CARROLL ELECTRIC COOPERATIVE CORPORATION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- CARROLL ELECTRIC COOPERATIVE CORPORATION (EIN 71-0027635)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-11-14
- IRS object ID
- 201343189349301944
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-11-14T09:41:42-06:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 750882037 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| 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 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 710027635 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CARROLL ELECTRIC COOPERATIVE CORPORATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | CARR | NameControl |
| Phone | 8704232161 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 4000 | AddressLine1 |
| City | BERRYVILLE | City |
| State | AR | State |
| ZIP Code | 72616 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROB BOAZ | Name |
| Title | PRESIDENT/CEO | Title |
| Phone | 8704232161 | Phone |
| Date Signed | 2013-11-13 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WILLIAM M MILLER | Name |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | Phone |
| Date Prepared | 2013-11-13 | DatePrepared |
| Self Employed | X | SelfEmployed |
| 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) |
|---|---|---|
| Name Of Principal Officer Person | ROB BOAZ | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 4000 | AddressLine1 |
| City | BERRYVILLE | City |
| State | AR | State |
| ZIP Code | 72616 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 154727820 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.CARROLLECC.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1937 | YearFormation |
| State Legal Domicile | AR | StateLegalDomicile |
| Activity Or Mission Description | TO SERVE OUR MEMBERS WITH SAFE, RELIABLE, AND CONVENIENT ELECTRICITY AT THE LOWEST POSSIBLE COST. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 8 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 348 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 153304721 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 152100914 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1759422 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1504112 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 879802 | OtherRevenuePriorYear |
| Other Revenue Current Year | 791215 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 155943945 | TotalRevenuePriorYear |
| Total Revenue Current Year | 154396241 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 23405 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 24535 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 9163191 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 7870265 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 17424060 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 17576136 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 129333289 | OtherExpensePriorYear |
| Other Expenses Current Year | 128925305 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 155943945 | TotalExpensesPriorYear |
| Total Expenses Current Year | 154396241 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 0 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 0 | RevenuesLessExpensesCY |
| Total Assets BOY | 447448869 | TotalAssetsBOY |
| Total Assets EOY | 472214252 | TotalAssetsEOY |
| Total Liabilities BOY | 266318669 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 283221061 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 181130200 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 188993191 | NetAssetsOrFundBalancesEOY |
| Mission Description | WE EXIST TO SERVE OUR MEMBERS WITH SAFE, RELIABLE, AND CONVENIENT ELECTRICITY AT THE LOWEST POSSIBLE COST. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | SALES OF ELECTRIC POWER TO MEMBERS - 89,170 ACTIVE SERVICES WERE PROVIDED POWER AT YEAR END AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 83 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 348 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Gross Income From Members | 145534484 | GrossIncomeFromMembers |
| Gross Income Other Sources | 3912958 | GrossIncomeOtherSources |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 8 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHAD ALLEN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8704232161 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 920 HWY 62 SPUR | AddressLine1 |
| City | BERRYVILLE | City |
| State | AR | State |
| ZIP Code | 72616 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (17 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| ALAN HUNNICUTT | ||||||||
| CHAIRMAN | 8.00 | X | X | 23392 | 0 | 0 | ||
| CARLA HATHORN | ||||||||
| VICE CHAIRMAN | 6.00 | X | X | 25092 | 0 | 0 | ||
| WINFRED PRIER | ||||||||
| SEC/TREASURER | 2.00 | X | X | 23495 | 0 | 0 | ||
| J NEFF BASORE | ||||||||
| DIRECTOR | 6.00 | X | 21312 | 0 | 0 | |||
| KRISTY K ESTREM | ||||||||
| DIRECTOR | 4.00 | X | 30522 | 0 | 0 | |||
| DAVID GLASS | ||||||||
| DIRECTOR | 5.00 | X | 29372 | 0 | 0 | |||
| CHARLES R SHINN | ||||||||
| DIRECTOR | 3.00 | X | 24334 | 0 | 0 | |||
| JOSEPH R SPIVEY | ||||||||
| DIRECTOR | 5.00 | X | 28902 | 0 | 0 | |||
| CHARLES V BURDINE | ||||||||
| DIRECTOR (1/1/12-4/30/12) | 12.00 | X | 5819 | 0 | 0 | |||
| ROB BOAZ | ||||||||
| PRESIDENT/CEO | 55.00 | X | 310393 | 0 | 150534 | |||
| CHAD ALLEN | ||||||||
| VP/FINANCIAL SERVICES | 45.00 | X | 131515 | 0 | 68171 | |||
| KEAN STEELY | ||||||||
| VP/ENGINEERING & OPERATION | 45.00 | 179461 | 0 | 54913 | X | |||
| JAMES SANDERS | ||||||||
| VP/EXECUTIVE SERVICES | 45.00 | 176940 | 0 | 66026 | X | |||
| MICHAEL DODGE | ||||||||
| VP/BENTONVILLE DISTRICT | 45.00 | 170498 | 0 | 77680 | X | |||
| DAVID BROCK | ||||||||
| VP/OFFICE SERVICES | 45.00 | 133471 | 0 | 52491 | X | |||
| RAYMOND WHITE | ||||||||
| VP/JASPER DISTRICT | 45.00 | 121884 | 0 | 62680 | X | |||
| LENORA SUE SULLIVAN | ||||||||
| FORMER DIRECTOR | 1.00 | 14846 | 0 | 0 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1451248 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 532495 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| BARROWS EXCAVATION INC | |||||
| 49 CR 404 | BERRYVILLE | AR | 72616 | EXCAVATION | 4630486 |
| NABHOLZ CONSTRUCTION CORPORATION | |||||
| PO BOX 277 | ROGERS | AR | 72757 | CONSTRUCTION | 3997564 |
| SOUTHERN ELECTRIC CORPORATION | |||||
| 4374 MANGUM | FLOWOOD | MS | 39232 | CONSTRUCTION | 3525821 |
| FINLEY ENGINEERING COMPANY INC | |||||
| PO BOX 410412 | KANSAS CITY | MO | 64141 | ENGINEERING | 1435182 |
| POOR BOY TREE SERVICE INC | |||||
| 273 EAST 410TH ROAD | FAIR PLAY | MO | 65649 | DISTRIBUTION - LINE CLEARING | 869341 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 18 | NumberOfContractorsGT100K |
| Info In Schedule O Part VIII | X | InfoInScheduleOPartVIII |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ELECTRIC ENERGY | 221000 | 143316727 | 143316727 |
| PATRONAGE DIVIDENDS | 221000 | 7585388 | 7585388 |
| SERVICE FEES | 221000 | 994717 | 994717 |
| SURGE SUPPRESSOR REVENUE | 221000 | 204082 | 204082 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 152100914 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1500339 | TotalRevenueColumn |
| Exclusion | $1,500,339 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 5040 | Real |
| Personal | 718281 | Personal |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 5040 | Real |
| Personal | 718281 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 723321 | TotalRevenueColumn |
| Exclusion | $723,321 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 14000 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 10227 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 3773 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3773 | TotalRevenueColumn |
| Exclusion | $3,773 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 330028 | GrossSalesOfInventory |
| Cost Of Goods Sold | 321352 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 8676 | TotalRevenueColumn |
| Related Or Exempt Function Income | 8676 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISCELLANEOUS REVENUE | Description |
| Business Code | 221000 | BusinessCode |
| Total Revenue Column | 59218 | TotalRevenueColumn |
| Related Or Exempt Function Income | 59218 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 59218 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 154396241 | TotalRevenueColumn |
| Related Or Exempt Function Income | 152168808 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $2,227,433 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9285 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15250 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7870265 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 872853 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10741007 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2763946 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2320129 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 878201 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9728431 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14008945 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| PURCHASED POWER | 90200303 |
| DISTRIBUTION EXPENSE | 10426420 |
| ADMIN AND GENERAL | 3625606 |
| CONSUMER ACCOUNTS | 499810 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 435790 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 154396241 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 928328 | BOY |
| EOY | 781161 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18400000 | BOY |
| EOY | 9442241 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14200310 | BOY |
| EOY | 28157152 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4477901 | BOY |
| EOY | 4153364 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22208 | BOY |
| EOY | 41861 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 468459457 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 116820978 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 341787058 | BOY |
| EOY | 351638479 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62469401 | BOY |
| EOY | 68549815 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5163663 | BOY |
| EOY | 9450179 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 447448869 | BOY |
| EOY | 472214252 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11647711 | BOY |
| EOY | 2552149 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 218002781 | BOY |
| EOY | 249905084 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36668177 | BOY |
| EOY | 30763828 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 266318669 | BOY |
| EOY | 283221061 | 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 | 1658830 | BOY |
| EOY | 1690105 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 179471370 | BOY |
| EOY | 187303086 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 181130200 | BOY |
| EOY | 188993191 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 447448869 | BOY |
| EOY | 472214252 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 0 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 7862991 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtc |
| Included On FS | 0 | IncludedOnFS |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5438625 | OtherCostOrOtherBasis |
| Book Value | 5438625 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 20189815 | OtherCostOrOtherBasis |
| Depreciation | 2659840 | Depreciation |
| Book Value | 17529975 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 412003085 | OtherCostOrOtherBasis |
| Depreciation | 114161138 | Depreciation |
| Book Value | 297841947 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 30827932 | OtherCostOrOtherBasis |
| Book Value | 30827932 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 351638479 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (9 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CAPITAL TERM CERTIFICATES | 1868706 | C |
| PATRONAGE CAPITAL - AECC | 62062248 | C |
| PATRONAGE CAPITAL - AECI | 2763436 | C |
| PATRONAGE CAPITAL - CFC | 885188 | C |
| PATRONAGE CAPITAL - COBANK | 154622 | C |
| PATRONAGE CAPITAL - ARESIT | 313130 | C |
| MEMBERSHIPS | 2720 | C |
| ENERGY RESOURCE CONSERVATION LOANS | 231 | C |
| FEDERATED RURAL ELECTRIC INSURANCE | 499534 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 68549815 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities (8 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| CUSTOMER DEPOSITS | $4,145,085 |
| PROVISION FOR PENSIONS AND BENEFITS | $3,199,493 |
| ACCRUED TAXES | $4,354,085 |
| ACCRUED INTEREST | $310,771 |
| PATRONAGE CAPITAL PAYABLE | $10,255,224 |
| ACCRUED COMPENSATION | $2,474,932 |
| DEFERRED CREDITS | $5,466,895 |
| OTHER ACCRUED LIABILITIES | $557,343 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 30763828 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Description of Uncertain Tax Positions Under FIN 48: | Part X, Line 2: | THE COOPERATIVE HAS ADOPTED 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, Schedule D, Page 3, 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. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 0 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS FOR POST SECONDARY EDUCATION | TypeOfGrant |
| Number Of Recipients | 16 | NumberOfRecipients |
| Amount Of Cash Grant | 15250 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | EACH HIGH SCHOOL IN THE COOPERATIVE'S SERVICE TERRITORY SELECTS ONE SCHOLARSHIP RECIPIENT. THE RECIPIENT IS CHOSEN BY THE COUNSELOR OF EACH RESPECTIVE HIGH SCHOOL. UPON ENROLLMENT BY THE SCHOLARSHIP RECIPIENT, THE COOPERATIVE THEN PAYS THE COLLEGE OR UNIVERSITY DIRECTLY. ALL GRANTS AND DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA. ALL DONATIONS ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Written Policy Re T And E Expenses | 0 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (8 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROB BOAZ | ||||||||||||||
| PRESIDENT/CEO | 307872 | 0 | 162 | 0 | 2359 | 0 | 132870 | 0 | 17664 | 0 | 460927 | 0 | 0 | 0 |
| CHAD ALLEN | ||||||||||||||
| VP/FINANCIAL SERVICES | 129319 | 0 | 1470 | 0 | 726 | 0 | 54101 | 0 | 14070 | 0 | 199686 | 0 | 0 | 0 |
| KEAN STEELY | ||||||||||||||
| VP/ENGINEERING & OPERATION | 170109 | 0 | 7776 | 0 | 1576 | 0 | 40470 | 0 | 14443 | 0 | 234374 | 0 | 0 | 0 |
| JAMES SANDERS | ||||||||||||||
| VP/EXECUTIVE SERVICES | 166450 | 0 | 7434 | 0 | 3056 | 0 | 47923 | 0 | 18103 | 0 | 242966 | 0 | 0 | 0 |
| MICHAEL DODGE | ||||||||||||||
| VP/BENTONVILLE DISTRICT | 167386 | 0 | 1857 | 0 | 1255 | 0 | 60777 | 0 | 16903 | 0 | 248178 | 0 | 0 | 0 |
| DAVID BROCK | ||||||||||||||
| VP/OFFICE SERVICES | 131269 | 0 | 1439 | 0 | 763 | 0 | 37732 | 0 | 14759 | 0 | 185962 | 0 | 0 | 0 |
| RAYMOND WHITE | ||||||||||||||
| VP/JASPER DISTRICT | 118009 | 0 | 1523 | 0 | 2352 | 0 | 47995 | 0 | 14685 | 0 | 184564 | 0 | 0 | 0 |
| LENORA SUE SULLIVAN | ||||||||||||||
| FORMER DIRECTOR | 14846 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14846 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Supplemental Information | Identifier |
| Return Reference | Part III | ReturnReference |
| Explanation | Part I, Line 1A THE CEO RECEIVES THE TRAVEL FOR COMPANION BENEFIT AS APPROVED BY THE BOARD ON AN AS NEEDED BASIS. Part II, Column C INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. | Explanation |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| ARKANSAS ELECTRIC COOPERATIVE INC | |||
| THE PRESIDENT/CEO AND A DIRECTOR OF THE COOPERATIVE SERVE ON AECI'S BOARD. | 3406214 | THE COOPERATIVE PURCHASES ELECTRIC UTITILITY SUPPLIES FROM AECI ON A PATRONAGE BASIS. | 0 |
| ARKANSAS ELECTRIC COOPERATIVE CORPORATION | |||
| THE PRESIDENT/CEO AND A DIRECTOR OF THE COOPERATIVE SERVE ON AECC'S BOARD. | 90200303 | THE COOPERATIVE PURCHASES WHOLESALE ELECTRICITY FROM AECC ON A PATRONAGE BASIS | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (17 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| Form 990, Part VI, Section A, line 2 | BUSINESS RELATIONSHIP JOSEPH SPIVEY (DIRECTOR) AND DAVID GLASS (DIRECTOR) SHARE A BUSINESS RELATIONSHIP. ALAN HUNNICUTT (DIRECTOR) AND KRISTY ESTREM (DIRECTOR) SHARE A BUSINESS RELATIONSHIP. ROB BOAZ (PRESIDENT/CEO) AND ALAN HUNNICUTT (DIRECTOR) BOTH SERVED ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVE, INC. AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. ROB BOAZ (PRESIDENT/CEO) AND CARLA HATHORN (DIRECTOR) BOTH SERVED ON THE BOARD OF ARKANSAS ELECTRIC COOPERATIVE CORPORATION AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. | |
| 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 VIA UNITED STATES MAIL ON A ONE MEMBER ONE VOTE BASIS. MEMBERS COMPLETE AND RETURN WRITTEN BALLOTS IN A SEALED ENVELOPE ADDRESSED TO THE SECRETARY OF THE COOPERATIVE. | |
| Form 990, Part VI, Section A, line 7b | THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS; 2. THE DISSOLUTION/LIQUIDATION OF THE COOPERATIVE; 3. THE MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION; AND 4. AMENDMENTS TO THE ARTICLES OF INCORPORATION. | |
| Form 990, Part VI, Section B, line 11 | MANAGEMENT PROVIDED A COPY OF THE FORM 990 TO THE BOARD PRIOR TO FILING. THE BOARD DISCUSSES AND REVIEWS THE COMPLETED TAX RETURN AT THE BOARD MEETING SUBSEQUENT TO FILING OF THE FORM 990. | |
| Form 990, Part VI, Section B, line 12c | ALL DIRECTORS AND KEY EMPLOYEES MUST ANNUALLY REVIEW THE CONFLICT OF INTEREST POLICY AND SIGN A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM AND DELIVER THE COMPLETED, SIGNED FORM TO THE CHAIRMAN OR THE PRESIDENT/CEO. | |
| Form 990, Part VI, Section B, line 15 | THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY AND COMPARE COMPENSATION REPORTED ON OTHER COOPERATIVE'S IRS FORM 990S WHEN DETERMINING THE COMPENSATION OF THE PRESIDENT/CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR PRESIDENTS/CEOS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN ARKANSAS AND THE NATION. THE BOARD AND THE PRESIDENT/CEO USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT ARKANSAS AND THE NATION. | |
| Form 990, Part VI, Section C, line 19 | THE ARTICLES OF INCORPORATION AND THE BYLAWS OF THE COOPERATIVE ARE PROVIDED IN WRITTEN OR ELECTRONIC FORM UPON REQUEST. THE ANNUAL FINANCIAL REPORT IS DISTRIBUTED TO ALL MEMBERS IMMEDIATELY PRIOR TO THE ANNUAL MEETING OF THE MEMBERS. ANY MEMBER, UPON REQUEST, IS PROVIDED A COMPLETE COPY OF THE COOPERATIVE'S AUDIT REPORT. | |
| Form 990, Part VI, Line 1b | THE COOPERATIVE IS A MEMBER OF AND PURCHASES ELECTRIC UTILITY SUPPLIES AND INVENTORY FROM THE ARKANSAS ELECTRIC COOPERATIVE, INC. (AECI). AS A MEMBER, THE COOPERATIVE APPOINTED DIRECTOR ALAN HUNNICUTT TO REPRESENT ITS INTERESTS ON THE BOARD OF AECI DURING 2012. BECAUSE DIRECTOR HUNNICUTT SERVED ON THE BOARD OF AECI, HE IS CONSIDERED TO BE "NOT INDEPENDENT" PER IRS FORM 990 INSTRUCTIONS. HOWEVER, DIRECTOR HUNNICUTT HAD NO OWNERSHIP INTEREST IN AECI AND RECEIVED NO DIRECT OR INDIRECT BENEFIT FOR THE COOPERATIVE DOING BUSINESS WITH AECI. THE COOPERATIVE ALSO IS A MEMBER OF AND PURCHASES ELECTRIC ENERGY FROM THE ARKANSAS ELECTRIC COOPERATIVE CORPORATION (AECC). AS A MEMBER, THE COOPERATIVE APPOINTED DIRECTOR CARLA HATHORN TO REPRESENT ITS INTERESTS ON THE BOARD OF AECC DURING 2012. BECAUSE DIRECTOR HATHORN SERVED ON THE BOARD OF AECC, SHE IS CONSIDERED TO BE "NOT INDEPENDENT" PER IRS FORM 990 INSTRUCTIONS. HOWEVER, DIRECTOR HATHORN HAD NO OWNERSHIP INTEREST IN AECC AND RECEIVED NO DIRECT OR INDIRECT BENEFIT FOR THE COOPERATIVE DOING BUSINESS WITH AECC. | INDEPENDENT DIRECTORS |
| Form 990, Part VIII, Line 2B | PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE DIVIDENDS AND 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. | PATRONAGE DIVIDENDS |
| Form 990, PART IX | THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED 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 ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICE(RUS). 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. | ACCOUNTING SYSTEM |
| Form 990, Part IX, Lines 5-7 | 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 W-3 THE FOLLOWING RECONCILIATION IS PROVIDED. TOTAL PER LINES 5-7 $ 11,613,860 LESS DIRECTORS FEES REPORTED ON 1099-MISC (212,240) LESS OFFICER BENEFITS REPORTED ON LINE 5 (218,705) PLUS SALARIES AND WAGES ALLOCATED TO ASSET ACCOUNTS 4,967,844 RECONCILIATION TO W-3 $ 16,150,759 | RECONCILIATION OF WAGES PER RETURN TO FORM W-3 |
| Form 990, Part IX, Line 24 | THE FOLLOWING IS A BREAKDOWN OF THE EXPENSES REPORTED AS ADMINISTRATIVE AND GENERAL EXPENSE ON FORM 990, PART IX, LINE 24 OFFICE AND SUPPLIES $ 772,998 OUTSIDE SERVICES 430,066 REGULATORY COMMISSION EXPENSE 284,718 DUPLICATE CHARGES (85,904) DIRECTORS EXPENSES 46,016 OFFICE BUILDING MAINTENANCE 760,700 MISCELLANEOUS GENERAL AND ADMINISTRATIVE 1,417,012 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $3,625,606 | BREAKDOWN OF EXPENSES INCLUDED IN ADMINISTRATIVE AND GENERAL |
| FORM 990, PART IX, LINE 4 | THE FORM 990 INSTRUCTIONS SPECIFICALLY STATE THAT THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS PATRONS) 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 PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS 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 PATRONS. 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 PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER 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 PATRONS 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 PATRONS AS CAPITAL. (C) THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON FOR ALL SUCH MARGINS. AND (D) ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY PATRONS SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE PATRON IN CASH IN PURSUANCE OF A LEGAL OBLIGATION TO DO SO AND THE PATRON 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 ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2012 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 PATRONS AND ARE DONE PURSUANT TO THE OBLIGATION THAT EXISTED IN THE BYLAWS PRIOR TO THE COOPERATIVE PROVIDING ELECTRICITY TO ITS PATRONS. THEREFORE, THESE AMOUNTS MEET THE DEFINITION OF THE TERM "PATRONAGE DIVIDENDS PAID". PLEASE NOTE, HOWEVER, THAT BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED THE AMOUNT OF ITS 2012 MARGIN THAT HAS BEEN ALLOCATED TO THE PATRONS 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. | 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 TRANSMISSION EXPENSE 425,918 MISCELLANEOUS GENERAL EXPENSE 9,872 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 435,790 | TO PROVIDE DETAIL REGARDING OTHER EXPENSES |
| Form 990, Part XI, line 9: | NET CHANGE IN MEMBERSHIPS 31,275. PATRONAGE CAPITAL ASSIGNED 7,870,265. UNCLAIMED PATRONAGE CAPITAL CREDITS RETAINED PER STATE LAW -348,352. OTHER COMPREHENSIVE INCOME 309,803. | Changes in Net Assets or Fund Balances: |
| Form 990, Part XII, Line 2B | AUDITED FINANCIAL STATEMENTS WERE PREPARED BY AN INDEPENDENT ACCOUNTANT FOR THE COOPERATIVE'S FISCAL YEAR END OF FEBRUARY 28TH. THE TAX RETURN HAS BEEN AND CONTINUES TO BE PREPARED BASED ON A CALENDAR YEAR END OF DECEMBER 31. THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. | INDEPENDENT AUDIT |