2012-11-07T11:06:38-06:00 2011-12-31 K EVE MCCOY CPA LLC 1518 LADY ST COLUMBIA SC 29201 990 2011-01-01 570216285 NEWBERRY ELECTRIC COOPERATIVE INC NEWB 8032761121 PO BOX 477 NEWBERRY SC 29108 GEORGE KEITH AVERY 8032761121 2012-11-06 true K EVE MCCOY 8032569100 2012-11-07 X 2011 2016-02-24 21:20:13Z GEORGE KEITH AVERY 882 WILSON RD NEWBERRY SC 29108 32329739 false X WWW.NEC.COOP X 1940 SC TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. 9 9 34 0 0 31871121 32207148 46731 41311 94986 81280 32012838 32329739 0 1988737 510554 399770 0 0 29948204 29941232 30458758 32329739 1554080 0 50916278 50539215 34846649 33366720 16069629 17172495 TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE. false false 30450315 ELECTRIC SERVICE TO MEMBERS 30450315 false false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false true 44 0 true 34 true false false false false false 32098419 231320 false X 9 9 false false false false true true true true true true false true true true true true true true false false X ARTHUR GUY 8032761121 882 WILSON RD NEWBERRY SC 29108 JOHN WAYNE NICHOLS 4.00 X 35029 0 3098 JOHNNIE L DICKERT 4.00 X 34933 0 3750 WILLIAM B LOMINICK 2.00 X 30479 0 2320 WILLIAM D KIBLER 4.00 X 27959 0 5907 CHARLES J BISHOP 2.00 X 27256 0 4031 TOBIE R SHEALY 2.00 X 25719 0 4158 HAROLD L PITTS 4.00 X 23759 0 6188 RICHARD O KOON 2.00 X 20834 0 5060 PATTY H RUFF 2.00 X 17981 0 0 GEORGE KEITH AVERY 40.00 X 91929 0 29380 JASON G MERCHANT 40.00 X 103881 0 45385 DANIEL P MURPHY X 134248 0 0 MELVIN L LONGSHORE X 119239 0 0 WCLYDE BROWN X 9126 0 4015 RICHARD HENRY RUFF X 5618 0 10000 707990 123292 3 true false false THE DAVEY TREE EXPERT COMPANY PO BOX 709 KENT OH 442400709 R-O-W CLEARING 650211 LEE ELECTRICAL CONSTRUCTION INC PO BOX 55 ABERDEEN NC 283150055 BUILD LINES 318042 2 ELECTRIC SALES 32098419 32098419 QUALIFIED POLE RENTAL 108729 108729 32207148 41311 41311 CAPITAL CREDITS-ASSOC ORG 81280 81280 81280 32329739 32179699 150040 1988737 1988737 399770 399770 1489352 1489352 1725936 1725936 PURCHASED POWER 20349397 20349397 DISTRIBUTION-MAINTENANCE 1783650 1783650 TAXES 1631968 1631968 ADMIN AND GENERAL 1479654 1479654 1481275 1481275 32329739 30450315 1879424 0 3515904 2572839 876678 698443 573349 653859 113645 112258 62650443 17854401 44195230 44796042 1641472 1705774 50916278 50539215 2462371 1802646 29443172 28566070 2941106 2998004 34846649 33366720 X 16069629 17172495 16069629 17172495 50916278 50539215 X 0 1102866 X false true false X false false false false false false false false false false false 62650443 17854401 44796042 44796042 ACCUM. PROV. POSTRETIREMENT BENEFITS 2365900 CONSUMER DEPOSITS 632104 2998004 32329739 32329739 1988737 1988737 1988737 32329739 32329739 32329739 30341002 30341002 1988737 1988737 32329739 LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X THE COOPERATIVE FILES FORM 990 "RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX" ANNUALLY. THIS RETURN IS SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. THE COOPERATIVE IS NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAX AUTHORITIES FOR YEARS PRIOR TO 2008. ALTHOUGH THE OUTCOME OF TAX AUDITS IS ALWAYS UNCERTAIN, THE COOPERATIVE BELIEVES THERE ARE NO SIGNIFICANT UNRECORDED TAX LIABILITIES AT DECEMBER 31, 2011 AND 2010. RECONCILIATION OF CHANGES - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 8 AMOUNT REPORTED ON FORM 990, PART IX, LINE 4 AS BENEFITS 0 PAID TO OR FOR MEMBERS IS NOT REPORTED AS AN EXPENSE IN 0 THE FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING 0 PRINCIPLES (GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS 0 PAID AS AN EXPENSE 1,988,737 EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER SCHEDULE D, PAGE 4, PART XIII, LINE 4B AMOUNT REPORTED ON FORM 990, PART IX, LINE 4 AS BENEFITS 0 PAID TO OR FOR MEMBERS IS NOT REPORTED AS AN EXPENSE IN 0 THE FINANCIAL STATEMENTS. GENERALLY ACCEPTED ACCOUNTING 0 PRINCIPLES (GAAP) DOES NOT RECOGNIZE PATRONAGE DIVIDENDS 0 PAID AS AN EXPENSE 1,988,737 true true false DANIEL P MURPHY 75000 59248 134248 MELVIN L LONGSHORE 119239 119239 WCLYDE BROWN 9126 4015 13141 RICHARD HENRY RUFF 5618 10000 15618 SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS SCHEDULE J, PAGE 1, PART I, LINE 4 JOHN WAYNE NICHOLS 0 3,098 0 JOHNNIE L. DICKERT 0 3,750 0 WILLIAM B. LOMINICK 0 2,320 0 WILLIAM D. KIBLER 0 5,907 0 CHARLES J. BISHOP 0 4,031 0 TOBIE R. SHEALY 0 4,158 0 HAROLD L. PITTS 0 6,188 0 RICHARD O. KOON 0 5,060 0 DANIEL P. MURPHY 75,000 0 0 W.CLYDE BROWN 0 4,015 0 RICHARD HENRY RUFF 0 10,000 0 ADDITIONAL INFORMATION FORM 990 BEGINNING WITH THE 2011 FORM 990 RETURN, THE COOPERATIVE HAS CHANGED ITS TAX REPORTING OF PATRONAGE DIVIDENDS PAID TO MEMBERS TO COMPLY WITH THE 2011 FORM 990 INSTRUCTIONS TO REPORT PATRONAGE DIVIDENDS PAID TO MEMBERS ON FORM 990, PART IX, LINE 4 AS BENEFITS PAID TO OR FOR MEMBERS. PRIOR TO 2011, THE PATRONAGE DIVIDENDS WERE NOT REPORTED AS EXPENSES. IN ACCORDANCE WITH ITS BYLAWS, THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. ALL SUCH AMOUNTS CREDITED TO THE CAPITAL ACCOUNT OF ANY PATRON SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE PATRON. PURSUANT TO THE BYLAWS, THE COOPERATIVE HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO ITS MEMBERS REPORTED ON FORM 990, PART IX, LINE 4 TO BE CAPITAL CREDITS ALLOCATED FOR 2011. CLASSES OF MEMBERS OR STOCKHOLDERS FORM 990, PAGE 6, PART VI, LINE 6 THE CORPORATION IS ORGANIZED AND OPERATED AS A COOPERATIVE. IT IS COMPRISED OF MEMBERS WHO OWN AND MANAGE THE CORPORATION. THE MEMBER IS DEFINED AS A "PERSON" ( AN INDIVIDUAL, CORPORATION, OR COOPERATIVE) ENTITLED TO PARTICIPATE IN THE COOPERATIVE'S MANAGEMENT. A PERSON MAY BECOME A MEMBER OF THE COOPERATIVE BY: A. APPLYING FOR MEMBERSHIP THEREIN UPON SUCH TERMS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS; B. AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE; C. AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS; D. PAYING THE MEMBERSHIP FEE; E. MAINTAINING AN ACTIVE ACCOUNT IN GOOD STANDING WITH THE COOPERATIVE AS DEFINED IN THE BYLAWS. ELECTION OF MEMBERS AND THEIR RIGHTS FORM 990, PAGE 6, PART VI, LINE 7A EACH MEMBER HAS ONE VOTE. DIRECTORS ARE ELECTED BY THE MEMBERS. DECISIONS SUBJECT TO APPROVAL OF MEMBERS FORM 990, PAGE 6, PART VI, LINE 7B EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO ONLY ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT ANY MEETING OF THE MEMBERS. A MEMBER HAS THE RIGHT TO ELECT THE BOARD OF DIRECTORS AND PARTICIPATE IN THE COOPERATIVE'S BUSINESS. DIRECTORS SHALL SERVE TERMS OF THREE (3) YEARS EACH AND SHALL BE ELECTED AT EACH ANNUAL MEETING OF THE MEMBERS AND SHALL SERVE UNTIL A SUCCESSOR HAS BEEN ELECTED. REMOVAL - ANY MEMBER MAY BRING ONE OR MORE CHARGES FOR CAUSE AGAINST ANY ONE OR MORE TRUSTEES AND MAY REQUEST THE REMOVAL OF SUCH TRUSTEE(S) BY REASON THEREOF BY FILING WITH THE SECRETARY SUCH CHARGE(S)IN WRITING, TOGETHER WITH A PETITION SIGNED BY NOT LESS THAN TEN PERCENT OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE. DISSOLUTION - THE COOPERATIVE MAY AUTHORIZE THE SALE, LEASE, LEASE-SALE, EXCHANGE, TRANSFER, DISSOLUTION OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTIES AND ASSETS ONLY UPON THE AFFIRMATIVE VOTES OF TWO-THIRDS OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE AT A DULY HELD MEETING OF THE MEMBERS. OFFICERS WHO CANNOT BE REACHED FORM 990, PAGE 6, PART VI, LINE 9 DANIEL P. MURPHY 704 S WASHINGTON ST. RITZVILLE, WA 99169 MELVIN L. LONGSHORE 215 SUMMIT DRIVE POMARIA, SC 29126 ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT COPY OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS AT THE REGULAR BOARD MEETING PRIOR TO THE DUE DATE OF THE RETURN BEING FILED FOR THEIR REVIEW. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C THE BOARD OF DIRECTORS REVIEWS ANY CIRCUMSTANCES THAT MAY HAVE A CONFLICT OF INTEREST ON AN ANNUAL BASIS. THE PRESIDENT AND CEO WILL BRING TO THE ATTENTION OF THE BOARD OF DIRECTORS POTENTIAL AREAS OF CONFLICT OF INTEREST FOR THE BOARD TO ACT UPON. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO. THEY UTILIZE NRECA SALARY DATA FOR COMPARISON AND MAKE RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS. THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON THE RECOMMENDATIONS OF THE EXECUTIVE COMMITTEE. THIS PROCESS WAS LAST UNDERTAKEN IN 2011. . GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. ANNUAL REPORTS ARE MAILED TO MEMBERS EACH YEAR AND ADDITIONAL COPIES ARE AVAILABLE UPON REQUEST. OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 5 INCREASE IN MEMBERSHIPS 165 ADJUSTMENT FOR SFAS 158 26,700 INCREASE IN OTHER EQUITIES 98,119 PATRONAGE CAPITAL RETIRED (1,010,855) NET DECREASE ( 885,781) ADJUST FOR 2011 PATRONAGE CAPITAL REPORTED AS EXPENSE ON FORM 990, BUT REPORTED AS INCREASE IN EQUITY PER AUDITED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) SEE SCHEDULE D 1,988,737 NET CHANGE 1,102,866