| 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 = $3587889 |
| Form 990, Part XI, Line 9 | Decedent Retirement Discounts = $169682 |
| Form 990, Part XI, Line 9 | Decrease in Memberships and Other Capital = -$22088 |
| Form 990, Part XI, Line 9 | Increase in Memberships and Other Capital = $0 |
| Form 990, Part XI, Line 9 | Retirement of Patronage Capital = -$3030765 |
| Form 990, Part XI, Line 9 | Unclaimed Capital Credits Escheated = $0 |
| 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 $3,587,889. CAPITAL CREDITS RETIRED DURING 2024 WERE $3,030,765. |
| Statement Note 1 | OREGON TRAIL ELECTRIC CONSUMERS COOPERATIVE, INC.TAX YEAR ENDED DECEMBER 31, 2024FORM 990, PAGE 5, PART V, LINE 11b 93-0958642GROSS INCOME RECEIVED FROM OTHER SOURCES:INTEREST INCOME $ 551,307OTHER RENTS 20,898CAPITAL CREDITS REC'D - CFC 63,028CAPITAL CREDITS - OTHER 74,602OTHER NON OPERATING INCOME 134,483CONTRIBUTION IN AID OF CONSTRUCTION 692,422C&R DISCOUNT 360,119GAIN ON DISPOSAL OF ASSETS 3,923 TOTAL GROSS INCOME RECEIVED FROM OTHER SOURCES $1,900,782 |
| Statement Note 2 | ANALYSIS OF PLANT AND ACCUMULATED DEPRECIATIONTOTAL ELECTRIC PLANT AS OF 12/31/2024 DATE COST ORPROPERTY ELECTRIC PLANT ACQUIRED OTHER BASISPRODUCTION 88-23 $ 53,169TRANSMISSION 88-24 $ 15,151,808DISTRIBUTION 88-24 $124,495,527GENERAL PLANT 88-23 $ 27,771,137INTANGIBLE PLANT 88-89 $ 370,520CONSTRUCTION IN PROGRESS 11-23 $ 4,122,250 ACQUISTION ADJUSTMENT 88-89 $ 10,107,659COMPLETED CONSTR/LEASED PLANT 91-23 $ 7,593,535TOTAL PLANT $189,655,605ANALYSIS OF CHANGES IN ACCUMULATED DEPRECIATIONAS OF 12/31/2024ACCUMULATED DEPRECIATION TOTAL 1. BALANCE BEGINNING OF YEAR $72,174,358 2. ADDITIONS - DEPRECIATION ACCRUALS CHARGED TO: A. DEPRECIATION EXPENSE $ 5,104,982 B. CLEARING ACCOUNTS AND OTHERS $ 389,200 C. SUBTOTAL (A+B) $ 5,494,182 3. LESS - PLANT RETIREMENTS: A. PLANT RETIRED $ 2,730,976 B. REMOVAL COSTS $ 709,534 C. SUBTOTAL (A+B) $ 3,440,510 4. PLUS SALVAGED MATERIALS $ 531,108 5. TOTAL (2c-3c+4) $ 2,584,780 6. LESS SOLAR SHARE AMORTIZATION $ 16,915 7. BALANCE END OF YEAR (1+5-6) $74,742,223 8. PLUS RETIREMENT WORK IN PROGRESS $ 105,856 9. TOTAL ACCUMULATED DEPRECIATION $74,848,079 |
| Statement Note 3 | OTHER SELECTED DISCLOSURES FOR THE YEAR ENDED DECEMBER 31, 2024BECAUSE 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 $10,091,417 CAPITALIZED PAYROLL INCLUDED ABOVE 2,338,142AMOUNTS LISTED BELOW INCLUDE BOTH EXPENSED AND CAPITALIZED AMOUNTS:PENSION CONTRIBUTIONS 1,728,833OTHER EMPLOYEE BENEFITS 2,211,595PAYROLL TAXES 854,016 LEGAL FEES 229,063AUDITING FEES 30,800OTHER CONSULTANTS 517,876ADVERTISING AND PROMOTION 122,043 |
| Software ID: | 24020490 |
| Software Version: | 2024v5.2 |