NEWBERRY ELECTRIC COOPERATIVE INC: Form 990, tax year 2010

View the entire original 990 at ProPublica ↗

Organization: NEWBERRY ELECTRIC COOPERATIVE INC (EIN 57-0216285)
Tax period: 2010-01-01 to 2010-12-31
Filed: 2011-11-14
IRS object ID: 201103189349304605
Schema version: 2010v3.4
Note: A later return for the same period supersedes this one.
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
Form 990
Schedule D
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-11-14T12:50:10-06:00	Timestamp
Tax Period End Date	2010-12-31	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	K EVE MCCOY CPA LLC	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	1518 LADY ST	AddressLine1
City	COLUMBIA	City
State	SC	State
ZIP Code	29201	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2010-01-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	570216285	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	NEWBERRY ELECTRIC COOPERATIVE INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	NEWB	NameControl
Phone	8032761121	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 477	AddressLine1
City	NEWBERRY	City
State	SC	State
ZIP Code	29108	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	GEORGE KEITH AVERY	Name
Title	PRESIDENT & CEO	Title
Phone	8032761121	Phone
Date Signed	2011-11-14	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	K EVE MCCOY	Name
Phone	8032569100	Phone
Date Prepared	2011-11-14	DatePrepared
Self Employed	X	SelfEmployed

Field	Value	IRS element (for citing)
Tax Year	2010	TaxYear
Build TS	2016-03-07 17:11:31Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	GEORGE KEITH AVERY	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	882 WILSON RD	AddressLine1
City	NEWBERRY	City
State	SC	State
ZIP Code	29108	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	32012838	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.NEC.COOP	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1940	YearFormation
State Legal Domicile	SC	StateLegalDomicile
Activity Or Mission Description	TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	9	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	9	NbrIndependentVotingMembers
Total Nbr Employees	41	TotalNbrEmployees
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Current Year	0	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	28156194	ProgramServiceRevenuePriorYear
Program Service Revenue CY	31871121	ProgramServiceRevenueCY
Investment Income Prior Year	82891	InvestmentIncomePriorYear
Investment Income Current Year	46731	InvestmentIncomeCurrentYear
Other Revenue Prior Year	116056	OtherRevenuePriorYear
Other Revenue Current Year	94986	OtherRevenueCurrentYear
Total Revenue Prior Year	28355141	TotalRevenuePriorYear
Total Revenue Current Year	32012838	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	384419	SalariesEtcPriorYear
Salaries Etc Current Year	510554	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	27077804	OtherExpensePriorYear
Other Expenses Current Year	29948204	OtherExpensesCurrentYear
Total Expenses Prior Year	27462223	TotalExpensesPriorYear
Total Expenses Current Year	30458758	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	892918	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	1554080	RevenuesLessExpensesCY
Total Assets BOY	50511009	TotalAssetsBOY
Total Assets EOY	50916278	TotalAssetsEOY
Total Liabilities BOY	34989199	TotalLiabilitiesBOY
Total Liabilities EOY	34846649	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	15521810	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	16069629	NetAssetsOrFundBalancesEOY
Mission Description	TO PROVIDE THE BEST ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	28775785	Expense
Description	ELECTRIC SERVICE TO MEMBERS	Description
Total Program Service Expense	28775785	TotalProgramServiceExpense
Described In501 C3	false	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	true	ReportOtherLiabilities
Report Fin48 Footnote	true	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	38	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	41	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Gross Income From Members	31769509	GrossIncomeFromMembers
Gross Income Other Sources	243329	GrossIncomeOtherSources
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	9	NbrVotingGoverningBodyMembers
Number Independent Voting Members	9	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	true	MembersOrStockholders
Election Of Board Members	true	ElectionOfBoardMembers
Decisions Subject To Approval	true	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	false	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	ARTHUR GUY	NamePerson
Telephone Number	8032761121	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	882 WILSON RD	AddressLine1
City	NEWBERRY	City
State	SC	State
ZIP Code	29108	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (11 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	OfficerOfficer	FormerFormer
JOHNNIE L DICKERT
SECRETARY/TR	8.00	X	33040	0	3561
JOHN WAYNE NICHOLS
	8.00	X	28187	0	2942
CHARLES J BISHOP
VICE CHAIRMA	4.00	X	27463	0	3828
WILLIAM D KIBLER
CHAIRMAN	12.00	X	27054	0	5610
WILLIAM B LOMINICK
	4.00	X	24687	0	2203
TOBIE R SHEALY
	4.00	X	22771	0	3949
HAROLD L PITTS
	8.00	X	20753	0	5877
RICHARD O KOON
	4.00	X	18179	0	4805
PATTY H RUFF
	4.00	X	15034	0	0
DANIEL P MURPHY
PRESIDENT &	75.00		285135	0	67067	X
WCLYDE BROWN
			8251	0	3776		X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	510554	TotalReportableCompFromOrg
Total Other Compensation	103618	TotalOtherCompensation
Number Individuals GT100 K	1	NumberIndividualsGT100K
Formers Listed	true	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation (2 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1	CityAddressOfContractor/AddressUS/City	StateAddressOfContractor/AddressUS/State	ZIP CodeAddressOfContractor/AddressUS/ZIPCode	Description Of ServicesDescriptionOfServices	CompensationCompensation
THE DAVEY TREE EXPERT COMPANY
PO BOX 709	KENT	OH	442400709	R-O-W CLEARING	781781
LEE ELECTRICAL CONSTRUCTION INC
PO BOX 55	ABERDEEN	NC	283150055	BUILD LINES	112246

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	2	NumberOfContractorsGT100K

Program Service Revenue ProgramServiceRevenue (2 entries)

DescriptionDescription	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome	ExclusionExclusionAmount
ELECTRIC SALES	31769509	31769509
QUALIFIED POLE RENTAL	101612		$101,612

Field	Value	IRS element (for citing)
Total Program Service Revenue	31871121	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	46731	TotalRevenueColumn
Exclusion	$46,731	ExclusionAmount

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	CAPITAL CREDITS-ASSOC ORG	Description
Total Revenue Column	94986	TotalRevenueColumn
Related Or Exempt Function Income	94986	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	94986	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	32012838	TotalRevenueColumn
Related Or Exempt Function Income	31864495	RelatedOrExemptFunctionIncome
Exclusion	$148,343	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	510554	Total
Management And General	510554	ManagementAndGeneral

Interest Interest

Field	Value	IRS element (for citing)
Total	1537396	Total
Program Services	1537396	ProgramServices

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	1635629	Total
Program Services	1635629	ProgramServices

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral
PURCHASED POWER	20753006	20753006
DISTRIBUTION-MAINTENANCE	1839111	1839111
TAXES	1581371	1581371
ADMIN AND GENERAL	1172419		1172419
CONSUMER ACCOUNTS	689365	689365

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	739907	Total
Program Services	739907	ProgramServices

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	30458758	Total
Program Services	28775785	ProgramServices
Management And General	1682973	ManagementAndGeneral
Fundraising	0	Fundraising

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	3824731	BOY
EOY	3515904	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	690834	BOY
EOY	876678	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	451854	BOY
EOY	573349	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	190195	BOY
EOY	113645	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	61180535	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	16985305	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	43777804	BOY
EOY	44195230	EOY

Investments Other Securities InvestmentsOtherSecurities

Field	Value	IRS element (for citing)
BOY	1575591	BOY
EOY	1641472	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	50511009	BOY
EOY	50916278	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	1866201	BOY
EOY	2462371	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	30261858	BOY
EOY	29443172	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	2861140	BOY
EOY	2941106	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	34989199	BOY
EOY	34846649	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	15521810	BOY
EOY	16069629	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	15521810	BOY
EOY	16069629	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	50511009	BOY
EOY	50916278	EOY

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	X	InfoInScheduleOPartXI
Reconcilation Revenue Expenses	1554080	ReconcilationRevenueExpenses
Reconcilation Other Changes	-1006261	ReconcilationOtherChanges
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	false	AuditCommittee
Financial Statement Consolidated	X	FinancialStatementConsolidated
Federal Grant Audit Required	false	FederalGrantAuditRequired

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Disclosed Orgs Legal Control	false	DisclosedOrgsLegalControl
Disclosed For Charitable Purposes	false	DisclosedForCharitablePurposes
Written Policy Monitoring	false	WrittenPolicyMonitoring
Sect170h Requirements Satisfied	false	Sect170hRequirementsSatisfied
Solicited Assets For Sale	false	SolicitedAssetsForSale
Agent Trustee Etc	false	AgentTrusteeEtc
Included On FS	false	IncludedOnFS
Endowments Held By Unrelated Orgs	false	EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs	false	EndowmentsHeldByRelatedOrgs
Are Related Orgs Listed Schedule R	false	AreRelatedOrgsListedScheduleR

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	61180535	OtherCostOrOtherBasis
Depreciation	16985305	Depreciation
Book Value	44195230	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	44195230	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities (2 entries)

DescriptionDescription	AmountAmount
ACCUM. PROV. POSTRETIREMENT BENEFITS	$2,306,100
CONSUMER DEPOSITS	$635,006

Field	Value	IRS element (for citing)
Total Of Amounts	2941106	TotalOfAmounts
Total Revenue	32012838	TotalRevenue
Total Expenses	30458758	TotalExpenses
Excess Or Deficit For Year	1554080	ExcessOrDeficitForYear
Excess Or Deficit Per FS	1554080	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	32012838	TotRevenueEtcAuditedFinclStmt
Revenue Subtotal	32012838	RevenueSubtotal
Total Revenue Per Form990	32012838	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	30458758	TotExpensesEtcAuditedFinclStmt
Expenses Subtotal	30458758	ExpensesSubtotal
Total Expenses Per Form990	30458758	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

Field	Value	IRS element (for citing)
Identifier	LIABILITY UNDER FIN 48 FOOTNOTE	Identifier
Return Reference	SCHEDULE D, PAGE 3, PART X	ReturnReference
Explanation	THE COOPERATIVE FILES FORM 990 "RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX" ANNUALLY. THIS RETURN IS SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. THE COOPERATIVE IS NO LONGER SUBJECT TO EXAMINATION BY FEDERAL TAX AUTHORITIES FOR YEARS PRIOR TO 2007. ALTHOUGHT THE OUTCOME OF TAX AUDITS IS ALWAYS UNCERTAIN, THE COOPERATIVE BELIEVES THERE ARE NO SIGNIFICANT UNRECORDED TAX LIABILITIES AT DECEMBER 31, 2010 AND 2009.	Explanation

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Committee	X	CompensationCommittee
Written Employment Contract	X	WrittenEmploymentContract
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	true	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement

Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)

Base Compensation Filing OrgBaseCompensationFilingOrg	Bonus Filing OrgBonusFilingOrg	Other Compensation Filing OrgOtherCompensationFilingOrg	Deferred Comp Filing OrgDeferredCompFilingOrg	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg	Total Compensation Filing OrgTotalCompensationFilingOrg
DANIEL P MURPHY
161086	121184	2865	48084	18983	352202
WCLYDE BROWN
		8251	3776		12027

Form990 Schedule J Part III Form990ScheduleJPartIII

Field	Value	IRS element (for citing)
Identifier	SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS	Identifier
Return Reference	SCHEDULE J, PAGE 1, PART I, LINE 4	ReturnReference
Explanation	JOHNNIE L. DICKERT 0 3,561 0 JOHN WAYNE NICHOLS 0 2,942 0 CHARLES J. BISHOP 0 3,828 0 WILLIAM D. KIBLER 0 5,610 0 WILLIAM B. LOMINICK 0 2,203 0 TOBIE R. SHEALY 0 3,949 0 HAROLD L. PITTS 0 5,877 0 RICHARD O. KOON 0 4,805 0 W.CLYDE BROWN 0 3,776 0	Explanation

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (8 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
CLASSES OF MEMBERS OR STOCKHOLDERS	FORM 990, PAGE 6, PART VI, LINE 6	THE CORPORATION IS ORGANIZED AND OPERATED AS A COOPERATIVE. IT IS COMPRISED OF MEMBERS WHO OWN AND MANAGE THE CORPORATION. THE MEMBER IS DEFINED AS A "PERSON" ( AN INDIVIDUAL, CORPORATION, OR COOPERATIVE) ENTITLED TO PARTICIPATE IN THE COOPERATIVE'S MANAGEMENT. A PERSON MAY BECOME A MEMBER OF THE COOPERATIVE BY: A. APPLYING FOR MEMBERSHIP THEREIN UPON SUCH TERMS AS MAY BE ESTABLISHED BY THE BOARD OF DIRECTORS; B. AGREEING TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE; C. AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS; D. PAYING THE MEMBERSHIP FEE; E. MAINTAINING AN ACTIVE ACCOUNT IN GOOD STANDING WITH THE COOPERATIVE AS DEFINED IN THE BYLAWS.
ELECTION OF MEMBERS AND THEIR RIGHTS	FORM 990, PAGE 6, PART VI, LINE 7A	EACH MEMBER HAS ONE VOTE. DIRECTORS ARE ELECTED BY THE MEMBERS.
DECISIONS SUBJECT TO APPROVAL OF MEMBERS	FORM 990, PAGE 6, PART VI, LINE 7B	EACH MEMBER OF THE COOPERATIVE SHALL BE ENTITLED TO ONLY ONE VOTE UPON EACH MATTER SUBMITTED TO A VOTE AT ANY MEETING OF THE MEMBERS. A MEMBER HAS THE RIGHT TO ELECT THE BOARD OF DIRECTORS AND PARTICIPATE IN THE COOPERATIVE'S BUSINESS. DIRECTORS SHALL SERVE TERMS OF THREE (3) YEARS EACH AND SHALL BE ELECTED AT EACH ANNUAL MEETING OF THE MEMBERS AND SHALL SERVE UNTIL A SUCCESSOR HAS BEEN ELECTED. REMOVAL - ANY MEMBER MAY BRING ONE OR MORE CHARGES FOR CAUSE AGAINST ANY ONE OR MORE TRUSTEES AND MAY REQUEST THE REMOVAL OF SUCH TRUSTEE(S) BY REASON THEREOF BY FILING WITH THE SECRETARY SUCH CHARGE(S)IN WRITING, TOGETHER WITH A PETITION SIGNED BY NOT LESS THAN TEN PERCENT OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE. DISSOLUTION - THE COOPERATIVE MAY AUTHORIZE THE SALE, LEASE, LEASE-SALE, EXCHANGE, TRANSFER, DISSOLUTION OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTIES AND ASSETS ONLY UPON THE AFFIRMATIVE VOTES OF TWO-THIRDS OF THE THEN-TOTAL MEMBERS OF THE COOPERATIVE AT A DULY HELD MEETING OF THE MEMBERS.
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990	FORM 990, PAGE 6, PART VI, LINE 11B	A DRAFT COPY OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS AT THE REGULAR BOARD MEETING PRIOR TO THE DUE DATE OF THE RETURN BEING FILED FOR THEIR REVIEW.
ENFORCEMENT OF CONFLICTS POLICY	FORM 990, PAGE 6, PART VI, LINE 12C	THE BOARD OF DIRECTORS REVIEWS ANY CIRCUMSTANCES THAT MAY HAVE A CONFLICT OF INTEREST ON AN ANNUAL BASIS. THE PRESIDENT AND CEO WILL BRING TO THE ATTENTION OF THE BOARD OF DIRECTORS POTENTIAL AREAS OF CONFLICT OF INTEREST FOR THE BOARD TO ACT UPON.
COMPENSATION PROCESS FOR TOP OFFICIAL	FORM 990, PAGE 6, PART VI, LINE 15A	THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO. THEY UTILIZE NRECA SALARY DATA FOR COMPARISON AND MAKE RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS. THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON THE RECOMMENDATIONS OF THE EXECUTIVE COMMITTEE. THIS PROCESS WAS LAST UNDERTAKEN IN 2010.
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION	FORM 990, PAGE 6, PART VI, LINE 19	GOVERNING DOCUMENTS ARE AVAILABLE TO MEMBERS UPON REQUEST. CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. ANNUAL REPORTS ARE MAILED TO MEMBERS EACH YEAR AND ADDITIONAL COPIES ARE AVAILABLE UPON REQUEST.
OTHER CHANGES IN NET ASSETS EXPLANATION	FORM 990, PART XI, LINE 5	INCREASE IN MEMBERSHIPS 155 ADJUSTMENT FOR SFAS 158 38,100 DECREASE IN OTHER EQUITIES (148,776) PATRONAGE CAPITAL RETIRED (895,740) NET DECREASE (1,006,261)