PEDERNALES ELECTRIC COOPERATIVE INC: Form 990, tax year 2013
View the entire original 990 at ProPublica ↗
- Organization
- PEDERNALES ELECTRIC COOPERATIVE INC (EIN 74-0828412)
- Tax period
- 2013-01-01 to 2013-12-31
- Filed
- 2014-05-23
- IRS object ID
- 201441439349300604
- 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 | 2014-05-23T08:44:04-05:00 | ReturnTs |
| Tax Period End | 2013-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750882037 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1 |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 NASHVILLE AVENUE | AddressLine1 |
| City | LUBBOCK | City |
| State | TX | State |
| ZIP Code | 79423 | 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 | 740828412 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEDERNALES ELECTRIC COOPERATIVE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PEDE | BusinessNameControlTxt |
| Phone | 8008684732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1 | AddressLine1 |
| City | JOHNSON CITY | City |
| State | TX | State |
| ZIP Code | 78636 | ZIPCode |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | TRACY GOLDEN | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 8008684732 | PhoneNum |
| Signature | 2014-05-19 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2014-05-19 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| 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 | TRACY GOLDEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1 | AddressLine1 |
| City | JOHNSON CITY | City |
| State | TX | State |
| ZIP Code | 78636 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $599,725,015 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PEC.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 809 | 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 | $564,823,832 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $594,875,880 | CYProgramServiceRevenueAmt |
| PY Investment Income | $243,684 | PYInvestmentIncomeAmt |
| CY Investment Income | $406,104 | CYInvestmentIncomeAmt |
| PY Other Revenue | $3,930,122 | PYOtherRevenueAmt |
| CY Other Revenue | $4,068,090 | CYOtherRevenueAmt |
| PY Total Revenue | $568,997,638 | PYTotalRevenueAmt |
| CY Total Revenue | $599,350,074 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $146,037 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $504,443 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $47,352,800 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $45,828,443 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $71,114,544 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $60,011,500 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $450,773,640 | PYOtherExpensesAmt |
| CY Other Expenses | $488,066,788 | CYOtherExpensesAmt |
| PY Total Expenses | $569,387,021 | PYTotalExpensesAmt |
| CY Total Expenses | $594,411,174 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$389,383 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,938,900 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,382,806,680 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,374,213,325 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $933,310,296 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $885,939,660 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $449,496,384 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $488,273,665 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO FULFILL OUR VISION, WE WILL BE AN ORGANIZATION BASED ON INNOVATION AND EXCELLENCE.VISION: OUR PEC FAMILY IS COMMITTED TO SERVING OUR COMMUNITIES THROUGH EXCELLENT MEMBER SERVICES AND SAFE, RELIABLE ENERGY SERVICES AT A COMPETITIVE PRICE; TO GUIDING RESPONSIBLE STEWARDSHIP OF OUR RESOURCES; AND PROVIDING A REWARDING, FAIR, AND SAFE WORK PLACE FOR OUR EMPLOYEES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 256,072 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. | 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 | Yes (1) | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | 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 | 0 | 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 | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 260 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 809 | 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 | $579,933,584 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $56,502,766 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | 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 | Yes (1) | 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 |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRACY GOLDEN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8308687155 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 SOUTH AVENUE F | AddressLine1 |
| City | JOHNSON CITY | City |
| State | TX | State |
| ZIP Code | 78636 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (25 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| PATRICK COX | |||||||
| PRESIDENT | 20.00 | Yes (X) | Yes (X) | $38,250 | $0 | $0 | |
| WILLIAM BOGGS | |||||||
| VICE PRESIDENT | 30.00 | Yes (X) | Yes (X) | $41,500 | $0 | $0 | |
| CRISTI CLEMENT | |||||||
| SECRETARY/TREASURER | 20.00 | Yes (X) | Yes (X) | $41,500 | $0 | $0 | |
| KATHRYN SCANLON | |||||||
| DIRECTOR | 12.00 | Yes (X) | $38,250 | $0 | $0 | ||
| LARRY LANDAKER | |||||||
| DIRECTOR | 10.00 | Yes (X) | $39,000 | $0 | $0 | ||
| CHRIS PERRY | |||||||
| DIRECTOR | 17.00 | Yes (X) | $38,250 | $0 | $0 | ||
| ROSS FISCHER | |||||||
| DIRECTOR (JANUARY - JUNE 2013) | 2.00 | Yes (X) | $16,500 | $0 | $0 | ||
| JAMES OAKLEY | |||||||
| DIRECTOR (JUNE - DECEMBER 2013) | 10.00 | Yes (X) | $19,500 | $0 | $0 | ||
| RILEY SLOAN | |||||||
| CHIEF EXECUTIVE OFFICER (JANUARY - MARCH 2013) | 40.00 | Yes (X) | $240,656 | $0 | $11,779 | ||
| JOHN HEWA | |||||||
| CHIEF EXECUTIVE OFFICER (JULY - DECEMBER 2013) | 62.00 | Yes (X) | $228,216 | $0 | $7,996 | ||
| FRANK A SKUBE | |||||||
| INTERIM CHIEF EXECUTIVE OFFICER (MARCH - JULY 2013 | 40.00 | Yes (X) | $215,627 | $0 | $31,578 | ||
| FREDDY WOLFF | |||||||
| INTERIM CHIEF FINANCIAL OFFICER | 60.00 | Yes (X) | $189,393 | $0 | $17,285 | ||
| EDWARD A DAUTERIVE | |||||||
| VP, MEMBER SERVICES | 60.00 | Yes (X) | $195,163 | $0 | $46,106 | ||
| DALE A JONES | |||||||
| VP, POWER SUPPLY | 50.00 | Yes (X) | $193,913 | $0 | $42,380 | ||
| LLOYD MCKEE | |||||||
| VP, OPERATIONS | 65.00 | Yes (X) | $201,586 | $0 | $53,546 | ||
| MICHAEL J RACIS | |||||||
| VP, COMMUNICATIONS | 65.00 | Yes (X) | $180,789 | $0 | $39,907 | ||
| LAWANDA PARNELL | |||||||
| CHIEF INFORMATION OFFICER | 40.00 | Yes (X) | $224,699 | $0 | $17,506 | ||
| BRENT BAILEY | |||||||
| GENERAL COUNSEL | 40.00 | Yes (X) | $194,769 | $0 | $34,530 | ||
| PETE SLOVER | |||||||
| INTERIM VP, LEGAL | 50.00 | Yes (X) | $187,137 | $0 | $41,741 | ||
| JULIE BEGGS | |||||||
| VP, CORPORATE SERVICES | 60.00 | Yes (X) | $186,899 | $0 | $35,544 | ||
| ROBERT PETERSON | |||||||
| SR. DIRECTOR, ENGINEERING | 40.00 | $209,298 | $0 | $39,317 | Yes (X) | ||
| ROBERT DIFONZO | |||||||
| DIRECTOR, DISTRICT OPERATIONS | 40.00 | $189,268 | $0 | $38,475 | Yes (X) | ||
| MICHELLE GALLOWAY | |||||||
| DIRECTOR, DISTRICT OPERATIONS | 45.00 | $179,465 | $0 | $40,097 | Yes (X) | ||
| HERBERT GREBE | |||||||
| KEY ACCOUNTS MANAGER | 40.00 | $180,956 | $0 | $44,500 | Yes (X) | ||
| ARCENIO LOPEZ | |||||||
| DIRECTOR, SYSTEM MAINTENANCE | 40.00 | $192,889 | $0 | $28,434 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,663,473 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $570,721 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 44 | 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 |
|---|---|---|---|---|---|
| T&D SOLUTIONS LLC | |||||
| 6411 MASONIC DRIVE | ALEXANDRIA | LA | 71301 | ELECTRIC DIST SUB-CONTRACTOR | $7,170,251 |
| LAMBDA CONSTRUCTION LTD | |||||
| 211 JESSES CIRCLE | NEW BRAUNFELS | TX | 78132 | CONSTRUCTION SERVICES | $1,871,886 |
| WILLBROS T&D SERVICES LLC | |||||
| 115 W 7TH STREET SUITE 1420 | FORT WORTH | TX | 76102 | ELECTRIC DIST SUB-CONTRACTOR | $1,804,270 |
| FRONT LINE POWER CONSTRUCTION LLC | |||||
| 4202 CHANCE LANE | ROSHARON | TX | 77583 | ELECTRIC DIST SUB-CONTRACTOR | $1,500,482 |
| ASPLUNDH TREE EXPERT COMPANY | |||||
| 708 BLAIR MILL ROAD | WILLOW GROVE | PA | 19090 | VEGETATION MANAGEMENT SERVICES | $1,323,753 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 47 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ELECTRIC SALES | 221000 | $568,047,553 | $568,047,553 |
| CUSTOMER SERVICE FEES | 221000 | $11,886,030 | $11,886,030 |
| TRANSMISSION ACCESS | 221000 | $8,039,891 | $8,039,891 |
| TRANSMISSION LEASE | 221000 | $5,201,891 | $5,201,891 |
| PATRONAGE DIVIDEND | 221000 | $1,390,952 | $1,390,952 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $309,563 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $309,563 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $594,875,880 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $342,476 | TotalRevenueColumnAmt |
| Exclusion | $342,476 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $3,873,590 | 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 | $3,873,590 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,873,590 | TotalRevenueColumnAmt |
| Exclusion | $3,873,590 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $438,569 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $374,941 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $63,628 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $63,628 | TotalRevenueColumnAmt |
| Exclusion | $63,628 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISC NON-OPERATING REVENUE | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $194,500 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $194,500 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $194,500 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $599,350,074 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $595,070,380 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,279,694 | 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 | $504,443 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $45,828,443 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,091,495 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,411,068 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,146,400 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,650,750 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,711,787 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,359,981 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,539,821 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $343,552,629 |
| DISTRIBUTION EXPENSE | $20,630,052 |
| ADMIN & GENERAL EXPENSE | $13,816,835 |
| CUSTOMER SERVICE | $11,029,096 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,138,374 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $594,411,174 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,600,727 | BOYAmt |
| EOY | $62,703,927 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,335,346 | BOYAmt |
| EOY | $53,918,392 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,908,875 | BOYAmt |
| EOY | $22,552,944 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,371,149 | BOYAmt |
| EOY | $1,583,085 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,434,942,958 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $275,768,895 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,138,295,454 | BOYAmt |
| EOY | $1,159,174,063 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,000,000 | BOYAmt |
| EOY | $14,000,000 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,375,588 | BOYAmt |
| EOY | $11,310,714 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,524,184 | BOYAmt |
| EOY | $43,189,469 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,395,357 | BOYAmt |
| EOY | $5,780,731 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,382,806,680 | BOYAmt |
| EOY | $1,374,213,325 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,726,779 | BOYAmt |
| EOY | $69,782,603 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $576,902 | BOYAmt |
| EOY | $478,624 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $711,477,657 | BOYAmt |
| EOY | $686,715,367 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,528,958 | BOYAmt |
| EOY | $128,963,066 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $933,310,296 | BOYAmt |
| EOY | $885,939,660 | 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 | $9,990,459 | BOYAmt |
| EOY | $10,328,522 | 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 | $439,505,925 | BOYAmt |
| EOY | $477,945,143 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $449,496,384 | BOYAmt |
| EOY | $488,273,665 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,382,806,680 | BOYAmt |
| EOY | $1,374,213,325 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,938,900 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $33,838,381 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,030,439 | OtherCostOrOtherBasisAmt |
| Book Value | $10,030,439 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $50,169,999 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,734,127 | DepreciationAmt |
| Book Value | $39,435,872 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,336,213,451 | OtherCostOrOtherBasisAmt |
| Depreciation | $265,022,883 | DepreciationAmt |
| Book Value | $1,071,190,568 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $38,529,069 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,885 | DepreciationAmt |
| Book Value | $38,517,184 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,159,174,063 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (7 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCUMULATED PROVISION FOR PENSION AND BENEFITS | $99,153,036 |
| POWER COST ADJUSTMENT | $1,168,414 |
| ACCRUED TAXES | $8,546,107 |
| ACCRUED INTEREST | $4,540,412 |
| CONSUMER DEPOSITS | $4,816,072 |
| OTHER CURRENT AND ACCRUED LIABILITIES | $3,639,825 |
| DEFERRED CREDITS | $7,099,200 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $128,963,066 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $599,350,074 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $599,350,074 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $599,350,074 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $548,582,731 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $548,582,731 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $45,828,443 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $45,828,443 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $594,411,174 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ECONOMIC DEVELOPMENT FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR THE STIMULATION AND IMPROVEMENT OF BUSINESS AND COMMERCIAL ACTIVITY FOR ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES. ANY AMOUNTS SO DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ENERGY EFFICIENCY ASSISTANCE FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. THE AMOUNTS DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED TO ASSIST MEMBERS OF AN ELECTRIC COOPERATIVE IN REDUCING THEIR ENERGY CONSUMPTION AND ELECTRICITY BILLS. ANY AMOUNTS SO DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. |
| PART X, LINE 2: | THE COOPERATIVE FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| FORM 990, PAGE 11, PART X, LINE 15 | PART VII THE AMOUNT OF INVESTMENTS - OTHER SECURITIES ON FORM 990, PAGE 11, PART X, LINE 12 DOES NOT EQUAL OR EXCEED 5 PERCENT OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS SCHEDULE D, PART VII HAS BEEN LEFT BLANK. PART VIII THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 DOES NOT EQUAL OR EXCEED 5 PERCENT OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS SCHEDULE D, PART VIII HAS BEEN LEFT BLANK. PART IX THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5 PERCENT OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY IN ACCORDANCE WITH IRS INSTRUCTIONS SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B PATRONAGE CAPITAL ASSIGNABLE - $45,828,443 FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (6 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| PEC UNITED CHARITIES | |||||||
| PO BOX 1 | JOHNSON CITY | TX | 78636 | 742491188 | 501 (C) (3) | $134,750 | EMPLOYER MATCHING DONATIONS |
| CITY OF BUDA | |||||||
| PO BOX 1218 | BUDA | TX | 78610 | 741707220 | GOVERNMENT ENTITY | $25,000 | PURCHASE AND INSTALL LED LIGHTING AND SIGNS |
| CITY OF CREEDMOOR | |||||||
| 5008 HARTUNG LN | CREEDMOOR | TX | 78610 | 740719263 | GOVERNMENT ENTITY | $25,000 | PURCHASE AND INSTALL LED LIGHTING AND SIGNS |
| CITY OF KYLE | |||||||
| 100 W CENTER ST | KYLE | TX | 78640 | 741472324 | GOVERNMENT ENTITY | $25,000 | PURCHASE AND INSTALL LED LIGHTING AND SIGNS |
| CITY OF BLANCO | |||||||
| 300 PECAN ST | BLANCO | TX | 78606 | 746003502 | GOVERNMENT ENTITY | $20,007 | PURCHASE AND INSTALL LED LIGHTING AND SIGNS |
| CITY OF JUNCTION | |||||||
| 730 MAIN STREET | JUNCTION | TX | 76849 | 746001471 | GOVERNMENT ENTITY | $11,500 | PURCHASE AND INSTALL LED LIGHTING AND SIGNS |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 6 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FROM 990, SCHEDULE I, PART IV | FormAndLineReferenceDesc |
| Explanation | THE COOPERATIVE SUPPORTS LOCAL GOVERNMENTS, SCHOOLS, CHARITIES, CIVIC ORGANIZATIONS, VOLUNTEER FIRE DEPARTMENTS AND THE LIKE IN THE TWENTY-FOUR COUNTY AREA IN WHICH IT PROVIDES ELECTRICITY TO ITS MEMEBERS. SUPPORT THROUGH GRANTS AND DONATIONS IS PROVIDED THROUGH VARIOUS PROGRAMS, INCLUDING THE PEC COMMUNITY GRANT PROGRAM, LIGHT THE WAY PROGRAM, PARTNERS IN LEARNING PROGRAM, PROJECT GRADUATION AND LIVESTOCK SHOW CONTRIBUTIONS. THE COOPERATIVE'S WEBSITE, WWW.PEC.COOP, PROVIDES A DESCRIPTION OF THE REQUIREMENTS AND APPLICATION PROCESS OF EACH PROGRAM. THE LARGER GRANTS ARE AWARDED VIA APPLICATION AND A GRANT COMMITTEE THAT INSURES THE FUNDS ARE BEING UTILIZED FOR THE INTENDED PROCESSES. THE COOPERATIVE ALSO PROVIDES MATCHING CONTRIBUTIONS TO THE PEC UNITED CHARITIES, WHICH ALSO PROVIDES SIMILAR GRANTS AND CONTRIBUTIONS BASED THROUGH AN APPLICATION PROCESS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (17 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RILEY SLOAN | ||||||||||||||
| CHIEF EXECUTIVE OFFICER (JANUARY - M | $131,419 | $0 | $52,049 | $0 | $57,188 | $0 | $8,750 | $0 | $3,029 | $0 | $252,435 | $0 | $0 | $0 |
| JOHN HEWA | ||||||||||||||
| CHIEF EXECUTIVE OFFICER (JULY - DECE | $201,923 | $0 | $20,553 | $0 | $5,740 | $0 | $0 | $0 | $7,996 | $0 | $236,212 | $0 | $0 | $0 |
| FRANK A SKUBE | ||||||||||||||
| INTERIM CHIEF EXECUTIVE OFFICER (MAR | $194,038 | $0 | $13,503 | $0 | $8,086 | $0 | $17,038 | $0 | $14,540 | $0 | $247,205 | $0 | $0 | $0 |
| FREDDY WOLFF | ||||||||||||||
| INTERIM CHIEF FINANCIAL OFFICER | $173,260 | $0 | $6,044 | $0 | $10,089 | $0 | $10,731 | $0 | $6,554 | $0 | $206,678 | $0 | $0 | $0 |
| EDWARD A DAUTERIVE | ||||||||||||||
| VP, MEMBER SERVICES | $182,310 | $0 | $10,939 | $0 | $1,914 | $0 | $16,563 | $0 | $29,543 | $0 | $241,269 | $0 | $0 | $0 |
| DALE A JONES | ||||||||||||||
| VP, POWER SUPPLY | $174,025 | $0 | $6,929 | $0 | $12,959 | $0 | $25,735 | $0 | $16,645 | $0 | $236,293 | $0 | $0 | $0 |
| LLOYD MCKEE | ||||||||||||||
| VP, OPERATIONS | $184,801 | $0 | $7,342 | $0 | $9,443 | $0 | $29,755 | $0 | $23,791 | $0 | $255,132 | $0 | $0 | $0 |
| MICHAEL J RACIS | ||||||||||||||
| VP, COMMUNICATIONS | $166,006 | $0 | $6,494 | $0 | $8,289 | $0 | $16,601 | $0 | $23,306 | $0 | $220,696 | $0 | $0 | $0 |
| LAWANDA PARNELL | ||||||||||||||
| CHIEF INFORMATION OFFICER | $205,000 | $0 | $7,712 | $0 | $11,987 | $0 | $11,038 | $0 | $6,468 | $0 | $242,205 | $0 | $0 | $0 |
| BRENT BAILEY | ||||||||||||||
| GENERAL COUNSEL | $188,312 | $0 | $0 | $0 | $6,457 | $0 | $17,160 | $0 | $17,370 | $0 | $229,299 | $0 | $0 | $0 |
| PETE SLOVER | ||||||||||||||
| INTERIM VP, LEGAL | $172,959 | $0 | $6,523 | $0 | $7,655 | $0 | $17,296 | $0 | $24,445 | $0 | $228,878 | $0 | $0 | $0 |
| JULIE BEGGS | ||||||||||||||
| VP, CORPORATE SERVICES | $171,569 | $0 | $10,058 | $0 | $5,272 | $0 | $17,157 | $0 | $18,387 | $0 | $222,443 | $0 | $0 | $0 |
| ROBERT PETERSON | ||||||||||||||
| SR. DIRECTOR, ENGINEERING | $192,400 | $0 | $15,958 | $0 | $940 | $0 | $29,238 | $0 | $10,079 | $0 | $248,615 | $0 | $0 | $0 |
| ROBERT DIFONZO | ||||||||||||||
| DIRECTOR, DISTRICT OPERATIONS | $164,370 | $0 | $9,862 | $0 | $15,036 | $0 | $30,102 | $0 | $8,373 | $0 | $227,743 | $0 | $0 | $0 |
| MICHELLE GALLOWAY | ||||||||||||||
| DIRECTOR, DISTRICT OPERATIONS | $162,293 | $0 | $9,763 | $0 | $7,409 | $0 | $16,229 | $0 | $23,868 | $0 | $219,562 | $0 | $0 | $0 |
| HERBERT GREBE | ||||||||||||||
| KEY ACCOUNTS MANAGER | $163,573 | $0 | $9,814 | $0 | $7,569 | $0 | $20,079 | $0 | $24,421 | $0 | $225,456 | $0 | $0 | $0 |
| ARCENIO LOPEZ | ||||||||||||||
| DIRECTOR, SYSTEM MAINTENANCE | $168,607 | $0 | $11,802 | $0 | $12,480 | $0 | $16,413 | $0 | $12,021 | $0 | $221,323 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE J, PART I, QUESTION 4A | FormAndLineReferenceDesc |
| Explanation | RILEY SLOAN RECEIVED A TOTAL OF $52,500 IN SEVERANCE PAY. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (21 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 19 | IN GENERAL, WHEN AN ELECTRIC COOPERATIVE BASES THE PATRONAGE DIVIDEND CALCULATION ON ITS NET BOOK INCOME, PAGE 1, PART I, LINE 19 - REVENUE LESS EXPENSES - WILL BE $0. FOR THE CURRENT YEAR, PAGE 1 , PART I, LINE 19 REPORTS NET INCOME OF $4,938,900, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE. THE GAAP BASIS FINANCIAL STATEMENTS INCLUDE AN ACCRUAL FOR UNBILLED REVENUE BECAUSE THE COOPERATIVE'S BILLING CYCLE DOES NOT END ON THE LAST DAY OF THE MONTH. THEREFORE, IT HAS REVENUE IN DECEMBER OF EACH YEAR THAT IT HAS EARNED BUT WILL NOT BILL UNTIL THE FIRST BILLING CYCLE OF THE FOLLOWING YEAR. THE COOPERATIVE ESTIMATES THIS REVENUE AND RECORDS IT AS ACCRUED UNBILLED REVENUE IN ORDER TO MATCH THE REVENUE WITH THE YEAR EARNED. HOWEVER, THE COOPERATIVE ALLOCATES THE REVENUE TO MEMBERS IN THE YEAR IT IS BILLED, AND NOT WHEN ACCRUED AND RECORDED, IN ORDER TO MATCH THE BILLING RECORDS WITH THE PATRONAGE DIVIDENDS BEING ALLOCATED. THIS TIMING DIFFERENCE IS FAIR AND EQUITABLE BECAUSE IT MATCHES THE PATRONAGE DIVIDEND BEING ALLOCATED WITH THE MEMBER BEING BILLED FOR THE ELECTRICITY. DUE TO THE TIMING OF WHEN THE COOPERATIVE ALLOCATES ACCRUED UNBILLED REVENUE, PAGE 1 , PART I, LINE 19 ANNUALLY REPORTS NET INCOME EQUAL TO THE NET INCREASE IN ACCRUED UNBILLED REVENUE OR A NET LOSS EQUAL TO THE NET DECREASE IN UNBILLED REVENUE. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: UNBILLED REVENUE 12/31/13 $26,404,200 UNBILLED REVENUE 12/31/12 (21,465,300) INCREASE EQUALS INCOME ON LINE 19 (A) $4,938,900 NET MARGIN PER GAAP BASIS INCOME STATEMENT FOR THE CURRENT YEAR (B) $50,767,343 PART I, LINE 14 - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIENDS) B - A $45,828,443 |
| FORM 990, PART VI, SECTION A, LINE 4 | ARTICLE III, SECTION 1 WAS AMENDED TO CLARIFY THE FACTORS UPON WHICH THE DIRECTORS MAY REVISE DISTRICT BOUNDARIES SO THAT DISTRICTS MAY EQUITABLY REPRESENT THE MEMBERS. ARTICLE III, SECTION 2 WAS AMENDED TO CLARIFY THE INITIAL AND ONGOING QUALIFICATIONS FOR SERVING ON THE BOARD OF DIRECTORS, INCLUDING, BUT NOT LIMITED TO, EDUCATION, MEMBERSHIP, CONTINUOUS RECEIPT OF ELECTRIC SERVICE, AND CONFLICT OF INTEREST CERTIFICATION. ARTICLE III, SECTION 3 WAS AMENDED TO (1) STATE THAT NOMINATIONS FOR DIRECTORS MAY BE EXECUTED BY FIFTY OR MORE MEMBERS WITH VOTING RESIDENCE WITHIN THE DIRECTOR DISTRICT WITHIN THE ELECTION IS BEING HELD, (2) PROVIDE FOR INFORMATION REQUIRED TO BE INCLUDED WITH THE DIRECTOR NOMINATION PETITION AND THE TIMING FOR WHEN SUCH PETITION IS TO BE RECEIVED BY THE COOPERATIVE, AND (3) CREATE A QUALIFICATIONS REVIEW COMMITTEE FOR VERIFYING THE QUALIFICATIONS OF DIRECTOR NOMINEES. ARTICLE III, SECTION 5 WAS AMENDED TO (1) PROVIDE THAT A DIRECTOR MAY BE REMOVED WITH GOOD CAUSE WITH A TWO THRIDS VOTE OF THE BOARD AND THAT SUCH ACTION MAY INVOLVE COURT ACTION AND (2) PROVIDE THAT A DIRECTOR MAY BE REMOVED BY MEMBER PETITION IF SUCH PETITION IS SIGNED AND APPROVED BY 10% OF THE MEMBERS. ARTICLE III, SECTION 6 WAS AMENDED TO (1) CLARIFY THE PROCEDURES FOR FILLING VACANCY ON THE BOARD AND (2) INCLUDE A PROCESS FOR APPOINTING DIRECTORS IN THE EVENT OF A CATASTROPHIC LOSS OF DIRECTORS. ARTICLE III, SECTION 8 OF THE COOPERATIVE'S BYLAWS WERE AMENDED TO ALLOW DIRECTORS, MANAGERS, OFFICERS, EMPLOYEES OR PERSONS APPOINTED TO A COMMITTEE UNDER THE BYLAWS TO NOT BE LIABLE TO THE COOPERATIVE OR ITS MEMBERS FOR MONETARY DAMAGES FOR AN ACT OR OMISSION IN THAT PERSON'S PERFORMANCE OF FUNCTIONS FOR THE COOPERATIVE MADE IN GOOD FAITH. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE. 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE; 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION; 3. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS; AND 4. AMENDMENTS TO ARTICLES OF INCORPORATION. ADDITIONALLY, PEC BYLAWS RESERVE TO MEMBERSHIP THE POWER TO REMOVE DIRECTORS FROM THE BOARD BY A VOTE OF 10% OF THE MEMBERSHIP, WITH NO REQUIREMENT FOR BOARD APPROVAL. THE BYLAWS ALSO ALLOW MEMBERS TO CALL A MEETING BY A PETITION SIGNED BY AT LEAST 10% OF MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11 | MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL COMPLETION OF A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM BY ALL DIRECTORS, OFFICERS, KEY EMPLOYEES, OR MANAGERS OF THE COOPERATIVE. THE FORM, WHICH IS PART OF THE POLICY, INCLUDES AN AFFIRMATION THAT THE INDIVIDUAL WILL INFORM THE BOARD OF ANY NEW CONFLICT AFFECTING THEMSELVES OR ANY OTHER PERSON. EACH JANUARY, THESE DOCUMENTS ARE SOLICITED AND GATHERED BY THE CUSTODIAN OF THESE RECORDS, WHICH INCLUDES THE BOARD'S SECRETARY FOR BOARD MEMBERS AND PEC'S HUMAN RESOURCES DEPARTMENT FOR APPLICABLE EMPLOYEES. APPLICABLE PERSONS WHO JOIN THE COOPERATIVE ARE SUBJECT TO THE POLICY AND ARE REQUIRED TO FILE THE FORM AT THE OUTSET OF THEIR EMPLOYMENT OR DIRECTORSHIP. THE FIELD REPORTS ARE FORMALLY ACCEPTED BY THE BOARD PRESIDENT AND MADE A PART OF THE PUBLIC RECORD AT A MEETING OPEN TO COOPERATIVE MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 15 | A COMPREHENSIVE COMPENSATION ASSESSMENT IS RUN ON NEWLY PROMOTED OR NEWLY HIRED EXECUTIVE POSITIONS TO DETERMINE THE MOST APPROPRIATE BEGINNING SALARY FOR THAT POSITION. THE COMPARABLE MARKET USED IS THAT OF A COMPANY IN THE ENERGY AND UTILITIES INDUSTRY IN AUSTIN, TEXAS WITH 500-1000 FULL TIME EQUIVALENTS. INDIVIDUAL FACTORS ARE ALSO USED IN DETERMINING THE APPROPRIATE BEGINNING SALARY. THESE INDIVIDUAL FACTORS INCLUDE EMPLOYEE TRAITS, SUCH AS YEARS OF EXPERIENCE, EDUCATION, AND CERTIFICATIONS, AS WELL AS, JOB TRAITS, SUCH AS TO WHOM THE POSITION REORTS, NUMBER OF DIRECT REPORTS, AND JOB DUTIES. POSITIONS ARE MOST CLOSELY MATCHED TO A JOB DESCRIPTION IN THE COMPENSATION DATABASE WITH SIMILAR JOB DUTIES, EDUCATION, AND EXPERIENCE REQUIREMENTS. IN SOME CASES, DEPENDING ON THE POSITION, A HYBRID OF THE JOB IS COMPLETED TO MORE ACCURATELY REFLECT THE PEC POSITION JOB DUTIES. THE BEGINNING PROPOSED BASE SALARY IS BETWEEN THE 25TH AND 50TH PERCENTILE OF THE PREDICTED MEDIAN MARKET SALARY TAKING INTO CONSIDERATION TOTAL COMPENSATION. THE COST OF BENEFITS FOR PEC AT THIS LEVEL IS TYPICALLY BETWEEN 21% AND 45%. THE COST OF BENEFITS FOR THE MARKET IS TYPICALLY BETWEEN 23% AND 32%. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERTIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE COOPERTIVE'S WEBSITE. INFORMATION NOT POSTED ON THE WEBSITE IS AVAILABLE UPON REQUEST. |
| FORM 990, PART VI, QUESTION 9 | THE NAMES AND ADDRESSES OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES, WHO CANNOT BE REACHED AT THE COOPERATIVE ARE AS FOLLOWS: BRENT BAILEY 2147 TEJAS TRAIL BLANCO, TX 78606 ROSS FISCHER P.O. BOX 312 KENDALIA, TX 78027 RILEY (RB) SLOAN 106 UNION CHAPEL ROAD MOORESVILLE, NC 28117 FRANK SKUBE 286 LANDON'S WAY BLANCO, TX 78606 PETE SLOVER 1036 HIDDEN HILLS DRIPPING SPRINGS, TX 78620 |
| FORM 990, PART VII, COLUMN F | IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE PROVIDES A DEFINED BENEFIT PLAN TO EMPLOYEES MEETING THE ELIGIBILITY REQUIREMENTS. HOWEVER, THE PLAN WAS CLOSED TO NEW PARTICIPANTS AFTER JANUARY 1, 2006. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. ADDITIONALLY, THE COOPERTIVE PARTICIPATES IN A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS, MEETING THE ELIGIBILITY REQUIREMENTS OF THE PLAN. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS, THROUGH A QUALIFIED PLAN. THE AMOUNT REPORTED ON PART VII COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE ACTUARIAL INCREASE ASSOCIATED WITH PARTICIPATION IN THE DEFINED BENEFIT PLAN, IF APPLICABLE,THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE 401(K) PLAN AND INSURANCE PAID ON BEHALF OF AND FOR BENEFIT OF THE OFFICERS. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE PER PERSON VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. |
| FORM 990, PART VIII, LINE 2 | PATRONAGE DIVIDENDS RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. |
| FORM 990, PART IX | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED SUBSTANTIALLY IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS AS PRESCRIBED BY THE FEDERAL ENERGY REGULATORY COMMISSION FOR CLASS A AND B ELECTRIC UTILITIES, MODIFIED FOR BORROWERS OF THE NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION. THE UNIFORM SYSTEM OF ACCOUNTING DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1 - 23. THE COOPERATIVE WILL BREAK OUT SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1 - 23 WILL BE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE UNIFORM SYSTEM OF ACCOUNTS. |
| FORM 990, PART IX, LINE 24 | THE FOLLOWING IS A BREAKDOWN OF GENERAL AND ADMINISTRATIVE EXPENSES REPORTED ON FORM 990, PART IX, LINE 24. OFFICE SUPPLIES EXPENSE $2,201,248 CONTRACT SERVICES 4,968,029 INJURIES & DAMAGES 321,731 RENTS 526,562 MAINTENANCE OF GENERAL PLANT 1,315,623 GENERAL EXPENSES 4,483,642 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $13,816,835 |
| FORM 990, PART IX, LINES 5-7 | RECONCILIATION OF WAGES PER RETURN TO TOTAL WAGES ACCRUED AND/OR PAID-SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. IN AN EFFORT TO EXPLAIN WHY THE AMOUNTS REPORTED ON LINES 5-7 DO NOT AGREE TO THE TOTAL WAGES ACCRUED AND/OR PAID THE FOLLOWING RECONCILIATION IS PROVIDED. TOTAL PER LINES 5-7 $37,502,563 LESS DIRECTORS FEES REPORTED ON 1099-MISC (272,750) LESS EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (379,898) PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS 13,994,465 TOTAL WAGES ACCRUED AND/OR PAID $50,844,380 |
| FORM 990, PART IX, LINE 4 | THE FORM 990 INSTRUCTIONS SPECIFICALLY STATE THAT THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS MEMBERS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS MEMBERS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS MEMBERS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR MEMBERS, AND (3) IN A FAIR AND EQUITABLE BASIS ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS AND IS SUMMARIZED AS FOLLOWS: (A) IN ORDER TO INDUCE PATRONAGE AND TO ASSURE THAT THE COOPERATIVE WILL OPERATE ON A NONPROFIT BASIS, THE COOPERATIVE IS OBLIGATED TO ACCOUNT ON A PATRONAGE BASIS TO ALL ITS MEMBERS FOR ALL AMOUNTS RECEIVED AND RECEIVABLE FROM THE FURNISHING OF ELECTRIC ENERGY IN EXCESS OF OPERATING COSTS AND EXPENSES PROPERLY CHARGEABLE AGAINST SUCH SERVICES (I.E. MARGINS FROM THE PROVISION OF ELECTRIC ENERGY). (B) THE MARGINS FROM THE PROVISION OF ELECTRIC ENERGY ARE RECEIVED WITH THE UNDERSTANDING THAT THEY ARE FURNISHED BY THE MEMBERS AS CAPITAL. (C) THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH MEMBER FOR ALL SUCH MARGINS. AND (D) ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY MEMBER SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE MEMBER IN CASH IN PURSUANCE OF A LEGAL OBLIGATION TO DO SO AND THE MEMBER HAD THEN FURNISHED TO THE COOPERATIVE CORRESPONDING AMOUNTS OF CAPITAL. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2013 CALENDAR YEAR. AS NOTED ABOVE, SUCH AMOUNTS ARE ALLOCATED SUBSEQUENT TO YEAR-END IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). THE AMOUNTS ALLOCATED ARE REPRESENTATIVE OF THE MARGINS FROM THE PROVISION OF ELECTRIC ENERGY TO THE MEMBERS AND ARE DONE PURSUANT TO THE OBLIGATION THAT EXISTED IN THE BYLAWS PRIOR TO THE COOPERATIVE PROVIDING ELECTRICITY TO ITS MEMBERS. THEREFORE, THESE AMOUNTS MEET THE DEFINITION OF THE TERM "PATRONAGE DIVIDENDS PAID". PLEASE NOTE, HOWEVER, THAT BECAUSE PATRONAGE DIVIDENDS IS THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS MEMBERS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED THE AMOUNT OF ITS 2013 MARGIN THAT HAS BEEN OR IS TO BE ALLOCATED TO THE MEMBERS SUBSEQUENT TO YEAR-END. SUCH AMOUNTS ARE AN EXPENSE FOR FORM 990 REPORTING AND IS NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. AS A RESULT, THE DIFFERENCE BETWEEN THE COOPERATIVE'S GAAP BASIS FINANCIAL STATEMENTS AND THE REVENUE LESS EXPENSES REPORTED ON PART I, LINE 19 IS THE AMOUNT OF PATRONAGE DIVIDENDS REPORTED AS BENEFITS PAID TO MEMBERS. |
| FORM 990, PART IX, LINE 24E | THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS OTHER EXPENSES ON FORM 990, PART IX, LINE 24E SALES EXPENSE $255,850 TRANSMISSION EXPENSE 1,855,561 FRANCHISE FEES 6,173,975 GROSS RECEIPTS TAXES 849,213 OTHER DEDUCTIONS 3,775 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $9,138,374 |
| FORM 990, PART X, LINES 12, 13, 21, 25, 30 AND 31 | THE COOPERATIVE HAS DETERMINED THAT INVESTMENTS IN ASSOCIATED ORGANIZATIONS SHOULD BE INCLUDED ON PART X, LINE 13 IN 2013. TO INCREASE CONSISTENCY, THE INVESTMENTS IN ASSOCIATED ORGANIZATIONS AMOUNT FROM THE PRIOR YEAR HAS BEEN RECLASSIFIED FROM LINE 12 TO LINE 13. THE COOPERATIVE HAS DETERMINED THAT ECONOMIC DEVELOPMENT AND ENERGY EFFICIENCY ASSISTANCE PROGRAM LIABILITIES SHOULD BE INCLUDED ON PART X, LINE 21 IN 2013. TO INCREASE CONSISTENCY, THE ECONOMIC DEVELOPMENT AND ENERGY EFFICIENCY ASSISTANCE PROGRAM LIABILITIES FROM THE PRIOR YEAR HAS BEEN RECLASSIFIED FROM LINE 25 TO LINE 21. THE COOPERATIVE HAS DETERMINED MEMBERSHIP CERTIFICATES SHOULD BE REPORTED ON LINE 30 AS CAPITAL STOCK RATHER THAN ON LINE 31 AS PAID IN CAPITAL. TO INCREASE CONSISTENCY, THE BALANCE FOR MEMBERSHIP CERTIFICATES FROM THE PRIOR YEAR HAVE BEEN RECLASSIFIED FROM LINE 31 TO LINE 30. |
| FORM 990, PART XI, LINE 9: | NET CHANGE IN MEMBERSHIPS 338,063. RETIREMENT OF PATRONAGE CAPITAL - TOTAL -42,905,233. RETIREMENT OF PATRONAGE CAPITAL - DISCOUNT 30,577,107. PATRONAGE CAPITAL ASSIGNABLE 45,828,444. |
| FORM 990, PART XII, LINE 2C | THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. |
| SCHEDULE R, PART II - RELATED EXEMPT ORGANIZATIONS | IN RECENT YEARS, THE COOPERATIVE HAS NOT REPORTED PEC UNITED CHARITIES, INC. (74-2491188) AS A RELATED ORGANIZATION. THE COOPERATIVE TOOK THIS POSITION DUE TO THE FACT PEC UNITED CHARITIES (UC) WAS ORGANIZAED BY EMPLOYEES OF THE COOPERATIVE AND HAS A SELF-PERPETUATING BOARD OF DIRECTORS. THE COOPRATIVE PROVIDES MATCHING CONTRIBUTIONS BUT DOES NOT EXERCISE CONTROL OVER DECISIONS MADE BY THE UC BOARD OF DIRECTORS. ADDITIONALLY, THE COOPERATIVE ALSO PROVIDES ACCOUNTING SUPPORT BUT DOES NOT HAVE THE ABILITY TO REPLACE OR APPOINT DIRECTORS TO THE BOARD OF UC. BUT FOR THE FACT A MAJORITY OF THE BOARD OF DIRECTORS OF UC ARE EMPLOYEES OF THE COOPERATIVE, UC IS GENERALLY NOT REGARDED AS A SUBSIDIARY OR AFFILIATE OF THE COOPERATIVE. IN ORDER TO INSURE THAT IT IS NOT CONTROLLED BY THE COOPERATIVE AND IS NOT A RELATED ORGANIZATION, THE BYLAWS OF UC ARE BEING AMENDED SO THAT NOT MORE THAN 50% OF ITS BOARD OF DIRECTORS IS COMPRISED OF EMPLOYEES OF THE COOPERATIVE. BECAUSE OF THE CHANGES BEING MADE IN THE GOVERNING BODY OF UC, THE COOPERATIVE HAS CONTINUED WITH ITS RECENT POSITION OF NOT REPORTING PEC UNITED CHARITIES ON SCHEDULE R AS A RELATED ORGANIZATION. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND | BusinessNameLine1 |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 S AVENUE F | AddressLine1 |
| City | JOHNSON CITY | City |
| State | TX | State |
| ZIP Code | 78636 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 742897600 | EIN |
| Primary Activities | TO PROVIDE SCHOLARSHIPS FOR POST-SECONDARY EDUCATION | PrimaryActivitiesTxt |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | PF | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEDERNALES ELECTRIC COOPERATIVE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| 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 | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt |
|---|
| PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND - NA LESS THAN 50000 |
| O |
| PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND - NA LESS THAN 50000 |
| Q |