PEDERNALES ELECTRIC COOPERATIVE INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- PEDERNALES ELECTRIC COOPERATIVE INC (EIN 74-0828412)
- Tax period
- 2020-01-01 to 2020-12-31
- Filed
- 2021-10-22
- IRS object ID
- 202102959349301600
- Schema version
- 2020v4.1
- 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 | 2021-10-22T09:57:58-05:00 | ReturnTs |
| Tax Period End | 2020-12-31 | 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 | 2020-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 740828412 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEDERNALES ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PEDE | BusinessNameControlTxt |
| Phone | 8008684732 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1 | AddressLine1Txt |
| City | JOHNSON CITY | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78636 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RANDY KRUGER | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 8308684984 | PhoneNum |
| Signature | 2021-10-20 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RANDY | PersonFirstNm |
| Person Last | KRUGER | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2021-10-20 | 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 | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JULIE PARSLEY CEO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1 | AddressLine1Txt |
| City | JOHNSON CITY | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78636 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $646,248,491 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PEC.COOP | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1938 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | TO DELIVER LOW-COST, RELIABLE AND SAFE ELECTRIC ENERGY TO THE MEMBERS OF THE COOPERATIVE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 927 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $615,616,491 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $640,791,085 | CYProgramServiceRevenueAmt |
| PY Investment Income | $709,617 | PYInvestmentIncomeAmt |
| CY Investment Income | $308,861 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,889,810 | PYOtherRevenueAmt |
| CY Other Revenue | $5,024,636 | CYOtherRevenueAmt |
| PY Total Revenue | $621,215,918 | PYTotalRevenueAmt |
| CY Total Revenue | $646,124,582 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $124,329 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $123,891 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $58,810,586 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $37,250,365 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $68,789,928 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $69,871,159 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $494,114,184 | PYOtherExpensesAmt |
| CY Other Expenses | $542,328,940 | CYOtherExpensesAmt |
| PY Total Expenses | $621,839,027 | PYTotalExpensesAmt |
| CY Total Expenses | $649,574,355 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$623,109 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$3,449,773 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,808,003,892 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,903,877,376 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,073,523,827 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,141,046,350 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $734,480,065 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $762,831,026 | NetAssetsOrFundBalancesEOYAmt |
| Mission | WE ARE COMMITTED TO DELIVERING LOW-COST, RELIABLE AND SAFE ENERGY FOR OUR MEMBERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 348,280 ACTIVE 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 | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | 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 | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 249 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 927 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 | $645,480,466 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $42,346,292 | 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 | Yes (1) | 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 | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RANDY KRUGER CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8308684984 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 201 SOUTH AVENUE F | AddressLine1Txt |
| City | JOHNSON CITY | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78636 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| AMY LEA SJ AKERS | ||||||||
| VICE PRESIDENT | 15.00 | Yes (X) | Yes (X) | $39,362 | $0 | $0 | ||
| MILTON RISTER | ||||||||
| SECRETARY/TREASURER | 12.00 | Yes (X) | Yes (X) | $39,161 | $0 | $0 | ||
| EMILY PATAKI | ||||||||
| PRESIDENT | 13.00 | Yes (X) | Yes (X) | $38,838 | $0 | $0 | ||
| PAUL GRAF | ||||||||
| DIRECTOR | 18.60 | Yes (X) | $37,972 | $0 | $0 | |||
| JAMES OAKLEY | ||||||||
| DIRECTOR | 8.00 | Yes (X) | $36,212 | $0 | $0 | |||
| MARK EKRUT | ||||||||
| DIRECTOR (JUN-DEC) | 12.00 | Yes (X) | $23,346 | $0 | $0 | |||
| TRAVIS COX | ||||||||
| DIRECTOR (JUN-DEC) | 16.00 | Yes (X) | $23,298 | $0 | $0 | |||
| RANDY KLAUS | ||||||||
| DIRECTOR (JAN-FEB) | 13.00 | Yes (X) | $7,046 | $0 | $0 | |||
| JULIE PARSLEY | ||||||||
| CHIEF EXECUTIVE OFFICER | 52.00 | Yes (X) | $669,034 | $0 | $42,152 | |||
| EDWARD A DAUTERIVE | ||||||||
| CHIEF OPERATIONS OFFICER | 45.00 | Yes (X) | $444,026 | $0 | $60,596 | |||
| LAWANDA PARNELL | ||||||||
| CHIEF INFORMATION OFFICER | 40.00 | Yes (X) | $482,190 | $0 | $17,077 | |||
| DON BALLARD | ||||||||
| GENERAL COUNSEL | 50.00 | Yes (X) | $442,346 | $0 | $42,320 | |||
| JOHN DAVIS JAN-FEB | ||||||||
| CHIEF FINANCIAL OFFICER | 50.00 | Yes (X) | $294,501 | $0 | $10,409 | |||
| RANDY KRUGER | ||||||||
| CFO (EFFECTIVE JUNE) | 50.00 | Yes (X) | $219,286 | $0 | $18,416 | |||
| WAYNE MCKEE | ||||||||
| VP - OPERATIONS | 60.00 | $348,985 | $0 | $44,211 | Yes (X) | |||
| DAVID THOMPSON | ||||||||
| VP - MARKETS | 50.00 | $312,754 | $0 | $62,777 | Yes (X) | |||
| RICHARD ARELLANO | ||||||||
| VP - SAFETY & SUPPORT SERVICES | 50.00 | $326,080 | $0 | $44,837 | Yes (X) | |||
| WESLEY BURNS | ||||||||
| VP - HUMAN RESOURCES | 50.00 | $312,361 | $0 | $55,430 | Yes (X) | |||
| BRIAN GEDRICH | ||||||||
| VP - ENGINEERING | 50.00 | $301,044 | $0 | $54,755 | Yes (X) | |||
| TIMOTHY NANCE | ||||||||
| VP - MEMBER SERVICES | 50.00 | $307,342 | $0 | $37,709 | Yes (X) | |||
| STEPHEN MALDONADO | ||||||||
| DIR.- REGIONAL OPS; INTERIM VP - OPS | 65.00 | $237,474 | $0 | $45,637 | Yes (X) | |||
| MAURICIO VIESCA | ||||||||
| EVP - PUBLIC AFFAIRS | 48.00 | $317,310 | $0 | $54,785 | Yes (X) | |||
| BRIDGET HEADRICK | ||||||||
| VP - COMPLIANCE & REGULATORY | 47.00 | $301,514 | $0 | $54,334 | Yes (X) | |||
| AISHA HAGEN | ||||||||
| ASSOCIATE GENERAL COUNSEL | 40.00 | $303,208 | $0 | $43,904 | Yes (X) | |||
| FREDDY WOLFF JAN-MAY | ||||||||
| VP - CONTROLLER | 55.00 | $285,489 | $0 | $19,735 | Yes (X) | |||
| LANCE CUNNINGHAM | ||||||||
| DIRECTOR - POWER & ENERGY RISK MGMT | 50.00 | $225,482 | $0 | $49,090 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,375,661 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $758,174 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 335 | 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 |
|---|---|---|---|---|---|
| JAMES POWER LINE CONSTRUCTION | |||||
| 43 SHOOTING CLUB RD | BOERNE | TX | 78006 | ELECTRIC DIST LINE CONSTRUCTION | $9,438,039 |
| FRONT LINE POWER CONSTRUCTION LLC | |||||
| 4202 CHANCE LANCE | ROSHARON | TX | 77583 | CONSTRUCTION | $7,361,738 |
| VOLT POWER LLC | |||||
| PO BOX 847280 | DALLAS | TX | 75284 | ELECTRIC DIST LINE CONSTRUCTION | $5,579,655 |
| PANNELL CONTRACTING | |||||
| 106 CHULA VISTA DRIVE | KERRVILLE | TX | 78028 | CONSTRUCTION | $4,816,233 |
| LINETEC SERVICES LLC | |||||
| PO BOX 13650 | ALEXANDRIA | LA | 71315 | ELECTRIC DIST LINE CONSTRUCTION | $4,641,482 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 85 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $611,208,084 | $611,208,084 |
| TRANSMISSION ACCESS | 221000 | $13,282,492 | $13,282,492 |
| CUSTOMER SERVICE FEES | 221000 | $8,555,440 | $8,555,440 |
| TRANSMISSION LEASE | 221000 | $4,783,618 | $4,783,618 |
| PATRONAGE DIVIDENDS | 221000 | $2,220,243 | $2,220,243 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $741,208 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $741,208 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $640,791,085 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $157,575 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,582 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $139,993 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $286,000 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $6,138 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $279,862 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $279,862 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $279,862 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $269,057 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $117,771 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $151,286 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $151,286 | TotalRevenueColumnAmt |
| Exclusion | $151,286 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | POLE ATTACHMENT INCOME | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $4,744,774 | TotalRevenueColumnAmt |
| Exclusion | $4,744,774 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,744,774 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $646,124,582 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $641,088,529 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,036,053 | 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 | $123,891 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,250,365 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,478,984 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,350,421 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,064,762 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,305,698 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,671,294 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,391,339 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,664,300 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $356,869,021 |
| DISTRIBUTION EXPENSE | $45,956,620 |
| CONSUMER EXPENSE | $14,144,837 |
| ADMIN & GENERAL EXPENSE | $12,338,968 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,963,855 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $649,574,355 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $768,768 | BOYAmt |
| EOY | $1,458,857 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $10,000,000 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,089,406 | BOYAmt |
| EOY | $24,984,529 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,921,711 | BOYAmt |
| EOY | $21,235,224 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,692,108 | BOYAmt |
| EOY | $3,880,647 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $2,077,671,741 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $344,116,472 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,647,409,726 | BOYAmt |
| EOY | $1,733,555,269 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,853,345 | BOYAmt |
| EOY | $16,002,062 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $101,268,828 | BOYAmt |
| EOY | $92,760,788 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,808,003,892 | BOYAmt |
| EOY | $1,903,877,376 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,469,130 | BOYAmt |
| EOY | $72,847,542 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $246,111 | BOYAmt |
| EOY | $154,779 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $793,219,162 | BOYAmt |
| EOY | $839,092,266 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $204,589,424 | BOYAmt |
| EOY | $228,951,763 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,073,523,827 | BOYAmt |
| EOY | $1,141,046,350 | 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 | $13,456,187 | BOYAmt |
| EOY | $14,287,737 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $721,023,878 | BOYAmt |
| EOY | $748,543,289 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $734,480,065 | BOYAmt |
| EOY | $762,831,026 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,808,003,892 | BOYAmt |
| EOY | $1,903,877,376 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$3,449,773 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $31,800,734 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| 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) |
|---|---|---|
| Other Cost Or Other Basis | $28,552,177 | OtherCostOrOtherBasisAmt |
| Book Value | $28,552,177 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $90,755,021 | OtherCostOrOtherBasisAmt |
| Depreciation | $19,168,050 | DepreciationAmt |
| Book Value | $71,586,971 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,844,806,997 | OtherCostOrOtherBasisAmt |
| Depreciation | $324,939,569 | DepreciationAmt |
| Book Value | $1,519,867,428 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $113,557,546 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,853 | DepreciationAmt |
| Book Value | $113,548,693 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,733,555,269 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (8 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED OPERATING TAXES & FEES | $9,994,531 |
| ACCUMULATED PROVISION FOR PENSION AND BENEFITS | $91,482,843 |
| CONSUMER DEPOSITS | $4,194,751 |
| POWER COST ADJUSTMENTS OVER-RECOVERED | $75,114,253 |
| POST RETIREMENT MEDICAL BENEFITS DEFERRED CREDIT | $41,197,777 |
| UNCLAIMED PROPERTY DEFERRED CREDIT | $5,496,440 |
| PEC POWER OF CHANGE & COMMUNITY GRANTS LIABILITY | $130,068 |
| TRANSMISSION COST OF SERVICE OVER-RECOVERY | $1,341,100 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $228,951,763 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $646,124,582 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $646,124,582 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $646,124,582 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $612,323,990 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $612,323,990 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $37,250,365 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $37,250,365 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $649,574,355 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE ESTABLISHED AN ECONOMIC DEVELOPMENT FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. AMOUNTS DELIVERED 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 IN RURAL COMMUNITIES. ANY AMOUNTS SO DELIVERED 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 ESTABLISHED AN ENERGY EFFICIENCY ASSISTANCE FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. AMOUNTS DELIVERED 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 DELIVERED INTO THE ENERGY EFFICIENCY ASSISTANCE 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 A SCHOLARSHIP FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DELIVERED INTO THE SCHOLARSHIP FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR SCHOLARSHIPS TO ENABLE STUDENTS FROM RURAL AREAS TO ATTEND COLLEGE, TECHNICAL SCHOOL, OR OTHER POST SECONDARY EDUCATION INSTITUTION AND MAY BE DELIVERED TO A SCHOLARSHIP FUND ESTABLISHED BY THE COOPERATIVE. ANY AMOUNTS SO DELIVERED INTO THE SCHOLARSHIP FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. |
| PART X, LINE 2: | THE COOPERATIVE FOLLOWS 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 COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 37,250,365. |
| PART VIII: | THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 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 FOR SCHEDULE D, PART VIII HAS BEEN LEFT BLANK. |
| PART XII, LINE 4B: | FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID (I.E. ALLOCATED) TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE CAPITAL. BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN ARTICLE VII "NONPROFIT OPERATION" OF THE COOPERATIVE'S BYLAWS. |
| 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 FOR SCHEDULE D, PART IX HAS BEEN LEFT BLANK. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PEC UNITED CHARITIES | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 1 | AddressLine1Txt |
| City | JOHNSON CITY | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78636 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 742491188 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $100,000 | CashGrantAmt |
| Purpose Of Grant | ANNUAL CONTRIBUTION TO SUPPORT THE CHARITIES' MISSION. | PurposeOfGrantTxt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART IV: | FormAndLineReferenceDesc |
| Explanation | PURSUANT TO ITS 2020 COMMUNITY SUPPORT POLICY, THE COOPERATIVE SUPPORTS EMPLOYEE GIVING CORPORATE MATCHING PROGRAM, SCHOOLS, CHARITIES, CIVIC ORGANIZATIONS, VOLUNTEER FIRE DEPARTMENTS AND THE LIKE IN THE TWENTY-FOUR COUNTY AREA IN WHICH IT PROVIDES ELECTRICITY TO ITS MEMBERS. SUPPORT THROUGH GRANTS AND DONATIONS IS PROVIDED THROUGH VARIOUS PROGRAMS, INCLUDING THE PEC COMMUNITY GRANTS PROGRAM, EDUCATIONAL SUPPORT PROGRAM, MEMBER ASSISTANCE PROGRAM AND SPECIAL REQUESTS. THE COOPERATIVE'S WEBSITE, WWW.PEC.COOP/OUR-COMMUNITY, PROVIDES A DESCRIPTION OF EACH PROGRAM AND LINK TO APPLICABLE ELIGIBILITY REQUIREMENTS AND APPLICATION PROCESS OF EACH PROGRAM. THE LARGER GRANTS ARE AWARDED VIA APPLICATION AND A GRANT COMMITTEE THAT ENSURES THE FUNDS ARE BEING UTILIZED FOR THE INTENDED PROCESSES. THROUGH THE EMPLOYEE GIVING CORPORATE MATCHING PROGRAM, THE COOPERATIVE ALSO CONTRIBUTES TO THE PEC UNITED CHARITIES, WHICH IS A NONPROFIT CHARITABLE ORGANIZATION THAT PROVIDES GRANTS AND CONTRIBUTIONS AS DETERMINED THROUGH THE ORGANIZATION'S ELIGIBILITY PROCESSES. CONTRIBUTIONS ARE MADE UP TO A MAXIMUM MATCHING AMOUNT AS APPROVED BY THE BOARD OF DIRECTORS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (18 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JULIE PARSLEY | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $454,097 | $0 | $194,615 | $0 | $20,322 | $0 | $28,500 | $0 | $13,652 | $0 | $711,186 | $0 | $0 | $0 |
| EDWARD A DAUTERIVE | ||||||||||||||
| CHIEF OPERATIONS OFFICER | $331,888 | $0 | $91,764 | $0 | $20,374 | $0 | $17,100 | $0 | $43,496 | $0 | $504,622 | $0 | $0 | $0 |
| LAWANDA PARNELL | ||||||||||||||
| CHIEF INFORMATION OFFICER | $328,986 | $0 | $131,417 | $0 | $21,787 | $0 | $5,093 | $0 | $11,984 | $0 | $499,267 | $0 | $0 | $0 |
| DON BALLARD | ||||||||||||||
| GENERAL COUNSEL | $333,547 | $0 | $88,746 | $0 | $20,053 | $0 | $28,500 | $0 | $13,820 | $0 | $484,666 | $0 | $0 | $0 |
| WAYNE MCKEE | ||||||||||||||
| VP - OPERATIONS | $257,495 | $0 | $67,473 | $0 | $24,017 | $0 | $14,628 | $0 | $29,583 | $0 | $393,196 | $0 | $0 | $0 |
| DAVID THOMPSON | ||||||||||||||
| VP - MARKETS | $237,848 | $0 | $56,030 | $0 | $18,876 | $0 | $25,019 | $0 | $37,758 | $0 | $375,531 | $0 | $0 | $0 |
| MAURICIO VIESCA | ||||||||||||||
| EVP - PUBLIC AFFAIRS | $247,193 | $0 | $50,059 | $0 | $20,058 | $0 | $25,701 | $0 | $29,084 | $0 | $372,095 | $0 | $0 | $0 |
| RICHARD ARELLANO | ||||||||||||||
| VP - SAFETY & SUPPORT SERVICES | $241,705 | $0 | $62,758 | $0 | $21,617 | $0 | $24,566 | $0 | $20,271 | $0 | $370,917 | $0 | $0 | $0 |
| WESLEY BURNS | ||||||||||||||
| VP - HUMAN RESOURCES | $243,537 | $0 | $49,948 | $0 | $18,876 | $0 | $23,073 | $0 | $32,357 | $0 | $367,791 | $0 | $0 | $0 |
| BRIDGET HEADRICK | ||||||||||||||
| VP - COMPLIANCE & REGULATORY | $244,821 | $0 | $37,316 | $0 | $19,377 | $0 | $18,580 | $0 | $35,754 | $0 | $355,848 | $0 | $0 | $0 |
| BRIAN GEDRICH | ||||||||||||||
| VP - ENGINEERING | $240,759 | $0 | $36,567 | $0 | $23,718 | $0 | $25,019 | $0 | $29,736 | $0 | $355,799 | $0 | $0 | $0 |
| AISHA HAGEN | ||||||||||||||
| ASSOCIATE GENERAL COUNSEL | $246,620 | $0 | $37,277 | $0 | $19,311 | $0 | $23,073 | $0 | $20,831 | $0 | $347,112 | $0 | $0 | $0 |
| TIMOTHY NANCE | ||||||||||||||
| VP - MEMBER SERVICES | $228,176 | $0 | $57,474 | $0 | $21,692 | $0 | $14,075 | $0 | $23,634 | $0 | $345,051 | $0 | $0 | $0 |
| FREDDY WOLFF JAN-MAY | ||||||||||||||
| VP - CONTROLLER | $101,209 | $0 | $53,299 | $0 | $130,981 | $0 | $14,507 | $0 | $5,228 | $0 | $305,224 | $0 | $0 | $0 |
| JOHN DAVIS JAN-FEB | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $46,642 | $0 | $25,154 | $0 | $222,705 | $0 | $4,825 | $0 | $5,584 | $0 | $304,910 | $0 | $0 | $0 |
| STEPHEN MALDONADO | ||||||||||||||
| DIR.- REGIONAL OPS; INTERIM VP - OPS | $190,724 | $0 | $42,069 | $0 | $4,681 | $0 | $12,150 | $0 | $33,487 | $0 | $283,111 | $0 | $0 | $0 |
| LANCE CUNNINGHAM | ||||||||||||||
| DIRECTOR - POWER & ENERGY RISK MGMT | $188,996 | $0 | $32,790 | $0 | $3,696 | $0 | $19,810 | $0 | $29,280 | $0 | $274,572 | $0 | $0 | $0 |
| RANDY KRUGER | ||||||||||||||
| CFO (EFFECTIVE JUNE) | $170,129 | $0 | $38,153 | $0 | $11,004 | $0 | $0 | $0 | $18,416 | $0 | $237,702 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 4A | FormAndLineReferenceDesc |
| Explanation | THE FOLLOWING INDIVIDUALS RECEIVED A SEVERANCE PAYMENT THAT IS INCLUDED IN OTHER REPORTABLE COMPENSATION IN PART II, COLUMN B (III): JOHN DAVIS - $ 219,545 FREDDY WOLFF - $ 122,828 | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (19 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 19: | THE NET LOSS REPORTED ON PART I, LINE 19 INCLUDES AN EXPENSE FOR PATRONAGE DIVIDENDS ALLOCATED TO THE PATRONS BASED ON NET OPERATING INCOME(LOSS). IN GENERAL, WHEN AN ELECTRIC COOPERATIVE BASES THE PATRONAGE DIVIDEND CALCULATION ON ITS NET OPERATING INCOME(LOSS), PAGE 1, PART I, LINE 19 - REVENUE LESS EXPENSES - WILL REFLECT THE AMOUNT OF NON-OPERATING INCOME(LOSS) NOT ALLOCATED. FOR THE CURRENT YEAR, PAGE 1, PART I, LINE 19, HOWEVER, REPORTS NET LOSS OF $3,449,773, WHICH INCLUDES THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE. THE GAAP BASIS FINANCIAL STATEMENTS INCLUDE AN ACCRUAL FOR UNBILLED REVENUE BECAUSE THE COOPERATIVE'S BILLING CYCLE DOES NOT END ON THE LAST DAY OF THE MONTH. THEREFORE, IT HAS REVENUE IN DECEMBER OF EACH YEAR THAT IT HAS EARNED BUT WILL NOT BILL UNTIL THE FIRST BILLING CYCLE OF THE FOLLOWING YEAR. THE COOPERATIVE ESTIMATES THIS REVENUE AND RECORDS IT AS ACCRUED UNBILLED REVENUE IN ORDER TO MATCH THE REVENUE WITH THE YEAR EARNED. HOWEVER, THE COOPERATIVE ALLOCATES THE REVENUE TO MEMBERS IN THE YEAR IT IS BILLED RATHER THAN WHEN ACCRUED. THIS TIMING DIFFERENCE IS FAIR AND EQUITABLE BECAUSE IT MATCHES THE PATRONAGE DIVIDEND ALLOCATED WITH THE BILLING RECORDS USED TO ALLOCATE THE MARGINS. DUE TO THE TIMING OF WHEN THE COOPERATIVE ALLOCATES ACCRUED UNBILLED REVENUE, PAGE 1 , PART I, LINE 19 ANNUALLY REPORTS NET INCOME EQUAL TO THE NET INCREASE IN ACCRUED UNBILLED REVENUE OR A NET LOSS EQUAL TO THE NET DECREASE IN UNBILLED REVENUE PLUS NON-OPERATING MARGINS RETAINED. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: ADD: ACCRUED UNBILLED REVENUE 12/31/20 $22,235,356 LESS: ACCRUED UNBILLED REVENUE 12/31/19 (26,250,305) ADD: NON-OPERATING MARGINS 565,176 (A) - NET LOSS ON PAGE 1,PART I, LINE 19 $(3,449,773) (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $37,250,365 TOTAL 2020 NET MARGIN PER FINANCIAL STATEMENTS (A + B) $33,800,592 |
| FORM 990, PART VI, SECTION A, LINE 4 | DURING THE YEAR, THE BYLAWS OF THE COOPERATIVE WERE AMENDED. THE FOLLOWING IS A SUMMARY OF CHANGES: ARTICLE III - DIRECTORS SECTION 2, QUALIFICATIONS AND TERMS OF DIRECTORS, WAS AMENDED TO PROVIDE WHEN A COMPETING INTEREST WITH THE COOPERATIVE EXISTS, HOW FINANCIAL INTEREST AND/OR CONFLICTING POSITION ARE LIKELY TO IMPAIR A DIRECTOR'S ABILITY TO SERVE THE BEST INTERESTS OF THE COOPERATIVE. A COMPLETE COPY OF THE BYLAWS CAN BE FOUND ON THE COOPERATIVE'S WEBSITE AT: HTTPS://WWW.PEC.COOP/ABOUT-US/YOUR-COOPERATIVE/DOCUMENT-CENTER/ |
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE OR ENERGY 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 THROUGH USE OF SINGLE MEMBER VOTING DISTRICTS VOTING METHODOLOGY. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENTS TO ARTICLES OF INCORPORATION ADDITIONALLY, PEC BYLAWS PROVIDED TO THE MEMBERSHIP THE POWER TO REMOVE DIRECTORS FROM THE BOARD BY MAJORITY VOTE EITHER BY FULL MEMBERSHIP OR BY DISTRICT. IF THE VOTE IS FOR THE FULL MEMBERSHIP, THE PETITION MUST BE SIGNED BY 5% OF THE MEMBERSHIP. IF THE VOTE IS LIMITED TO THE DIRECTOR'S DISTRICT, THEN THE PETITION MUST BE SIGNED BY 15% OF THE MEMBERS OF THE RESPECTIVE DISTRICT. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR REVIEW AND APPROVAL. THIS ACTION WAS TAKEN AT THE BOARD MEETING BEFORE FILING THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY REQUIRES ANNUAL AND ONGOING COMPLETION OF A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM BY ALL DIRECTORS, OFFICIALS OR DISCLOSING EMPLOYEES OF THE COOPERATIVE, INCLUDING OFFICERS AND EXECUTIVES. THE FORM, WHICH IS PART OF THE POLICY, INCLUDES AN AFFIRMATION THAT THE INDIVIDUAL WILL INFORM THE BOARD OF ANY NEW CONFLICT AFFECTING THEMSELVES OR ANY OTHER PERSON. EACH YEAR, THESE DOCUMENTS ARE SOLICITED AND GATHERED BY THE CUSTODIAN OF THESE RECORDS, WHICH INCLUDES THE BOARD'S SECRETARY FOR BOARD MEMBERS AND THE COOPERATIVE'S ETHICS AND COMPLIANCE OFFICER AND HUMAN RESOURCES DEPARTMENT FOR APPLICABLE EMPLOYEES. APPLICABLE PERSONS WHO JOIN THE COOPERATIVE ARE SUBJECT TO ADHERE TO THE POLICY AND ARE REQUIRED TO FILE THE FORM AT THE OUTSET OF THEIR EMPLOYMENT OR DIRECTORSHIP. THE COMPLETED BOARD OF DIRECTORS DISCLOSURE AFFIRMATIONS ARE FORMALLY ACCEPTED BY THE BOARD PRESIDENT IN A MEETING OPEN TO THE PUBLIC AND ARE PART OF THE PUBLIC MINUTES OF THE COOPERATIVE. THE POLICY ALSO REQUIRES ANNUAL TRAINING REGARDING CONFLICTS OF INTERESTS FOR THE ENTIRE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER IS ANNUALLY REVIEWED AND ADJUSTED BASED ON THE CEO PERFORMANCE EVALUATION POLICY. PURSUANT TO THE POLICY, THE VICE PRESIDENT OF THE BOARD IS DELEGATED THE RESPONSIBILITY FOR FACILITATING THE ANNUAL PERFORMANCE EVALUATION PROCESS. SUCH ANNUAL PROCESS INCLUDES AN EVALUATION BY EACH DIRECTOR OF THE CEO'S ACHIEVEMENT OF CORPORATE METRICS AS DEFINED IN THE COOPERATIVE'S CURRENT STRATEGIC PLAN, THE ACHIEVEMENT OF CURRENT YEAR STRATEGIC INITIATIVES AND THE FULFILLMENT OF HIS/HER PRIMARY MANAGEMENT RESPONSIBILITIES. THE CEO ALSO PERFORMS A SELF-ASSESSMENT WITH RESPECT TO THE SAME CRITERIA. THE VICE PRESIDENT COMPILES AND DISCUSSES THE RESULTS WITH THE BOARD IN EXECUTIVE SESSION. THE CONSENSUS ARRIVED AT FOLLOWING THESE DISCUSSIONS AND THE SETTING OF GOALS FOR THE CEO FOR THE UPCOMING YEAR ARE USED FOR ADJUSTING COMPENSATION. COMPENSATION FOR THE EXECUTIVES AND SENIOR LEADERSHIP IS ESTABLISHED BY WRITTEN GUIDELINES FOR EXECUTIVES AND SENIOR LEADERSHIP ESTABLISHED BY THE CEO OR AS CONSISTENT WITH OBJECTIVE THIRD PARTY ASSESSMENTS AND BENCHMARKING. THE COMPENSATION FOR ALL OTHER EMPLOYEES OF THE COOPERATIVE, INCLUDING THOSE MEETING THE DEFINITION OF EMPLOYEE OFFICERS AND KEY EMPLOYEES, IS GOVERNED BY THE EMPLOYEE COMPENSATION POLICY AND IS SET BASED ON A COMPREHENSIVE COMPENSATION ASSESSMENT THAT IS RUN ANNUALLY TO DETERMINE MARKET VALUE FOR THE RESPECTIVE POSITIONS. THE CEO IS RESPONSIBLE FOR IMPLEMENTING THE POLICY AND MAY USE OUTSIDE CONSULTANTS AND EXPERTS TO PROVIDE OBJECTIVE ASSESSMENTS AND BENCHMARKING COMPARISONS TO INDUSTRY-WIDE COMPENSATION TRENDS AND SURVEYS IN ORDER TO SET THE MARKET VALUE OF EACH RESPECTIVE POSITION. SUCH BENCHMARKING COMPARISONS INCLUDE OTHER COOPERATIVES, PUBLIC UTILITIES AND PRIVATELY-OWNED OR INVESTOR-OWNED UTILITIES AS COMPARED TO THE SIZE AND COMPLEXIBILITY OF THE COOPERATIVE. COMPENSATION IS THEN TARGETED FOR 75% OF A POSITION'S MARKET VALUE. OTHER FACTORS FOR SETTING COMPENSATION INCLUDE THE NATURE AND QUALIFICATIONS FOR THE JOB, TRAINING, EXPERIENCE, INDIVIDUAL PERFORMANCE WITH RESPECT TO PERFORMANCE METRICS, FINANCIAL RESOURCES OF THE COOPERATIVE AND OTHER RELEVANT FACTORS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, ALL OTHER BOARD OPERATING POLICIES AND FINANCIAL STATEMENTS FOR THE MOST RECENTLY COMPLETED CALENDAR YEAR ARE AVAILABLE TO THE PUBLIC ON THE COOPERATIVE'S WEBSITE AT HTTPS://WWW.PEC.COOP/ABOUT-US/YOUR-COOPERATIVE/DOCUMENT-CENTER/. MEMBERS OF THE COOPERATIVE MAY BE ABLE TO REQUEST EXISTING RECORDS NOT POSTED ON THE WEBSITE THROUGH THE OPEN RECORDS REQUEST PROCESS OUTLINED ON THE COOPERATIVE'S WEBSITE. |
| FORM 990, PART VII, COLUMN F: | IN ORDER TO PROVIDE RETIREMENT BENEFITS, THE COOPERATIVE PROVIDES A DEFINED BENEFIT PLAN TO EMPLOYEES MEETING THE ELIGIBILITY REQUIREMENTS. HOWEVER, THE PLAN WAS CLOSED TO NEW PARTICIPANTS AFTER JANUARY 1, 2006. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF THE PLAN. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION, AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNT REPORTED ON PART VII COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE ACTUARIAL INCREASE ASSOCIATED WITH PARTICIPATION IN THE DEFINED BENEFIT PLAN, IF APPLICABLE,THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE 401(K) PLAN AND INSURANCE PAID ON BEHALF OF AND FOR BENEFIT OF THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES. IN ADDITION TO THE ABOVE PLANS, THE COOPERATIVE ALSO PROVIDES ELIGIBLE PARTICIPANTS POST- RETIREMENT MEDICAL BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. |
| FORM 990, PART VIII, LINE 2: | PATRONAGE DIVIDENDS RESULT FROM THE PAYMENT OF INTEREST FROM 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: | THE COOPERATIVE UTILIZES THE UNIFORM SYSTEM OF ACCOUNTS (USOA) ESTABLISHED BY THE RURAL UTILITIES SERVICE (RUS). IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 980, REGULATED OPERATIONS, THE COOPERATIVE RECORDS CERTAIN ASSETS AND LIABILITIES IN ACCORDANCE WITH THE ECONOMIC EFFECTS OF THE RATE MAKING PROCESS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. FOR FORM 990 REPORTING PURPOSES, THE COOPERATIVE SEPARATELY REPORTS DONATIONS, SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH ITS ACCOUNTING SYSTEM. OTHER EXPENSES DESCRIBED IN LINES 1-23, HOWEVER, ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. |
| FORM 990, PART IX, LINE 24D: | ADMINISTRATIVE AND GENERAL EXPENSES ARE COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS & OTHER $13,827,478 OFFICE SUPPLIES 6,650,486 PROFESSIONAL SERVICES 3,196,437 INJURIES & DAMAGES 422,237 PENSION & BENEFITS 67,395 MISCELLANEOUS GENERAL 2,335,652 RENTS 651,953 MAINTENANCE OF GENERAL PLANT 4,368 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $27,156,006 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (245,235) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (10,892,938) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (3,678,865) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $12,338,968 |
| 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 SCHDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $52,829,405 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-MISC (245,235) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (190,970) LESS: KEY EMPLOYEE BENEFITS INCLUDED IN LINE 5 (345,356) PLUS: SALARIES & WAGES ALLOCATED TO PURCHASED POWER EXPENSE 726,706 PLUS: SALARIES & WAGES ALLOCATED TO NONOPERATING MARGINS 7,831 PLUS: SALARIES & WAGES CAPITALIZED DIRECTLY TO PLANT 34,055,622 PLUS: SALARIES & WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 2,325,389 TOTAL WAGES ACCRUED AND/OR PAID $89,163,392 |
| 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 NONPROFIT OPERATION ARTICLE OF THE COOPERATIVE'S BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE COOPERATIVE FOR THE 2020 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 GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. |
| FORM 990, PART IX, LINE 24A: | THE COOPERATIVE'S WHOLESALE POWER SUPPLIERS ARE THE LOWER COLORADO RIVER AUTHORITY, AEP ENERGY PARTNERS, INC., WSC ENERGY, EXELON CORPORATION (CONSTELLATION), CONSTELLATION SOLAR TEXAS AND GREENSTREET. THE $356,869,021 OF PURCHASED POWER EXPENSE, REPORTED ON LINE 24A, IS COMPRISED OF PAYMENTS MADE TO WHOLESALE POWER SUPPLIERS AND AN ALLOCATION OF POWER SUPPLY EXPENSES. |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: TRANSMISSION $ 3,703,411 SALES 226,430 TAXES 1,034,014 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 4,963,855 |
| FORM 990, PART XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 37,250,365. PATRONAGE CAPITAL RETIRED - TOTAL -59,853,786. PATRONAGE CAPITAL RETIRED - DISCOUNT 53,572,605. NET CHANGE IN MEMBERSHIPS 831,550. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE AND RECOMMEND THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. |
Schedule R IRS990ScheduleR
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| THE PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND | ||||||||||
| 201 S AVENUE F | JOHNSON CITY | TX | 78636 | 742897600 | TO PROVIDE SCHOLARSHIPS FOR POST-SECONDARY EDUCATION | TX | 501(C)(3) | PF | PEDERNALES ELECTRIC COOPERATIVE INC | Yes (1) |
| PEC UNITED CHARITIES INC | ||||||||||
| PO BOX 1 | JOHNSON CITY | TX | 78636 | 742491188 | TO SUPPORT CHARITABLE CAUSES OF OTHER 501(C)(3) ORGANIZATONS | TX | 501(C)(3) | LINE 10 | PEDERNALES ELECTRIC COOPERATIVE INC | Yes (1) |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | 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 | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | 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 | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt | InvolvedInvolvedAmt |
|---|---|---|
| THE PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND | ||
| O | N/A LESS THAN $50,000 | |
| THE PEDERNALES ELECTRIC COOPERATIVE SCHOLARSHIP FUND | ||
| Q | N/A LESS THAN $50,000 | |
| PEC UNITED CHARITIES | ||
| B | BOARD POLICY & AUTHORIZATON | $100,000 |
| PEC UNITED CHARITIES | ||
| O | N/A LESS THAN $50,000 | |
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