STRATEGY STUDIO / PUBLIC DATA EXPLORER

SURRY-YADKIN ELECTRIC MEMBERSHIP CORPORATION: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization
SURRY-YADKIN ELECTRIC MEMBERSHIP CORPORATION (EIN 56-0421795)
Tax period
2011-01-01 to 2011-12-31
Filed
2012-07-24
IRS object ID
201222069349300212
Schema version
2011v1.2
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

FieldValueIRS element (for citing)
Timestamp2012-07-24T10:02:15-05:00Timestamp
Tax Period End Date2011-12-31TaxPeriodEndDate

Preparer Firm PreparerFirm

FieldValueIRS element (for citing)
EIN560747981EIN

Preparer Firm Business Name PreparerFirmBusinessName

FieldValueIRS element (for citing)
Business Name Line1DIXON HUGHES GOODMAN LLPBusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

FieldValueIRS element (for citing)
Address Line1110 EXCHANGE STREET SUITE GAddressLine1
CityDANVILLECity
StateVAState
ZIP Code24541ZIPCode
FieldValueIRS element (for citing)
Return Type990ReturnType
Tax Period Begin Date2011-01-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN560421795EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1SURRY-YADKIN ELECTRIC MEMBERSHIP CORPBusinessNameLine1
FieldValueIRS element (for citing)
Name ControlSURRNameControl
Phone3363568241Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line1P O BOX 305AddressLine1
CityDOBSONCity
StateNCState
ZIP Code270170305ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameGREG PUCKETTName
TitleMANAGERTitle
Phone3363568241Phone
Date Signed2012-07-23DateSigned
Authorize Third Party1AuthorizeThirdParty

Preparer Preparer

FieldValueIRS element (for citing)
NameCATHY LILESName
PTINP00440600PTIN
Phone4347925334Phone
FieldValueIRS element (for citing)
Tax Year2011TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonGREG PUCKETTNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line1PO BOX 305AddressLine1
CityDOBSONCity
StateNCState
ZIP Code27017ZIPCode
FieldValueIRS element (for citing)
Gross Receipts44961628GrossReceipts
Group Return For Affiliates0GroupReturnForAffiliates
Organization501cXOrganization501c
Web SiteHTTP://WWW.SYEMC.COMWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1940YearFormation
State Legal DomicileNCStateLegalDomicile
Activity Or Mission DescriptionSALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERSActivityOrMissionDescription
Nbr Voting Members Governing Body10NbrVotingMembersGoverningBody
Nbr Independent Voting Members10NbrIndependentVotingMembers
Total Nbr Employees58TotalNbrEmployees
Total Nbr Volunteers0TotalNbrVolunteers
Total Gross UBI0TotalGrossUBI
Net Unrelated Business Txbl Income0NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year0ContributionsGrantsPriorYear
Contributions Grants Current Year0ContributionsGrantsCurrentYear
Program Service Revenue Prior Year45056696ProgramServiceRevenuePriorYear
Program Service Revenue CY44675427ProgramServiceRevenueCY
Investment Income Prior Year137452InvestmentIncomePriorYear
Investment Income Current Year161239InvestmentIncomeCurrentYear
Other Revenue Prior Year280553OtherRevenuePriorYear
Other Revenue Current Year124962OtherRevenueCurrentYear
Total Revenue Prior Year45474701TotalRevenuePriorYear
Total Revenue Current Year44961628TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year0GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY4455GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY872645BenefitsPaidToMembersCY
Salaries Etc Prior Year613089SalariesEtcPriorYear
Salaries Etc Current Year988322SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year0TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY0TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year0TotalFundrsngExpCurrentYear
Other Expense Prior Year43390383OtherExpensePriorYear
Other Expenses Current Year42772723OtherExpensesCurrentYear
Total Expenses Prior Year44003472TotalExpensesPriorYear
Total Expenses Current Year44638145TotalExpensesCurrentYear
Revenues Less Expenses Prior Year1471229RevenuesLessExpensesPriorYear
Revenues Less Expenses CY323483RevenuesLessExpensesCY
Total Assets BOY83354767TotalAssetsBOY
Total Assets EOY88541838TotalAssetsEOY
Total Liabilities BOY57334215TotalLiabilitiesBOY
Total Liabilities EOY64061147TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY26020552NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY24480691NetAssetsOrFundBalancesEOY
Mission DescriptionSALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERSMissionDescription
Significant New Program Services0SignificantNewProgramServices
Significant Change0SignificantChange
DescriptionSALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERSDescription
Described In501 C30DescribedIn501C3
Schedule B Required0ScheduleBRequired
Political Activities0PoliticalActivities
Subject To Proxy Tax0SubjectToProxyTax
Donor Advised Funds0DonorAdvisedFunds
Conservation Easements0ConservationEasements
Collections Of Art0CollectionsOfArt
Credit Counseling0CreditCounseling
Term Or Permanent Endowments0TermOrPermanentEndowments
Report Land Bldg Equip1ReportLandBldgEquip
Report Invest Oth Securities0ReportInvestOthSecurities
Report Prog Rel Invest0ReportProgRelInvest
Report Other Assets0ReportOtherAssets
Report Other Liabilities1ReportOtherLiabilities
Report Fin48 Footnote1ReportFin48Footnote
Independent Audit Financial Stmt1IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt0ConsolidatedAuditFinancialStmt
School0School
Foreign Office0ForeignOffice
Foreign Activities0ForeignActivities
More Than5000 K To Organizations0MoreThan5000KToOrganizations
More Than5000 K To Individuals0MoreThan5000KToIndividuals
Professional Fundraising0ProfessionalFundraising
Fundraising Activities0FundraisingActivities
Gaming0Gaming
Hospital0Hospital
Grants To Organizations0GrantsToOrganizations
Grants To Individuals0GrantsToIndividuals
Schedule J Required1ScheduleJRequired
Tax Exempt Bonds0TaxExemptBonds
Loan To Officer Or DQP0LoanToOfficerOrDQP
Grant To Related Person0GrantToRelatedPerson
Bsnss Rltnshp With Organization0BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member0BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp0OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions0DeductibleNonCashContributions
Deductible Contributions Of Art0DeductibleContributionsOfArt
Terminated0Terminated
Partial Liquidation0PartialLiquidation
Disregarded Entity0DisregardedEntity
Related Entity0RelatedEntity
Related Org Controlled Entity0RelatedOrgControlledEntity
Transaction Related Entity0TransactionRelatedEntity
Activities Conducted Partnership0ActivitiesConductedPartnership
Schedule O Required1ScheduleORequired
Number Forms Transmitted With109621NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup Witholding1ComplianceWithBackupWitholding
Number Of Employees58NumberOfEmployees
Employment Tax Returns Filed1EmploymentTaxReturnsFiled
Unrelated Business Income0UnrelatedBusinessIncome
Foreign Financial Account0ForeignFinancialAccount
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTrans
Taxable Party Notification0TaxablePartyNotification
Non Deductible Contributions0NonDeductibleContributions
Quid Pro Quo Contributions0QuidProQuoContributions
Form8282 Property Disposed Of0Form8282PropertyDisposedOf
Funds To Pay Premiums0FundsToPayPremiums
Premiums Paid0PremiumsPaid
Gross Income From Members44675427GrossIncomeFromMembers
Gross Income Other Sources257259GrossIncomeOtherSources
Indoor Tanning Services0IndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members10NbrVotingGoverningBodyMembers
Number Independent Voting Members10NumberIndependentVotingMembers
Family Or Business Relationship0FamilyOrBusinessRelationship
Delegation Of Management Duties0DelegationOfManagementDuties
Changes To Organizing Docs0ChangesToOrganizingDocs
Material Diversion Or Misuse0MaterialDiversionOrMisuse
Members Or Stockholders1MembersOrStockholders
Election Of Board Members1ElectionOfBoardMembers
Decisions Subject To Approval0DecisionsSubjectToApproval
Minutes Of Governing Body1MinutesOfGoverningBody
Minutes Of Committees1MinutesOfCommittees
Officer Mailing Address0OfficerMailingAddress
Local Chapters0LocalChapters
Form990 Provided To Governing Body1Form990ProvidedToGoverningBody
Conflict Of Interest Policy1ConflictOfInterestPolicy
Annual Disclosure Covered Persons1AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement0RegularMonitoringEnforcement
Whistleblower Policy0WhistleblowerPolicy
Document Retention Policy1DocumentRetentionPolicy
Compensation Process CEO1CompensationProcessCEO
Compensation Process Other1CompensationProcessOther
Investment In Joint Venture0InvestmentInJointVenture
States Where Copy Of Return Is FiledNCStatesWhereCopyOfReturnIsFiled
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

FieldValueIRS element (for citing)
Business Name Line1GREG PUCKETT - SURRY YADKIN EMCBusinessNameLine1
FieldValueIRS element (for citing)
Telephone Number3363568241TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line1510 SOUTH MAIN STREETAddressLine1
CityDOBSONCity
StateNCState
ZIP Code27017ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (16 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficerHighest Compensated EmployeeHighestCompensatedEmployee
GRADY V NICHOLS
DIRECTOR4.00X1105100
JOHN C BROOKS
DIRECTOR4.00X679400
BOBBY S ADAMS
DIRECTOR4.00X1129300
WAYNE MCINNIS
DIRECTOR0.00X13700
ALVIN R REID SR
DIRECTOR3.50X1064300
BENNY G WILES
DIRECTOR6.00X1932700
DAVID PENDRY
DIRECTOR7.00X2654300
J AUBREY JOYCE
TREASURER3.501064300X
LEE VON SPEAKS
PRESIDENT11.001619300X
KAROLINE C OVERBY
SECRETARY7.002636800X
WILLARD L SWIFT
VICE PRESIDENT7.00941100X
GREG PUCKETT
EXEC. VP & GENERAL MGR40.00127410085637X
MICHAEL S BEASLEY
MANAGER40.00155199051231X
ROBERT MAXWELL
SYSTEM ENGINEER40.00106252042416X
HARRY BRINTLE
APPARATUS TECHNICIAN52.00104143031708X
LINDA CARTER
MGR OF ADMINISTRATION & FINANCE40.00100397035526X
FieldValueIRS element (for citing)
Total Reportable Comp From Org741804TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation246518TotalOtherCompensation
Number Individuals GT100 K5NumberIndividualsGT100K
Formers Listed0FormersListed
Total Comp GT150 K1TotalCompGT150K
Compensation From Other Sources0CompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
CARTER UTILITY TREE SERVICE INC
213 APOLLO DRIVEMOUNT AIRYNC27030RIGHT OF WAY SERVICES1543808
PIKE ELECTRIC INC
PO BOX 1000 DEPT 517MEMPHISTN381480517OVERHEAD AND UNDERGROUND DISTRBUTION SYS1160662
BELLWETHER MANAGEMENT SOLUTIONS
PO BOX 2176CORNELIUSNC280312176METER READING, COLLECTING AND DISCONNECT573383
NATIONAL INFORMATION SOLUTIONS COOPERATI
PO BOX 86MINNEAPOLISMN554862053MAIL BILLINGS AND DELIQUENTS, MAINTENANC476247
GREENCO SOLUTIONS INC
PO BOX 602060CHARLOTTENC28260MONITORS RENEWABLE ENERGY PROGRAMS & CER227163
FieldValueIRS element (for citing)
Number Of Contractors GT100 K6NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncomeExclusionExclusionAmount
ELECTRICITY2210004339103243391032
PATRONAGE ALLOCATIONS221000733826733826
POLE RENTAL INCOME221000383333$383,333
CONTRIBUTIONS IN AID221000167236167236
FieldValueIRS element (for citing)
Total Program Service Revenue44675427TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column131128TotalRevenueColumn
Exclusion$131,128ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

FieldValueIRS element (for citing)
Other30111Other

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

FieldValueIRS element (for citing)
Other0Other

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Other30111Other

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column30111TotalRevenueColumn
Related Or Exempt Function Income30111RelatedOrExemptFunctionIncome

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnExclusionExclusionAmount
DISCOUNTED CAPITAL CRE22100095395$95,395
INCOME FROM INVESTMENT22100029567$29,567
FieldValueIRS element (for citing)
Total Other Revenue124962TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column44961628TotalRevenueColumn
Related Or Exempt Function Income44322205RelatedOrExemptFunctionIncome
Unrelated Business Revenue0UnrelatedBusinessRevenue
Exclusion$639,423ExclusionAmount

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total4455Total

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total872645Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total275813Total

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total465991Total

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total184586Total

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total61932Total

Interest Interest

FieldValueIRS element (for citing)
Total1744937Total

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total2776405Total

Other Expenses OtherExpenses (4 entries)

DescriptionDescriptionTotalTotal
COST OF POWER27905348
DISTRIBUTION MAINTENANC3167496
DISTRIBUTION OPERATION2151765
CONSUMER ACCOUNTS1683198

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total3343574Total

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total44638145Total

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY936416BOY
EOY1308040EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
EOY300000EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY6433413BOY
EOY5635752EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

FieldValueIRS element (for citing)
BOY638938BOY
EOY771461EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY131166BOY
EOY383238EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis98312311LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec23038321LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY71029233BOY
EOY75273990EOY

Investments Other Securities InvestmentsOtherSecurities

FieldValueIRS element (for citing)
BOY4173747BOY
EOY4857512EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY11854BOY
EOY11845EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY83354767BOY
EOY88541838EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY4777668BOY
EOY4660982EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

FieldValueIRS element (for citing)
BOY43613348BOY
EOY49632482EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY8943199BOY
EOY9767683EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY57334215BOY
EOY64061147EOY
FieldValueIRS element (for citing)
Do Not Follow SFAS117XDoNotFollowSFAS117

Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

FieldValueIRS element (for citing)
BOY26020552BOY
EOY24480691EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY26020552BOY
EOY24480691EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY83354767BOY
EOY88541838EOY
FieldValueIRS element (for citing)
Info In Schedule O Part XIXInfoInScheduleOPartXI
Reconcilation Revenue Expenses323483ReconcilationRevenueExpenses
Reconcilation Other Changes-1863344ReconcilationOtherChanges
Info In Schedule O Part XIIXInfoInScheduleOPartXII
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or Review0AccountantCompileOrReview
FS Audited1FSAudited
Audit Committee1AuditCommittee
Financial Statement SeparateXFinancialStatementSeparate
Federal Grant Audit Required0FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Land Land

FieldValueIRS element (for citing)
Other Cost Or Other Basis708672OtherCostOrOtherBasis
Book Value708672BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis1883326OtherCostOrOtherBasis
Depreciation935820Depreciation
Book Value947506BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Other Cost Or Other Basis95720313OtherCostOrOtherBasis
Depreciation22102501Depreciation
Book Value73617812BookValue
FieldValueIRS element (for citing)
Total Of Book Value Land Buildings75273990TotalOfBookValueLandBuildings

Other Securities OtherSecurities (3 entries)

DescriptionDescriptionBook ValueBookValueMethod Of ValuationMethodOfValuation
NRUCFC1013383C
PATRONAGE CAPITAL CERTIFICATES3482346C
DIVERSIFIED ENERGY361783C
FieldValueIRS element (for citing)
Total Of Book Value Securities4857512TotalOfBookValueSecurities

Other Assets OtherAssets

FieldValueIRS element (for citing)
DescriptionINTEREST RECEIVABLEDescription
Book Value11845BookValue
FieldValueIRS element (for citing)
Total Book Value Other Assets11845TotalBookValueOtherAssets

Other Liabilities OtherLiabilities (4 entries)

DescriptionDescriptionAmountAmount
ACCUM PROV FOR RETIREMENT BENEFITS$8,374,300
CONSUMER DEPOSITS$1,147,300
DEFERRED CREDIT$104
POWER COST DEFERRAL$245,979
FieldValueIRS element (for citing)
Total Of Amounts9767683TotalOfAmounts
Total Revenue44961628TotalRevenue
Total Expenses44638145TotalExpenses
Excess Or Deficit For Year323483ExcessOrDeficitForYear
Other-$1,863,344OtherAmount
Total Adjustments-1863344TotalAdjustments
Excess Or Deficit Per FS-1539861ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt44961628TotRevenueEtcAuditedFinclStmt
Revenue Not Rptd F9900RevenueNotRptdF990
Revenue Subtotal44961628RevenueSubtotal
Revenue Not Rptd On Fin Stmt0RevenueNotRptdOnFinStmt
Total Revenue Per Form99044961628TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt44638145TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F9900ExpensesNotRptdF990
Expenses Subtotal44638145ExpensesSubtotal
Expenses Not Rptd On Fin Stmt0ExpensesNotRptdOnFinStmt
Total Expenses Per Form99044638145TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)

IdentifierIdentifierReturn ReferenceReturnReferenceExplanationExplanation
DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:PART X:THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2011 AND 2010.
PART XI, LINE 8 - OTHER ADJUSTMENTS:RETIREMENT OF CAPITAL CREDITS -872,645. CHANGE IN MEMBERSHIPS -1,195. CHANGE IN OTHER EQUITY 1,000,390. CONTRIBUTIONS IN AID -167,236. ACCUMULATED OTHER COMPREHENSIVE INCOME -1,727,263. DISCOUNTED CAPITAL CREDITS -95,395. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,863,344.
SEE ATTACHED SUPPLEMENTAL SCHEDULE.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance Payment0SeverancePayment
Supplemental Nonqual Retire Plan0SupplementalNonqualRetirePlan
Equity Based Comp Arrangement0EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)

Base Compensation Filing OrgBaseCompensationFilingOrgComp Based On Related OrgsCompBasedOnRelatedOrgsBonus Filing OrgBonusFilingOrgBonus Related OrgsBonusRelatedOrgsOther Compensation Filing OrgOtherCompensationFilingOrgOther Compensation Related OrgsOtherCompensationRelatedOrgsDeferred Comp Filing OrgDeferredCompFilingOrgDeferred Comp Related OrgsDeferredCompRelatedOrgsNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgNontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgsTotal Compensation Filing OrgTotalCompensationFilingOrgTotal Compensation Related OrgsTotalCompensationRelatedOrgsComp Report Prior990 Filing OrgCompReportPrior990FilingOrgComp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
GREG PUCKETT
12741000000713200143170213047000
MICHAEL S BEASLEY
15519900000394030118280206430000

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (7 entries)

Return ReferenceReturnReferenceExplanationExplanationIdentifierIdentifier
FORM 990, PART VI, SECTION A, LINE 6THE ORGANIZATION OPERATES AS A COOPERATIVE. MEMBERSHIP IS COMPRISED OF THOSE INDIVIDUALS AND BUSINESSES THAT USE THE ORGANIZATION'S SERVICES. THERE ARE NO CLASSES OF MEMBERSHIP. EACH MEMBER HAS ONE VOTE.
FORM 990, PART VI, SECTION A, LINE 7ATHE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS IN ACCORDANCE WITH THE BYLAWS OF THE CORPORATION.
FORM 990, PART VI, SECTION B, LINE 11ACCOUNTING PERSONNEL REVIEW THE 990 FOR ACCURACY BEFORE FURNISHING IT TO THE MANAGER AND BOARD OF DIRECTORS FOR THEIR APPROVAL.
FORM 990, PART VI, SECTION B, LINE 15SALARIES ARE REVIEWED BY THE BOARD OF DIRECTORS AND FILES ARE MAINTAINED FOR THE REVIEW PROCESS BY WHICH MERIT RAISES ARE GRANTED.
FORM 990, PART VI, SECTION C, LINE 19A COPY OF THE BYLAWS ARE PROVIDED TO NEW MEMBERS. A FINANCIAL STATEMENT IS PROVIDED TO THE MEMBERS AS A PART OF THE ORGANIZATION'S ANNUAL REPORT. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS.
FORM 990, PART XI, LINE 5:RETIREMENT OF CAPITAL CREDITS -872,645. CHANGE IN MEMBERSHIPS -1,195. CHANGE IN OTHER EQUITY 1,000,390. CONTRIBUTIONS IN AID -167,236. ACCUMULATED OTHER COMPREHENSIVE INCOME -1,727,263. DISCOUNTED CAPITAL CREDITS -95,395. TOTAL TO FORM 990, PART XI, LINE 5: -1,863,344.CHANGES IN NET ASSETS OR FUND BALANCES:
NO CHANGES IN CY