2011-11-14T16:20:57-07:00 2010-12-31 990 2010-01-01 530116145 NATIONAL RURAL ELECTRIC COOPERATIVE NATI 7039075960 4301 Wilson Boulevard Arlington VA 222031860 Patrick Gioffre 7039075542 2011-06-03 2010 2016-03-07 17:11:31Z Glenn English 4301 Wilson Boulevard Arlington VA 22203 150462542 0 X nreca.coop X 1942 DC Membership association dedicated to representing the national interests of cooperative electric utilities and the consumers they serve. NRECA has more than 1,000 member cooperatives that serve 42 million consumers in 47 states. 47 47 850 0 1898950 289623 250000 250000 120697449 128562624 129109 36407 13517261 13899605 134593819 142748636 0 0 0 0 89425788 92057382 0 0 0 44875595 44251480 134301383 136308862 292436 6439774 161981481 185977987 87146764 104360129 74834717 81617858 The National Rural Electric Cooperative Association (NRECA) is the service organization for 1,062 rural electric cooperatives, public power districts and public utility districts. NRECA's mission is to engage in the compilation and dissemination of information with respect to rural electrification and the furnishing of other services to rural electric cooperatives and others in connection with the coordination, advancement, and development of rural electrification in the United States of America, its territories and possessions, for the primary and mutual benefit of the members of the Association and their consumer members. 0 0 0 0 0 Regulatory & Legislative: NRECA provides legal and support services to members related to compliance and regulatory issues. In addition, NRECA conveys to members of Congress and their staffs, federal agencies and the Administration the views of the 42 million consumers-members serviced by rural electric cooperatives, as well as keeping our membership involved with the legislative process. 0 0 0 Consulting, Training & Conferences: NRECA provides members with essential industry specific training as well as director, manager, and employee training; consulting related to organization and process improvements, and industry and technological changes; and conferences and membership meetings, promoting collaboration and networking. 0 0 0 Multiple Employer Benefit Plan Administration: NRECA provides plan administration services on a cost reimbursable basis to three multiple employer benefit programs in which NRECA Member cooperatives can participate. They consist of two retirement programs, the Retirement Security Program, which is a defined benefit pension plan, and the NRECA 401(k) Pension Plan, which is a defined contribution pension plan. These two plans serve more than 60,000 active and retired employees of NRECA Member cooperatives. The third plan is the Group Benefits Trust, which provides medical, dental, vision, disability, life, travel, and accident insurance to NRECA member cooperatives. The RS and 401(k) Pension plans are exempt from income taxes under IRS section 401 and the Group Benefits Trust is exempt under IRS Section 501(c)(9). 0 0 0 Strategic Initiatives: To provide our membership with strategies in dealing with such important issues as retail wheeling, cooperative formation, takeover prevention, benchmarking, etc. 0 0 0 Cooperative Research Network: Provide a comprehensive research and development program addressing the unique needs of rural electric cooperatives. 0 0 0 0 0 1 0 1 0 0 0 1 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 1 1 0 1 404 0 1 850 1 1 1 0 0 0 0 0 X 47 47 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X Veneicia Lockhart 7039075960 4301 Wilson Blvd Arlington VA 222031860 Anthony Anderson 4 X 14700 0 0 Martin Anderson 7 X 0 0 14400 Dean C Belt 6 X 12000 0 0 Ronald Bergh 3 X 8550 0 0 Joe Bongiovanni 2 X 3000 0 0 Vernon Brinkley 5 X 13800 0 0 Phil Carson 5 X 12600 0 0 Raymond Cloud 5 X 15600 0 0 Mel Coleman 4 X 15000 0 0 Charles Dawsey 5 X 10200 0 0 Larry Elkins 7 X 13800 0 0 Dennis Esaki 5.7 X 15000 0 0 Roy Friedersdorf 3 X 12600 0 0 Edward Garcia 6 X 14400 0 0 Scott Hallowell 5 X 13200 0 0 Angus Hastings 3 X 10200 0 0 Mark Hofer 15 X 24600 0 0 Clarence Keller 8 X 5400 0 7800 Robert Kretzschmar 3 X 5508 0 3600 Donald Link 10 X 0 0 12900 Thomas Madsen 5 X 0 0 13800 Tom McQuiston 4 X 13200 0 0 Don McQuitty 4 X 12600 0 0 Michael Miller 1 X 0 0 0 Galen Mills 4 X 0 0 15000 Russell Nielsen 4.7 X 10200 0 0 Christian Nygaard 3 X 3600 0 0 Robert Occhi 7 X 15000 0 0 Ronald Osterhout 6 X 14100 0 0 Max Ott 4 X 0 0 0 Gail Paine 8.7 X 9200 0 5800 Gary Potter 5 X 13800 0 0 Lanny Rodgers 6 X 13850 0 4600 Perry Rubart 1 X 3600 0 0 Ronald Schwartau 5.7 X 500 0 19350 CB Sharp 8 X 13200 0 0 James Springs 3 X 16278 0 0 Ronald Springsteel 2 X 7200 0 0 M LaDon Torgersen 6.7 X 19800 0 0 Guadalupe Vega 5 X 7800 0 0 Carl Widdowson 2 X 3600 0 0 Bryan Wolfe 7 X 18600 0 0 Jack Wolfe Jr 1 X 7200 0 0 Curtis Wynn 4 X 16200 0 0 Gerald Anderson 6 X 11400 0 0 Lawrence Becker 5.7 X 11700 0 0 Michelle DaVia 2 X 10800 0 0 Daniel Dyer 2 X 10200 0 0 Eston Glover 1.7 X 13200 0 0 William Hart 5 X 15450 0 0 Kerry Kelton 2.7 X 12600 0 0 Meera Kohler 3.7 X 13500 0 0 Sam Nichols 7 X 9600 0 0 Keith Ross 2 X 10800 0 0 David Spradlin 3 X 9600 0 0 Michael Guidry 11 X 30600 0 0 Curtis Nolan 9 X 27900 0 0 F E Wolski 8 X 47400 0 0 Glenn L English 40 X 1530263 0 107634 Patrick E Gioffre 53 X 594822 0 454757 James Bausell 48 X 241839 0 93892 Peter Baxter 56 X 273671 0 62336 Stephen Guth 50 X 315737 0 49847 Lauren Haywood 42 X 227642 0 63788 Paul Hvidding 44 X 230406 0 64661 Kirk Johnson 52 X 267510 0 46951 Veneicia Lockhart 49 X 197088 0 87069 Martin Lowery 48 X 556424 0 60792 Alexander McKelway 50 X 211878 0 70904 Mary McLaury 46 X 224608 0 106795 Peter Morris 41 X 1781444 0 55272 Stephen Sanker 54 X 239252 0 81967 Monica Schmidt 41 X 234440 0 81139 Danielle Sieverling 49 X 221214 0 46389 Scott Spencer 54 X 352897 0 142726 Thomas Stangroom 53 X 335036 0 118751 Dena Stoner 58 X 308518 0 94988 John Wade 48 X 329716 0 145301 Mark Ashton 40 X 390646 0 70873 Prabha Carpenter 40 X 305626 0 87646 Douglas Kern 40 X 612334 0 198394 Stuart Teach 41 X 624639 0 98869 Patricia Murphy 41 X 252915 0 85738 Milo Gilbertson 0 X 16575 0 0 11551576 0 2674729 236 1 1 0 MODIS Box 1020410 Atlanta GA 30368 Consulting services 459739 Miller Balis and ONeill PC 1015 15th Street NW Washington DC DC 20005 Legal services 387998 Danielle Corbin 7400 Nathaniel Drive Mount Airy MD 21771 Magazine advertising sales 332820 Ralph Graves Production 15914 Indianola Drive Rockville MD 20855 Convention services 296681 Summit Group LLC Division 30 8079 Solutions Center Chicago IL 60677 Marketing services and service awards 264148 20 0 0 0 0 0 250000 0 250000 Reimbursed costs - Plan & Sub Admin 524292 81602115 81602115 0 0 Training and professional services 541900 7855009 7855009 0 0 Magazine advertising 511120 1694997 0 1694997 0 Membership Dues 900099 27732379 27732379 0 0 Publication subscription income 511120 1453614 1453614 0 0 8224510 8224510 0 0 128562624 36407 36407 0 0 0 0 0 0 327400 123447 203953 0 13752928 0 7713906 0 6039022 0 6039022 6039022 0 0 0 0 0 Meetings and conferences 541900 7533183 7533183 0 0 0 0 0 0 7533183 142748636 140599686 1898950 0 0 0 0 0 9369888 0 54058541 14360022 9883034 4385897 531693 1117485 73716 604230 0 0 9623618 475301 3730624 582533 0 2340636 4038650 0 3727092 462820 0 5136130 260549 Equipment maintenance 2802082 Research expenses 1944236 Printing 1600565 Contracted/temporary personnel 1292342 Unrelated business income taxes 102275 3804903 136308862 0 0 0 0 3364964 16950342 29614164 24935506 1246362 2444505 51356 228967 6694331 21002618 140374203 45933422 96635236 94440781 122863 129897 12667547 13009534 11584658 12835837 161981481 185977987 15927807 15557017 0 0 19302566 34689648 0 133369 302101 9127744 8888383 42655278 44922980 87146764 104360129 X 0 0 0 0 74834717 81617858 74834717 81617858 161981481 185977987 X 6439774 343367 X 0 1 1 X 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1 27732379 3835000 0 3835000 5546476 0 -1711476 0 1 0 10809143 10809143 0 83216959 19349696 63867263 0 12864705 4979334 7885371 0 33483396 21604392 11879004 0 0 0 0 94440781 12182227 C Capital Term Certificates 827307 C 13009534 Deferred PSA expense 1670645 Patronage Capital Certificates 352412 Deferred Compensation Fund (employees) 8205505 Tenant Escrow 133619 Employee and Executive Option Purhcase Plan 2473656 12835837 Post retirement beenfits other than pensions 29566510 Deferred Compensation Fund (employees) 8205505 Employee and Executive Option Purchase Plan 2469077 Cooperative Research Network restricted funds 4560457 Other restricted funds and miscellaneous 121431 44922980 142748636 136308862 6439774 0 0 0 0 343367 343367 6783141 179839636 0 0 0 37091000 37091000 142748636 0 0 0 142748636 173056496 0 0 0 36747634 36747634 136308862 0 0 0 136308862 SchD_P04_S00_L02b Schedule D, Part IV, Line 2b Security deposits/escrow amounts are held for building tenants SchD_P10_S00_L02 Schedule D, Part X, Line 2 NRECA adopted the provisions of FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes, during the year ending December 31, 2007. For the period from NRECA's inception to December 31, 2010, no unrecognized tax provision or benefit exists. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Net income of wholly owned and affiliated organizations SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Revenue from subsidiaries and affiliated entities not included on Form 990 less tenant expenses shown on Form 990, Part VIII, Line 6b. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Expenses from subsidiaries and affiliated entities not included on Form 990 plus tenant expenses shown in Form 990, Part VIII, line 6b. X X X 0 1 X X X X X 0 0 1 Mark Ashton 263810 0 117140 0 9696 0 59145 0 11728 0 461519 0 0 0 James Bausell 232384 0 7205 0 2250 0 71859 0 22033 0 335731 0 0 0 Peter Baxter 266752 0 5484 0 1435 0 30976 0 31360 0 336007 0 0 0 Prabha Carpenter 215995 0 87474 0 2157 0 65970 0 21676 0 393272 0 0 0 Glenn L English 1112153 0 100 0 418010 0 84050 0 23584 0 1637897 0 0 0 Patrick E Gioffre 540208 0 29545 0 25069 0 431238 0 23519 0 1049579 0 0 0 Stephen Guth 299424 0 9234 0 7079 0 47826 0 2021 0 365584 0 0 0 Lauren Haywood 222480 0 4406 0 756 0 40468 0 23320 0 291430 0 0 0 Paul Hvidding 217649 0 7205 0 5552 0 62099 0 2562 0 295067 0 0 0 Kirk Johnson 255215 0 8984 0 3311 0 42000 0 4951 0 314461 0 0 0 Douglas Kern 285701 0 320233 0 6400 0 167434 0 31260 0 811028 0 0 0 Veneicia Lockhart 187895 0 8205 0 988 0 61991 0 25078 0 284157 0 0 0 Martin Lowery 406029 0 13980 0 136415 0 36775 0 24017 0 617216 0 0 0 Alexander McKelway 206810 0 4406 0 662 0 59090 0 11814 0 282782 0 0 0 Mary McLaury 215329 0 7205 0 2074 0 84831 0 21964 0 331403 0 0 0 Peter Morris 485352 0 498758 0 797334 0 27292 0 27980 0 1836716 0 0 0 Patricia Murphy 196132 0 54969 0 1814 0 65793 0 19945 0 338653 0 0 0 Stephen Sanker 228029 0 8984 0 2239 0 55804 0 26163 0 321219 0 0 0 Monica Schmidt 228171 0 5484 0 785 0 61373 0 19766 0 315579 0 0 0 Danielle Sieverling 211171 0 7205 0 2838 0 37902 0 8487 0 267603 0 0 0 Scott Spencer 332802 0 8512 0 11583 0 111398 0 31328 0 495623 0 0 0 Thomas Stangroom 316802 0 11205 0 7029 0 87196 0 31555 0 453787 0 0 0 Dena Stoner 272624 0 5484 0 30410 0 91401 0 3587 0 403506 0 0 0 Stuart Teach 391512 0 175660 0 57467 0 73062 0 25807 0 723508 0 0 0 John Wade 263363 0 8984 0 57369 0 126893 0 18408 0 475017 0 0 0 Milo Gilbertson 0 0 0 0 0 0 16575 0 0 0 16575 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Social Club dues - NRECA pays $1,700 for the CEO's membership to one social club. This expenditure is included in the budget approved by the NRECA Board of Directors. Travel for Companions: According to NRECA Board policy, the spouses of the President and CEO can accompany them on a trip where there will be official functions for which spouses are responsible. Tax Indemnification and Gross-up Paments: NRECA grosses up payments made to staff under the Executive 401k Bonus Plan and on eligible relocation expenses. SchJ_P01_S00_L01b Schedule J, Part I, Line 1b NRECA follows written policy except for social club dues. There is no written policy regarding paying for the CEO's membership to one social club; however, the Board does approve the expense. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 See explanation, Schedule O SchJ_P01_S00_L04 Schedule J, Part I, Line 4 The following participated in or received payment from NRECA's Executive Stock Option Plan: Mark Ashton ($6,495); Pat Gioffre ($1,433); Dena Stoner ($2,984). Cooperative Energy Services For profit subsidiary - 2 officers, 2 key employees serve as officers and board members of CES 140644 Administrative services agreement 0 RE Advisors Corporation and RE Investment Corporation For profit subsidiary - 4 key employees serve as officers and directors of REA/REI 6460868 Royalty payments and administrative services agreement 0 Cooperative Benefit Administrators For profit subsidiary - 1 officer, 1 directors 2 key employees serve as officers and directors of CB 16947589 Administrative services agreement 0 Electric Cooperative Life Insurance For profit subsidiary - 1 officer, 7 directors, 2 key employee serve as officers and directors 63230 Administrative services agreement 0 NRECA United For profit subsidiary - 2 officers, 1 key employee serve as United officers 306 Expense reimbursement 0 Cooperative Insurance Services For profit subsidiary - 1 officers, 7 directors, 2 key employees serve as CIS officers/directors 115361 Administrative services agreement 0 Arkansas Electric Co-op Corporation For profit member of NRECA with one shared director 847414 Various Services provided to member 0 Associated Electric Cooperative For profit member of NRECA with one shared director 3249586 Various Services provided to member 0 Western Farmers Electric Cooperative For profit member of NRECA with one shared director 284288 Various Services provided to member 0 F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Some NRECA Directors, Officers, and Key Employees also serve as Directors or Officers of the following NRECA Subsidiaries and affiliated entities: NRECA United; NRECA International LTD; NRECA International Foundation; Cooperative Energy Services; RE Advisors Corporation; RE Investment Corporation; Cooperative Benefit Administrators; Electric Cooperative Life Insurance Company and Cooperative Insurance Services; NRECA Wood Quality Control. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 All voting members must be entities whose operations are consistent with cooperative principles and the objectives and mission of NRECA and fall into one of the following three categories: (1) Distribution (electric distribution cooperatives or public utility districts); (2) Generation and Transmission (cooperatives or associations engated in the marketing, generation and/or transmisison of wholesale bulk electricity); and (3) Service members (not engaged in distribution, generation, or transmission of electricity but whose members consist of Distribution or G&T Cooperatives). F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a The NRECA Board of Directors is composed of 47 persons, one from each state where there is an operating rural electric system with membership in NRECA. Directors, each of whom must be a member, director, officer, or employee of an NRECA Member system, are elected every two years by the member systems in each state. Their terms run from the close of each NRECA Annual Meeting (usually held in March) to the close of the Annual Meeting two years hence. The NRECA President, Vice President, and Secretary Treasurer are elected every two years by the Board from among its members. The Chief Executive Officer is also selected by the Board. F990_P06_S0A_L07b Form 990, Part VI, Section A, Line 7b NRECA Members must approve any decision made by the NRECA Board relating to (1) changes in dues formulas and multipliers; (2) expulsion and removal of members; and (3) removal of any officer or director. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a NRECA's Form 990 is prepared by a Senior Accountant within Finance. The VP Of Finance reviews the Form 990 and supporting workpapers in detail. The Executive VP of Internal Services then reviews the Form 990 for accuracy. The Form 990 is then posted on the NRECA Board of Directors' website for their review and comments at least 7 days prior to the return being filed. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Each director, officer, and key employee is required to complete and submit a Conflict of Interest questionnaire that is reviewed by the VP of Finance. The VP of Finance reviews each questionnaire and follows up on any conflicts with the respective director, officer, or key employee along with NRECA's Corporate Counsel. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 CEO Compensation - Line 15a: The CEO Evaluation Committee of the Board is responsible for evaluating the performance of the CEO. The Committee reviews competitive salary survey data provided by Human Resources and develops a salary increase recommendation that is presented to the full Board based on the CEO's performance. NRECA's Human Resources department reviews independent compensation studies annually to verify the CEO's compensation is within a competitive range for CEO's of comparable organizations and provides this information to the Committee. The Board reviews and approves the CEO's compensation annually. Other Officers/Key Employees - 15b: NRECA engages an outside consulting firm such as Mercer to conduct an independent compensation study every three to four years for all typical positions to ensure NRECA's pay grades and compensation are competitive. Pay grades are reviewed annually and may be adjusted by a competitive factor as determined by results of independent competitive market surveys. NRECA has written policies and procedures governing its Salary Budget Process. The Salary Budget Process is intended to enable managers to make rational, performance based decisions concerning merit salary increases within the Association's budgetary constraints. However, it does not guarantee an increase to any employee. The Salary Budget Process is comprised of the following steps: (1) Approval of NRECA's merit pool budget by the NRECA Board of Directors, which is based on competitive survey data; (2) Completion of written Annual Performance Summary report for each employee by his/her manager; (3) Recommendation of merit increases for individual employees based upon performance; (4) Analysis, review and approval of merit increase recommendations by HR and the Chief Executive Officer; and (5) Communication of merit increase decisions to staff. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 NRECA distributes a copy of its Annual Report to the CEO of every NRECA member. In addition, NRECA publishes and makes available its annual report, financial statements, and conflict of interest policy on Cooperative.com, a member only site for electric cooperatives and affiliated entities. NRECA will provide copies of its Form 990 to the general public upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net income of subsidiaries NRECA International Foundation 4301 Wilson Blvd Arlington VA 22203 521409279 Charitable activities VA 501c3 509(a)(c) Type II NRECA 1 NRECA International LTD 4301 Wilson Blvd Arlington VA 22203 521387851 Intl rural electric VA 501c6 NRECA 1 Fundacion Energetica Boliviana 4301 Wilson Blvd Arlington VA 22203 Bolivian rural electrification BL N/A NRECA 1 NRECA Wood Quality Control Inc 4301 Wilson Blvd Arlington VA 22203 521446660 Wood pole testing VA 501c6 NRECA 1 Cooperative Insurance Services 4301 Wilson Blvd Arlington VA 22203 521076274 Insurance agent VA NRECA United C 121829 554480 1 Electric Cooperative Life Insurance Co 4301 Wilson Blvd Arlington VA 22203 860262046 Life and hospitalization insurance VA NRECA C 74111 1945237 1 Cooperative Benefit Administrators 4301 Wilson Blvd Arlington VA 22203 521327041 Claims administrator VA NRECA United C 17555094 3377748 1 Cooperative Energy Services 4301 Wilson Blvd Arlington VA 22203 521490710 Market research VA NRECA United C 140644 0 1 RE Investment Inc 4301 Wilson Blvd Arlington VA 22203 521679315 Investment broker VA NRECA United C 0 0 0 RE Advisers Inc 4301 Wilson Blvd Arlington VA 22203 521694000 Investment adviser VA RE Investment Inc C 6888971 6541196 1 NRECA United Inc 4301 Wilson Blvd Arlington VA 22203 521765915 Holding company VA ELCO C 0 196688 1 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 NRECA International Foundation k 58282 Accounting records NRECA International Foundation m 5339 Accounting records NRECA International Foundation p 526496 Accounting records NRECA International LTD k 594521 Accounting records NRECA International LTD m 96707 Accounting records NRECA International LTD p 4783952 Accounting records NRECA Wood Quality Control Inc k 103190 Accounting records NRECA Wood Quality Control Inc p 1274331 Accounting records NRECA Wood Quality Control Inc n 467327 Accounting records Cooperative Insurance Services k 85000 Accounting records Cooperative Insurance Services p 30361 Accounting records Electric Cooperative Life Insurance Co k 15000 Accounting records Electric Cooperative Life Insurance Co p 48230 Accounting records Cooperative Benefit Administrators k 6409394 Accounting records Cooperative Benefit Administrators m 756206 Accounting Records Cooperative Benefit Administrators n 7675576 Accounting records Cooperative Benefit Administrators p 2106413 Accounting records Cooperative Energy Services p 140644 Accounting records RE Investment Inc a-iii 203953 Accounting records RE Investment Inc k 933531 Accounting records RE Investment Inc p 786004 Accounting records RE Advisers Inc k 2760236 Accounting records RE Advisers Inc p 1436944 Accounting records RE Advisers Inc n 340200 Accounting Records