2023-11-12T09:27:50-05:00 2022-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2022-01-01 540130127 BARC ELECTRIC COOPERATIVE BARC 8008462272 PO BOX 264 MILLBORO VA 244600264 COURTNEY PERDUE CFO 8008462272 2023-11-09 true COURTNEY PERDUE XXX-XX-XXXX false G STEVEN GILLIAM CPA P00348264 8043231313 2023-11-09 2022 2023-04-26 12:10:37Z COURTNEY PERDUE PO BOX 264 MILLBORO VA 244600264 38335534 false X WWW.BARCELECTRIC.COM X 1938 VA TO PROVIDE SAFE AND RELIABLE POWER TO THE MEMBERS OF BARC ELECTRIC COOPERATIVE LOCATED IN THE COUNTIES OF ALLEGHANY, AUGUSTA, BATH, HIGHLAND, AND ROCKBRIDGE IN THE COMMONWEALTH OF VIRGINIA. 7 7 67 9783646 3329123 322005 24532629 27473341 507249 999512 7277971 9517748 35646972 38312606 0 2506209 1285957 6540047 6297665 0 0 21907913 29655446 30954169 37239068 4692803 1073538 141938050 171302086 107157383 134588653 34780667 36713433 TO PROVIDE SAFE AND RELIABLE POWER TO THE MEMBERS OF BARC ELECTRIC COOPERATIVE LOCATED IN THE COUNTIES OF ALLEGHANY, AUGUSTA, BATH, HIGHLAND, AND ROCKBRIDGE IN THE COMMONWEALTH OF VIRGINIA. false false THE THREE LARGEST PROGRAM SERVICES RELATED TO THE COOPERATIVE'S MISSION, AS MEASURED BY EXPENSES, WERE AS FOLLOWS: COST OF POWER 14,421,015 FIBER LEASE EXPENSES 6,921,999 BARCONNECT EXPENSES 6,380,662 false false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false true false false false false true false false false true 37 0 true 67 true true true false false false false 27480565 4393009 false false false X 7 7 false false false false true true true true true false false false true true true true true true true false X THE ORGANIZATION 8008462272 PO BOX 264 MILLBORO VA 24460 WILLIAM BUCHANAN CEO 29.60 10.57 X 216923 0 79654 CHRIS BOTULINSKI COO 33.81 6.19 X 180316 0 49564 COURTNEY PERDUE CFO 33.80 6.13 X 142777 0 27919 SHAY MCMULLEN LINE CREW FO 50.00 0.68 X 127517 0 25634 KEVIN BRYANT LINE CREW FO 48.31 1.02 X 122288 0 27410 TERRY MILLER AREA SERVICE 48.31 X 116167 0 26734 STEPHEN CLARK LINE CREW FO 47.30 0.92 X 119637 0 22293 DAKOYTA MINTER JOURNEYMAN L 47.65 2.98 X 112598 0 17756 JASON P BLACK DIRECTOR 4.00 X 15900 0 0 EDSEL B FORD DIRECTOR 5.00 X 15900 0 0 JAY LEWIS II DIRECTOR 4.00 X 15900 0 0 GARY R JOHNSON ASSISTANT SE 5.00 X X 15900 0 0 JOHN M QUANTZ SECRETARY/TR 4.00 X X 15900 0 0 C MICHAEL SANDRIDGE VICE PRESIDE 4.00 X X 15900 0 0 KEITH L SWISHER PRESIDENT 8.00 X X 15900 0 0 1249523 276964 8 false true false THAYER POWER AND COMMUNICATION 12345 WORTHINGTON ROAD NW PATASKALA OH 43062 FIBER CONST. 12352250 ASPLUNDH TREE EXPERT LLC PO BOX 532729 ATLANTA GA 30353 ROW CLEARING 2867042 LEE ELECTRICAL CONSTRUCTION 12828 HIGHWAY 15 501 SOUTH ABERDEEN NC 28315 CONSTRUCTION 2628476 LANTZ CONSTRUCTION COMPANY 539 SOUTH MAIN STREET BROADWAY VA 22815 REMODEL 1915198 VANTAGE POINT 2211 NORTH MINNESOTA ST MITCHELL SD 57301 FIBER ENGINEER 1702138 13 322005 322005 SALE AND DIST. OF ELECT. 221000 27158560 27158560 PATRONAGE ALLOC. RECEIVED 221000 290934 290934 CONTRIB. IN AID OF CONST. 221000 23847 23847 27473341 843974 817283 26691 561163 561163 561163 561163 178466 22928 155538 155538 22156 133382 BARCONNECTS 221000 5949793 5949793 FIBER LEASE ACTIVITIES 221000 2945248 2945248 INC RELIABLE ENERGY, LLC 221000 49166 49166 12378 12378 8956585 38312606 27485719 9783646 721236 X 1285957 808453 4612363 331659 133000 412190 96193 495333 36652 3127998 4325990 COST OF POWER 14421015 OPERATING EXP BARCONNECTS 6380662 DISTRIBUTION MAINTENANCE 1841303 ADMIN AND GENERAL 1310161 -2379861 37239068 0 0 0 1923651 1876342 4855163 5180495 1946880 2026379 3067677 4964536 1134424 1452176 181958970 37230713 118226702 144728257 135000 135000 10185329 10372677 463224 566224 141938050 171302086 6532951 5664885 97277024 123526673 3347408 5397095 107157383 134588653 X 34780667 36713433 34780667 36713433 141938050 171302086 X 1073538 859228 X false true X true false 181958970 37230713 144728257 144728257 PATRONAGE CAPITAL 9781267 C CAPITAL TERM CERTIFICATES 527070 C MEMBER CAPITAL CERTIFICATES 50000 C BUILDING 13340 C MEMBERSHIP FEES 1000 C 10372677 OTHER 2838304 FINANCE LEASES 1344356 CONSUMER DEPOSITS 1035604 DEFERRED CREDITS 178831 5397095 X X false false false WILLIAM BUCHANAN CEO 198773 18150 67936 11718 296577 CHRIS BOTULINSKI COO 114616 65700 36995 12569 229880 COURTNEY PERDUE CFO 127552 15225 19410 8509 170696 SHAY MCMULLEN LINE CREW FOREMAN 125329 2188 18241 7393 153151 JASON P BLACK - DIRECTOR CFO 297067 SALE OF FUEL/DIESEL false FORM 990 SCHEDULE J, PART II, COLUMN C THE OFFICERS OF THE COOPERATIVE PARTICIPATE IN A MULTI-EMPLOYER DEFINED BENEFIT PENSION PLAN. INCLUDED IN COLUMN C IS THE ACTUARIAL INCREASE ASSOCIATED WITH THE PLAN. IT SHOULD BE NOTED THAT THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN IS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN BARC ELECTRIC COOPERATIVE'S BYLAWS. THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4. FORM 990, PART IX, LINE 17 TRAVEL PER IRS INSTRUCTIONS THE TOTAL TRAVEL COSTS REPORTED ON THIS LINE REPRESENT ALL TRANSPORTATION COSTS OF THE COOPERATIVE, INCLUDING THE EXPENSE OF PURCHASING, LEASING, OPERATING, AND REPAIRING ALL VEHICLES OWNED BY THE COOPERATIVE. THIS INCLUDES ALL THE LINE AND SERVICE TRUCKS USED IN THE DAILY OPERATIONS OF THE COOPERATIVE. THESE TRUCKS LOG IN THOUSANDS OF MILES EACH YEAR CONSTRUCTING AND MAINTAINING THE ELECTRIC PLANT OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 6 BARC IS AN ELECTRIC COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS OF THE COOPERATIVE ELECT THE BOARD OF DIRECTORS WHICH SERVES AS THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 7A ALL MEMBERS OF BARC RECEIVE ONE VOTE WITH RESPECT TO SELECTING THE COOPERATIVE'S BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B MANAGEMENT REVIEWS THE TAX FORM 990 WITH THE BOARD AFTER THE RETURN HAS BEEN FILED. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY, DIRECTORS REVIEW POTENTIAL CONFLICTS OF INTEREST. DIRECTORS ALWAYS REMOVE THEMSELVES FROM VOTING ON ISSUES THAT COULD PRESENT A CONFLICT OF INTEREST. FORM 990, PAGE 6, PART VI, LINE 15A THE GOVERNING BODY SETS THE COMPENSATION OF THE CEO. TO ASSIST WITH THIS PROCESS A SALARY SURVEY WAS PERFORMED BY A NATIONAL CONSULTING GROUP ALONG WITH CONTEMPORANEOUS SALARY DATA BEING PROVIDED. OTHER OFFICERS' SALARIES ARE BASED ON THREE CONTEMPORANEOUS REFERENCE POINTS: USBLS, NRECA, AND THE VIRGINIA E.C. FOR NON-METRO WESTERN VIRGINIA. FORM 990, PAGE 6, PART VI, LINE 15B THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FINANCIAL DATA IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST FROM THE COOPERATIVE. FINANCIAL INFORMATION IS PROVIDED TO THE MEMBERSHIP AT THE ANNUAL MEETING. FORM 990, PART XI, LINE 9 PATRONAGE DIV PAID TO MEMBERS NOT EXP PER GAAP 1,285,957 BOOK TAX DIFF BARCONNECT 12,038 DERERRED TAX ASSET BARCONNECTS 103,000 CIAC NOT REV PER GAAP -345,852 RETIREMENT OF CAPITAL CREDITS -141,739 INSTALLMENT SALE OF SOLAR PLANT -22,156 NET CHANGE IN MEMBERSHIPS -233 NON-CASH PATRONAGE ALLOCATIONS NOT REV PER IRS -31,787 TOTAL 859,228 RELIABLE ENERGY LLC PO BOX 264 MILLBORO VA 24460 462270348 GEN LEASES VA 35554 2610202 BARC ELEC BARCONNECTS LLC PO BOX 264 MILLBORO VA 24460 474493961 BLDG FIBER VA -315217 11096183 BARC ELEC