David C Scott | ||||||||
| Trustee | 6.00 | Yes (X) | $30,107 | $0 | $0 | |||
| Curtis Bostick | ||||||||
| Trustee/VP | 5 | Yes (X) | $28,596 | $0 | $0 | |||
| Carlos Cavenago | ||||||||
| Trustee/Treasurer | 4 | Yes (X) | $28,596 | $0 | $0 | |||
| William G Mathis | ||||||||
| Trustee | 5 | Yes (X) | $26,976 | $0 | $0 | |||
| Darlene Andert | ||||||||
| Trustee | 4 | Yes (X) | $24,627 | $0 | $0 | |||
| Larry Turbeville | ||||||||
| Trustee/President | 8 | Yes (X) | $23,220 | $0 | $0 | |||
| Gary Jackson | ||||||||
| Trustee/Secretary | 5.00 | Yes (X) | $16,675 | $0 | $0 | |||
| Geoffrey Roepstorff | ||||||||
| Trustee | 3 | Yes (X) | $13,675 | $0 | $0 | |||
| Richard Prichett | ||||||||
| Trustee | 5 | Yes (X) | $16,573 | $0 | $0 | |||
| William D Hamilton | ||||||||
| EVP/CEO | 55 | $505,958 | $0 | $22,342 | Yes (X) | |||
| Denise M Vidal | ||||||||
| Dir. Finance & Accounting/CFO/Asst. Treasurer | 55 | $209,967 | $0 | $16,056 | Yes (X) | |||
| Richard K Fuson | ||||||||
| Dir. Electric Operations | 50.00 | $222,830 | $0 | $16,263 | Yes (X) | |||
| Frederic Kunzi | ||||||||
| Dir. Info Tech/CIO | 55.00 | $216,507 | $0 | $16,052 | Yes (X) | |||
| Kathryn E Irwin | ||||||||
| Dir. Human Resources | 53.00 | $159,846 | $0 | $13,833 | Yes (X) | |||
| Rodney C Hawkins | ||||||||
| Mgr Design/Engineer | 55 | $141,076 | $0 | $16,429 | Yes (X) | |||
| Brian S Peal | ||||||||
| Head of Architecture & Development Practice | 55 | $140,660 | $0 | $7,695 | Yes (X) | |||
| Robert D Grover | ||||||||
| Mgr System Operations | 55 | $139,965 | $0 | $6,013 | Yes (X) | |||
| Frank R Cain Jr | ||||||||
| Dir. Regulatory and Gov't Relations | 55 | $138,012 | $0 | $13,022 | Yes (X) | |||
| Edward R Nagy | ||||||||
| Head of IT Infrastructure and Operations & Information Security | 55 | $133,564 | $0 | $16,024 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,245,906 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $143,729 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 41 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt | Address Line2ContractorAddress/USAddress/AddressLine2 |
|---|---|---|---|---|---|---|
| Mastec North America Inc | ||||||
| 101 South Tryon | Charlotte | NC | 28255 | Maintenance & Construction | $4,334,131 | |
| Wesco Distribution Inc | ||||||
| 225 W Station Square Dr | Pittsburgh | PA | 19219 | Electric Distribution | $4,032,877 | Ste 700 |
| Oracle America | ||||||
| PO Box 203448 | Dallas | TX | 753203448 | Software/Software Maint. | $3,302,153 | |
| Asplundh Tree Expert Co | ||||||
| 708 Blair Mill Road | Willow Grove | PA | 19090 | Maintenance & Construction | $2,882,636 | |
| Pike Electric Inc | ||||||
| PO Box 1000 | Memphis | TN | 381480517 | Maintenance & Construction | $2,641,693 | Dept 517 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 66 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Electric Revenues | 221000 | $396,414,129 | $396,414,129 | $0 | $0 |
| Patronage Capital | 221000 | $4,765,859 | $4,765,859 | $0 | $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $401,179,988 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $208,955 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $208,955 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $35,991 | RealAmt |
| Personal | $3,507,985 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $35,991 | RealAmt |
| Personal | $3,507,985 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,543,976 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $35,991 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,507,985 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $56,306 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $56,306 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $56,306 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $56,306 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $0 | ContriRptFundraisingEventAmt |
| Gross Sales Of Inventory | $258,823 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $116,601 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $142,222 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $142,222 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Amort of Gain on Refinancing | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $809,164 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $809,164 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $809,164 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $405,940,611 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $402,167,365 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,773,246 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,500 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,856,603 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,637,175 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,962,675 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,872,166 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Cost of Power | $278,260,504 |
| Admin & General Expense | $18,864,929 |
| Distribution Exp - Maintenance | $12,845,174 |
| Taxes - Other | $10,157,847 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,216,711 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $403,736,284 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,542,541 | BOYAmt |
| EOY | $2,381,253 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,196,559 | BOYAmt |
| EOY | $38,856,197 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,606,577 | BOYAmt |
| EOY | $6,090,914 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,518,219 | BOYAmt |
| EOY | $3,040,773 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $964,671,959 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $400,909,802 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $549,806,562 | BOYAmt |
| EOY | $563,762,157 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,090,822 | BOYAmt |
| EOY | $71,106,374 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $661,761,280 | BOYAmt |
| EOY | $685,237,668 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,409,499 | BOYAmt |
| EOY | $40,015,778 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,915,876 | BOYAmt |
| EOY | $3,106,712 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $200,262,763 | BOYAmt |
| EOY | $189,145,383 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,318,102 | BOYAmt |
| EOY | $64,741,883 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,778,877 | BOYAmt |
| EOY | $60,385,785 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $343,685,117 | BOYAmt |
| EOY | $357,395,541 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $845,939 | BOYAmt |
| EOY | $858,994 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,911 | BOYAmt |
| EOY | $21,911 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $317,208,313 | BOYAmt |
| EOY | $326,961,222 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $318,076,163 | BOYAmt |
| EOY | $327,842,127 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $661,761,280 | BOYAmt |
| EOY | $685,237,668 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $2,204,327 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $0 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $7,561,637 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $40,000 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $15,729,764 | OtherCostOrOtherBasisAmt |
| Book Value | $15,769,764 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $163,477 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $161,535 | DepreciationAmt |
| Book Value | $1,942 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $923,843,699 | OtherCostOrOtherBasisAmt |
| Depreciation | $379,700,614 | DepreciationAmt |
| Book Value | $544,143,085 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $24,895,019 | OtherCostOrOtherBasisAmt |
| Depreciation | $21,047,653 | DepreciationAmt |
| Book Value | $3,847,366 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $563,762,157 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (10 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Patronage Capital - Seminole Electric Coop | $51,820,945 | C |
| Patronage Capital - CoBank | $7,501,748 | C |
| Capital Term Certificates - CFC | $6,598,184 | C |
| Patronage Capital - National Rural CFC | $3,475,226 | C |
| Patronage Capital - Federated Rural | $1,678,080 | C |
| Patronage Capital - National Rural TC | $14,870 | C |
| Membership - FL Rural Electric | $9,517 | C |
| Patronage Capital - Glades Electric | $5,604 | C |
| Membership - National Rural | $1,000 | C |
| All Other | $1,200 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $71,106,374 | TotalBookValueProgramRltdAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (6 entries)
| DescDesc | AmtAmt |
|---|---|
| Accrued Pension Liability | $17,488,865 |
| Customer Deposits | $15,726,777 |
| Misc Liability - Over-Recovery Accrual | $13,211,011 |
| Patronage Capital Payable L-T | $7,016,771 |
| Unamortized bad debt special equity distribution | $4,086,896 |
| Other Post-Retirement Benefits | $2,855,465 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $60,385,785 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $405,870,686 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $0 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Recoveries Prior Year Grants | $0 | RecoveriesPriorYearGrantsAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $405,870,686 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $0 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $69,925 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $69,925 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $405,940,611 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $386,809,756 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $0 | DonatedServicesUseFcltsAmt |
| Prior Year Adjustments | $0 | PriorYearAdjustmentsAmt |
| Losses Reported | $0 | LossesReportedAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $386,809,756 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $0 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $16,926,528 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $16,926,528 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $403,736,284 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 1 | FIN 48 Footnote: Income Tax Status - LCEC is exempt from federal income taxes under the provisions of Section 501(c)(12) of the Internal Revenue Code. It is also exempt from state income taxes. Accordingly, the accompanying financial statements include no provision for such taxes. With few exceptions, LCEC is no longer subject to income tax examinations by the U.S. federal, state, or local tax authorities for years before 2009. Management has evaluated LCEC tax positions and concluded that LCEC has taken no uncertain tax positions that require adjustment to the financial statements. |
| Schedule D, Part X, Line 2 | See Schedule O |
| Schedule D, Part XI, Line 4b | Reconciliation of Revenue per Audited Financial Statements with Revenue per Return Other expense items included in other income on the Financial Statements $69,925 |
| Schedule D, Part XII, Line 4b | Reconciliation of Expenses per Audited Financial Statements with Expenses per Return: Patronage Capital Paid to Members $16,856,603. Other expense items included in other income on the Financial Statements $69,925. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (3 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2 |
|---|---|---|---|---|---|---|---|---|
| United Way of Lee County | ||||||||
| 7275 Concourse Drive | Fort Myers | FL | 33908 | 591005169 | 501c3 | $45,000 | United Way campaign funds stay in the local community to help support the local human services network. United Way partner agencies and initiatives like Alvin A. Dubin Alzheimer's Resource Center, Children's Advocacy Center, Big Brothers Big Sisters, LARC and United Way 211 serve a diverse range of needs in our community such as nurturing children and youth, strengthening families, meeting critical needs such as helping the elderly and disabled live independently, and empowering communities by bringing health and human services to neighborhoods. A portion of the contributions that are made to the United Way helps to fund the "Power To Share" program. The "Power To Share" program provides short-term emergency assistance funding for qualifying LCEC customers who are unable to pay their electric bills due to financial hardship. | |
| United Way of Collier County | ||||||||
| 848 First Ave North | Naples | FL | 341026063 | 591026096 | 501c3 | $10,000 | United Way campaign funds stay in the local community to help support the local human services network. United Way partner agencies and initiatives like Senior Friendship Center, Children's Advocacy Center, Boy Scouts and Girl Scouts, Neighborhood Health Clinic, and Sunrise Community serve a diverse range of needs in our community such as nurturing children and youth, strengthening families, meeting critical needs such as helping the elderly obtain health services and disabled adults live productively, and empowering communities by bringing health and human services to neighborhoods. | Suite 240 |
| The Horizon Foundation Inc | ||||||||
| 12800 University Drive | Fort Myers | FL | 33907 | 650872214 | 501c3 | $7,500 | To enable the Foundation to actively support the marketing efforts and success of The Horizon Council and Lee County Economic Development office. | Suite 300 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 | FormAndLineReferenceDesc |
| Explanation | Procedures for Monitoring the Use of Grant Funds: LCEC has representation on the United Way (UW) of Lee, Hendry, Glades and Okeechobee Board of Directors and continually monitors the administration and use of funding to area agencies. In addition, multiple LCEC employees hold positions on the annual UW allocation committee. In this role, the committee reviews financial reports, grant applications, results from the previous year's funding allocation and makes site visits for selected agencies. Committee members make recommendations for funding levels to be received from UW which includes the annual contribution from LCEC. LCEC has representation on The Horizon Council, a public-private advisory board to the Lee County (FL) Board of County Commissioners on Economic Development issues. The officers of The Horizon Council simultaneously serve as officers of The Horizon Foundation which is a charitable 501(c)3 organization established as a fund-raising vehicle to enable individuals and businesses to actively support the marketing efforts and success of The Horizon Council and Lee County Economic Development office. LCEC is an at-large member of The Horizon Council and contributor to The Horizon Foundation. Expenditures are approved by The Horizon Foundation/Council Executive Committee and, as necessary, The Horizon Council. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| William D Hamilton | ||||||||||||||
| EVP/CEO | $430,958 | $0 | $75,000 | $0 | $0 | $0 | $7,941 | $0 | $14,401 | $0 | $528,300 | $0 | $0 | $0 |
| Denise M Vidal | ||||||||||||||
| Dir. Finance & Accounting/CFO/Asst. Treasurer | $182,413 | $0 | $27,554 | $0 | $0 | $0 | $5,498 | $0 | $10,559 | $0 | $226,024 | $0 | $0 | $0 |
| Richard K Fuson | ||||||||||||||
| Dir. Electric Operations | $194,025 | $0 | $28,805 | $0 | $0 | $0 | $5,808 | $0 | $10,455 | $0 | $239,093 | $0 | $0 | $0 |
| Frederic Kunzi | ||||||||||||||
| Dir. Info Tech/CIO | $188,513 | $0 | $27,994 | $0 | $0 | $0 | $5,645 | $0 | $10,407 | $0 | $232,559 | $0 | $0 | $0 |
| Kathryn E Irwin | ||||||||||||||
| Dir. Human Resources | $139,313 | $0 | $20,533 | $0 | $0 | $0 | $4,222 | $0 | $9,611 | $0 | $173,679 | $0 | $0 | $0 |
| Rodney C Hawkins | ||||||||||||||
| Mgr Design/Engineer | $126,278 | $0 | $14,798 | $0 | $0 | $0 | $3,901 | $0 | $12,527 | $0 | $157,504 | $0 | $0 | $0 |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Seminole Electric Cooperative Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | See Part V | RelationshipDescriptionTxt |
| Transaction | $189,435,531 | TransactionAmt |
| Transaction | See Part V | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule L, Part IV | FormAndLineReferenceDesc |
| Explanation | (a) Name of Person: Seminole Electric Cooperative, Inc (SEC) (b) Relationship Between Interested Person and Organization: SEC has one trustee of LCEC and the EVP/CEO of LCEC serving on its board. (d) Description of Transaction: SEC is one of the wholesale power providers from which LCEC purchases its power. LCEC is also a cooperative member of SEC. The board of SEC is comprised of the manager and one board member from each of the member electric distribution cooperatives. Currently, William Hamilton, CEO and Frank Garrett, Trustee, serve as representatives (Carlos Cavenago, Trustee, serves as an alternate) from LCEC to the SEC board of directors. Although it is routine for board members of electric distribution cooperatives to serve as representatives on the boards of electric transmission cooperatives, for purposes of the Form 990 and its instructions, Frank Garrett is not considered independent. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Classes of Members or Stockholders: Lee County Electric Cooperative, Inc. operates on the cooperative basis in order to provide affordable electric energy to its members. |
| Form 990, Part VI, Section A, Line 7a | Election of Members and Their Rights: During the 2013 annual trustee election, the membership elected Board of Trustee Members for four district seats that were up for election during that year. In accordance with Florida Statutes: Title XXXVI, Chapter 607.0707, all customers who were members on the record date of February 15, 2013 received a ballot with the current district seats up for election. 169,556 ballots were mailed to members, 16,665 ballots were returned. |
| Form 990, Part VI, Section A, Line 7b | Decisions Subject to Approval of Members; Decisions to dispose of a substantial portion of the Cooperative's assets, the dissolution of the Cooperative, and amendments to the By-Laws must all be approved by the membership. |
| Form 990, Part VI, Section B, Line 11b | Organization's Process to Review Form 990: The Form 990 is prepared by the Manager, Financial Accounting and staff. It is reviewed by the Director of Finance and Accounting/Chief Financial Officer (CFO) and Executive Vice President (EVP/Chief Executive Officer (CEO)), reviewed with the Board of Trustees, and then approved by the Director of Finance & Accounting/CFO. |
| Form 990, Part VI, Section B, Line 12c | Enforcement of Conflicts Policy: On an annual basis, all Directors, Managers, and Board of Trustees must complete and sign a conflict of interest statement. The completed and signed statements are reviewed and maintained by the audit services department. |
| Form 990, Part VI, Section B, Line 15 | The Board of Trustees approved the compensation for the EVP/CEO. The EVP/CEO compensation was based upon compensation survey/study. Compensation for other offices and key employees were based upon the Company's standard approach whereby compensation midpoints/ranges are established by the human resource department based upon market rates, then individual performance and associated compensation base salary action is determined by the next level of supervision. The incentive pay portion of compensation is determined by the human resource department for compliance with said program. The Board of Trustees approves the incentive compensation program. |
| Form 990, Part VI, Section C, Line 19 | Governing Documents Disclosure Explanation: The Corporate By-Laws are available on the corporate website and provided electronically or in printed version to the public upon request. The conflict of interest policy is not made available to the public. The financial statements are available to the public upon request. |
| Form 990, Part IX, Line 4 | The IRS instructions for the 2013 version of Form 990 state: "The instructions clarify that patronage dividends paid by section 501(c)(12) organization to their members should be reported on Line 4..." of Part IX, Statement of Functional Expenses. Line 4 is entitled "Benefits paid to or for members." For purposes of this Form 990, the amount reported on Line 4 represents the amount reported in the audited Statement of Revenue, Expenses and Changes in Patronage Capital for the year ended December 31, 2013. |
| Form 990, Part XI, Line 9 | Reconciliation of Net Assets Explanation: Increase in Memberships $13,055, Patronage Capital returned to Equity $1,590,512, Pension $5,523,346, Post Retirement Benefits $434,723 |