2012-03-30T10:46:24-00:00 2011-06-30 C ANTHONY EDWARDS P O BOX 334 COLUMBIA TN 384020334 990 2010-07-01 620186725 DUCK RIVER ELECTRIC MEMBERSHIP CORP DUCK 9316844621 P O BOX 89 SHELBYVILLE TN 37162 SHELIA R ROARK FINANCIAL SVS DIR 2011-11-15 true C ANTHONY EDWARDS 9313810667 2011-11-15 X 2010 2016-02-24 21:20:13Z SHELIA ROARK P O BOX 89 SHELBYVILLE TN 37162 178562844 false X www.dremc.com X 1936 TN Rural electric distribution to 70,847 members located primarily in Bedford, Coffee, Franklin, Giles, Marshall, Maury and Moore counties in Middle Tennessee. Rural electric distribution to 70,847 members located primarily in Bedford, Coffee, Franklin, Giles, Marshall, Maury and Moore counties in Middle Tennessee. 13 13 166 0 300000 0 155159919 178032130 372122 440552 76419 89959 155908460 178562641 0 0 11703658 11843227 0 0 140760024 163864373 152463682 175707600 3444778 2855041 181952367 204819789 100149338 118278689 81803029 86541100 Providing electric service to 70, 847 members primarily in Bedford, Coffee, Franklin, Giles, Marshall, Maury and Moore counties in Middle Tennessee. false false 175707600 178562641 Providing electric service to 70,847 members primarily in Bedford, Coffee, Franklin, Giles, Marshall, Maury and Moore counties in Middle Tennessee since the formation of the cooperative in May of 1936. 175707600 false false false false false false false false true false false false true false 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 80 0 true 166 true false false false false false false 176849291 1713350 false X 13 13 false false false false true true true true true false false true true true true true true true true false TN X X X SHELIA R ROARK DIRECTOR OF FINANCIA 9316844621 305 LEARNING WAY SHELBYVILLE TN 37160 JAMES M ALLISON 050.00 X 178590 0 89882 JAMES H MARTIN 043.00 X 126874 0 66712 MICHAEL WATSON 046.00 X 125232 0 22423 BLAKE BUTLER 045.00 X 124769 0 40973 CHARLES MCDONALD 047.00 X 121921 0 65880 DAVID YOUNG 045.00 X 120483 0 29376 RONALD ALDRIDGE 051.00 X 117972 0 56252 CHARLES GRISSOM 000.50 X 0 0 2167 ANTHONY KIMBROUGH 001.00 X 0 0 0 JAMES BRENT WILLIS 005.50 X X 12380 0 0 MIKE ENGLAND 004.25 X 9100 0 0 ROBERT DUBOIS 006.00 X 10210 0 0 JOHN MOSES 007.00 X X 9570 0 0 BUFORD JENNINGS 004.50 X X 10480 0 0 PHILIP DUNCAN 004.00 X 7360 0 0 BARRY COOPER 003.50 X X 10420 0 0 KENNETH STACY 002.45 X 9540 0 0 DWIGHT FOX 003.00 X 9320 0 0 GLENN NORFLEET 001.50 X 4280 0 0 LAURA WILLIS 002.50 X 9840 0 0 NELSON CROUCH 006.00 X 7150 0 0 WAYNE TUCKER 004.50 X 7950 0 0 BAXTER WHITE 005.50 X 4320 0 0 1037761 373665 9 true true false SERVICE ELECTRIC CO P O BOX 11154 CHATTANOOGA TN 37401 ELECTRIC LINE CONSTRUCTION 1032754 WOLF TREE SERVICE P O BOX 415000-0046 NASHVILLE TN 37241 TREE TRIMMING 921934 DILLARD SMITH CONSTRUCTION COMPANY P O BOX 277790 ATLANTA GA 30384 METER READING SERVICE 608585 ABC PROFESSIONAL TREE SERVICE 4831 OLD GALVESTON RD HOUSTON TX 77017 TREE TRIMMING 569303 J L MALONE ASSOCIATES P O BOX 3367 ALBANY GA 317063367 SUBSTATION CONSTRUCTION 560248 13 SALE OF ELECTRICITY 221000 174671322 174671322 POLE RENTAL 531190 2302081 2302081 MISCELLANEOUS 221000 2088010 2088010 178032130 431127 431127 9628 203 9425 9425 9425 PATRONAGE CAPITAL REFUND 221000 89959 89959 89959 178562641 175829433 2733208 0 0 0 0 577625 6760976 0 2171736 1817819 515071 0 137669 19988 0 0 0 180756 227423 304302 0 0 0 0 247094 3345270 0 6855658 530998 COST OF ELECTRICITY SOLD 139755148 DISTRIBUTION MAINTENANCE EXPENSE 3373784 DISTRIBUTION OPERATIONS EXPENSE 3199607 ADMINISTRATIVE GENERAL 3041075 CUSTOMER ACCOUNTS EXPENSE 2120834 524767 175707600 2921630 3538511 10000000 20300000 8375463 11644486 360000 360000 1677950 1437541 6128011 6248145 217149116 63460195 149501034 153688921 2988279 7602185 181952367 204819789 13726025 25461214 68295138 74346714 18128175 18470761 100149338 118278689 X 737720 736430 81065309 85804670 81803029 86541100 181952367 204819789 X 2855041 1883030 X X false true true X false false 1683190 1683190 11640516 4338326 7302190 8480789 5336938 3143851 195344621 53784931 141559690 153688921 OTHER LIABILITIES 2104030 PENSION LIABILITY - FASB158 7278512 CUSTOMER DEPOSITS 6063898 ADVANCES FOR CONSTRUCTION 3024321 18470761 178562641 175707600 2855041 1883030 1883030 4738071 178562641 178562641 178562641 175707600 175707600 175707600 XI 8 DECREASE IN MEMBERSHIPS 1,290 AMORTIZATION OF POST RETIREMENT BENEFITS 377,040 AND MEDICAL 65,280 - FASB71 UNREALIZED GAIN LOSS ON PENSION 2,691,276 MEDICAL 30,827 ACTUARIAL PENSION ADJUSTMENT - FASAB 87 - 2,003,004 AMORTIZATION OF PRIOR SERVICE COST/NET GAIN - LOSS - FASAB 106 MEDICAL 121,596 PENSION 486,304 ADJUST SETTLEMENT LOSS - PENSION EXPENSE - 1,102,472 UNBILLED REVENUE NET SEPT 2010 - 2,307,975 X true true X X X X X X false true false JAMES M ALLISON 178590 89882 268472 260215 JAMES H MARTIN 126874 66712 193586 187537 BLAKE BUTLER 124769 40973 165742 163790 CHARLES MCDONALD 121921 65880 187801 188474 RONALD ALDRIDGE 117972 56252 174224 168167 DAVID YOUNG 120483 29376 149859 MICHAEL WATSON 125232 22423 147655 152069 CHARLES GRISSOM 2167 2167 2600 I 1A EMPLOYEE REIMBURSEMENT OF HEALTH CLUB MEMBERSHIP DUES ALLOWANCE OF 50 OF DUES PAID TO A MAXIMUM OF 200 PER YEAR PER EMPLOYEE UPON PRESENTATION OF A PAID RECEIPT. NO HEALTH CLUB DUES WERE REIMBURSED TO ANY OFFICERS, DIRECTORS, TRUSTEES, OR THE PRESIDENT AND CEO. I 4B NO PAYMENTS WERE MADE TO ANY PARTICIPANT OF THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN FOR THE YEAR ENDING 6-30-2011. 7 3 Charles Grissom was a former employee who received more than 100,000.00 reportable compensation at Duck River Electric Membership Corporation. He received insurance benefit in the amount of 2,167.00 in FY 2011. Dwight Fox and Glenn Norfleet are former directors whose terms ended within the fiscal year reported yet received reportable compensation as stated in Part 7 Section A. Form 990 Part IV 6 The cooperative has members that pay a 10 membership fee when establishing metered service for electricity. Form 990 Part X 7A Members are entitled to vote for the directors on the ballot who represent the service area in which the members reside. Form 990 Part VI 7b Decisions to sell the cooperative require member approval. Changes to the Bylaws may be submitted for members approval. Form 990 Part VI 11 The cooperatives board members completed questionnaires which were then used for completion of Sections of IRS Form 990. The board also reviewed the cooperatives prior year IRS Form 990, information regarding change by IRS for the current year, and a completed IRS Form 990 for the current year at a series of board meetings, the last of which was held on October 26, 2011. Form 990 Part VI 12c All board members completed a questionnaire on various matters to be used in completing IRS Form 990. The questionnaire contained questions pertaining to potential conflicts of interest that would require disclosure. Form 990 Part VI 15 Compensation for the President and CEO is set by the Board based upon recommendations from a committee consisting of board officers and directors. The committee and the board rely on studies and reviews performed by an independent compensation consultant selected by the board as well as on data from the U. S. Bureau of Labor Statistics, a survey performed by various trade organizations and surveys performed at the committees request. The board, based on recommendations from the independent compensation consultant and the committee, sets the compensation for the President and CEO, approves salary ranges and a budget for adjustments thereto for all employees. The President and CEO then makes specific individual salary decisions for the employees. Form 990 Part VI 19 Governing documents such as the Bylaws are provided to each new member requesting electric service. Governing documents are provided to any current members who request such documents at the cooperatives offices. The governing documents are also posted and available to all members and the general public on the cooperatives website. The cooperatives financial information is published annually in the Tennessee magazine, which is a monthly periodical provided to the cooperatives membership. The annual financial information is provided to each member attending the cooperatives annual meeting. The cooperatives conflict of interest policies are also posted on the cooperatives website. Form 990 Part XI 5 1,883,030 Unbilled revenue net 2,307,975 decrease in memberships 1,290 amortization of post-retirement benefits 377,040 actuarial pension adjustment 2,691,276 amortization of prior service cost net services 2,003,004 assumption change on recalculation 486,304 settlement loss 1,102,472 unrealized gain loss medical plan 30,827 amortize medical plan 65,280 amortize prior service costs 121,596. Form 990 Part XII 2c The cooperative has an audit committee composed of five members of the cooperatives board of directors. This committee is responsible for the oversight of the cooperatives audit and recommends the independent auditor to the Board of Directors which makes the selection. This process has been in place for several years. Form 990 Part IV Section A Line 6 The cooperative has members that pay a 10 membership fee when establishing metered service for electricity. Form 990 Part X Section A Line 7A Members are entitled to vote for the directors on the ballot who represent the service area in which the members reside. Form 990 Part VI Section A Line 7b Decisions to sell the cooperative require member approval. Changes to the Bylaws may be submitted for members approval. Form 990 Part VI Section B Line 11 The cooperatives board members completed questionnaires which were then used for completion of Sections of IRS Form 990. The board also reviewed the cooperatives prior year IRS Form 990, information regarding change by IRS for the current year, and a completed IRS Form 990 for the current year at a series of board meetings, the last of which was held on October 26, 2011. Form 990 Part VI Section B Line 12c All board members completed a questionnaire on various matters to be used in completing IRS Form 990. The questionnaire contained questions pertaining to potential conflicts of interest that would require disclosure. Form 990 Part VI Section B Line 15 Compensation for the President and CEO is set by the Board based upon recommendations from a committee consisting of board officers and directors. The committee and the board rely on studies and reviews performed by an independent compensation consultant selected by the board as well as on data from the U. S. Bureau of Labor Statistics, a survey performed by various trade organizations and surveys performed at the committees request. The board, based on recommendations from the independent compensation consultant and the committee, sets the compensation for the President and CEO, approves salary ranges and a budget for adjustments thereto for all employees. The President and CEO then makes specific individual salary decisions for the employees. Form 990 Part VI Section C Line 19 Governing documents such as the Bylaws are provided to each new member requesting electric service. Governing documents are provided to any current members who request such documents at the cooperatives offices. The governing documents are also posted and available to all members and the general public on the cooperatives website. The cooperatives financial information is published annually in the Tennessee magazine, which is a monthly periodical provided to the cooperatives membership. The annual financial information is provided to each member attending the cooperatives annual meeting. The cooperatives conflict of interest policies are also posted on the cooperatives website. Form 990 Part XI Line 5 1,883,030 Unbilled revenue net 2,307,975 decrease in memberships 1,290 amortization of post-retirement benefits 377,040 actuarial pension adjustment 2,691,276 amortization of prior service cost net services 2,003,004 assumption change on recalculation 486,304 settlement loss 1,102,472 unrealized gain loss medical plan 30,827 amortize medical plan 65,280 amortize prior service costs 121,596. Form 990 Part XII Line 2c The cooperative has an audit committee composed of five members of the cooperatives board of directors. This committee is responsible for the oversight of the cooperatives audit and recommends the independent auditor to the Board of Directors which makes the selection. This process has been in place for several years.