2024-11-06T10:17:27-05:00 2023-12-31 710818324 THOMAS SPEIGHT & NOBLE CPA'S PO BOX 17167 JONESBORO AR 724036721 990 2023-01-01 710195390 WOODRUFF ELECTRIC COOPERATIVE CORP WOOD 8706332262 PO BOX 1619 FORREST CITY AR 72335 MICHAEL L SWAN PRESIDENT/CEO 8706332262 2024-10-31 true true JEFF L WICKER CPA P00338877 8709325858 2024-10-30 2023 2024-10-15 13:58:12Z MICHAEL L SWAN PO BOX 1619 FORREST CITY AR 723361619 53677442 false X WWW.WOODRUFFELECTRIC.COM X 1937 AR TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 9 9 80 973249 0 58493061 53335814 489124 533820 51321 -274096 59033506 53595538 0 4528117 6079847 6229190 6478090 0 0 48276199 41196996 59033506 53754933 -159395 206489107 230762093 114670577 134123038 91818530 96639055 TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. false false 53754933 PROVIDE ELECTRICITY - RURAL AREAS, 24,329 TOTAL SERVICES IN PLACE AT YEAR END. 53754933 false false false false false false false false false true true false false true false true false false false false false false false false false false false false true false false false false false false false false false false true false false false true 21 0 80 true true true false false false false 49972979 2662808 false false false X 9 9 false false false false true true true true true false false true true true true true true false false false X WOODRUFF ELECTRIC COOPERATIVE CORP 8706332262 3201 HIGHWAY 1 NORTH FORREST CITY AR 72335 MICHAEL L SWAN PRESIDENT/CE 50.00 X 264966 0 129011 RONALD L COCKMON VP-OFFICE SE 50.00 X 174640 0 98281 JIMMY R COOK VP-ENGINEERI 50.00 X 157941 0 80651 GLENN M KELLEY VP-INFORMATI 50.00 X 142650 0 84211 RODNEY KELSO VP - OPERATI 50.00 X 140573 0 82524 EDWARD MILTON DISTRICT MAN 50.00 X 117324 0 72950 NORMA HAWKINS VP OF HUMAN 50.00 X 121898 0 62142 KEVIN SCOTT VP - CORPORA 50.00 X 112946 0 70597 AB THOMPSON JR DIRECTOR 6.46 X 34179 0 0 JERRY BROWN DIRECTOR 7.08 X 32738 0 0 CHARLES C BURROW III DIRECTOR 7.38 X 30726 0 0 JOE WHITTENTON III DIRECTOR 4.46 X 29325 0 0 SHELIA BANKS DIRECTOR 7.38 X 27344 0 0 W WAYNE BEADLES DIRECTOR 3.69 X 25179 0 0 JIMMY N BICKERSTAFF DIRECTOR 3.53 X 24179 0 0 BRENT PONDER DIRECTOR 7.23 X 17762 0 0 BILL RUSHING DIRECTOR 3.54 X 5762 0 0 1460132 680367 9 false true false STUART C IRBY CO PO BOX 843959 DALLAS TX 75284 FIBER PROJECT 8998975 D & H CONTRACTING INC 160 LAWRENCE 223 ROAD BLACK ROCK AR 72415 FIBER CONSTR. 8666541 WEST TREE SERVICE INC 6300 FORBING RD LITTLE ROCK AR 72209 ROW MAINTENANCE 1452291 AECI CONSTRUCTION SERVICES PO BOX 194208 LITTLE ROCK AR 72219 SUBSTATION WORK 553698 MS TN TRANSFORMERS INC PO BOX 1764 GREENWOOD MS 38935 TRANSFORMER REP 511795 5 OPERATING REVENUES 50294828 50294828 G&T AND OTHER CAPITAL CREDITS 2067737 2067737 ENLIGHTENED BY WECC 517000 973249 973249 53335814 533820 533820 130522 81904 48618 48618 INCOME FROM SUBSIDIARY -322714 -322714 -322714 53595538 52622289 973249 X 6079847 6079847 1132684 1132684 5345406 5345406 31326350 31326350 3848042 3848042 6022604 6022604 53754933 53754933 0 0 970379 460209 8586879 10563012 3697760 4226551 1784188 2125029 1909282 1671536 239934976 48817500 168884060 191117476 20387547 20298969 269012 299311 206489107 230762093 3285929 1910407 105959091 126801489 5425557 5411142 114670577 134123038 X 206220 205640 83600471 86751310 8011839 9682105 91818530 96639055 206489107 230762093 X -159395 4979920 X false true X true false 1361227 1361227 20816461 3158145 17658316 14951937 11015881 3936056 202805351 34643474 168161877 191117476 INVESTMENTS IN ASSOC ORGANIZATIONS 15506125 C INVESTMENT IN ENLIGHTENED BY WECC 3049034 C INVESTMENTS IN CAP TERM CREDITS-CFC 1401305 C OTHER INVESTMENTS IN ASSOC ORGS 518436 C RENEW - REPLACE FUND-INV MONEY MKT 201722 C OTHER SPECIAL FUNDS - DEFERRED COMP 104205 C OTHER INVESTMENTS 250 C INVESTMENT IN ENLIGHTENED BY WECC -482108 C 20298969 CONSUMER DEPOSITS 1812003 PATRONAGE CAPITAL PAYABLE 1635767 ACCRUED PROPERTY TAX 1349170 ACCRUED STATE SALES TAX 260351 EMPLOYEES VACATION 234737 ACCUMULATED OTHER PROVISIONS 104205 ACCRUED INTEREST PAYABLE 48615 OTHER -33706 5411142 53595538 53595538 53595538 48451721 48451721 5303212 5303212 53754933 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE ALLOCATIONS - DIFF IN TAX VS GAAP 4,821,105 LOSS FROM SUBSIDIARY 482,107 X false false false MICHAEL L SWAN PRESIDENT/CEO 264966 129011 393977 RONALD L COCKMON VP-OFFICE SERVICES 174640 98281 272921 JIMMY R COOK VP-ENGINEERING SVCS 157941 80651 238592 GLENN M KELLEY VP-INFORMATION SERVI 142650 84211 226861 RODNEY KELSO VP - OPERATIONS 140573 82524 223097 EDWARD MILTON DISTRICT MANAGER 117324 72950 190274 NORMA HAWKINS VP OF HUMAN RESOURCE 121898 62142 184040 KEVIN SCOTT VP - CORPORATE SERV 112946 70597 183543 FORM 990 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO MEMBERS (HEREINAFTER REFERRED TO AS "PATRONAGE DIVIDENDS PAID") REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PARTRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'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 COOPERATIVE 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 COOPERATIVE'S CALENDAR TAX 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 COOEPRATIVE'S BY-LAWS. 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 COOPERATIVE FOR THE CURRENT CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE 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, PAGE 6, PART VI, LINE 6 MEMBERS FORM 990, PAGE 6, PART VI, LINE 7A THE MEMBERS ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 7B THE MEMBERS APPROVE SIGNIFICANT DECISIONS OF THE DOCUMENTS OR BYLAWS REGARDING COMPENSATION OF OFFICERS AND GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B INTERNAL REVIEW BY ACCOUNTING STAFF, PRESIDENT/CEO, AND GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 12C OUR POLICY REQUIRES DIRECTORS AND EMPLOYEES TO REPORT ANY POTENTIAL CONFLICT OF INTEREST. ANY OBSERVED AND NOT REPORTED CONFLICT OF INTEREST BY OTHER STAFF OR DIRECTORS WILL BE ADDRESSED FOR COMPLIANCE. FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE TO THE PUBLIC AT THEIR REQUEST. FORM 990, PART IX, LINE 11G COST OF POWER 23,362,229 0 0 TRANSMISSION-MAINTENANCE 26,688 0 0 DISTRIBUTION-OPERATION 5,208,112 0 0 DISTRIBUTION-MAINTENANCE 3,378,754 0 0 CUSTOMER ACCOUNTS EXPENSE 1,292,155 0 0 CUSTOMER SERVICES & INFO 461,603 0 0 ADMIN & GENERAL EXPENSE 2,961,595 0 0 TAXES 1,991 0 0 OTHER DEDUCTIONS 9,840 0 0 EMPLOYEE COMP REPORTED ABOVE -6,478,090 0 0 ENLIGHTENED BY WECC TRANSMISSION EXP 45,439 0 0 DISTRIBUTION EXP-MAINT 601,524 0 0 CUSTOMER ACCTS EXPENSE 40,351 0 0 CUSTOMER SERVICES & INFO 8,861 0 0 ADMIN & GENERAL 405,298 0 0 TOTAL 31,326,350 0 0 FORM 990, PART XI RETIREMENT OF CAPITAL CREDITS, CHANGE IN MEMBERSHIPS, AND OTHER MISC. FORM 990, PART XI, LINE 9 TEMP DIFF BETWEEN ALLOCATED AND RETIRED CAP CREDIT 4,702,569 ENLIGHTENED PARTRONAGE DIFFERENCE 277,931 CHANGE IN MEMBERSHIPS -580 TOTAL 4,979,920 ENLIGHTENED BY WOODRUFF ELECTRIC LL PO BOX 1619 FORREST CITY AR 72336 861723350 BROADBAND AR 932438 4021352 WECC WOODRUFF ELECTRIC COOP CORP