DENTON COUNTY ELECTRIC COOPERATIVE INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- DENTON COUNTY ELECTRIC COOPERATIVE INC (EIN 75-0233075)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-11-14
- IRS object ID
- 202323189349303897
- Schema version
- 2022v5.0
- 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 ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-11-14T09:46:29-06:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750882037 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 NASHVILLE AVENUE | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79423 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 750233075 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DENTON COUNTY ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | DENT | BusinessNameControlTxt |
| Phone | 9403217800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7701 SOUTH STEMMONS FREEWAY | AddressLine1Txt |
| City | CORINTH | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76210 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRENT BISHOP | PersonNm |
| Person Title | SENIOR VP & CFO | PersonTitleTxt |
| Phone | 9403217800 | PhoneNum |
| Signature | 2023-11-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | BRENT | PersonFirstNm |
| Person Last | BISHOP | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2023-11-09 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Doing Business As Name DoingBusinessAsName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COSERV ELECTRIC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DONALD CLARY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7701 SOUTH STEMMONS FREEWAY | AddressLine1Txt |
| City | CORINTH | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $827,182,264 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.COSERV.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 466 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $49,979 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $48,979 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $637,249,543 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $823,330,632 | CYProgramServiceRevenueAmt |
| PY Investment Income | $466,341 | PYInvestmentIncomeAmt |
| CY Investment Income | $929,990 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,366,631 | PYOtherRevenueAmt |
| CY Other Revenue | $1,884,231 | CYOtherRevenueAmt |
| PY Total Revenue | $639,082,515 | PYTotalRevenueAmt |
| CY Total Revenue | $826,144,853 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $53,139 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $50,937 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $65,502,626 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $41,035,517 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $43,722,066 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $45,736,351 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $529,237,942 | PYOtherExpensesAmt |
| CY Other Expenses | $738,088,441 | CYOtherExpensesAmt |
| PY Total Expenses | $638,515,773 | PYTotalExpensesAmt |
| CY Total Expenses | $824,911,246 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $566,742 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,233,607 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,535,737,864 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,042,962,594 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $811,786,151 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,264,582,796 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $723,951,713 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $778,379,798 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO DELIVER EXCELLENT SERVICE TO OUR MEMBERS AND CUSTOMERS BY PROVIDING SAFE AND RELIABLE ENERGY SOLUTIONS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SALES OF ELECTRICITY AND RELATED SERVICES TO MEMBERS WERE PROVIDED AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THE COOPERATIVE PROVIDED ELECTRICITY TO 294,353 ACTIVE MEMBER SERVICES AT YEAR END. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 190 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 466 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $845,248,034 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $28,326,446 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRENT BISHOP SENIOR VP & CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9403217800 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7701 SOUTH STEMMONS FREEWAY | AddressLine1Txt |
| City | CORINTH | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| BILL RAGSDALE | ||||||||
| CHAIRMAN | 9.90 | Yes (X) | Yes (X) | $44,400 | $0 | $0 | ||
| CHRISTOPHER MCCRAW | ||||||||
| VICE CHAIRMAN | 10.30 | Yes (X) | Yes (X) | $43,400 | $0 | $0 | ||
| TRISHA SHEFFIELD | ||||||||
| SECRETARY/TREASURER | 10.90 | Yes (X) | Yes (X) | $45,900 | $0 | $0 | ||
| LEON PELZEL | ||||||||
| DIRECTOR | 8.50 | Yes (X) | $40,400 | $0 | $0 | |||
| RICHARD MUIR | ||||||||
| DIRECTOR | 8.60 | Yes (X) | $39,900 | $0 | $0 | |||
| MARK RUTLEDGE | ||||||||
| DIRECTOR | 12.10 | Yes (X) | $49,400 | $0 | $0 | |||
| JARETT ADAIR | ||||||||
| DIRECTOR | 8.80 | Yes (X) | $40,900 | $0 | $0 | |||
| DONALD CLARY | ||||||||
| PRESIDENT & CEO | 50.00 | Yes (X) | $926,842 | $0 | $392,779 | 1.00 | ||
| DENISE SMITHERS | ||||||||
| SENIOR VP - CUSTOMER EXPERIENCE | 45.00 | Yes (X) | $351,839 | $0 | $157,000 | 1.50 | ||
| BRENT BISHOP | ||||||||
| SENIOR VP & CFO | 50.00 | Yes (X) | $344,895 | $0 | $152,091 | 2.00 | ||
| ROBBY HAMLIN | ||||||||
| SENIOR VP - ENGINEERING SERVICES | 45.00 | Yes (X) | $327,964 | $0 | $209,297 | |||
| GREG WARD | ||||||||
| SENIOR VP - BUSINESS DEV. & STRATEGY | 50.00 | Yes (X) | $339,037 | $0 | $161,353 | 1.00 | ||
| JEFFREY MCNEAL | ||||||||
| SENIOR VP - INFORMATION TECHNOLOGY | 45.00 | Yes (X) | $339,704 | $0 | $168,998 | 1.00 | ||
| DYAN JAMES | ||||||||
| VP - EMPLOYEE RELATIONS | 45.00 | Yes (X) | $276,745 | $0 | $59,877 | 1.00 | ||
| PHILIP HASSELL | ||||||||
| VP - FIELD OPERATIONS | 45.00 | Yes (X) | $278,087 | $0 | $132,263 | 1.00 | ||
| GARY FRANZEN | ||||||||
| VP - ENERGY RESOUCES | 50.00 | Yes (X) | $246,327 | $0 | $92,857 | |||
| WAYNE FRANCIS | ||||||||
| DIRECTOR - IT INFRASTRUCTURE & SECURITY | 45.00 | $203,414 | $0 | $53,083 | Yes (X) | |||
| JACKIE GRASS | ||||||||
| DIRECTOR - ACCOUNTING | 45.00 | $189,897 | $0 | $71,354 | Yes (X) | |||
| CHAD LUIG | ||||||||
| DIRECTOR - CORPORATE COMPLIANCE | 45.00 | $187,982 | $0 | $71,146 | Yes (X) | |||
| GREG RICE | ||||||||
| DIRECTOR - IT ENTERPRISE APPLICATION | 45.00 | $189,707 | $0 | $99,478 | Yes (X) | |||
| CHARLES TURNER | ||||||||
| DIRECTOR - FINANCE | 45.00 | $208,715 | $0 | $82,543 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,715,455 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $1,904,119 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 149 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| TEXAS STATE UTILITIES INC | |||||
| 3112 WICHITA COURT | FORT WORTH | TX | 76140 | UTILITY LINE CONTRACTOR | $12,517,588 |
| PRIMORIS T&D SERVICES LLC | |||||
| 115 WEST 7TH ST SUITE 1410 | FORT WORTH | TX | 76102 | UTILITY LINE CONTRACTOR | $10,673,153 |
| MCDERMOTT WILL & EMERY LLP | |||||
| 2501 N HARWARD ST SUITE 1900 | DALLAS | TX | 75201 | LEGAL SERVICES | $7,055,347 |
| PCI UTILITIES LLC | |||||
| PO BOX 2967 | MCKINNEY | TX | 75070 | UTILITY LINE CONTRACTOR | $6,377,475 |
| STANDARD UTILITY CONSTRUCTION | |||||
| 2630 WEST FREEWAY SUITE 200 | FORT WORTH | TX | 76102 | UTILITY LINE CONTRACTOR | $5,788,604 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 50 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $815,941,253 | $815,941,253 |
| SERVICE FEES | 221000 | $7,175,405 | $7,175,405 |
| PATRONAGE DIVIDENDS | 221000 | $213,974 | $213,974 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $823,330,632 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $688,377 | TotalRevenueColumnAmt |
| Exclusion | $688,377 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,935,539 | RealAmt |
| Personal | $45,324 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $613,738 | RealAmt |
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,321,801 | RealAmt |
| Personal | $45,324 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,367,125 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $999,977 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $49,979 | UnrelatedBusinessRevenueAmt |
| Exclusion | $317,169 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $665,286 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $423,673 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $241,613 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $241,613 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $241,613 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| POLE ATTACHMENT INCOME | 221000 | $502,005 | $502,005 | |
| MISCELLANEOUS NON-OPERATING | 221000 | $15,101 | $15,101 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $517,106 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $826,144,853 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $824,587,323 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $49,979 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,507,551 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $50,937 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,035,517 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,262,255 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,993,138 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,896,047 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,689,835 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,895,076 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,272,267 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $39,023,181 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $633,678,468 |
| ADMIN & GENERAL EXPENSE | $17,510,948 |
| TAXES - PROPERTY/OTHER | $8,603,136 |
| UBIT EXPENSE | $6,139 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,994,302 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $824,911,246 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,258,282 | BOYAmt |
| EOY | $75,295,528 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,460,016 | BOYAmt |
| EOY | $39,582,256 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $841,311 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $101,531,339 | BOYAmt |
| EOY | $552,162,430 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $1,335,812,626 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $351,194,278 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $920,164,686 | BOYAmt |
| EOY | $984,618,348 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,237,393 | BOYAmt |
| EOY | $118,787,572 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $248,323,546 | BOYAmt |
| EOY | $248,374,296 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,921,291 | BOYAmt |
| EOY | $24,142,164 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,535,737,864 | BOYAmt |
| EOY | $2,042,962,594 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,815,846 | BOYAmt |
| EOY | $73,245,291 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $438,195 | BOYAmt |
| EOY | $539,263 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $687,390,000 | BOYAmt |
| EOY | $1,123,083,260 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,142,110 | BOYAmt |
| EOY | $67,714,982 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $811,786,151 | BOYAmt |
| EOY | $1,264,582,796 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,668,879 | BOYAmt |
| EOY | $3,872,185 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $148,969,851 | BOYAmt |
| EOY | $148,969,851 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $571,312,983 | BOYAmt |
| EOY | $625,537,762 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $723,951,713 | BOYAmt |
| EOY | $778,379,798 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,535,737,864 | BOYAmt |
| EOY | $2,042,962,594 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,233,607 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $53,194,478 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $3,541,982 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $2,871,967 | OtherCostOrOtherBasisAmt |
| Book Value | $6,413,949 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $2,517,042 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $37,808,107 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,999,520 | DepreciationAmt |
| Book Value | $23,325,629 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,212,238,935 | OtherCostOrOtherBasisAmt |
| Depreciation | $334,194,758 | DepreciationAmt |
| Book Value | $878,044,177 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $45,015 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $76,789,578 | OtherCostOrOtherBasisAmt |
| Book Value | $76,834,593 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $984,618,348 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN SUBSIDIARY CORPORATION - EQUITY METHOD | Desc |
| Book Value | $118,787,572 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $118,787,572 | TotalBookValueSecuritiesAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| MEMBERSHIP - ASSOC. ORGS | $12,168 | C |
| PATRONAGE CAPITAL - BEPCI | $245,650,376 | C |
| PATRONAGE CAPITAL - CFC | $357,632 | C |
| PATRONAGE CAPITAL - COBANK | $620,491 | C |
| PATRONAGE CAPITAL - NRTC | $2,452 | C |
| PATRONAGE CAPITAL - TEC | $1,531,101 | C |
| PATRONAGE CAPITAL - NISC | $196,033 | C |
| PATRONAGE CAPITAL - CRC | $4,043 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $248,374,296 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (8 entries)
| DescDesc | AmtAmt |
|---|---|
| POST RETIREMENT MEDICAL BENEFITS | $10,611,307 |
| DEFERRED COMPENSATION | $832,793 |
| CONSUMER DEPOSITS | $4,738,952 |
| ACCRUED OPERATING TAXES & FEES | $25,521,982 |
| ACCRUED UNBILLED POWER COST | $15,036,193 |
| DEFERRED CREDITS | $6,294,555 |
| CAPITAL LEASE OBLIGATION | $4,529,744 |
| OTHER ACCRUED LIABILITIES | $149,456 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $67,714,982 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A SCHOLARSHIP FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE SCHOLARSHIP FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR SCHOLARSHIPS TO ENABLE STUDENTS WITHIN AREAS SERVED BY THE COOPERATIVE TO ATTEND COLLEGE, TECHNICAL SCHOOL OR OTHER POST SECONDARY EDUCATION INSTITUTION. ANY AMOUNTS SO DEPOSITED INTO THE SCHOLARSHIP FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ECONOMIC DEVELOPMENT FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR THE STIMULATION AND IMPROVEMENT OF BUSINESS AND COMMERCIAL ACTIVITY FOR ECONOMIC DEVELOPMENT WITHIN AREAS SERVED BY THE COOPERATIVE. ANY AMOUNTS SO DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ENERGY EFFICIENCY ASSISTANCE FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED TO ASSIST MEMBERS OF AN ELECTRIC COOPERATIVE IN REDUCING THEIR ENERGY CONSUMPTION AND ELECTRICITY BILLS. ANY AMOUNTS SO DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. |
| PART X, LINE 2: | THE COOPERATIVE AND SUBSIDIARIES FOLLOW THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE PRIMARY TAX POSITIONS FOR THE SUBSIDIARIES ARE THE TIMING DIFFERENCES IMPACTING TAXABLE INCOME. THE COOPERATIVE AND SUBSIDIARIES DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| PART IX: | THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COSERV CHARITABLE FOUNDATION | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7701 SOUTH STEMMONS FREEWAY | AddressLine1Txt |
| City | CORINTH | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 76210 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 134281766 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $45,672 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | TO SUPPORT THE FOUNDATION'S OPERATIONS. | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | ALL DONATIONS WERE MADE TO A NON-PROFIT ORGANIZATION; AS SUCH, ALL DONATIONS MADE TO THE ORGANIZATION SUPPORT THE FOUNDATION'S OPERATIONS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (14 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DONALD CLARY | ||||||||||||||
| PRESIDENT & CEO | $568,887 | $0 | $48,000 | $0 | $309,955 | $0 | $363,592 | $0 | $29,187 | $0 | $1,319,621 | $0 | $289,477 | $0 |
| ROBBY HAMLIN | ||||||||||||||
| SENIOR VP - ENGINEERING SERVICES | $291,724 | $0 | $20,679 | $0 | $15,561 | $0 | $173,184 | $0 | $36,113 | $0 | $537,261 | $0 | $0 | $0 |
| DENISE SMITHERS | ||||||||||||||
| SENIOR VP - CUSTOMER EXPERIENCE | $313,531 | $0 | $22,714 | $0 | $15,594 | $0 | $119,594 | $0 | $37,406 | $0 | $508,839 | $0 | $0 | $0 |
| JEFFREY MCNEAL | ||||||||||||||
| SENIOR VP - INFORMATION TECHNOLOGY | $305,165 | $0 | $20,739 | $0 | $13,800 | $0 | $134,342 | $0 | $34,656 | $0 | $508,702 | $0 | $0 | $0 |
| GREG WARD | ||||||||||||||
| SENIOR VP - BUSINESS DEV. & STRATEGY | $302,058 | $0 | $22,239 | $0 | $14,740 | $0 | $123,947 | $0 | $37,406 | $0 | $500,390 | $0 | $0 | $0 |
| BRENT BISHOP | ||||||||||||||
| SENIOR VP & CFO | $307,930 | $0 | $22,475 | $0 | $14,490 | $0 | $114,685 | $0 | $37,406 | $0 | $496,986 | $0 | $0 | $0 |
| PHILIP HASSELL | ||||||||||||||
| VP - FIELD OPERATIONS | $247,376 | $0 | $15,405 | $0 | $15,306 | $0 | $104,184 | $0 | $28,079 | $0 | $410,350 | $0 | $0 | $0 |
| GARY FRANZEN | ||||||||||||||
| VP - ENERGY RESOUCES | $227,315 | $0 | $13,858 | $0 | $5,154 | $0 | $57,470 | $0 | $35,387 | $0 | $339,184 | $0 | $0 | $0 |
| DYAN JAMES | ||||||||||||||
| VP - EMPLOYEE RELATIONS | $248,121 | $0 | $15,514 | $0 | $13,110 | $0 | $34,884 | $0 | $24,993 | $0 | $336,622 | $0 | $0 | $0 |
| CHARLES TURNER | ||||||||||||||
| DIRECTOR - FINANCE | $194,025 | $0 | $8,660 | $0 | $6,030 | $0 | $56,167 | $0 | $26,376 | $0 | $291,258 | $0 | $0 | $0 |
| GREG RICE | ||||||||||||||
| DIRECTOR - IT ENTERPRISE APPLICATION | $173,694 | $0 | $10,759 | $0 | $5,254 | $0 | $64,387 | $0 | $35,091 | $0 | $289,185 | $0 | $0 | $0 |
| JACKIE GRASS | ||||||||||||||
| DIRECTOR - ACCOUNTING | $179,819 | $0 | $7,891 | $0 | $2,187 | $0 | $47,197 | $0 | $24,157 | $0 | $261,251 | $0 | $0 | $0 |
| CHAD LUIG | ||||||||||||||
| DIRECTOR - CORPORATE COMPLIANCE | $178,365 | $0 | $7,982 | $0 | $1,635 | $0 | $36,028 | $0 | $35,118 | $0 | $259,128 | $0 | $0 | $0 |
| WAYNE FRANCIS | ||||||||||||||
| DIRECTOR - IT INFRASTRUCTURE & SECUR | $187,063 | $0 | $8,360 | $0 | $7,991 | $0 | $26,376 | $0 | $26,707 | $0 | $256,497 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 4B | 4B: THE FOLLOWING INDIVIDUAL PARTICIPATES IN A SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATON (NQDC) PLAN, AND THE AMOUNT LISTED REPRESENTS THE ACTUARIAL INCREASE OF UNVESTED BENEFITS ASSOCIATED WITH PARTICIPATION IN THE PLAN: DONALD CLARY $ 220,950 TOTAL BENEFITS PAID AND INCLUDED AS W-2 WAGES DURING THE YEAR WERE $289,477 |
| PART II, COLUMN C: | INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. DONALD CLARY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 133,492 ACTUARIAL INCREASE IN NQDC PLAN 220,950 401(K) EMPLOYER CONTRIBUTION 9,150 TOTAL COLUMN C $ 363,592 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT & NQDC PLANS (354,442) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT & NQDC PLANS 88,036 EXPENSE TO THE COOPERATIVE $ 97,186 ROBBY HAMLIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 164,238 401(K) EMPLOYER CONTRIBUTION 8,946 TOTAL COLUMN C $ 173,184 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (164,328) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,459 EXPENSE TO THE COOPERATIVE $ 55,405 JEFFREY MCNEAL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 125,192 401(K) EMPLOYER CONTRIBUTION 9,150 TOTAL COLUMN C $ 134,342 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (125,192) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,740 EXPENSE TO THE COOPERATIVE $ 56,890 DENISE SMITHERS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 110,444 401(K) EMPLOYER CONTRIBUTION 9,150 TOTAL COLUMN C $ 119,594 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (110,444) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,740 EXPENSE TO THE COOPERATIVE $ 56,890 GREG WARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 114,797 401(K) EMPLOYER CONTRIBUTION 9,150 TOTAL COLUMN C $ 123,947 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (114,797) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,740 EXPENSE TO THE COOPERATIVE $ 56,890 BRENT BISHOP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 105,535 401(K) EMPLOYER CONTRIBUTION 9,150 TOTAL COLUMN C $ 114,685 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (105,535) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,740 EXPENSE TO THE COOPERATIVE $ 56,890 PHILIP HASSEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 96,554 401(K) EMPLOYER CONTRIBUTION 7,630 TOTAL COLUMN C $ 104,184 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (96,554) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,498 EXPENSE TO THE COOPERATIVE $ 35,128 GARY FRANZEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,420 401(K) EMPLOYER CONTRIBUTION 7,050 TOTAL COLUMN C $ 57,470 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,420) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,437 EXPENSE TO THE COOPERATIVE $ 38,487 DYAN JAMES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,254 401(K) EMPLOYER CONTRIBUTION 7,630 TOTAL COLUMN C $ 34,884 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,254) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,912 EXPENSE TO THE COOPERATIVE $ 35,542 CHARLES TURNER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,140 401(K) EMPLOYER CONTRIBUTION 6,027 TOTAL COLUMN C $ 56,167 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,140) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,737 EXPENSE TO THE COOPERATIVE $ 36,764 GREG RICE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,945 401(K) EMPLOYER CONTRIBUTION 5,442 TOTAL COLUMN C $ 64,387 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,945) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,537 EXPENSE TO THE COOPERATIVE $ 32,979 JACKIE GRASS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,679 401(K) EMPLOYER CONTRIBUTION 5,518 TOTAL COLUMN C $ 47,197 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,679) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,038 EXPENSE TO THE COOPERATIVE $ 33,556 CHAD LUIG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,446 401(K) EMPLOYER CONTRIBUTION 5,582 TOTAL COLUMN C $ 36,028 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,446) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,361 EXPENSE TO THE COOPERATIVE $ 33,943 WAYNE FRANCIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,558 401(K) EMPLOYER CONTRIBUTION 5,818 TOTAL COLUMN C $ 26,376 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,558) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,673 EXPENSE TO THE COOPERATIVE $ 35,491 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (18 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 19: | REVENUE LESS EXPENSES AS REPORTED ON PAGE 1, PART I, LINE 19 DIFFERS FROM THE TOTAL NET MARGINS REPORTED ON THE COOPERATIVE'S AUDITED FINANCIAL STATEMENTS DUE TO BOOK TO TAX ADJUSTMENTS REQUIRED TO CONFORM TO THE FORM 990 INSTRUCTIONS. THE FIRST ADJUSTMENT IS FOR THE EQUITY METHOD INCOME RECORDED ON THE COOPERATIVE'S BOOKS AND INCLUDED IN TOTAL NET MARGINS. U.S. GAAP REQUIRES THE COOPERATIVE TO RECORD ON ITS BOOKS THE EQUITY METHOD INCOME FROM ITS WHOLLY OWNED SUBSIDIARY. EQUITY METHOD INCOME IS NOT INCOME FOR IRS FORM 990 PURPOSES AND AS SUCH HAS BEEN REPORTED AS AN OTHER CHANGE IN NET ASSETS. THE SECOND ADJUSTMENT IS FOR THE PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED BY THE COOPERATIVE TO MEMBERS. WHEREAS THE FORM 990 REQUIRES SUCH AMOUNTS TO BE REPORTED AS AN EXPENSE, PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED ARE AN INCREASE IN CAPITAL AND EQUITY, SPECIFICALLY PATRONAGE CAPITAL, ON U.S. GAAP BASIS FINANCIAL STATEMENTS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. AMENDMENTS TO THE ARTICLES OF INCORPORATION 2. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 3. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 4. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ALL DIRECTORS, OFFICERS, AND EMPLOYEES OF THE COOPERATIVE ARE REQUIRED TO ANNUALLY CERTIFY THAT THEY HAVE COMPLIED WITH THE CODE OF CONDUCT AND ARE NOT AWARE OF ANY UNREPORTED VIOLATIONS OF THE CODE THAT MAY HAVE OCCURRED. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CEO IS SUBJECT TO AN ANNUAL EVALUATION BY A COMPENSATION COMMITTEE, WHICH IS COMPRISED OF THE BOARD OF DIRECTORS. A COMPENSATION SURVEY, FORMS 990 OF OTHER COOPERATIVES, AND AN INDEPENDENT COMPENSATION CONSULTANT ARE USED WHEN DETERMINING COMPENSATION OF THE CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR CEOS FROM SIMILARLY SITUATED COOPERATIVES, UTILITIES, AND OTHER BUSINESSES LOCATED IN THE DALLAS/FT. WORTH AREA, TEXAS, AND THE NATION. THE CEO USES A WAGE AND SALARY PLAN APPROVED BY THE BOARD, WHICH IS BASED ON A COMPENSATION SURVEY FROM SIMILARLY SITUATED COOPERATIVES, UTILITIES, AND OTHER BUSINESSES LOCATED IN THE DALLAS/FT. WORTH AREA, TEXAS, AND THE NATION WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEE, IF ANY. |
| FORM 990, PART VI, SECTION C, LINE 19 | ANNUALLY, THE COOPERATIVE PROVIDES A CONDENSED SET OF AUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE BY PUBLISHING THE COOPERATIVE'S ANNUAL REPORT IN THE CO-OP POWER MAGAZINE. THE BY-LAWS AND ANNUAL REPORT, WHICH INCLUDE THE CONDENSED FINANCIAL STATEMENTS, CAN ALSO BE FOUND ON THE COOPERATIVE'S WEBSITE. |
| FORM 990, PART VII, COLUMN F: | IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION, LONGTERM DISABILITY, ACCIDENTAL DEATH & DISMEMBERMENT AND GROUP TERM LIFE INSURANCE TO ALL EMPLOYEES, INCLUDING OFFICERS, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED TO THE 401(K) PENSION PLAN AND EMPLOYER PAID INSURANCE PREMIUMS. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS PER INDIVIDUAL HAS NOT BEEN ESTIMATED. |
| FORM 990, PART VIII, LINE 2: | FOR 2022, PATRONAGE DIVIDENDS RESULT FROM THE PAYMENT OF INTEREST TO COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. |
| FORM 990, PART IX: | ALTHOUGH NO LONGER A BORROWER OF THE RURAL UTILITIES SERVICE (RUS), THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RUS BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH ITS ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. |
| FORM 990, PART IX, LINES 5-7: | SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO THE TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 30,255,393 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (304,300) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (1,526,515) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 12,520,700 TOTAL WAGES ACCRUED AND/OR PAID $ 40,945,278 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 887,368 OUTSIDE SERVICES 7,910,854 PROPERTY INSURANCE 1,134,339 LOSS/DAMAGES 432,718 MISCELLANEOUS GENERAL EXPENSE 6,830,589 RENTS EXPENSE 306,374 MAINTENANCE OF GENERAL PLANT 8,706 TOTAL ADMIN & GENERAL EXPENSE $ 17,510,948 |
| FORM 990, PART IX, LINE 4: | PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE COOPERATIVE OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE COOPERATIVE'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2022 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GAAP, HOWEVER. |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: DISTRIBUTION - OPERATION & MAINTENANCE $ 4,055,391 CUSTOMER SERVICE & INFORMATION 2,061,079 SALES 2,166,180 MISCELLANEOUS 711,652 TOTAL OTHER EXPENSES $ 8,994,302 |
| FORM 990, PART X AND SCHEDULE R, PART I | ADDITIONAL INFORMATION PERTAINING TO DISREGARDED ENTITY - COSERV SECURITIZATION 2022 LLC (SEE SCHEDULE R, PART I): THE COOPERATIVE INCURRED EXTRAORDINARY POWER COSTS DURING WINTER STORM URI IN FEBRUARY 2021. DURING 2022, THE COOPERATIVE'S POWER SUPPLIER BILLED THE COOPERATIVE FOR THESE COSTS. PURSUANT TO STATE LAW PERTAINING TO EXTRAORDINARY COSTS CAUSED BY WINTER STORM URI, THE COOPERATIVE'S BOARD OF DIRECTORS APPROVED A FINANCING ORDER ON SEPTEMBER 14, 2022; THE PURPOSE OF WHICH WAS TO (1) CREATE A REGULATORY ASSET AND SECURITIZED PROPERTY RIGHT EQUAL TO THE EXTRAORDINARY WINTER STORM URI COSTS, AND (2) AUTHORIZE THE ISSUANCE OF BONDS IN ORDER TO PAY SUCH EXTRAORDINARY COSTS THROUGH THE RIGHT TO BILL AND COLLECT DEBT SERVICE AND OTHER RELATED EXPENSES THROUGH A MONTHLY CHARGE TO THE MEMBERS OF THE COOPERATIVE, KNOWN AS A SECURITIZATION CHARGE. IN ORDER ISSUE THE BONDS, THE COOPERATIVE CREATED A SINGLE MEMBER LIMITED LIABILITY COMPANY, COSERV SECURITIZATION 2022 LLC (THE LLC). BASED ON THE FINANCING ORDER, THE LLC SOLD BONDS TO THE PURCHASE THE SECURITIZED PROPERTY RIGHT FROM THE COOPERATIVE. THE PROCEEDS WERE THEN USED BY THE COOPERATIVE TO PAY THE POWER SUPPLIER FOR THE EXTRAORDINARY WINTER STORM URI COSTS. THE SECURITIZED PROPERTY RIGHT IS RELATED TO THE FUTURE COLLECTION OF REVENUE FROM THE MEMBERS PURSUANT TO STATE LAW. FOR PURPOSES OF THE BONDS, THE LLC IS A SEPARATE LEGAL ENTITY. THE BONDS ARE PAID FOR THROUGH THE SECURITIZATION CHARGES BILLED TO AND COLLECTED FORM THE MEMBERS OF THE COOPERATIVE. THE BONDS ARE NOT A LIABILITY OF THE COOPERATIVE. THEREFORE, FOR STAND ALONE FINANCIAL STATEMENT REPORTING PURPOSES, ONLY THE INVESTMENT IN THE LLC IS REPORTED. IN GENERAL, THIS IS ALSO HOW FORM 990 IS PREPARED. HOWEVER, SINCE THE LLC IS A SINGLE MEMBER LIMITED LIABILITY COMPANY AND DISREGARDED FOR FEDERAL INCOME TAX REPORTING PURPOSES, INCLUDING FORM 990, THE FORM 990 HAS BEEN PREPARED ON A CONSOLIDATED BASIS. ACCORDINGLY, THE FOLLOWING ASSETS AND LIABILITIES ARE INCLUDED IN THE FORM 990, PART X BALANCE SHEET AS FOLLOWS: LINE 1- CASH - INCLUDES $4,600,000 LINE 9 - PREPAID AND DEFERRED CHARGES - INCLUDES THE SECURITIZED REGULATORY ASSET OF $461,135,968 LINE 12 - INVESTMENTS IN OTHER SECURITIES - $4,600,000 OF INVESTMENT IN COSERV SECURITIZATION IS ELIMINATED. LINE 17 ACCOUNTS PAYABLE AND ACCRUED EXPENSES - ACCRUED INTEREST ON SECURITIZED BONDS OF $1,135,968 LINE 23 SECURED MORTGAGES AND NOTES PAYABLE OF UNRELATED THIRD PARTIES - SECURITIZED BONDS OF $460,000,000 |
| FORM 990, PART XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED 41,035,517. EQUITY METHOD INCOME (LOSS) FROM SUBSIDIARY COMPANY 6,912,049. NET CHANGE IN MEMBERSHIPS 203,306. OTHER COMPREHENSIVE INCOME - POST EMPLOYMENT BENEFITS & AFFILIATES 5,043,606. |
| FORM 990, PART XII, LINE 2C: | PURSUANT TO BOARD POLICY, THE BOARD OF DIRECTORS IS THE AUDIT COMMITTEE AND IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURES REMAINED UNCHANGED DURING THE YEAR. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt |
|---|---|---|---|---|---|---|---|---|
| QUAIL RUN REALTY LLC | ||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | REAL ESTATE | TX | $154,032 | $1,372,577 | DENTON COUNTY ELECTRIC COOPERATIVE INC |
| COSERV PROPERTY HOLDINGS LLC | ||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | REAL ESTATE | TX | $323,993 | $5,747,323 | DENTON COUNTY ELECTRIC COOPERATIVE INC |
| COSERV SECURITIZATION 2022 LLC | ||||||||
| 2800 QUAIL RUN SUITE 200 | CORINTH | TX | 76210 | SECURITIZED BOND ISSUANCE | DE | $0 | $465,735,968 | DENTON COUNTY ELECTRIC COOPERATIVE INC |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Public Charity StatusPublicCharityStatusTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|---|
| COSERV ELECTRIC GROUP HEALTH BENEFIT PLAN TRUST | ||||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | 300403374 | MEDICAL SELF INSURANCE FUND | TX | 501(C)(9) | N/A | DENTON COUNTY ELECTRIC COOPERATIVE INC | Yes (1) |
| COSERV CHARITABLE FOUNDATION | ||||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | 134281766 | COMMUNITY CHARITABLE CONTRIBUTIONS | TX | 501(C)(3) | 7 | DENTON COUNTY ELECTRIC COOPERATIVE INC | Yes (1) |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Share Of Total IncomeShareOfTotalIncomeAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| COSERV UTILITY SERVICES INC | ||||||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | 752766000 | GP FOR COSERV INVESTMENTS | TX | DENTON COUNTY ELECTRIC COOPERATIVE INC | C | $1,184,380 | 1.00000 | Yes (1) | |
| COSERV INVESTMENTS LP | ||||||||||||
| 7701 SOUTH STEMMONS FWY | CORINTH | TX | 76210 | 752729645 | INVESTMENTS | TX | DENTON COUNTY ELECTRIC COOPERATIVE INC | C | $372,626,467 | 1.00000 | Yes (1) | $89,338,903 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (9 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| COSERV INVESTMENTS LP AND SUBSIDIARIES | ||
| A | $434,515 | INVOICES AND OTHER RECORDS |
| COSERV INVESTMENTS LP AND SUBSIDIARIES | ||
| Q | $10,741,064 | INVOICES AND OTHER RECORDS |
| COSERV INVESTMENTS LP AND SUBSIDIARIES | ||
| R | $225,151 | INVOICES AND OTHER RECORDS |
| COSERV CHARITABLE FOUNDATION | ||
| B | N/A - LESS THAN $50,000 | |
| COSERV CHARITABLE FOUNDATION | ||
| L | N/A - LESS THAN $50,000 | |
| COSERV CHARITABLE FOUNDATION | ||
| N | N/A - LESS THAN $50,000 | |
| COSERV CHARITABLE FOUNDATION | ||
| O | N/A - LESS THAN $50,000 | |
| COSERV ELECTRIC GROUP HEALTH BENEFIT PLAN | ||
| O | N/A - LESS THAN $50,000 | |
| COSERV ELECTRIC GROUP HEALTH BENEFIT PLAN | ||
| R | $6,283,584 | INVOICES AND OTHER RECORDS |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV & V: | FormAndLineReferenceDesc |
| Explanation | THE DISCLOSURES PERTAINING TO COSERV INVESTMENTS LP INCLUDE THE FOLLOWING ENTITIES WHICH WERE DISREGARDED OF ITS SOLE OWNER FOR FEDERAL TAX REPORTING PURPOSES, AS OF DECEMBER 31, 2022: COSERV NATURAL, LLC COSERV GAS, LTD RENEWABLE ENERGY ALTERNATIVES, LLC THIRTY SEVEN REALTY GP, LLC THIRTY SEVEN REALTY HOLDINGS LP | ExplanationTxt |
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