2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization

8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization

1/26

lefile GRAPHIC print

-

DO NOT PROCESS

I

As Filed Data

- I

DLN: 934932250250451

Form

990

Return

o f

Organization Exempt From

I nco me T ax

Under section 50 1 ( c ) ,

52 7, o r

4947

a)(1)

of

the

Internal

Revenue Code

except

private

foundations)

D e p a r t m e n t

o f

t h e T r e a s u r y

Do

no t

enter social security numbers on

t h i s form

as

i t

may be made public

I n t e r n a l R e v e n u e S e r v i c e

1-Information about Form

990

a nd

i t s

instructions i s a t

www.IRS.gov/form990

A Fo r th e 2014

calendar

ye a r

,

or t ax y ea r beginning 01-01-2014

,

a nd e nding 1 2-31- 2014

OMB No 1545-0047

2 0 1

4

ganization

D Employer

identification number

B Check i f a p p l i c a b l e

CTRIC

COOPERATIVE

IN C

d d r e s s change

59-0469125

Name

change

es s

asb

1

I n i t i a l r e t u r n

E Telephone

number

F i n a l

s t r e e t ( o r P 0

bo x

i f mail

i s

not delivered t o s t r e e t address) Room/suite

f l return/terminated

1

(352)

793-3801

mended r e t u r n

s t a t e

or p r o v i n c e , co

u n t r y , and ZI P

o r f o r e i g n

p o s t a l code

1 A p p l i c a t i o n

pending

E FL 335850301

G

Gross r e c e i p t s 365,631,782

F

Name

a nd

address o f principal o f f i c e r

H(a)

I s

t h i s a group return

f o r

JAMES P DUNCAN

subordinates?

(-Yes

No

PO

BOX

301

SUMTERVILLE,FL

335850301

H(b)

Ar e a l l subordinates 1Yes No

included?

I Tax-exempt s t a t u s

F_

501(c)(3) 501(c)

12

I

( i n s e r t

no

947(a)(1)

or

F_

52 7

I f

No,

att ach

a

l i s t (see

instructions)

J

Website : 1 -

WWWSECOENERGY

COM

H(c)

Groupexemptionnumber -

K Form o f

organization

Corporation r u s t

F_

Association

- Other

0 -

L

Year o f formation 1938

M

State o f l e g a l domicile

FL

Summary

1 B r i e f l y describe the organization's mission

or

most

significant

activities

TO SATISFY CUSTOMERS BY PROVIDING RELIABLE

COMPETITIVELY

PRICED ELECTRICITY AND RELATED SERVICES

IN

A

FINANCIALLY

SOUND MANNER

w

2 Check

t h i s b ox O f -

i f

the

organization

discontinued

it s

operations

or

disposed o f more than 25 o f

it s

ne t assets

3 Number o f

voting

members o f the governing b o dy (Part

VI ,

l i n e 1a ) 3 9

o f

: 4

N

umber o f

independent voting members

o f the governing

b o dy

(Part

V

I l i n e

1b )

4 9

5 Total

number o f individuals employed i n c a le n da r y e a r 2014 (Part V, l i n e 2a )

5

431

6

Total

number o f volunteers (estimate

i f

necessary) 6

7a T o ta l unrelated b u si n es s r e ve n ue from P a rt V I II , column ( C ) , l i n e 12

7a

35,358

b

Ne t unrelated business taxable income from Form 990-T, l i n e 34

7 b 30,822

Prior

Year Current Year

8

Contributions a nd grants (Part VIII, l i n e 1h)

64,903

59,561

9

P r o g r a m service

revenue

(Part

V I

I I

n e 2g )

340,999,335 364,374,856

N

10

In v e s tm e n t i n c o me

(Part

VIII,

column

( A) , l in e s

3 ,

4 ,

a nd 7 d

238,592

680,381

11

Other

revenue (Part

VIII,

column ( A) , l in e s 5 ,

6d,

8c,

9c ,

10c, a nd 11e )

24,275 35,295

12

Total

revenue-add l i n e s 8

through

11 ( mu st equal Part VIII, column ( A ) , l i n e

12 )

341,327,105 365,150,093

13 Grants

and similar

amounts pa id (P a rt

IX , column ( A , l i n e s

1-3

90,000 90,000

14

Benefits

paid

t o

or

f o r members (Part IX , column ( A ) , l i n e 4)

2,898,191 4,210,211

15

Salaries, other compe nsati o n,

employee benefits

(Part IX , column ( A ) , l in e s

3,904,176 4,461,009

5-10)

16 a

Professional

fundraising

f ee s ( Pa rt IX , column ( A ) , l i n e

11e)

0

L L J

b

T o t a l f u n d r a i s in g

expenses

( P a r t

I X column

( D ) ,

l i n e

25)

0 -

0

17 Other expenses (Part

IX ,

column ( A) , l in e s

h1a-11d,

11f-24e

324,408,077 349,005,425


2/26

Form 990 2014

Page 2

Statement of

Program

Service ccomplishments

Check

i f

Schedule

contains

a response or note

t o any

l i n e i n t h i s Part

I I I . -

1 B r i e f l y

describe

the organization's

mission

TO SATISFY USTOMERS

BY PROVIDING

RELIABLE COMPETITIVELY PRICED

ELECTRICITY

AND RELATED SERVICES IN A

FINANCIALLY

SOUND

M NNER

2 Did the organization

undertake any

significant

program

services during the

y ea r whi ch wer e

no t

l i s t e d

on

the p r i o r Form 990 or 990-EZ?

fl Yes F No

I f Yes,

describe

these new services o n Schedule

3

D id the org a ni z at i on cease conducting

or make significant

changes

i n how i t c on duct s , a n y program

services?

Yes

F7 No

I f Yes,

describe

these

changes on

Schedule

0

4 Describe the organization

s

program service accomplishments f o r each o f t three largest program

services

as measured by

expenses

Section 501(c)(3) and 501(

c)(4)

organizations are

required

t o

report the

amount

o f grants

and

allocations

t o

others,

the t o t a l

expenses, a n d r eve nue i f

any,

f o r e ac h p ro g r am service reported

4a (Code

Expenses

i n c l u d i n g grants o f (Revenue

SALE AND

DISTRIBUTION OF ELECTRICITY TO

189,058

ACCOUNTS I N TH COOPERATIVE'S SERVICE AREA

4b

(Code

(Expenses

i n c l u d i n g grants

o f

(Revenue

4c

(Code

Expenses

i n c l u d i n g grants o f (Revenue

4d

Other program

services Describe

i n

Schedule

0

Expenses

including grants of

Revenue

4e Total

program

service

expenses

F orm 9 90

(2014)


3/26

Form

990

(2014)

Page 3

Checklist

of

Required

Schedules

Yes No

1 I s the organization

described i n

section

501(c)(3)

or4947 a 1 (other than a private foundation)?

I f Yes, No

complete Schedule A

1

2

I s the

organization required

t o complete Schedule

B ,

Schedule o f

Contributors (see instructions)?

2

No

3

Di d

the

organization

e n g a g e

direct or

indirect p o l i t i c a l campaign activities on

behalf

o f or i n opposition t o No

candidates f o r

public o f f i c e ?

I f

Yes, complete Schedule C , P a r t I 3

4

Section

50 1

c)(3) organizations

Did

the

organization

engage

i n

lobbying

a c t i v i t i e s ,

or

ha ve

a

section

501(h)

election

i n

e f f e c t during th e t ax year? I f Yes, complete

Schedule

C , P a r t

I I

4

5 I s the organization a section

501 c 4 , 501

c 5 ,

or

501(c)(6)

organization that receives membership dues,

assessments, or similar

amounts

a s de fin ed

i n Revenue

Procedure

98-19? I f Yes, complete Schedule

C ,

P a r t

II I

5

N

o

6

Di d

the

organization

maintain any donor advised

funds or

any similar funds

or

accounts f o r w hi c h d o no r s ha ve the

r i g h t t o provide advice on the distribution or investment

o f

amounts i n such funds or accounts? I f Yes, complete

Schedule D ,

P a r t

I

6

N

o

7

Di d the organization receive

or

hold a

conservation easement,

including

easements t o preserve o pen space,

th e

environment,

h i s t o r i c land areas, or h i s t o r i c structures?

I f

Yes, complete Schedule D , P a r t IIS

7

No

8 Di d the

organization

maintain collections

o f

works o f a r t , historical treasures, or other similar assets?

I f

Yes,

complete Schedule

D , P a r t II I

8

N

o

9

Di d the organization report an amount

i n

Part

X , l i n e 21 f o r

escrow or custodial

account l i a b i l i t y , serve

as a

custodian f o r amounts no t

l i s t e d i n Part

X ,

or provide

credit counseling, debt

management, credit r e p a i r , or

debt

negotiation

services?

I f

Yes, complete

Schedule D , P a r t I V

9

No

10

Di d

the organization, directly

or

through

a related organization, hold

assets

i n temporarily restricted endowments,

10

No

permanent endowments, or quasi-endowments? I f Yes, complete

Schedule

D , P a r t

V

11 If the organization s

answer

t o any o f the

following

questions i s

Yes, then

c o m p le t e S c he du le

D, Pa rts V I, VI I ,

VIII, IX ,

or X

a s a p pl ic able

a Di d

the

organization report an amount

f o r l a n d ,

buildings,

and

equipment

i n Part X , l i n e

10?

I f Yes,

complete Schedule

D ,

P a r t

V I .

ll a

Y es

b Did

the

organization

report an amount f o r investments-other securities i n

Part

X , l i n e 12 that i s 5

or

more o f

it s

t o t a l assets

reported

i n

Part

X , l i n e 16? I f Yes, complete Schedule D ,

P a r t

VIIS

llb

No

c Di d

the

organization

report

an amount

f o r investments-program related

i n Part

X , l i n e 13 that i s 5

or more

o f

it s

t o t a l assets

reported i n

Part

X , l i n e

16?

I f

Yes,

complete

Schedule D , P a r t VIII

ll c

Y es

d

Di d the

organization

report an amount f o r other

assets

i n Part X ,

l i n e 15

that

i s

5 or more

o f

t s t o t a l

assets

reported

n Part X , n

e

16 ? I f Yes, complete Schedule D , P a r t IX

lid

No

e

Di d

the

organization

report an

amount

f o r other

l i a b i l i t i e s

i n Part X , l i n e 25? I f

Yes, complete

Schedule D , P a r t X

ll e Y es

f Di d the organization s

separate

or

consolidated financial

statements f o r th e t ax

year

include a footnote that

ll f Y es

addresses

the organization s

l i a b i l i t y

f o r

uncertain

ta x

positions

under

FI N

48

ASC

740)?

I f Yes,

complete

Schedule

D , P a r t X.

12a Di d the

organization obtain

separate, independent audited f i n a n c i a l statements f o r th e ta x year?

I f Yes, complete Schedule D , Parts X I and X I I

12a

Y es

b

Was th e

organization included

consolidated, independent

audited

financial statements f o r t he t ax year? I f

12b No

Yes, and

i f

the organization answered No t o l in e 12a, then completing

Schedule

D , Parts X I a nd X I I i s

optional

IN

13

I s the

organization

a scho o l described section

170(b)(1)(A)(ii)?

I f

Yes, completeScheduleE

13 No

14a

Di d

the

organization

maintain

an

o f f i c e , employees, or agents

outside

o f the U n it ed S t at e s? 14a No

b

Di d the organization ha ve

aggregate

revenues or ex penses

o f

more than 10,000 from

grantmaking,

fundraising,

b us in e ss , i n ve st me n t, a n d

pr ogram

service

activities

outside

th e

United States,

or

aggregate

foreign

investments

valued a t 100,000 or more? I f Yes, complete Schedule F Parts I a nd IV

14b No

15

Di d

the

organization report on

Part IX ,

column A ,

l i n e 3 ,

more

than 5,000

o f grants or

other assistance t o

or

f o r

any

foreign organization? I f

Yes,

complete

Schedule

F

Parts

I I

a nd I V

15

No

16

Di d

the

organization

report

on

Part IX ,

column A ,

l i n e

3 ,

more

than 5,000

o f

aggregate

grants or

other

assistance

t o or f o r foreign individuals? I f

Yes,

complete

Schedule F

P a r t s

III

and

I V

16

No

17

Di d

the

organization

report a

t o t a l o f

more

than 15,000 o f ex penses f o r

professional fundraising

s er vi ce s o n

Part

17 No

IX , column A , l i n e s 6

and 11e?

I f Yes, complete

Schedule G ,

P a r t I

(see instructions)

18

Di d the

organization

report more than 15,000

t ot a l o f

fundraising

event

gross income

and

contributions

on Part

VIII, l i n e s

1c a nd 8a ?

I f

Yes, complete Schedule G ,

P a r t I I

18

No

19 Di d

the

organization

report

more

than 15,000

o f

gross

income

from

gaming

activities

on Part VIII,

l i n e

9a ?

I f

19

No

Yes, complete Schedule G ,

P a r t II I

20a

Di d the organization operate

o ne

or more hospital

f a ci l i t i es ? I f Yes, completeScheduleH

20a

No


4/26

Form

99 0

(2014)

Page

4

Checklist of

Required

Schedules (continued)

21

Di d th e organization report more than

5,000

o f grants or other

assistance t o any

domestic organization or

21

Ye s

domestic government on

Part

IX , column A ) , l i n e 1? I f

Yes,

complete Schedule

I ,

P a r t s I an d I I

22

Di d

th e

organization

report more than 5,000

o f grants or

other assistance t o

or

f o r domestic

individuals o n Part

22

IX ,

column A ) ,

l i n e 2? I f

Yes,

complete Schedule I , P a r t s I and II I

Ye s

23 Di d th e organization answer

Yes t o

P ar t V I I, Section A,

l i n e 3 , 4 ,

or

5 about

compens ation

o f

the organization s

current

a nd f or me r o f f i c e r s ,

directors, trustees,

ke y employees, and

highest compensated

employees? I f Yes,

23

Ye s

complete Schedule

J

IN

24a

Di d th e

organization

ha v e a tax-exempt bond

issue

with an outstanding principal amount

o f

more than

100,000

as o f th e l a s t

day

o f t he year , t ha t wa s issued a f t e r December 31 , 2002?

If Yes, answer l i n e s

24b through

24d

and complete Schedule K . I f No, go t o l i n e 25a

24a

N

o

b

Di d th e organization

invest

any

proceeds

o f

tax-exempt

bonds beyond a temporary period

exception?

24b

c Di d th e organi zati on main tai n an escrow

account

o th e r t ha n a refunding escrow

a t any

t i me d urin g th e

year

t o d ef ea s e a ny

tax-exempt

bonds?

24c

d Did th e o rg ani za tio n a ct a s a n

on

behalf of issuer

f o r bonds outstanding a t any

t i me d urin g th e

year?

24 d

25a

Section 501(c

)

3 ) , 50 1 c)(4),

and

50 1

c)(29) organizations

Di d

th e

organization

engage i n an

excess benefit

transaction with a disqualified

person

during

th e year?

I f

Yes, complete Schedule L , P a r t I

25a

b

I s th e

organization

aware that i t engaged i n an excess benefit transaction with a disqualified

person

i n a p r i o r

year,

an d

t ha t t he transaction

has

no t been r ep or te d o n

any o f

the organization s p r i o r Forms 990 or 990-EZ? I f

25b

Yes, complete Schedule L , P a r t I

26 Di d

th e

organization report

any

amount o n Pa rt X ,

l i n e 5 , 6 , or 22 f o r

recei v ables f rom

or payables t o any

current

or

former o f f i c e r s ,


ke y employees, highest

compensated

employees,

or disqualified

persons?

26

No

I f

Yes, complete

Schedule

L ,

P a r t

I I

19

27 Di d

th e

organization provide a grant or other

assistance t o

an

o f f i c e r , director,

trustee,

ke y employee,

substantial

contributor

or employee

thereof,

a

grant selection

committee member,

or

t o a

35

controlled entity

or

family

27

No

member

o f

an y o f these

persons? I f

Yes, complete

Schedule L ,

P a r t

I II

ID

28 Was th e organization a party t o a

business

transaction with

one o f

the following parties (see Schedule L ,

Part

I V

instructions f o r

applicable

f i l i n g

thresholds, conditions,

a n d e xc e pt i on s )

a A current

or former

o f f i c e r ,

director,

t ru st ee , o r

ke y

employee?

I f

Yes, complete

Schedule L ,

P a r t

I V

95

28a No

b

A family member o f a

current or

former

o f f i c e r ,

director, trustee, or ke y employee? I f Yes,

complete Schedule L , P a r t

I V

28b

No

c A n

entity

o f

which

a current or

former

o f f i c e r ,

director,

trustee,

or ke y

employee o r a family

member

thereof) wa s

an

o f f i c e r ,

director, trustee,

or direct

or indirect owner? I f Yes, complete Schedule

L ,

P a r t I V

28c

Ye s

29

Di d

th e

organization receive more

than 25,000

i n non-cash contributions?

I f Yes, completeScheduleM

29

No

30

Di d

th e

organization receive contributions o f

a r t , historical treasures

or other similar assets, or

q u a l i f i e d

conservation contributions? I f

Yes,

complete Schedule

30

No

31

Di d

th e

organization

l i q u i d a t e ,

terminate, or dissolve

and ce a se operations? I f

Yes, complete

Schedule N ,

P a r t I

31

N

o

32

Di d

th e

organization

s e l l , exchange dispose o f

or

transfer

more

than

25

o f

i t s

ne t assets? I f

Y e s , complete

Schedule

N , P ar t I I

32

N

o

33 Di d th e

organization

own 100

o f

an entity disregarded

as

separate from th e

organization

under Regulations

sections 301 7701-2

an d

301 7701-3?

I f Yes, complete Schedule

R , PartI

33

No

34 Was th e organization related t o

any

tax-exempt or taxable entity?

I f

Yes, complete Schedule R , P a r t II , I I I , orIV,

and

P a r t V

l i n e

34

N

o

35 a Di d th e organization ha v e a controlled

entity within

th e meaning

o f

section

512(b)(13)7

35 a

N

o

b

If Yes to

l i n e 35a, d i d

th e organization receive

any

payment from or engage i n

any

transaction with a controlled

35 b

entity within

th e meaning

o f

section 512 (b)(13 )? I f Yes, complete

Schedule

R , P a r t V

l i n e

2

36

Section 501(c

)

3) organizations

Di d

th e organization make

any

transfers t o an exempt non-charitable related

organization?

I f Yes, complete Schedule

R , P a r t V ,

l i n e

2

36

37


conduct

more than

5

o f i ts

activities through

an

entity

that

i s

no t a related organization

and that i s

t re at ed a s

a

partnership

f o r federal

income

tax p ur po se s? I f Yes, complete Schedule R , P a r t

VI

37

No

38


c o mp l et e S c h ed u le

0

and

provide

explanations i n Schedule

f o r

P ar t V I, l i n e s

1 lb

and

9?

Note

A l l Form 990 f i l e r s ar e

required

t o c o mp l et e S c h ed u le 0

38

Ye s

F or m 990

(2014)


5/26

Form

990

(2014)

Page 5

M W

Statements

Regarding Other IRS Filings

and

x

Compliance

Check

i

Schedule

contains a response

or note

t o any l i n e

i n

t h i s

Part

V (-

Yes No

la

Enter the

number reported Bo x

3

o f Form 1096

Enter

-0- i

no t

applicable

la 99

b

Enter the

number o f Forms

W-2G

included i n

l i n e

la

Enter-0- i f no t

applicable

lb 0

c Di d

the

organization comply with backup withholding

r u l e s f o r

reportable

payments t o

vendors

and

reportable

gaming (gambling) winnings t o p r i z e winners?

1c

2a Enter

the

number

o f

employees

reported on

Form W-3,

Transmittal

o f

Wage

and

Tax Statements, f i l e d f o r the calendar

year

ending with o r w it hi n t he

year

covered

by

t h i s

return

2a 431

b

I f

a t least

one i s

reported on

l i n e

2a, d i d the organization

f i l e a l l

required

federal

employment tax returns?

Note

I f the

sum

o f

l i n e s la

and 2a i s

greater than

250 yo u

may be required

t o

e - f i l e (see

instructions)

2b

Yes

3a

Di d the organization have unrelated

b u si n es s g ro ss

income o f 1 000 or more during the

year?

3a Yes

b

I f

Yes,

ha s i t f i l e d a Form 990-T

f or t h i s

year?

I f

No

t o l i n e 3b, provide

an

explanation

i n Schedule

O

3b

Yes

4a At any time

during

the calendar

year,

d i d the

organization

have

an interest

i n

or

a

signature or

other authority

over, a f i n a n c i a l account i n a foreign country (such

as

a bank account, securities account, or other f i n a n c i a l

account)?

No

b

I f

Yes, enter

the

name

o f the

foreign

country

0

Se e instructions f o r f i l i n g

requirements

f o r FinCEN Form 114, Report

o f

Foreign Bank

and

Financial Accounts

(FBA

R)

5a Was the

organization

a party t o a prohibited tax

shelter

transaction

a t any

time

during

t he t ax year?

5a No

b Did

any

taxable party n o t i f y the organization that i t w as or

i s

a party

t o

a prohibited tax shelter transaction?

5b

No

c

I f

Yes,

t o l i n e 5a or

5b,

d i d the

organization

f i l e

Form 8886-T?

5c

6a Does the

organization

have annual gross

receipts

t ha t a re normally greater than 100 000

and

d i d the

organization

s o l i c i t any

contributions that

were

n ot t ax deductible

as

charitable contributions?

b

I f

Yes,

d i d the

organization include

with every solicitation an express s t a tement that such

contributions

or

g i f t s

were

n ot ta x deductible?

7

Organizations

that

may

receive deductible contributions under section 170(c).

a Di d

the

organization receive a payment i n excess

o f 75 made p a r t l y

as a contribution

and p a r t l y f o r goods and

services provided t o the payor?

b

I f

Yes,

d i d the

organization

n o t i f y the donor

o f

the

value o f

the goods or services provided?

c Di d

the

organization

s e l l , exchange,

or

otherwise dispose o f tangible personal

property

f o r which i t

w as required

t o

f i l e Form 82827

d

I f

Yes,

indicate the number o f

Forms

8282 f i l e d

during

the year 7d

e Di d the

organization

receive

any

funds,

directly or i n d i r e c t l y , t o pa y premiums on a personal benefit

contract?

f Di d the organization,

during

the year,

pa y premiums,

directly or i n d i r e c t l y , on a personal benefit contract?

g

I f the

organization

received a

contribution o f

q u a l i f i e d i n t e l l e ct u a l property,

d i d

the

organization

f i l e

Form 8899 as

required?

h

I f the

organization

received a

contribution o f

cars,

boats,

airplanes,

or

other

vehicles,

d i d the

organization

f i l e a

Form 1098-C?

8 Sp on so ri ng o rg an iz at io ns ma in ta in in g donor advised

funds.

Di d a donor

advised

fund

maintained

by the

sponsoring

organization have excess

business

holdings

a t any

time

during

the

year?

9a

Di d

the sponsoring

organization

make

any

taxable distributions under section 4966?

b

Di d the

sponsoring

organization make a distribution t o a donor, donor advisor, or related

person?

10

Section 501(c

7) organizations. Enter

a I n i t i a t i o n fees

and

capital contrib utions included on Part VIII,

l i n e 12 10a

b

Gross

receipts, included on Form 990,

Part

VIII,

l i n e

12,

f o r

public

us e o f club 10b

f a c i l i t i e s

11 Section

501(c

12) organizations. Enter

a

Gross

income

from

members or

shareholders 11a 360 823 650

b

Gross

income

from other sources (D o n ot n et amounts du e

or

paid t o other sources

against

amounts du e

or received from

them

11b

1 32 233

6a

Yes

6b

Yes

7a

7b

7c

7e

7f

7g

7h

8

9a

9b


6/26

Form 990 (2014)

Page 6

Governance , Management,

and

Disclosure For each Yes response t o

l i n e s

2 throu gh 7 b b elow ,

and f o r

a

No

response t o

l i n e s

8 a , 8 b , or 1O b

below,

describe

t h e circumstances, processes,

or

changes

i n

Schedule

0 .

See instructions.

Check i f

Schedule

contains a response

or note

t o any l i n e

i n

t h i s

Part

VI

.F

Section

A Governing Body and

Management

Yes

No

la

Enter th e number o f

voting

members o f th e governing body a t th e

en d

o f t he t ax

la

9

year

I f

there

are

material

differences i n

voting

r i g h t s among members

o f

th e governing

body, or i f th e

governing

body

delegated

broad authority

t o

an

executive

committee

or

similar committee,

explain i n

Schedule

0

b

Enter th e number

o f voting members included

i n l i n e

la,

above,

w ho are

independent

lb 9

2 Did

any

o f f i c e r ,

director, trustee,

or

ke y

employee

have a family relationship

or

a business relationship

with

any

other

o f f i c e r ,

director, trustee, or ke y employee?

2

No

3

Di d

th e

organization

delegate control over management duties cus tomarily perf or med

by or

under th e

direct

3 No

supervision o f

o f f i c e r s ,

directors or trustees,

or ke y

employees t o a management company or other

person?

4 Di d th e

organization

make

any

significant changes t o t s governing documents since th e p r i o r Form 990 was

f i l e d ?

No

5 Did th e organization become aware

during

th e

year o f

a significant diversion o f the organization s assets? 5 No

6

Di d

th e

organization

have

members or

stockholders? 6

Y es

7a

Di d

th e

organization

have members stockholders,

or other

persons

who

ha d th e p ow er t o

e le ct o r

a pp oi nt o n e

or

more

members o f th e governing body?

7a

Y es

b

Ar e any govern ance decisions

o f

th e

organization

reserved t o

o r

subject t o approval by) members stockholders, 7 b

Y es

or

persons

ot her t h an th e governing body?

8

Di d

th e

organization contemporaneously

document th e meetings held

or written

actions undertaken

during

th e

year

by

the following

a The governing body?

8a Y es

b Each committee with authority

t o

act o n b eha lf o f th e

governing b ody? 8b

Y es

9

I s there

any

o f f i c e r , director, trustee, or

ke y

employee l i s t e d i n Part VII,

Section

A, w ho cannot be reached

a t

th e

organization s

mailing

address? I f

Yes, provide

th e

names

an d addresses i n Schedule

0

9

No

Section B .

Policies

T h i s

Section B

r e q uests

information about

p

o l i c i e s

no t

r e q u ired b y

t h e Internal Revenue Code.)

Yes No

10a Di d th e

organization

have l o c a l chapters, branches, or

a f f i l i a t e s ?

10a No

b

I f

Yes, d i d th e organization have written

policies a n d p r oc ed ur es g ov e rn in g

th e

activities o f such

chapters,

a f f i l i a t e s ,

and branches t o ensure their operations

are

consistent

with

th e

organization s

exempt purposes?

10b

11a

Has

th e

organization

provided

a

c om p le t e c op y

o f

t h i s

Form 990

t o l l

members

o f

i t s

governing body before f i l i n g

th e form?

11a

Y es

b

Describe

i n

Schedule

0

th e process, i f

any,

used

by

th e

organization

t o review t h i s

Form 990

12a

Di d

th e

organization

have a

written

conflict o f

interest

policy?

I f

No, go t o l i n e 13 12a

Y es

b

Were o f f i c e r s , directors, or

trustees,

and

ke y employees

required

t o disclose annually interests that could give

r is e t o

conflicts?

12b

Y es

c Di d th e organization regularly

and

consistently

m o ni t or a n d

enforce compliance

with

the policy?

I f

Yes, describe

i n Schedule

0

how

t h i s w as done

12c Y es

13

Di d th e organization have a written whistleblower policy?

13

Y es

14 Di d th e organization have a written

document

retention

and

destruction policy?

14 Y es

15

Di d

th e process f o r determining

compensation

o f th e

following

persons

include

a r ev ie w a n d a pp ro va l

by

independent persons, comparability data,

and

contemporaneous substantiation

o f

the deliberation

and

decision?

a

The organization s

CEO

Executive Director,

or to p

management o f f i c i a l 15 a

Y es

b Other

o f f i c e r s or ke y

employees

o f th e

organization

15 b

Y es

I f

Yes

t o

l i n e

15 a

or 15b,

describe th e

process

i n Schedule

(see instructions)

16 a Di d th e

organization invest

i n

contribute

assets t o ,

or participate i n a j o i n t venture or similar arrangement with a

taxable

entity

during th e year?

16a

No

b

I f

Yes,

d i d th e organization follow a written policy

or procedure

requiring the organization t o evaluate it s

participation

j o i n t

venture arran gemen ts under

applicable

federal ta x

l a w ,

and

take

steps t o safeguard th e

organization s exempt

status with

respect t o s u ch a r r an g e m e nt s ?

16 b

Section C . Disclosure

17

L i s t th e States with

which

a copy

o f

t h i s Form 990

i s

required

t o

be

filed-


7/26

Form

99 0

(2014)

Page 7

Compensation

of Officers

Directors

Trustees

Key

Employees

Highest

Compensated

Employees and Independent Contractors

Check i f

Schedule

0

contains a response

or note

t o any l i n e

i n

t h i s

Part

VI I . -

Section A. Officers, Directors, Trustees,

Kev

Employees, and

Highest

Compensated Employees

la Complete

t h i s

table f o r a l l persons required t o

be

l i s t e d Report

compensation f o r the calendar year ending with or within the organization s

tax

year

L i s t

a l l o f

the

organization

s current o f f i c e r s , directors, trustees (whether individuals

or organizations),

regardless o f amount

o f

compensation

Enter-0-

columns

D , E ,

and F i f no c o mp e ns a ti o n w a s paid

L i s t

a l l

o f

the

organization

s

current ke y

employees,

i f

any

Se e

instructions

f o r

d e f i n i t i o n

o f

k ey employee

L i s t the organization s f i v e

current

highest compensated

employees (other

than an o f f i c e r , director,

trustee or

ke y employee)

who received reportable compensation (Box 5

o f

Form W-2

and/or

Box 7 o f Form 1099-MISC)

o f

more than 100,000 from the

organization a nd a ny related organizations

L i s t a l l o f the organization s former

o f f i c e r s , ke y

employees, or highest compensated employees w ho received more than 100,000

o f

reportable

compensation from the

organization

a nd a ny

related organizations

L i s t a l l o f

the

organization

s

former directors or

trustees

that received, i n

the capacity

as a

former director

or trustee

o f the

organization,

more than

10,000 o f reportable


organization

a nd a ny related

organizations

L i s t

persons i n the

following order individual trustees or

directors, i n s t i t u t i o n a l

trustees, o f f i c e r s ,

ke y

employees,

highest

compensated employees, and

former

such persons

Check

t h i s

b ox

i f

neither

the

organization nor

any

related

organization

compensated

any

current

o f f i c e r ,

director,

or

trustee

(A)

(B ) (C) (D

)

E

(F)

Name and T i t l e Average

Position

(do no t check Reportable Reportable Estimated

hours per more than one

box,

unless c om pe nsa ti on c om pe ns ati on

amount o f

week l i s t person

i s both

an o f f i c e r from the from related other

any hours and a

director/trustee)

o rg aniz atio n or ga niz ations compensation

f o r related

5 0 = T

(W -

2/1099-

(W -

2/1099-

from the

organizations

C L

: 1

f D

ado

a

MISC)

MISC)

organization

below m

D

a r t ,

and related

dotted l i n e u

S

_

organizations

1 RA Y F VICK 10 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X

X

39,502 0 0

TRUSTEE-PRES

2 RICHARD BELLES

20

00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 36,752 0 0

TRUSTEE

3 WILLIAM JAMES JR 7 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

29,252

0 0

TRUSTEE

4 DILLARD B BOYATT

6 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 26,753 0 0

TRUSTEE

5 EARL MUFFETT 7 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 25,753 0 0

TRUSTEE

6 ROBIN

R

HENION 5

00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . .

X 22,752 0 0

TRUSTEE

7 SCOTT BOYATT 5 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 19,752 0 0

TRUSTEE

8 JERRY D H A TF I ELD 4

00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . .

X

X

15,253 0 0

TRUSTEE-V P

9 JAMES HOLTZ

2 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X

X

10,753 0 0

TRUSTEE - SE

(10)

JAMES P DUNCAN 62 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . .

X 968,498 0

90,136

CEO

(11) EUGENE V KANIKOVSKY

58 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . .

X

264,853 0 68,828

CFO

(12)

TED

PURSER

40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X 90,774 0

10,570

CFO


8/26

Form 990 (2014)

Page 8

Section

A.

Officers

,

Directors

, Trustees ,

Key Employees, and Highest Compensated

Employees

(continued)

(A)

(B)

(C)

(D)

(E)

(F)

Name an d

T i t l e Average

Position

(do not check Reportable Reportable Estimated

hours

per more

than on e box, unless

c om pen sa ti on c om pe nsa ti on

amount

o f

other

week

l i s t

person

i s b oth a n o f f i c e r from the from related compensation

an y

hours

an d

a director / trustee

organization organizations from the

f o r

related

0

5 0 =

T

(W - 2/1099- W- 2/1099-

organization

organizations c

f D

ad o

a

MISC) MISC)

an d

related

below

Q

5

m

D

U _

a

i t organizations

dotted

l i n e u

_

Q a ,

D

c

(15)

BARRY BOWMAN 40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

284,469 0 62,961

DIR

COR COMM

(16)

ALEX

MARKLEY

24

00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

199,059

0 8,233

DIR HR COR

(17)

GREGGORY H MORRELL 40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

155,072 0 30,657

DIR HR

COR

(18) ROBERT

I

CROWLEY 40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

203,454

0

29,520

MGR

TECH

SE R

(19) ALAN

D KIMBLEY 40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

178,727 0 52,702

ENG SRVS

SU P

(20) MICHAEL

I ROBERGE

40 00

....

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . .

X

169,246

0

64,494

MGR

ENG

SRVS

(21) KENNY

I

RODRIGUE 40 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X

163,887

0

48,385

MGR

SUBST

(22)

THOMAS

MCDANIEL 45 00

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

X 162,215 0 72,7 79

CONTROLLER

lb

Su b - Total

0 -

c

Total from continuation sheets to Part VII, Section

A

0 -

d Total ad d l i n e s

lb

an d 1c

0 -

3 7 1 1 1 9 3 749,812

2 Total

number o f individuals (including but not limited t o those l i s t e d above) who received

more

than

100,000 o f

reportable


organization-69

Yes

No

3

Did

the

organization l i s t

an y

former

o f f i c e r director

or

trustee, key employee,

or

highest compensated employee

on

l i n e

la ?

I f Yes,

complete Schedule Jfor

such

individual

3 No

4 For

an y individual

l i s t e d on

l i n e

la, i s the sum

o f

reportable compensation

an d

other compensation from the

organization

an d

related organizations greater than

150,0007 I f Yes,

complete Schedule

- 7

f o r such

individual

4 Yes

5 Did

a n y per son

l i s t e d on

l i n e

la receiv e

or accrue

compensation

from a n y

unrelated organization or

individual f o r

services

rendered

t o the organization?

I f

Yes,

complete Schedule

Jfor

such

person

5

No

Section

B.

Independent Contractors

1 Complete t h i s

table

f o r yourfive

highest

compensated independent contractors that received

more

than 100,000 o f

compensation

from

the

organization Report

compensation

f o r

the

calendar year ending

with

or

within

the organization s tax

year

(A) (B) (C)

Name

an d business address D es c r ip t io n o f s e r vi c es

Compensation


9/26

Form 990 2014

Page 9

Statement of evenue

Check i Schedule

contains a response or note

t o

any

l i n e i n t h i s Part VIII

A

B C D

Total

revenue Related

or

Unrelated Revenue

exempt

business

excluded from

function revenue ta x

under

revenue sections

512 514

la

Federated

campaigns

la

r

=

b

Membership dues

lb

6-

E c

Fundraising

events

1c

d

Related organizations ld

t J

e Government

grants

( c o n t r i b u t i o n s )

le

V

f A l l other c o n t r i b u t i o n s , g i t s g r a n t s , an d

if

59,561

^ y s i m i l a r amounts not i n c l u d e d above

g Noncash c o n tr i bu t i on s i n c l u d e d

i n

l i n e s

la-If

h

Total

Add

l i n e s la-1f

59,561

Business

Code

2a

SALE

OF ELECTRI CI TY

221000 358,502,502 358,502,502

a 2

b POLE

RENT L

221000 2,851,972 2,851,972

a c SERVICE CHARGE INCOME

221000 2,320,823 2,320,823

d

CAPITAL

CREDITS OTHER

221000

699,559 699,559

e

f

A l l other program service revenue

g Total

Add l i n e s 2a 2f

0 -

364,374,856

3 Investment

income

including

dividends,

interest,

and other

similar

amounts

503,042 503,042

4 Income from investment o f

tax-exempt

bo nd proceeds

•

0 -

5 Royalties

0 -

i ) Real

i i ) Personal

6a Gross

rents

52,195

b Less r e n t a l

16,837

expenses

c

Rental

income

35,358

o r

( l o s s )

d Net rental

inco me

o r l os s

l i m

35,358 35,358

i ) Securities

i i )

Other

7a

Gross amount

from

s a l e s o f

219,833

421,970

assets other

than inventory

b Less c o s t

or

other b a s i s an d 219,833 244,631

s a l e s

expenses

c Gain

or

( l o s s )

177,339

d Net g ai n o r los s

l i m

177,339 177,339

8a

Gross income from

fundraising

W

events

not including

o f

contributions

reported on l i n e 1c

Se e P art I V, l i n e

18

a

s

b

Less direct

expenses

b

c

Ne t income

or los s

from fundraising

events

0 -

9a

Gross

income

from gaming activities

Form 990 2014

Page

10


10/26

Statement of Functional xpenses

S ec ti on 501 c 3 a nd 501 c 4

organizations must

complete

l l columns A l l other organizations must

complete

column A

Check

i f Schedule

contains a response

or note

t o an y l i n e i n t h i s Part

IX

Do n o t i nc lu de amounts reported

on

lines 6b ,

7b ,

8b

9b , and 10b of Part VIII

A

T o t a l

expenses

B

Program

s e r v i c e

expenses

C

Management an d

general expenses

D

Fundraising

expenses

1

G ra nt s a nd

other

assistance t o

domestic organizations

an d

domestic

g ove rn me nt s S ee

P ar t I V, l i n e 21

5 4 , 0 0 0

2 G ra nt s a nd other assistance

t o

domestic

individuals Se e P ar t I V,

l i n e

22

3 6

,000

3

G ra nt s a nd

other

assistance

t o foreign

organizations,

foreign

governments, an d

foreign individuals See P ar t I V, l i n e s 15

an d 16

4

Benefits

paid

t o

or

f o r

members

4 , 2 1 0 , 2 1 1

5 Compensation

of

current

officers,


and

key

employees

3,315,600

6 Compensation no t included above, t o disqualified

persons

as

defined under section

4958 f 1 and per sons

described

i n

section

4958 c 3 B

7

Other

salaries

and wages 1,145,409

8

Pension plan accruals

an d

contributions include section 401 k

an d

403 b

employer contributions

9

Other employee benefits

10

Payroll taxes

11

F ees

f o r services non-employees

a Management

b

Legal

c

Accounting

d

Lobbying

e

Professional fundraising

services

See

P ar t I V, l i n e 17

f Investment management fees

g

Other I f

l i n e

11g

amount

exceeds 10 o f

l i n e

25, column A

amount,

l i s t

l i n e 11g

expenses on

Schedule O)

12

Advertising

a n d p romo t io n

13

Office expenses

14

Information technology

15

Royalties

16

Occupancy

17

Travel

18 Payments

o f

travel

or

entertainment

expenses f o r

an y federal,

state,

or l o c a l public o f f i c i a l s

19 C onfe re nc es , con ven tio ns, an d

meetings

20

Interest

12,971,756

21 Payments t o a f f i li a te s

22 Depreciation, depletion,

an d

amortization 22,491,045

23 Insurance

24

O th e r e x pe n se s Itemize expenses not covered

above

L i s t

miscellaneous

expenses

i n l i n e 24e I f l in e 24e amount

exceeds 10

o f l i n e 25, column A amount,

l i s t

l i n e 24e expenses on Schedule

a

PURCHASED POW R 254,026,879

b

DISTR EXPENSE

MAINT

21,931,613

c

DISTR

EXPENSE

OPERAT

1 3 , 9 1 5 , 7 8 4

d

ONSUM R

ACCT /CUST SER 1 1 , 9 2 8 , 4 8 2

e All other expenses 11,739,866

25

Total functional expenses

Add l i n e s

through 24e

357,766,645 0 0 0

Form

99 0

2014)

Page

11


11/26

Balance Sheet

Check

Schedule

contains a response or note

t o an y l i n e

n

t h i s

Part X

A) B )

Beginning

o f year

En d

o f year

1

Cash-non-interest-bearing

2,251,843

1

3,267,124

2

Savings

an d

t e mp or a ry c as h i n ve s tm en t s

2

3

P le dg es a nd

grants

receivable,

ne t 3

4 Accounts r e ce i va b le , n e t

21,837,514

4

21,853,543

5

Loans and

o t he r r ec ei va b le s f r om cur re nt

a nd f or me r o f f i c e r s


ke y

employees,

and

highest compensated

employees omplete

Part

I I

o f

Schedule

L

5

6 Loans

and

o t he r r ec ei va b le s f r om o t he r disqualified

persons

as

defined

under section

4958 f) 1)),

persons describ ed

i n section

49 58 c) 3) B), and

contributing

employers

a n d s po n so r in g

organizations

o f

section

501 c) 9)

voluntary

employees beneficiary

organizations see instructions) omplete

Part

I I

o f

Schedule

L

6

7

Notes

and loans receivable,

ne t

7

8 Inventories fo r sale

or use

12,543,035 8 12,099,129

9 Prepaid

expenses and

deferred

charges

10,668,309 9 10,028,082

10a

Land, buildings,

and

equipment

cost

or other basis

omplete Part

VI o f S ch ed ul e D

10 a

735,811,028

b

Less accumulated

depreciation 10b

153,507,530 549,656,139

10c

582,303,498

11 Investments-publicly traded securities 11

12

Investments-other securities Se e P ar t IV ,

l i n e

11

12

13

Investments-program-related See P ar t I V,

line

11

56,714,152

13

63,781,444

14 Intangible

assets

14

15 Other assets

Se e

P ar t I V, l i n e 11 15

16 Total assets Add

lines

through 15 must e qual line 34

653,670,992

16

693,332,820

17

Accounts

payable

and accrued expenses

39,085,341

17

46,833,528

18 Grants payable 18

19

Deferred revenue

19

20 Tax-exempt bond


20

21 Escrow or

custodial

account l i a b i l i t y

omplete

Part

IV

o f S ch ed ul e D 21

22 Loans

and other payables

t o

current a nd f or me r

o f f i c e r s

directors,

trustees,

ke y employees, highest compensated employees,

and

disqualified

persons

omplete Part

I I

o f

Schedule L 22

23

Secured mortgages

and notes

payable

to

unrelated

third

parties

357,791,479 23 375,089,507

24

Unsecured notes and

loans payable

to

unrelated

third

parties

26,352,651

24

24,140,686

25

Other l i a b i l i t i e s

including federal income t a x

payables t o

related

t h i r d parties,

and

other


no t

included

on l i n e s 17-24

omplete Part X

o f Schedule

D

23,451,539

25

25,552,682

26

Total

liabilities

Add

lines

17 through

25

446,681,010

26

471,616,403

Organizations that follow

SFAS

117 ASC

958),

check here

1

F-and

complete

l i n e s 2 7 t hr o ug h 29, and l i n e s 33 and 34.

u

27 Unrestricted ne t assets 27

M

c a

28

Temporarily

restricted net

assets

28

r

29 Permanently restricted net

assets

29

_

Organizations

that do no t

follow

SFAS

117 ASC

95 8

, check here

1 - and

W _

complete l i n e s

30

through 34.

30 Capital

stock o r t rus t

principal,

or current funds

809,379

30

829,990

31

Paid-in o r c ap it a l

surplus,

or

land,

b ui ld in g o r

equipment fund

2,632,933

31

2,638,856

4T

32

Retained

earnings,

endowment, accumulated

income,

or

other funds

203,547,670

32

218,247,571

33

To ta l n et assets or fund balances

206,989,982

33

221,716,417

z

Form

99 0

(2014)

Page

12


12/26

«

Reconcilliation of Net Assets

Check Schedule

contains a response or note t o

any l i n e

n

t h i s

Part

XI

1 Total r ev enue ( m us t e qua l P ar t V II I, column A ,

l i n e 12)

2 Total expenses (must e qua l P ar t

IX ,

column

A , l i n e

25 )

3 Revenue

less expenses

Subtract l i n e 2

from

l i n e

4

Ne t assets or fund balances a t beginning o f year (must

e qua l P ar t

X , l i n e 33 ,

column

(A))

5

Ne t

unrealized gains (losses)

on investments

6 Donated services

and

us e

o f

f a c i l i t i e s

7 I n ve s t me nt expen s es

8

Prior period adjustments

9

Othe r chan g es

n net assets

or fund

balances

(explain

n Schedule

0

10 Ne t assets or fund balances a t end

o f

year Combine l i n e s 3 through 9 (must

e qua l P ar t

X , l i n e 33 ,

column

B

1 365,150,093

2 357,766,645

3

7,383,448

206,989,982

5

6

7

8

9 7,342,987

10

221,716,417

Financial

Statements and Reporting

Check

Schedule

contains

a response

or note

t o any l i n e

n t h i s Part

XII

(-

Yes

No

1

Accounting method used t o prepare the

Form 990

fl

Cash

17 Accrual Other

I f

the organization

changed t s method

o f

accounting

from a p r i o r

year

or

checked

Other, explain

n

Schedule

0

2a Were the organization s f i n a n c i a l

statements

compiled or

reviewed

by an independent accountant? 2a

If Yes, check

a

bo x

below t o indicate whether the f i n a n c i a l statements

f o r

the

y ea r w e re

compiled or

reviewed

on

a

separate

basis,

consolidated

b as is , o r both

fl Separate basis fl

Consolidated

basis fl

B ot h c on so li da te d a nd s e pa r at e

basis

b

Were the organization s f i n a n c i a l statements

a udite d by a n

independent accountant? 2b

Ye s

If Yes, check a bo x below t o indicate whether the f i n a n c i a l statements f o r the y ea r w e re

audited on

a separate

basis, consolidated basis, or both

Separate

basis fl Consolidated basis fl Both consolidated and separate basis

c

I f

Yes,

t o

l i n e 2a or

2b, does the organization have a committee that assumes responsibility

f o r

oversight

o f

the

a u d i t ,

review,

or compilation o f

t s

f i n a n c i a l statements and

selection

o f

an independent

accountant?

2c Ye s

I f

the organization changed either t s oversight

process or

selection

process

during the ta x ye ar , explain n

Schedule

0

3a As

a result o f

a federal award,

was

the

organization required

t o

undergo an audit or a udits a s s et f o r t h n

the

Single

Audit

A ct

and

O

Circular

A-133?

3a

b

I f

Yes,

d i d the

organization

undergo the

required audit or audits?

I f the

organization

d i d not undergo the 3b

required

audit or audits,

explain

wh y n Schedule

and

describe

any

steps

taken

t o u nd er g o s uch audits

No

No

F or m 990

(2014)

lefile

GRAPHIC print

- DO

NOT PROCESS As Filed Data

- DLN:

93493225025045


13/26

SCHEDULE

D

Supplemental F i n a n c i a l Statements

O No 1545-0047

(Form 990)

Complete i f th e organization answered Yes, to Form 9 9 0 ,

2 0 1 4

Part

IV , l i n e

6 ,

7 ,

8 , 9 ,

1 0 , 11a, 1 1 b , 11c, 1 1d , 1 1e ,

11f

, 12a,

or

12b.

D e p a r t m e n t o f

th e

T r e a s u r y

0-

Attach

to Form 9 9 0 .

• . -

I n t e r n a l

Revenue

S e r v i c e

Information about Schedule

D

Form

990

and

its

instructions i s

at wwwirs.gov

/form990

Name

of

the organization Employer identification

number

SUMTER ELECTRIC COOPERATIVE INC

59-0469125

Organizations Maintaining Donor Advised Funds or Other

Sim ilar

Funds or Accounts. Complete i f the

or

g anization

answered Yes t o Form

990

Part

IV

l i n e 6 .

(a) Donor advised funds b ) F un ds a nd other a c c ounts

1 Total

number a t

end

o f

year

2 Aggregate value

o f

contributions

t o (during

year)

3

Aggregate value

o f

grants

from

during year)

4 Aggregate value a t end o f year

5

Di d the

organization inform

a l l d on or s a nd d on or advisors i n w r i t i n g t hat t he assets held

i n

d onor a dv i s ed

funds

a re the

organization

s

property

subject

t o

the

organization s exclusive

l e g a l

control?

F

Yes

I

No

6

Di d

the

organization inform

a l l grantees donors, a nd d on or advisors

i n

writing that

grant

funds c an

be

used only f o r

charitable

p ur po se s a nd not f o r the benefit o f the donor or donor advisor

or f o r any other purpose

conferring impermissible

private

benefit?

fl

Yes fl No

MRSTI

onservation

Easements. Complete i f

th e

organization answered Y es to Form 990

Part

IV,

l i n e 7 .

1 Purpose

s ) o f

conservation

easements held

by

the

organization

c h e c k

a l l that

apply)

Preservation o f

land

f o r

public

us e e g

recreation or

education Preservation o f an historically important

land area

Protection o f natural habitat Preservation

o f a

c e rt i fi e d h i s t or i c

structure

fl

Preservation o f open

spa ce

2 Complete

l i n e s

2 a

through

2d

i f

the

organization

held

a

q u a l i f i e d

conservation contribution i n

the

form

o f

a

conservation

easement on the l a s t da y o f the ta x year

a Total number

o f conservation easements

b

Total acreage restricted by conservation easements

c

Number

o f

conservation

easements on

a

c e r t i f i e d

h i s t o r i c

struc ture in c lu ded i n

a )

d

Number

o f conservation easements

included i n

c ) acquired a f t e r 8 /1 7 /0 6 , a nd not

on a

h i s t o r i c

structure

l i s t e d i n the National Register

Held at t he En d

of

the

Year

2a

2 b

2c

2d

3

N

umber

o f conservation easements modified, transferred,

released,

extinguished

or

terminated

by

the organization

during

the ta x

year

0 -

4

N

umber

o f states where property

subject t o conservation easement

i s located

0 -

5

Does the organization have

a

written policy regarding the periodic monitoring inspection handling o f violations, and

e nforc e me nt

o f the conservation easements i t holds?

fl

Yes fl No

6

Staff

and volunteer hours devoted t o

monitoring, inspecting

and

enforcing

conservation easements

during

the year

7

Amount

o f expens es

incurred

i n monitoring

inspecting

and

enforcing conservation

easements

during

the

year

8

Does

e a c h conservation

easement

reported on

l i n e

2(d)

above

satisfy the

requirements

o f

section 170(h)(4)(B)(i)

and section 170(h)(4)(B)(ii)?

F

Yes

No

9 In Part XIII, describe how the organization reports conservation easements i n it s r ev e nu e a nd expens e

statement,

and

balance sheet, and include, i f

applicable, the

text o f

the

footnote

t o the organization s financial statements

that

describes

the organization s

accounting

f o r conservation easements

Organizations

Maintaining

Collections

of Art , Historical

Treasures, or Other Sim ilar

Assets

Complete

i f the

oraanization

answered Yes

t o Form 9 9 0 .

Part

IV. l i n e 8 .

la

I f

the

org aniz ation elec ted , a s

permitted under

SFAS

116 ASC 958), not t o report i n

i t s

r ev e nu e s t at e me n t a nd balance

sheet

works o f a r t , historical treasures,

or

other similar assets held f o r

public

exhibition, education, or

research

i n furtherance o f public

service,

provide,

i n Part XIII,

the

text o f

the

footnote

t o

it s

financial statements

that

d es c ri be s t he se i te ms

b

I f

the

org aniz ation elec ted , a s permitted

under

SFAS

116 ASC

958),

t o

report

i n

it s

revenue state me nt a nd ba la nc e s he et

works o f

a r t ,

historical

treasures, or

other

similar assets held f o r public exhibition,

education,

or

research i n

furtherance o f public

service,

provide the

following

amounts relating t o these items


14/26

Sc he du le D ( Fo rm 990) 2014

Page

2

r:FTnFW

Organizations Maintaining Collections of rt

Historical Treasures

or Other Similar Assets c o n t i n u e d )

3 Using t h e o r ga n i z a t i o n s a c qu i s i ti o n , accession, and other r e c o r d s ,

check

any o f t h e

f o l l o w i n g

t ha t a re

a s i g n i f i c a n t

use o f

i t s

collection

items (check

a l l that apply)

a

F_

Public exhibition

d fl

Loan or exchange programs

b Scholarly

research

e

(- Other

c F

Preservation f o r future generations

4

Provide

a

description

o f

the organization s

collections an d explain

how

they

further the organization s

exempt

purpose i n

P art X I II

5 During the year,

d i d

the organization

s o l i c i t or

receive donations o f

a r t ,

historical treasures or other similar

assets t o

b e s o l d

t o

r a i s e funds r a t h e r than

t o

b e

maintained

a s p a r t

o f

t h e o r g an i za t i o n s c o l le c t i o n?

Yes

No

Escrow and

Custodial

Arrangements

Complete

i f

the

organization

answered

Yes

t o Form

990,

Part IV , l i n e 9 ,

or

reported an amount on Form

990,

Part X , l i n e 21 .

la I s the organization an agent, trustee,

custodian

or other intermediary

f o r

contributions or other

assets

not

included on

Form

990,

Part X7

Yes

F

No

b

If

Yes,

explain the arrangement i n

P art X II I

an d

complete the following table

c

Beginning balance

1c

d

Additions

during

the

year

ld

e

Distributions during

the year

le

f

Ending

balance

i f

Amount

2a Did

the

organization include an

amount

on F or m 9 90 ,

Part X , l i n e

2 1 ,

f o r

escrow or custodial

account l i a b i l i t y ?

Yes

No

b

If

Yes, explain

the

arrangement i n P art X II I Check here

i f the explanation has been

provided

i n P ar t X II I

MITIT

ndowment

Funds

om p l e t e

I f the

or g anization

answered

Yes

t o Form

990,

Part IV

l i n e 10 .

la

Beginning

o f

year b alance

b

Contributions

c

Net investment

earnings,

gains,

an d

losses

d

Grants or scholarships

e Other expenditures f o r f a c i li t ie s

an d programs

f Administrative expenses

g

En d o f

year b alance

(a)Current year (b)Prior

year

b

(c)Two

years back

(d)Three

y ea rs b ack (e) Four y ea rs b ack

2

Provide the

estimated

percentage o f the current

y e ar e nd b a la nc e l i n e

1g , column a ) ) held

as

a

Board designated

or

quasi endowment

b

Permanent

endowment

0

c

Temporarily

restricted endowment

0

The

percentages i n

l i n e s

2a ,

2b ,

a nd 2 c should

equal

100

3 a Ar e there endowment funds not i n the possession

o f

the organization that are held

and administered

f o r the

organization by

Yes No

i) unrelated organizations

3a(i)

i i)

related

organizations

3 a i i )

b

If Yes

t o

3 a i i ) ,

are the related organizations

l i s t e d

as required

on Schedule

R?

3 b

4

Describe

i n P art X II I

the intended

uses

o f the

organization s endowment

funds

Land

Buildings

and Equipment Complete i f the

organization

answered

Y e s t o Form

990,

Part I V , l i n e

a See Form 990 Part X l i n e 1 l

Description of

property

a ) Cost o r other

b a s i s

(investment)

(b)Cost or other

b a s i s o t he r )

c ) Accumulated

depreciation

(d) Book value

la

Land 15, 1 1 3, 946 1 5, 11 3 , 946

b Buildings

24,455, 644 7,856, 3 12 1 6, 599, 3 32

c

Leasehold

improvements

454,691 454,691

d Equipment 58,795, 841 3 9, 001 , 000 1 9,794,841

Sc he du le D F or m 990) 2014

Page 3


15/26

Investments-Other

Securities

Complete i f the

organization answered Y e s t o

Form 990, Part IV, l i n e 11b.

See

Form

99

Part

X

l i n e 12 .

a ) Description o f

security or

category b)Book value c ) Method o f

valuation

including name o f security) Cost or

end-of-year market

value

1

)Financial derivatives

2 )Closely-held

equity interests

Other

Total

Column b ) must equal Form 990,

Part

X , c o l B ) l i n e 12)

0

Related

Complete i f the

organization

answered

Y e s

t o Form 990, Part IV, l i n e 11c.

See

Form

990.

Part

X . l i n e 13 .

a ) Description

o f

investment b ) Book

value c )

Method o f

valuation

Cost or

end-of-year

market value

1 ) PATRONAGE CAPITAL-G T COOP SUPP LEND 52,283,666 C

2 ) PATRONAGE CAPITAL GRESCO

6,586,366

C

3 ) NRUCFC CAPITAL TERM

CERTIFICATES

3,269,534 C

4 )

PATRONAGE

CAPITAL

I N

ASSOCIATED ORGS 903,175 C

5 )

NRECA

DEFERRED OMP ASSETS 736,603

F

6 )

MEMBERSHIP

FEES

I N ASSOC ORG 2 , 1 00 C

Total

Column b ) must

equal

Form 990,

Part X ,

c o l B )

l i n e

13

63,781,444

Other Assets

Complete

i f

the organization answered

Yes t o

F or m 9 90 , P art I V ,

l i n e 11d

Se e Form

990,

Part X ,

l i n e

15

a) DescriDtion

b ) Book

value

Sc he du le D F or m 990) 2014

Page

4


16/26

Reconciliation

of

Revenue per Audited

Financial

Statements With Revenue p er R et ur n C om plet e i

the

or g anization

answered

Y e s t o Form

990

Part

IV

l i n e

12a.

1

Total

revenue, gains, and

other

support

per audited

f i n a n c i a l statements 1 372,417,950

2 Amounts included

on l i n e b ut n ot on

Form

990,

P art VIII,

l i n e 1 2

a

Ne t

u nrealize d gains l os ses

on investments 2a

b Donated services

a nd us e o f

f a c i l i t i e s 2b

c

Recoveries o f

p r i o r

year

grants 2c

d Other

Describe i n P ar t X II I 2d 8,010,138

e Add

l i n e s 2a

t hr ou gh 2 d 2e 8,010,138

3 Subtract l i n e 2e from l i n e 1 3 364,407,812

4

Amounts included

on

Form

990,

P art VIII,

l i n e

12 ,

b ut not on l i n e 1

a Investment expenses not included on F or m 9 90 , Part VIII,

l i n e 7b

4a

b Other Describe i n P ar t X II I

4b 742,281

c

Add

l i n e s

4a and

4b

4c 742,281

5 Total revenue

Add

l i n e s

3 and

4 c . This must equal F or m 9 90 ,

Part I l i n e 12

5 365,150,093

«

Reconciliation

of

Expenses per Audited

Financial

Statements With Expenses p er R et ur n

Complete

i

the

or g anization

answered

Y e s t o Form

990

Part

IV

l i n e

12a.

1

Total expenses

and

losses per audited f i n a n c i a l

statements 1

353,519,273

2 Amounts included

on l i n e

b ut not on

Form

990,

Part

IX , l i n e 2 5

a Donated

s erv ices a nd u se o f f a ci l i t i es

2a

b

Prior year

adjustments 2 b

c Other losses 2c

d

Other Describe i n

P art X II I

2d

e Add

l i n e s 2a

t hr ou gh 2 d 2e

3 Subtract l i n e 2e from l i n e 1 3 353,519,273

4 Amounts included on Form

990,

Part

IX , l i n e 25 , b ut n ot

on

l i n e 1 :

a Investment expenses not included on Form 990, Part

VIII,

l i n e

7b

4a

b

Other Describe i n P art X II I

4b 4,247,372

c

Add

l i n e s

4a and

4b

4c

4,247,372

5 Total expenses

Add

l i n e s 3

and

4 c . This must equal F or m 9 90 , Part

I l i n e 18

5 357,766,645

OT

4

u pp lemental In formation

Provide the

descriptions required

f o r Part I I

l i n e s

3 5 and 9 Part I I I

l i n e s la

and

4, Part

I V

l i n e s

lb and 2b ,

P art V ,

l i n e

4

Part

X

l i n e

2

Part

XI , l i n e s

2d

and 4b, and Part

XII,

l i n e s

2d

and

4b

Also

complete

t h i s

part

t o

provide any

additional

information

Return Reference Explanation

SCHEDULE D, PAGE 3 PART

X

THE COOPERATIVE

IS

A

NONPROFIT

ORGANIZATION EXEMPT FROM INCOME TAXES UNDER

THE

PROVISIONS

OF INTERNAL

REVENUE CODE SECTION

501 C 12

ACCORDINGLY,THERE

IS

NO PROVISION

FOR

INCOME TAXES

IN THE FINANCIAL

STATEMENTS

THE

COOPERATIVE

DOPTED CCOUNTING STANDARDS

CODIFICATION

ASC) 740, CCOUNTING FOR

UNCERTAINTY

IN

INCOME TAXES

THE IMPLEMENTATION OF THIS STANDARD HAD NO

IMPACT ON THE COOPERATIVE S FINANCIAL STATEMENTS

THE

COOPERATIVE DOES NOT

BELIEVE IT HAS

TAKEN

ANY

UNCERTAIN

TAX POSITIONS

THAT

WOULD

HAVE

A MATERIAL

EFFECT

ON

THE FINANCIAL

STATEMENTS

THE

COOPERATIVE S FORM 990 S

FOR THE PAST

THREE YEARS

ARE

OPEN TO EXAMINATION BY THE INTERNAL REVENUE

SERVICE

FOR

THE

YEARS ENDED DECEMBER 31 , 2014 AND 2013,THE COOPERATIVE FILED

FORM

990T FOR

UNRELATED

RENTAL INCOME ON

COMMUNIC TION

TOWERS

THE

MOUNT PAID OR

CCRUED W S

3,767 AND

2,089, RESPECTIVELY

SCHEDULE D, PAGE 4 PART XI ,

ASSIGNED

CAPITAL CREDITS

ACCRUED,

NOT PAID

8,010,138

LINE 2D

SCHEDULE D, PAGE 4 PART XI ,

CASH

RECEIVED

FROM

CAPITAL CREDITS PREVIOUSLY CCRUED 699,559 ANGEL FUND

LINE 4B

CONTRIBUTIONS

59,561

RENTAL EXPENSES NETTED ON STATEMENT

OF REVENUES -16,839

SCHEDULE D,

PAGE 4

PART

XII,

ANGEL

FUND EXPENSES 65,437 RETIREMENT

OF

CAPITAL CREDITS

4,198,774

RENTAL

LINE 4B EXPENSES NETTED ON STATEMENT OF REVENUES -16,839

S ch ed ul e D

Form

990

2013

ge 5


17/26

Schedule

D Form

990

2014

l

efile

GRAPHIC

p

rint

- DO NOT

PROCESS

As Filed Data - DLN:

93493225025045

Schedule I

OMB No

1545-0047


18/26

Form

990

)

Grants and Other

Assistance

t o

O r g a n i z a t i o n s ,

Governments a nd I n d i v i d u a l s i n t he U ni te d

States

2 0 1 4

Complete i f t h e or ga n i za t i on answered

Yes,

to Form 9 90, P ar t IV l i n e 21 or 22.

Department o f th e

Treasury

l i k

Attach to Form

990.

•

I n t e r n a l Revenue

Service Information about

Schedule

I

Form 990 and its i n st r u c t i on s is a t

www

irs.gov/form990

Name

o f the organization Employer identification

number

SUMTER ELE TRI OOPER TIVE INC

59-0469125

jlĵ l

G e n er a l I n f or ma t i on on G r a n t s and A s s i s t a n c e

1 Does

th e

organization maintain records t o substantiate

th e

amount o f

th e

grants or a s s i s t a n c e ,

th e

grantees' e l ig ib i li t y f o r

th e

grants or a s s is t a nc e , a n d

th e

selection c r i t e r i a

us ed

t o

award

th e grants or

a s s i s t a n c e ?

Yes

No

2

D e s c r i b e

i n Part IV

th e

Date post:	06-Jul-2018
Category:	Documents
Upload:	neil-gillespie
View:	217 times
Download:	0 times

2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization

Documents