2013-10-29T11:28:49-04:00 2012-12-31 990 2012-01-01 590196695 CLAY ELECTRIC COOPERATIVE INC CLAY PO BOX 308 Keystone Heights FL 32656 Richard K Davis 3524738000 2013-10-31 2012 2016-02-25 16:41:14Z RICHARD KENNETH DAVIS 342411718 false X WWW.CLAYELECTRIC.COM X 1937 FL TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING EXCELLENT CUSTOMER SERVICE AND RELIABLE ELECTRIC SERVICE AT COMPETITIVE RATES. 9 9 484 476320 0 0 364405698 341581646 300760 334759 270420 485063 364976878 342401468 0 20151609 8165361 5149878 6327381 0 0 339675391 327908726 364976878 342401468 0 535172041 535053473 248461561 245500786 286710480 289552687 TO EXCEED THE EXPECTATIONS OF OUR MEMBERS BY PROVIDING EXCELLENT CUSTOMER SERVICE AND RELIABLE ELECTRIC SERVICE AT COMPETITIVE RATES. false false 342401468 PROVISION OF RELIABLE ELECTRIC SERVICE TO CONSUMERS IN A 15 COUNTY AREA. 342401468 false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false true false false false false false true false false false true X 296 0 true 484 true true false false false false false 335186867 1200031 false X 9 9 false false true false true true true true true false true true true true true true true true true true false FL X RICHARD K DAVIS 3524738000 PO BOX 308 Keystone Heights FL 32656 ANGUS S HASTINGS 15.00 X X 14450 0 0 CLYDE DWIGHT HERSEY 7.00 X 11873 0 0 FLOYD I GNANN 6.00 X 7150 0 0 JOANN R SMITH 8.00 X 9000 0 0 JOHN HENRY WHITEHEAD JR 12.00 X X 14150 0 0 JOSEPH CARL MALPHURS 10.00 X X 13800 0 0 KELLEY R SMITH JR 12.00 X 17950 0 0 LAURA G DEAN 12.00 X 15850 0 0 ROBERT S MULLINS 8.00 X 2300 0 0 SUSAN S REEVES 12.00 X X 15500 0 0 RICHARD KENNETH DAVIS 43.00 X 326384 0 85788 SANFORD MARK MAXWELL 42.00 X 182415 0 62209 HERMAN DYAL 44.00 X 193682 0 130895 HOWARD MILTON MOTT JR 43.00 X 173427 0 39382 WILLIAM K THOMPSON 48.00 X 170900 0 42221 BRUCE ROBERT MCHOLLAN 45.00 X 179826 0 164563 HENRY BARROW 45.00 X 156410 0 53954 JAMES R BEELER JR 40.00 X 146485 0 72992 LOUIE A CHAFF 40.00 X 136029 0 69731 RICHARD A GRAY 40.00 X 156699 0 48003 1944280 0 769738 10 false true false Asplundh Tree Expert Company PO Box 532729 Atlanta GA 303532729 RW Labor 2842118 Gray Construction Services Inc 222 W Wade St Trenton FL 32693 Construction 1414622 Baird Tree Company Inc PO Box 164 Jacksboro TN 37757 RW Labor 1162101 Trimble Navigation Limited PO Box 203558 Dallas TX 75320 Professional Svcs 1132247 Lewis Tree Service Inc PO Box 731897 Dallas TX 75373 RW Labor 1084293 20 ELECTRIC 221000 334509096 334296965 212131 QUALIFIED POLE RENTAL 531390 2688913 2688913 PATRONAGE CAPITAL 900099 4009161 4009161 INTEREST 900099 358766 358766 MERCHANDISING REVENUE 900099 15710 15710 341581646 333961 333961 31232 4548 26684 26684 26684 6500 5702 798 798 798 GAIN-RUS DEBT PREPAYMNT 900099 221672 221672 MOTOR VEHICLE PROGRAM 811000 178653 178653 RIVER CITY PLASTICS 221000 45708 45708 12346 12346 458379 342401468 339236235 476320 2688913 8165361 8165361 1529326 1529326 3878199 3878199 919856 919856 190737 190737 11274452 11274452 18209013 18209013 Cost of Power 246089810 246089810 Distribution Expense 27598496 27598496 Consumer Accounts Expense 13475402 13475402 Administrative & General 3435058 3435058 7635758 7635758 342401468 342401468 0 0 404254 4525276 21400983 50241 18790769 18287834 4841946 4669028 27841246 32634165 602930252 191048356 401990665 411881896 59902178 63005033 535172041 535053473 41174847 43504805 197475540 192475540 1000000 9811174 8520441 248461561 245500786 X 694040 694395 286016440 288858292 286710480 289552687 535172041 535053473 X 0 2842207 X false true X true false 612701 9881904 10494605 171315 14096249 7289685 6977879 513851441 183756322 330095119 64316642 2349 64314293 411881896 NATIONAL RURAL UTILITIES COOP 10227415 C SEMINOLE ELECTRIC COOPERATIVE 49716073 C COBANK 2017057 C OTHER INVESTMENTS IN ASSOC ORG 1044488 C 63005033 OTH NON CURR LIAB -947832 CONSUMER DEPOSITS 9468273 8520441 X 341886333 341886333 515135 515135 342401468 333720971 333720971 8680497 8680497 342401468 D10 Other revenues included on Form 990 Part XI line 4b Product and unrelated business expenses were netted against associated revenues and identified as other non-operating income on our Audited Financial Statements. Revenues included in that audit report line are reflected on Part VIII Statement of Revenue as merchandising, rental and miscellaneous revenue. The amortization of a gain on debt prepayment is reported as an offset to interest expense in the audited financial statements, as required by generally accepted accounting principles. The amount recognized in the audited financial statements is reported on Part VIII-Statement of Revenue as miscellaneous revenue related to the exempt function. D12 Other expenses included on Form 990 Part XII line 4b Product and unrelated business expenses were netted against associated revenues and identified as other non-operating income on our Audited Financial Statements. Revenues included in that audit report line are reflected on Part VIII Statement of Revenue as merchandising, rental and miscellaneous revenue. The amortization of a gain on debt prepayment is reported as an offset to interest expense in the audited financial statements, as required by generally accepted accounting principles. The amount recognized in the audited financial statements is reported on Part VIII-Statement of Revenue as miscellaneous revenue related to the exempt function. Our 2012 net margins of $8,165,361 on our audited financial statements were reflected as an expense on our Form 990. Net margins are paid to our members in the form of capital credits. D13 Footnote for uncertain tax position under FIN 48 Part X Management has evaluated the Cooperative9s tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. X X X false true false RICHARD KENNETH DAVIS 294231 20000 12153 68854 16934 412172 SANFORD MARK MAXWELL 173058 9357 51145 11064 244624 HERMAN DYAL 186148 7534 117968 12927 324577 BRUCE ROBERT MCHOLLAN 173087 6739 161480 3083 344389 HOWARD MILTON MOTT JR 170609 2818 29005 10377 212809 RICHARD A GRAY 155457 1242 40635 7368 204702 HENRY BARROW 155457 953 45828 8126 210364 WILLIAM K THOMPSON 169514 1386 35289 6932 213121 LOUIE A CHAFF 133810 2219 62622 7109 205760 JAMES R BEELER JR 142055 4430 65189 7803 219477 J4 Listed persons compensation information Part I line 4 The organization has agreed on a year to year basis to calculate the value of the difference in the defined benefit plan for the General Manager/CEO in a lump sum form, under the current guidelines of the defined benefit administrator, one with IRS limitations and one without limitations, any positive value will be paid as a taxable payment, in the current year. Richard Davis received $2,432 during 2012. SEMINOLE ELECTRIC COOPERATIVE POWER SUPPLIER 247911614 PURCHASED POWER-NET false SEMINOLE ELECTRIC COOPERATIVE CONTRACTOR -16412 SEE ATTACHED false SEMINOLE ELECTRIC COOPERATIVE FRCC MEMBER -108276 DUES REIMBURSEMENT false SEMINOLE ELECTRIC COOPERATIVE CUSTOMER -6863 SEE ATTACHED false O01 Unrelated business income explanation Part V line 3b Form 990-T is scheduled to be signed and filed on October 29, 2013. O02 Organizational document changes Part VI line 4 Two significant changes were made to our bylaws. The final versions of the amended sections are: 1. Trustees shall not be a related individual to a current trustee or current employee of the Cooperative unless such related current trustee plans not to seek re-election and/or such related employee has given notice of termination of employment prior to the district meeting. Such termination of employment must take effect no later than the date of the annual meeting. 2. The notice of the district meeting sent to each member in that district shall state that an election to select not more than two qualified persons as candidates for trustee shall be made at the meeting. It also removed the five minute minimum requirement for leaving the floor open for nominations at district meetings. O03 Members or stockholder classes and rights Part VI line 6 Clay Electric Cooperative had 138,879 members as of December 31, 2012. O04 Member election for additional members Part VI line 7a Clay Electric Cooperative has nine members on the Board of Trustees. The Board of Trustee members serve three-year terms and each board member represents one trustee district within the co-ops service area. Their terms are staggered in such a way that only three are up for election by the members each year. O05 Governing body decisions Part VI line 7b The business and affairs of the cooperative are managed by a board of trustees which shall exercise all of the powers of the cooperative except such as by law, the articles of incorporation or the bylaws. If an amendment of the bylaws is proposed by the board of trustees the amendment must be presented to the membership. O06 Form 990 governing body review Part VI line 11 The top financial official presented paper copies of the 2012 Form 990 to the Board of Trustees for their review at their monthly board meeting on October 22, 2013. O07 Conflict of interest policy compliance Part VI line 12c It is a requirement that incumbents of certain positions within the Cooperative and the Board of Trustees annually complete and sign the Conflict of Interest Certification and Disclosure Form and deliver it to the General Manager/CEO or Board President. O08 CEO executive director top management comp Part VI line 15a Comparability data was used to determine the Compensation for our CEO and was approved by our Board of Trustees. Board meeting minutes document the deliberations and decisions on the compensation arrangement. Board meeting minutes on November 20, 2012 reflect a performance appraisal and compensation review for our CEO. O09 Other officer or key employee compensation Part VI line 15b Comparability data was used to evaluate the compensation for our other officer and key employees. O10 Governing documents etc available to public Part VI line 19 Our governing documents (included in our Member Handbook), conflict of interest policy and financial statements (included in our Kilowatt Newsletter) are made available to the general public on our website at www.clayelectric.com. O11 Explanation of other changes in net assets or fund balances Part XI line 9 Capital credits assigned for the year was $8,165,361 less net retirements of capital credits of $5,323,509 plus an increase in memberships of $355. O12 General explanation attachment Part IX-Statement of Functional Expenses-In an attempt to maintain consistency in reporting we elected to report our expenses in the same categories used in prior years. CLAY ELECTRIC COOPERATIVE SCHOLARSHIP TRUST INC POB 308 Keystone Heights FL 32656 576205431 PROVIDE SCHOLARSHIPS FL 501c3 Line 9 N/A false CLAY ELECTRIC SERVICES INC PO BOX 308 Keystone Heights FL 32656 591613094 PROVIDE MISC BUSINESS SVCS FL N/A C Corp 1.00000 false false false false false false false false false false false false false false false false false false false