2012-06-01T14:36:35-05:00 2011-12-31 BKD LLP 2800 Post Oak Blvd Ste 3200 HOUSTON TX 77056 990 2011-01-01 740828412 PEDERNALES ELECTRIC COOPERATIVE INC % FRANK SKUBE PEDE 8308685112 PO BOX 1 JOHNSON CITY TX 78636 FRANK SKUBE 8308685112 2012-08-15 true M Paige Gerich 7134994600 2011 2016-02-24 21:20:13Z R B SLOAN PO BOX 1 JOHNSON CITY TX 78636 596163066 false X WWW.PEC.COOP X 1938 TX THE PURPOSE OF THE COOPERATIVE IS TO PROVIDE SAFE, RELIABLE, LOW-COST ENERGY SERVICES IN FISCALLY RESPONSIBLE PARTNERSHIP WITH ITS MEMBER-OWNERS. 7 7 892 0 0 0 0 548611895 585108475 2125315 -179083 3934097 4131121 554671307 589060513 410138 196769 61698631 55511060 36048041 36262907 0 0 0 463821554 490629756 561978364 582600492 -7307057 6460021 1291029154 1366415246 925306490 952371366 365722664 414043880 THE PURPOSE OF THE COOPERATIVE IS TO PROVIDE SAFE, RELIABLE, LOW-COST ENERGY SERVICES IN FISCALLY RESPONSIBLE PARTNERSHIP WITH ITS MEMBER-OWNERS. false false 0 0 0 DELIVERING ELECTRICAL POWER TO OUR MEMBER/OWNERS. 242,331 ACTIVE ACCOUNTS WERE PROVIDED ELECTRIC POWER, ON A COOPERATIVE BASIS, AT YEAR-END. 0 false false false false false false false false true false false false true false false true false false false false false false false false false true false true false false false false false false false false false false false true true true false true 277 0 true 892 true false false false false false false false false false 571941036 10183492 false X 7 7 false false true false true true true true false true false true true true true true true true true false X X FRANK SKUBE 8308684984 PO BOX 1 JOHNSON CITY TX 78636 LARRY LANDAKER 30.0 X X 44500 0 0 CRISTI CLEMENT 38.0 X X 44750 0 0 KATHRYN SCANLON 10.0 X 43500 0 0 PATRICK COX 20.0 X 45750 0 0 CHRIS PERRY 16.0 X X 43750 0 0 ROSS FISCHER 4.0 X 33000 0 0 WILLIAM BOGGS 35.0 X 20750 0 0 MICHAEL E VOLLMER 40.0 X 156922 0 45036 RILEY SLOAN 40.0 X 266479 0 11747 FRANK SKUBE 40.0 X 102811 0 3384 PAUL HILGERS 40.0 X 174513 0 15282 JEANELL DAVIS 40.0 X 253771 0 48160 JAMES BLANTON 40.0 X 209908 0 18368 LUIS A GARCIA 40.0 X 261372 0 37464 EDWARD A DAUTERIVE 40.0 X 194427 0 30134 DALE A JONES 40.0 X 192038 0 34359 JOHN M HOUSER 40.0 X 182471 0 39613 TONI J REYES 40.0 X 187854 0 43639 LLOYD W MCKEE 40.0 X 189806 0 37920 ROBERT J DIFONZO 40.0 X 182288 0 32008 HERBERT O GREBE III 40.0 X 178648 0 33439 MICHAEL J RACIS 40.0 X 179305 0 29520 ARCENIO LOPEZ JR 40.0 X 178787 0 21694 MICHELLE M GALLOWAY 40.0 X 175863 0 29844 STEPHEN V MALDONADO 40.0 X 167423 0 32743 ROBERT PETERSON 40.0 X 197468 0 31999 PETER SLOVER 40.0 X 170765 0 29321 AISHA HAGEN 40.0 X 186221 0 23777 THERESA M OWENS 40.0 X 123939 0 10628 TED J MASON 40.0 X 133208 0 47104 ZELENNY MARTINEZ 40.0 X 147092 0 20647 RICHARD ARELLANO 40.0 X 132237 0 26060 PAUL LOCHTE 40.0 X 123428 0 26510 4925044 0 760400 40 false true false PIKE ELECTRIC LLC ELEC DIST SUB-CONTR 3940630 T D SOLUTIONS LLC 6411 MASONIC DRIVE ALEXANDRIA LA 71301 ELEC DIST SUB-CONTR 2890613 DELOITTE CONSULTING LLP 1700 MARKET STREET PHILADELPHIA PA 191033984 CONSULTING SVCS 10323273 LAMBDA CONSTRUCTION I LTD 211 JESSES CIRCLE NEW BRAUNFELS TX 78132 CONSTRUCTION SVCS 2921129 NORTH HOUSTON POLE LINE LP 1608 MARGARET STREET HOUSTON TX 77093 ELEC DIST SUB-CONTR 2352242 66 0 SALE OF ELECTRICITY 221000 583843195 583843195 PATRONAGE DIVIDEND 221000 1265280 1265280 585108475 743873 743873 0 0 3959050 3959050 3959050 3959050 6179597 7102553 -922956 -922956 -922956 0 0 0 MISC NON-OPERATING INCOME 221000 172071 172071 172071 589060513 585280546 3779967 X 196769 0 0 55511060 4894588 0 17691918 9313850 356039 4006512 3928342 739303 730271 90124 0 0 1295522 753030 1894741 3217796 0 4472438 0 0 245735 39735898 0 41510817 1111243 COST OF PURCHASED POWER 343050565 OPERATIONS 15930280 MAINTENANCE 11771574 ADMINISTRATIVE EXPENSES 12508011 7644066 582600492 0 0 0 20603201 27861350 50000 50000 0 0 46062859 43794468 0 0 0 0 0 0 9821567 9841493 1437472 934974 1371267350 235245369 1103532770 1136021981 0 0 11215712 11133221 0 0 42401781 80649564 55903792 56128195 1291029154 1366415246 65169320 61741679 0 0 0 0 0 0 0 0 0 0 751085000 732089000 0 0 109052170 158540687 925306490 952371366 X 0 0 9472390 9698540 356250274 404345340 365722664 414043880 1291029154 1366415246 X 6460021 41861195 X false true true X false 8743379 8743379 45995905 9668031 36327874 0 0 0 1291836700 225569754 1066266946 24691366 7584 24683782 1136021981 0 OTHER DEF CREDITS/LIABILITIES 15040027 POST RET BENEFIT OBLIGATION 143500660 158540687 589060513 582600492 6460021 55051039 55051039 61511060 588052082 1403 1403 588050679 1009834 1009834 589060513 526541022 461424 461424 526079598 56520894 56520894 582600492 OTHER CHANGES IN NET ASSETS PART XI, LINE 8 PATRONAGE DIVIDENDS ALLOCATED TO MEMBERS $ 55,511,060 EQUITY IN SUBSIDIARY EARNINGS (461,424) EXPENSES RECORDED TO NET ASSETS 1,403 ------------ $ 55,051,039 REVENUE ON BOOKS, NOT ON RETURN PART XII, LINE 2D EXPENSES RECORDED TO NET ASSETS $ 1,403 EXPENSE ON BOOKS, NOT ON RETURN PART XIII, LINE 2D EQUITY IN SUBSIDIARY EARNINGS $ 461,424 EXPENSE ON RETURN, NOT ON BOOKS PART XIII, LINE 4B PATRONAGE DIVIDENDS ALLOCATED TO MEMBERS $ 55,511,060 DONATIONS 427,172 AMORTIZATION OF DEBT DISCOUNT 582,662 ------------ $ 56,520,894 REVENUE ON RETURN, NOT ON BOOKS PART XII, LINE 4B DONATIONS $ 427,172 AMORTIZATION OF DEBT DISCOUNT 582,662 ------------ $ 1,009,834 FIN 48 DISCLOSURE PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true PEC SCHOLARSHIP FUND 201 S AVENUE F JOHNSON CITY TX 78636 742897600 501(C)(3) 39000 DONATIONS PEC UNITED CHARITIES INC PO BOX 1 JOHNSON CITY TX 78636 742491188 501(C)(3) 157769 DONATIONS 2 DESCRIBE THE ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF FUNDS PART I, QUESTION 2 THE ORGANIZATION MAKES GRANTS TO TWO 501(C)(3) ORGANIZATIONS AND MONITORS USE OF GRANTED FUNDS THROUGHOUT THE YEAR. BOTH ORGANIZATIONS SUPPORT CHARITABLE ACTIVITIES IN THE AREAS SERVED BY PEDERNALES ELECTRIC COOPERATIVE, INC. X X true false false PAUL HILGERS 167569 0 0 0 6944 0 10437 0 4845 0 189795 0 0 0 JEANELL DAVIS 230661 0 14502 0 8608 0 35970 0 12190 0 301931 0 0 0 JAMES BLANTON 197349 0 0 0 12559 0 14635 0 3733 0 228276 0 0 0 LUIS A GARCIA 212435 0 41380 0 7557 0 23267 0 14197 0 298836 0 0 0 MICHAEL E VOLLMER 144178 0 0 0 12744 0 36728 0 8308 0 201958 0 0 0 EDWARD A DAUTERIVE 171933 0 7500 0 14994 0 16010 0 14124 0 224561 0 0 0 DALE A JONES 168495 0 7500 0 16043 0 23274 0 11085 0 226397 0 0 0 JOHN M HOUSER 173379 0 7500 0 1592 0 25771 0 13842 0 222084 0 0 0 TONI J REYES 158766 0 12360 0 16728 0 29644 0 13995 0 231493 0 0 0 LLOYD W MCKEE 166612 0 7500 0 15694 0 23844 0 14076 0 227726 0 0 0 ROBERT J DIFONZO 158084 0 7500 0 16704 0 26135 0 5873 0 214296 0 0 0 HERBERT O GREBE III 155775 0 7500 0 15373 0 19448 0 13991 0 212087 0 0 0 MICHAEL J RACIS 156832 0 7500 0 14973 0 15538 0 13982 0 208825 0 0 0 ARCENIO LOPEZ JR 158115 0 7500 0 13172 0 14668 0 7026 0 200481 0 0 0 MICHELLE M GALLOWAY 153418 0 7500 0 14945 0 15898 0 13946 0 205707 0 0 0 STEPHEN V MALDONADO 156131 0 7500 0 3792 0 18810 0 13933 0 200166 0 0 0 ROBERT PETERSON 186075 0 7500 0 3893 0 25998 0 6001 0 229467 0 0 0 PETER SLOVER 147647 0 7497 0 15621 0 15441 0 13880 0 200086 0 0 0 TED J MASON 122699 0 6133 0 4376 0 36525 0 10579 0 180312 0 0 0 ZELENNY MARTINEZ 127870 0 13058 0 6164 0 11577 0 9070 0 167739 0 0 0 RICHARD ARELLANO 121159 0 6149 0 4929 0 12542 0 13518 0 158297 0 0 0 AISHA HAGEN 142485 0 43284 0 452 0 14512 0 9265 0 209998 0 0 0 RILEY SLOAN 250438 0 0 0 16041 0 6923 0 4824 0 278226 0 0 0 PERSONS WHO RECEIVED A SEVERANCE PAYMENT AND AMOUNT OF PAYMENT PART I, QUESTION 4A THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAY DURING THE YEAR ENDED DECEMBER 31, 2011: PAUL HILGERS $ 64,520 JAMES BLANTON 51,875 THERESA OWENS 39,861 PROCESS TO REVIEW FORM 990 FORM 990, PART VI, QUESTION 11B A COPY OF THE FORM 990 WAS PROVIDED AND REVIEWED BY THE FINANCE DEPARTMENT AND THE BOARD OF DIRECTORS AFTER COMPLETED BY TAX PREPARERS AND BEFORE IT WAS FILED WITH THE IRS. GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART VI, QUESTION 19 THE ORGANIZATION DOES MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE. PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY FORM 990, PART VI, QUESTION 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. DECISION OF GOVERNING BODY SUBJECT TO APPROVAL FORM 990, PART VI, QUESTION 7B UNDER PEC'S BYLAWS AND ARTICLES OF INCORPORATION, THE CORPORATION MAY NOT SELL OR TRANSFER ALL OR SUBSTANTIALLY ALL OF ITS ASSETS WITHOUT THE APPROVAL OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE EITHER IN PERSON OR BY PROXY. ANY AMENDMENT TO THAT SECTION OF THE ARTICLES OF INCORPORATION REQUIRES A MAJORITY VOTE OF ALL MEMBERS. TEXAS UTILITY CODE 161.151(A) REQUIRES ANY OTHER PROPOSED AMENDMENT TO THE ARTICLES OF INCORPORATION TO BE APPROVED BY A MAJORITY OF THE MEMBERS REPRESENTED IN PERSON OR BY PROXY AT A MEETING OF MEMBERS CALLED FOR THAT PURPOSE. THE LAW DOES NOT SPECIFICALLY REQUIRE BOARD APPROVAL OF AN AMENDMENT TO THE ARTICLES OF INCORPORATION, BUT AS A MATTER OF PRACTICE, ANY MEMBER VOTE WOULD LIKELY BE PURSUANT TO BOARD APPROVAL. 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. AND, THE BYLAWS ALLOW MEMBERS TO CALL A MEETING BY A PETITION SIGNED BY AT LEAST 10% OF MEMBERS. COMMITTEE'S AUTHORITY TO ACT ON BEHALF OF GOVERNING BODY FORM 990, PART VI, QUESTION 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. REVIEW AND APPROVAL OF COMPENSATION FORM 990, PART VI, QUESTIONS 15A & 15B 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 FTES. 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 WHOM THE POSITION REPORTS TO, 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%. CLASSES OF MEMBERS OR STCOKHOLDERS FORM 990, PART VI, QUESTION 6 PEDERNALES ELECTRIC COOPERATIVE, INC. (PEC) IS A NOT-FOR-PROFIT ELECTRIC COOPERATIVE CORPORATION OWNED BY THE MEMBERS IT SERVES. MEMBERS OR STOCKHOLDERS WHO CAN ELECT MEMBERS OF THE GOVERNING BODY FORM 990, PART VI, QUESTION 7A BOARD MEMBERS ARE ELECTED BY THE MEMBERSHIP OF THE COOPERATIVE. ADDRESS OF THOSE WHO CANNOT BE REACHED AT ORGANIZATION'S MAILING ADDRESS FORM 990, PART VI, QUESTION 9 PAUL HILGERS 2804 W FRESCO DRIVE AUSTIN, TX 78731 MIKE VOLLMER 8402 SILVER MOUNTAIN COVE AUSTIN, TX 78737 JAMES BLANTON PO BOX 394 JOHNSON CITY, TX 78636 THERESA OWENS 509 MEADOW OAKS DRIPPING SPRINGS, TX 78620 OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 PATRONAGE DIVIDENDS ALLOCATED TO MEMBERS $ 55,511,060 AUTHORIZED RETIREMENT PATRONAGE CAPITAL (13,415,993) CHANGE IN MEMBERSHIP CERTIFICATES 226,149 EQUITY IN SUBSIDIARY EARNINGS (461,424) EXPENSES RECORDED TO NET ASSETS 1,403 ------------ $ 41,861,195 SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS FORM 990, PART VI, QUESTION 4 THE MEMBERS HAVE APPROVED AND MADE THE FOLLOWING CHANGES TO THE ORGANIZATIONAL DOCUMENTS SINCE THE PRIOR FORM 990 WAS FILED: AMENDED ARTICLE II, SECTION 1, TO ALLOW ALTERNATIVE SITES AND DATES TO BE SET FOR THE COOPERATIVE ANNUAL MEETING, WHILE PRESERVING THE REQUIREMENT TO PROVIDE MAILED NOTICE OF SUCH MEETING. FORMER PROVISION REQUIRED ANNUAL MEETINGS TO BE FACILITATED ON FATHER'S DAY WEEKEND. AMENDED ARTICLE III, SECTION 2, TO TIGHTEN THE CONFLICT OF INTEREST PROHIBITIONS FOR DIRECTORS, AND TO CLARIFY THE DURATION OF DIRECTOR TERMS. FORMER PROVISIONS EXCLUDED EMPLOYEES OF THE COOPERATIVE, OR EMPLOYEES OR DIRECTORS OF A WHOLESALE POWER SUPPLIER TO THE COOPERATIVE. NEW PROVISION ADDITIONALLY EXCLUDES OWNERS OF MORE THAN 10 PERCENT OF THE COMPANIES AND ENTITIES THAT HAVE RECEIVED MORE THAN $25,000 IN BUSINESS FROM THE COOPERATIVE DURING THE PREVIOUS YEAR, OR HAVE SOLD MORE THAN 5 PERCENT OF THE ENERGY PURCHASED BY THE COOPERATIVE DURING THE PREVIOUS YEAR. FORMER PROVISION DID NOT SPECIFY HOW THREE-YEAR TERMS WERE TO BE MEASURED. NEW PROVISION SPECIFIES THAT THREE YEARS MEANS FROM AN ANNUAL MEETING AT WHICH ELECTION TOOK PLACE TO THE ANNUAL MEETING THREE YEARS LATER. AMENDED ARTICLE III, SECTION 4, TO ELIMINATE LANGUAGE CALLING FOR A ONE-TIME REFERENDUM IN 2011 ON THE QUESTION OF DIRECTOR ELECTION METHODOLOGY (AT-LARGE, SINGLE-MEMBER-DISTRICTS, OR HYBRID). THE MEASURE WAS SUPERFLUOUS, AFTER SUCH ELECTION WAS CONDUCTED IN ACCORDANCE WITH A NOW-ELIMINATED BYLAW. AMENDED ARTICLE III, SECTION 5, TO CLARIFY THAT A DIRECTOR IS SUBJECT TO THE QUALIFICATIONS IN PLACE AT THE TIME OF HIS OR HER MOST RECENT ELECTION, AND NOT ANY SUBSEQUENTLY-PASSED QUALIFICATIONS. AMENDED ARTICLE III, SECTION 7, TO CLARIFY THAT THE BOARD MAY VOTE TO PAY A FIXED SUM AND REASONABLE EXPENSES TO A DIRECTOR FOR ATTENDANCE AT A MEMBER MEETING, NOT JUST AT MEETINGS OF THE BOARD. AMENDED ARTICLE VII, SECTION 2, TO CLARIFY THE ACCOUNTING CLASSIFICATION AND RESTRICTIONS ON PAYMENT TO MEMBERS OF RESIDUAL AMOUNTS LEFT AFTER PAYMENT OF DISCOUNTED PATRONAGE CAPITAL TO COOPERATIVE MEMBERS. DIFFERENCE IN AMOUNT REPORTED FROM PRIOR YEAR FORM 990 FORM 990, PART I, LINES 11 & 14 THE COOPERATIVE DID NOT REPORT ON THEIR 2010 FORM 990 BENEFITS PAID TO OR FOR MEMBERS ON PART IX, LINE 4. HOWEVER, THE INCREASED TRANSPARENCY REQUESTED BY THE INTERNAL REVENUE SERVICE AND EFFECTIVE FOR THE 2011 FORM 990 FILING REQUIRES AN AMOUNT TO BE REPORTED IN THE CURRENT YEAR. TO ENSURE COMPARABILITY BETWEEN TAX YEARS, THE COOPERATIVE ELECTS TO INCLUDE THE AMOUNT THAT WOULD HAVE BEEN REPORTED ON LINE 4 ON THE 2010 FORM 990 ON PART 1 AS A PRIOR YEAR AMOUNT, AS IF THE REPORTING REQUIREMENTS WERE IDENTICAL IN BOTH YEARS. THEREFORE, THE PRIOR YEAR AMOUNT SHOWN ON THE 2011 FORM 990, PART 1, LINE 14 WILL BE DIFFERENT THAN THAT REPORTED AS CURRENT IN 2010. THE AMOUNT SHOWN ON LINES 18 AND 19 FOR THE PRIOR YEAR WILL ALSO DIFFER FROM THOSE AMOUNTS REPORTED ON THE 2010 FORM 990 FOR THE SAME REASON. THE COOPERATIVE HAS ALSO DETERMINED THAT RENTAL REVENUE RECEIVED FROM POLE RENTALS SHOULD BE INCLUDED ON PART VIII, LINE 6D IN 2011. TO INCREASE CONSISTENCY, THE RENTAL REVENUE FROM THE PRIOR YEAR HAS BEEN RECLASSIFIED FROM LINE 9 TO LINE 11 ON PART I OF THE 2011 FORM 990. BENEFITS PAID TO OR FOR MEMBERS FORM 990, PART IX, LINE 4 THE COOPERATIVE HAS INTERPRETED THE AMOUNTS TO BE REPORTED ON PART IX, LINE 4, AS AMOUNTS ALLOCATED AND CALCULATED BASED ON 2011 AUDITED MARGINS. WHILE THESE AMOUNTS WERE NOT PAID OUT TO MEMBERS BEFORE DECEMBER 31, 2011, THE AMOUNT INCLUDED ON THE 2011 FORM 990 IS GENERATED USING 2011 FINANCIAL DATA AND RESULTS. PEC SCHOLARSHIP FUND 201 S AVENUE F JOHNSON CITY TX 78636 742897600 SCHOLARSHIPS TX 501(C)(3) PF NA ENVISION UTILITY SOFTWARE CORP 4401 MASTHEAD NE SUITE 160 ALBUQUERQUE NM 87109 850388107 SOFTWARE DEVELOP NM NA C CORPORATION -461424 0 1.00000 false true false false false false false false false false false false false false false false false false PEC SCHOLARSHIP FUND B 39000