2026-07-14T16:36:46-05:00 2025-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2025-01-01 750384297 LAMB COUNTY ELECTRIC COOPERATIVE INC LAMB 8063855191 2415 PHELPS AVE LITTLEFIELD TX 79339 RICHARD MOORE GENERAL MANAGER/CEO 8063855191 2026-07-14 1 PATRICK COOPER P00856177 8067473806 2026-07-14 2025 2025-03-06 01:10:19Z RICHARD MOORE 2415 PHELPS AVE LITTLEFIELD TX 79339 30602156 0 X WWW.LCEC.COOP X 1938 TX TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS. 7 7 47 0 1943 0 0 0 30837479 30390070 226410 138924 7093 49331 31070982 30578325 21133 21723 3085558 2661952 4381615 4366611 0 0 0 23593690 23506126 31081996 30556412 -11014 21913 90585014 90011404 32758312 31655557 57826702 58355847 NONE 0 0 SALES OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 11,657 ACTIVE SERVICES AT YEAR END. 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 22 0 47 1 1 1 0 0 0 0 28894877 1415729 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 0 0 0 1 1 0 X TRACY BOWMAN OFFICE MANAGER 8063855191 2415 PHELPS AVE LITTLEFIELD TX 79339 X DOUG CRISWELL VICE-PRESIDENT 19.70 1.00 X X 26721 0 0 COLE GARNER DIRECTOR 6.80 1.00 X 24901 0 0 PAUL PINKERT DIRECTOR 9.10 1.00 X 27510 0 0 MARVIN MATTHEWS PRESIDENT 10.00 1.00 X X 24903 0 0 MICHAEL RAMAGE DIRECTOR 6.00 1.00 X 25581 0 0 KEVIN HUMPHREYS SECRETARY/TREASURER 2.00 1.00 X X 24922 0 0 DANNY WEST DIRECTOR 5.50 1.00 X 25400 0 0 RICHARD MOORE GENERAL MANAGER/CEO 55.00 1.00 X 163008 0 33980 TRACY BOWMAN OFFICE MANAGER 40.00 X 149572 0 24432 JAMES INGLE ENGINEERING MANAGER 40.00 X 154523 0 22490 MICHAEL MCDANIEL OPERATIONS MANAGER 40.00 X 148799 0 24728 KATHRYN SHIPP ADMINISTRATIVE MANAGER 40.00 X 145070 0 30722 FLOYD TREVINO ENGINEERING TECH SUPERINTE 40.00 X 128803 0 29005 OSCAR ZAPATA MAINENANCE SUPERINTENDENT 40.00 X 131450 0 22304 1201163 0 187661 14 0 1 0 PRIMARY UTILITY SERVICES PO BOX 64207 LUBBOCK TX 79464 STORM DAMAGE AND LINE WORK 212890 1 X SALES OF ELECTRICITY 221000 28493016 28493016 PATRONAGE CAPITAL 221000 1895589 1895589 OTHER PROGRAM REVENUE 221000 1465 1465 30390070 138924 138924 6373 4430 1943 1943 1943 55594 19401 36193 36193 POLE ATTACHMENT INCOME 221000 11195 11195 11195 30578325 30426263 1943 150119 X 21723 2661952 550930 2686922 173004 718452 237303 1131434 2607758 PURCHASED POWER 16695331 ADMIN & GENERAL EXPENSE 1707124 DISTRIBUTION EXPENSE 1297034 CUSTOMER ACCOUNTS 23251 44194 30556412 617252 560000 2522345 714383 1297407 1657350 452711 408905 156279 159842 97243253 52513025 44495712 44730228 40973137 41688173 70171 92523 90585014 90011404 2199471 2090985 73259 80220 27664180 25929766 2821402 3554586 32758312 31655557 X 11685 11595 0 0 57815017 58344252 57826702 58355847 90585014 90011404 X 21913 507232 X X 0 1 X 0 0 0 1 X 160414 160414 2547017 2115158 431859 94487753 50397867 44089886 48069 48069 44730228 PATRONAGE CAPITAL - CFC 846117 C PATRONAGE CAPITAL - TEC 790922 C PATRONAGE CAPITAL - NISC 90390 C PATRONAGE CAPITAL - GSEC 38920236 C OTHER INVESTMENTS IN ASSOCIATED ORGANIZATIONS 11586 C MEMBERSHIP FEES IN ASSOCIATED ORGANIZATIONS 2200 C INVESTMENT IN SUBSIDIARIES 335618 C CAPITAL TERM CERTIFICATES - CFC 691104 C 41688173 CONSUMER DEPOSITS 850660 ACCRUED OPERATING TAXES 22726 CONSUMER ENERGY CREDITS 122437 OVERBILLED POWER COST 2359972 AID TO CONSTRUCTION 198791 3554586 X PART IV, LINE 2B: PURSUANT TO SECTION 74.3013 OF THE TEXAS PROPERTY CODE, THE COOPERATIVE HAS ESTABLISHED A RURAL SCHOLARSHIP FUND WITH RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. 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 RETIREMENTS OF PATRONAGE CAPITAL, WHICH HAVE REMAINED UNCLAIMED FOR A PERIOD OF THREE YEARS. 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. 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 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 RICHARD MOORE GENERAL MANAGER/CEO 160764 0 1000 0 1244 0 13125 0 20855 0 196988 0 0 0 JAMES INGLE ENGINEERING MANAGER 134482 0 3200 0 16841 0 10164 0 12326 0 177013 0 0 0 KATHRYN SHIPP ADMINISTRATIVE MANAGER 135685 0 1000 0 8385 0 11117 0 19605 0 175792 0 0 0 TRACY BOWMAN OFFICE MANAGER 141123 0 1000 0 7449 0 10856 0 13576 0 174004 0 0 0 MICHAEL MCDANIEL OPERATIONS MANAGER 137472 0 2000 0 9327 0 10492 0 14236 0 173527 0 0 0 FLOYD TREVINO ENGINEERING TECH SUPERINTE 112462 0 6000 0 10341 0 9400 0 19605 0 157808 0 0 0 OSCAR ZAPATA MAINENANCE SUPERINTENDENT 121731 0 3200 0 6519 0 9318 0 12986 0 153754 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - 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. JAMES INGLE REPORTED ON FORM 990, PART VII, RECEIVED THIS BENEFIT DURING THE YEAR. FORM 990, PART I: 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 21,913, WHICH IS THE INCOME STATEMENT EFFECT OF ACCRUED UNBILLED REVENUE AND EQUITY METHOD INCOME. EQUITY METHOD INCOME IS RECORDED ON THE COOPERATIVE'S BOOKS AND INCLUDED IN NET MARGINS. U.S. GAAP REQUIRES THE COOPERATIVE TO RECORD ON ITS BOOKS EQUITY METHOD INCOME FROM ITS WHOLLY OWNED SUBSIDIARIES. EQUITY METHOD INCOME IS NOT INCOME FOR IRS FORM 990 PURPOSES AND AS SUCH HAS BEEN REPORTED AS AN OTHER CHANGE IN NET ASSETS. 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 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 PLUS THE EQUITY METHOD INCOME(LOSS) FROM SUBSIDIARY. THE FOLLOWING SCHEDULE IS PROVIDED TO FURTHER EXPLAIN THE IMPACT OF THIS TRANSACTION: ADD: UNBILLED REVENUE 12/31/25 $ 84,866 LESS: UNBILLED REVENUE 12/31/24 (62,513) (A) - NET INCREASE IN UNBILLED REVENUE $ 22,353 (B) - EQUITY METHOD INCOME FROM SUBSIDIARY $ (440) NET INCOME ON PAGE 1, PART I, LINE 19 (A + B) $ 21,913 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 FOR DISCUSSION AND REVIEW PRIOR TO FILING. THE DISCUSSION AND REVIEW WAS PERFORMED AT THE BOARD MEETING IMMEDIATELY BEFORE FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12 ALTHOUGH THE COOPERATIVE DOES NOT HAVE A WRITTEN CONFLICT OF INTEREST POLICY GOVERNING BOTH EMPLOYEES AND DIRECTORS, ARTICLE IV, SECTION 4.02 OF THE COOPERATIVE'S BYLAWS PROHIBIT A DIRECTOR FROM BEING A CLOSE RELATIVE TO ANOTHER DIRECTOR, NON-DIRECTOR COOPERATIVE OFFICER OR EMPLOYEE. A DIRECTOR IS ALSO PROHIBITED FROM HAVING A FINANCIAL INTEREST IN A COMPETING ENTERPRISE. A VIOLATION OF THIS PROHIBITION DISQUALIFIES A PERSON FROM SERVING AS A DIRECTOR AND SHALL RESULT IN SUCH DIRECTOR BEING REMOVED FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE BOARD OF DIRECTORS REVIEW THE PERFORMANCE OF THE COOPERATIVE'S GENERAL MANAGER, AND USE A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. AS PART OF THIS PROCESS, THE BOARD OF DIRECTORS CONSIDERS AND DOCUMENTS THE FOLLOWING FACTORS: (1) JOB PERFORMANCE, (2) TENURE, (3) SALARIES PAID TO GENERAL MANAGERS OF ELECTRIC COOPERATIVES OF SIMILAR SIZE LOCATED IN THE PANHANDLE AND SOUTH PLAINS REGIONS OF TEXAS, (4) SALARY LEVEL COMPARED TO THE SALARIES AND WAGES PAID TO OTHER EMPLOYEES, AND (5) INFLATION, COST OF LIVING INCREASES, AND OVERALL ECONOMIC CONDITIONS OF THE AREA SERVED BY THE COOPERATIVE. 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. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE COOPERATIVE PROVIDES A SUMMARIZED COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE AT THE ANNUAL MEETING. A COMPLETE COPY OF THE BYLAWS ARE AVAILABLE ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO 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. EMPLOYER CONTRIBUTIONS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF THE PLAN. 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 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 2B: 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 UTILITIES 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 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 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. 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 2025 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, 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 $ 3,237,852 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (179,938) LESS: EMPLOYEE OFFICER BENEFITS REPORTED ON LINE 5 (58,412) PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 416,478 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 253,258 TOTAL WAGES ACCRUED AND/OR PAID $ 3,669,238 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 1,311,506 OFFICE SUPPLIES 377,075 OUTSIDE SERVICES EMPLOYED 64,762 INSURANCES AND DAMAGES 163,420 EMPLOYEE PENSIONS & BENEFITS 845,045 DIRECTORS FEES 191,659 MEMBER & STOCKHOLDER EXP 76,785 MAINTENANCE OF GENERAL PLANT 484,923 DUES AND SUBSCRIPTIONS 47,546 MISCELLANEOUS GENERAL 20,110 REGULATORY COMMISSION 54,386 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 3,637,217 LESS: RECLASS OF DONATIONS TO PART IX, LINE 1 (707) LESS: RECLASS OF UBI EXPENSE TO PART VIII, LINE 6 (4,407) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (179,938) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (854,608) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (890,410) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,707,148 FORM 990, PART IX, LINE 24E: OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: SALES EXPENSE $ 20,297 TRANSMISSION 18,641 CUSTOMER SERVICE AND INFORMATION 5,255 OTHER DEDUCTION 1 TOTAL OTHER EXPENSES PER FINANCIAL STATEMENTS $ 44,194 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED 2,661,952. PATRONAGE CAPITAL RETIRED -2,155,069. NET CHANGE IN MEMBERSHIPS -90. EQUITY METHOD INCOME(LOSS) FROM SUBSIDIARY 440. PRIOR PERIOD ADJUSTMENT -1. FORM 990, PART XII, LINE 2C: THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. RURAL VISION DEVELOPMENT CORPORATION 2415 PHELPS AVE LITTLEFIELD TX 79339 752454476 WASTE MANAGEMENT ROLL OFF SERVICES TX LAMB COUNTY ELECTRIC COOPERATIVE INC C 9971 269806 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 RURAL VISION DEVELOPMENT CORPORATION L N/A - LESS THAN $50,000 RURAL VISION DEVELOPMENT CORPORATION Q N/A - LESS THAN $50,000