TIN:
SCHEDULE O
(Form 990)
Department of the Treasury
Internal Revenue Service
(Form 990)
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 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Inspection
Name of the organization
YAMPA VALLEY ELECTRIC ASSOCIATION
Employer identification number
84-0358317
84-0358317
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE ASSOCIATION HAS 9 BOARD MEMBERS; ALL 9 ARE ALLOWED TO VOTE. |
| FORM 990, PART VI, SECTION A, LINE 4 | DURING THE YEAR, THE COOPERATIVE'S BYLAWS WERE AMENDED. THE FOLLOWING IS A SUMMARY OF THE CHANGES: ARTICLE 1. MEMBERS. SECTION 1. QUALIFICATIONS AND OBLIGATIONS. CHANGED TO STATE THAT ANY PERSON OR ENTITY MAY BECOME A MEMBER UPON APPROVAL BY THE BOARD. ALSO CHANGED THE TERM "ASSOCIATION" TO "COOPERATIVE AND "CERTIFICATE" TO "ARTICLES" THROUGHOUT THE BYLAWS. SECTION 3. PURCHASE OF ENERGY, GOODS, AND SERVICES. THE FOLLOWING SENTENCE WAS DELETED, "IT IS EXPRESSLY UNDERSTOOD THAT AMOUNTS PAID FOR ELECTRIC ENERGY IN EXCESS OF THE COST OF SERVICE ARE FURNISHED BY MEMBERS AS CAPITAL AND EACH MEMBER SHALL BE CREDITED WITH THE CAPITAL FURNISHED AS PROVIDED IN THESE BYLAWS." SECTION 5. TERMINATION OF MEMBERSHIP. THE FOLLOWING PARAGRAPH WAS ADDED, "THE MEMBERSHIP OF A MEMBER WILL TERMINATE (I) WHEN SUCH MEMBER HAS NOT PURCHASED ELECTRIC ENERGY FROM THE COOPERATIVE FOR A PERIOD OF THREE CONSECUTIVE MONTHS AFTER ELECTRIC ENERGY IS AVAILABLE; (II) WHEN SUCH MEMBER CEASES TO PURCHASE ELECTRIC ENERGY FROM THE COOPERATIVE FOR A PERIOD OF THREE CONSECUTIVE MONTHS; OR (III) UPON THE WITHDRAWAL, DEATH, CESSATION OF EXISTENCE OR EXPULSION OF SUCH MEMBER. UPON TERMINATION OF MEMBERSHIP, THE MEMBERSHIP CERTIFICATE OF SUCH MEMBER SHALL BE SURRENDERED FORTHWITH TO THE COOPERATIVE AND THE MEMBERSHIP FEE REFUNDED OR OFFSET AGAINST DEBTS DUE THE COOPERATIVE." SECTION 6. UNCLAIMED PROPERTY. UNCLAIMED FUNDS, EXCLUDING RETIRED PATRONAGE CAPITAL CREDITS GOVERNED BY ARTICLE VIII, SECTION 7, WHICH HAVE BEEN OUTSTANDING FOR AT LEAST SIX MONTHS AFTER BEING MAILED ARE DEEMED ABANDONED AND ASSIGNED TO THE COOPERATIVE. SECTION 7. TRANSFER AND TERMINATION OF MEMBERSHIP. ADDRESSES THE TRANSFER OR TERMINATION OF A JOINT MEMBERSHIP AS AGREED UPON BETWEEN THE TWO PARTIES. PREVIOUS SECTION 7. DIRECTOR DISCIPLINE AND REMOVAL WAS DELETED FROM ARTICLE 1 AND A REVISED SECTION WAS ADDED TO ARTICLE III. SECTION 8. PROPERTY INTEREST OF MEMBERS. STATES THAT UPON DISSOLUTION OF THE COOPERATIVE AFTER ALL DEBTS AND LIABILITIES ARE PAID, THE REMAINING PROPERTY WILL BE DISTRIBUTED AMONG THE MEMBERS AND FORMER MEMBERS BY PROPORTION OF AGGREGATE PATRONAGE DURING THE TEN YEARS PRECEDING THE DATE OF FILING THE CERTIFICATE OF DISSOLUTION. ARTICLE II. MEETINGS OF MEMBERS. SECTION 1. ANNUAL MEETING. UPDATED TO INCLUDE THE NOTICE REQUIREMENTS TO MEMBERS FOR THE ANNUAL MEETING. SECTION 2. SPECIAL MEETINGS. UPDATED THE CONDITIONS FOR CALLING A SPECIAL MEETING ALONG WITH NOTICE REQUIREMENTS FOR SAID MEETING. SECTION 3. NOTICE OF MEMBERS' MEETING WAS MOVED TO SECTIONS 1 AND 2. SECTION 3 IS NOW QUORUM. ARTICLE III. DIRECTORS. SECTION 5. DIRECTOR DISCIPLINE AND REMOVAL. 5.1 ACTION BY THE BOARD OF DIRECTORS (A) DIRECTOR DISCIPLINE AND (B) REMOVAL BY THE BOARD ARE THE PARAGRAPHS MOVED FROM ARTICLE I, SECTION 7. PARAGRAPH (C) CAUSE DEFINED WAS ADDED AND STATES, CAUSE INCLUDES: (I) A CONVICTION OR JUDICIAL DETERMINATION INVOLVING A FELONY CRIME AFTER ELECTION AS A DIRECTOR; (II) BECOMING INELIGIBLE TO SERVE AS A DIRECTOR DUE TO FAILING TO MEET THE QUALIFICATIONS SET FORTH IN ARTICLE III SECTION 2; (III) VIOLATION OF A DIRECTOR'S FIDUCIARY DUTY DURING HIS OR HER SERVICE AS A DIRECTOR; (IV) A VIOLATION OF BOARD POLICY; (V) FINDING THAT REMOVAL IS PROPER FOLLOWING THE PROCESS SET FORTH IN SECTION 5.1(A); OR (VI) UNACCEPTABLE PERSONAL CONDUCT BRINGING DISREPUTE OR DISPARAGEMENT TO THE COOPERATIVE. 5.2 ACTION BY MEMBERS STATES THAT ANY MEMBER MAY BRING CHARGES AGAINST A DIRECTOR WITH A SIGNED PETITION BY 10% OF THE MEMBERS AND REQUEST THE REMOVAL OF SAID DIRECTOR. THE REMOVAL SHALL BE VOTED UPON IN THE MANNER PROVIDED IN ARTICLE III SECTION 4. ARTICLE VIII. NON-PROFIT OPERATION. SECTION 1. THE TERM "PATRONS" WAS REPLACED WITH "MEMBERS." SECTION 2. RENAMED "PATRONAGE OBLIGATION FOR ELECTRIC AND OTHER PATRONAGE SERVICES." THE PATRONS OF THE COOPERATIVE, BY DEALING WITH THE COOPERATIVE, ACKNOWLEDGE THAT THE TERMS AND PROVISIONS OF THESE BYLAWS RELATED TO THE RIGHTS AND OBLIGATIONS OF PATRONS SHALL CONSTITUTE AND BE A CONTRACT BETWEEN THE COOPERATIVE AND EACH PATRON. THE TERM "PATRON" MEANS A FORMER MEMBER OR CURRENT MEMBER RECEIVING SERVICES OR GOODS FROM THE COOPERATIVE AND TO WHOM THE COOPERATIVE IS OBLIGATED TO ALLOCATE CAPITAL CREDITS. SECTION 3. CAPITAL CREDITS IN CONNECTION WITH FURNISHING ELECTRIC AND OTHER PATRONAGE SERVICES. NEW PARAGRAPH (B) WAS ADDED TO STATE THAT IF COSTS AND EXPENSES EXCEED PATRONAGE OPERATING MARGINS, CREATING AN OPERATING LOSS, THE COOPERATIVE MAY, SO FAR AS PERMITTED BY LAW AND LOAN COVENANTS, AND IN THE BOARD'S DISCRETION: (I) OFFSET THE LOSS AGAINST EXISTING CAPITAL CREDITS BASED ON PATRONAGE DURING THE LOSS YEAR; (II) OFFSET THE LOSS AGAINST NET MARGINS FROM NON-PATRONAGE BUSINESS AS PROVIDED IN SECTION 4 OF THIS ARTICLE VIII; (II) CARRY THE LOSS FORWARD TO OFFSET FUTURE ALLOCATIONS OF CAPITAL CREDITS; (III) OFFSET THE LOSS AGAINST A RESERVE OR SIMILAR AMOUNT OR ACCOUNT; (IV) ASSESS THE LOSS IN ACCORDANCE WITH CONTRACTUAL PROVISIONS BETWEEN A PATRON AND THE COOPERATIVE; OR (V) ACCOUNT FOR THE LOSS IN SOME COMBINATION OF ONE OR MORE METHODS DESCRIBED. PARAGRAPHS (D) THROUGH (G) STATE THE MANNER BY WHICH THE BOARD MAY ALLOCATE AND RETIRE CAPITAL CREDITS. SECTION 4. NET MARGINS FROM NON-PATRONAGE BUSINESS. THIS PARAGRAPH WAS CHANGED TO STATE THAT SUCH MARGINS CAN BE RETAINED AS RESERVES OR TO THE EXTENT NOT NEEDED FOR THE PURPOSES LISTED, ALLOCATED TO ITS PATRONS BUT SUCH ALLOCATIONS SHALL ONLY INCLUDE MARGINS TO THE EXTENT CASH OR PROPERTY HAS BEEN RECEIVED. SECTION 5. RETIREMENT OF CAPITAL CREDITS. REVISED TO STATE THAT THE BOARD OF DIRECTORS SHALL HAVE THE AUTHORITY TO RETIRE CAPITAL CREDITS OF CLASSES OF SIMILARLY SITUATED PATRONS IN A DIFFERENT MANNER, METHOD, AND TIMING THAN OTHER CLASSES. PARAGRAPH (E ) WAS ADDED ALLOWING THE COOPERATIVE TO OFFSET AGAINST CAPITAL CREDITS ANY AMOUNT OWED TO THE COOPERATIVE BY A PATRON. SECTION 6. ASSIGNMENT OF CAPITAL CREDITS. REVISED TO STATE THAT CAPITAL CREDITED TO THE ACCOUNT OF EACH PATRON SHALL BE ASSIGNABLE ONLY ON THE BOOKS OF THE COOPERATIVE PURSUANT TO WRITTEN INSTRUCTION FROM THE ASSIGNOR AND ONLY TO SUCCESSORS IN INTEREST OR SUCCESSORS IN OCCUPANCY IN ALL OR PART OF PREMISES SERVED BY THE COOPERATIVE. SECTION 7. UNCLAIMED CAPITAL CREDITS. THIS SECTION PERMITS THE COOPERATIVE TO IMPOSE AN ANNUAL ADMINISTRATION FEE ON THE UNCLAIMED CAPITAL CREDITS OF PATRONS WHO FAIL TO CLAIM OR NEGOTIATE PAYMENT OF RETIRED CAPITAL CREDITS FOR MORE THAN ONE YEAR AFTER THE REFUND WAS MAILED, IN THE AMOUNT OF $5.00 PER YEAR. SAID ANNUAL ADMINISTRATION FEE SHALL BE A SETOFF AGAINST THE UNCLAIMED CAPITAL CREDITS AND SHALL BE CREDITED ANNUALLY TO THE COOPERATIVE IN REDUCTION OF THE UNCLAIMED CAPITAL CREDITS. PRIOR SECTIONS RELATED TO PATRONAGE REFUNDS IN CONNECTION WITH FURNISHING OTHER SERVICES AND ADMINISTRATION SERVICES CHARGES WERE DELETED. SECTION 8. SECURITY INTERESTS AND CREDIT SUPPORT. THIS SECTION STATES THAT IF THE BOARD OF DIRECTORS DETERMINES THAT THE COST OF INITIATING OR CONTINUING SERVICE FOR A PATRON JUSTIFIES ADDITIONAL SECURITY TO PROTECT THE FINANCIAL INTERESTS OF THE COOPERATIVE, THEN AS A CONDITION TO INITIATE OR CONTINUE SERVICE, THE COOPERATIVE MAY REQUIRE SUCH PATRON TO EXECUTE A SECURITY AGREEMENT THAT GRANTS THE COOPERATIVE A SECURITY INTEREST IN SUCH PATRON'S CAPITAL CREDITS. ARTICLE XIV. AMENDMENTS. SECTION 1. AMENDING THE BYLAWS "BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE MEMBERS PRESENT AT ANY REGULAR OR SPECIAL MEETING OF THE MEMBERS" WAS DELETED FROM THIS SECTION. SECTION 2 WAS DELETED WHICH STATED THAT THE BYLAWS COULD NOT BE AMENDED BY THE ACT OF THE BOARD OF DIRECTORS ALONE. SECTION 3. REVISIONS STATE THAT THE BOARD MAY ALSO SPONSOR OR PROPOSE AMENDMENTS TO THE BYLAWS TO BE SUBMITTED TO A VOTE OF THE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE ASSOCIATION WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE ASSOCIATION VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE ASSOCIATION: 1. DISSOLUTION/LIQUIDATION OF THE ASSOCIATION 2. MERGER OR CONSOLIDATION OF THE ASSOCIATION WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE ASSOCIATION'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ASSOCIATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PROVIDED A COPY OF THE RETURN TO THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS PERFORM AN ANNUAL REVIEW AND UTILIZE INTERNAL RESOURCES AS WELL AS THE FORM 990 FROM OTHER ORGANIZATIONS WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE GENERAL MANAGER UTILIZES INTERNAL RESOURCES AS WELL AS A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ASSOCIATION WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE ASSOCIATION PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE ASSOCIATION WITH THE ANNUAL REPORT. ADDITIONALLY, A COMPLETE COPY OF THE BYLAWS ARE LOCATED ON THE COOPERATIVE'S WEBSITE. HTTPS://WWW.YVEA.COM/YVEA-BYLAWS |
| FORM 990, PART VII, COLUMN F: | IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE ASSOCIATION HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE ASSOCIATION PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING EMPLOYEE OFFICERS AND HIGLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE ASSOCIATION ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES, INCLUDING EMPLOYEE OFFICERS AND HIGLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. |
| FORM 990, PART VIII, LINE 2: | PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE ASSOCIATION TO ITS MEMBERS. |
| FORM 990, PART IX: | ALTHOUGH NO LONGER A USDA RURAL UTILITIES SERVICE (RUS) BORROWER, THE ACCOUNTING RECORDS OF THE ASSOCIATION ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. |
| FORM 990, PART IX, LINE 4: | PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE ASSOCIATION ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE ASSOCIATION'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE ASSOCIATION OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE ASSOCIATION'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE ASSOCIATION FOR THE 2022 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE ASSOCIATION OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE ASSOCIATION HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. |
| FORM 990, PART IX, LINES 5-7: | SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 9,878,501 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (139,846) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (725,529) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 8,464 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,691,591 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 556,676 TOTAL WAGES ACCRUED AND/OR PAID $11,269,857 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,916,682 EMPLOYEE TRAINING & BENEFITS 858,184 OFFICE SUPPLIES 595,768 OUTSIDE SERVICES 1,066,275 INJURIES & DAMAGES 351,048 INSURANCE & REGULATORY FEES 76,882 PUBLIC RELATIONS 48,847 DUES & SUBSCRIPTIONS 167,797 DIRECTORS 197,092 MAINTENANCE OF GENERAL PLANT 889,045 MISCELLANEOUS GENERAL 117,315 LUMINATE FIBER ADMIN & GENERAL 1,458,955 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 8,743,890 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (139,846) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (4,457,972) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,619,204) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 2,526,868 |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: COST OF SALES OF FIBER $ 1,654,780 MERCHANDISING EXPENSES 107,557 PROVISION FOR INCOME TAX EXPENSE (BENEFIT) (428,536) SALES 175,179 TRANSMISSION 262,560 UNCLAIMED PROPERTY ADVERTISING 3,015 OTHER DEDUCTIONS 197,115 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 1,971,670 |
| FORM 990, PART XI, LINE 9: | PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 926,346. DONATED CAPITAL 1,348. PATRONAGE CAPITAL RETIRED - TOTAL -4,258,349. PATRONAGE CAPITAL RETIRED - DISCOUNT 29,360. LUMINATE FIBER SALES - UBI TAX BASIS OF CONSTRUCTION GRANTS -402,413. LUMINATE FIBER SALES - UBI TAX BASIS OF CONTRIBUTION IN AID OF CONSTRUCTION -28,284. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021
Additional Data
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