2025-05-12T14:38:59-05:00 2024-12-31 590548468 PURVIS GRAY & COMPANY LLP 222 NE 1ST ST GAINESVILLE FL 32601 990 2024-01-01 590545223 WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE INC WITH 3525675133 PO BOX 278 DADE CITY FL 33526 DAVID B LAMBERT II GENERAL MANAGER 3525675133 2025-05-12 1 1 LISA M MAROUSKY CPA P01965450 3523782461 2025-05-08 2024 2025-03-06 01:10:19Z DAVID B LAMBERT II PO BOX 278 DADE CITY FL 33526 601494456 0 X WWW.WREC.NET X 1941 FL THE GOAL OF THE COOPERATIVE IS TO PROVIDE EACH OF ITS MEMBERS THE BEST POSSIBLE SERVICE AT THE LOWEST COST. 9 8 629 0 900378 780358 0 0 559252934 586943577 14463109 13400028 1096795 900954 574812838 601244559 61330 181469 23198025 23202460 3640977 3700108 0 0 0 509423508 548901988 536323840 575986025 38488998 25258534 1340349704 1501239477 662327562 793975749 678022142 707263728 THE GOAL OF THE COOPERATIVE IS TO PROVIDE EACH OF ITS MEMBERS THE BEST POSSIBLE SERVICE AT THE LOWEST COST. 0 0 575988796 181469 586943577 SALE OF ELECTRICITY TO MEMBERS-RURAL ELECTRIC COOPERATIVE 575988796 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 0 1 1 1 0 1 112 0 629 1 1 1 0 0 0 0 0 0 567276506 15332769 0 0 0 X 9 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 FL X HERIBERTO HERNANDEZ 3525675133 14651 21ST STREET DADE CITY FL 33523 PATRICIA P BECHTELHEIMER TRUSTEE 10.00 1.00 X 35235 0 0 ALAN HENGESBACH SEC'Y/TREASURER 15.00 1.00 X X 53541 0 0 DAVID HUNNICUTT TRUSTEE 15.00 1.00 X 22600 0 0 KIMBERLY KINNEY TRUSTEE 10.00 1.00 X 32759 0 0 DESMOND G LITTLE TRUSTEE 10.00 1.00 X 40608 0 0 PAUL LITTLE TRUSTEE 10.00 1.00 X 41178 0 0 TERRENCE SCHRADER PRESIDENT 15.00 1.00 X X 52191 0 0 ROBERT BARTHLE TRUSTEE 10.00 1.00 X 40941 0 0 ROBERT W STRICKLAND VICE PRESIDENT 15.00 1.00 X X 28751 0 0 DAVID B LAMBERT II GENERAL MANAGER 70.00 1.00 X 662267 0 224450 RONNIE DEESE MANAGER 50.00 X 382154 0 109414 JOSEPH MARINA DISTRICT MANAGER 55.00 1.00 X 320479 0 37538 MARLIN SEXTON JR DISTRICT MANAGER 55.00 X 278241 0 113623 KRISTINA S WALZAK MGR HR & JOB TRAINING & SAFETY 55.00 X 277236 0 180632 DAVID GONZALEZ DISTRICT MANAGER 55.00 X 296665 0 41521 GARY F STEELE JR MANAGER-MEMBER RELAT 60.00 1.00 X 306875 0 121209 2871721 0 828387 240 0 1 0 PIKE ELECTRIC LLC PO BOX 746308 ATLANTA GA 30374 CONSTRUCTION 16389895 THE DAVEY TREE EXPERT PO BOX 94532 CLEVELAND OH 44101 ROW CUTTING 14843826 LINTEC SERVICES LLC PO BOX 13650 ALEXANDRIA LA 71315 CONSTRUCTION 4094831 J D FACTORS PO BOX 687 WHEATON IL 60187 CONSTRUCTION 3037210 PREMIUM UTILITY 2350 HIGHWAY 31 NW HARTSELLE AL 35640 CONSTRUCTION 1704970 35 ELECTRICITY SALES 221000 570784619 570784619 G&T CAPITAL CREDITS 221000 5795759 5795759 QUALIFIED POLE RENTAL 221000 5477687 5477687 OTHER CAPITAL CREDITS 221000 3437620 3437620 HOME GENERATOR 221000 1447892 1447892 586943577 13322913 13322913 1028498 167304 861194 861194 861194 159708 82593 77115 77115 77115 ORANGE SALES 453000 39184 39184 REVENUE FROM MERCHANDISING 453000 576 576 39760 601244559 581465890 900378 18878291 X 181469 23202460 1726089 1974019 18326863 36154980 COST OF POWER 373221668 DISTRIBUTION EXPENSE 74460187 GENERAL & ADMINISTRATIV 20813830 CONSUMER ACCOUNTS 15861888 10062572 575986025 58591 135023 245369259 209186578 44210953 90554108 2000766 2124016 84453573 141378452 6685250 4994434 1269751604 407988033 780810739 861763571 50447 11500 23280702 27222538 145717673 154271584 7711751 9597673 1340349704 1501239477 55265892 90379339 562949236 638697936 44112434 64898474 662327562 793975749 X 1088360 1129580 0 0 676933782 706134148 678022142 707263728 1340349704 1501239477 X 25258534 3983052 X X 0 1 X 1 0 503369 503369 57637 57637 0 880413 555860 324553 1268310185 407374536 860935649 861763571 SEMINOLE ELECTRIC COOP INVESTMENT 137198710 C COBANK INVESTMENT 4189212 C CTC - CFC INVESTMENT 3479367 C GRESCO INVESTMENT 5410931 C FEDERATED INSURANCE INVESTMENT 2204744 C NRU CFC INVESTMENT 1476880 C NISC INVESTMENT 280213 C NATIONAL RURAL TELECOM COOPERATIVE 18710 C OTHER ASSOCIATED ORGANZIATIONS 12817 C 154271584 CUSTOMER DEPOSITS 35722555 DEFERRED CREDITS 28985417 PENSION & BENEFITS PROVISION 190502 64898474 X 603772039 2360176 2360176 601411863 -167304 -167304 601244559 551369213 -1581659 -1581659 552950872 23035153 23035153 575986025 PART X, LINE 2: THE COOPERATIVE IS INCLUDED IN CONSOLIDATED AUDITED FINANCIAL STATEMENTS. THE FOLLOWING IS A SUMMARY OF THE FOOTNOTE RELATED TO REQUIRED DISCLOSURES UNDER ACCOUNTING STANDARDS CODIFICATION (ASC) SECTION 740, INCOME TAX UNCERTAINTIES (FORMERLY FIN 48): UNDER ACCOUNTING STANDARDS CODIFICATION (ASC) SECTION 740, INCOME TAXES, IT IS THE POLICY OF MANAGEMENT TO EVALUATE ITS TAX POSITIONS ON AN ONGOING BASIS AND TO DISCLOSE ANY SUCH POSITIONS IT BELIEVES WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS AND RELATED NOTES. MANAGEMENT ALSO BELIEVES THAT NO SUCH REQUIRED DISCLOSURES CURRENTLY EXIST. THE COMPANIES ARE GENERALLY NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2021. INTEREST OR PENALTIES ON UNRECOGNIZED TAX BENEFITS, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: EARNINGS OF SUBSIDIARY 3,941,835. RESALE MERCHANDISE 15,108. NONUTILITY REG PAY EXPENSE -4,434. TOWER EXPENSES -50,779. LIGHT/ARESTORS REGULAR PAY -459. HOME GENERATOR PROGRAM -1,541,095. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -167,304. PART XII, LINE 2D - OTHER ADJUSTMENTS: RESALE MERCHANDISE 15,108. NONUTILITY REG PAY EXPENSE -4,434. TOWER EXPENSES -50,779. LIGHT/ARESTORS REGULAR PAY -459. HOME GENERATOR PROGRAM -1,541,095. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED ON STATEMENT OF REVENUES -167,304. RETIREMENT OF CAPITAL CREDITS 23,202,460. ROUNDING -3. 0 LAKE-SUMTER STATE COLLEGE FOUNDATION INC 9501 US HWY 441 LEESBURG FL 34788 591990323 501C3 10000 0 CASH GENERAL SUPPORT FEEDING PASCO'S ELDERLY INC 30435 COMMERCE DRIVE APT 103 SAN ANTONIO FL 33576 464262655 501C3 10000 0 CASH GENERAL SUPPORT CITRUS COUNTY SHERIFF'S FOUNDATION INC 1 DR MARTIN LUTHER KING JR AVE INVERNESS FL 34450 650605059 501C3 10000 0 CASH GENERAL SUPPORT VINCENT ACADEMY ADVENTURE COAST INC PO BOX 278 DADE CITY FL 335260278 815253878 501C3 10000 0 CASH GENERAL SUPPORT WEST PASCO SERTOMA CLUB INC PO BOX 1302 NEW PORT RICHEY FL 34656 510252228 501C3 10000 0 CASH GENERAL SUPPORT GREATER TAMPA BAY AREA COUNCIL INC BOY SCOUTS OF AMERICA 13228 N CENTRAL AVE TAMPA FL 33612 590637815 501C3 10563 0 CASH GENERAL SUPPORT PASCO-HERNANDO STATE COLLEGE 10230 RIDGE ROAD NEW PORT RICHEY FL 346545199 591731676 501C3 10000 0 CASH GENERAL SUPPORT PASCO COUNTY ECONOMIC DEVELOPMENT COUNCIL 16506 POINTE VILLAGE DRIVE 101 LUTZ FL 33548 592031062 501C3 25000 0 CASH GENERAL SUPPORT WOODY WILLIAMS FOUNDATION INC 12123 SHELBYVILLE RD STE 100 LOUISVILLE KY 40243 061840409 501C3 12500 0 CASH GENERAL SUPPORT PASCO COUNTY SHERIFF'S DEPARTMENT 8700 CITIZENS DRIVE NEW PORT RICHEY FL 34654 596000793 GOVT 0 6699 NET BOOK VALUE VEHICLE GENERAL SUPPORT 10 0 PART I, LINE 2: THE GRANTS ARE USED FOR THE GENERAL MISSION OF THE ORGANZIATIONS. X X 0 1 0 DAVID B LAMBERT II GENERAL MANAGER 607773 0 50000 0 4494 0 187442 0 37008 0 886717 0 0 0 RONNIE DEESE MANAGER 346545 0 30000 0 5609 0 80233 0 29181 0 491568 0 0 0 KRISTINA S WALZAK MGR HR & JOB TRAINING & SAFETY 236954 0 30000 0 10282 0 165309 0 15323 0 457868 0 0 0 GARY F STEELE JR MANAGER-MEMBER RELAT 275195 0 30000 0 1680 0 84345 0 36864 0 428084 0 0 0 MARLIN SEXTON JR DISTRICT MANAGER 232494 0 30000 0 15747 0 87453 0 26170 0 391864 0 0 0 JOSEPH MARINA DISTRICT MANAGER 308664 0 10000 0 1815 0 0 0 37538 0 358017 0 0 0 DAVID GONZALEZ DISTRICT MANAGER 284907 0 10000 0 1758 0 0 0 41521 0 338186 0 0 0 SCHEDULE J, PART I, LINE 4B RONNIE DEESE IS A PARTICIPANT IN A NONQUALIFIED SUPPLEMENTAL DEFERRED COMPENSATION PLAN. THERE WERE NO CONTRIBUTIONS TO THE PLAN DURING 2024. LAKE JOVITA FARM & GROVE SERVICES SEE SCH L, PART V 18000 GROVE MAINTENANCE 0 SEMINOLE ELECTRIC COOPERATIVE INC SEE SCH L, PART V 373221667 PURCHASED POWER 0 SCH L, PART IV, LINE 1, COLUMNS B AND C COLUMN (B) - RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: LAKE JOVITA FARM & GROVE SERVICES, INC. IS OWNED BY MEMBERS OF TERRENCE SCHRADER'S FAMILY.THE AMOUNT LISTED IN COLUMN (C) AS THE 'AMOUNT OF TRANSACTION' REPRESENTS THE AGGREGATE AMOUNT OF ALL TRANSACTIONS DURING THE YEAR FOR THE SERVICES PROVIDED AND IS NOT INTENDED TO REPRESENT A SINGLE TRANSACTION BETWEEN THE PARTIES. SCH L, PART IV, LINE 2, COLUMNS B AND C COLUMN (B) - RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION:DAVID B LAMBERT, II AND DIRECTORS ROBERT STRICKLAND AND TERRANCESCHRADER SERVE ON THE BOARD OF TRUSTEES OF SEMINOLE ELECTRIC COOPERATIVE, INC.COLUMN (C) - AMOUNT OF TRANSACTIONTHE AMOUNT LISTED IN COLUMN (C) AS THE 'AMOUNT OF TRANSACTION'REPRESENTS THE AGGREGATE AMOUNT OF ALL TRANSACTIONS DURING THE YEAR FOR THE SERVICES PROVIDED AND IS NOT INTENDED TO REPRESENT A SINGLE TRANSACTION BETWEEN THE PARTIES. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF FLORIDA AND OPERATES AS AN ELECTRIC DISTRIBUTION COOPERATIVE. IT IS THEREFORE A MEMBERSHIP ORGANIZATION AND ALL MEMBERS HAVE IDENTICAL RIGHTS UNDER THE COOPERATIVE'S ORGANIZATIONAL DOCUMENTS AND THE STATUTES OF THE STATE OF FLORIDA. FORM 990, PART VI, SECTION A, LINE 7A UNDER THE COOPERATIVE'S ORGANIZING DOCUMENTS AND THE LAWS OF THE STATE OF FLORIDA, THERE IS ONLY ONE CLASS OF MEMBERSHIP. ANY PERSON OR BUSINESS WITHIN THE GEOGRAPHIC SERVICE AREA OF THE COOPERATIVE IS ELIGIBLE TO BECOME A MEMBER UPON APPLICATION AND PAYMENT OF THE MEMBERSHIP FEE. THE MEMBERS VOTE IN ELECTIONS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE GENERAL MANAGER, ACCOUNTING AND FINANCE MANAGER, CONTROLLER AND ACCOUNTING ALL REVIEW THE 990. ADDITIONALLY, FORM 990 WILL BE EMAILED TO EACH BOARD MEMBER PRIOR TO SUBMITTAL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION OBTAINS A CONFLICT OF INTEREST STATEMENT FROM EACH EMPLOYEE AND MEMBER OF THE BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PART VI, LINE 15A - COMPENSATION FOR TOP OFFICIALS A COMPENSATION STUDY WAS CONDUCTED BY AN OUTSIDE CONSULTANT FOR THE YEAR ENDED DECEMBER 31, 2008. THE ORGANIZATION USED THE RESULTS OF THAT STUDY AS WELL AS OTHER FACTORS TO DETERMINE COMPENSATION FOR 2024. MINUTES OF MEETINGS OF THE BOARD OF TRUSTEES WILL SHOW APPROVAL OF THE SALARY FOR THE EXECUTIVE VICE PRESIDENT. FORM 990, PART VI, LINE 15B - COMPENSATION FOR OFFICERS A COMPENSATION STUDY WAS CONDUCTED BY AN OUTSIDE CONSULTANT FOR THE YEAR ENDED DECEMBER 31, 2008. THE ORGANIZATION USED THE RESULTS OF THAT STUDY AS WELL AS OTHER FACTORS TO DETERMINE COMPENSATION FOR 2024. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE INCLUDED IN THE ORGANIZATION'S ANNUAL REPORT WHICH IS SENT OUT TO THE MEMBERSHIP OF THE ORGANIZATION. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT CURRENTLY MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 4 THE IRS' INSTRUCTIONS FOR THE 2024 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." SIGNIFICANT INDUSTRY-WIDE DISCUSSIONS BEGAN REGARDING THE NEED FOR THE IRS' CLARIFICATION AND WHETHER "PATRONAGE DIVIDENDS PAID" MEANS CAPITAL CREDITS ALLOCATED, CAPITAL CREDITS RETIRED OR SOME OTHER AMOUNT. WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE, INC. [WREC] PRIDES ITSELF WITH A PROMPT FILING OF ITS ANNUAL FORM 990. IT INTENDS TO CONTINUE THAT TRADITION AND NOT WAIT UPON ADDITIONAL GUIDANCE THAT MAY COME FROM THE INTERNAL REVENUE SERVICE OR OTHER SOURCES. FOR PURPOSES OF THIS FORM 990, THE AMOUNT REPORTED ON LINE 4 REPRESENTS THE AMOUNT REPORTED IN THE AUDITED STATEMENT OF REVENUE, EXPENSES AND CHANGES IN PATRONAGE CAPITAL FOR THE YEAR ENDED DECEMBER 31, 2024. FORM 990, PART IX, LINE 24 FORM 990, PART IX, LINE 24 UNRELATED BUSINESS TAXES PAID IN 2024 FEDERAL TAXES (990T) PAID IN 2024 - $191,200. STATE TAXES (F-1120) PAID IN 2024 - $ 50,999. FORM 990, PART XI, LINE 9: INCREASE IN MEMBERSHIPS 41,220. EARNINGS OF SUBSIDIARY 3,941,835. ROUNDING -3. FORM 990, PART XII, LINE 2C THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE AUDITED FINANCIAL STATEMENTS. WREC EDUCATIONAL FOUNDATION INC PO BOX 278 PO BOX 278 DADE CITY FL 33526 593407203 SCH R, VII FL 501(C)(3) LINE 7 N/A 1 WITHLACOOCHEE RIVER ELECTRIC CARES PO BOX 278 PO BOX 278 DADE CITY FL 32526 593141822 SCH R, VII FL 501(C)(3) LINE 7 N/A 1 LAKE JOVITA ASSOCIATES INC PO BOX 278 PO BOX 278 DADE CITY FL 33526 593514097 SCH R, VII FL SCH R VII C 416236 1408220 1.00000 0 URADCO INC PO BOX 278 PO BOX 278 DADE CITY FL 33526 592594767 SCH R, VII FL SCH R VII C 3133698 27419974 1.00000 0 ONE LACOOCHEE CENTER 14651 21ST STREET 14651 21ST STREET DADE CITY FL 33523 843761078 SCH R VII FL SCH R VII C 2187739 893057 1.00000 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 0 URADCO INC O 84184 COST URADCO INC E 21297 COST WREC EDUCATIONAL FOUNDATION INC B 1914479 COST WREC EDUCATIONAL FOUNDATION INC O 19273 COST WREC EDUCATIONAL FOUNDATION INC N 12885 COST WITHLACOOCHEE RIVER ELECTRIC CARES N 5665 COST WITHLACOOCHEE RIVER ELECTRIC CARES O 9963 COST WITHLACOOCHEE RIVER ELECTRIC CARES R 290921 COST SCH R, PART II WREC EDUCATIONAL FOUNDATION, INC. (59-3407203) PRIMARY ACTIVITY - COLLEGE SCHOLARSHIPS WITHLACOOCHEE RIVER ELECTRIC CARES, INC. (59-3141822) PRIMARY ACTIVITY - FOOD, CLOTHING AND SHELTER TO DISTRESSED SCH R, PART IV URADCO, INC. (59-2594767) PRIMARY ACTIVITY - REAL ESTATE/CITRUS DIRECT CONTROLLING ENTITY - WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE, INC. LAKE JOVITA ASSOCIATES, INC. (59-3514097) PRIMARY ACTIVITY - REAL ESTATE DEVELOPMENT DIRECT CONTROLLING ENTITY - URADCO, INC. ONE LACOOCHEE CENTER (84-3761078) PRIMARY ACTIVITY - REAL ESTATE DEVELOPMENT DIRECT CONTROLLING ENTITY - URADCO, INC.