8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
1/26
lefile GRAPHIC print
-
DO NOT PROCESS
I
As Filed Data
- I
DLN: 934932250250451
Form
990
Return
o f
Organization Exempt From
I nco me T ax
Under section 50 1 ( c ) ,
52 7, o r
4947
a)(1)
of
the
Internal
Revenue Code
except
private
foundations)
D e p a r t m e n t
o f
t h e T r e a s u r y
Do
no t
enter social security numbers on
t h i s form
as
i t
may be made public
I n t e r n a l R e v e n u e S e r v i c e
1-Information about Form
990
a nd
i t s
instructions i s a t
www.IRS.gov/form990
A Fo r th e 2014
calendar
ye a r
,
or t ax y ea r beginning 01-01-2014
,
a nd e nding 1 2-31- 2014
OMB No 1545-0047
2 0 1
4
ganization
D Employer
identification number
B Check i f a p p l i c a b l e
CTRIC
COOPERATIVE
IN C
d d r e s s change
59-0469125
Name
change
es s
asb
1
I n i t i a l r e t u r n
E Telephone
number
F i n a l
s t r e e t ( o r P 0
bo x
i f mail
i s
not delivered t o s t r e e t address) Room/suite
f l return/terminated
1
(352)
793-3801
mended r e t u r n
s t a t e
or p r o v i n c e , co
u n t r y , and ZI P
o r f o r e i g n
p o s t a l code
1 A p p l i c a t i o n
pending
E FL 335850301
G
Gross r e c e i p t s 365,631,782
F
Name
a nd
address o f principal o f f i c e r
H(a)
I s
t h i s a group return
f o r
JAMES P DUNCAN
subordinates?
(-Yes
No
PO
BOX
301
SUMTERVILLE,FL
335850301
H(b)
Ar e a l l subordinates 1Yes No
included?
I Tax-exempt s t a t u s
F_
501(c)(3) 501(c)
12
I
( i n s e r t
no
947(a)(1)
or
F_
52 7
I f
No,
att ach
a
l i s t (see
instructions)
J
Website : 1 -
WWWSECOENERGY
COM
H(c)
Groupexemptionnumber -
K Form o f
organization
Corporation r u s t
F_
Association
- Other
0 -
L
Year o f formation 1938
M
State o f l e g a l domicile
FL
Summary
1 B r i e f l y describe the organization's mission
or
most
significant
activities
TO SATISFY CUSTOMERS BY PROVIDING RELIABLE
COMPETITIVELY
PRICED ELECTRICITY AND RELATED SERVICES
IN
A
FINANCIALLY
SOUND MANNER
w
2 Check
t h i s b ox O f -
i f
the
organization
discontinued
it s
operations
or
disposed o f more than 25 o f
it s
ne t assets
3 Number o f
voting
members o f the governing b o dy (Part
VI ,
l i n e 1a ) 3 9
o f
: 4
N
umber o f
independent voting members
o f the governing
b o dy
(Part
V
I l i n e
1b )
4 9
5 Total
number o f individuals employed i n c a le n da r y e a r 2014 (Part V, l i n e 2a )
5
431
6
Total
number o f volunteers (estimate
i f
necessary) 6
7a T o ta l unrelated b u si n es s r e ve n ue from P a rt V I II , column ( C ) , l i n e 12
7a
35,358
b
Ne t unrelated business taxable income from Form 990-T, l i n e 34
7 b 30,822
Prior
Year Current Year
8
Contributions a nd grants (Part VIII, l i n e 1h)
64,903
59,561
9
P r o g r a m service
revenue
(Part
V I
I I
n e 2g )
340,999,335 364,374,856
N
10
In v e s tm e n t i n c o me
(Part
VIII,
column
( A) , l in e s
3 ,
4 ,
a nd 7 d
238,592
680,381
11
Other
revenue (Part
VIII,
column ( A) , l in e s 5 ,
6d,
8c,
9c ,
10c, a nd 11e )
24,275 35,295
12
Total
revenue-add l i n e s 8
through
11 ( mu st equal Part VIII, column ( A ) , l i n e
12 )
341,327,105 365,150,093
13 Grants
and similar
amounts pa id (P a rt
IX , column ( A , l i n e s
1-3
90,000 90,000
14
Benefits
paid
t o
or
f o r members (Part IX , column ( A ) , l i n e 4)
2,898,191 4,210,211
15
Salaries, other compe nsati o n,
employee benefits
(Part IX , column ( A ) , l in e s
3,904,176 4,461,009
5-10)
16 a
Professional
fundraising
f ee s ( Pa rt IX , column ( A ) , l i n e
11e)
0
L L J
b
T o t a l f u n d r a i s in g
expenses
( P a r t
I X column
( D ) ,
l i n e
25)
0 -
0
17 Other expenses (Part
IX ,
column ( A) , l in e s
h1a-11d,
11f-24e
324,408,077 349,005,425
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
2/26
Form 990 2014
Page 2
Statement of
Program
Service ccomplishments
Check
i f
Schedule
contains
a response or note
t o any
l i n e i n t h i s Part
I I I . -
1 B r i e f l y
describe
the organization's
mission
TO SATISFY USTOMERS
BY PROVIDING
RELIABLE COMPETITIVELY PRICED
ELECTRICITY
AND RELATED SERVICES IN A
FINANCIALLY
SOUND
M NNER
2 Did the organization
undertake any
significant
program
services during the
y ea r whi ch wer e
no t
l i s t e d
on
the p r i o r Form 990 or 990-EZ?
fl Yes F No
I f Yes,
describe
these new services o n Schedule
3
D id the org a ni z at i on cease conducting
or make significant
changes
i n how i t c on duct s , a n y program
services?
Yes
F7 No
I f Yes,
describe
these
changes on
Schedule
0
4 Describe the organization
s
program service accomplishments f o r each o f t three largest program
services
as measured by
expenses
Section 501(c)(3) and 501(
c)(4)
organizations are
required
t o
report the
amount
o f grants
and
allocations
t o
others,
the t o t a l
expenses, a n d r eve nue i f
any,
f o r e ac h p ro g r am service reported
4a (Code
Expenses
i n c l u d i n g grants o f (Revenue
SALE AND
DISTRIBUTION OF ELECTRICITY TO
189,058
ACCOUNTS I N TH COOPERATIVE'S SERVICE AREA
4b
(Code
(Expenses
i n c l u d i n g grants
o f
(Revenue
4c
(Code
Expenses
i n c l u d i n g grants o f (Revenue
4d
Other program
services Describe
i n
Schedule
0
Expenses
including grants of
Revenue
4e Total
program
service
expenses
F orm 9 90
(2014)
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
3/26
Form
990
(2014)
Page 3
Checklist
of
Required
Schedules
Yes No
1 I s the organization
described i n
section
501(c)(3)
or4947 a 1 (other than a private foundation)?
I f Yes, No
complete Schedule A
1
2
I s the
organization required
t o complete Schedule
B ,
Schedule o f
Contributors (see instructions)?
2
No
3
Di d
the
organization
e n g a g e
direct or
indirect p o l i t i c a l campaign activities on
behalf
o f or i n opposition t o No
candidates f o r
public o f f i c e ?
I f
Yes, complete Schedule C , P a r t I 3
4
Section
50 1
c)(3) organizations
Did
the
organization
engage
i n
lobbying
a c t i v i t i e s ,
or
ha ve
a
section
501(h)
election
i n
e f f e c t during th e t ax year? I f Yes, complete
Schedule
C , P a r t
I I
4
5 I s the organization a section
501 c 4 , 501
c 5 ,
or
501(c)(6)
organization that receives membership dues,
assessments, or similar
amounts
a s de fin ed
i n Revenue
Procedure
98-19? I f Yes, complete Schedule
C ,
P a r t
II I
5
N
o
6
Di d
the
organization
maintain any donor advised
funds or
any similar funds
or
accounts f o r w hi c h d o no r s ha ve the
r i g h t t o provide advice on the distribution or investment
o f
amounts i n such funds or accounts? I f Yes, complete
Schedule D ,
P a r t
I
6
N
o
7
Di d the organization receive
or
hold a
conservation easement,
including
easements t o preserve o pen space,
th e
environment,
h i s t o r i c land areas, or h i s t o r i c structures?
I f
Yes, complete Schedule D , P a r t IIS
7
No
8 Di d the
organization
maintain collections
o f
works o f a r t , historical treasures, or other similar assets?
I f
Yes,
complete Schedule
D , P a r t II I
8
N
o
9
Di d the organization report an amount
i n
Part
X , l i n e 21 f o r
escrow or custodial
account l i a b i l i t y , serve
as a
custodian f o r amounts no t
l i s t e d i n Part
X ,
or provide
credit counseling, debt
management, credit r e p a i r , or
debt
negotiation
services?
I f
Yes, complete
Schedule D , P a r t I V
9
No
10
Di d
the organization, directly
or
through
a related organization, hold
assets
i n temporarily restricted endowments,
10
No
permanent endowments, or quasi-endowments? I f Yes, complete
Schedule
D , P a r t
V
11 If the organization s
answer
t o any o f the
following
questions i s
Yes, then
c o m p le t e S c he du le
D, Pa rts V I, VI I ,
VIII, IX ,
or X
a s a p pl ic able
a Di d
the
organization report an amount
f o r l a n d ,
buildings,
and
equipment
i n Part X , l i n e
10?
I f Yes,
complete Schedule
D ,
P a r t
V I .
ll a
Y es
b Did
the
organization
report an amount f o r investments-other securities i n
Part
X , l i n e 12 that i s 5
or
more o f
it s
t o t a l assets
reported
i n
Part
X , l i n e 16? I f Yes, complete Schedule D ,
P a r t
VIIS
llb
No
c Di d
the
organization
report
an amount
f o r investments-program related
i n Part
X , l i n e 13 that i s 5
or more
o f
it s
t o t a l assets
reported i n
Part
X , l i n e
16?
I f
Yes,
complete
Schedule D , P a r t VIII
ll c
Y es
d
Di d the
organization
report an amount f o r other
assets
i n Part X ,
l i n e 15
that
i s
5 or more
o f
t s t o t a l
assets
reported
n Part X , n
e
16 ? I f Yes, complete Schedule D , P a r t IX
lid
No
e
Di d
the
organization
report an
amount
f o r other
l i a b i l i t i e s
i n Part X , l i n e 25? I f
Yes, complete
Schedule D , P a r t X
ll e Y es
f Di d the organization s
separate
or
consolidated financial
statements f o r th e t ax
year
include a footnote that
ll f Y es
addresses
the organization s
l i a b i l i t y
f o r
uncertain
ta x
positions
under
FI N
48
ASC
740)?
I f Yes,
complete
Schedule
D , P a r t X.
12a Di d the
organization obtain
separate, independent audited f i n a n c i a l statements f o r th e ta x year?
I f Yes, complete Schedule D , Parts X I and X I I
12a
Y es
b
Was th e
organization included
consolidated, independent
audited
financial statements f o r t he t ax year? I f
12b No
Yes, and
i f
the organization answered No t o l in e 12a, then completing
Schedule
D , Parts X I a nd X I I i s
optional
IN
13
I s the
organization
a scho o l described section
170(b)(1)(A)(ii)?
I f
Yes, completeScheduleE
13 No
14a
Di d
the
organization
maintain
an
o f f i c e , employees, or agents
outside
o f the U n it ed S t at e s? 14a No
b
Di d the organization ha ve
aggregate
revenues or ex penses
o f
more than 10,000 from
grantmaking,
fundraising,
b us in e ss , i n ve st me n t, a n d
pr ogram
service
activities
outside
th e
United States,
or
aggregate
foreign
investments
valued a t 100,000 or more? I f Yes, complete Schedule F Parts I a nd IV
14b No
15
Di d
the
organization report on
Part IX ,
column A ,
l i n e 3 ,
more
than 5,000
o f grants or
other assistance t o
or
f o r
any
foreign organization? I f
Yes,
complete
Schedule
F
Parts
I I
a nd I V
15
No
16
Di d
the
organization
report
on
Part IX ,
column A ,
l i n e
3 ,
more
than 5,000
o f
aggregate
grants or
other
assistance
t o or f o r foreign individuals? I f
Yes,
complete
Schedule F
P a r t s
III
and
I V
16
No
17
Di d
the
organization
report a
t o t a l o f
more
than 15,000 o f ex penses f o r
professional fundraising
s er vi ce s o n
Part
17 No
IX , column A , l i n e s 6
and 11e?
I f Yes, complete
Schedule G ,
P a r t I
(see instructions)
18
Di d the
organization
report more than 15,000
t ot a l o f
fundraising
event
gross income
and
contributions
on Part
VIII, l i n e s
1c a nd 8a ?
I f
Yes, complete Schedule G ,
P a r t I I
18
No
19 Di d
the
organization
report
more
than 15,000
o f
gross
income
from
gaming
activities
on Part VIII,
l i n e
9a ?
I f
19
No
Yes, complete Schedule G ,
P a r t II I
20a
Di d the organization operate
o ne
or more hospital
f a ci l i t i es ? I f Yes, completeScheduleH
20a
No
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
4/26
Form
99 0
(2014)
Page
4
Checklist of
Required
Schedules (continued)
21
Di d th e organization report more than
5,000
o f grants or other
assistance t o any
domestic organization or
21
Ye s
domestic government on
Part
IX , column A ) , l i n e 1? I f
Yes,
complete Schedule
I ,
P a r t s I an d I I
22
Di d
th e
organization
report more than 5,000
o f grants or
other assistance t o
or
f o r domestic
individuals o n Part
22
IX ,
column A ) ,
l i n e 2? I f
Yes,
complete Schedule I , P a r t s I and II I
Ye s
23 Di d th e organization answer
Yes t o
P ar t V I I, Section A,
l i n e 3 , 4 ,
or
5 about
compens ation
o f
the organization s
current
a nd f or me r o f f i c e r s ,
directors, trustees,
ke y employees, and
highest compensated
employees? I f Yes,
23
Ye s
complete Schedule
J
IN
24a
Di d th e
organization
ha v e a tax-exempt bond
issue
with an outstanding principal amount
o f
more than
100,000
as o f th e l a s t
day
o f t he year , t ha t wa s issued a f t e r December 31 , 2002?
If Yes, answer l i n e s
24b through
24d
and complete Schedule K . I f No, go t o l i n e 25a
24a
N
o
b
Di d th e organization
invest
any
proceeds
o f
tax-exempt
bonds beyond a temporary period
exception?
24b
c Di d th e organi zati on main tai n an escrow
account
o th e r t ha n a refunding escrow
a t any
t i me d urin g th e
year
t o d ef ea s e a ny
tax-exempt
bonds?
24c
d Did th e o rg ani za tio n a ct a s a n
on
behalf of issuer
f o r bonds outstanding a t any
t i me d urin g th e
year?
24 d
25a
Section 501(c
)
3 ) , 50 1 c)(4),
and
50 1
c)(29) organizations
Di d
th e
organization
engage i n an
excess benefit
transaction with a disqualified
person
during
th e year?
I f
Yes, complete Schedule L , P a r t I
25a
b
I s th e
organization
aware that i t engaged i n an excess benefit transaction with a disqualified
person
i n a p r i o r
year,
an d
t ha t t he transaction
has
no t been r ep or te d o n
any o f
the organization s p r i o r Forms 990 or 990-EZ? I f
25b
Yes, complete Schedule L , P a r t I
26 Di d
th e
organization report
any
amount o n Pa rt X ,
l i n e 5 , 6 , or 22 f o r
recei v ables f rom
or payables t o any
current
or
former o f f i c e r s ,
directors, trustees,
ke y employees, highest
compensated
employees,
or disqualified
persons?
26
No
I f
Yes, complete
Schedule
L ,
P a r t
I I
19
27 Di d
th e
organization provide a grant or other
assistance t o
an
o f f i c e r , director,
trustee,
ke y employee,
substantial
contributor
or employee
thereof,
a
grant selection
committee member,
or
t o a
35
controlled entity
or
family
27
No
member
o f
an y o f these
persons? I f
Yes, complete
Schedule L ,
P a r t
I II
ID
28 Was th e organization a party t o a
business
transaction with
one o f
the following parties (see Schedule L ,
Part
I V
instructions f o r
applicable
f i l i n g
thresholds, conditions,
a n d e xc e pt i on s )
a A current
or former
o f f i c e r ,
director,
t ru st ee , o r
ke y
employee?
I f
Yes, complete
Schedule L ,
P a r t
I V
95
28a No
b
A family member o f a
current or
former
o f f i c e r ,
director, trustee, or ke y employee? I f Yes,
complete Schedule L , P a r t
I V
28b
No
c A n
entity
o f
which
a current or
former
o f f i c e r ,
director,
trustee,
or ke y
employee o r a family
member
thereof) wa s
an
o f f i c e r ,
director, trustee,
or direct
or indirect owner? I f Yes, complete Schedule
L ,
P a r t I V
28c
Ye s
29
Di d
th e
organization receive more
than 25,000
i n non-cash contributions?
I f Yes, completeScheduleM
29
No
30
Di d
th e
organization receive contributions o f
a r t , historical treasures
or other similar assets, or
q u a l i f i e d
conservation contributions? I f
Yes,
complete Schedule
30
No
31
Di d
th e
organization
l i q u i d a t e ,
terminate, or dissolve
and ce a se operations? I f
Yes, complete
Schedule N ,
P a r t I
31
N
o
32
Di d
th e
organization
s e l l , exchange dispose o f
or
transfer
more
than
25
o f
i t s
ne t assets? I f
Y e s , complete
Schedule
N , P ar t I I
32
N
o
33 Di d th e
organization
own 100
o f
an entity disregarded
as
separate from th e
organization
under Regulations
sections 301 7701-2
an d
301 7701-3?
I f Yes, complete Schedule
R , PartI
33
No
34 Was th e organization related t o
any
tax-exempt or taxable entity?
I f
Yes, complete Schedule R , P a r t II , I I I , orIV,
and
P a r t V
l i n e
34
N
o
35 a Di d th e organization ha v e a controlled
entity within
th e meaning
o f
section
512(b)(13)7
35 a
N
o
b
If Yes to
l i n e 35a, d i d
th e organization receive
any
payment from or engage i n
any
transaction with a controlled
35 b
entity within
th e meaning
o f
section 512 (b)(13 )? I f Yes, complete
Schedule
R , P a r t V
l i n e
2
36
Section 501(c
)
3) organizations
Di d
th e organization make
any
transfers t o an exempt non-charitable related
organization?
I f Yes, complete Schedule
R , P a r t V ,
l i n e
2
36
37
Di d th e organization
conduct
more than
5
o f i ts
activities through
an
entity
that
i s
no t a related organization
and that i s
t re at ed a s
a
partnership
f o r federal
income
tax p ur po se s? I f Yes, complete Schedule R , P a r t
VI
37
No
38
Di d th e organization
c o mp l et e S c h ed u le
0
and
provide
explanations i n Schedule
f o r
P ar t V I, l i n e s
1 lb
and
9?
Note
A l l Form 990 f i l e r s ar e
required
t o c o mp l et e S c h ed u le 0
38
Ye s
F or m 990
(2014)
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
5/26
Form
990
(2014)
Page 5
M W
Statements
Regarding Other IRS Filings
and
x
Compliance
Check
i
Schedule
contains a response
or note
t o any l i n e
i n
t h i s
Part
V (-
Yes No
la
Enter the
number reported Bo x
3
o f Form 1096
Enter
-0- i
no t
applicable
la 99
b
Enter the
number o f Forms
W-2G
included i n
l i n e
la
Enter-0- i f no t
applicable
lb 0
c Di d
the
organization comply with backup withholding
r u l e s f o r
reportable
payments t o
vendors
and
reportable
gaming (gambling) winnings t o p r i z e winners?
1c
2a Enter
the
number
o f
employees
reported on
Form W-3,
Transmittal
o f
Wage
and
Tax Statements, f i l e d f o r the calendar
year
ending with o r w it hi n t he
year
covered
by
t h i s
return
2a 431
b
I f
a t least
one i s
reported on
l i n e
2a, d i d the organization
f i l e a l l
required
federal
employment tax returns?
Note
I f the
sum
o f
l i n e s la
and 2a i s
greater than
250 yo u
may be required
t o
e - f i l e (see
instructions)
2b
Yes
3a
Di d the organization have unrelated
b u si n es s g ro ss
income o f 1 000 or more during the
year?
3a Yes
b
I f
Yes,
ha s i t f i l e d a Form 990-T
f or t h i s
year?
I f
No
t o l i n e 3b, provide
an
explanation
i n Schedule
O
3b
Yes
4a At any time
during
the calendar
year,
d i d the
organization
have
an interest
i n
or
a
signature or
other authority
over, a f i n a n c i a l account i n a foreign country (such
as
a bank account, securities account, or other f i n a n c i a l
account)?
No
b
I f
Yes, enter
the
name
o f the
foreign
country
0
Se e instructions f o r f i l i n g
requirements
f o r FinCEN Form 114, Report
o f
Foreign Bank
and
Financial Accounts
(FBA
R)
5a Was the
organization
a party t o a prohibited tax
shelter
transaction
a t any
time
during
t he t ax year?
5a No
b Did
any
taxable party n o t i f y the organization that i t w as or
i s
a party
t o
a prohibited tax shelter transaction?
5b
No
c
I f
Yes,
t o l i n e 5a or
5b,
d i d the
organization
f i l e
Form 8886-T?
5c
6a Does the
organization
have annual gross
receipts
t ha t a re normally greater than 100 000
and
d i d the
organization
s o l i c i t any
contributions that
were
n ot t ax deductible
as
charitable contributions?
b
I f
Yes,
d i d the
organization include
with every solicitation an express s t a tement that such
contributions
or
g i f t s
were
n ot ta x deductible?
7
Organizations
that
may
receive deductible contributions under section 170(c).
a Di d
the
organization receive a payment i n excess
o f 75 made p a r t l y
as a contribution
and p a r t l y f o r goods and
services provided t o the payor?
b
I f
Yes,
d i d the
organization
n o t i f y the donor
o f
the
value o f
the goods or services provided?
c Di d
the
organization
s e l l , exchange,
or
otherwise dispose o f tangible personal
property
f o r which i t
w as required
t o
f i l e Form 82827
d
I f
Yes,
indicate the number o f
Forms
8282 f i l e d
during
the year 7d
e Di d the
organization
receive
any
funds,
directly or i n d i r e c t l y , t o pa y premiums on a personal benefit
contract?
f Di d the organization,
during
the year,
pa y premiums,
directly or i n d i r e c t l y , on a personal benefit contract?
g
I f the
organization
received a
contribution o f
q u a l i f i e d i n t e l l e ct u a l property,
d i d
the
organization
f i l e
Form 8899 as
required?
h
I f the
organization
received a
contribution o f
cars,
boats,
airplanes,
or
other
vehicles,
d i d the
organization
f i l e a
Form 1098-C?
8 Sp on so ri ng o rg an iz at io ns ma in ta in in g donor advised
funds.
Di d a donor
advised
fund
maintained
by the
sponsoring
organization have excess
business
holdings
a t any
time
during
the
year?
9a
Di d
the sponsoring
organization
make
any
taxable distributions under section 4966?
b
Di d the
sponsoring
organization make a distribution t o a donor, donor advisor, or related
person?
10
Section 501(c
7) organizations. Enter
a I n i t i a t i o n fees
and
capital contrib utions included on Part VIII,
l i n e 12 10a
b
Gross
receipts, included on Form 990,
Part
VIII,
l i n e
12,
f o r
public
us e o f club 10b
f a c i l i t i e s
11 Section
501(c
12) organizations. Enter
a
Gross
income
from
members or
shareholders 11a 360 823 650
b
Gross
income
from other sources (D o n ot n et amounts du e
or
paid t o other sources
against
amounts du e
or received from
them
11b
1 32 233
6a
Yes
6b
Yes
7a
7b
7c
7e
7f
7g
7h
8
9a
9b
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
6/26
Form 990 (2014)
Page 6
Governance , Management,
and
Disclosure For each Yes response t o
l i n e s
2 throu gh 7 b b elow ,
and f o r
a
No
response t o
l i n e s
8 a , 8 b , or 1O b
below,
describe
t h e circumstances, processes,
or
changes
i n
Schedule
0 .
See instructions.
Check i f
Schedule
contains a response
or note
t o any l i n e
i n
t h i s
Part
VI
.F
Section
A Governing Body and
Management
Yes
No
la
Enter th e number o f
voting
members o f th e governing body a t th e
en d
o f t he t ax
la
9
year
I f
there
are
material
differences i n
voting
r i g h t s among members
o f
th e governing
body, or i f th e
governing
body
delegated
broad authority
t o
an
executive
committee
or
similar committee,
explain i n
Schedule
0
b
Enter th e number
o f voting members included
i n l i n e
la,
above,
w ho are
independent
lb 9
2 Did
any
o f f i c e r ,
director, trustee,
or
ke y
employee
have a family relationship
or
a business relationship
with
any
other
o f f i c e r ,
director, trustee, or ke y employee?
2
No
3
Di d
th e
organization
delegate control over management duties cus tomarily perf or med
by or
under th e
direct
3 No
supervision o f
o f f i c e r s ,
directors or trustees,
or ke y
employees t o a management company or other
person?
4 Di d th e
organization
make
any
significant changes t o t s governing documents since th e p r i o r Form 990 was
f i l e d ?
No
5 Did th e organization become aware
during
th e
year o f
a significant diversion o f the organization s assets? 5 No
6
Di d
th e
organization
have
members or
stockholders? 6
Y es
7a
Di d
th e
organization
have members stockholders,
or other
persons
who
ha d th e p ow er t o
e le ct o r
a pp oi nt o n e
or
more
members o f th e governing body?
7a
Y es
b
Ar e any govern ance decisions
o f
th e
organization
reserved t o
o r
subject t o approval by) members stockholders, 7 b
Y es
or
persons
ot her t h an th e governing body?
8
Di d
th e
organization contemporaneously
document th e meetings held
or written
actions undertaken
during
th e
year
by
the following
a The governing body?
8a Y es
b Each committee with authority
t o
act o n b eha lf o f th e
governing b ody? 8b
Y es
9
I s there
any
o f f i c e r , director, trustee, or
ke y
employee l i s t e d i n Part VII,
Section
A, w ho cannot be reached
a t
th e
organization s
mailing
address? I f
Yes, provide
th e
names
an d addresses i n Schedule
0
9
No
Section B .
Policies
T h i s
Section B
r e q uests
information about
p
o l i c i e s
no t
r e q u ired b y
t h e Internal Revenue Code.)
Yes No
10a Di d th e
organization
have l o c a l chapters, branches, or
a f f i l i a t e s ?
10a No
b
I f
Yes, d i d th e organization have written
policies a n d p r oc ed ur es g ov e rn in g
th e
activities o f such
chapters,
a f f i l i a t e s ,
and branches t o ensure their operations
are
consistent
with
th e
organization s
exempt purposes?
10b
11a
Has
th e
organization
provided
a
c om p le t e c op y
o f
t h i s
Form 990
t o l l
members
o f
i t s
governing body before f i l i n g
th e form?
11a
Y es
b
Describe
i n
Schedule
0
th e process, i f
any,
used
by
th e
organization
t o review t h i s
Form 990
12a
Di d
th e
organization
have a
written
conflict o f
interest
policy?
I f
No, go t o l i n e 13 12a
Y es
b
Were o f f i c e r s , directors, or
trustees,
and
ke y employees
required
t o disclose annually interests that could give
r is e t o
conflicts?
12b
Y es
c Di d th e organization regularly
and
consistently
m o ni t or a n d
enforce compliance
with
the policy?
I f
Yes, describe
i n Schedule
0
how
t h i s w as done
12c Y es
13
Di d th e organization have a written whistleblower policy?
13
Y es
14 Di d th e organization have a written
document
retention
and
destruction policy?
14 Y es
15
Di d
th e process f o r determining
compensation
o f th e
following
persons
include
a r ev ie w a n d a pp ro va l
by
independent persons, comparability data,
and
contemporaneous substantiation
o f
the deliberation
and
decision?
a
The organization s
CEO
Executive Director,
or to p
management o f f i c i a l 15 a
Y es
b Other
o f f i c e r s or ke y
employees
o f th e
organization
15 b
Y es
I f
Yes
t o
l i n e
15 a
or 15b,
describe th e
process
i n Schedule
(see instructions)
16 a Di d th e
organization invest
i n
contribute
assets t o ,
or participate i n a j o i n t venture or similar arrangement with a
taxable
entity
during th e year?
16a
No
b
I f
Yes,
d i d th e organization follow a written policy
or procedure
requiring the organization t o evaluate it s
participation
j o i n t
venture arran gemen ts under
applicable
federal ta x
l a w ,
and
take
steps t o safeguard th e
organization s exempt
status with
respect t o s u ch a r r an g e m e nt s ?
16 b
Section C . Disclosure
17
L i s t th e States with
which
a copy
o f
t h i s Form 990
i s
required
t o
be
filed-
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
7/26
Form
99 0
(2014)
Page 7
Compensation
of Officers
Directors
Trustees
Key
Employees
Highest
Compensated
Employees and Independent Contractors
Check i f
Schedule
0
contains a response
or note
t o any l i n e
i n
t h i s
Part
VI I . -
Section A. Officers, Directors, Trustees,
Kev
Employees, and
Highest
Compensated Employees
la Complete
t h i s
table f o r a l l persons required t o
be
l i s t e d Report
compensation f o r the calendar year ending with or within the organization s
tax
year
L i s t
a l l o f
the
organization
s current o f f i c e r s , directors, trustees (whether individuals
or organizations),
regardless o f amount
o f
compensation
Enter-0-
columns
D , E ,
and F i f no c o mp e ns a ti o n w a s paid
L i s t
a l l
o f
the
organization
s
current ke y
employees,
i f
any
Se e
instructions
f o r
d e f i n i t i o n
o f
k ey employee
L i s t the organization s f i v e
current
highest compensated
employees (other
than an o f f i c e r , director,
trustee or
ke y employee)
who received reportable compensation (Box 5
o f
Form W-2
and/or
Box 7 o f Form 1099-MISC)
o f
more than 100,000 from the
organization a nd a ny related organizations
L i s t a l l o f the organization s former
o f f i c e r s , ke y
employees, or highest compensated employees w ho received more than 100,000
o f
reportable
compensation from the
organization
a nd a ny
related organizations
L i s t a l l o f
the
organization
s
former directors or
trustees
that received, i n
the capacity
as a
former director
or trustee
o f the
organization,
more than
10,000 o f reportable
compensation from the
organization
a nd a ny related
organizations
L i s t
persons i n the
following order individual trustees or
directors, i n s t i t u t i o n a l
trustees, o f f i c e r s ,
ke y
employees,
highest
compensated employees, and
former
such persons
Check
t h i s
b ox
i f
neither
the
organization nor
any
related
organization
compensated
any
current
o f f i c e r ,
director,
or
trustee
(A)
(B ) (C) (D
)
E
(F)
Name and T i t l e Average
Position
(do no t check Reportable Reportable Estimated
hours per more than one
box,
unless c om pe nsa ti on c om pe ns ati on
amount o f
week l i s t person
i s both
an o f f i c e r from the from related other
any hours and a
director/trustee)
o rg aniz atio n or ga niz ations compensation
f o r related
5 0 = T
(W -
2/1099-
(W -
2/1099-
from the
organizations
C L
: 1
f D
ado
a
MISC)
MISC)
organization
below m
D
a r t ,
and related
dotted l i n e u
S
_
organizations
1 RA Y F VICK 10 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X
X
39,502 0 0
TRUSTEE-PRES
2 RICHARD BELLES
20
00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 36,752 0 0
TRUSTEE
3 WILLIAM JAMES JR 7 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
29,252
0 0
TRUSTEE
4 DILLARD B BOYATT
6 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 26,753 0 0
TRUSTEE
5 EARL MUFFETT 7 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 25,753 0 0
TRUSTEE
6 ROBIN
R
HENION 5
00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
X 22,752 0 0
TRUSTEE
7 SCOTT BOYATT 5 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 19,752 0 0
TRUSTEE
8 JERRY D H A TF I ELD 4
00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
X
X
15,253 0 0
TRUSTEE-V P
9 JAMES HOLTZ
2 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . X
X
10,753 0 0
TRUSTEE - SE
(10)
JAMES P DUNCAN 62 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
X 968,498 0
90,136
CEO
(11) EUGENE V KANIKOVSKY
58 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
X
264,853 0 68,828
CFO
(12)
TED
PURSER
40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X 90,774 0
10,570
CFO
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
8/26
Form 990 (2014)
Page 8
Section
A.
Officers
,
Directors
, Trustees ,
Key Employees, and Highest Compensated
Employees
(continued)
(A)
(B)
(C)
(D)
(E)
(F)
Name an d
T i t l e Average
Position
(do not check Reportable Reportable Estimated
hours
per more
than on e box, unless
c om pen sa ti on c om pe nsa ti on
amount
o f
other
week
l i s t
person
i s b oth a n o f f i c e r from the from related compensation
an y
hours
an d
a director / trustee
organization organizations from the
f o r
related
0
5 0 =
T
(W - 2/1099- W- 2/1099-
organization
organizations c
f D
ad o
a
MISC) MISC)
an d
related
below
Q
5
m
D
U _
a
i t organizations
dotted
l i n e u
_
Q a ,
D
c
(15)
BARRY BOWMAN 40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
284,469 0 62,961
DIR
COR COMM
(16)
ALEX
MARKLEY
24
00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
199,059
0 8,233
DIR HR COR
(17)
GREGGORY H MORRELL 40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
155,072 0 30,657
DIR HR
COR
(18) ROBERT
I
CROWLEY 40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
203,454
0
29,520
MGR
TECH
SE R
(19) ALAN
D KIMBLEY 40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
178,727 0 52,702
ENG SRVS
SU P
(20) MICHAEL
I ROBERGE
40 00
....
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . .
X
169,246
0
64,494
MGR
ENG
SRVS
(21) KENNY
I
RODRIGUE 40 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X
163,887
0
48,385
MGR
SUBST
(22)
THOMAS
MCDANIEL 45 00
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X 162,215 0 72,7 79
CONTROLLER
lb
Su b - Total
0 -
c
Total from continuation sheets to Part VII, Section
A
0 -
d Total ad d l i n e s
lb
an d 1c
0 -
3 7 1 1 1 9 3 749,812
2 Total
number o f individuals (including but not limited t o those l i s t e d above) who received
more
than
100,000 o f
reportable
compensation from the
organization-69
Yes
No
3
Did
the
organization l i s t
an y
former
o f f i c e r director
or
trustee, key employee,
or
highest compensated employee
on
l i n e
la ?
I f Yes,
complete Schedule Jfor
such
individual
3 No
4 For
an y individual
l i s t e d on
l i n e
la, i s the sum
o f
reportable compensation
an d
other compensation from the
organization
an d
related organizations greater than
150,0007 I f Yes,
complete Schedule
- 7
f o r such
individual
4 Yes
5 Did
a n y per son
l i s t e d on
l i n e
la receiv e
or accrue
compensation
from a n y
unrelated organization or
individual f o r
services
rendered
t o the organization?
I f
Yes,
complete Schedule
Jfor
such
person
5
No
Section
B.
Independent Contractors
1 Complete t h i s
table
f o r yourfive
highest
compensated independent contractors that received
more
than 100,000 o f
compensation
from
the
organization Report
compensation
f o r
the
calendar year ending
with
or
within
the organization s tax
year
(A) (B) (C)
Name
an d business address D es c r ip t io n o f s e r vi c es
Compensation
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
9/26
Form 990 2014
Page 9
Statement of evenue
Check i Schedule
contains a response or note
t o
any
l i n e i n t h i s Part VIII
A
B C D
Total
revenue Related
or
Unrelated Revenue
exempt
business
excluded from
function revenue ta x
under
revenue sections
512 514
la
Federated
campaigns
la
r
=
b
Membership dues
lb
6-
E c
Fundraising
events
1c
d
Related organizations ld
t J
e Government
grants
( c o n t r i b u t i o n s )
le
V
f A l l other c o n t r i b u t i o n s , g i t s g r a n t s , an d
if
59,561
^ y s i m i l a r amounts not i n c l u d e d above
g Noncash c o n tr i bu t i on s i n c l u d e d
i n
l i n e s
la-If
h
Total
Add
l i n e s la-1f
59,561
Business
Code
2a
SALE
OF ELECTRI CI TY
221000 358,502,502 358,502,502
a 2
b POLE
RENT L
221000 2,851,972 2,851,972
a c SERVICE CHARGE INCOME
221000 2,320,823 2,320,823
d
CAPITAL
CREDITS OTHER
221000
699,559 699,559
e
f
A l l other program service revenue
g Total
Add l i n e s 2a 2f
0 -
364,374,856
3 Investment
income
including
dividends,
interest,
and other
similar
amounts
503,042 503,042
4 Income from investment o f
tax-exempt
bo nd proceeds
•
0 -
5 Royalties
0 -
i ) Real
i i ) Personal
6a Gross
rents
52,195
b Less r e n t a l
16,837
expenses
c
Rental
income
35,358
o r
( l o s s )
d Net rental
inco me
o r l os s
l i m
35,358 35,358
i ) Securities
i i )
Other
7a
Gross amount
from
s a l e s o f
219,833
421,970
assets other
than inventory
b Less c o s t
or
other b a s i s an d 219,833 244,631
s a l e s
expenses
c Gain
or
( l o s s )
177,339
d Net g ai n o r los s
l i m
177,339 177,339
8a
Gross income from
fundraising
W
events
not including
o f
contributions
reported on l i n e 1c
Se e P art I V, l i n e
18
a
s
b
Less direct
expenses
b
c
Ne t income
or los s
from fundraising
events
0 -
9a
Gross
income
from gaming activities
Form 990 2014
Page
10
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
10/26
Statement of Functional xpenses
S ec ti on 501 c 3 a nd 501 c 4
organizations must
complete
l l columns A l l other organizations must
complete
column A
Check
i f Schedule
contains a response
or note
t o an y l i n e i n t h i s Part
IX
Do n o t i nc lu de amounts reported
on
lines 6b ,
7b ,
8b
9b , and 10b of Part VIII
A
T o t a l
expenses
B
Program
s e r v i c e
expenses
C
Management an d
general expenses
D
Fundraising
expenses
1
G ra nt s a nd
other
assistance t o
domestic organizations
an d
domestic
g ove rn me nt s S ee
P ar t I V, l i n e 21
5 4 , 0 0 0
2 G ra nt s a nd other assistance
t o
domestic
individuals Se e P ar t I V,
l i n e
22
3 6
,000
3
G ra nt s a nd
other
assistance
t o foreign
organizations,
foreign
governments, an d
foreign individuals See P ar t I V, l i n e s 15
an d 16
4
Benefits
paid
t o
or
f o r
members
4 , 2 1 0 , 2 1 1
5 Compensation
of
current
officers,
directors, trustees,
and
key
employees
3,315,600
6 Compensation no t included above, t o disqualified
persons
as
defined under section
4958 f 1 and per sons
described
i n
section
4958 c 3 B
7
Other
salaries
and wages 1,145,409
8
Pension plan accruals
an d
contributions include section 401 k
an d
403 b
employer contributions
9
Other employee benefits
10
Payroll taxes
11
F ees
f o r services non-employees
a Management
b
Legal
c
Accounting
d
Lobbying
e
Professional fundraising
services
See
P ar t I V, l i n e 17
f Investment management fees
g
Other I f
l i n e
11g
amount
exceeds 10 o f
l i n e
25, column A
amount,
l i s t
l i n e 11g
expenses on
Schedule O)
12
Advertising
a n d p romo t io n
13
Office expenses
14
Information technology
15
Royalties
16
Occupancy
17
Travel
18 Payments
o f
travel
or
entertainment
expenses f o r
an y federal,
state,
or l o c a l public o f f i c i a l s
19 C onfe re nc es , con ven tio ns, an d
meetings
20
Interest
12,971,756
21 Payments t o a f f i li a te s
22 Depreciation, depletion,
an d
amortization 22,491,045
23 Insurance
24
O th e r e x pe n se s Itemize expenses not covered
above
L i s t
miscellaneous
expenses
i n l i n e 24e I f l in e 24e amount
exceeds 10
o f l i n e 25, column A amount,
l i s t
l i n e 24e expenses on Schedule
a
PURCHASED POW R 254,026,879
b
DISTR EXPENSE
MAINT
21,931,613
c
DISTR
EXPENSE
OPERAT
1 3 , 9 1 5 , 7 8 4
d
ONSUM R
ACCT /CUST SER 1 1 , 9 2 8 , 4 8 2
e All other expenses 11,739,866
25
Total functional expenses
Add l i n e s
through 24e
357,766,645 0 0 0
Form
99 0
2014)
Page
11
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
11/26
Balance Sheet
Check
Schedule
contains a response or note
t o an y l i n e
n
t h i s
Part X
A) B )
Beginning
o f year
En d
o f year
1
Cash-non-interest-bearing
2,251,843
1
3,267,124
2
Savings
an d
t e mp or a ry c as h i n ve s tm en t s
2
3
P le dg es a nd
grants
receivable,
ne t 3
4 Accounts r e ce i va b le , n e t
21,837,514
4
21,853,543
5
Loans and
o t he r r ec ei va b le s f r om cur re nt
a nd f or me r o f f i c e r s
directors, trustees,
ke y
employees,
and
highest compensated
employees omplete
Part
I I
o f
Schedule
L
5
6 Loans
and
o t he r r ec ei va b le s f r om o t he r disqualified
persons
as
defined
under section
4958 f) 1)),
persons describ ed
i n section
49 58 c) 3) B), and
contributing
employers
a n d s po n so r in g
organizations
o f
section
501 c) 9)
voluntary
employees beneficiary
organizations see instructions) omplete
Part
I I
o f
Schedule
L
6
7
Notes
and loans receivable,
ne t
7
8 Inventories fo r sale
or use
12,543,035 8 12,099,129
9 Prepaid
expenses and
deferred
charges
10,668,309 9 10,028,082
10a
Land, buildings,
and
equipment
cost
or other basis
omplete Part
VI o f S ch ed ul e D
10 a
735,811,028
b
Less accumulated
depreciation 10b
153,507,530 549,656,139
10c
582,303,498
11 Investments-publicly traded securities 11
12
Investments-other securities Se e P ar t IV ,
l i n e
11
12
13
Investments-program-related See P ar t I V,
line
11
56,714,152
13
63,781,444
14 Intangible
assets
14
15 Other assets
Se e
P ar t I V, l i n e 11 15
16 Total assets Add
lines
through 15 must e qual line 34
653,670,992
16
693,332,820
17
Accounts
payable
and accrued expenses
39,085,341
17
46,833,528
18 Grants payable 18
19
Deferred revenue
19
20 Tax-exempt bond
l i a b i l i t i e s
20
21 Escrow or
custodial
account l i a b i l i t y
omplete
Part
IV
o f S ch ed ul e D 21
22 Loans
and other payables
t o
current a nd f or me r
o f f i c e r s
directors,
trustees,
ke y employees, highest compensated employees,
and
disqualified
persons
omplete Part
I I
o f
Schedule L 22
23
Secured mortgages
and notes
payable
to
unrelated
third
parties
357,791,479 23 375,089,507
24
Unsecured notes and
loans payable
to
unrelated
third
parties
26,352,651
24
24,140,686
25
Other l i a b i l i t i e s
including federal income t a x
payables t o
related
t h i r d parties,
and
other
l i a b i l i t i e s
no t
included
on l i n e s 17-24
omplete Part X
o f Schedule
D
23,451,539
25
25,552,682
26
Total
liabilities
Add
lines
17 through
25
446,681,010
26
471,616,403
Organizations that follow
SFAS
117 ASC
958),
check here
1
F-and
complete
l i n e s 2 7 t hr o ug h 29, and l i n e s 33 and 34.
u
27 Unrestricted ne t assets 27
M
c a
28
Temporarily
restricted net
assets
28
r
29 Permanently restricted net
assets
29
_
Organizations
that do no t
follow
SFAS
117 ASC
95 8
, check here
1 - and
W _
complete l i n e s
30
through 34.
30 Capital
stock o r t rus t
principal,
or current funds
809,379
30
829,990
31
Paid-in o r c ap it a l
surplus,
or
land,
b ui ld in g o r
equipment fund
2,632,933
31
2,638,856
4T
32
Retained
earnings,
endowment, accumulated
income,
or
other funds
203,547,670
32
218,247,571
33
To ta l n et assets or fund balances
206,989,982
33
221,716,417
z
Form
99 0
(2014)
Page
12
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
12/26
«
Reconcilliation of Net Assets
Check Schedule
contains a response or note t o
any l i n e
n
t h i s
Part
XI
1 Total r ev enue ( m us t e qua l P ar t V II I, column A ,
l i n e 12)
2 Total expenses (must e qua l P ar t
IX ,
column
A , l i n e
25 )
3 Revenue
less expenses
Subtract l i n e 2
from
l i n e
4
Ne t assets or fund balances a t beginning o f year (must
e qua l P ar t
X , l i n e 33 ,
column
(A))
5
Ne t
unrealized gains (losses)
on investments
6 Donated services
and
us e
o f
f a c i l i t i e s
7 I n ve s t me nt expen s es
8
Prior period adjustments
9
Othe r chan g es
n net assets
or fund
balances
(explain
n Schedule
0
10 Ne t assets or fund balances a t end
o f
year Combine l i n e s 3 through 9 (must
e qua l P ar t
X , l i n e 33 ,
column
B
1 365,150,093
2 357,766,645
3
7,383,448
206,989,982
5
6
7
8
9 7,342,987
10
221,716,417
Financial
Statements and Reporting
Check
Schedule
contains
a response
or note
t o any l i n e
n t h i s Part
XII
(-
Yes
No
1
Accounting method used t o prepare the
Form 990
fl
Cash
17 Accrual Other
I f
the organization
changed t s method
o f
accounting
from a p r i o r
year
or
checked
Other, explain
n
Schedule
0
2a Were the organization s f i n a n c i a l
statements
compiled or
reviewed
by an independent accountant? 2a
If Yes, check
a
bo x
below t o indicate whether the f i n a n c i a l statements
f o r
the
y ea r w e re
compiled or
reviewed
on
a
separate
basis,
consolidated
b as is , o r both
fl Separate basis fl
Consolidated
basis fl
B ot h c on so li da te d a nd s e pa r at e
basis
b
Were the organization s f i n a n c i a l statements
a udite d by a n
independent accountant? 2b
Ye s
If Yes, check a bo x below t o indicate whether the f i n a n c i a l statements f o r the y ea r w e re
audited on
a separate
basis, consolidated basis, or both
Separate
basis fl Consolidated basis fl Both consolidated and separate basis
c
I f
Yes,
t o
l i n e 2a or
2b, does the organization have a committee that assumes responsibility
f o r
oversight
o f
the
a u d i t ,
review,
or compilation o f
t s
f i n a n c i a l statements and
selection
o f
an independent
accountant?
2c Ye s
I f
the organization changed either t s oversight
process or
selection
process
during the ta x ye ar , explain n
Schedule
0
3a As
a result o f
a federal award,
was
the
organization required
t o
undergo an audit or a udits a s s et f o r t h n
the
Single
Audit
A ct
and
O
Circular
A-133?
3a
b
I f
Yes,
d i d the
organization
undergo the
required audit or audits?
I f the
organization
d i d not undergo the 3b
required
audit or audits,
explain
wh y n Schedule
and
describe
any
steps
taken
t o u nd er g o s uch audits
No
No
F or m 990
(2014)
lefile
GRAPHIC print
- DO
NOT PROCESS As Filed Data
- DLN:
93493225025045
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
13/26
SCHEDULE
D
Supplemental F i n a n c i a l Statements
O No 1545-0047
(Form 990)
Complete i f th e organization answered Yes, to Form 9 9 0 ,
2 0 1 4
Part
IV , l i n e
6 ,
7 ,
8 , 9 ,
1 0 , 11a, 1 1 b , 11c, 1 1d , 1 1e ,
11f
, 12a,
or
12b.
D e p a r t m e n t o f
th e
T r e a s u r y
0-
Attach
to Form 9 9 0 .
• . -
I n t e r n a l
Revenue
S e r v i c e
Information about Schedule
D
Form
990
and
its
instructions i s
at wwwirs.gov
/form990
Name
of
the organization Employer identification
number
SUMTER ELECTRIC COOPERATIVE INC
59-0469125
Organizations Maintaining Donor Advised Funds or Other
Sim ilar
Funds or Accounts. Complete i f the
or
g anization
answered Yes t o Form
990
Part
IV
l i n e 6 .
(a) Donor advised funds b ) F un ds a nd other a c c ounts
1 Total
number a t
end
o f
year
2 Aggregate value
o f
contributions
t o (during
year)
3
Aggregate value
o f
grants
from
during year)
4 Aggregate value a t end o f year
5
Di d the
organization inform
a l l d on or s a nd d on or advisors i n w r i t i n g t hat t he assets held
i n
d onor a dv i s ed
funds
a re the
organization
s
property
subject
t o
the
organization s exclusive
l e g a l
control?
F
Yes
I
No
6
Di d
the
organization inform
a l l grantees donors, a nd d on or advisors
i n
writing that
grant
funds c an
be
used only f o r
charitable
p ur po se s a nd not f o r the benefit o f the donor or donor advisor
or f o r any other purpose
conferring impermissible
private
benefit?
fl
Yes fl No
MRSTI
onservation
Easements. Complete i f
th e
organization answered Y es to Form 990
Part
IV,
l i n e 7 .
1 Purpose
s ) o f
conservation
easements held
by
the
organization
c h e c k
a l l that
apply)
Preservation o f
land
f o r
public
us e e g
recreation or
education Preservation o f an historically important
land area
Protection o f natural habitat Preservation
o f a
c e rt i fi e d h i s t or i c
structure
fl
Preservation o f open
spa ce
2 Complete
l i n e s
2 a
through
2d
i f
the
organization
held
a
q u a l i f i e d
conservation contribution i n
the
form
o f
a
conservation
easement on the l a s t da y o f the ta x year
a Total number
o f conservation easements
b
Total acreage restricted by conservation easements
c
Number
o f
conservation
easements on
a
c e r t i f i e d
h i s t o r i c
struc ture in c lu ded i n
a )
d
Number
o f conservation easements
included i n
c ) acquired a f t e r 8 /1 7 /0 6 , a nd not
on a
h i s t o r i c
structure
l i s t e d i n the National Register
Held at t he En d
of
the
Year
2a
2 b
2c
2d
3
N
umber
o f conservation easements modified, transferred,
released,
extinguished
or
terminated
by
the organization
during
the ta x
year
0 -
4
N
umber
o f states where property
subject t o conservation easement
i s located
0 -
5
Does the organization have
a
written policy regarding the periodic monitoring inspection handling o f violations, and
e nforc e me nt
o f the conservation easements i t holds?
fl
Yes fl No
6
Staff
and volunteer hours devoted t o
monitoring, inspecting
and
enforcing
conservation easements
during
the year
7
Amount
o f expens es
incurred
i n monitoring
inspecting
and
enforcing conservation
easements
during
the
year
8
Does
e a c h conservation
easement
reported on
l i n e
2(d)
above
satisfy the
requirements
o f
section 170(h)(4)(B)(i)
and section 170(h)(4)(B)(ii)?
F
Yes
No
9 In Part XIII, describe how the organization reports conservation easements i n it s r ev e nu e a nd expens e
statement,
and
balance sheet, and include, i f
applicable, the
text o f
the
footnote
t o the organization s financial statements
that
describes
the organization s
accounting
f o r conservation easements
Organizations
Maintaining
Collections
of Art , Historical
Treasures, or Other Sim ilar
Assets
Complete
i f the
oraanization
answered Yes
t o Form 9 9 0 .
Part
IV. l i n e 8 .
la
I f
the
org aniz ation elec ted , a s
permitted under
SFAS
116 ASC 958), not t o report i n
i t s
r ev e nu e s t at e me n t a nd balance
sheet
works o f a r t , historical treasures,
or
other similar assets held f o r
public
exhibition, education, or
research
i n furtherance o f public
service,
provide,
i n Part XIII,
the
text o f
the
footnote
t o
it s
financial statements
that
d es c ri be s t he se i te ms
b
I f
the
org aniz ation elec ted , a s permitted
under
SFAS
116 ASC
958),
t o
report
i n
it s
revenue state me nt a nd ba la nc e s he et
works o f
a r t ,
historical
treasures, or
other
similar assets held f o r public exhibition,
education,
or
research i n
furtherance o f public
service,
provide the
following
amounts relating t o these items
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
14/26
Sc he du le D ( Fo rm 990) 2014
Page
2
r:FTnFW
Organizations Maintaining Collections of rt
Historical Treasures
or Other Similar Assets c o n t i n u e d )
3 Using t h e o r ga n i z a t i o n s a c qu i s i ti o n , accession, and other r e c o r d s ,
check
any o f t h e
f o l l o w i n g
t ha t a re
a s i g n i f i c a n t
use o f
i t s
collection
items (check
a l l that apply)
a
F_
Public exhibition
d fl
Loan or exchange programs
b Scholarly
research
e
(- Other
c F
Preservation f o r future generations
4
Provide
a
description
o f
the organization s
collections an d explain
how
they
further the organization s
exempt
purpose i n
P art X I II
5 During the year,
d i d
the organization
s o l i c i t or
receive donations o f
a r t ,
historical treasures or other similar
assets t o
b e s o l d
t o
r a i s e funds r a t h e r than
t o
b e
maintained
a s p a r t
o f
t h e o r g an i za t i o n s c o l le c t i o n?
Yes
No
Escrow and
Custodial
Arrangements
Complete
i f
the
organization
answered
Yes
t o Form
990,
Part IV , l i n e 9 ,
or
reported an amount on Form
990,
Part X , l i n e 21 .
la I s the organization an agent, trustee,
custodian
or other intermediary
f o r
contributions or other
assets
not
included on
Form
990,
Part X7
Yes
F
No
b
If
Yes,
explain the arrangement i n
P art X II I
an d
complete the following table
c
Beginning balance
1c
d
Additions
during
the
year
ld
e
Distributions during
the year
le
f
Ending
balance
i f
Amount
2a Did
the
organization include an
amount
on F or m 9 90 ,
Part X , l i n e
2 1 ,
f o r
escrow or custodial
account l i a b i l i t y ?
Yes
No
b
If
Yes, explain
the
arrangement i n P art X II I Check here
i f the explanation has been
provided
i n P ar t X II I
MITIT
ndowment
Funds
om p l e t e
I f the
or g anization
answered
Yes
t o Form
990,
Part IV
l i n e 10 .
la
Beginning
o f
year b alance
b
Contributions
c
Net investment
earnings,
gains,
an d
losses
d
Grants or scholarships
e Other expenditures f o r f a c i li t ie s
an d programs
f Administrative expenses
g
En d o f
year b alance
(a)Current year (b)Prior
year
b
(c)Two
years back
(d)Three
y ea rs b ack (e) Four y ea rs b ack
2
Provide the
estimated
percentage o f the current
y e ar e nd b a la nc e l i n e
1g , column a ) ) held
as
a
Board designated
or
quasi endowment
b
Permanent
endowment
0
c
Temporarily
restricted endowment
0
The
percentages i n
l i n e s
2a ,
2b ,
a nd 2 c should
equal
100
3 a Ar e there endowment funds not i n the possession
o f
the organization that are held
and administered
f o r the
organization by
Yes No
i) unrelated organizations
3a(i)
i i)
related
organizations
3 a i i )
b
If Yes
t o
3 a i i ) ,
are the related organizations
l i s t e d
as required
on Schedule
R?
3 b
4
Describe
i n P art X II I
the intended
uses
o f the
organization s endowment
funds
Land
Buildings
and Equipment Complete i f the
organization
answered
Y e s t o Form
990,
Part I V , l i n e
a See Form 990 Part X l i n e 1 l
Description of
property
a ) Cost o r other
b a s i s
(investment)
(b)Cost or other
b a s i s o t he r )
c ) Accumulated
depreciation
(d) Book value
la
Land 15, 1 1 3, 946 1 5, 11 3 , 946
b Buildings
24,455, 644 7,856, 3 12 1 6, 599, 3 32
c
Leasehold
improvements
454,691 454,691
d Equipment 58,795, 841 3 9, 001 , 000 1 9,794,841
Sc he du le D F or m 990) 2014
Page 3
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
15/26
Investments-Other
Securities
Complete i f the
organization answered Y e s t o
Form 990, Part IV, l i n e 11b.
See
Form
99
Part
X
l i n e 12 .
a ) Description o f
security or
category b)Book value c ) Method o f
valuation
including name o f security) Cost or
end-of-year market
value
1
)Financial derivatives
2 )Closely-held
equity interests
Other
Total
Column b ) must equal Form 990,
Part
X , c o l B ) l i n e 12)
0
Related
Complete i f the
organization
answered
Y e s
t o Form 990, Part IV, l i n e 11c.
See
Form
990.
Part
X . l i n e 13 .
a ) Description
o f
investment b ) Book
value c )
Method o f
valuation
Cost or
end-of-year
market value
1 ) PATRONAGE CAPITAL-G T COOP SUPP LEND 52,283,666 C
2 ) PATRONAGE CAPITAL GRESCO
6,586,366
C
3 ) NRUCFC CAPITAL TERM
CERTIFICATES
3,269,534 C
4 )
PATRONAGE
CAPITAL
I N
ASSOCIATED ORGS 903,175 C
5 )
NRECA
DEFERRED OMP ASSETS 736,603
F
6 )
MEMBERSHIP
FEES
I N ASSOC ORG 2 , 1 00 C
Total
Column b ) must
equal
Form 990,
Part X ,
c o l B )
l i n e
13
63,781,444
Other Assets
Complete
i f
the organization answered
Yes t o
F or m 9 90 , P art I V ,
l i n e 11d
Se e Form
990,
Part X ,
l i n e
15
a) DescriDtion
b ) Book
value
Sc he du le D F or m 990) 2014
Page
4
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
16/26
Reconciliation
of
Revenue per Audited
Financial
Statements With Revenue p er R et ur n C om plet e i
the
or g anization
answered
Y e s t o Form
990
Part
IV
l i n e
12a.
1
Total
revenue, gains, and
other
support
per audited
f i n a n c i a l statements 1 372,417,950
2 Amounts included
on l i n e b ut n ot on
Form
990,
P art VIII,
l i n e 1 2
a
Ne t
u nrealize d gains l os ses
on investments 2a
b Donated services
a nd us e o f
f a c i l i t i e s 2b
c
Recoveries o f
p r i o r
year
grants 2c
d Other
Describe i n P ar t X II I 2d 8,010,138
e Add
l i n e s 2a
t hr ou gh 2 d 2e 8,010,138
3 Subtract l i n e 2e from l i n e 1 3 364,407,812
4
Amounts included
on
Form
990,
P art VIII,
l i n e
12 ,
b ut not on l i n e 1
a Investment expenses not included on F or m 9 90 , Part VIII,
l i n e 7b
4a
b Other Describe i n P ar t X II I
4b 742,281
c
Add
l i n e s
4a and
4b
4c 742,281
5 Total revenue
Add
l i n e s
3 and
4 c . This must equal F or m 9 90 ,
Part I l i n e 12
5 365,150,093
«
Reconciliation
of
Expenses per Audited
Financial
Statements With Expenses p er R et ur n
Complete
i
the
or g anization
answered
Y e s t o Form
990
Part
IV
l i n e
12a.
1
Total expenses
and
losses per audited f i n a n c i a l
statements 1
353,519,273
2 Amounts included
on l i n e
b ut not on
Form
990,
Part
IX , l i n e 2 5
a Donated
s erv ices a nd u se o f f a ci l i t i es
2a
b
Prior year
adjustments 2 b
c Other losses 2c
d
Other Describe i n
P art X II I
2d
e Add
l i n e s 2a
t hr ou gh 2 d 2e
3 Subtract l i n e 2e from l i n e 1 3 353,519,273
4 Amounts included on Form
990,
Part
IX , l i n e 25 , b ut n ot
on
l i n e 1 :
a Investment expenses not included on Form 990, Part
VIII,
l i n e
7b
4a
b
Other Describe i n P art X II I
4b 4,247,372
c
Add
l i n e s
4a and
4b
4c
4,247,372
5 Total expenses
Add
l i n e s 3
and
4 c . This must equal F or m 9 90 , Part
I l i n e 18
5 357,766,645
OT
4
u pp lemental In formation
Provide the
descriptions required
f o r Part I I
l i n e s
3 5 and 9 Part I I I
l i n e s la
and
4, Part
I V
l i n e s
lb and 2b ,
P art V ,
l i n e
4
Part
X
l i n e
2
Part
XI , l i n e s
2d
and 4b, and Part
XII,
l i n e s
2d
and
4b
Also
complete
t h i s
part
t o
provide any
additional
information
Return Reference Explanation
SCHEDULE D, PAGE 3 PART
X
THE COOPERATIVE
IS
A
NONPROFIT
ORGANIZATION EXEMPT FROM INCOME TAXES UNDER
THE
PROVISIONS
OF INTERNAL
REVENUE CODE SECTION
501 C 12
ACCORDINGLY,THERE
IS
NO PROVISION
FOR
INCOME TAXES
IN THE FINANCIAL
STATEMENTS
THE
COOPERATIVE
DOPTED CCOUNTING STANDARDS
CODIFICATION
ASC) 740, CCOUNTING FOR
UNCERTAINTY
IN
INCOME TAXES
THE IMPLEMENTATION OF THIS STANDARD HAD NO
IMPACT ON THE COOPERATIVE S FINANCIAL STATEMENTS
THE
COOPERATIVE DOES NOT
BELIEVE IT HAS
TAKEN
ANY
UNCERTAIN
TAX POSITIONS
THAT
WOULD
HAVE
A MATERIAL
EFFECT
ON
THE FINANCIAL
STATEMENTS
THE
COOPERATIVE S FORM 990 S
FOR THE PAST
THREE YEARS
ARE
OPEN TO EXAMINATION BY THE INTERNAL REVENUE
SERVICE
FOR
THE
YEARS ENDED DECEMBER 31 , 2014 AND 2013,THE COOPERATIVE FILED
FORM
990T FOR
UNRELATED
RENTAL INCOME ON
COMMUNIC TION
TOWERS
THE
MOUNT PAID OR
CCRUED W S
3,767 AND
2,089, RESPECTIVELY
SCHEDULE D, PAGE 4 PART XI ,
ASSIGNED
CAPITAL CREDITS
ACCRUED,
NOT PAID
8,010,138
LINE 2D
SCHEDULE D, PAGE 4 PART XI ,
CASH
RECEIVED
FROM
CAPITAL CREDITS PREVIOUSLY CCRUED 699,559 ANGEL FUND
LINE 4B
CONTRIBUTIONS
59,561
RENTAL EXPENSES NETTED ON STATEMENT
OF REVENUES -16,839
SCHEDULE D,
PAGE 4
PART
XII,
ANGEL
FUND EXPENSES 65,437 RETIREMENT
OF
CAPITAL CREDITS
4,198,774
RENTAL
LINE 4B EXPENSES NETTED ON STATEMENT OF REVENUES -16,839
S ch ed ul e D
Form
990
2013
ge 5
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
17/26
Schedule
D Form
990
2014
l
efile
GRAPHIC
p
rint
- DO NOT
PROCESS
As Filed Data - DLN:
93493225025045
Schedule I
OMB No
1545-0047
8/16/2019 2014 IRS Form 990 Sumter Electric Cooperative Return of Tax Exempt Organization
18/26
Form
990
)
Grants and Other
Assistance
t o
O r g a n i z a t i o n s ,
Governments a nd I n d i v i d u a l s i n t he U ni te d
States
2 0 1 4
Complete i f t h e or ga n i za t i on answered
Yes,
to Form 9 90, P ar t IV l i n e 21 or 22.
Department o f th e
Treasury
l i k
Attach to Form
990.
•
I n t e r n a l Revenue
Service Information about
Schedule
I
Form 990 and its i n st r u c t i on s is a t
www
irs.gov/form990
Name
o f the organization Employer identification
number
SUMTER ELE TRI OOPER TIVE INC
59-0469125
jlĵ l
G e n er a l I n f or ma t i on on G r a n t s and A s s i s t a n c e
1 Does
th e
organization maintain records t o substantiate
th e
amount o f
th e
grants or a s s i s t a n c e ,
th e
grantees' e l ig ib i li t y f o r
th e
grants or a s s is t a nc e , a n d
th e
selection c r i t e r i a
us ed
t o
award
th e grants or
a s s i s t a n c e ?
Yes
No
2
D e s c r i b e
i n Part IV
th e
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