2023-10-31T11:16:07-04:00 2022-12-31 710818324 THOMAS SPEIGHT & NOBLE CPA'S PO BOX 17167 JONESBORO AR 724036721 990 2022-01-01 710195390 WOODRUFF ELECTRIC COOPERATIVE CORP WOOD 8706332262 PO BOX 1619 FORREST CITY AR 72335 MICHAEL L SWAN PRESIDENT/CEO 8706332262 2023-10-07 true MICHAEL SWANN XXX-XX-XXXX true JEFF L WICKER CPA P00338877 8709325858 2023-10-11 2022 2023-04-26 12:10:37Z MICHAEL L SWAN PO BOX 1619 FORREST CITY AR 723361619 59110108 false X WWW.WOODRUFFELECTRIC.COM X 1937 AR TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. 9 9 81 0 0 53539163 58493061 423217 489124 22892 51321 53985272 59033506 0 4862653 4528117 5744421 6229190 0 0 43378198 48276199 53985272 59033506 0 207108353 206489107 117700778 114670577 89407575 91818530 TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT. false false 59033506 PROVIDE ELECTRICITY - RURAL AREAS, 24,329 TOTAL SERVICES IN PLACE AT YEAR END. 59033506 false false false false false false false false false true true false false true false true false false false false false false false false false false false false true false false false false false false false false false false true false false false true 24 0 81 true false false false false false 56660620 2207782 false false false X 9 9 false false false false true true true true true false false true true true true true true false false false X WOODRUFF ELECTRIC COOPERATIVE CORP 8706332262 3201 HIGHWAY 1 NORTH FORREST CITY AR 72335 MICHAEL L SWAN PRESIDENT/CE X 233000 0 115370 RONALD L COCKMON VP-OFFICE SE X 157481 0 89554 JIMMY R COOK VP-ENGINEERI X 146478 0 75398 GLENN M KELLEY VP-INFORMATI X 133293 0 78323 RODNEY KELSO VP - OPERATI X 129583 0 76687 EDWARD MILTON DISTRICT MAN X 102202 0 64387 KEVIN SCOTT VP - CORPORA X 100370 0 63279 NORMA HAWKINS VP OF HUMAN X 104224 0 55760 BARRY DUNCAN DISTRICT MAN X 80912 0 54840 AB THOMPSON JR DIRECTOR 26.00 X 31530 0 0 JERRY BROWN DIRECTOR 28.00 X 30590 0 0 CHARLES C BURROW III DIRECTOR 28.00 X 27677 0 0 JOE WHITTENTON III DIRECTOR 19.00 X 22778 0 0 W WAYNE BEADLES DIRECTOR 15.00 X 22630 0 0 JIMMY N BICKERSTAFF DIRECTOR 16.00 X 21830 0 0 SHELIA BANKS DIRECTOR 22.00 X 15073 0 0 JACK CAPERTON III DIRECTOR X 13652 0 0 BRENT PONDER DIRECTOR 20.00 X 11700 0 0 BILL RUSHING DIRECTOR 15.00 X 4800 0 0 1389803 673598 8 true true false STUART C IRBY CO PO BOX 843959 DALLAS TX 75284 FIBER PROJECT 5999556 D & H CONTRACTING INC 160 LAWRENCE 223 ROAD BLACK ROCK AR 72415 FIBER CONSTR. 2135344 WEST TREE SERVICE INC 6300 FORBING RD LITTLE ROCK AR 72209 ROW MAINTENANCE 1231879 MS TN TRANSFORMERS INC PO BOX 1764 GREENWOOD MS 38935 TRANSFORMER REP 286528 AECI ROW DEPARTMENT PO BOX 190257 LITTLE ROCK AR 72219 ROW MAINTENANCE 228195 5 OPERATING REVENUES 56774403 56774403 G&T AND OTHER CAPITAL CREDITS 1718658 1718658 58493061 493024 493024 3900 -3900 -3900 -3900 124023 72702 51321 51321 59033506 59033506 X 4528117 4528117 707114 707114 13652 13652 5508424 5508424 38908001 38908001 3572098 3572098 5796100 5796100 59033506 59033506 0 0 1156151 970379 24917366 8586879 3397764 3697760 1261544 1784188 2240168 1909282 215097894 46213834 156314564 168884060 17654666 20387547 166130 269012 207108353 206489107 2040174 3285929 110466905 105959091 5193699 5425557 117700778 114670577 X 206970 206220 81023864 83600471 8176741 8011839 89407575 91818530 207108353 206489107 X 0 2410955 X false true X true false 1361227 1361227 15747498 2843227 12904271 13477608 10908952 2568656 184511561 32461655 152049906 168884060 INVESTMENTS IN ASSOC ORGANIZATIONS 15139035 C INVESTMENT IN ENLIGHTENED BY WECC 3049034 C INVESTMENTS IN CAP TERM CREDITS-CFC 1413649 C OTHER INVESTMENTS IN ASSOC ORGS 498529 C RENEW - REPLACE FUND-INV MONEY MKT 201722 C OTHER SPECIAL FUNDS - DEFERRED COMP 85328 C OTHER INVESTMENTS 250 C 20387547 CONSUMER DEPOSITS 1724984 PATRONAGE CAPITAL PAYABLE 1685017 ACCRUED PROPERTY TAX 1343437 EMPLOYEES VACATION 219198 ACCRUED STATE SALES TAX 188861 ACCRUED INTEREST PAYABLE 96456 ACCUMULATED OTHER PROVISIONS 85328 OTHER 82276 5425557 59033506 59033506 59033506 54505389 54505389 4528117 4528117 59033506 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE ALLOCATIONS - DIFF IN TAX VS GAAP 4,528,117 X false false false MICHAEL L SWAN PRESIDENT/CEO 233000 103830 11540 348370 RONALD L COCKMON VP-OFFICE SERVICES 157481 70087 19467 247035 JIMMY R COOK VP-ENGINEERING SVCS 146478 65092 10306 221876 GLENN M KELLEY VP-INFORMATION SERVI 133293 59255 19068 211616 RODNEY KELSO VP - OPERATIONS 129583 57639 19048 206270 EDWARD MILTON DISTRICT MANAGER 102202 45783 18604 166589 KEVIN SCOTT VP - CORPORATE SERV 100370 44691 18588 163649 NORMA HAWKINS VP OF HUMAN RESOURCE 104224 46437 9323 159984 JACK CAPERTON III DIRECTOR 13652 13652 FORM 990 FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO MEMBERS (HEREINAFTER REFERRED TO AS "PATRONAGE DIVIDENDS PAID") REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE COOPERATIVE ALLOCATES PARTRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'S TAX EXEMPT PURPOSES 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 CALENDAR TAX 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 COOEPRATIVE'S BY-LAWS. 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 CURRENT 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, PAGE 6, PART VI, LINE 6 MEMBERS FORM 990, PAGE 6, PART VI, LINE 7A THE MEMBERS ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 7B THE MEMBERS APPROVE SIGNIFICANT DECISIONS OF THE DOCUMENTS OR BYLAWS REGARDING COMPENSATION OF OFFICERS AND GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B INTERNAL REVIEW BY ACCOUNTING STAFF, PRESIDENT/CEO, AND GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 12C OUR POLICY REQUIRES DIRECTORS AND EMPLOYEES TO REPORT ANY POTENTIAL CONFLICT OF INTEREST. ANY OBSERVED AND NOT REPORTED CONFLICT OF INTEREST BY OTHER STAFF OR DIRECTORS WILL BE ADDRESSED FOR COMPLIANCE. FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE TO THE PUBLIC AT THEIR REQUEST. FORM 990, PART IX, LINE 11G COST OF POWER 32,360,801 0 0 TRANSMISSION-MAINTENANCE 22,954 0 0 DISTRIBUTION-OPERATION 5,074,244 0 0 DISTRIBUTION-MAINTENANCE 3,091,449 0 0 CUSTOMER ACCOUNTS EXPENSE 1,274,252 0 0 CUSTOMER SERVICES & INFO 380,509 0 0 ADMIN & GENERAL EXPENSE 2,936,857 0 0 TAXES 1,239 0 0 OTHER DEDUCTIONS -5,114 0 0 EMPLOYEE COMP REPORTED ABOVE -6,229,190 0 0 TOTAL 38,908,001 0 0 FORM 990, PART XI RETIREMENT OF CAPITAL CREDITS, CHANGE IN MEMBERSHIPS, AND OTHER MISC. FORM 990, PART XI, LINE 9 TEMP DIFF BETWEEN ALLOCATED AND RETIRED CAP CREDIT 2,411,705 CHANGE IN MEMBERSHIPS -750 TOTAL 2,410,955 ENLIGHTENED BY WOODRUFF ELECTRIC LL PO BOX 1619 FORREST CITY AR 72336 861723350 BROADBAND AR N/A