2012-08-14T10:22:15-05:00 2011-12-31 810446334 DOUGLAS WILSON & COMPANY PC 1000 FIRST AVENUE SOUTH GREAT FALLS MT 59401 990 2011-01-01 810218082 GLACIER ELECTRIC COOPERATIVE INC GLAC 4068735566 410 E MAIN ST CUT BANK MT 594272090 JASON BRONEC 4068735566 2012-08-13 1 RANDAL J BOYSUN P00039907 4067614645 2011 2016-02-24 21:20:13Z JASON BRONEC 410 E MAIN ST CUT BANK MT 59427 14482382 0 X WWW.GLACIERELECTRIC.COM X 1945 MT RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS 9 8 47 0 0 0 0 0 13549283 14270252 69383 67894 187715 144236 13806381 14482382 0 0 1769674 1131897 2872704 2770043 0 0 0 9164003 9936047 13806381 13837987 0 644395 36038773 37134871 19336186 19861990 16702587 17272881 TRANSMISSION AND DISTRIBUTION OF ELECTRICITY TO ITS MEMBERS, PRIMARILY SERVING GLACIER COUNTY, MT 0 0 10095632 RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS LOCATED IN NORTHERN PORTION OF MONTANA 10095632 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 1 36 0 47 1 0 0 0 0 0 0 0 14414488 254051 0 X 9 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X JASEN BRONEC 4068735566 410 E MAIN ST CUT BANK MT 59427 BRIAN ELLIOTT 6.40 X 9250 0 243 DAVE LOSING 2.40 X 6150 0 462 DARROL BERKRAM 1.90 X 6900 0 462 JAMES NEWMAN 6.10 X 8600 0 208 WILLARD HJARTARSON 2.00 X 5700 0 462 ZITA BREMNER 2.00 X 5550 0 0 LEE HOLDEN 2.00 X 7350 0 208 BRUCE BRADLEY 5.90 X 8550 0 462 MILES LEWIS 7.00 X 9250 0 462 JASEN BRONEC 40.00 X 150706 0 77774 218006 0 80743 1 0 1 0 OUTBACK POWER COMPANY PO BOX 358 GREAT FALLS MT 59403 LINE CONST/MAINT 527807 ASPEN FORESTRY INC 745 CAPISTRANO DRIVE KALISPELL MT 59901 RIGHT OF WAY CLEARING 130588 2 SALE OF UTILITY SERVIC 221000 14270252 14270252 14270252 67894 67894 CAPITAL CREDITS 221000 117195 117195 OTHER NON-OPERATING IN 221000 27041 27041 144236 14482382 14482382 0 0 X 1131897 1131897 198006 198006 1440822 1440822 468527 468527 456117 456117 206571 206571 84844 84844 835299 835299 1642700 1642700 82466 82466 COST OF POWER 4897608 4897608 DISTRIBUTION EXPENSE 803249 803249 TAXES 558507 558507 OUTSIDE SERVICES 194262 194262 837112 226372 610740 13837987 10095632 3742355 0 563703 1012895 1401327 1355323 611046 539696 76667 18363 56425725 23987742 31646140 32437983 1682284 1679371 57606 91240 36038773 37134871 1477385 1592058 24078 30105 16177689 16499051 1657034 1740776 19336186 19861990 X 17028167 17808714 11065 11065 -336645 -546898 16702587 17272881 36038773 37134871 X 644395 -74101 X X 0 1 1 X 0 2226890 22260078 -20033188 54198835 1727664 52471171 32437983 CUSTOMER DEPOSITS 299055 ADVANCES 128831 OTHER DEFERRED CREDITS 802586 OTHER LIABILITIES & ACCRUALS 510304 1740776 14482382 13837987 644395 -74101 -74101 570294 14482382 0 14482382 0 14482382 12706090 0 12706090 1131897 1131897 13837987 PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN SUBSIDIARY RETAINED EARNINGS ($468,683) -468,683. RETIREMENT OF CAPITAL CREDITS ($744,495) -744,495. INCREASE IN MEMBERSHIPS FROM PRIOR YEAR $1,660 1,660. ALLOCATION OF 2011 NET MARGINS 1,776,292. CHANGE IN OTHER EQUITIES $5,520 5,520. LOSSES NOT ALLOCATED -644,395. TOTAL TO SCHEDULE D, PART XI, LINE 8: -74,101. PART XIII, LINE 4B - OTHER ADJUSTMENTS: ALLOCATION OF 2011 NET MARGINS 1,131,897. X X 0 0 0 JASEN BRONEC 130706 0 0 0 20000 0 0 0 77774 0 228480 0 0 0 DAVE LOSING TRUSTEE OF GLACIER ELECTRIC AND OWNS CUT BANK TIRE 19896 PROVIDES TIRE SERVICES AND SUPPLIES 0 FORM 990, PART VI, SECTION A, LINE 6 GLACIER ELECTRIC COOPERATIVE IS A MEMBERSHIP ORGANIZATION WHOSE MEMBERS HAVE THE RIGHT TO ELECT THE BOARD OF DIRECTORS AND RECEIVE CAPITAL CREDITS FROM THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A A COMMITTEE NOMINATES MEMBERS FOR EACH SEAT ON THE BOARD OF DIRECTORS. AT THE ANNUAL MEETING, A VOTE OF THE ENTIRE MEMBERSHIP IS TAKEN TO APPROVE OR AMEND THE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO ORGANIZATIONAL BY-LAWS AND SELLING A SUBSTANTIAL PORTION OF PROPERTY REQUIRES MEMBER APPROVAL. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE ORGANIZATION'S INDEPENDENT CPA, REVIEWED BY MANAGEMENT FOR ANY CORRECTIONS, AND PRESENTED TO THE BOARD FOR THEIR REVIEW AND QUESTIONS. AFTER THE BOARD REVIEWED, ALL BOARD MEMBERS WERE POLLED FOR THEIR APPROVAL OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICIES ARE REVIEWED ANNUALLY BY ALL MEMBERS OF THE BOARD. MANAGEMENT MONITORS THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE GENERAL MANAGER IS DETERMINED BY A COMMITTEE OF THE BOARD OF DIRECTORS AND APPROVED BY THE FULL BOARD. COMPARABLE DATA FROM OTHER COOPERATIVES AND PERFORMANCE REVIEWS ARE EVALUATED AS WELL. FORM 990, PART VI, SECTION C, LINE 19 ALL PUBLIC COOPERATIVE DOCUMENTS MAY BE REQUESTED FROM THE COOPERATIVE OFFICE DURING NORMAL BUSINESS HOURS. BENEFITS PAID TO/FOR MEMBERS FORM 990, PAGE 10, PART IX, LINE 4 THIS LINE ITEM INCLUDES PATRONAGE TO BE ALLOCATED TO MEMBERS IN 2012 FOR THE 2011 TOTAL NET MEARGINS. INCLUDING THESE DIVIDENDS REDUCES NET MARGINS TO $0 FOR THE FORM 990 WHICH IS NOT IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WHICH INCLUDES THESE PATRONAGE DIVIDENDS AS CHANGES IN NET ASSETS ON THE 2012 FINANCIAL STATEMENTS. A RECONCILIATION TO THE AUDITED FINANCIAL STATEMENTS IS INCLUDED IN SCHEDULE D. COMPARATIVE INFORMATION ON PAGE 1 OF THE FORM 990 HAS BEEN ADJUSTED BASED ON THE NEW INSTRUCTIONS FOR "BENEFITS PAID TO/FOR MEMBERS" WHICH WILL DIFFER FROM THE INFORMATION PRESENTED ON THE 2010 FORM 990 FILED WITH THE IRS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: CHANGE IN SUBSIDIARY RETAINED EARNINGS ($468,683) -468,683. RETIREMENT OF CAPITAL CREDITS ($744,495) -744,495. INCREASE IN MEMBERSHIPS FROM PRIOR YEAR $1,660 1,660. ALLOCATION OF 2011 NET MARGINS 1,776,292. CHANGE IN OTHER EQUITIES $5,520 5,520. LOSSES NOT ALLOCATED -644,395. TOTAL TO FORM 990, PART XI, LINE 5: -74,101. OVERSIGHT OF AUDIT BY BOARD OF DIRECTORS FORM 990, PAGE 12, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. GLOBAL NET INC 421 WEST GRIFFIN DRIVE BOZEMAN MT 59715 810431874 INTERNET SERVICE MT C 0.60000 0 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 0 0