| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Section A, Line 6 | There is only one class of membership for all cooperative members. |
| Form 990, Part VI, Section A, Line 7a | The cooperative is governed by a nine member board of directors. The Board of Directors appoints a nominating committee in each operating district of the cooperative. The names of the members of the nominating committee are published in local media in each district in a press release that includes the general qualifications to become a board member. In addition to those nominated by the committtee, members can be placed on the ballot if a petition is presented to the Board of Directors that contains 50 signatures of members (subject to time limitations as outlined in the bylaws of the cooperative).The directors serve three year terms. Ballots are mailed to all members prior to the annual meeting and are counted at the meeting. |
| Form 990, Part VI, Section A, Line 7b | The Board of Directors are elected by the members of the cooperative. All changes in bylaws or a sale of the cooperative requires a vote of the membership. |
| Form 990, Part VI, Section B, Line 11b | The Form 990 is reconciled to the audited financial statements for the year. The answers to the governance, management policies, gross revenue test and compensation sections are reviewed in detail. |
| Form 990, Part VI, Section B, Line 12c | The cooperative has a board policy whereby each board member is required annually to complete a detailed disclosure statement and certification of compliance with the Conflict of Interest Policy. If any board member has a conflict with an issue, before the item is discussed, the board member leaves the meeting.Officers and Key Employees complete a detailed checklist annually documenting potential conflicts of interest, if any. |
| Form 990, Part VI, Section B, Line 15b | OTEC has had a compensation study completed by industry consultants that is updated annually. The consultant works with the Human Resourses Department to update job descriptions and job duties prior to the consultant updating the study.The Board of Directors has a compensation committee that is responsible for making a recommendation to the entire Board of Directors for adjustments to the CEO's compensation. As a part of the process, the Board of Directors set annual goals for the CEO. Based on those goals, the compensation committee prepares a performance review on which any pay adjustment is based.All employees have annual performance reviews prepared during the annual compensation adjustment process. The performance appraisals and compensation study are utilized in determining annual adjustments to Officers and Key Employees. |
| Form 990, Part VI, Section C, Line 19 | The Form 990 is available on Guidestar.org. Condensed financial statements are published in Ruralite Magazine prior to OTEC'S annual meeting every spring. Selected policies are available on the cooperative's website at OTEC.coop, additionally, policies may be obtained by coming into the Headquarters office. |
| Form 990, Part XI, Line 9 | Current Year net Operating Margins Allocated = $9345091 |
| Form 990, Part XI, Line 9 | Decedent Retirement Discounts = $171519 |
| Form 990, Part XI, Line 9 | Decrease in Memberships and Donated Capital = -$0 |
| Form 990, Part XI, Line 9 | Increase in Memberships and Donated Capital = $1 |
| Form 990, Part XI, Line 9 | Retirement of Patronage Capital = -$3020640 |
| Form 990, Part XI, Line 9 | Unclaimed Capital Credits Escheated = $1576751 |
| FORM 990, PART I, LINE 14 - BENEFITS PAID TO MEMBERS | THE AMOUNT INCLUDED ON THIS LINE, REPRESENTS CAPITAL CREDITS ALLOCATED TO MEMBERS FOR THE CURRENT TAX YEAR (ALLOCATED AFTER THE END OF THE YEAR THE MARGINS WERE EARNED). THIS AMOUNT ALSO APPEARS IN FORM 990 PART IX, LINE 4; FORM 990 PAGE 12, LINE 9 TO RECONCILE CHANGES IN NET ASSETS; AND FORM 990, SCHEDULE D, SECTION XII, LINE 4B AS A RECONCILING ITEM TO ARRIVE AT EXPENSES PER AUDIT. CURRENT YEAR MARGINS $9,345,091. CAPITAL CREDITS RETIRED DURING 2023 WERE $3,020,640. |
| Statement Note 1 | OREGON TRAIL ELECTRIC CONSUMERS COOPERATIVE, INC.TAX YEAR ENDED DECEMBER 31, 2023FORM 990, PAGE 5, PART V, LINE 11b 93-0958642GROSS INCOME RECEIVED FROM OTHER SOURCES:INTEREST INCOME $ 420,808CAPITAL CREDIT DISCOUNTS TAKEN 171,519CAPITAL CREDITS REC'D - CFC 126,210CAPITAL CREDITS - OTHER 86,991OTHER NON OPERATING INCOME 46,702CONTRIBUTION IN AID OF CONSTRUCTION 799,787C&R DISCOUNT 1,400,429 TOTAL GROSS INCOME RECEIVED FROM OTHER SOURCES $3,052,446 |
| Statement Note 2 | ANALYSIS OF PLANT AND ACCUMULATED DEPRECIATIONTOTAL ELECTRIC PLANT AS OF 12/31/2023 DATE COST ORPROPERTY ELECTRIC PLANT ACQUIRED OTHER BASISPRODUCTION 88-23 $ 53,169TRANSMISSION 88-23 $ 15,248,099DISTRIBUTION 88-23 $120,897,555GENERAL PLANT 88-23 $ 25,677,797INTANGIBLE PLANT 88-89 $ 370,520CONSTRUCTION IN PROGRESS 11-23 $ 4,513,622 ACQUISTION ADJUSTMENT 88-89 $ 10,107,659COMPLETED CONSTR/LEASED PLANT 91-23 $ 6,846,178TOTAL PLANT $183,714,599ANALYSIS OF CHANGES IN ACCUMULATED DEPRECIATIONAS OF 12/31/2023ACCUMULATED DEPRECIATION TOTAL 1. BALANCE BEGINNING OF YEAR $70,484,528 2. ADDITIONS - DEPRECIATION ACCRUALS CHARGED TO: A. DEPRECIATION EXPENSE $ 4,979,927 B. CLEARING ACCOUNTS AND OTHERS $ 357,208 C. SUBTOTAL (A+B) $ 5,337,135 3. LESS - PLANT RETIREMENTS: A. PLANT RETIRED $ 3,776,957 B. REMOVAL COSTS $ 754,948 C. SUBTOTAL (A+B) $ 4,531,905 4. PLUS SALVAGED MATERIALS $ 809,100 5. TOTAL (2c-3c+4) $ 1,614,330 6. SOLAR SHARE AMORTIZATION $ 17,074 7. BALANCE END OF YEAR (1+5-6) $72,081,784 8. PLUS RETIREMENT WORK IN PROGRESS $ 92,574 9. TOTAL ACCUMULATED DEPRECIATION $72,174,358 |
| Statement Note 3 | OTHER SELECTED DISCLOSURES FOR THE YEAR ENDED DECEMBER 31, 2023BECAUSE A UTILITY'S BOOKS AND RECORDS ARE NOT MAINTAINED ON A METHOD TO PROVIDE THE DISCLOSURES REQUESTED IN PART IX OF FORM 990, THE FOLLOWING DISCLOSURES ARE INCLUDED AS ADDITIONAL INFORMATION. AMOUNTS CAPITALIZED REPRESENT COSTS THAT WERE INCLUDED IN THE CONSTRUCTION OF ELECTRIC PLANT, RATHER THAN BEING EXPENSED DURING THE CURRENT PERIOD. SOME AMOUNTS MAY BE ESTIMATED.TOTAL SALARIES AND WAGES $9,948,937 CAPITALIZED PAYROLL INCLUDED ABOVE 2,213,696AMOUNTS LISTED BELOW INCLUDE BOTH EXPENSED AND CAPITALIZED AMOUNTS:PENSION CONTRIBUTIONS 1,833,807OTHER EMPLOYEE BENEFITS 2,140,348PAYROLL TAXES 833,978 LEGAL FEES 152,355AUDITING FEES 28,000OTHER CONSULTANTS 43,273ADVERTISING AND PROMOTION 77,263 |
| Software ID: | 23017517 |
| Software Version: | 2023v5.1 |