2024-11-13T07:59:38-06:00 2024-06-30 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2023-07-01 630332310 Mon-Cre Telephone Co-op MON- 3345623242 P O Box 125 Ramer AL 36069 Teresa Rich General Manager 3345623242 2024-11-11 1 1 Patrick Cooper P00856177 3348347660 2024-11-05 2023 2024-10-15 13:58:12Z Teresa Rich P O Box 125 Ramer AL 36069 8242472 0 X www.mon-cre.net X 1952 AL To provide telecommunication services to its members on the cooperative basis. 9 9 21 0 919 0 0 0 7107633 7891111 288201 225578 93303 125783 7489137 8242472 0 0 761269 1695136 519257 532296 0 0 0 6188589 6102718 7469115 8330150 20022 -87678 28502391 28607245 12213734 10745462 16288657 17861783 It shall be the aim of Mon-Cre Telephone Cooperative, Inc. to provide dependable area-wide services on the cooperative plan and at the lowest cost consistent with sound economy and good management. 0 0 Mon-Cre Telephone Cooperative, Inc. provided telecommunication services to approximately 2,000 members located in Montgomery, Crenshaw, Pike, and Bullock counties. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 1 21 1 0 0 0 0 0 0 0 4107442 324008 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 0 1 1 1 1 0 X Teresa Rich 3345623242 227 Main Street Ramer AL 36069 Danny Sikes Trustee 5.00 X 1160 0 0 Thomas Boyd Trustee 5.00 X 951 0 0 Ron McGough Trustee 5.00 X 1182 0 0 James May Trustee 5.00 X 1046 0 0 Mike Moseley Trustee 5.00 X 1000 0 0 Chris Parris Trustee 5.00 X 1041 0 0 Jared Bragg Trustee 5.00 X 1168 0 0 Elizabeth Armistead Trustee 5.00 X 1013 0 0 Brenda Herring Trustee 5.00 X 1176 0 0 Teresa Rich General Manager 50.00 X 173267 0 61078 Beverly Hussey CFO 40.00 X 104505 0 25613 Derrick Deese Network Operations Manager 40.00 X 114877 0 43219 402386 0 129910 3 0 1 0 0 Telephone Service Rev 517000 4787350 4787350 Internet/Cellular/Long 517000 3103761 3103761 7891111 112369 112369 113209 0 113209 113209 113209 Other Nonoperating Inc 900099 124864 124864 Directory Advertising 541800 919 919 125783 8242472 8015975 919 225578 1695136 532296 518468 1407203 Nonregulated Expenses 1904721 Plant Specific Operatio 874382 Plant Nonspecific Opera 540384 Corporate Operations 350552 507008 8330150 1219425 1675350 269124 290672 1539350 1430268 200585 258887 49591516 29306143 21916616 20285373 3067126 3373006 194489 251877 95676 1041812 28502391 28607245 421963 496269 11700488 10160439 91283 88754 12213734 10745462 X 39470 42670 0 0 16249187 17819113 16288657 17861783 28502391 28607245 X -87678 87678 1573126 X 0 1 X 1 0 133280 133280 1908722 866436 1042286 47549514 28439707 19109807 20285373 Customer Deposits 71125 Accrued Labor 17629 88754 X 8418380 87678 88230 175908 8242472 0 8242472 6776471 88230 88230 6688241 1641909 1641909 8330150 Part X, Line 2: Income taxes - To be considered a tax-exempt entity, the Cooperative must derive at least 85% of its revenue from member activities. If the Cooperative derives more than 15% of its revenue from non-member activities, it loses its tax-exempt status for that year. The Cooperative accounts for income taxes in accordance with the Income Taxes Topic of the FASB Accounting Standards Codification. This topic requires companies to record deferred tax liabilities or assets for the deferred tax consequences of all temporary differences. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Management evaluated the Cooperative's tax positions and concluded that the Cooperative had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. Part XI, Line 2d - Other Adjustments: Netting of revenues and expenses 88,230. Part XII, Line 2d - Other Adjustments: Netting of revenues and expenses 88,230. Part XII, Line 4b - Other Adjustments: Capital credit allocations 1,641,909. X X 0 0 0 Teresa Rich General Manager 173267 0 0 0 0 0 42391 0 18687 0 234345 0 0 0 Derrick Deese Network Operations Manager 114877 0 0 0 0 0 25813 0 17406 0 158096 0 0 0 Form 990, Part VI, Section A, line 6 Mon-Cre Telephone Cooperative, Inc. is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the cooperative's bylaws. Form 990, Part VI, Section A, line 7a The Board of Trustees of Mon-Cre Telephone Cooperative, Inc. consists of nine members who are elected by secret ballot at the time of the annual meeting of the members. There are three trustees elected each year, each serving a three year term, so that the total number of trustees shall be nine. Trustees may be elected by a plurality vote of the members. Form 990, Part VI, Section A, line 7b The membership must approve decisions that involve substantial transfers of cooperative assets, amendments to the cooperative's bylaws, as well as other decisions requiring approval of the membership by law, the articles of incorporation, and/or the cooperative's bylaws. Form 990, Part VI, Section B, line 11b The General Manager reviewed the Form 990 before it was presented to the Board of Trustees. A member of the accounting firm who assisted in preparing the Form 990 attended a board meeting and presented the Form 990 before it was filed. Form 990, Part VI, Section B, line 15 The General Manager's compensation and the departmental managers' salaries are determined by the Board of Trustees. The NTCA compensation survey has been used in past years to aid in determining the compensations. Form 990, Part VI, Section C, line 19 The cooperative's governing documents, financial statements, and Form 990 are available to the public upon request at its main office in Ramer, Alabama. Form 990, Part XI, line 9: Capital Credit Retirements -116,086. Memberships issued 3,200. Other Comprehensive Income -9,124. Capital Credit Allocations 1,695,136.