2011-11-15T10:18:58-06:00 2010-12-31 PADGETT STRATEMANN & CO LLP 811 BARTON SPRINGS ROAD SUITE 550 AUSTIN TX 78704 990 2010-01-01 743023938 GUADALUPE VALLEY ELECTRIC COOPERATIVE INC GUAD 8308571200 PO BOX 118 GONZALES TX 78629 JUSTIN LOCKE 8308571200 2011-11-15 1 JEFF ANDERSON 5124760717 2010 2016-02-24 21:20:13Z JUSTIN LOCKE PO BOX 118 GONZALES TX 78629 162890377 0 X WWW.GVEC.ORG X 1938 TX PROVIDE LOW COST ELECTRICITY IN OUR FRANCHISED AREA 11 0 305 0 2192515 0 0 0 155107138 159192998 276897 119354 3100758 3578025 158484793 162890377 44008 72126 0 0 1825120 1854644 0 0 0 143579347 150718472 145448475 152645242 13036318 10245135 324563637 346982296 154520172 169758253 170043465 177224043 BUILDING ON OUR HERITAGE & HAVING CONFIDENCE IN THE FUTURE, GUADALUPE VALLEY ELECTRIC COOPERATIVE IS A TEAM OF PROFESSIONALS COMMITTED TO EXCEEDING OUR MEMBERS' EXPECTATIONS BY IDENTIFYING & INVESTING IN PRODUCTS & SERVICES THAT FULFILL THE NEEDS OF THOSE WE SERVE. 0 0 152645242 162771023 THE COOPERATIVE WAS FORMED TO DISTRIBUTE ENERGY RELATED SERVICES TO ITS MEMBER CONSUMERS ON A COST BASIS. REVENUES IN EXCESS OF COST ARE RECORDED AS CAPITAL CREDITS. THE BYLAWS GOVERN ALLOCATION OF CAPITAL CREDITS. IN 2010, THE COOPERATIVE SERVED APPROXIMATELY 68,000 ACCOUNTS IN 13 COUNTIES. 152645242 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 1 67 0 305 1 1 1 0 0 0 0 161385513 1504864 0 X 11 0 1 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 X RICHARD PORCHE 8308571200 825 E SARA DEWITT DR GONZALES TX 78629 LEWIS BORGFELD 14.00 X X 31794 4950 0 HAROLD DEKUNDER 6.00 X 21469 3600 0 EMMETT ENGELKE 8.00 X 23563 3600 0 WA LOTT 5.00 X 20057 3600 0 SHAWN MARTINEZ 8.00 X 24269 3600 0 MARK ROBERTS 11.00 X 28769 3600 0 HENRY SCHMIDT 9.00 X 24794 4950 0 MELVIN STREY 7.00 X X 21638 4950 0 DAVID WARZECHA 5.00 X 19369 3600 0 ROBERT WERNER 6.00 X 20244 3600 0 DON WILLIAMS 8.00 X X 22169 4950 0 DARREN SCHAUER 55.00 X 315301 6000 38820 ROBERT CHRISTMAS 55.00 X 183380 0 30150 JUSTIN LOCKE 55.00 X 164490 0 28081 RICHARD PORCHE 55.00 X 108055 0 11399 BERNARD ACRE 55.00 X 165335 0 25816 MICHAEL ABSHER 55.00 X 162813 0 28498 JIMMY SPRINGS 55.00 X 134670 0 24846 LINDSEY LYDE 55.00 X 129050 0 25583 SEAN ALVAREZ 55.00 X 118620 0 24556 BOBBY O'NEAL 55.00 X 114793 0 24466 1854642 51000 262215 10 0 1 0 KBS ELECTRICAL (CC) PO BOX 4591 BRYAN TX 77805 ELECTRICAL 2498564 TEXAS ELECTRICAL COOOPERATIVE PO BOX 9589 AUSTIN TX 78766 WOOD POLES 1870662 SENDERO 1140 WESTPARK AVE VICTORIA TX 77905 BUILD ELECTRIC LINE 1351975 SOUTHEASTERN DATA COOP INC 100 ASHFORD CENTER NORTH ATLANTA GA 30338 COMPUTER SERVICES 1026124 LOWER COLORADO RIVER AUTHORITY 3505 MONTOPOLIS DR AUSTIN TX 78744 TRANSMISSION LINE MAINTENANCE 888056 12 ELECTRICITY/OTHER 221000 159192998 159192998 159192998 119354 119354 MISC NONOPERATING INCO 561000 2192515 2192515 PATRONAGE CAPITAL DIV 900099 886596 886596 MISCELLANEOUS INCOME 900099 498914 498914 3578025 162890377 160578508 2192515 119354 37171 34955 1854644 6179545 12733972 PURCHASED POWER 110137105 ADMIN AND GENERAL 8647698 DISTRIB - MAINTENANCE 4841515 DISTRIB - OPERATIONS 2845053 CONSUMER ACCOUNTS 2795026 2538558 152645242 3242435 7609509 17510509 15875581 3157606 2696747 664968 720934 420929160 113333183 288070983 307595977 9978525 10316147 1938611 2167401 324563637 346982296 22483535 31105416 102571001 99846638 29465636 38806199 154520172 169758253 X 2155200 2110145 0 0 167888265 175113898 170043465 177224043 324563637 346982296 X 10245135 -3064557 X X 0 1 1 X 0 420929160 113333183 307595977 307595977 CONSUMER DEPOSITS 1392485 DEFERRED CREDITS 13413714 COMMERCIAL PAPER 24000000 38806199 1 X EDUCATIONAL ASSISTANCE 59 34955 CASH N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: PRIOR TO AWARDING A GRANT, GVEC ESTABLISHES AND CONFIRMS THAT A NEED EXISTS. THERE IS NOT A FORMAL FOLLOW-UP PROCEDURE. X 1 1 X X X X X 0 0 0 DARREN SCHAUER 315301 6000 0 0 0 0 24502 0 14318 0 354121 6000 0 0 ROBERT CHRISTMAS 183380 0 0 0 0 0 16819 0 13331 0 213530 0 0 0 JUSTIN LOCKE 164490 0 0 0 0 0 14969 0 13112 0 192571 0 0 0 BERNARD ACRE 165335 0 0 0 0 0 15057 0 10759 0 191151 0 0 0 MICHAEL ABSHER 162813 0 0 0 0 0 15386 0 13112 0 191311 0 0 0 JIMMY SPRINGS 134670 0 0 0 0 0 12008 0 12838 0 159516 0 0 0 LINDSEY LYDE 129050 0 0 0 0 0 12690 0 12893 0 154633 0 0 0 PART I, LINE 1A BOARD POLICY #O-29 EFFECTIVE JULY 25, 2000 ESTABLISHED THAT REIMBURSEMENT FOR SPOUSAL TRAVEL WILL BE MADE AT 50%. LEWIS BORGELD PRESIDENT 143176 COMPENSATION PAID TO A FAMILY MEMBER, WHO IS THE OPERATIONS MANAGER 0 FORM 990, PART VI, SECTION A, LINE 2 LEWIS BORGFELD, BOARD PRESIDENT, IS THE FATHER-IN-LAW OF SEAN ALVAREZ, OPERATIONS MANAGER. FORM 990, PART VI, SECTION A, LINE 6 GVEC IS A MEMBER-OWNED COOPERATIVE. FORM 990, PART VI, SECTION A, LINE 7A ONE MEMBER, ONE VOTE BY GEOGRAPHIC DISTRICT. FORM 990, PART VI, SECTION A, LINE 7B AS DEFINED IN THE ARTICLES IN INCORPORATION, CERTAIN MAJOR DECISIONS OUTSIDE THE NORMAL COURSE OF BUSINESS REQUIRE A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED IN DETAIL BY THE CEO AND GENERAL MANAGER. THEN, THE TAX RETURN WAS DISCUSSED IN THE COMMITTEE MEETING AND WAS AVAILABLE AT ANY TIME. IT HAS NOT BEEN PLACED ON THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. A QUESTIONNAIRE WAS ANSWERED BY ALL BOARD MEMBERS IN 2008. SINCE THEN, ONLY NEW BOARD MEMBERS ARE CURRENTLY ASKED TO COMPLETE A QUESTIONNAIRE. GVEC IS A SMALL RURAL COMMUNITY WITH AT LEAST MONTHLY MEETINGS WITH ALL BOARD MEMBERS. GENERAL MANAGER AND BOARD CHAIRMAN ARE FAMILIAR WITH THE BOARD AND THE ORGANIZATION ACTIVITIES TO DETERMINE IF A POTENTIAL CONFLICT SHOULD DEVELOP. AN INVESTIGATION WOULD BE CONDUCTED IF A CONFLICT OF INTEREST WAS IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION INCLUDES REVIEW OF COMPARATIVE DATA/SURVEYS PUBLISHED BY THE NATIONAL RURAL ELECTRIC ASSOCIATION OF AMERICA AND VARIOUS PAID CONSULTANTS. FORM 990, PART VI, SECTION C, LINE 19 FORM 1024, FORM 990, FORM 990-T, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE ALSO AVAILABLE AT WWW.GVEC.ORG. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: PATRONAGE DIVIDENDS PAID -3,404,209. MEMBERSHIPS ISSUED -1,460. RETIRED CAPITAL CREDITS 341,112. TOTAL TO FORM 990, PART XI, LINE 5: -3,064,557. FORM 990, PART IV, LINE 12, AUDITED FINANCIAL STATEMENTS: THE FINANCIAL STATEMENTS WERE AUDITED BY AN INDEPENDENT ACCOUNTANT. THE FINANCE COMMITTEE IS RESPONSIBLE UNDER ITS GOVERNING DOCUMENTS FOR OVERSEEING THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. GVEC HOME SERVICES INC PO BOX B GONZALEZ TX 78629 742766073 RETAIL HOUSEHOLD APPLIANCES TX N/A C -7359 4651021 1.00000 GVECNET PO BOX 525 GONZALEZ TX 78629 742876734 INTERNET SERVICE PROVIDER TX N/A C 319136 1640046 0.80000 GUADALUPE VALLEY DEVELOPMENT CORPORATION PO BOX 1546 GONZALEZ TX 78629 742490616 INVESTMENT COMPANY TX N/A C 33120 16443227 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 GVEC HOME SERVICES INC A 28200 FAIR MARKET VALUE GVEC HOME SERVICES INC P 1149861 FAIR MARKET VALUE GVECNET P 953613 FAIR MARKET VALUE GUADALUPE VALLEY DEVELOPMENT CORPORATION P 60841 FAIR MARKET VALUE