2024-11-15T23:10:19-06:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 752791424 BIG COUNTRY ELECTRIC COOPERATIVE INC BIGC 3257762244 PO BOX 518 ROBY TX 795432020 N LATRICE BAUCOM VP OF FINANCE & ACCOUNTING 3257762244 2024-10-30 1 0 WILLIAM M MILLER P00439459 8067473806 2024-10-30 X 2023 2024-10-15 13:58:12Z MARK MCCLAIN PO BOX 518 ROBY TX 795432020 47153225 0 X WWW.BIGCOUNTRY.COOP X 1999 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 7 6 68 0 46827 45954 0 0 49526484 46616771 119229 211911 41346 52727 49687059 46881409 67084 31735 6259459 8908361 6776692 7034584 0 0 0 36654526 30886200 49757761 46860880 -70702 20529 114417646 125932465 51571341 55116386 62846305 70816079 TO BE THE FIRST-CHOICE ELECTRIC PROVIDER. THROUGH SAFE, RELIABLE, COMPETITIVE SERVICE, WE DELIVER QUALITY OF LIFE FOR OUR MEMBERS, COMMUNITIES, AND EMPLOYEES THAT BRING US ALL TOGETHER. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 13,561 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 132 0 68 1 1 1 0 0 0 0 46638940 576735 0 0 0 X 7 6 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X LATRICE BAUCOM VP FINANCE & ACCOUNTING 3257762244 1010 WEST SOUTH 1ST STREET ROBY TX 79543 X DAVID BEAVER SECRETARY/TREASURER 3.10 0.10 X X 11450 0 0 TODD COKER DIRECTOR 1.90 0.10 X 12750 0 0 CHRIS ESTES DIRECTOR 3.70 0.10 X 11750 0 0 DANNY HELMS VICE PRESIDENT 2.30 0.10 X X 12000 0 0 ZACHARY LOGAN DIRECTOR 3.60 0.10 X 13250 0 0 STEVE MOORE PRESIDENT 3.00 0.10 X X 11750 0 0 MATT MUELLER DIRECTOR 2.70 0.10 X 12000 0 0 NAOMI L BAUCOM VP FINANCE & ACCOUNTING 50.00 X 174536 0 62844 WILLIAM DUNIVEN VP OPERATIONS 50.00 X 142661 0 94409 LINDA KEY VP OFFICE SERVICES 46.00 X 190182 0 136018 DAVID M MCCLAIN CEO/GENERAL MANAGER 42.00 X 268441 0 168773 SARAH MCLEN VP MEMBER SERVICES 43.00 X 133072 0 53649 JOHN VANMATER VP ENGINEERING 45.00 X 145700 0 57191 MASON GUERRA FOREMAN 51.00 X 140965 0 41463 ROY HINKLE DISTRICT OP. MANAGER 54.00 X 199615 0 68252 MIKE MARTINEZ FOREMAN 56.00 X 153427 0 42108 CARY MCCLINTOCK DISTRICT MANAGER 41.00 X 144273 0 78257 GABRIEL VASQUEZ FOREMAN 55.00 X 159038 0 49615 1936860 0 852579 23 0 1 0 PRIMARY UTILITY SERVICES INC PO BOX 1393 SNYDER TX 79550 DISTRIBUTION WORK 3498040 COOKE ELECTRICAL CONTRACTING INC 1000 N FOREST ST AMARILLO TX 79106 DISTRIBUTION WORK 1232942 C&C SERVICES LLC PO BOX 1162 SNYDER TX 79550 DISTRIBUTION WORK 666365 JOSE VALENZUELA UNIQUE SOLUTIONS 1033 WALNUT ST ABILENE TX 79601 REMODELING SERVICES 661848 M&W POWER GROUP LLC PO BOX 368 TUSCOLA TX 79562 DISTRIBUTION WORK 204928 7 X SALES OF ELECTRICITY 221000 41880280 41880280 PATRONAGE DIVIDENDS 221000 4405717 4405717 SERVICE FEES 221000 234384 234384 OTHER PROGRAM REVENUE 221000 96390 96390 46616771 183286 183286 -877 0 -877 -877 -877 41174 12549 28625 28625 28625 185798 259267 -73469 -73469 POLE ATTACHMENT INCOME 221000 79369 79369 INTERNET COMMISSIONS 517000 47704 47704 127073 46881409 46543302 46827 291280 X 25735 6000 8908361 1712426 3599086 697395 677446 348231 1864966 3991349 PURCHASED POWER 22207283 DISTRIBUTION EXPENSE 1282082 ADMIN & GENERAL EXPENSE 1058398 UNRELATED BUS. INC. TAX 7434 474688 46860880 1001864 2709485 1578624 2278111 6487741 4463371 33000 19800 1387102 2035996 239510 308910 134230171 47112388 80366241 87117783 23183804 26838721 139760 160288 114417646 125932465 6096026 6429469 143070 46147 49023 43201098 45691043 2228070 2803781 51571341 55116386 X 132255 134080 0 0 62714050 70681999 62846305 70816079 114417646 125932465 X 20529 7949245 X X 0 1 X 1 0 0 1 X 179557 179557 5835780 2383342 3452438 127541945 44729046 82812899 672889 672889 87117783 PATRONAGE CAPITAL - CFC 1430659 C PATRONAGE CAPITAL - TEC 969300 C PATRONAGE CAPITAL - GSEC 21878845 C PATRONAGE CAPITAL - NISC 120119 C PATRONAGE CAPITAL - FEDERATED INSURANCE 169432 C PATRONAGE CAPITAL - NRTC 6316 C CAPITAL TERM CERTIFICATES - CFC 1200533 C MEMBERSHIPS IN OTHER COOPERATIVES 2335 C CONTRIBUTED CAPITAL - GSEC 992623 C GOLDEN SPREAD CTC RECEIVALBE 68559 C 26838721 CONSUMER DEPOSITS 451024 ACCRUED OPERATING TAXES 150268 DEFERRED CREDIT - UNCLAIMED PROPERTY 28736 DEFERRED CREDIT - DEFERRED INSTALLATION COSTS 751230 DEFERRED CREDIT - REDLG GRANTS ECONOMIC DEVELOPMENT GRANTS 360000 DEFERRED CREDIT - OTHER 3297 ACCUMULATED PROVISION - BENEFITS & PENSION 679341 OVERCOLLECTED POWER COST 204385 DEFERRED CREDIT - LARGE LOAD STUDIES 175500 2803781 X 46848719 -32690 -32690 46881409 0 46881409 37919829 0 37919829 8941051 8941051 46860880 PART IV, LINE 2B: PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A RURAL SCHOLARSHIP FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR SCHOLARSHIPS TO ENABLE STUDENTS FROM RURAL AREAS TO ATTEND COLLEGE, TECHNICAL SCHOOL OR OTHER POST SECONDARY EDUCATION INSTITUTION. ANY AMOUNTS SO DEPOSITED INTO THE RURAL SCHOLARSHIP FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ECONOMIC DEVELOPMENT FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER TEXAS STATE LAW. THE AMOUNTS DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED FOR THE STIMULATION AND IMPROVEMENT OF BUSINESS AND COMMERCIAL ACTIVITY FOR ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES. ANY AMOUNTS SO DEPOSITED INTO THE ECONOMIC DEVELOPMENT FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. ALSO PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED AN ENERGY EFFICIENCY ASSISTANCE FUND WITH AMOUNTS DESIGNATED UNCLAIMED UNDER STATE LAW. THE AMOUNTS DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE APPROVED BY THE STATE OF TEXAS AND CAN ONLY BE USED TO ASSIST MEMBERS OF AN ELECTRIC COOPERATIVE IN REDUCING THEIR ENERGY CONSUMPTION AND ELECTRICITY BILLS. ANY AMOUNTS SO DEPOSITED INTO THE ENERGY EFFICIENCY ASSISTANCE FUND ARE STILL PAYABLE TO THE PERSON TO WHOM THE ORIGINAL PAYMENT WAS MADE BUT UNCLAIMED. PART X, LINE 2: THE COOPERATIVE FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COOPERATIVE IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COOPERATIVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: NON-OPERATING EXPENSES RECLASSIFIED TO PART IX -32,690. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 8,908,361. NON-OPERATING EXPENSES RECLASSIFIED TO PART IX 32,690. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE COOPERATIVE FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE COOPERATIVE'S BYLAWS. 0 POST-SECONDARY SCHOLARSHIPS PAID DIRECTLY TO THE INSTITUTION IN WHICH THE AWARDED INDIVIDUAL IS ENROLLED AND APPLIED TO THE STUDENT'S ACCOUNT. 8 6000 8 SCHOLARSHIPS RANGING FROM $500 TO $2,000 PART II: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X X 1 0 X 0 0 0 DAVID M MCCLAIN CEO/GENERAL MANAGER 250875 0 995 0 16571 0 131689 0 37084 0 437214 0 0 0 LINDA KEY VP OFFICE SERVICES 175840 0 2070 0 12272 0 110503 0 25515 0 326200 0 0 0 ROY HINKLE DISTRICT OP. MANAGER 192005 0 1045 0 6565 0 42891 0 25361 0 267867 0 0 0 NAOMI L BAUCOM VP FINANCE & ACCOUNTING 163655 0 5695 0 5186 0 28139 0 34705 0 237380 0 0 0 WILLIAM DUNIVEN VP OPERATIONS 132054 0 6945 0 3662 0 61341 0 33068 0 237070 0 0 0 CARY MCCLINTOCK DISTRICT MANAGER 136284 0 2145 0 5844 0 48434 0 29823 0 222530 0 0 0 GABRIEL VASQUEZ FOREMAN 156417 0 920 0 1701 0 22475 0 27140 0 208653 0 0 0 JOHN VANMATER VP ENGINEERING 134313 0 6770 0 4617 0 23735 0 33456 0 202891 0 0 0 MIKE MARTINEZ FOREMAN 149739 0 920 0 2768 0 21094 0 21014 0 195535 0 0 0 SARAH MCLEN VP MEMBER SERVICES 125693 0 5945 0 1434 0 23403 0 30246 0 186721 0 0 0 MASON GUERRA FOREMAN 138710 0 895 0 1360 0 14166 0 27297 0 182428 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - PURSUANT TO APPLICABLE TRAVEL POLICIES, AND WITH PRIOR APPROVAL FOR A BONA FIDE BUSINESS PURPOSE, THE COOPERATIVE WILL REIMBURSE DIRECTORS FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. EMPLOYEES ARE REQUIRED TO REIMBURSE THE COOPERATIVE FOR RESPECTIVE SPOUSAL TRAVEL COSTS. DURING THE YEAR, TWO DIRECTORS (BEAVER AND LOGAN) WERE REIMBURSED FOR EXPENSES RELATED TO SPOUSAL TRAVEL. GYM/FITNESS REIMBURSEMENT - ONE INDIVIDUAL REPORTED ON FORM 990 PART VII, JOHN VANMATER, RECEIVED THIS BENEFIT DURING THE YEAR. PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. DAVID M. MCCLAIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 119,091 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,598 TOTAL REPORTED IN COLUMN C $ 131,689 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (119,091) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 119,091 EXPENSE TO THE COOPERATIVE $ 131,689 LINDA KEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 101,668 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,835 TOTAL REPORTED IN COLUMN C $ 110,503 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (101,668) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 101,668 EXPENSE TO THE COOPERATIVE $ 110,503 ROY HINKLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 33,301 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,590 TOTAL REPORTED IN COLUMN C $ 42,891 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (33,301) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,301 EXPENSE TO THE COOPERATIVE $ 42,891 NAOMI BAUCOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,912 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,227 TOTAL REPORTED IN COLUMN C $ 28,139 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,912) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,912 EXPENSE TO THE COOPERATIVE $ 28,139 WILLIAM DUNIVEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,691 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,650 TOTAL REPORTED IN COLUMN C $ 61,341 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,691) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,691 EXPENSE TO THE COOPERATIVE $ 61,341 CARY MCCLINTOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,657 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,777 TOTAL REPORTED IN COLUMN C $ 48,434 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,657) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,657 EXPENSE TO THE COOPERATIVE $ 48,434 GABRIEL VASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,588 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,887 TOTAL REPORTED IN COLUMN C $ 22,475 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,588) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,588 EXPENSE TO THE COOPERATIVE $ 22,475 JOHN VANMATER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,009 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,726 TOTAL REPORTED IN COLUMN C $ 23,735 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,009) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,009 EXPENSE TO THE COOPERATIVE $ 23,735 MIKE MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,571 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,523 TOTAL REPORTED IN COLUMN C $ 21,094 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,571) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,571 EXPENSE TO THE COOPERATIVE $ 21,094 SARAH MCLEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,087 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,316 TOTAL REPORTED IN COLUMN C $ 23,403 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,087) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,087 EXPENSE TO THE COOPERATIVE $ 23,403 MASON GUERRA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,188 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,978 TOTAL REPORTED IN COLUMN C $ 14,166 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,188) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 7,188 EXPENSE TO THE COOPERATIVE $ 14,166 ARRON DUNIVEN FAMILY RELATIONSHIP (VP WILLIAM DUNIVEN) 118325 FIELD ENGINEERING MANAGER 0 PART VI, SECTION A, LINE 1B: PER 990 INSTRUCTIONS, DIRECTOR DUNIVEN IS NOT INDEPENDENT DUE TO A FAMILY MEMBER ENGAGING IN A TRANSACTION WITH THE COOPERATIVE. THE TRANSACTION IS KNOWN TO ALL MEMBERS OF THE BOARD. FORM 990, PART I, LINE 19: IN GENERAL, WHEN AN ELECTRIC COOPERATIVE BASES THE PATRONAGE DIVIDEND CALCULATION ON ITS NET BOOK INCOME/(LOSS), PAGE 1, PART I, LINE 19 - REVENUE LESS EXPENSES - WILL BE $0. FOR THE CURRENT YEAR, PAGE 1, PART I, LINE 19 REPORTS NET INCOME OF $20,529, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE. THE GAAP BASIS FINANCIAL STATEMENTS INCLUDE AN ACCRUAL FOR UNBILLED REVENUE BECAUSE THE COOPERATIVE'S BILLING CYCLE DOES NOT END ON THE LAST DAY OF THE MONTH. THEREFORE, IT HAS REVENUE IN DECEMBER OF EACH YEAR THAT IT HAS EARNED BUT WILL NOT BILL UNTIL THE FIRST BILLING CYCLE OF THE FOLLOWING YEAR. THE COOPERATIVE ESTIMATES THIS REVENUE AND RECORDS IT AS ACCRUED UNBILLED REVENUE IN ORDER TO MATCH THE REVENUE WITH THE YEAR EARNED. HOWEVER, THE COOPERATIVE ALLOCATES THE REVENUE TO MEMBERS IN THE YEAR IT IS BILLED RATHER THAN WHEN ACCRUED. THIS TIMING DIFFERENCE IS FAIR AND EQUITABLE BECAUSE IT MATCHES THE PATRONAGE DIVIDEND ALLOCATED WITH THE BILLING RECORDS USED TO ALLOCATE THE MARGINS. DUE TO THE TIMING OF WHEN THE COOPERATIVE ALLOCATES ACCRUED UNBILLED REVENUE, PAGE 1, PART I, LINE 19 ANNUALLY REPORTS NET INCOME EQUAL TO THE NET INCREASE IN ACCRUED UNBILLED REVENUE OR A NET LOSS EQUAL TO THE NET DECREASE IN UNBILLED REVENUE. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: ADD: UNBILLED REVENUE 12/31/23 $ 148,482 LESS: UNBILLED REVENUE 12/31/22 (127,953) NET DECREASE IN UNBILLED REVENUE EQUAL TO NET INCOME ON PAGE 1, PART I, LINE 19 $ 20,529 (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $ 8,908,361 TOTAL 2023 NET MARGIN PER FINANCIAL STATEMENTS (A + B) $ 8,928,890 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSET 4. AMENDMENT TO THE ARTICLES OF INCORPORATION FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVEIW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE'S ATTORNEY REVIEWS THE COOPERATIVE'S POLICIES, SPECIFICALLY THE COOPERATIVE'S CONFLICT OF INTEREST POLICY, WITH THE BOARD ANNUALLY. DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. AT THE BOARD'S DISCRETION, A DIRECTOR WITH A POSSIBLE CONFLICT OF INTEREST WILL ABSTAIN FROM VOTING ON RELATED TRANSACTIONS. BOARD MINUTES NOTE ANY POSSIBLE CONFICT OF INTEREST INQUIRIES. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE BOARD OF DIRECTORS PERFORM A REVIEW AND UTILIZE INTERNAL RESOURCES WHEN DETERMINING THE COMPENSATION OF THE CEO. THE CEO UTILIZES AN INDPENDENT CONSULTANT AND COMPENSATION SURVEY TO DETERMINE THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEE, IF ANY. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS IS PROVIDED TO ANY MEMBER WHO REQUESTS A COPY. THE COOPERATIVE'S BYLAWS ARE ALSO AVAILABLE ON ITS WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, VISION AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES ARE THE TOTAL CONTRIBUTIONS MADE BY THE COOPERATIVE TO THE PENSION PLANS AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX: ALTHOUGH THE COOPERATIVE IS NO LONGER A RURAL UTILITY SERVICES (RUS) BORROWER, ITS ACCOUNTING RECORDS ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH ITS ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 5,311,512 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (84,950) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (572,884) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 1,671 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,382,960 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 243,864 TOTAL WAGES ACCRUED AND/OR PAID $ 6,282,173 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,056,212 OFFICE SUPPLIES 60,714 OUTSIDE SERVICES 80,841 DIRECTORS 106,093 ASSOCIATION DUES 63,416 ADVERTISING 139,446 PUBLIC RELATIONS 110,503 MISCELLANEOUS GENERAL 147,209 ANNUAL MEETING 65,379 REGULATORY COMMISSION 70,336 PROPERTY INSURANCE 42,958 INJURIES AND DAMAGES 69,102 MAINTENANCE OF GENERAL PLANT 487,641 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 3,499,850 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (31,735) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (84,950) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,556,732) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (768,035) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,058,398 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PATRONAGE 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 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 BYLAWS. 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 2023 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, PART IX, LINE 24E: OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: CONSUMER EXPENSES $ 417,522 TAXES 24,476 OTHER DEDUCTIONS 32,690 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 474,688 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 8,908,361. PATRONAGE CAPITAL RETIRED - TOTAL -1,021,649. PATRONAGE CAPITAL RETIRED - DISCOUNT 33,164. NET CHANGE IN MEMBERSHIPS 1,825. OTHER COMPREHENSIVE INCOME (LOSS) 27,544. FORM 990, PART XII, LINE 2C: THE BOARD HAS AN AUDIT SUBCOMMITTEE RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. BIG COUNTRY ELECTRIC COOPERATIVE TRUST PO BOX 518 ROBY TX 79543 472677471 DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE CO-OP'S SERVICE AREA. TX 501(C)(3) LINE 7 BIG COUNTRY ELECTRIC COOPERATIVE 1 BIG COUNTRY DEVELOPMENT CORPORATION PO BOX 518 ROBY TX 795430518 752381083 ATTRACTING NEW INDUSTRY OR RETAINING INDUSTRY IN THE AREA TX BIG COUNTRY ELECTRIC COOPERATIVE INC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 BIG COUNTRY ELECTRIC COOPERATIVE TRUST N N/A - LESS THAN $50,000 BIG COUNTRY ELECTRIC COOPERATIVE TRUST O N/A - LESS THAN $50,000