2019-11-13T13:11:28-06:00 2018-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2018-01-01 540322350 NORTHERN NECK ELECTRIC COOPERATIVE NORT 8043333621 PO BOX 288 WARSAW VA 22572 GREGORY W WHITE PRESIDENT & CEO 8043333621 2019-10-24 true G STEVEN GILLIAM CPA P00348264 8043231313 2019-10-31 72.84.234.34 2019-11-13 13:11:28 CS P A38C500A137E87FB684E3EE204C6EE02D152B08E 89ADFE0B0847EC95470EA9D4595307149EE4A12A 2018 2020-04-17 16:48:07Z GREGORY W WHITE 85 ST JOHNS STREET WARSAW VA 22572 41011686 false X WWW.NNEC.COOP X 1937 VA SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE 7 6 61 57535 44603 0 34795402 40151359 254735 507378 312476 351222 35362613 41009959 0 501939 1924818 6776203 6878884 0 0 27249504 31481267 34527646 40284969 834967 724990 94972208 96404751 52534323 52973935 42437885 43430816 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE false false SAFE AND EFFECTIVE DELIVERY OF ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER: 23,136,403 SALARIES & WAGES: 4,692,853 DEPRECIATION: 4,206,104 false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false true false false false false false false false false true 33 0 true 61 true true true false false false false 39552171 1165828 false false false X 7 6 false false false false true true true true false false false false true true true true true true true false X THE COOPERATIVE 8043333621 85 ST JOHNS STREET WARSAW VA 22572 X RUSSELL G BROWN VICE CHAIRMA 8.50 X X 30039 0 0 RALPH E SUTTON SECRETARY-TR 4.00 X X 27540 0 0 A WAYNE SAUNDERS DIRECTOR 4.00 X 26040 0 0 JAMES A WISE DIRECTOR 6.00 X 24557 0 0 HUNTER R GREENLAW JR CHAIRMAN 20.00 X X 23540 0 0 J STEVE THOMAS SR DIRECTOR 2.00 X 20540 0 0 HOLLY WARGO DIRECTOR 7.00 X 18750 0 0 GREGORY W WHITE PRESIDENT & 50.00 X 333765 0 93999 MARTIN R MOTHERSHEAD VP FINANCE 40.00 X 162113 0 104013 WILLIAM PATRICK HENRY VP ENGINEERI 40.00 X 162295 0 88642 JAMES A MOSS VP OPERATION 50.00 X 156947 0 85322 RICHARD E MCLENDON VP IT & CUST 45.00 X 153605 0 56148 JOEL GAY SERVICEMAN 50.00 X 116226 0 60391 MICHAEL A HYDE MANAGER IT 45.00 X 108762 0 45742 1364719 534257 14 false true false ASPLUNDH 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 ROW MAINTENANCE 1152151 NAPIER UTILITIES CONST LLC PO BOX 874 WARSAW VA 22572 CABLE 357004 2 SALE & DIST. OF ELECTRIC 221000 39552171 39552171 CONT IN AID OF CONST 221000 541891 541891 CASH PATRONAGE RECEIVED 221000 57297 57297 40151359 501026 501026 348660 1727 346933 346933 53246 293687 6352 6352 6352 6352 MERCHANDISING 221000 4289 4289 4289 41009959 40151359 57535 801065 X 1924818 864896 4692853 806388 99649 415098 63966 1107845 200539 1671374 4204377 COST OF POWER 23136403 DISTRIBUTION MAINTENANCE 2216789 DISTRIBUTION OPERATION 1035980 GENERAL AND ADMINISTRATIO 672808 -2828814 40284969 0 0 0 287265 1311685 6293485 6052695 690867 964969 2074752 1682697 116980075 47178117 69526717 69801958 200000 200000 15891042 16382341 8080 8406 94972208 96404751 2941289 2736144 44666781 45007254 4926253 5230537 52534323 52973935 X 42437885 43430816 42437885 43430816 94972208 96404751 X 724990 267941 X false true X false true true 116980075 47178117 69801958 69801958 PATRONAGE CAPITAL 15500177 C CAPITAL TERM CERTIFICATES 736245 C OTHER 145919 C 16382341 OTHER POSTRETIREMENT BENEFITS 1573772 DEFERRED CREDITS 1315565 CONSUMER DEPOSITS 1283046 ACCRUED LIABILITIES 1058154 5230537 X 40847097 40847097 162862 162862 41009959 38361878 38361878 1923091 1923091 40284969 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE FOLLOWS THE GUIDANCE FOR "UNCERTAIN TAX POSITIONS" IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE COOPERATIVE HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS IN AID OF CONSTRUCTION 541,891 PATRONAGE ALLOCATIONS -377,302 RENTAL EXPENSE NETTED AGAINST REVENUE -1,727 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE DIVIDENDS 1,924,818 RENTAL EXPENSE NETTED AGAINST REVENUE -3,454 BOOK / TAX DEPRECIATION DIFFERENCE 1,727 X X false false false GREGORY W WHITE PRESIDENT & CEO 316730 17035 86799 7200 427764 MARTIN R MOTHERSHEAD VP FINANCE 158952 3161 96813 7200 266126 WILLIAM PATRICK HENRY VP ENGINEERING 158996 3299 81442 7200 250937 JAMES A MOSS VP OPERATIONS 152200 4747 78122 7200 242269 RICHARD E MCLENDON VP IT & CUST SRV 151402 2203 48948 7200 209753 JOEL GAY SERVICEMAN 115162 1064 53191 7200 176617 MICHAEL A HYDE MANAGER IT 105523 3239 38542 7200 154504 RUSSELL G BROWN - DIRECTOR KEY EMPLOYEE 22079136 BANKING ACTIVITIES D false SCHEDULE L, PART V RUSSELL BROWN, A DIRECTOR OF THE COOPERATIVE, IS ALSO A KEY EMPLOYEE AT THE BANK WHERE THE COOPERATIVE MAINTAINS ITS GENERAL OPERATING CHECKING ACCOUNT. FORM 990 FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN NORTHERN NECK ELECTRIC COOPERATIVE'S BY LAWS. THE CORPORATION IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE NOW REPORTED ON LINE 4. FORM 990, PART IX, LINE 17 TRAVEL COSTS INCLUDE THE EXPENSES OF PURCHASING, LEASING, OPERATING, AND REPAIRING ANY VEHICLES OWNED BY THE COOPERATIVE AND USED IN THE COOPERATIVE'S ACTIVITIES. TRAVEL COSTS ALSO INCLUDE TRANSPORTATION COSTS, MEALS AND LODGING, AND PER DIEM PAYMENTS. FORM 990, PAGE 6, PART VI, LINE 6 NORTHERN NECK ELECTRIC COOPERATIVE IS AN ELECTRIC COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE. THE MEMBERS ELECT THE BOARD OF DIRECTORS WHICH SERVES AS THE GOVERNING BODY OF THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS OF THE GOVERNING BOARD ARE ELECTED BY THE MEMBERSHIP OF THE COOPERATIVE. THE BOARD HAS MONTHLY MEETINGS AND AN ANNUAL MEETING THAT IS OPEN TO THE ENTIRE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BOARD ARE SUBJECT TO APPROVAL BY THE MEMBERS AS PROVIDED FOR IN THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 8B COMMITTEE IS WITHOUT AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B CEO AND VP FINANCE REVIEW THE TAX RETURN WITH THE BOARD. FORM 990, PAGE 6, PART VI, LINE 12C OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A THE MEMBERS OF THE GOVERNING BOARD ALSO SERVE AS THE COMPENSATION COMMITTEE. ANNUALLY THEY EVALUATE THE PERFORMANCE OF THE CEO AND APPROVE THE COMPENSATION PACKAGE FOR THIS POSITION. FORM 990, PAGE 6, PART VI, LINE 15B THE COMPENSATION COMMITTEE APPROVES ALL OTHER PAYROLL INCREASES IN TOTAL. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST. FINANCIAL DATA IS PRESENTED TO THE MEMBERS AT THE ANNUAL MEETING AND IS ALSO INCLUDED ON THE 990 WHICH IS AVAILABLE UPON REQUEST. FORM 990, PART VII 990 PART VII SECTION A COLUMN F THE COOPERATIVE PARTICIPATES IN THE NRECA GROUP DEFINED PENSION PLAN. AS PART OF THIS PLAN, PARTICIPANTS ARE REQUIRED TO RECOGNIZE THE ACTUARIAL INCREASE IN THE VALUE OF THEIR ACCOUNT ON THE FORM 990. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN IS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE WITH ALL OTHER THINGS BEING EQUAL. FORM 990, PART XI, LINE 9 AMORTIZATION OF ACTUARIAL LOSS 70,008 NONCASH PATRONAGE CAPITAL ALLOCATIONS NOT REVENUE 377,302 PATRONAGE DIV. PAID TO MEMBERS' ACCTS NOT EXPENSE 1,924,818 RETIREMENT OF CAPITAL CREDITS -1,000,274 UNREALIZED LOSS OF INVESTMENTS -562,022 CONTRIBUTIONS IN AID OF CONSTRUCTION NOT REVENUE -541,891 TOTAL 267,941