GLADES ELECTRIC COOPERATIVE INC: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- GLADES ELECTRIC COOPERATIVE INC (EIN 59-0538145)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-08-14
- IRS object ID
- 201432269349302268
- 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 | 2014-08-14T11:45:36-05:00 | ReturnTs |
| Tax Period End | 2013-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 631035228 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jackson Thornton & Co PC | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | P O Box 96 | AddressLine1 |
| City | Montgomery | City |
| State | AL | State |
| ZIP Code | 361010096 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2013-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590538145 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Glades Electric Cooperative Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GLAD | BusinessNameControlTxt |
| Phone | 8002264024 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 519 | AddressLine1 |
| City | Moore Haven | City |
| State | FL | State |
| ZIP Code | 33471 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jeffery R Brewington | PersonNm |
| Person Title | General Manager & CEO | PersonTitleTxt |
| Phone | 8002264024 | PhoneNum |
| Signature | 2014-07-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | PATRICK COOPER | PreparerPersonNm |
| PTIN | P00856177 | PTIN |
| Phone | 3348347660 | PhoneNum |
| Preparation | 2014-07-29 | PreparationDt |
| 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 | Jeffery R Brewington | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 519 | AddressLine1 |
| City | Moore Haven | City |
| State | FL | State |
| ZIP Code | 33471 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $43,661,849 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.gladesec.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1945 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | To provide electric utility service to the cooperative's members. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 8 | VotingMembersIndependentCnt |
| Total Employee | 77 | 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 | $41,704,053 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $43,499,645 | CYProgramServiceRevenueAmt |
| PY Investment Income | $88,824 | PYInvestmentIncomeAmt |
| CY Investment Income | -$335,182 | CYInvestmentIncomeAmt |
| PY Other Revenue | $132,575 | PYOtherRevenueAmt |
| CY Other Revenue | $107,386 | CYOtherRevenueAmt |
| PY Total Revenue | $41,925,452 | PYTotalRevenueAmt |
| CY Total Revenue | $43,271,849 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $453,709 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $420,807 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $524,950 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $39,316,878 | PYOtherExpensesAmt |
| CY Other Expenses | $39,115,720 | CYOtherExpensesAmt |
| PY Total Expenses | $39,737,685 | PYTotalExpensesAmt |
| CY Total Expenses | $40,094,379 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,187,767 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,177,470 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $113,163,808 | TotalAssetsBOYAmt |
| Total Assets EOY | $116,380,776 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $87,657,507 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $87,510,900 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $25,506,301 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $28,869,876 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Glades Electric Cooperative is a member-owned organization built on integrity with a philosophy of continuous improvement through teamwork that delivers quality services at competitive prices. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Utilizing 2,630 miles of electric distribution and transmission lines, Glades Electric Cooperative, Inc. provided 305,418,070 Kilowatt-Hours of electric energy to approximately 16,000 residential, commercial and industrial accounts located in South Florida. | Desc |
| 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 | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | 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 | 0 | 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 | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 22 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 77 | 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 | $42,942,481 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $612,212 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 8 | 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
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jennifer Manning | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8639466214 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 26733 US Hwy 27 | AddressLine1 |
| City | Moore Haven | City |
| State | FL | State |
| ZIP Code | 33471 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| John Coxe | |||||||
| Trustee/President | 1.50 | Yes (X) | $19,250 | $0 | $0 | ||
| James Aul | |||||||
| Trustee/Vice President | 1.50 | Yes (X) | $13,750 | $0 | $0 | ||
| Russell Henderson | |||||||
| Trustee/Secretary/Treasuer | 1.50 | Yes (X) | $13,000 | $0 | $0 | ||
| Lee Henderson | |||||||
| Trustee | 1.50 | Yes (X) | $18,500 | $0 | $0 | ||
| Donnie Lundy | |||||||
| Trustee | 1.50 | Yes (X) | $11,500 | $0 | $0 | ||
| Ladd Bass | |||||||
| Trustee | 1.50 | Yes (X) | $9,000 | $0 | $0 | ||
| Shannon Hall | |||||||
| Trustee | 1.50 | Yes (X) | $19,000 | $0 | $0 | ||
| Irene Lofton | |||||||
| Trustee | 1.50 | Yes (X) | $10,000 | $0 | $0 | ||
| Barney Goodman | |||||||
| Trustee | 1.50 | Yes (X) | $16,250 | $0 | $0 | ||
| Jeffery R Brewington | |||||||
| General Manager & CEO | 60.00 | $210,032 | $0 | $53,152 | Yes (X) | ||
| Jennifer Manning | |||||||
| Chief Financial Officer | 60.00 | $95,041 | $0 | $36,475 | Yes (X) | ||
| Paul T McGehee | |||||||
| Director of Business Development | 60.00 | $104,840 | $0 | $31,394 | Yes (X) | ||
| Tracy Vaughn | |||||||
| Director of Operations | 60.00 | $108,773 | $0 | $32,062 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $648,936 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $153,083 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1 | CityContractorAddress/USAddress/City | StateContractorAddress/USAddress/State | ZIP CodeContractorAddress/USAddress/ZIPCode | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Gresco Utility Supply | |||||
| PO Box 932918 | Atlanta | GA | 31193 | Utility Supplies | $1,833,902 |
| Lewis Tree Service Inc | |||||
| PO Box 731897 | Dallas | TX | 75373 | Right of Way Clearing | $1,066,418 |
| Pike Electric LLC | |||||
| PO Box 1000 | Memphis | TN | 38148 | Electric Contract Work | $391,352 |
| Powersecure International Inc | |||||
| PO Box 660367 | Dallas | TX | 75266 | Electric Contract Work | $187,133 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Sales of Electricity | 221000 | $42,942,481 | $42,942,481 |
| Patronage Capital | 221000 | $557,164 | $557,164 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $43,499,645 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $35,446 | TotalRevenueColumnAmt |
| Exclusion | $35,446 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $107,156 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $107,156 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $107,156 | TotalRevenueColumnAmt |
| Exclusion | $107,156 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $19,372 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $390,000 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$370,628 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$370,628 | TotalRevenueColumnAmt |
| Exclusion | -$370,628 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $230 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $230 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $230 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $43,271,849 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $43,499,875 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$228,026 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $453,709 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $524,950 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,292,499 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,366,676 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Cost of Power | $23,259,039 |
| Dist Exp - Operations | $3,282,826 |
| Admin & General Exp | $2,005,342 |
| Dist Exp - Maintenance | $1,601,570 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,307,768 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,094,379 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $887,197 | BOYAmt |
| EOY | $177,189 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,567,237 | BOYAmt |
| EOY | $5,218,448 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,645,853 | BOYAmt |
| EOY | $705,147 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,389,612 | BOYAmt |
| EOY | $2,555,408 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $122,501,298 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $23,958,045 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $95,950,653 | BOYAmt |
| EOY | $98,543,253 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $330,175 | BOYAmt |
| EOY | $330,814 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,393,081 | BOYAmt |
| EOY | $8,850,517 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,163,808 | BOYAmt |
| EOY | $116,380,776 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,125,193 | BOYAmt |
| EOY | $3,249,026 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $242,026 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,249,259 | BOYAmt |
| EOY | $80,903,339 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,283,055 | BOYAmt |
| EOY | $3,116,509 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,657,507 | BOYAmt |
| EOY | $87,510,900 | 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 | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,506,301 | BOYAmt |
| EOY | $28,869,876 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,506,301 | BOYAmt |
| EOY | $28,869,876 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $113,163,808 | BOYAmt |
| EOY | $116,380,776 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,177,470 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $186,105 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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) |
|---|---|---|
| Other Cost Or Other Basis | $2,004,825 | OtherCostOrOtherBasisAmt |
| Book Value | $2,004,825 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,052,558 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,159,638 | DepreciationAmt |
| Book Value | $892,920 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $116,443,915 | OtherCostOrOtherBasisAmt |
| Depreciation | $20,798,407 | DepreciationAmt |
| Book Value | $95,645,508 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $98,543,253 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (7 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Patronage Capital - Seminole Electric Cooperative | $5,668,154 | C |
| Patronage Capital - CFC | $317,030 | C |
| Patronage Capital - GRESCO | $1,131,515 | C |
| Patronage Capital - Federated Insurance Exchange | $396,615 | C |
| Patronage Capital - CoBank | $406,034 | C |
| Investments in associated organizations - Other | $101,949 | C |
| Capital Term Certificates | $829,220 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $8,850,517 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Customer Deposits | $2,555,866 |
| Capital Lease Obligations | $560,643 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,116,509 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $43,642,247 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $370,398 | OtherRevenueAmt |
| Revenue Not Reported | $370,398 | RevenueNotReportedAmt |
| Revenue Subtotal | $43,271,849 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $43,271,849 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $40,010,429 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $370,398 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $370,398 | ExpensesNotReportedAmt |
| Expenses Subtotal | $39,640,031 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $454,348 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $454,348 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $40,094,379 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part X, Line 2: | Income taxes and deferred taxes - The Cooperative is exempt from income taxes under Internal Revenue Code Section 501(c)(12). For Federal and Florida state income tax purposes, GUS and GEI are included in the Company's consolidated tax returns. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating losses, and tax credit carry-forwards 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. Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements. With few exceptions, the Cooperative is no longer subject to income tax examinations by the United States federal, state, or local tax authorities for years before 2010. |
| Part XI, Line 2d - Other Adjustments: | Reclassification of Items Included as an Expense on the Financial Statement 370,398. |
| Part XII, Line 2d - Other Adjustments: | Reclassification of Items Included as an Expense on the Financial Statement 370,398. |
| Part XII, Line 4b - Other Adjustments: | Assignment of Margins to Members 453,709. Income of Subsidiary - Equity Method 639. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Jeffery R Brewington | PersonNm |
| Title | General Manager & CEO | TitleTxt |
| Base Compensation Filing Org | $207,388 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $2,644 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $33,483 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $19,669 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $263,184 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 1b | FormAndLineReferenceDesc |
| Explanation | Gross-ups have been made to the General Manager as per his contract. | ExplanationTxt |
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 (SEC) | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Business Relationship | RelationshipDescriptionTxt |
| Transaction | $23,259,039 | TransactionAmt |
| Transaction | Seminole Electric Cooperative, Inc. is the wholesale power provider from which Glades Electric Cooperative, Inc. purchases its power. Glades Electric Cooperative, Inc. is also a cooperative member of Seminole Electric Cooperative, Inc. The Board of Seminole Electric Cooperative, Inc. is comprised of the manager and one board member from each of the member electric distribution cooperatives. Currently, Jeff Brewington, General Manager & CEO, and James Aul, Trustee, serve as representatives from Glades Electric Cooperative,Inc. to the Seminole Electric Cooperative, Inc. 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, James Aul is not considered independent. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 6 | All people or entities who purchase energy from Glades Electric Cooperative, Inc. are members of the organization. Margins are allocated to members' accounts based on useage. Each member has a single vote regarding election of the governing body of the cooperative. |
| Form 990, Part VI, Section A, line 7a | The members of Glades Electric Cooperative, Inc. may elect members of the governing body at the annual meeting. Each year, an annual meeting is held at which the membership votes to elect three trustees for a three year term. |
| 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 articles of incorporation, and/or the cooperative's bylaws. |
| Form 990, Part VI, Section B, line 11 | The completed 2013 Form 990 was first reviewed by the Chief Financial Officer. A copy of the Form 990 was then presented to the Board of Trustees at a board meeting prior to filing the form with the Internal Revenue Service. Once reviewed and approved by the Board of Trustees, the General Manager/CEO signed and transmitted the return to the Internal Revenue Service. |
| Form 990, Part VI, Section B, line 12c | Annually, the Board of Trustees holds a policy workshop at which all the Cooperatives' policies are reviewed, including the policy regarding conflict of interest. At any board meeting in which a conflict may arise due to business transactions, the applicable trustees will recuse themselves from voting on the matter. |
| Form 990, Part VI, Section B, line 15 | The compensation of the General Manager/CEO is determined by using comparable salary data of other cooperatives as well as other similar organizations within the industry. The General Manager/CEO reviews various salary surveys and takes a recommendation to the Board of Trustees for its approval. All non-union personnel receive the Board approved increase. Union personnel receive a contracted amount. |
| Form 990, Part VI, Section C, line 19 | Glades Electric Cooperative's governing documents, conflict of interest policy, and financial statements are available to the public upon request at the main office in Moore Haven, Florida. |
| Form 990, Part IX, Line 4 | The instructions to the 2013 Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. Glades Electric Cooperative, Inc. has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Therefore, the amount listed in Part IX, Line 4 represents the margins that were assigned to the members for the year ended December 31, 2013. |
| Form 990, Part XI, line 9: | Retirement of capital credits -268,243. Income of subsidiary - equity method 639. Assignment of margins to members 453,709. |
| Form 990, Part XII, Line 2c | The filing organization did not change its processes of oversight or selection for the year ended December 31, 2013. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Direct Controlling NADirectControllingNACd | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Glades Electric Educational Foundation Inc | ||||||||||
| PO Box 519 | Moore Haven | FL | 33471 | 651083705 | Award scholarships | FL | 501(c)(3) | Private Foundation | N/A | Yes (1) |
| Glades Electric Charitable Trust Inc | ||||||||||
| PO Box 519 | Moore Haven | FL | 33471 | 650850177 | Help needy | FL | 501(c)(3) | Community Trust | N/A | 0 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Entity TypeEntityTypeTxt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Share Of Total IncomeShareOfTotalIncomeAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Glades Services Inc | ||||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 650902428 | Holding Company | FL | Glades Electric Cooperative Inc | C | $330,815 | 1.00000 | Yes (1) | |
| Glades Utility Services Inc | ||||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 650902154 | Electric Utlilty Plant Contractor | FL | Glades Services Inc | C | 1.00000 | Yes (1) | $1,560 | |
| Glades Economic Investors Inc | ||||||||||||
| 1190 US Highway 27 East | Moore Haven | FL | 33471 | 651067614 | Real Estate Investments | FL | Glades Services Inc | C | $328,413 | 1.00000 | Yes (1) | $8 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Glades Electric Charitable Trust Inc | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | R | TransactionTypeTxt |
| Involved | $67,015 | InvolvedAmt |
| Method Of Amount Determination | Cash | MethodOfAmountDeterminationTxt |