2012-11-15T08:54:38-08:00 2011-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2011-01-01 540387895 SOUTHSIDE ELECTRIC COOPERATIVE INC SOUT 4346457721 POST OFFICE BOX 7 CREWE VA 23930 JEFFREY S EDWARDS 2012-11-15 true G STEVEN GILLIAM CPA 8043231313 2011 2016-02-24 21:20:13Z JEFFREY S EDWARDS 2000 WEST VIRGINIA AVENUE CREWE VA 23930 111180177 false false X WWW.SEC.COOP X 1937 VA Safe and effective distribution of electricity to the members of the cooperative. 9 9 192 39362 37451 0 112598949 109396473 101936 94484 1276927 1633808 113977812 111124765 0 2822881 16852367 16276441 0 0 92319262 91785741 109171629 110885063 4806183 239702 253730652 261887774 159753817 167544272 93976835 94343502 Safe and effective distribution of electricity to the members of the cooperative. false false Safe and effective distribution of electricity to the members of the cooperative. The three largest program services as measured by expenses were as follows:Cost of power $67,978,955Salaries and wages 11,167,154Depreciation 9,031,051 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 false false false false false false false false false false false true 20 0 true 192 true true true false false false false false false false false false 109468004 1502064 false false false false X 9 9 false false false false true true true true true false false false true true true true true true true true false false VA X X THE CORPORATION 8005522118 Post Office Box 7 CREWE VA 23930 MICHAEL LOBUE 12.00 X 21600 0 0 JOHN L LEWIS III 5.00 X 21600 0 0 LILLIAN H HICKS 9.00 X 21600 0 0 CHARLES J FRIEDL 12.00 X 21600 0 0 PAUL S BENNETT 10.00 X 21600 0 0 HERBERT E WINN 12.00 X X 21600 0 0 QUENTIN E WILHELMI 8.00 X X 21600 0 0 EARL C CURRIN JR 9.00 X X 21600 0 0 FRANK W BACON 13.00 X X 21600 0 0 DANNY HAMMOND 50.00 X 167447 0 62380 JEFFREY S EDWARDS 55.00 X 346335 0 394807 Frank Harris 50.00 X 154773 0 57146 Delbert Orsborne 45.00 X 119800 0 42418 George Felts 50.00 X 161398 0 72575 Jean Morris 50.00 X 123463 0 101255 Dennis Bell 50.00 X 117417 0 49028 1385033 779609 7 false true false PowerTech Engineering 2060 E EXCHANGE PLACE SUITE 120 Tucker GA 30084 Substation Engineeri 416404 NaturChem Inc 1734 Union St Greenville NC 27834 Right-of-Way Clearin 690911 Lewis Tree Service PO Box 8000 buffalo NY 14267 ROW 2413241 Lee Electrical Construction PO Box 55 Aberdeen NC 28315 Line Construction 2387054 Davis H Elliot Compnay Inc PO Box 37251 Baltimore MD 21297 line construction 785728 7 0 Sale and Dist. of elect. 221000 109396473 109396473 109396473 94484 94484 0 0 285397 55412 229985 229985 43119 186866 0 0 0 0 Pole Sales Cont. In aid of Const. 221000 1232369 1232369 Cash Patronage Rec. 221000 175211 175211 -3757 -3757 1403823 111124765 110804053 39362 281350 0 0 0 2822881 1165369 0 11167154 3009443 0 934475 0 97179 0 0 0 0 0 0 0 0 0 0 0 0 0 6473308 0 0 0 Distribution Oper 1372189 Dist. Maintenance 7452475 Depreciation 9031051 Cost of power 67978955 Admin & General 2638274 -3257690 110885063 0 0 0 160973 1861118 0 0 16747533 14621391 0 0 0 710375 772056 3559650 3065178 284734998 87440430 188903095 197294568 0 0 42551996 43533101 0 1097030 740362 253730652 261887774 8051755 8767146 145312689 153660464 6389373 5116662 159753817 167544272 X 93976835 94343502 93976835 94343502 253730652 261887774 X 239702 126965 X false true true X true true 284734998 87440430 197294568 197294568 43533101 other 1240184 Deferred credits 1266262 CONSUMER deposits 2073109 CAPITAL LEASE OBLIGATIONS 393840 ACCRUED SICK LEAVE 143267 5116662 111124765 110885063 239702 2583179 2583179 2822881 110940475 110940475 184290 184290 111124765 108070983 108070983 2814080 2814080 110885063 Part XIII, Line 4b Part XIII, Line 4b: Other revenue amounts included on 990 but not included in F/S Patronage Div. paid to members' accts. $2822881 other $-8801 Part XII, Line 4b Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S CONTRIBUTION IN AID OF CONSTRUCTION $1232369 COVERSION TO CASH PATRONAGE RECEIVED $-992667 Rental expense netted against revenue $-55412 Part XI, Line 8 Part XI, Line 8: Other Changes in Net Assets or Fund Balances non-cash patronage allocations not revenue per irs $992667 Patronage Div. paid to members' accts. not expense per gaap $2822881 CONTRIBUTIONS IN AID OF CONSTRUCTION Not revenue per GAAP $ -1232369 RETIREMENT OF CAPITAL CREDITS $ -1795180 Net change in donated capital and memberships $ -661034 X X X X false true false JEFFREY S EDWARDS 346335 375992 18815 741142 Jean Morris 123463 82440 18815 224718 George Felts 161398 53760 18815 233973 Frank Harris 154773 50037 7109 211919 Dennis Bell 117417 30213 18815 166445 Delbert Orsborne 119800 23603 18815 162218 DANNY HAMMOND 167447 43565 18815 229827 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 Southside Electric Cooperative's by-laws. The Cooperative 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. The total amount paid for the year ending December 31, 2010 was $10,047,430. 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 rates for participants in the plan are 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. These actuarial increases, do not represent actual cash received, but rather an unrealized actuarial increase in retirement accounts that is required to be reported on the form 990. 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 in the 990 which is also 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 Anyone that has a conflict of interest will excuse themselves from discussions or voting on subject matter where a possible conflict exists. Form 990, Part VI, Line 11 Form 990, Part VI, Line 11: Form 990 Review Process Manager of Finance and CEO review tax return with the board prior to filing. 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 body are subject to approval by the members as provided for in its bylaws. Form 990, Part VI, Line 7a Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body Members of the governing body are subject to approval by the members as provided in its bylaws. Form 990, Part VI, Line 6 Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder Southside Electric Cooperative is an electric cooperative that delivers electricity to the members of the cooperative.