2023-10-26T12:56:39-04:00 2022-12-31 590548468 PURVIS GRAY & COMPANY LLP 2347 SE 17TH STREET OCALA FL 34471 990 2022-01-01 590469125 SUMTER ELECTRIC COOPERATIVE INC SUMT 3527933801 P O BOX 301 SUMTERVILLE FL 335850301 CURTIS WYNN CEO 3527933801 2023-09-21 true CURTIS WYNN 999009999 true TIMOTHY M WESTGATE CPA P00631621 3527323872 2023-09-21 2022 2023-04-26 12:10:37Z CURTIS WYNN PO BOX 301 SUMTERVILLE FL 335850301 537420252 false X WWW.SECOENERGY.COM X 1938 FL AS A NOT-FOR-PROFIT COOPERATIVE, SECO ENERGY PROVIDES RELIABLE AND INNOVATIVE ENERGY SERVICES TO OUR MEMBERS AND COMMUNITIES. 9 9 480 33625 29263 8500898 59679 430554257 536877881 1020668 417942 35295 33976 440111118 537389478 61000 92500 6548484 5076369 5853469 6998339 0 0 414495095 514088899 426958048 526256107 13153070 11133371 962585573 1126136135 640333983 783012991 322251590 343123144 AS A NOT-FOR-PROFIT COOPERATIVE, SECO ENERGY PROVIDES RELIABLE AND INNOVATIVE ENERGY SERVICES TO OUR MEMBERS AND COMMUNITIES. false false SALE AND DISTRIBUTION OF ELECTRICITY TO 231,085 ACCOUNTS IN THE COOPERATIVE'S SERVICE AREA. false false false false false false false false false true false true false true true true false false false false false false false false false false true true true false false false false false true false false false false false false false false false 140 0 480 true true true false false false true true 532557146 1425708 false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X ANH REYNOLDS 3527933801 330 SOUTH HIGHWAY 301 SUMTERVILLE FL 33585 CURTIS WYNN CEO 60.00 X 696900 0 169803 JAMES P DUNCAN CEO - EXITIN 0.00 X 666184 0 4141 JOHN LASELVA VP OF OPERAT 60.00 X 502592 0 165205 EUGENE V KANIKOVSKY CFO 57.00 X 447859 0 142241 KATHRYN E GLORIA VP COR COMM 50.00 X 417618 0 131915 GREGGORY H MORRELL VP OF HR & C 60.00 X 433789 0 107224 MICHEAL WHITE VP OF ENGINE 52.00 X 425763 0 106667 BENJAMIN DAWSON VP GROWTH, S 50.00 X 280735 0 113240 LONNIE W PENNINGTON MGR TRANS & 50.00 X 250083 0 137388 CRAIG S BALIUS MGR OF SAFET 45.00 X 205215 0 147678 TRACY DE LEMOS DEPUTY GENER 50.00 X 268198 0 64869 SHAUN T LAMAR MGR OF INF T 50.00 X 207420 0 93716 MARIETTA HICKS MGR ENG SVCS 50.00 X 203836 0 83902 JERRY T BROWN MGR OF TECHN 45.00 X 213246 0 71836 JOSEPH KUSIAK TRUSTEE 12.00 X 33703 0 0 MICHAEL MUFFETT TRUSTEE 8.00 X 32203 0 0 GERALD ANDERSON TRUSTEE - PR 25.00 X X 28403 0 0 SHANNON WRIGHT TRUSTEE 8.00 X 28402 0 0 JOYCE ANDERSON TRUSTEE - SE 11.00 X X 26003 0 0 MORGAN HATFIELD TRUSTEE 7.00 X 23753 0 0 RICHARD DENNISON TRUSTEE 2.00 X 23653 0 0 SCOTT BOYATT TRUSTEE - VI 10.00 X X 23603 0 0 WILLIAM JAMES JR TRUSTEE 4.00 X 19353 0 0 5458514 1539825 176 false true false WRIGHT TREE SERVICE PO BOX 1718 DES MOINES IA 50306 VEGETATION MGMT 21500116 PIKE ELECTRIC INC PO BOX 1000 DEPT 517 MEMPHIS TN 38148 LINE CONSTRUCT. 12742300 IVY H SMITH COMPANY LLC PO BOX 860786 ORLANDO FL 32886 LINE CONSTRUCT. 11244166 ELITE CONSTRUCTION PO BOX 1418 OCALA FL 34478 SUBSTATION CON. 4298705 CONTRACT CALLERS INC 501 GREENE ST 3RD FLOOR SUITE 302 AUGUSTA GA 30901 METER READING 3122670 49 59679 59679 SALE OF ELECTRICITY 221000 528468741 528468741 SERVICE CHARGE INCOME 221000 4088054 4088054 POLE RENTAL 221000 3115167 3115167 CAPITAL CREDITS - OTHER 221000 1205919 1205919 536877881 248279 248279 51226 17601 33625 33625 33625 182836 13173 169663 169663 169663 351 351 351 537389478 532726458 33625 4569716 65500 27000 5076369 5384019 1614320 17430729 30716920 PURCHASED POWER 362879347 DISTR EXPENSE - MAINT 49345798 DISTR EXPENSE - OPERAT 17143916 CONSUMER ACCT/CUST SER 17001098 19571091 526256107 0 0 0 1936442 2311450 29390516 70825677 30158476 65544818 3202557 2706502 1103109300 238113341 787662004 864995959 110235578 119751729 962585573 1126136135 31399577 102156730 573846110 623817002 13484074 35088296 43555185 640333983 783012991 X 993100 1027705 6883297 7123362 314375193 334972077 322251590 343123144 962585573 1126136135 X 11133371 9738183 X false true X true false 18076243 18076243 29785352 13351496 16433856 4860942 4860942 70380951 49356195 21024756 980005812 175405650 804600162 864995959 PATRONAGE CAPITAL-G&T COOP&SUPP LEND 116395693 C NRUCFC CAPITAL TERM CERTIFICATES 2341043 C NRECA DEFERRED COMP ASSETS 1012893 F MEMBERSHIP FEES IN ASSOC. ORG 2100 C 119751729 CONSUMER DEPOSITS 21070497 DEFERRED CREDITS 20684349 CAPITAL LEASE - CURRENT 1800339 43555185 X 546176430 10034948 10034948 536141482 1247996 1247996 537389478 521131836 521131836 5124271 5124271 526256107 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 ADOPTED ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING 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. THE COOPERATIVE HAS FILED FORM 990T FOR UNRELATED RENTAL INCOME ON COMMUNICATION TOWERS FOR THE YEAR ENDED DECEMBER 31, 2021, AND WILL FILE THE FORM FOR THE YEAR ENDED DECEMBER 31, 2022. THE AMOUNT PAID OR ACCRUED WAS 6,461 AND 6,465, RESPECTIVELY. SCHEDULE D, PAGE 4, PART XI, LINE 2D ASSIGNED CAPITAL CREDITS ACCRUED, NOT PAID 10,034,948 SCHEDULE D, PAGE 4, PART XI, LINE 4B CASH RECEIVED FROM CAPITAL CREDITS PREVIOUSLY ACCRUED 1,205,919 RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -17,600 ANGEL FUND CONTRIBUTIONS 59,679 ROUNDING -2 SCHEDULE D, PAGE 4, PART XII, LINE 4B ANGEL FUND EXPENSES 96,331 RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -17,600 RETIREMENT OF CAPITAL CREDITS 5,045,538 ROUNDING 2 false UNITED WAY OF LAKE & SUMTER COUNTY 32644 BLOSSOM LANE LEESBURG FL 34788 591143758 501C3 31000 SEE SCH. I, PART IV UNITED WAY OF MARION COUNTY 1401 NE 2ND STREET OCALA FL 34470 590946642 501C3 21500 SEE SCH. I, PART IV UNITED WAY OF CITRUS COUNTY 1582 N MEADOWCREST BLVD CRYSTAL RIVER FL 34429 592766815 501C3 13000 SEE SCH. I. PART IV 3 SEE SCHEDULE I, PART IV 9 27000 SCHEDULE I, PAGE 4, PART IV SCHEDULE I, PART II - OTHER ASSISTANCE TO ORGANIZATIONS SUMTER ELECTRIC COOPERATIVE PROVIDES FINANCIAL ASSISTANCE TO WORTHY CAUSES IN THE ORGANIZATION'S SERVICE AREA. SCHEDULE I, PART III - OTHER ASSISTANCE TO INDIVIDUALS 9 EDUCATIONAL SCHOLARSHIPS WERE AWARDED TO HIGH SCHOOL SENIORS. THE RECIPIENT MAY USE THE SCHOLARSHIP TO PURSUE ANY MAJOR OR CERTIFICATION RELATED TO THE ENERGY INDUSTRY AT A HIGHER EDUCATIONAL INSTITUTION IN FLORIDA. X X X X X X false false false CURTIS WYNN CEO 595522 101378 146724 23115 866703 JAMES P DUNCAN CEO - EXITING 34121 140750 491313 3156 985 670325 JOHN LASELVA VP OF OPERATIONS 402480 67030 33082 136038 29203 667797 EUGENE V KANIKOVSKY CFO 357928 54232 35699 107823 34454 590100 KATHRYN E GLORIA VP COR COMM & ENG SV 339751 47726 30141 117093 14858 549533 GREGGORY H MORRELL VP OF HR & COR 342911 54447 36431 91007 16253 541013 MICHEAL WHITE VP OF ENGINEERING 352630 52438 20695 74021 32682 532430 BENJAMIN DAWSON VP GROWTH, SMART GRI 237538 30334 12863 82430 30846 393975 LONNIE W PENNINGTON MGR TRANS & DISTR OP 208522 31963 9598 109037 28352 387471 CRAIG S BALIUS MGR OF SAFETY & RISK 169772 25147 10296 127542 20137 352893 TRACY DE LEMOS DEPUTY GENERAL COUNC 254944 1200 12054 35261 29644 333067 SHAUN T LAMAR MGR OF INF TECH 178316 27168 1936 69475 24242 301136 MARIETTA HICKS MGR ENG SVCS 175307 22554 5975 63205 20698 287738 JERRY T BROWN MGR OF TECHNICAL SVC 175904 25906 11436 57049 14788 285082 SEMINOLE ELECTRIC COOPERATIVE INC SEE PART V 362879347 PURCHASE POWER false SCHEDULE L, PART V CURTIS WYNN, CEO, WILLIAM JAMES, TRUSTEE, AND RICHARD DENNISON, TRUSTEE, SERVE ON SEMINOLE ELECTRIC COOPERATIVE, INC'S BOARD OF TRUSTEES. FORM 990 FORM 990, PART IX, LINE 4 - BENEFITS PAID TO OR FOR MEMBERS THE IRS' INSTRUCTIONS FOR THE 2022 VERSION OF THE FORM 990, PART IX, LINE 4 STATE: "ENTER THE PAYMENTS MADE BY THE ORGANIZATION TO PROVIDE BENEFITS TO MEMBERS (...PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS). STATEMENT OF FUNCTIONAL EXPENSES, LINE 4 IS ENTITLED "BENEFITS PAID TO OR FOR MEMBERS." FOR PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT REPORTED IN THE AUDITED STATEMENT OF REVENUE AND CHANGES IN PATRONAGE CAPITAL FOR THE YEAR ENDED DECEMBER 31, 2022 AND OTHER BENEFITS PAID TO MEMBER IN THE AMOUNT OF 5,045,538 AND 30,831 OF UTILITY ASSISTANCE PROVIDED TO VARIOUS MEMBERS. FORM 990, PART IX, LINE 24 (E) - TAX EXPENSE DISCLOSURE THE SOFTWARE USED TO PREPARE THE FORM 990 IS NOT CURRENTLY DESIGNED TO REPORT INCOME TAX EXPENSE FROM UNRELATED BUSINESS INCOME SEPARATELY ON LINE 24 AS REQUIRED BY THE INSTRUCTIONS FOR FORM 990. INCOME TAX EXPENSE FOR UNRELATED BUSINESS INCOME IS THEREFORE INCLUDED IN LINE 24(E). THE AMOUNT OF FEDERAL AND STATE INCOME TAX EXPENSE INCLUDED IN LINE 24(E) FROM UNRELATED BUSINESS INCOME IS 6,461. FORM 990, PAGE 6, PART VI, LINE 6 THE SUMTER ELECTRIC COOPERATIVE HAS MEMBERS COMPRISED OF ANY PERSON, FIRM, ASSOCIATION, CORPORATION OR SUBDIVISION WHO AGREES TO (1) PURCHASE UTILITY SERVICES FROM THE COOPERATIVE, (2) COMPLY WITH THE ARTICLES OF INCORPORATION AND BY-LAWS, AND (3) PAY THE MEMBERSHIP FEE. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS VOTE FOR A TRUSTEE TO REPRESENT THEIR DISTRICT. FORM 990, PAGE 6, PART VI, LINE 7B THE BOARD OF TRUSTEES IS REQUIRED TO RECEIVE MEMBER APPROVAL ON ALL BY-LAW AND ARTICLE OF INCORPORATION CHANGES. MEMBER APPROVAL IS OBTAINED THROUGH A VOTE AT THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 11B THE CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, AND CONTROLLER HAVE REVIEWED AND APPROVED THE 990. THE BOARD OF TRUSTEES RECEIVED AN ELECTRONIC COPY OF THE FINAL 990 PRIOR TO FILING. TRUSTEES WERE ASKED FOR COMMENTS PRIOR TO SUBMISSION. FORM 990, PAGE 6, PART VI, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL COOPERATIVE PERSONNEL, INCLUDING TRUSTEES AND EMPLOYEES. ANY CONFLICTS ARE REQUIRED TO BE REPORTED TO THE COMPLIANCE OFFICER OR THE BOARD OF TRUSTEES. WILLFUL VIOLATION OF THE POLICY MAY REQUIRE DRASTIC ACTION, INCLUDING DISMISSAL FROM THE BOARD OR TERMINATION OF EMPLOYMENT. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD OF TRUSTEES REVIEW, EVALUATE AND APPROVE ANNUALLY THE CEO'S COMPENSATION. A VARIETY OF SOURCES ARE UTILIZED TO DETERMINE SALARY: FORM 990 FROM OTHER ORGANIZATIONS AND REPUTABLE MARKET COMPENSATION SURVEYS. FORM 990, PAGE 6, PART VI, LINE 15B THE CEO REVIEWS AND APPROVES ON AN ANNUAL BASIS SALARIES FOR ALL EMPLOYEES INCLUDING EXECUTIVES. VARIOUS REPUTABLE MARKET COMPENSATION SURVEYS, FORM 990 FROM OTHER COOPERATIVES ARE UTILIZED TO DETERMINE SALARIES. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC FORM 990, PART XI, LINE 9 INCREASE IN MEMBERSHIP 34,605 ASSIGNED CAPITAL CREDITS, NOT PAID 10,034,948 CHANGE IN OTHER EQUITIES 859,687 ANGEL FUND NET INCOME 36,651 UNCLAIMED PATRONAGE CAPITAL 597,828 ROUNDING 5 CAPITAL CREDITS, CASH RECEIVED -1,205,919 CHANGE IN AOCI -619,622 TOTAL 9,738,183