2017-11-10T13:44:38-05:00 2016-12-31 590548468 PURVIS GRAY & COMPANY LLP 2347 SE 17TH STREET OCALA FL 34471 990 2016-01-01 590469125 SUMTER ELECTRIC COOPERATIVE INC SUMT 3527933801 P O BOX 301 SUMTERVILLE FL 335850301 JAMES P DUNCAN CEO 3527933801 2017-10-18 true TIMOTHY M WESTGATE CPA P00631621 3527323872 2017-10-18 6D201282995F20FFFF0F63BEF6FF9CBF39AE6BC3 46FAAD1F921CCBEF21495CE626647C0F0995BC4B 2016 2018-03-14 21:41:22Z JAMES P DUNCAN PO BOX 301 SUMTERVILLE FL 335850301 364277873 false X WWW.SECOENERGY.COM X 1938 FL TO SATISFY CUSTOMERS BY PROVIDING RELIABLE COMPETITIVELY PRICED ELECTRICITY AND RELATED SERVICES IN A FINANCIALLY SOUND MANNER. 9 9 435 33390 29051 58448 54053 375054766 363044259 842223 780549 28386 33791 375983823 363912652 90000 81000 4604468 5094421 4507199 4438350 0 0 358690817 353816644 367892484 363430415 8091339 482237 724709744 743096562 486943502 498416117 237766242 244680445 TO SATISFY CUSTOMERS BY PROVIDING RELIABLE COMPETITIVELY PRICED ELECTRICITY AND RELATED SERVICES IN A FINANCIALLY SOUND MANNER. false false SALE AND DISTRIBUTION OF ELECTRICITY TO 196,461 ACCOUNTS IN THE COOPERATIVE'S SERVICE AREA. 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 true true true false false false false false true false false false false false false false false true 138 0 435 true true true false false false true true 359810938 1298654 false X 9 9 true false false false true true true true true false false true true true true true true true true false X EUGENE KANIKOVSKY 3527933801 330 SOUTH HIGHWAY 301 SUMTERVILLE FL 33585 RAY F VICK TRUSTEE-PRES 14.00 X X 33992 0 0 RICHARD BELLES TRUSTEE 28.00 X 32996 0 0 WILLIAM JAMES JR TRUSTEE 10.00 X 30992 0 0 RICHARD DENNISON TRUSTEE 12.00 X 27996 0 0 ROBIN R HENION TRUSTEE - SE 6.00 X X 27493 0 0 DILLARD B BOYATT TRUSTEE 6.00 X 26992 0 0 SCOTT BOYATT TRUSTEE 10.00 X 24996 0 0 EARL MUFFETT TRUSTEE 6.00 X 23492 0 0 JERRY D HATFIELD TRUSTEE-V.P. 4.00 X X 20494 0 0 JAMES P DUNCAN CEO 55.00 X 796876 0 85581 EUGENE V KANIKOVSKY CFO 53.00 X 306756 0 105639 JOHN LASELVA VP REL & OP 60.00 X 357211 0 123446 ROLAND B BRICKHOUSE VP ENG & IT 55.00 X 342269 0 159890 GREGGORY H MORRELL VP HR & COR 50.00 X 298212 0 56225 KATHRYN E GLORIA VP COR COMM 50.00 X 280052 0 63786 LONNIE W PENNINGTON MGR TRANS & 40.00 X 196521 0 85973 THOMAS MCDANIEL CONTROLLER 40.00 X 179557 0 89082 KENNY J RODRIGUE MGR SUBST & 40.00 X 168963 0 52028 JERRY T BROWN MGR OF TECHN 40.00 X 161560 0 54174 BARBARA SHAW MGR OF KEY A 40.00 X 149043 0 76061 3486463 951885 106 false true false NELSON TREE SERVICE INC 350 E DEVON AVE 774489 ITASCA IL 60143 VEGETATION MGMT 6905776 IVY H SMITH COMPANY LLC PO BOX 860786 ORLANDO FL 32886 LINE CONSTRUCT. 6356776 PIKE ELECTRIC INC PO BOX 1000 DEPT 517 MEMPHIS TN 38148 LINE CONSTRUCT. 5442081 DUKE ENERGY PO BOX 602880 CHARLOTTE NC 282602880 LINE CONSTRUCT. 2459291 CONTRACT CALLERS 510 GREENE ST 3RD FLOOR SUITE 302 AUGUSTA GA 30901 METER READING 2287419 31 54053 54053 SALE OF ELECTRICITY 221000 357177108 357177108 POLE RENTAL 221000 2861717 2861717 SERVICE CHARGE INCOME 221000 2633431 2633431 CAPITAL CREDITS - OTHER 221000 372003 372003 363044259 819088 819088 53510 20120 33390 33390 33390 306562 345101 -38539 -38539 -38539 401 401 401 363912652 359772000 33390 4053209 45000 36000 5094421 3225386 1212964 13852371 23845708 PURCHASED POWER 246703836 DISTR EXPENSE - MAINT 27788848 DISTR EXPENSE - OPERAT 14550974 ADMIN. GEN. AND OTHER 13456024 13618883 363430415 0 0 0 2217999 3295403 18708407 15437191 15442853 14254802 8870646 8095241 798427992 173316057 608272386 625111935 71197453 76901990 724709744 743096562 41958219 39628616 420093020 432676387 24892263 26111114 486943502 498416117 X 852235 869835 3011677 3677479 233902330 240133131 237766242 244680445 724709744 743096562 482237 6431966 X false true X true false 11948216 11948216 25737536 9228536 16509000 2056033 2056033 62316644 41596917 20719727 696369563 122490604 573878959 625111935 PATRONAGE CAPITAL-G&T COOP&SUPP LEND 73071022 C NRUCFC CAPITAL TERM CERTIFICATES 3150984 C NRECA DEFERRED COMP ASSETS 677884 F MEMBERSHIP FEES IN ASSOC. ORG 2100 C 76901990 CONSUMER DEPOSITS 15617677 DEFERRED CREDITS 10062150 CAPITAL LEASE - CURRENT 431287 26111114 X 369627681 6120966 6120966 363506715 405937 405937 363912652 358311114 358311114 5119301 5119301 363430415 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE IS A NONPROFIT ORGANIZATION EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(12). ACCORDINGLY,THERE IS NO PROVISION FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. THE COOPERATIVE ADOPTED ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE COOPERATIVE'S FINANCIAL STATEMENTS. THE COOPERATIVE DOES NOT BELIEVE IT HAS TAKEN ANY UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS. THE COOPERATIVE'S FORM 990'S FOR THE PAST THREE YEARS ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015, THE COOPERATIVE FILED FORM 990T FOR UNRELATED RENTAL INCOME ON COMMUNICATION TOWERS. THE AMOUNT PAID OR ACCRUED WAS 4,358 AND 3,631, RESPECTIVELY. SCHEDULE D, PAGE 4, PART XI, LINE 2D ASSIGNED CAPITAL CREDITS ACCRUED, NOT PAID 6,120,966 SCHEDULE D, PAGE 4, PART XI, LINE 4B CASH RECEIVED FROM CAPITAL CREDITS PREVIOUSLY ACCRUED 372,004 ANGEL FUND CONTRIBUTIONS 54,053 RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -20,120 SCHEDULE D, PAGE 4, PART XII, LINE 4B ANGEL FUND EXPENSES 53,656 RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -20,120 RETIREMENT OF CAPITAL CREDITS 5,085,765 false UNITED WAY OF LAKE COUNTY 118 WEST MEADOW STREET LEESBURG FL 34748 591143758 501C3 18000 SEE SCH. I, PART IV UNITED WAY OF MARION COUNTY 1401 NE 2ND STREET OCALA FL 34470 590946642 501C3 18000 SEE SCH. I, PART IV UNITED BASKET 103 NORTH MILL AVENUE INVERNESS FL 34450 592553570 501C3 9000 SEE SCH. I, PART IV 3 SEE SCHEDULE I, PART IV 36000 SCHEDULE I, PAGE 4, PART IV SCHEDULE I, PART II - OTHER ASSISTANCE TO ORGANIZATIONS SUMTER ELECTRIC COOPERATIVE PROVIDES FINANCIAL ASSISTANCE TO WORTHY CAUSES IN THE ORGANIZATION'S SERVICE AREA. SCHEDULE I, PART III - OTHER ASSISTANCE TO INDIVIDUALS 12 EDUCATIONAL SCHOLARSHIPS WERE AWARDED TO HIGH SCHOOL SENIORS. THE RECIPIENT MAY USE THE SCHOLARSHIP TO PURSUE ANY MAJOR AT A HIGHER EDUCATIONAL INSTITUTION. X X X X X false false false JAMES P DUNCAN CEO 579785 98309 118782 68334 17247 882457 EUGENE V KANIKOVSKY CFO 257570 27694 21492 78475 27164 412395 JOHN LASELVA VP REL & OP 290593 33628 32990 96055 27391 480657 ROLAND B BRICKHOUSE VP ENG & IT 282894 29728 29647 142107 17783 502159 GREGGORY H MORRELL VP HR & COR 245200 25919 27093 39611 16614 354437 KATHRYN E GLORIA VP COR COMM & ENG SV 230627 24224 25201 52396 11390 343838 LONNIE W PENNINGTON MGR TRANS & DISTR OP 159956 15768 20797 64139 21834 282494 THOMAS MCDANIEL CONTROLLER 141463 19975 18119 63697 25385 268639 KENNY J RODRIGUE MGR SUBST & TRANS 152621 13026 3316 39579 12449 220991 JERRY T BROWN MGR OF TECHNICAL SVC 134059 14844 12657 30820 23354 215734 BARBARA SHAW MGR OF KEY ACCS 121052 15828 12163 59216 16845 225104 SEMINOLE ELECTRIC COOPERATIVE INC SEE PART V 246703836 PURCHASE POWER false SCHEDULE L, PART V JAMES DUNCAN, CEO, JERRY HATFIELD, TRUSTEE, AND EARL MUFFETT, TRUSTEE, SERVE ON SEMINOLE ELECTRIC COOPERATIVES, INC'S BOARD OF TRUSTEES. FORM 990 FORM 990, PART IX, LINE 4 - BENEFITS PAID TO OR FOR MEMBERS THE IRS' INSTRUCTIONS FOR THE 2016 VERSION OF THE FORM 990, PART IX, LINE 4 STATE: "ENTER THE PAYMENTS MADE BY THE ORGANIZATION TO PROVIDE BENEFITS TO MEMBERS (...PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS). STATEMENT OF FUNCTIONAL EXPENSES, LINE 4 IS ENTITLED "BENEFITS PAID TO OR FOR MEMBERS." FOR PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT REPORTED IN THE AUDITED STATEMENT OF REVENUE AND CHANGES IN PATRONAGE CAPITAL FOR THE YEAR ENDED DECEMBER 31, 2016 AND OTHER BENEFITS PAID TO MEMBER IN THE AMOUNT OF 5,085,765 AND 8,656 OF UTILITY ASSISTANCE PROVIDED TO VARIOUS MEMBERS. FORM 990, PART IX, LINE 24 (E) - TAX EXPENSE DISCLOSURE THE SOFTWARE USED TO PREPARE THE FORM 990 IS NOT CURRENTLY DESIGNED TO REPORT INCOME TAX EXPENSE FROM UNRELATED BUSINESS INCOME SEPARATELY ON LINE 24 AS REQUIRED BY THE INSTRUCTIONS FOR FORM 990. INCOME TAX EXPENSE FOR UNRELATED BUSINESS INCOME IS THEREFORE INCLUDED IN LINE 24(E). THE AMOUNT OF FEDERAL AND STATE INCOME TAX EXPENSE INCLUDED IN LINE 24(E) FROM UNRELATED BUSINESS INCOME IS 4,358. FORM 990, PAGE 6, PART VI, LINE 2 DILLARD B. BOYATT SCOTT BOYATT TRUSTEE TRUSTEE FAMILY - UNCLE & NEPHEW FORM 990, PAGE 6, PART VI, LINE 6 THE SUMTER ELECTRIC COOPERATIVE HAS MEMBERS COMPRISED OF ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR SUBDIVISION WHO AGREES TO (1) PURCHASE UTILITY SERVICES FROM THE COOPERATIVE, (2) COMPLY WITH THE ARTICLES OF INCORPORATION AND BY-LAWS, AND (3) PAY THE MEMBERSHIP FEE. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS VOTE FOR A TRUSTEE TO REPRESENT THEIR DISTRICT. FORM 990, PAGE 6, PART VI, LINE 7B THE BOARD OF TRUSTEES IS REQUIRED TO RECEIVE MEMBER APPROVAL ON ALL BY-LAW AND ARTICLE OF INCORPORATION CHANGES. MEMBER APPROVAL IS OBTAINED THROUGH A VOTE AT THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 11B THE CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, AND CONTROLLER HAVE REVIEWED AND APPROVED THE 990. THE BOARD OF TRUSTEES RECEIVED AN ELECTRONIC COPY OF THE FINAL 990 PRIOR TO FILING. TRUSTEES WERE ASKED FOR COMMENTS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL COOPERATIVE PERSONNEL, INCLUDING TRUSTEES AND EMPLOYEES. ANY CONFLICTS ARE REQUIRED TO BE REPORTED TO THE BOARD OF TRUSTEES. WILLFUL VIOLATION OF THE POLICY MAY REQUIRE DRASTIC ACTION, INCLUDING DISMISSAL FROM THE BOARD OR TERMINATION OF EMPLOYMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE CEO'S COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. INDUSTRY COMPENSATION SURVEYS, AN INDEPENDENT COMPENSATION CONSULTANT, AND FORM 990S OF OTHER ORGANIZATIONS ARE USED AS A BASIS FOR SALARY DETERMINATION. THIS WAS LAST DONE IN JULY 2016. FORM 990, PAGE 6, PART VI, LINE 15B THE CEO REVIEWS AND APPROVES SALARY FOR OFFICERS AND KEY EMPLOYEES. INDUSTRY COMPENSATION SURVEYS ARE USED AS A BASIS FOR SALARY DETERMINATION. FORM 990, PAGE 6, PART VI, LINE 19 COPIES OF THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 INCREASE IN MEMBERSHIP 17,600 ASSIGNED CAPITAL CREDITS, NOT PAID 6,120,964 OTHER EQUITIES 665,802 CAPITAL CREDITS, CASH RECEIVED -372,004 ANGEL FUND NET INCOME -396 TOTAL 6,431,966