SOUTHEASTERN ELECTRIC COOPERATIVE INC: Form 990, tax year 2012

View the entire original 990 at ProPublica ↗

Organization: SOUTHEASTERN ELECTRIC COOPERATIVE INC (EIN 73-0457520)
Tax period: 2012-01-01 to 2012-12-31
Filed: 2013-06-25
IRS object ID: 201341769349300604
Schema version: 2012v2.1
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
Form 990
Schedule D
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2013-06-25T08:33:01-05:00	Timestamp
Tax Period End Date	2012-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	BRISCOE BURKE & GRIGSBY LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	4120 EAST 51ST STREET SUITE 100	AddressLine1
City	TULSA	City
State	OK	State
ZIP Code	741353633	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2012-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	730457520	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	SOUTHEASTERN ELECTRIC COOPERATIVE	BusinessNameLine1
Business Name Line2	INC	BusinessNameLine2

Field	Value	IRS element (for citing)
Name Control	SOUT	NameControl
Phone	5809242170	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 1370	AddressLine1
City	DURANT	City
State	OK	State
ZIP Code	74702	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	LARRY SPEAKS	Name
Title	GENERAL MANAGER	Title
Phone	5809242170	Phone
Date Signed	2013-06-20	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	SEAN B DUNAHAY CPA	Name
Phone	9187498337	Phone
Date Prepared	2013-06-20	DatePrepared

Field	Value	IRS element (for citing)
Tax Year	2012	TaxYear
Build TS	2016-02-25 16:41:14Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Gross Receipts	24116363	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.SE-COOP.COM	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1939	YearFormation
State Legal Domicile	OK	StateLegalDomicile
Activity Or Mission Description	TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	9	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	9	NbrIndependentVotingMembers
Total Nbr Employees	39	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	25795668	ProgramServiceRevenuePriorYear
Program Service Revenue CY	23975845	ProgramServiceRevenueCY
Investment Income Prior Year	101631	InvestmentIncomePriorYear
Investment Income Current Year	98170	InvestmentIncomeCurrentYear
Other Revenue Prior Year	36245	OtherRevenuePriorYear
Other Revenue Current Year	35329	OtherRevenueCurrentYear
Total Revenue Prior Year	25933544	TotalRevenuePriorYear
Total Revenue Current Year	24109344	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	1903122	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	934991	BenefitsPaidToMembersCY
Salaries Etc Prior Year	513146	SalariesEtcPriorYear
Salaries Etc Current Year	577756	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	23963384	OtherExpensePriorYear
Other Expenses Current Year	23143687	OtherExpensesCurrentYear
Total Expenses Prior Year	26379652	TotalExpensesPriorYear
Total Expenses Current Year	24656434	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-446108	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-547090	RevenuesLessExpensesCY
Total Assets BOY	47713825	TotalAssetsBOY
Total Assets EOY	47435352	TotalAssetsEOY
Total Liabilities BOY	21259955	TotalLiabilitiesBOY
Total Liabilities EOY	20477245	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	26453870	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	26958107	NetAssetsOrFundBalancesEOY
Mission Description	TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Description	PROVIDED ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.	Description
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	false	ReportOtherLiabilities
Report Fin48 Footnote	true	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	17	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	39	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Gross Income From Members	23975845	GrossIncomeFromMembers
Gross Income Other Sources	140519	GrossIncomeOtherSources
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	9	NbrVotingGoverningBodyMembers
Number Independent Voting Members	9	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	true	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
States Where Copy Of Return Is Filed	OK	StatesWhereCopyOfReturnIsFiled
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	THE COOPERATIVE	NamePerson
Telephone Number	5809242170	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	PO BOX 1370	AddressLine1
City	DURANT	City
State	OK	State
ZIP Code	74702	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (11 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer
DAVID BLACKBURN
MEMBER	2.00	X	29414	0	0
ANTHONY DILLARD
MEMBER	2.00	X	27879	0	0
JAMES DANCER
MEMBER	2.00	X	27874	0	0
LLOYD OWENS
SEC/TREAS	3.00	X	27871	0	0
ODIS WILLINGHAM
MEMBER	2.00	X	27739	0	0
ROBERT SHEPARD
PRESIDENT	4.00	X	27732	0	0
WILLIAM HADDOCK
VICE PRESIDE	2.00	X	27730	0	0
TED DOSH
MEMBER	2.00	X	27599	0	0
DENNIS BOWEN
MEMBER	2.00	X	27599	0	0
LARRY SPEAKS
GM	40.00		168206	0	51524	X
JAMES FOXX
ADMIN. ASSIS	40.00		78839	0	27750	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	498482	TotalReportableCompFromOrg
Total Other Compensation	79274	TotalOtherCompensation
Number Individuals GT100 K	1	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (2 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
METTS POWERLINE CONSTRUCTION INC
3307 N WASHINGTON	DURANT	OK	74701	POWER LINES	1344738
PROGRESSIVE SOLUTIONS LLC
PO BOX 1130	MARSHALL	AR	72650	R/W SPRAYING	282885

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	2	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue

Field	Value	IRS element (for citing)
Description	SALES OF ELECTRICITY	Description
Total Revenue Column	23975845	TotalRevenueColumn
Related Or Exempt Function Income	23975845	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Program Service Revenue	23975845	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	98170	TotalRevenueColumn
Exclusion	$98,170	ExclusionAmount

Gross Rents GrossRents

Field	Value	IRS element (for citing)
Real	28489	Real

Rental Income Or Loss RentalIncomeOrLoss

Field	Value	IRS element (for citing)
Real	28489	Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	28489	TotalRevenueColumn
Exclusion	$28,489	ExclusionAmount

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	13725	GrossSalesOfInventory
Cost Of Goods Sold	7019	CostOfGoodsSold

Net Income Or Loss NetIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	6706	TotalRevenueColumn
Exclusion	$6,706	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	NON-OPERATING INCOME	Description
Total Revenue Column	134	TotalRevenueColumn
Exclusion	$134	ExclusionAmount

Field	Value	IRS element (for citing)
Total Other Revenue	134	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	24109344	TotalRevenueColumn
Related Or Exempt Function Income	23975845	RelatedOrExemptFunctionIncome
Exclusion	$133,499	ExclusionAmount

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	934991	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	577756	Total

Interest Interest

Field	Value	IRS element (for citing)
Total	721082	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	1523269	Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal
COST OF POWER	16205821
DISTRIBUTION	2877165
CONSUMER EXPENSE	1143249
GENERAL & ADMINISTRATIVE	673101

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	24656434	Total
Program Services	0	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	2251903	BOY
EOY	2629838	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	2823653	BOY
EOY	2310595	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	346837	BOY
EOY	314719	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	66676	BOY
EOY	73022	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	49844347	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	15209262	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	35299752	BOY
EOY	34635085	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	6925004	BOY
EOY	7472093	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	47713825	BOY
EOY	47435352	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	2851210	BOY
EOY	3082765	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	18408745	BOY
EOY	17394480	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	21259955	BOY
EOY	20477245	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

Field	Value	IRS element (for citing)
BOY	50750	BOY
EOY	51020	EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	546435	BOY
EOY	564566	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	25856685	BOY
EOY	26342521	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	26453870	BOY
EOY	26958107	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	47713825	BOY
EOY	47435352	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	-547090	ReconcilationRevenueExpenses
Reconcilation Other Changes	1051327	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited

FS Audited Basis FSAuditedBasis

Field	Value	IRS element (for citing)
Financial Statement Separate	X	FinancialStatementSeparate

Field	Value	IRS element (for citing)
Audit Committee	true	AuditCommittee
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Land Land

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	303945	OtherCostOrOtherBasis
Book Value	303945	BookValue

Buildings Buildings

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	2524044	OtherCostOrOtherBasis
Depreciation	738262	Depreciation
Book Value	1785782	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	2089727	TotalOfBookValueLandBuildings
Tot Revenue Etc Audited Fincl Stmt	24656432	TotRevenueEtcAuditedFinclStmt
Other Revenues	547088	OtherRevenues
Revenue Not Rptd F990	547088	RevenueNotRptdF990
Revenue Subtotal	24109344	RevenueSubtotal
Total Revenue Per Form990	24109344	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	23721443	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	23721443	ExpensesSubtotal
Other Expenses Not Included	934991	OtherExpensesNotIncluded
Expenses Not Rptd On Fin Stmt	934991	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	24656434	TotalExpensesPerForm990

Form990 Schedule D Part XIII Form990ScheduleDPartXIII (3 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
LIABILITY UNDER FIN 48 FOOTNOTE	SCHEDULE D, PAGE 3, PART X	INCOME TAXES THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS CONSIDERED WHETHER THE COOPERATIVE HAS ANY UNCERTAIN TAX POSITIONS, EMBEDDED OR OTHERWISE, THAT WOULD MATERIALLY IMPACT THE FINANCIAL STATEMENTS. MANAGEMENT BELIEVES NO SUCH MATERIAL UNCERTAINTIES EXIST, THEREFORE NO PROVISION IS PROVIDED. THE TAX YEARS PRIOR TO 2009 GENERALLY ARE NOT SUBJECT TO EXAMINATION BY THE U.S. FEDERAL AND MOST STATE TAX AUTHORITIES.
REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER	SCHEDULE D, PAGE 4, PART XI, LINE 2D	ACCRUAL TO CASH CAPITAL CREDITS 547,088
EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER	SCHEDULE D, PAGE 4, PART XII, LINE 4B	PATRONAGE DIVIDENDS - ALLOCATED 934,991

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Form990 Of Other Organizations	X	Form990OfOtherOrganizations
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII

Field	Value	IRS element (for citing)
Name Person	LARRY SPEAKS	NamePerson
Title	GM	Title
Base Compensation Filing Org	168206	BaseCompensationFilingOrg
Deferred Comp Filing Org	11018	DeferredCompFilingOrg
Nontaxable Benefits Filing Org	40506	NontaxableBenefitsFilingOrg
Total Compensation Filing Org	219730	TotalCompensationFilingOrg

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (9 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
ELECTION OF MEMBERS AND THEIR RIGHTS	FORM 990, PAGE 6, PART VI, LINE 7A	YES
DECISIONS SUBJECT TO APPROVAL OF MEMBERS	FORM 990, PAGE 6, PART VI, LINE 7B	YES
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	REVIEW AND/OR APPROVAL BY BOARD.
ENFORCEMENT OF CONFLICTS POLICY	FORM 990, PAGE 6, PART VI, LINE 12C	DONE ON AN ANNUAL BASIS BY THE COOPERATIVE'S LAWYER.
COMPENSATION PROCESS FOR TOP OFFICIAL	FORM 990, PAGE 6, PART VI, LINE 15A	THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE GENERAL MANAGER, OFFICERS, AND/OR KEY EMPLOYEES.
COMPENSATION PROCESS FOR OFFICERS	FORM 990, PAGE 6, PART VI, LINE 15B	THE BOARD OF DIRECTORS REVIEWS AND APPROVES COMPENSATION FOR THE GENERAL MANAGER, OFFICERS, AND/OR KEY EMPLOYEES.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	UPON REQUEST
RECONCILIATION OF CHANGES - OTHER	FORM 990, PART XI, LINE 9	ACCRUAL TO CASH CAPITAL CREDITS 547,088 PATRONAGE DIVIDENDS - ALLOCATED 934,991
OTHER CHANGES IN NET ASSETS EXPLANATION	FORM 990, PART XI, LINE 9	CHANGE IN OTHER EQUITIES 18,131 INCREASE IN MEMBERSHIP 270 RETIREMENT OF PATRONAGE CAPITAL 449,153