2015-11-16T15:16:52-06:00 2014-12-31 161117932 BUFFAMANTE WHIPPLE BUTTAFARO PC 201 WEST THIRD STREET JAMESTOWN NY 14701 990 2014-01-01 160650108 STEUBEN RURAL ELECTRIC COOPERATIVE INC STEU 6077764161 9 WILSON AVENUE BATH NY 14810 WAYNE SHERWOOD GENERAL MANAGER 6077764161 2015-11-16 1 DAVID V DITANNA CPA P01368498 7166645104 2014 2016-02-25 16:41:14Z WAYNE SHERWOOD 9 WILSON AVENUE BATH NY 14810 12362402 0 X WWW.STEUBENREC.COOP X 1941 NY THE MISSION OF STEUBEN REC IS TO IMPROVE THE QUALITY OF LIFE BY PROVIDING OUR MEMBERS WITH LOW COST, RELIABLE ELECTRICITY AND RELATED SERVICES IN A SAFE MANNER. 9 9 32 0 0 0 0 0 10344586 11286030 73826 91269 161585 428374 10579997 11805673 0 0 324799 312776 383637 456608 0 0 0 8626158 9381664 9334594 10151048 1245403 1654625 41538034 42096148 28387969 27204034 13150065 14892114 THE MISSION OF STEUBEN REC IS TO IMPROVE THE QUALITY OF LIFE BY PROVIDING OUR MEMBERS WITH LOW COST, RELIABLE ELECTRICITY AND RELATED SERVICES IN A SAFE MANNER. 0 0 10151048 11286030 PROVIDING RELIABLE ELECTRICITY AND RELATED SERVICES TO OUR MEMBERS IN A SAFE MANNER. STEUBEN COUNTY RURAL ELECTRIC COOPERATIVE, INC. SERVICES OVER 6,000 MEMBERS THROUGHOUT FOUR COUNTIES. 10151048 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 23 0 1 32 1 0 0 0 0 0 0 0 11019081 1129227 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X BRYANT DILLON 6077764161 9 WILSON AVE BATH NY 14810 GORDON FOSTER PRESIDENT 9.50 X X 15250 0 0 JAMES R MCCORMICK VICE PRESIDENT 3.50 X X 9750 0 0 JOSEPH HAURYSKI SECRETARY 2.30 X X 5500 0 0 ROBERT V NICHOLS TREASURER 5.00 X X 10500 0 0 JANICE HOAD DIRECTOR 4.30 X 10000 0 0 WILLIAM H MOSS III DIRECTOR - PRIOR 3.50 X 8500 0 0 GARY BROCKWAY DIRECTOR 6.50 X 13000 0 0 LAURENCE ELLIS DIRECTOR 7.00 X 11750 0 0 WILLIAM MOSS DIRECTOR 3.50 X 8500 0 0 JENNIFER THURBER DIRECTOR 3.80 X 8250 0 0 WAYNE SHERWOOD GENERAL MANAGER 40.00 X 130270 0 34126 BRYANT DILLON FINANCE MANAGER - CURRENT 40.00 X 1731 0 0 DAVID PETERSON FINANCE MANAGER - PRIOR 40.00 X 168603 0 20878 HAROLD RODBOURN OPERATIONS MANAGER - PRIOR 40.00 X 123457 0 22096 525061 0 77100 3 0 1 0 STRAUSS TREE SERVICE INC 10646 COUNTY ROUTE 119 ADDISON NY 14801 TREE CLEARING 374999 ASPLUNDH TREE EXPERT 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 MOWING 178899 PLANT GROWTH MANAGEMENT PO BOX 214 NILES MI 49120 CONSULTING 112378 3 ELECTRIC SERVICE REVENUE 221000 11246630 11246630 CONSERVATION PROGRAMS 221000 39400 39400 11286030 91269 91269 780000 556729 223271 223271 223271 EQUITY IN EARNINGS OF SUBSIDIARY 221000 144320 144320 PATRONAGE CAPITAL CREDITS 221000 44984 44984 MISECLLANEOUS INCOME 221000 15799 15799 205103 11805673 11669420 0 136253 312776 456608 652144 1096437 COST OF POWER 3337838 DISTRIBUTION OPERATIONS 1507824 DISTRIBUTION MAINTENANC 1382751 ADMINISTRATIVE AND GENE 1002955 401715 10151048 1457387 2388160 251559 251855 1946893 1895819 1935012 1935012 431632 464647 552998 451818 52322320 18041378 34551067 34280942 -944400 -777467 1355886 1205362 41538034 42096148 1156847 1472794 26903774 25453395 327348 277845 28387969 27204034 X 0 0 0 0 13150065 14892114 13150065 14892114 41538034 42096148 X 1654625 87424 X 0 1 X 1 0 6728449 1393354 5335095 45360872 16648024 28712848 232999 232999 34280942 OTHER POSTRETIREMENT BENEFITS 277845 277845 X 12362402 556729 556729 11805673 0 11805673 10395001 556729 556729 9838272 312776 312776 10151048 PART X, LINE 2: THE COOPERATIVE IS A NOT-FOR-PROFIT, MEMBERSHIP COOPERATIVE UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND THEREFORE, THE COOPERATIVE IS EXEMPT FROM FEDERAL INCOME TAXES. PURSUANT TO THE NEW YORK RURAL ELECTRIFICATION LAW, THE COOPERATIVE IS ALSO EXEMPT FROM STATE INCOME TAXES. ACCORDINGLY, NO PROVISION FOR SUCH TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. CERTAIN INCOME EARNED FROM OTHER UNRELATED PRODUCTS AND SERVICES MAY REQUIRE THE COOPERATIVE TO PAY FEDERAL AND STATE INCOME TAXES. IF THIS SITUATION SHOULD ARISE, THE NECESSARY PROVISIONS FOR INCOME TAX LIABILITIES ARE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. NO SUCH TAX LIABILITIES EXISTED AT DECEMBER 31, 2014 AND 2013. THE COOPERATIVE IS REQUIRED TO FILE INFORMATIONAL RETURNS WITH THE INTERNAL REVENUE SERVICE. THE TAX YEARS FROM 2011 TO 2013 REMAIN SUBJECT TO EXAMINATION BY THE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: LANDFILL GAS DEBT SERVICE 219,781. LANDFILL GAS DEPRECIATION 336,948. PART XII, LINE 2D - OTHER ADJUSTMENTS: LANDFILL GAS DEBT SERVICE 219,781. LANDFILL GAS DEPRECIATION 336,948. PART XII, LINE 4B - OTHER ADJUSTMENTS: CURRENT YEAR RETIREMENT OF CAPITAL CREDITS 312,776. PART XII, LINE 4B THE COOPERATIVE HAD RETIREMENTS OF CAPITAL CREDITS OF $312,776 TO ITS MEMBERS IN 2014. THIS AMOUNT IS INCLUDED IN BENEFITS PAID TO OR FOR MEMBERS AS INDICATED ON SCHEDULE O. X 1 0 0 WAYNE SHERWOOD GENERAL MANAGER 130270 0 0 0 0 0 27265 0 6861 0 164396 0 0 0 DAVID PETERSON FINANCE MANAGER - PRIOR 62006 0 0 0 106597 0 11801 0 9077 0 189481 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR BODY POLITIC OR SUBDIVISION THEREOF MAY BECOME A MEMBER IN STEUBEN RURAL ELECTRIC COOPERATIVE, INC BY A) FILING A WRITTEN APPLICATION FOR MEMBERSHIP THEREIN, B) AGREEING TO PURCHASE FROM THE COOPERATIVE ELECTRIC ENERGY, C) AGREEING TO COMPLY WITH AND BE BOUND BY THE ARTICLES OF INCORPORATION AND BYLAWS OF THE COOPERATIVE AND ANY RULES AND REGULATIONS ADOPTED BY THE BOARD OF DIRECTORS, AND D) PAYING THE MEMBERSHIP FEE. NO MEMBER MAY HOLD MORE THAN ONE MEMBERSHIP IN THE COOPERATIVE, AND NO MEMBERSHIP IN THE COOPERATIVE SHALL BE TRANSFERABLE. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A NOMINATING COMMITTEE MADE UP OF CO-OP MEMBERS (NONE ARE ON THE BOARD) THAT MEET AT LEAST ONCE A YEAR. EACH MEMBER PRESENTS AT LEAST TWO CANDIDATES TO RUN FOR SEATS UP FOR ELECTION. PER THE BYLAWS, CANDIDATES MAY ALSO BE NOMINATED BY PETITION. CANDIDATES CAN ALSO BE NOMINATED FROM THE FLOOR DURING THE COOPERATIVE'S ANNUAL MEETING. ALL CANDIDATES ARE THEN VOTED ON BY THE MEMBERS IN ATTENDANCE AT THE ANNUAL MEETING AND BY ANY PROXIES RECEIVED PRIOR TO OR AT THE MEETING. FORM 990, PART VI, SECTION A, LINE 7B BOARD DECISIONS ARE PASSED BY A MAJORITY VOTE OF BOARD MEMBERS. ANY PROPOSED BYLAW CHANGES ARE VOTED ON BY THE MEMBERS AT THE NEXT ANNUAL MEETING OF THE MEMBERS IN ACCORDANCE WITH THE COOPERATIVE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11 ALL DIRECTORS RECEIVE A DRAFT COPY OF THE COMPLETED FORM 990 AND ARE ASKED TO PROVIDE CHANGES/CORRECTIONS WHICH ARE DOCUMENTED IN BOARD MEETING MINUTES. THE FINAL COMPLETED FORM 990 IS PROVIDED TO THE AUDITOR FOR SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY COMMITTEE REVIEWS AND DISCUSSES POLICIES ON AN ONGOING BASIS AND RECOMMENDS POSSIBLE CHANGES TO THE ENTIRE BOARD AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A A COMMITTEE MADE UP OF MEMBERS OF THE BOARD OR DIRECTORS MEET TO DISCUSS PROPOSED COMPENSATION INCREASES. RECOMMENDATIONS ARE SUBMITTED TO THE ENTIRE BOARD AND PASSED BY A MAJORITY VOTE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE SHALL PRODUCE THE DOCUMENTS UPON RECEIPT OF A WRITTEN REQUEST OF THE PUBLIC. THE COOPERATIVE WILL KEEP A RECORD OF THE WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIPS 6,300. DONATED CAPITAL 81,124. SREC GENERATING COMPANY INC 9 WILSON AVENUE BATH NY 14810 263794241 GENERATION NY C 144321 458294 1.00000 0 1 0 0 1 0 0 0 0 0 1 0 1 0 0 1 0 0 0 0 SREC GENERATING COMPANY J 780000 CONTRACT SREC GENERATING COMPANY O 44505 ESTIMATED COST SREC GENERATING COMPANY D 1935012 ACTUAL COST SREC GENERATING COMPANY L 67800 ACTUAL COST SREC GENERATING COMPANY A 54788 ACTUAL COST