2013-11-04T14:19:15-08:00 2012-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2012-01-01 540322350 NORTHERN NECK ELECTRIC COOPERATIVE NORT 8043333621 PO BOX 288 WARSAW VA 22572 GREG WHITE 2013-11-04 true G STEVEN GILLIAM CPA P00348264 8043231313 2012 2016-03-07 17:11:31Z Gregory W White 85 St Johns Street Warsaw VA 22572 34344762 false false X www.nnec.coop X 1937 VA Safe and effective DISTRIBUTION OF ELECTRICITY TO the members of the cooperative 7 6 58 19870 16720 0 33628544 32369596 146359 55478 2085967 1863115 35860870 34288189 0 1478652 767846 5515613 5636325 0 0 27330538 26453919 34324803 32858090 1536067 1430099 78007772 77869729 42785540 42049654 35222232 35820075 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 $19,947,904Salaries and wages $ 3,482,053Depreciation $ 3,410,128 false false false false false false false false false false true false true false true false true false false false false false false false false false false false false true false false false false false false false false false false true false false false false false false false false false false true 25 0 true 58 true true false false false false false false false 32369596 1786967 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 VA X THE COOPERATIVE 8043333621 85 ST JOHNS STREET WARSAW VA 22572 James A Wise 5.00 0.00 X 17859 0 0 RALPH E SUTTON 4.00 0.00 X 18730 0 0 A WAYNE SAUNDERS 4.00 0.00 X 15910 0 0 Russell G Brown 7.00 0.00 X 27289 0 0 Elnora F Tompkins 5.00 0.00 X X 15007 0 0 Hunter R Greenlaw Jr 4.00 0.00 X X 17410 0 0 J Steve Thomas Sr 4.00 0.00 X X 14980 0 0 Martin R Mothershead 40.00 0.00 X 130851 0 64318 Gregory W White 40.00 0.00 X 254963 0 152059 Richard E McLendon 40.00 0.00 X 122862 0 29815 WILLIAM PATRICK HENRY 40.00 0.00 X 134155 0 53342 JAMES A MOSS 40.00 0.00 X 126899 0 51938 896915 351472 5 false true false Asplundh 708 Blair Mill Road Willow Grove PA 19090 ROW Maintenance 1155310 1 0 SALE & DIST. OF ELECTRIC 221000 32369596 32369596 32369596 81245 81245 0 0 194799 1864 192935 192935 4736 188199 28942 54709 -25767 -25767 -25767 0 0 0 MERCHANDISING 221000 15134 15134 CONT IN AID OF CONST 221000 1624007 1624007 CASH PATRONAGE RECEIVED 221000 31039 31039 1670180 34288189 34024642 19870 243677 0 0 0 767846 729376 0 3482053 729380 386087 309429 0 36952 0 0 0 0 0 0 0 0 0 0 0 0 0 1546487 0 3408264 0 GENERAL AND ADMIN 676474 DISTRIBUTION OPERATION 839877 DISTRIBUTION MAINTENANCE 1654069 COST OF POWER 19947904 -1656108 32858090 0 0 0 939428 440430 0 0 5421062 5428281 0 0 0 606765 690931 1973359 1635368 87591143 32778964 54464456 54812179 200000 200000 0 14393338 14653482 0 9364 9058 78007772 77869729 2168837 2491520 34631781 33906262 5984922 5651872 42785540 42049654 X 35222232 35820075 35222232 35820075 78007772 77869729 X 1430099 -832256 X false true X true false 87591143 32778964 54812179 54812179 14653482 OTHER POSTRETIREMENT BENEFITS 4337559 DEFERRED CREDITS 12512 CONSUMER DEPOSITS 901992 ACCRUED LIABILITIES 399809 5651872 32935302 32935302 1352887 1352887 34288189 32090244 32090244 767846 767846 32858090 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S Patronage Div. paid to members' accts $767846 Part XI, Line 4b Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CONTRIBUTIONS IN AID OF CONSTRUCTION $1624007 Patronage capital cash received adj. $-271120 X X X X false false false WILLIAM PATRICK HENRY 131496 2659 47463 5879 187497 Richard E McLendon 120779 2083 23936 5879 152677 Martin R Mothershead 129236 1615 58439 5879 195169 JAMES A MOSS 122563 4336 46059 5879 178837 Gregory W White 245652 9311 146180 5879 407022 Russell G Brown - Director Key employee 44434535 Banking Activities dep false Russell Brown is a director of the cooperative that is also a key employee at bank where the Cooperative maintains it's general operating checking account. FORM 990, PART IX, LINE 4 BENEFITS PAID TO OR FOR MEMBERS PATRONAGE DIVIDENDS 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 INSTRUCTIOONS 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. 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 Other Changes In Net Assets Or Fund Balances - Other Increases UNRECOGNIZED ACTURIAL GAIN (LOSS) = $58645 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases UNREALIZED GAIN (LOSS) ON INVESTEMENTS = $117747 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases RETIREMENT OF CAPITAL CREDITS = -$423607 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases Patronage Div. paid to members' accts not expense per gaap = $767846 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Increases noncash patronage capital allocations not revenue per IRS = $271120 Form 990, Part XI, Line 9 Other Changes In Net Assets Or Fund Balances - Other Decreases CONTRIBUTIONS IN AID OF CONSTRUCTION not revenue per gaap = -$1624007 Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Governing documents and policies are available upon request. Financial data is presented to the members at the annual meeting and also included on the 990 which is available upon request. Form 990, Part VI, Line 15b Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees 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. ALSO, THE COMPENSATION COMMITTEE APPROVES ALL OTHER PAYROLL INCREASES IN TOTAL. Form 990, Part VI, Line 12c Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Officers, directors and key employees are required to disclose interests that could give rise to conflicts. Form 990, Part VI, Line 11b Form 990, Part VI, Line 11b: Form 990 Review Process NO REVIEW WAS OR WILL BE CONDUCTED. Form 990, Part VI, Line 7b Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders certain decisions of the governing board are subject to approval by the members as provided for in the bylaws. Form 990, Part VI, Line 7a Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body 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, Part VI, Line 6 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Northern Neck Electric Cooperative is an electric membership corporation that delivers electricity to the members of the Cooperative. The members of the cooperative elect the board of directors with serves as the governing body of the cooperative.