Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 01-01-2010 and ending 12-31-2010
BCheck if applicable:
CName of organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
4301 Wilson Boulevard
 
Room/suite
City or town, state or country, and ZIP + 4
Arlington, VA222031860
D Employer identification number

53-0116145
E Telephone number

G Gross receipts $ 150,462,542
F Name and address of principal officer:
Glenn English
4301 Wilson Boulevard
Arlington,VA22203
I
Tax-exempt status: ( 6 ) LeftBullet (insert no.) or
J
Website:MediumBullet
nreca.coop
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1942
M State of legal domicile: DC
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: 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.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 47
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 47
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 850
6 Total number of volunteers (estimate if necessary) .... 6 0
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 1,898,950
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 289,623
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 250,000 250,000
9 Program service revenue (Part VIII, line 2g) ......... 120,697,449 128,562,624
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 129,109 36,407
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 13,517,261 13,899,605
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 134,593,819 142,748,636
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 0 0
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 89,425,788 92,057,382
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 44,875,595 44,251,480
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 134,301,383 136,308,862
19 Revenue less expenses. Subtract line 18 from line 12...... 292,436 6,439,774
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 161,981,481 185,977,987
21 Total liabilities (Part X, line 26)............ 87,146,764 104,360,129
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 74,834,717 81,617,858
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: 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.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 0 including grants of $ 0 ) (Revenue $ 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.
4b (Code:   ) (Expenses $ 0 including grants of $ 0 ) (Revenue $ 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.
4c (Code:   ) (Expenses $ 0 including grants of $ 0 ) (Revenue $ 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).
(Code:   ) (Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
Strategic Initiatives: To provide our membership with strategies in dealing with such important issues as retail wheeling, cooperative formation, takeover prevention, benchmarking, etc.
(Code:   ) (Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
Cooperative Research Network: Provide a comprehensive research and development program addressing the unique needs of rural electric cooperatives.
4d Other program services. (Describe in Schedule O.)
(Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
4e Total program service expensesMediumBullet$ 0
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? Click to see attachment........
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part IIIClick to see attachment........................
5
Yes
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part I.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part II...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III ....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part V
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..
21
 
No
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III.....
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I......
25a
 
 
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................
25b
 
 
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II...........................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III...............
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV .........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV...................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV.. Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
404
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
850
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
 
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
47
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
47
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
Yes
 
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
Yes
 
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
VA
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
Veneicia Lockhart
4301 Wilson Blvd
Arlington,VA222031860
(703) 907-5960
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) Anthony Anderson
Board Member
 4 X           14,700 0 0
(2) Martin Anderson
Board Member
 7 X           0 0 14,400
(3) Dean C Belt
Board Member
 6 X           12,000 0 0
(4) Ronald Bergh
Board Member
 3 X           8,550 0 0
(5) Joe Bongiovanni
Board Member
 2 X           3,000 0 0
(6) Vernon Brinkley
Board Member
 5 X           13,800 0 0
(7) Phil Carson
Board Member
 5 X           12,600 0 0
(8) Raymond Cloud
Board Member
 5 X           15,600 0 0
(9) Mel Coleman
Board Member
 4 X           15,000 0 0
(10) Charles Dawsey
Board Member
 5 X           10,200 0 0
(11) Larry Elkins
Board Member
 7 X           13,800 0 0
(12) Dennis Esaki
Board Member
 5.7 X           15,000 0 0
(13) Roy Friedersdorf
Board Member
 3 X           12,600 0 0
(14) Edward Garcia
Board Member
 6 X           14,400 0 0
(15) Scott Hallowell
Board Member
 5 X           13,200 0 0
(16) Angus Hastings
Board Member
 3 X           10,200 0 0
(17) Mark Hofer
Board Member
 15 X           24,600 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) Clarence Keller
Board Member
 8 X           5,400 0 7,800
(19) Robert Kretzschmar
Board Member
 3 X           5,508 0 3,600
(20) Donald Link
Board Member
 10 X           0 0 12,900
(21) Thomas Madsen
Board Member
 5 X           0 0 13,800
(22) Tom McQuiston
Board Member
 4 X           13,200 0 0
(23) Don McQuitty
Board Member
 4 X           12,600 0 0
(24) Michael Miller
Board Member
 1 X           0 0 0
(25) Galen Mills
Board Member
 4 X           0 0 15,000
(26) Russell Nielsen
Board Member
 4.7 X           10,200 0 0
(27) Christian Nygaard
Board Member
 3 X           3,600 0 0
(28) Robert Occhi
Board Member
 7 X           15,000 0 0
(29) Ronald Osterhout
Board Member
 6 X           14,100 0 0
(30) Max Ott
Board Member
 4 X           0 0 0
(31) Gail Paine
Board Member
 8.7 X           9,200 0 5,800
(32) Gary Potter
Board Member
 5 X           13,800 0 0
(33) Lanny Rodgers
Board Member
 6 X           13,850 0 4,600
(34) Perry Rubart
Board Member
 1 X           3,600 0 0
(35) Ronald Schwartau
Board Member
 5.7 X           500 0 19,350
(36) CB Sharp
Board Member
 8 X           13,200 0 0
(37) James Springs
Board Member
 3 X           16,278 0 0
(38) Ronald Springsteel
Board Member
 2 X           7,200 0 0
(39) M LaDon Torgersen
Board Member
 6.7 X           19,800 0 0
(40) Guadalupe Vega
Board Member
 5 X           7,800 0 0
(41) Carl Widdowson
Board Member
 2 X           3,600 0 0
(42) Bryan Wolfe
Board Member
 7 X           18,600 0 0
(43) Jack Wolfe Jr
Board Member
 1 X           7,200 0 0
(44) Curtis Wynn
Board Member
 4 X           16,200 0 0
(45) Gerald Anderson
Board Member
 6 X           11,400 0 0
(46) Lawrence Becker
Board Member
 5.7 X           11,700 0 0
(47) Michelle DaVia
Board Member
 2 X           10,800 0 0
(48) Daniel Dyer
Board Member
 2 X           10,200 0 0
(49) Eston Glover
Board Member
 1.7 X           13,200 0 0
(50) William Hart
Board Member
 5 X           15,450 0 0
(51) Kerry Kelton
Board Member
 2.7 X           12,600 0 0
(52) Meera Kohler
Board Member
 3.7 X           13,500 0 0
(53) Sam Nichols
Board Member
 7 X           9,600 0 0
(54) Keith Ross
Board Member
 2 X           10,800 0 0
(55) David Spradlin
Board Member
 3 X           9,600 0 0
(56) Michael Guidry
Vice-President
 11     X       30,600 0 0
(57) Curtis Nolan
Secretary-Treasurer
 9     X       27,900 0 0
(58) F E Wolski
President
 8     X       47,400 0 0
(59) Glenn L English
Exec Director/CEO
 40     X       1,530,263 0 107,634
(60) Patrick E Gioffre
Exec. VP, Internal Services
 53     X       594,822 0 454,757
(61) James Bausell
VP, Business Development
 48       X     241,839 0 93,892
(62) Peter Baxter
VP Insurance Programs
 56       X     273,671 0 62,336
(63) Stephen Guth
VP, Vendor Management
 50       X     315,737 0 49,847
(64) Lauren Haywood
VP, Marketing
 42       X     227,642 0 63,788
(65) Paul Hvidding
VP, Human Resources
 44       X     230,406 0 64,661
(66) Kirk Johnson
VP, Environmental Issues
 52       X     267,510 0 46,951
(67) Veneicia Lockhart
VP, Finance
 49       X     197,088 0 87,069
(68) Martin Lowery
Exec VP, External Affairs
 48       X     556,424 0 60,792
(69) Alexander McKelway
VP, Communications
 50       X     211,878 0 70,904
(70) Mary McLaury
VP, Education and Training
 46       X     224,608 0 106,795
(71) Peter Morris
VP and Chief Investment Officer
 41       X     1,781,444 0 55,272
(72) Stephen Sanker
VP Relationship Management
 54       X     239,252 0 81,967
(73) Monica Schmidt
VP National Consulting Group
 41       X     234,440 0 81,139
(74) Danielle Sieverling
VP, MAS CCO
 49       X     221,214 0 46,389
(75) Scott Spencer
Senior VP IFS
 54       X     352,897 0 142,726
(76) Thomas Stangroom
VP and CIO
 53       X     335,036 0 118,751
(77) Dena Stoner
VP Government Relations
 58       X     308,518 0 94,988
(78) John Wade
VP, Retirement Programs
 48       X     329,716 0 145,301
(79) Mark Ashton
Portfolio Manager
 40         X   390,646 0 70,873
(80) Prabha Carpenter
Sr Equity Research Analyst
 40         X   305,626 0 87,646
(81) Douglas Kern
Senior Fixed Income Portfolio Manager
 40         X   612,334 0 198,394
(82) Stuart Teach
Senior Equity Portfolio Manager
 41         X   624,639 0 98,869
(83) Patricia Murphy
Money Market Fund Manager
 41         X   252,915 0 85,738
(84) Milo Gilbertson
Former Director
 0           X 16,575 0 0
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 11,551,576 0 2,674,729
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet236
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
MODIS
Box 1020410
Atlanta,GA30368 		Consulting services 459,739
Miller Balis and ONeill PC
1015 15th Street NW
Washington DC,DC20005 		Legal services 387,998
Danielle Corbin
7400 Nathaniel Drive
Mount Airy,MD21771 		Magazine advertising sales 332,820
Ralph Graves Production
15914 Indianola Drive
Rockville,MD20855 		Convention services 296,681
Summit Group LLC
Division 30 8079 Solutions Center
Chicago,IL60677 		Marketing services and service awards 264,148
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet20
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a 0
b Membership dues....1b 0
c Fundraising events....1c 0
d Related organizations...1d 0
e Government grants (contributions)1e 0
f All other contributions, gifts, grants, and
similar amounts not included above1f 		250,000
g Noncash contributions included in lines 1a-1f:$ 0
h Total. Add lines 1a-1f.......MediumBullet 250,000
Program Service Revenue Business Code
2a Reimbursed costs - Plan & Sub Admin 524,292 81,602,115 81,602,115 0 0
b Training and professional services 541,900 7,855,009 7,855,009 0 0
c Magazine advertising 511,120 1,694,997 0 1,694,997 0
d Membership Dues 900,099 27,732,379 27,732,379 0 0
e Publication subscription income 511,120 1,453,614 1,453,614 0 0
f All other program service revenue . 8,224,510 8,224,510 0 0
g Total. Add lines 2a–2f........MediumBullet 128,562,624
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 36,407 36,407 0 0
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0 0 0 0
5 Royalties............MediumBullet 327,400 123,447 203,953 0
(i) Real (ii) Personal
6a Gross Rents 13,752,928 0
b Less: rental expenses 7,713,906 0
c Rental income or (loss) 6,039,022 0
d Net rental income or (loss).......MediumBullet 6,039,022 6,039,022 0 0
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory    
b Less: cost or other basis and sales expenses    
c Gain or (loss) 0 0
d Net gain or (loss)..........MediumBullet        
8a Gross income from fundraising events (not including
$ 0
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a Meetings and conferences 541,900 7,533,183 7,533,183 0 0
b            
c            
d All other revenue .... 0 0 0 0
e Total. Add lines 11a–11d ......MediumBullet 7,533,183
12 Total revenue. See Instructions....MediumBullet 142,748,636 140,599,686 1,898,950 0
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 0  
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 0  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 9,369,888      
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 54,058,541      
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 14,360,022      
9 Other employee benefits ....... 9,883,034      
10 Payroll taxes ........... 4,385,897      
11 Fees for services (non-employees):        
a Management ...... 531,693      
b Legal ......... 1,117,485      
c Accounting ........... 73,716      
d Lobbying ........... 604,230      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 9,623,618      
12 Advertising and promotion .... 475,301      
13 Office expenses ....... 3,730,624      
14 Information technology ...... 582,533      
15 Royalties .. 0      
16 Occupancy ........... 2,340,636      
17 Travel ............ 4,038,650      
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 3,727,092      
20 Interest ........... 462,820      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 5,136,130      
23 Insurance .............. 260,549      
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a Equipment maintenance 2,802,082      
b Research expenses 1,944,236      
c Printing 1,600,565      
d Contracted/temporary personnel 1,292,342      
e Unrelated business income taxes 102,275      
f All other expenses 3,804,903      
25 Total functional expenses. Add lines 1 through 24f 136,308,862 0 0 0
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 0 1  
2 Savings and temporary cash investments ....... 3,364,964 2 16,950,342
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 29,614,164 4 24,935,506
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net ............. 1,246,362 7 2,444,505
8 Inventories for sale or use .............. 51,356 8 228,967
9 Prepaid expenses and deferred charges ............ 6,694,331 9 21,002,618
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 140,374,203
b Less: accumulated depreciation. ..... 10b 45,933,422 96,635,236 10c 94,440,781
11 Investments—publicly traded securities .......... 122,863 11 129,897
12 Investments—other securities. See Part IV, line 11 ...... 12,667,547 12 13,009,534
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets .........   14  
15 Other assets. See Part IV, line 11 ........... 11,584,658 15 12,835,837
16 Total assets. Add lines 1 through 15 (must equal line 34)... 161,981,481 16 185,977,987
Liabilities 17 Accounts payable and accrued expenses . 15,927,807 17 15,557,017
18 Grants payable .......... 0 18 0
19 Deferred revenue .......... 19,302,566 19 34,689,648
20 Tax-exempt bond liabilities ..........   20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 133,369 21 302,101
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties .. 9,127,744 23 8,888,383
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 42,655,278 25 44,922,980
26 Total liabilities. Add lines 17 through 25..... 87,146,764 26 104,360,129
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .....   27  
28 Temporarily restricted net assets .....   28  
29 Permanently restricted net assets .....   29  
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ..... 0 30 0
31 Paid-in or capital surplus, or land, building or equipment fund ..... 0 31 0
32 Retained earnings, endowment, accumulated income, or other funds 74,834,717 32 81,617,858
33 Total net assets or fund balances ..... 74,834,717 33 81,617,858
34 Total liabilities and net assets/fund balances ..... 161,981,481 34 185,977,987
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
142,748,636
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
136,308,862
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
6,439,774
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
74,834,717
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
343,367
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
81,617,858
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
Yes
 
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
Yes
 
Form 990 (2010)
Additional Data


Software ID: 10000077
Software Version: v1.00
Form 990, Special Condition Description:
Special Condition Description
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
OMB No. 1545-0047
2010
Name of organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule—
Special Rules
......................... Arrow Bullet   $    
Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2 of its Form 990, or check the box in the heading of its
Form 990-EZ, or on line 2 of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part I
Name of organization
NATIONAL RURAL ELECTRIC COOPERATIVE
  		Employer identification number

53-0116145
Part I
Contributors (see Instructions)
     
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

     
RESTRICTED
RESTRICTED  
RESTRICTED, RESTRICTED   RESTRICTED

$RESTRICTED




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Aggregate contributions		 (d)
Type of contribution
 
 
 

     
 
   

$  




(Complete Part II if there is
a noncash contribution.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part II
Name of organization
NATIONAL RURAL ELECTRIC COOPERATIVE
  		Employer identification number

53-0116145
Part II
Noncash Property (see Instructions)
     
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Schedule B (Form 990, 990-EZ, or 990-PF) (2010)
Page 1 of 1 of Part III
Name of organization
NATIONAL RURAL ELECTRIC COOPERATIVE
  		Employer identification number

53-0116145
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
aggregating more than $1,000 for the year. (Complete columns (a) through (e) and the following line entry.)
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
(a) No.
from
Part I		 (b)
Purpose of gift		 (c)
Use of gift		 (d)
Description of how gift is held
 
(e)
Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
       
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2010)

Additional Data


Software ID: 10000077
Software Version: v1.00
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.
SchCMd Bullet Attach to Form 990 or Form 990-EZ. SchCMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
If the organization answered “Yes,” to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered “Yes,” to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)) Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered “Yes,” to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, Part V, line 35a (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization's direct and indirect political campaign activities on behalf of or in opposition to candidates for public office in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c) except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt funtion activities ....................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2010

Schedule C (Form 990 or 990-EZ) 2010
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check
B Check
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
Organization's
Totals 		(b) Affiliated Group
Totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
  If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:    
  Not over $500,00020% of the amount on line 1e.    
  Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.    
  Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.    
  Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.    
  Over $17,000,000$1,000,000.    
       
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
  Calendar year (or fiscal year
beginning in) 		(a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) Total
             
2a Lobbying non-taxable amount          
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		         
             
c Total lobbying expenditures          
             
d Grassroots non-taxable amount          
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		          
             
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2010


Schedule C (Form 990 or 990-EZ) 2010
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
 
c
Media advertisements? ....................................
 
 
 
d
Mailings to members, legislators, or the public? .........................
 
 
 
e
Publications, or published or broadcast statements? .......................
 
 
 
f
Grants to other organizations for lobbying purposes? .......................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
 
 
i
Other activities? If "Yes," describe in Part IV ..........................
 
 
 
j
Total. lines 1c through 1i ...................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
No
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
No
3
Did the organization agree to carryover lobbying and political expenditures from the prior year? ..........
3
Yes
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) if BOTH Part III-A, lines 1 and 2 are answered “No” OR if Part III-A, line 3 is answered “Yes”.
1
Dues, assessments and similar amounts from members .....................
1
27,732,379
2
Section 162(e) non-deductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
3,835,000
b
Carryover from last year ....................................
2b
0
c
Total ...........................................
2c
3,835,000
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
5,546,476
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
0
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
-1,711,476
Part IV
Supplemental Information
Complete this part to provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; and Part ll-B, line 1i.
Also, complete this part for any additional information.
Identifier Return Reference Explanation
Schedule C (Form 990 or 990EZ) 2010

Additional Data


Software ID: 10000077
Software Version: v1.00

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ................. 0 10,809,143 10,809,143
b Buildings ................ 0 83,216,959 19,349,696 63,867,263
c Leasehold improvements ............ 0 12,864,705 4,979,334 7,885,371
d Equipment ................ 0 33,483,396 21,604,392 11,879,004
e Other ................. 0 0 0 0
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 94,440,781
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests 12,182,227 C
(3)Other
(A) Capital Term Certificates 		827,307 C








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet 13,009,534
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1) Deferred PSA expense 1,670,645
(2) Patronage Capital Certificates 352,412
(3) Deferred Compensation Fund (employees) 8,205,505
(4) Tenant Escrow 133,619
(5) Employee and Executive Option Purhcase Plan 2,473,656




Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 12,835,837
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes  
Post retirement beenfits other than pensions 29,566,510
Deferred Compensation Fund (employees) 8,205,505
Employee and Executive Option Purchase Plan 2,469,077
Cooperative Research Network restricted funds 4,560,457
Other restricted funds and miscellaneous 121,431




Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 44,922,980
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 142,748,636
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 136,308,862
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 6,439,774
4 Net unrealized gains (losses) on investments .......................... 4 0
5 Donated services and use of facilities ............................. 5 0
6 Investment expenses ................................... 6 0
7 Prior period adjustments .................................. 7 0
8 Other (Describe in Part XIV) ................................. 8 343,367
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 343,367
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 6,783,141
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 179,839,636
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 0
b Donated services and use of facilities ......... 2b 0
c Recoveries of prior year grants ........... 2c 0
d Other (Describe in Part XIV): ............ 2d 37,091,000
e Add lines 2a through 2d ..................... 2e 37,091,000
3 Subtract line 2e from line 1..................... 3 142,748,636
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a 0
b Other (Describe in Part XIV): ........... 4b 0
c Add lines 4a and 4b....................... 4c 0
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 142,748,636
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 173,056,496
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a 0
b Prior year adjustments .............. 2b 0
c Other losses ................ 2c 0
d Other (Describe in Part XIV): ............ 2d 36,747,634
e Add lines 2a through 2d...................... 2e 36,747,634
3 Subtract line 2e from line 1..................... 3 136,308,862
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a 0
b Other (Describe in Part XIV): ............ 4b 0
c Add lines 4a and 4b....................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 136,308,862
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
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.
Schedule D (Form 990) 2010

Additional Data


Software ID: 10000077
Software Version: v1.00




Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
 
No
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
Yes
 
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
 
b
Any related organization? .........................
5b
 
 
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
 
b
Any related organization? .........................
6b
 
 
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
 
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) Mark Ashton (i)
(ii)		 263,810
0 		117,140
0 		9,696
0 		59,145
0 		11,728
0 		461,519
0 		0
0
(2) James Bausell (i)
(ii)		 232,384
0 		7,205
0 		2,250
0 		71,859
0 		22,033
0 		335,731
0 		0
0
(3) Peter Baxter (i)
(ii)		 266,752
0 		5,484
0 		1,435
0 		30,976
0 		31,360
0 		336,007
0 		0
0
(4) Prabha Carpenter (i)
(ii)		 215,995
0 		87,474
0 		2,157
0 		65,970
0 		21,676
0 		393,272
0 		0
0
(5) Glenn L English (i)
(ii)		 1,112,153
0 		100
0 		418,010
0 		84,050
0 		23,584
0 		1,637,897
0 		0
0
(6) Patrick E Gioffre (i)
(ii)		 540,208
0 		29,545
0 		25,069
0 		431,238
0 		23,519
0 		1,049,579
0 		0
0
(7) Stephen Guth (i)
(ii)		 299,424
0 		9,234
0 		7,079
0 		47,826
0 		2,021
0 		365,584
0 		0
0
(8) Lauren Haywood (i)
(ii)		 222,480
0 		4,406
0 		756
0 		40,468
0 		23,320
0 		291,430
0 		0
0
(9) Paul Hvidding (i)
(ii)		 217,649
0 		7,205
0 		5,552
0 		62,099
0 		2,562
0 		295,067
0 		0
0
(10) Kirk Johnson (i)
(ii)		 255,215
0 		8,984
0 		3,311
0 		42,000
0 		4,951
0 		314,461
0 		0
0
(11) Douglas Kern (i)
(ii)		 285,701
0 		320,233
0 		6,400
0 		167,434
0 		31,260
0 		811,028
0 		0
0
(12) Veneicia Lockhart (i)
(ii)		 187,895
0 		8,205
0 		988
0 		61,991
0 		25,078
0 		284,157
0 		0
0
(13) Martin Lowery (i)
(ii)		 406,029
0 		13,980
0 		136,415
0 		36,775
0 		24,017
0 		617,216
0 		0
0
(14) Alexander McKelway (i)
(ii)		 206,810
0 		4,406
0 		662
0 		59,090
0 		11,814
0 		282,782
0 		0
0
(15) Mary McLaury (i)
(ii)		 215,329
0 		7,205
0 		2,074
0 		84,831
0 		21,964
0 		331,403
0 		0
0
(16) Peter Morris (i)
(ii)		 485,352
0 		498,758
0 		797,334
0 		27,292
0 		27,980
0 		1,836,716
0 		0
0
(17) Patricia Murphy (i)
(ii)		 196,132
0 		54,969
0 		1,814
0 		65,793
0 		19,945
0 		338,653
0 		0
0
(18) Stephen Sanker (i)
(ii)		 228,029
0 		8,984
0 		2,239
0 		55,804
0 		26,163
0 		321,219
0 		0
0
(19) Monica Schmidt (i)
(ii)		 228,171
0 		5,484
0 		785
0 		61,373
0 		19,766
0 		315,579
0 		0
0
(20) Danielle Sieverling (i)
(ii)		 211,171
0 		7,205
0 		2,838
0 		37,902
0 		8,487
0 		267,603
0 		0
0
(21) Scott Spencer (i)
(ii)		 332,802
0 		8,512
0 		11,583
0 		111,398
0 		31,328
0 		495,623
0 		0
0
(22) Thomas Stangroom (i)
(ii)		 316,802
0 		11,205
0 		7,029
0 		87,196
0 		31,555
0 		453,787
0 		0
0
(23) Dena Stoner (i)
(ii)		 272,624
0 		5,484
0 		30,410
0 		91,401
0 		3,587
0 		403,506
0 		0
0
(24) Stuart Teach (i)
(ii)		 391,512
0 		175,660
0 		57,467
0 		73,062
0 		25,807
0 		723,508
0 		0
0
(25) John Wade (i)
(ii)		 263,363
0 		8,984
0 		57,369
0 		126,893
0 		18,408
0 		475,017
0 		0
0
(26) Milo Gilbertson (i)
(ii)		 0
0 		0
0 		0
0 		16,575
0 		0
0 		16,575
0 		0
0
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
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).
Schedule J (Form 990) 2010

Additional Data


Software ID: 10000077
Software Version: v1.00
Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V lines 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBulletSee separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501 (c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Description of transaction (c) Corrected?
Yes No





2
Enter the amount of tax imposed on the organization managers or disqualified persons during the year under section 4958. ......................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 26, or Form 990-EZ, Part V, line 38a.
(a) Name of interested person and purpose (b) Loan to or from the organization? (c)Original principal amount (d)Balance due (e) In default? (f) Approved by board or committee? (g)Written agreement?
To From Yes No Yes No Yes No
Total ...............Small Bullet $  
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b)Relationship between interested person and the organization (c)Amount of grant or type of assistance
For Privacy Act and Paperwork Reduction Act Notice, see the
Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2010
Schedule L (Form 990 or 990-EZ) 2010
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) Cooperative Energy Services
  		For profit subsidiary - 2 officers, 2 key employees serve as officers and board members of CES 140,644 Administrative services agreement   No
(2) RE Advisors Corporation and RE Investment Corporation
  		For profit subsidiary - 4 key employees serve as officers and directors of REA/REI 6,460,868 Royalty payments and administrative services agreement   No
(3) Cooperative Benefit Administrators
  		For profit subsidiary - 1 officer, 1 directors 2 key employees serve as officers and directors of CB 16,947,589 Administrative services agreement   No
(4) Electric Cooperative Life Insurance
  		For profit subsidiary - 1 officer, 7 directors, 2 key employee serve as officers and directors 63,230 Administrative services agreement   No
(5) NRECA United
  		For profit subsidiary - 2 officers, 1 key employee serve as United officers 306 Expense reimbursement   No
(6) Cooperative Insurance Services
  		For profit subsidiary - 1 officers, 7 directors, 2 key employees serve as CIS officers/directors 115,361 Administrative services agreement   No
(7) Arkansas Electric Co-op Corporation
  		For profit member of NRECA with one shared director 847,414 Various Services provided to member   No
(8) Associated Electric Cooperative
  		For profit member of NRECA with one shared director 3,249,586 Various Services provided to member   No
(9) Western Farmers Electric Cooperative
  		For profit member of NRECA with one shared director 284,288 Various Services provided to member   No
Part V
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule L (see instructions).
Identifier Return Reference Explanation
Schedule L (Form 990 or 990-EZ) 2010

Additional Data


Software ID: 10000077
Software Version: v1.00




SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Identifier Return Reference Explanation
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
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


Software ID: 10000077
Software Version: v1.00
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
NATIONAL RURAL ELECTRIC COOPERATIVE
 
Employer identification number

53-0116145
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity

















Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) NRECA International Foundation

4301 Wilson Blvd

Arlington,VA22203
52-1409279 		Charitable activities VA 501c3 509(a)(c) Type II NRECA
 
Yes
 
(2) NRECA International LTD

4301 Wilson Blvd

Arlington,VA22203
52-1387851 		Intl rural electric VA 501c6   NRECA
 
Yes
 
(3) Fundacion Energetica Boliviana

4301 Wilson Blvd

Arlington,VA22203
 Bolivian rural electrification BL N/A   NRECA
 
Yes
 
(4) NRECA Wood Quality Control Inc

4301 Wilson Blvd

Arlington,VA22203
52-1446660 		Wood pole testing VA 501c6   NRECA
 
Yes
 






For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership
(1) Cooperative Insurance Services
4301 Wilson Blvd
Arlington,VA22203
52-1076274 		Insurance agent VA NRECA United
  		C 121,829 554,480 100 %
(2) Electric Cooperative Life Insurance Co
4301 Wilson Blvd
Arlington,VA22203
86-0262046 		Life and hospitalization insurance VA NRECA
  		C 74,111 1,945,237 100 %
(3) Cooperative Benefit Administrators
4301 Wilson Blvd
Arlington,VA22203
52-1327041 		Claims administrator VA NRECA United
  		C 17,555,094 3,377,748 100 %
(4) Cooperative Energy Services
4301 Wilson Blvd
Arlington,VA22203
52-1490710 		Market research VA NRECA United
  		C 140,644 0 100 %
(5) RE Investment Inc
4301 Wilson Blvd
Arlington,VA22203
52-1679315 		Investment broker VA NRECA United
  		C 0 0 0 %
(6) RE Advisers Inc
4301 Wilson Blvd
Arlington,VA22203
52-1694000 		Investment adviser VA RE Investment Inc
  		C 6,888,971 6,541,196 100 %
(7) NRECA United Inc
4301 Wilson Blvd
Arlington,VA22203
52-1765915 		Holding company VA ELCO
  		C 0 196,688 100 %
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
 
No
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
Yes
 
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
 
No
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) NRECA International Foundation

 k 58,282 Accounting records
(2) NRECA International Foundation

 m 5,339 Accounting records
(3) NRECA International Foundation

 p 526,496 Accounting records
(4) NRECA International LTD

 k 594,521 Accounting records
(5) NRECA International LTD

 m 96,707 Accounting records
(6) NRECA International LTD

 p 4,783,952 Accounting records
(7) NRECA Wood Quality Control Inc

 k 103,190 Accounting records
(8) NRECA Wood Quality Control Inc

 p 1,274,331 Accounting records
(9) NRECA Wood Quality Control Inc

 n 467,327 Accounting records
(10) Cooperative Insurance Services

 k 85,000 Accounting records
(11) Cooperative Insurance Services

 p 30,361 Accounting records
(12) Electric Cooperative Life Insurance Co

 k 15,000 Accounting records
(13) Electric Cooperative Life Insurance Co

 p 48,230 Accounting records
(14) Cooperative Benefit Administrators

 k 6,409,394 Accounting records
(15) Cooperative Benefit Administrators

 m 756,206 Accounting Records
(16) Cooperative Benefit Administrators

 n 7,675,576 Accounting records
(17) Cooperative Benefit Administrators

 p 2,106,413 Accounting records
(18) Cooperative Energy Services

 p 140,644 Accounting records
(19) RE Investment Inc

 a-iii 203,953 Accounting records
(20) RE Investment Inc

 k 933,531 Accounting records
(21) RE Investment Inc

 p 786,004 Accounting records
(22) RE Advisers Inc

 k 2,760,236 Accounting records
(23) RE Advisers Inc

 p 1,436,944 Accounting records
(24) RE Advisers Inc

 n 340,200 Accounting Records
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


Software ID: 10000077
Software Version: v1.00