2025-11-17T16:00:14-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 720170797 DIXIE ELECTRIC MEMBERSHIP CORPORATION DIXI 8446933626 PO BOX 15659 BATON ROUGE LA 70895 RANDALL PIERCE CEO & GENERAL MANAGER 8446933626 2025-11-17 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-17 X 2024 2025-03-06 01:10:19Z RANDALL PIERCE PO BOX 15659 BATON ROUGE LA 70895 274490843 0 X WWW.DEMCO.ORG X 1938 LA TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 13 13 278 0 124084 68961 0 0 253473042 272514011 220605 301267 1444937 1675565 255138584 274490843 20588 32266 0 0 32966070 30656036 0 0 0 222043153 238315620 255029811 269003922 108773 5486921 712484022 733768271 592808886 610988558 119675136 122779713 TO ENHANCE THE QUALITY OF LIFE FOR OUR MEMBERS, EMPLOYEES, AND COMMUNITIES BY SAFELY PROVIDING RELIABLE AND COMPETITIVELY PRICED ENERGY SERVICES. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 119,120 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 1 131 0 278 1 1 1 0 0 0 0 272864331 6925052 0 0 0 X 13 13 0 0 1 0 1 1 1 1 0 0 0 0 1 1 1 1 1 1 1 0 LA X NICHOLAS SMITH DIR FINANCIAL PLANNING & ANALYSIS 8446933626 PO BOX 15659 BATON ROUGE LA 70895 X DANIEL BERTHELOT PRESIDENT 6.20 X X 38975 0 0 RANDY LORIO VICE PRESIDENT 4.50 X X 35933 0 0 DENNIS LOTT SECRETARY/TREASURER 2.60 X X 18056 0 0 LESLIE FALKS DIRECTOR 4.80 X 40995 0 0 STEVE IRVING DIRECTOR 2.70 X 33795 0 0 RICHARD SITMAN DIRECTOR 6.00 X 38595 0 0 JILL MCGRAW DIRECTOR 4.80 X 22381 0 0 MELISSA DUFRECHE DIRECTOR 4.60 X 12522 0 0 EDWARD DELEE DIRECTOR 2.80 X 32362 0 0 KEVIN BEAUCHAMP DIRECTOR 4.50 X 16385 0 0 TRESA BYRD DIRECTOR 4.50 X 20564 0 0 MIKE ANDERSON DIRECTOR 2.90 X 9372 0 0 ELINDA TAILLON DIRECTOR 3.80 X 19814 0 0 RANDALL PIERCE GENERAL MANAGER/CHIEF EXEC 50.00 X 493833 0 158841 PEGGY MARANAN CHIEF FINANCIAL OFFICER 50.00 X 225634 0 63611 PEARL OVERHULTZ CHIEF CORPORATE SERVICES O 40.00 X 178982 0 182841 MARK PHILLIPS CHIEF ENGINEERING & OPERATIONS OFFICER 45.00 X 206399 0 132917 GALEN DUNBAR CHIEF MEMBER SERVICES OFFICER 41.00 X 159734 0 34533 JEFFREY ANDRY CHIEF STRATEGY & REGULATORY OFFICER 45.00 X 241564 0 53677 MATT GIBSON DIRECTOR OF ENGINEERING 40.00 X 177350 0 51575 TRENT BIGNER DIRECTOR OF OPERATIONS 42.00 X 165014 0 127608 JOSHUA PRESTRIDGE CREW LEADER, DISTRICT LINE OPERATIONS 54.00 X 162767 0 72453 BRIAN MERRITT SERVICEMAN, DISTRICT LINE OPERATIONS 51.00 X 162180 0 28223 CODY GLASCOCK DISTRICT MANAGER, DISTRICT LINE OPERATIONS 50.00 X 161889 0 86900 2675095 0 993179 146 0 1 0 STUART IRBY CO PO BOX 843959 DALLAS TX 75284 ELECTRICAL CONTRACTOR 6024225 V-TECH INC 200 CS FLOYD RD LOGANVILLE GA 30052 ELECTRICAL CONTRACTOR 4903098 SHELTON ENERGY SOLUTIONS LLC 1439 CNETRE COURT STE 600 ALEXANDRIA LA 71301 SYSTEM IMPROVEMENTS 3949603 AXIS POWER LLC 4B BAYOU BRANDT BEAUMONT TX 77706 SYSTEM IMPROVEMENTS 2662083 CREEL BROTHER INC 26400 BUFORD CREEL RD FRANKLINTON LA 70438 TREE REMOVAL/SYSTEM IMPROVEMENTS 2525991 74 X SALES OF ELECTRICITY 221000 266512300 266512300 SERVICE FEES 221000 3534219 3534219 PATRONAGE DIVIDENDS 221000 2467492 2467492 272514011 301267 301267 135862 0 135862 135862 122529 13333 1555 0 1555 1555 POLE ATTACHMENT INCOME 221000 1326436 1326436 MUTUAL AID ASSISTANCE 221000 211712 211712 1538148 274490843 272725723 124084 1641036 X 32266 2472315 19842187 3685991 3301273 1354270 18363979 26227238 PURCHASED POWER 153173062 DISTRIBUTION EXPENSE 18112047 ADMIN AND GENERAL EXPEN 8985762 UNRELATED BUS. INC. TAX 13850 13439682 269003922 6488986 42422 37154013 34257938 323447 262674 8890429 10007342 10151001 16166825 842865645 216854601 607250260 626011044 12790543 14316422 29435343 32703604 712484022 733768271 29340473 29421930 528342503 545942343 35125910 35624285 592808886 610988558 X 356040 340720 0 0 119319096 122438993 119675136 122779713 712484022 733768271 X 5486921 -2382344 X X 0 1 X 1 0 9895295 9895295 26484433 7791533 18692900 2806255 539139 2267116 782554469 208523929 574030540 21125193 21125193 626011044 ACCRUED OPERATING TAXES 604526 CONSUMER DEPOSITS 9310675 DEFERRED POST RETIREMENT BENEFITS 21729124 DEFERRED CREDITS - OTHER 346788 CONTINGENT LIABILITY - FEMA 3633172 35624285 X 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 POSITIONS ARE TIMING DIFFERENCES IMPACTING TAXABLE INCOME. THE ENTITIES HAVE DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR THE APPLICABLE STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART VIII: THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 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 VIII HAS BEEN LEFT BLANK. 0 EAST BATON ROUGE PARISH SCHOOL SYSTEM 6550 SEVENOAKS AVE BATON ROUGE LA 70806 726000035 GOVERNMENT 7500 0 12TH GRADE INTERNS DONATION 1 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 X 0 0 0 RANDALL PIERCE GENERAL MANAGER/CHIEF EXEC 421695 0 49682 0 22456 0 127043 0 31798 0 652674 0 0 0 PEARL OVERHULTZ CHIEF CORPORATE SERVICES O 177293 0 519 0 1170 0 155021 0 27820 0 361823 0 0 0 MARK PHILLIPS CHIEF ENGINEERING & OPERATIONS OFFIC 192886 0 1099 0 12414 0 106917 0 26000 0 339316 0 0 0 JEFFREY ANDRY CHIEF STRATEGY & REGULATORY OFFICER 227057 0 435 0 14072 0 23081 0 30596 0 295241 0 0 0 TRENT BIGNER DIRECTOR OF OPERATIONS 157794 0 568 0 6652 0 102388 0 25220 0 292622 0 0 0 PEGGY MARANAN CHIEF FINANCIAL OFFICER 215164 0 564 0 9906 0 55053 0 8558 0 289245 0 0 0 CODY GLASCOCK DISTRICT MANAGER, DISTRICT LINE OPER 155255 0 587 0 6047 0 60380 0 26520 0 248789 0 0 0 JOSHUA PRESTRIDGE CREW LEADER, DISTRICT LINE OPERATION 157673 0 614 0 4480 0 46053 0 26400 0 235220 0 0 0 MATT GIBSON DIRECTOR OF ENGINEERING 176018 0 562 0 770 0 26579 0 24996 0 228925 0 0 0 GALEN DUNBAR CHIEF MEMBER SERVICES OFFICER 155537 0 569 0 3628 0 34309 0 224 0 194267 0 0 0 BRIAN MERRITT SERVICEMAN, DISTRICT LINE OPERATIONS 160877 0 628 0 675 0 28111 0 112 0 190403 0 0 0 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. 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. RANDALL PIERCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 116,693 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,350 TOTAL REPORTED IN COLUMN C $ 127,043 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (116,693) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 105,386 EXPENSE TO THE COOPERATIVE $ 115,736 PEARL OVERHULTZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 149,542 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,479 TOTAL REPORTED IN COLUMN C $ 155,021 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (149,542) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 52,174 EXPENSE TO THE COOPERATIVE $ 57,653 MARK PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 101,067 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,850 TOTAL REPORTED IN COLUMN C $ 106,917 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (101,067) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 55,012 EXPENSE TO THE COOPERATIVE $ 60,862 JEFFREY ANDRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,160 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,921 TOTAL REPORTED IN COLUMN C $ 23,081 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,160) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 68,730 EXPENSE TO THE COOPERATIVE $ 75,651 TRENT BIGNER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 97,804 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,584 TOTAL REPORTED IN COLUMN C $ 102,388 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (97,804) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,275 EXPENSE TO THE COOPERATIVE $ 49,859 PEGGY MARANAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,665 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,388 TOTAL REPORTED IN COLUMN C $ 55,053 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,665) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 61,631 EXPENSE TO THE COOPERATIVE $ 68,019 CODY GLASCOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,272 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,108 TOTAL REPORTED IN COLUMN C $ 60,380 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,272) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,970 EXPENSE TO THE COOPERATIVE $ 43,078 JOSHUA PRESTRIDGE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,941 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,112 TOTAL REPORTED IN COLUMN C $ 46,053 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,941) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,245 EXPENSE TO THE COOPERATIVE $ 27,357 MATT GIBSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,539 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,040 TOTAL REPORTED IN COLUMN C $ 26,579 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,539) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,947 EXPENSE TO THE COOPERATIVE $ 54,987 GALEN DUNBAR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,763 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,546 TOTAL REPORTED IN COLUMN C $ 34,309 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,763) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,013 EXPENSE TO THE COOPERATIVE $ 47,559 BRIAN MERRITT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,002 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,109 TOTAL REPORTED IN COLUMN C $ 28,111 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,002) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,220 EXPENSE TO THE COOPERATIVE $ 27,329 JACOB OVERHULTZ FAMILY RELATIONSHIP - KEY EMPLOYEE (P. OVERHULTZ) 129766 EMPLOYMENT 0 FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR THE COOPERATIVE'S BYLAWS WERE AMENDED. THE FOLLOWING IS A SUMMARY OF THE CHANGES: ARTICLE IV - DIRECTORS SECTION 4.04 QUALIFICATIONS, WAS AMENDED TO ADD "(I) IS UNWILLING OR PHYSICALLY OR MENTALLY INCAPABLE OF CARRYING OUT THE DUTIES OF A DIRECTOR." SECTION 4.06 AMENDED THE SECTION HEADING TO "REMOVAL OF DIRECTORS". SECTION 4.11. DIRECTOR EMERITUS, WAS AMENDED TO STATE "ANY PERSON SERVING ON THE DEMCO BOARD OF DIRECTORS FOR THREE (3) OR MORE CONSECUTIVE THREE (3) YEAR TERMS OR NINE (9) CONSECUTIVE YEARS SHALL, UPON SEPARATION FROM THE DEMCO BOARD OF DIRECTORS, BE CONSIDERED AS A DIRECTOR EMERITUS. AS A DIRECTOR EMERITUS, SUCH PERSON SHALL BE ENTITLED TO BENEFITS AS MAY BE ESTABLISHED BY DEMCO BOARD POLICY." ARTICLE V - MEETINGS OF DIRECTORS SECTION 5.06. REMOTE PARTICIPATION AT MEETINGS, WAS AMENDED TO STATE "(D) OUT-OF-TOWN TRAVEL FOR CORPORATE BUSINESS; (E) FAMILY MEMBER ILLNESS OR EMERGENCY; (F) WEATHER CONDITIONS; (G) MILITARY SERVICE; OR (H) EMPLOYMENT OBLIGATIONS; (I) WHEN A SPECIAL BOARD MEETING IS CALLED, AND A BOARD MEMBER IS UNABLE TO ATTEND IN PERSON DUE TO A SCHEDULE CONFLICT; (J) WHEN A REGULAR MONTHLY BOARD OR COMMITTEE MEETING IS RESCHEDULED AND A BOARD MEMBER IS UNABLE TO ATTEND IN PERSON DUE TO A SCHEDULE CONFLICT. REMOTE PARTICIPATION IS NOT TO BE USED SOLELY FOR A BOARD MEMBER'S CONVENIENCE OR TO AVOID ATTENDING A PARTICULAR MEETING IN PERSON. EFFECTIVE JANUARY 18, 2024, NO BOARD MEMBER MAY PARTICIPATE REMOTELY MORE THAN FOUR (4) MEETINGS DURING A CALENDAR YEAR". A COMPLETE COPY OF THE BYLAWS CAN BE FOUND ON THE COOPERATIVE'S WEBSITE: WWW.DEMCO.ORG/BYLAWS. 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 PRESENTED A COPY OF THE FORM 990 TO THE BOARD SUBSEQUENT TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF 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. THE CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE CEO. THE SURVEY SHOWS COMPARATIVE SALARIES FOR CEOS FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN LOUISIANA AND THE NATION. THE CEO UTILIZES 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 SHOWS COMPARATIVE SALARIES FROM SIMILARLY SITUATED COOPERATIVES LOCATED IN LOUISIANA AND THE NATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE FINANCIAL STATEMENTS TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. THE BYLAWS AND THE ANNUAL REPORT ARE ALSO POSTED 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. 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, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES ARE COMPRISED OF THE TOTAL AMOUNT CONTRIBUTED TO THE 401(K) PENSION PLAN, THE ACTUARIAL INCREASE FOR FUTURE RETIREE BENEFITS EARNED AS A PARTICIPANT IN THE DEFINED BENEFIT PLAN, AND THE INSURANCE PREMIUMS PAID FOR THEIR BENEFIT. IN ADDITION TO THE ABOVE PENSION PLANS, THE COOPERATIVE ALSO PROVIDES POST-RETIREMENT HEALTH INSURANCE BENEFITS THROUGH AN UNFUNDED WELFARE BENEFIT PLAN. THE VALUE OF THESE BENEFITS HAS NOT BEEN ESTIMATED. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS 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 MEMBERS. FORM 990, PART IX: THE COOPERATIVE MAINTAINS ITS RECORDS IN ACCORDANCE WITH THE UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR BORROWERS OF THE UNITED STATES DEPARTMENT OF AGRICULTURE RURAL UTILITIES SERVICE. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX. 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 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 $22,314,502 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (339,749) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (626,420) PLUS: SALARIES & WAGES CAPITALIZED DIRECTLY TO PLANT 7,137,240 PLUS: SALARIES & WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 2,280,656 TOTAL WAGES ACCRUED AND/OR PAID $30,766,229 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 COOPERATIVE'S BYLAWS. IN GENERAL, 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 2024 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 IS COMPRISED OF THE FOLLOWING: CUSTOMER ACCOUNTS & SERVICE $ 4,948,943 SALES 991,286 TAXES 6,601,768 TRANSMISSION 682,391 OTHER DEDUCTIONS 197,494 TOTAL OTHER EXPENSES PER FROM 990 LINE 24E $13,439,682 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 9,721,337 OFFICE SUPPLIES 1,298,381 OUTSIDE SERVICES 2,114,785 INJURIES & DAMAGES 579,231 PENSION & BENEFITS 1,123,249 REGULATORY COMMISSION 516,000 RENT 254,965 MISCELLANEOUS GENERAL 254,897 DISTRICT & ANNUAL MEETINGS 196,516 DIRECTORS 508,661 INSURANCE 420,026 MAINTENANCE OF GENERAL PLANT 2,087,283 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $19,075,331 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (339,749) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (6,865,695) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (2,884,125) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 8,985,762 FORM 990, PART XI, LINE 9: EQUITY METHOD INCOME FROM SUBSIDIARY 144,847. NET CHANGE IN MEMBERSHIPS -15,320. PATRONAGE CAPITAL RETIRED - DISCOUNT 2,735,407. SPECIAL BAD DEBT EQUITY RETIREMENT -5,247,278. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO A FINANCE COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. DIXIE BUSINESS DEVELOPMENT CENTER 1810 S RANGE AVE DENHAM SPRINGS LA 70726 721216797 INCUBATOR PROGRAM TO HELP NEW BUSINESS DEVELOP, GROW, AND SUCCEED LA 501(C)(4) DIXIE ELECTRIC MEMBERSHIP CORPORATION 1 DEMCO FOUNDATION INC PO BOX 15659 BATON ROUGE LA 70895 721417423 PROVIDES CHARITABLE ASSISTANCE TO INDIVIDUALS IN THE DEMCO SERVICE AREA LA 501(C)(3) LINE 7 DIXIE ELECTRIC MEMBERSHIP CORPORATION 1 DEMCO ENERGY SERVICES LLC 16262 WAX RD GREENWELL SPRINGS LA 70739 721351783 PROVIDES SURGE PROTECTION SERVICES IN SOUTHEASTERN LA LA DIXIE ELECTRIC MEMBERSHIP CORPORATION C 464298 829302 1.00000 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 1 DEMCO ENERGY SERVICES LLC O 67890 LABOR DISTRIBUTION DEMCO ENERGY SERVICES LLC Q 146584 REIMBURSEMENTS FOR EXPENSES DEMCO ENERGY SERVICES LLC R 524276 BILLING & COLLECTING DEMCO ENERGY SERVICES LLC S 200000 BOARD APPROVED RETURN OF APIC DEMCO FOUNDATION INC O 63482 LABOR DISTRIBUTION DEMCO FOUNDATION INC R N/A - LESS THAN $50,000 DIXIE BUSINESS DEVELOPMENT CENTER E N/A - LESS THAN $50,000 DIXIE BUSINESS DEVELOPMENT CENTER R N/A - LESS THAN $50,000