2024-10-22T16:30:49-05:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 750693840 NORTH PLAINS ELECTRIC COOPERATIVE INC NORT 8064355482 PO BOX 1008 PERRYTON TX 79070 RANDY MAHANNAH EXECUTIVE VP/GENERAL MANAGER 8064355482 2024-10-17 1 0 WILLIAM M MILLER P00439459 8067473806 2024-10-17 X 2023 2024-10-15 13:58:12Z RANDY MAHANNAH PO BOX 1008 PERRYTON TX 79070 44312811 0 X WWW.NPEC.ORG X 1944 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 9 9 56 0 48219 32806 0 0 53597433 43712481 172434 517870 42602 74116 53812469 44304467 21156 16133 2626710 8795052 3476488 3561353 0 0 0 45475517 31375454 51599871 43747992 2212598 556475 118894294 124128701 60296435 58783395 58597859 65345306 NORTH PLAINS ELECTRIC COOPERATIVE'S CORE MISSION IS TO EXCEED MEMBER EXPECTATIONS BY PROVIDING SAFE AND RELIABLE ELECTRIC SERVICE IN AN ECONOMICALLY AND ENVIRONMENTALLY RESPONSIBLE MANNER. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 7,224 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 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 38 0 56 1 1 1 0 0 0 0 38111329 1811433 0 0 0 X 9 9 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 0 1 1 0 X JENNIFER ROBERTS CFO 8064355482 PO BOX 1008 PERRYTON TX 79070 X JAMES GREENE PRESIDENT 10.00 X X 35429 0 0 DAVID SELL SECRETARY/TREASURER 4.30 X X 32195 0 0 STEVEN WAIDE DIRECTOR 3.20 X 32133 0 0 ALLEN WEBB DIRECTOR 3.10 X 31595 0 0 JOHNNIE YOUNG VICE PRESIDENT 3.20 X X 30995 0 0 RICHARD SCHAD DIRECTOR 3.00 X 30795 0 0 TRAVIS PATTERSON DIRECTOR 4.20 X 31595 0 0 JAMES BORN DIRECTOR 4.00 X 31533 0 0 DENNIS TYSON DIRECTOR 2.50 X 30333 0 0 RANDY MAHANNAH EXECUTIVE VP & GENERAL MANAGER 40.00 X 231206 0 50103 JENNIFER ROBERTS CHIEF FINANICAL OFFICER 40.00 X 108979 0 11238 JESSE BURKHALTER CREW FOREMAN 48.00 X 104643 0 38246 RICHARD HOLDEMAN SERVICEMAN 46.00 X 100639 0 38337 RONALD HARVEY OPERATIONS SUPERVISOR 40.00 X 116589 0 46179 948659 0 184103 5 0 1 0 CUSTOM ENERGY SERVICES INC 27583 HWY 34 SHARON OK 73857 LINE CONSTRUCTION CONTRACTORS 208525 1 X SALES OF ELECTRICITY 221000 37958765 37958765 PATRONAGE DIVIDENDS RECEIVED 221000 5624156 5624156 OTHER PROGRAM REVENUE 221000 101483 101483 SERVICE FEES 221000 28077 28077 43712481 517375 517375 8299 4706 6844 0 1455 4706 6161 4706 1455 1995 1500 495 495 495 GENERATOR SALES REVENUE 221000 38694 23004 15690 WI-POWER REVENUE 517000 27823 27823 POLE ATTACHMENT INCOME 221000 1438 1438 67955 44304467 43735980 48219 520268 X 16133 8795052 688129 1659825 124781 938722 149896 1620420 3101629 PURCHASED POWER 24130122 DISTRIBUTION EXPENSE 1550683 ADMINISTRATIVE & GENERA 664484 UNRELATED BUSINESS INCO 1768 306348 43747992 1151331 595356 9093436 8118343 2402440 1721341 16776 84972 3718653 4135326 373405 460145 108423144 34093687 72550088 74329457 29530827 34615513 57338 68248 118894294 124128701 1345485 1752857 183485 155830 58184450 56256999 583015 617709 60296435 58783395 X 0 0 0 0 58597859 65345306 58597859 65345306 118894294 124128701 X 556475 6190972 X X 0 1 X 0 0 0 1 X 856706 856706 2261501 1213822 1047679 100314226 32879865 67434361 4990711 4990711 74329457 PATRONAGE CAPITAL - GSEC 30672425 C PATRONAGE CAPITAL - CFC 70030 C PATRONAGE CAPITAL - TEC 753022 C PATRONAGE CAPITAL - NISC 54179 C PATRONAGE CAPITAL - FEDERATED 94141 C PATRONAGE CAPITAL - COBANK 62386 C PATRONAGE CAPITAL - NRTC 1384 C MEMBERSHIPS & OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 27202 C CAPITAL TERM CERTIFICATES 481978 C POST RETIREMENT BENEFITS, NET 2136079 C OTHER INVESTMENTS 262687 C 34615513 UNCLAIMED CAPITAL CREDIT & MEMBERSHIP CHECKS 525712 OTHER LIABILITIES 8887 CWIP AID IN CONSTRUCTION 83110 617709 X 44275600 0 44275600 28867 28867 44304467 34924073 0 34924073 8823919 8823919 43747992 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. PART X, LINE 2: THE COOPERATIVE UTILIZES 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 THEIR TAX POSITIONS 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 4B - OTHER ADJUSTMENTS: RECLASSIFIED EXPENSES 28,867. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ASSIGNABLE 8,795,052. RECLASSIFIED FROM REVENUES 28,867. 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. X 1 1 X X 0 0 0 RANDY MAHANNAH EXECUTIVE VP & GENERAL MANAGER 204224 0 768 0 26214 0 15750 0 34353 0 281309 0 0 0 RONALD HARVEY OPERATIONS SUPERVISOR 108920 0 812 0 6857 0 10447 0 35732 0 162768 0 0 0 PART I, LINE 1A PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE DIRECTORS AND EMPLOYEES FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. SIX INDIVIDUALS REPORTED ON FORM 990 PART VII (GREENE, PATTERSON, SCHAD, SELL, WEBB, AND YOUNG) RECEIVED THIS BENEFIT DURING THE YEAR. MICHAEL ROBERTS FAMILY RELATIONSHIP - OFFICER (J.ROBERTS) 74513 EMPLOYMENT 0 TATE WILLIAMS FAMILY RELATIONSHIP - OFFICER (J.ROBERTS) 10348 EMPLOYMENT 0 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 $556,475, WHICH IS THE EFFECT OF THE RETAINAGE OF NON-OPERATING MARGINS. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: (A) - NON-OPERATING MARGINS RETAINED $ 556,475 (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $ 8,795,052 TOTAL 2023 NET MARGIN PER FINANCIAL STATEMENTS (A + B) $ 9,351,527 FORM 990, PART VI, SECTION A, LINE 2 A BUSINESS RELATIONSHIP EXISTS BETWEEN DAVID SELL (DIRECTOR) AND RANDY MAHANNAH (OFFICER). BOTH SERVE ON THE BOARD OF GOLDEN SPREAD ELECTRIC COOPERATIVE AT THE REQUEST OF AND FOR THE BENEFIT OF THE COOPERATIVE. 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 ASSETS 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 PROVIDED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE COOPERATIVE WILL REQUIRE THE BOARD OF DIRECTORS AND OFFICERS TO COMPLETE AND SIGN A CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORM. 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. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE SURVEY SHOWS COMPARATIVE SALARIES FOR GENERAL MANAGERS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN TEXAS AND THE NATION. INTERNAL AND/OR EXTERNAL RESOURCES ARE ALSO USED TO COMPARE ANNUAL COMPENSATION WITHIN THE INDUSTRY. THE BOARD AND THE GENERAL MANAGER USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILARLY SITUATED COOPERATIVES THROUGHOUT TEXAS AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. THE BYLAWS CAN ALSO BE FOUND ON THE COOPERATIVE'S 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, WITH YEARS OF SERVICE TAKEN INTO CONSIDERATION. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL, AND VISION INSURANCE TO ALL ELIGIBLE EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN 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, LINE 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 $ 2,347,954 LESS: TRUSTEE FEES REPORTED ON FORMS 1099-NEC (286,603) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (61,341) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,046,517 PLUS: SALARIES ALLOCATED TO NON-OPERATING MARGINS 7,909 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 200,906 TOTAL WAGES ACCRUED AND/OR PAID $ 3,255,342 FORM 990, PART IX, LINE 24: ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 856,012 OFFICE SUPPLIES 80,985 OUTSIDE SERVICES 111,186 UTILITIES 3,900 ANNUAL MEETING EXPENSE 52,871 REGULATORY COMMISSION EXPENSE 65,191 MISCELLANEOUS GENERAL 85,806 DIRECTORS 315,244 EMPLOYEE DUES & MEMBERSHIPS 50,138 MAINTENANCE OF GENERAL PLANT 247,837 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 1,869,170 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (16,133) LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (286,603) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (550,854) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (351,096) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 664,484 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: CONSUMER EXPENSE $ 169,804 GENERAC GENERATORS EXPENSE 27,099 TAXES 22,241 TRANSMISSION EXPENSE 87,139 OTHER DEDUCTIONS 65 TOTAL OTHER EXPENSES PER FORM 990, PART IX $ 306,348 FORM 990, PART IX: THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS (USOA) AS 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 THEIR 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, LINE 1: 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. EACH GRANT, SPONSORSHIP, AND/OR DONATION MADE DURING THE YEAR WAS BELOW THE REPORTING THRESHOLD OF SCHEDULE I, PART II. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ASSIGNABLE 8,795,052. PATRONAGE CAPITAL RETIRED - TOTAL -2,761,979. OCI - PENSION & BENEFITS 111,812. PATRONAGE CAPITAL RETIRED - DISCOUNT 46,087.