2025-11-17T23:26:03-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 752791424 BIG COUNTRY ELECTRIC COOPERATIVE INC BIGC 3257762244 PO BOX 518 ROBY TX 795432020 N LATRICE BAUCOM VP OF FINANCE & ACCOUNTING 3257762244 2025-11-11 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-08 X 2024 2025-03-06 01:10:19Z MARK MCCLAIN PO BOX 518 ROBY TX 795432020 38903018 0 X WWW.BIGCOUNTRY.COOP X 1999 TX TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 7 6 70 0 39347 37597 0 0 46616771 38238350 211911 253848 52727 139132 46881409 38631330 31735 74936 8908361 5148316 7034584 7557295 0 0 0 30886200 25769463 46860880 38550010 20529 81320 125932465 130392855 55116386 56184548 70816079 74208307 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 13,638 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 1 1 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 212 0 70 1 1 1 0 0 0 0 39060848 508953 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 3.00 0.10 X X 10750 0 0 TODD COKER DIRECTOR 1.70 0.10 X 11000 0 0 CHRIS ESTES DIRECTOR 6.30 0.10 X 11600 0 0 DANNY HELMS VICE PRESIDENT 4.00 0.10 X X 11000 0 0 ZACHARY LOGAN DIRECTOR 4.60 0.10 X 11350 0 0 STEVE MOORE PRESIDENT 3.90 0.10 X X 11450 0 0 MATT MUELLER DIRECTOR 3.60 0.10 X 11600 0 0 NAOMI L BAUCOM VP FINANCE & ACCOUNTING 51.00 X 196876 0 57344 WILLIAM DUNIVEN VP OPERATIONS 47.00 X 157410 0 89392 LINDA KEY VP OFFICE SERVICES (JAN-FEB) 56.00 X 85712 0 4352 DAVID M MCCLAIN CEO/GENERAL MANAGER 41.00 X 300191 0 172431 SARAH MCLEN VP MEMBER SERVICES 42.00 X 153807 0 58236 JOHN VANMATER VP ENGINEERING 44.00 X 154746 0 50459 ROY HINKLE DISTRICT OP. MANAGER 54.00 X 214917 0 67175 MIKE MARTINEZ FOREMAN 51.00 X 152759 0 36175 CARY MCCLINTOCK DISTRICT MANAGER 42.00 X 147818 0 77352 ROBERT PIPPIN SAFETY/TRAINING MANAGER 40.00 X 147253 0 52140 GABRIEL VASQUEZ FOREMAN 51.00 X 156175 0 49954 1946414 0 715010 28 0 1 0 PRIMARY UTILITY SERVICES INC PO BOX 1393 SNYDER TX 79550 DISTRIBUTION WORK 3321421 COOKE ELECTRICAL CONTRACTING INC 1000 N FOREST ST AMARILLO TX 79106 DISTRIBUTION WORK 1646525 C&C SERVICES LLC PO BOX 1162 SNYDER TX 79550 DISTRIBUTION WORK 708885 FLINT CONSTRUCTION 6210 FM 126 MERKEL TX 79536 DISTRIBUTION WORK 263785 POLE POSITION LLC 40905 CR 17 MEEKER CO 81641 DISTRIBUTION WORK 243885 7 X SALES OF ELECTRICITY 221000 36448371 36448371 PATRONAGE DIVIDENDS 221000 1523752 1523752 SERVICE FEES 221000 234668 234668 OTHER PROGRAM REVENUE 221000 31559 31559 38238350 190332 190332 63516 0 63516 63516 63516 292981 271688 21293 21293 POLE ATTACHMENT INCOME 221000 78492 78492 INTERNET COMMISSIONS 517000 39347 39347 117839 38631330 38323159 39347 268824 X 64936 10000 5148316 1559706 3969202 855279 799091 374017 2048508 4303012 PURCHASED POWER 16693020 ADMIN & GENERAL EXPENSE 1127689 DISTRIBUTION EXPENSE 1092465 UNRELATED BUS. INC. TAX 12164 492605 38550010 X 2709485 331032 2278111 1605816 4463371 3128149 19800 6600 2035996 1891160 308910 312625 144732280 49410292 87117783 95321988 26838721 27552266 160288 243219 125932465 130392855 5739688 4236154 143070 47100 49023 110266 45691043 45923321 3493562 5867707 55116386 56184548 X 134080 135845 0 0 70681999 74072462 70816079 74208307 125932465 130392855 X 81320 3310908 X X 0 1 X 1 0 0 1 X 271920 271920 6145299 2607869 3537430 135357741 46802423 88555318 2957320 2957320 95321988 PATRONAGE CAPITAL - CFC 1441942 C PATRONAGE CAPITAL - TEC 964574 C PATRONAGE CAPITAL - GSEC 22594773 C PATRONAGE CAPITAL - NISC 120333 C PATRONAGE CAPITAL - FEDERATED INSURANCE 176479 C PATRONAGE CAPITAL - NRTC 6573 C CAPITAL TERM CERTIFICATES - CFC 1196664 C MEMBERSHIPS IN OTHER COOPERATIVES 2335 C CONTRIBUTED CAPITAL - GSEC 980692 C GOLDEN SPREAD CTC RECEIVALBE 67901 C 27552266 CONSUMER DEPOSITS 468693 ACCRUED OPERATING TAXES 79465 DEFERRED CREDIT - UNCLAIMED PROPERTY 27472 DEFERRED CREDIT - DEFERRED INSTALLATION COSTS 819730 DEFERRED CREDIT - REDLG GRANTS ECONOMIC DEVELOPMENT GRANTS 360000 DEFERRED CREDIT - OTHER 3216 ACCUMULATED PROVISION - BENEFITS & PENSION 704965 OVERCOLLECTED POWER COST 1976811 DEFERRED CREDIT - LARGE LOAD STUDIES 155289 UNCLAIMED CAPITAL CREDITS 1272066 5867707 X 38603320 0 38603320 28010 28010 38631330 33373684 0 33373684 5176326 5176326 38550010 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 4B - OTHER ADJUSTMENTS: NON-OPERATING EXPENSES RECLASSIFIED TO PART IX 28,010. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,148,316. NON-OPERATING EXPENSES RECLASSIFIED TO PART IX 28,010. 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 TEXAS ELECTRIC COOPERATIVES 1122 COLORADO STREET 24TH FLOOR AUSTIN TX 78701 741007829 CORPORATION 12050 0 WASHINGTON YOUTH TOUR SPONSORSHIPS 1 POST-SECONDARY SCHOLARSHIPS PAID DIRECTLY TO THE INSTITUTION IN WHICH THE AWARDED INDIVIDUAL IS ENROLLED AND APPLIED TO THE STUDENT'S ACCOUNT. 12 10000 12 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 1 X 0 0 0 DAVID M MCCLAIN CEO/GENERAL MANAGER 283025 0 925 0 16241 0 145099 0 27332 0 472622 0 0 0 ROY HINKLE DISTRICT OP. MANAGER 206111 0 825 0 7981 0 49726 0 17449 0 282092 0 0 0 NAOMI L BAUCOM VP FINANCE & ACCOUNTING 182690 0 650 0 13536 0 31347 0 25997 0 254220 0 0 0 WILLIAM DUNIVEN VP OPERATIONS 150444 0 875 0 6091 0 65322 0 24070 0 246802 0 0 0 CARY MCCLINTOCK DISTRICT MANAGER 140819 0 925 0 6074 0 54465 0 22887 0 225170 0 0 0 SARAH MCLEN VP MEMBER SERVICES 142277 0 725 0 10805 0 29475 0 28761 0 212043 0 0 0 GABRIEL VASQUEZ FOREMAN 152568 0 725 0 2882 0 23910 0 26044 0 206129 0 0 0 JOHN VANMATER VP ENGINEERING 148949 0 700 0 5097 0 26700 0 23759 0 205205 0 0 0 ROBERT PIPPIN SAFETY/TRAINING MANAGER 142862 0 825 0 3566 0 29162 0 22978 0 199393 0 0 0 MIKE MARTINEZ FOREMAN 149359 0 725 0 2675 0 21751 0 14424 0 188934 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 (ESTES AND MOORE) 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 $ 130,864 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,235 TOTAL REPORTED IN COLUMN C $ 145,099 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (130,864) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 63,958 EXPENSE TO THE COOPERATIVE $ 78,193 ROY HINKLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,405 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,321 TOTAL REPORTED IN COLUMN C $ 49,726 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,405) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,438 EXPENSE TO THE COOPERATIVE $ 41,759 NAOMI BAUCOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,138 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,209 TOTAL REPORTED IN COLUMN C $ 31,347 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,138) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,772 EXPENSE TO THE COOPERATIVE $ 50,981 WILLIAM DUNIVEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,977 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,345 TOTAL REPORTED IN COLUMN C $ 65,322 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,977) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,704 EXPENSE TO THE COOPERATIVE $ 41,049 CARY MCCLINTOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,402 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,063 TOTAL REPORTED IN COLUMN C $ 54,465 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,402) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,390 EXPENSE TO THE COOPERATIVE $ 41,453 SARAH MCLEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,552 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,923 TOTAL REPORTED IN COLUMN C $ 29,475 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,552) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,253 EXPENSE TO THE COOPERATIVE $ 40,176 GABRIEL VASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,191 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,719 TOTAL REPORTED IN COLUMN C $ 23,910 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,191) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,068 EXPENSE TO THE COOPERATIVE $ 32,787 JOHN VANMATER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,351 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,349 TOTAL REPORTED IN COLUMN C $ 26,700 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,351) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,152 EXPENSE TO THE COOPERATIVE $ 41,501 ROBERT PIPPIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,373 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,789 TOTAL REPORTED IN COLUMN C $ 29,162 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,373) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,997 EXPENSE TO THE COOPERATIVE $ 38,786 MIKE MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,511 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,240 TOTAL REPORTED IN COLUMN C $ 21,751 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,511) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,621 EXPENSE TO THE COOPERATIVE $ 30,861 ARRON DUNIVEN FAMILY RELATIONSHIP (VP WILLIAM DUNIVEN) 118245 FIELD ENGINEERING MANAGER 0 JOSH HELMS FAMILY RELATIONSHIP (DIRECTOR DANNY HELMS) 12139 CATERING SERVICES 0 PART VI, SECTION A, LINE 1B: PER 990 INSTRUCTIONS, DIRECTOR HELMS 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 $81,320 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 12/31/24 $ 229,802 LESS: UNBILLED REVENUE 12/31/23 (148,482) NET DECREASE IN UNBILLED REVENUE EQUAL TO NET INCOME ON PAGE 1, PART I, LINE 19 $ 81,320 (B) - BENEFITS PAID TO MEMBERS (I.E. PATRONAGE DIVIDENDS), PART I, LINE 14 $ 5,148,316 TOTAL 2024 NET MARGIN PER FINANCIAL STATEMENTS (A + B) $ 5,229,636 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 $ 5,528,908 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (78,750) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (432,214) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 14,614 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,411,420 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 300,854 TOTAL WAGES ACCRUED AND/OR PAID $ 6,744,832 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,590,840 OFFICE SUPPLIES 62,940 OUTSIDE SERVICES 77,738 DIRECTORS 109,222 ASSOCIATION DUES 63,696 ADVERTISING 136,483 PUBLIC RELATIONS 183,915 MISCELLANEOUS GENERAL 117,284 ANNUAL MEETING 62,621 REGULATORY COMMISSION 61,144 PROPERTY INSURANCE 58,919 SCHOLARSHIPS 10,000 INJURIES AND DAMAGES 61,638 MAINTENANCE OF GENERAL PLANT 540,354 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 4,136,794 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (74,936) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (78,750) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,915,925) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (939,494) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,127,689 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 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 ARE COMPRISED OF THE FOLLOWING: CONSUMER EXPENSES $ 439,200 TAXES 25,395 OTHER DEDUCTIONS 28,010 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 492,605 FORM 990, PART X, LINES 17 & 25: THE COOPERATIVE PREVIOUSLY INCLUDED UNLAIMED CAPITAL CREDITS AS COMPONENTS OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES ON LINE 17 OF PART X. HOWEVER, FOR THE 2024 CALENDAR YEAR, THE COOPERATIVE BEGAN REPORTING THESE AMOUNTS ON LINE 25 AS OTHER LIABILITIES SINCE THESE BALANCES ARE NON-CURRENT IN NATURE. TO INCREASE CONSISTENCY, UNCLAIMED CAPITAL CREDITS IN THE AMOUNT OF $689,781 FOR THE 2023 CALENDAR YEAR HAVE BEEN RECLASSED FROM LINE 17 TO LINE 25. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,148,316. PATRONAGE CAPITAL RETIRED - TOTAL -1,912,235. PATRONAGE CAPITAL RETIRED - DISCOUNT 52,289. NET CHANGE IN MEMBERSHIPS 1,765. OTHER COMPREHENSIVE INCOME (LOSS) 20,773. 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