2011-08-10T15:19:19-07:00 2010-12-31 990 2010-01-01 010056837 EASTERN MAINE ELECTRIC COOPERATIVE INC EAST 2074547555 P O BOX 425 CALAIS ME 046190425 Scott Hallowell 2074547555 2011-08-10 2010 2016-02-24 21:20:13Z Scott M Hallowell P O Box 425 Calais ME 046190425 8109377 0 X WWW.emec.com X 1940 ME EMEC is a non-profit consumer-owned electric utility serving parts of Aroostook, Penobscot and Washington Counties on Maine's eastern border with Canada. The primary goal of a rural electric cooperative is to provide quality electric service to its members-owners at the lowest cost consistent with sound management. 11 11 35 0 0 0 0 0 7854352 7960134 102423 149243 0 0 7956775 8109377 0 0 0 0 1463282 1627607 0 0 0 6202747 6210074 7666029 7837681 290746 271696 37385015 36247319 25749312 24342139 11635703 11905180 Eastern Maine Electric Cooperative, Inc. (EMEC) is Maine's premiere consumer-owned utility providing low cost energy solutions and adding value to our member's quality of life through creative application of technology, capital and a dedicated workforce. 0 0 7837681 0 8109377 Utility Systems Programs, General/Other: Delivery of Electric Power (12,617 Consumers) 0 0 0 7837681 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 45 0 35 1 0 0 0 0 0 7642385 225235 0 X 11 11 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SCOTT HALLOWELL CEO 2074547555 21 UNION ST CALAIS ME 046191819 James W Bala 4 X 1950 0 0 Virgil Farrar 2 X 1950 0 0 Earl Hill Jr 1 X 1800 0 0 John W Larkin 3 X 1950 0 0 Robert Olsson 1 X 1800 0 0 Ralph Ray 1 X 1950 0 0 Vernon Wentworth 2 X 1650 0 0 Wallace Lindahl 3 X 1950 0 0 Ralph Staples 4 X 1950 0 0 Albert Hartford 1 X 1800 0 0 R Scott Skinner 5 X 2550 0 0 Scott M Hallowell 50 X 132441 0 50105 153741 0 50105 1 0 1 0 Lucas Tree Experts P O Box 958 Portland ME 04104 tree clearing work 188394 NISC P O Box 1147 Mandan ND 58554 computing services 246567 2 0 Electricity Supply and Delivery 221000 7959829 7959829 0 0 Membership Dues 221000 305 305 0 0 0 0 0 0 7960134 149243 149243 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8109377 8109377 0 0 0 0 0 0 0 0 0 0 213193 213193 0 0 0 0 0 0 1414414 1414414 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 72771 72771 0 0 42715 42715 0 0 0 0 0 0 0 0 0 0 0 25210 25210 0 0 64293 64293 0 0 108991 108991 0 0 194731 194731 0 0 0 0 0 0 37195 37195 0 0 455352 455352 0 0 0 0 0 0 65901 65901 0 0 1043332 1043332 0 0 0 0 0 0 1742976 1742976 0 0 136831 136831 0 0 Distribution and Transmission 1193905 1193905 0 0 Consumer Accounts 229817 229817 0 0 Reg Fees, Energy Cons, LIAP 363298 363298 0 0 Purchased Power 174043 174043 0 0 Gen Admin, Membership Dues 258713 258713 0 0 0 0 0 0 7837681 7837681 0 0 170071 175574 2124649 85164 0 0 1107833 1197715 0 0 0 0 65625 0 739719 670034 594052 2277478 49946824 24907945 24975589 25038879 0 0 0 0 825022 838363 0 0 6782455 5964112 37385015 36247319 943039 861768 0 0 0 0 0 0 0 0 0 0 22015367 21286625 0 0 2790906 2193746 25749312 24342139 X 0 0 0 0 11635703 11905180 11635703 11905180 37385015 36247319 X 271696 -2219 X 0 1 1 X 0 0 351 351 0 400450 237344 163106 0 0 0 0 0 3114973 2208574 906399 0 46431050 22462027 23969023 25038879 Regulatory Assets 5964112 5964112 0 Regulatory Liability 554900 Accrued State Taxes Interest and Other 371966 Deferred Credits Customer Advances for Construction 1206411 Consumer Deposits 60469 2193746 8109377 7837681 271696 0 0 0 0 0 0 271696 8109377 0 0 0 0 0 8109377 0 0 0 8109377 7837681 0 0 0 0 0 7837681 0 0 0 7837681 SchD_P10_S00_L02 Schedule D, Part X, Line 2 Footnote to Financial Statements Eastern Maine Electric Cooperative, Inc. (EMEC) The Cooperative is a nonprofit organization and is exempt from federal income tax under Internal Revenue Code Section 501(c) as long as 85% or more of its gross income consists of amounts applicable to memebers for the sole purpose of meeting operating costs and expenses, and the Cooperative does not engage in a business not related to its exemption. The Cooperative follows accounting guidance for uncertainty in income taxes which is part of ASC 740, Income Taxes. The guidance prescribes a recognition threshold and measurement attributes for financial statement recognition of a tax position taken or expected to be taken on a tax return. X X X 0 0 0 Scott M Hallowell 130073 0 0 0 2368 0 41632 0 8473 0 182546 0 0 0 F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 Eastern Maine Electric Cooperative, Inc. (EMEC) has members. EMEC is owned by its members. EMEC is a non-profit consumer-owned electric utility serving parts of Aroostook, Penobscot and Washington Counties. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Eastern Maine Electric Cooperative, Inc. (EMEC) members own the cooperative. To conduct the affairs of the cooperative, they elect a Board of Directors, who are themselves members. In the election of Directors, each member has one vote. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a The Form 990 is prepared by the Finance Manager. The Chief Executive Officer reviews the Form 990. The Form 990 is presented, reviewed and discussed with the Board of Directors prior to the return being filed. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each board member signs a Conflict of Interest Statement at the monthly board meeting in which they state whether they have a conflict and that they will not participate in any vote in which there may be a potential conflict of interest. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Comparative salary information from the 800 electric cooperatives is reviewed and used in developing a wage plan for non-bargaining unit employees, as approved by the board. At least once every three years, the wage plan is thoroughly reviewed and updated as necessary, as approved by the board. Annually, the board reviews the performance of the CEO and makes a salary change as applicable. Annually, the CEO reviews the performance of the non-bargaining unit employees and makes a salary change as applicable. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Eastern Maine Electric Cooperative, Inc. (EMEC) provides its governing documents, the By Laws to each new member; plus they are available upon request. The Conflict of Interest policy is available upon request. The financial statements are mailed annually to each member and are presented at the annual meeting. F990_P09_S00_L07 Form 990, Part IX, Line 7 Total Other Salaries and Wages were $2,213,922 of which $667,067 were charged to balance sheet accounts. The remaining amount of $1,546,855 was charged to expense accounts. F990_P09_S00_L08 Form 990, Part IX, Line 8 Total Pension Plan Contributions were $505,466 of which $137,090 was charged to balance sheet accounts. The remaining amount of $368,376 was charged to expense accounts. F990_P09_S00_L09 Form 990, Part IX, Line 9 Total medical, life and long-term disability insurance contributions were $427,255 of which $112,519 was charged to balance sheet accounts. The remaining amount of $314,736 was charged to expense accounts. F990_P09_S00_L10 Form 990, Part IX, Line 10 Total payroll taxes were $159,848 of which $39,390 were charged to balance sheet accounts. The remaining amount of $120,458 was charged to expense accounts. F990_P11_S00_L05 Form 990, Part XI, Line 5 Patronage capital retirements Form 8868, Application For Extension of Time To File An Exempt Organization Return, ws filed. The Department of the Treasury, Internal Revenue Service, approved the request and extended the due date to file the Form 990 to August 15, 2011.