2024-08-01T17:46:23-04:00 2023-12-31 750767305 AXLEY & RODE LLP PO BOX 1388 LUFKIN TX 759021388 990 2023-01-01 740695563 SAM HOUSTON ELECTRIC COOPERATIVE INC SAMH 9363275711 PO BOX 1121 LIVINGSTON TX 773511121 SONYA REECE CFO 9363281217 2024-07-30 true true MEHGAN IBANEZ CPA P02031962 9366346621 2024-07-30 2023 2024-08-08 14:25:15Z DOUGLAS TURK PO BOX 1121 LIVINGSTON TX 773511121 218824648 false X WWW.SAMHOUSTON.NET X 1939 TX SALES AND SERVICE OF ELECTRICAL POWER TO MEMBERS ON A COOPERATIVE BASIS. 11 11 191 0 0 248527726 217697141 152115 339743 645554 787764 249325395 218824648 0 1640281 2309308 2493775 2683486 0 0 232108837 214104341 236242893 219097135 13082502 -272487 567032406 609884987 350057852 394207723 216974554 215677264 SALES AND SERVICES OF ELECTRICAL POWER TO MEMBERS ON A COOPERATIVE BASIS false false SALES AND SERVICE OF ELECTRICAL POWER TO APPROXIMATELY 90,000 ACCOUNTS ON A COOPERATIVE BASIS false false false false false false false true false true false true false true true true false false false false false false false false false false false false true false false false false false false false false false false false true true false false true 83 0 true 191 true false false false false false 212493470 6331178 false false false X 11 11 false false false false true true true true false false false true true true true true true true true false X SONYA REECE 9363275711 PO BOX 1121 LIVINGSTON TX 77351 X DOUGLAS TURK CEO 65.90 X 403509 0 134617 RYAN BROWN ASSISTANT GM 45.61 X 285257 0 74336 KEITH STAPLES CIO 43.79 X 270977 0 111586 JOSEPH CONNER CFO 41.81 X 249490 0 59730 RICKY HARRELL CMS OFFICER 42.44 X 221220 0 98502 RACHEL HAWKINS CCO 41.21 X 207683 0 34481 LARRY HORN DIRECTOR OF 44.59 X 192308 0 131293 SCOTT FERGUSON DIRECTOR COO 43.89 X 189690 0 142805 JOEL COLSTON CHIEF ENGINE 42.58 X 171611 0 45547 GARY WHITE DIRECTOR OF 46.12 X 167391 0 164991 TERRY LOWE FOREMAN 64.85 X 187216 0 50387 CRAIG BARLOW LINEMAN 63.25 X 168327 0 64994 ROBERT BOYD PRESIDENT 9.37 X X 26868 0 0 DON BOYETT TREASURER 6.75 X X 27768 0 0 CASEY EVANS DAVIS DIRECTOR 3.83 X 25469 0 0 JAMES ELMORE DIRECTOR 2.32 X 27468 0 0 KATHERINE HARDIN SECRETARY 3.81 X X 25968 0 0 GARY JENKE DIRECTOR 4.07 X 25468 0 0 ERNIE MILES DIRECTOR 4.06 X 26668 0 0 MICHAEL OLDNER DIRECTOR 2.73 X 26769 0 0 MILT PURVIS VICE PRESIDE 4.50 X X 3769 0 0 JIM SEALE DIRECTOR 4.50 X 26469 0 0 CHUCK TURNER DIRECTOR 5.16 X 26368 0 0 LYNN HENDRIX - SEE SCHEDULE O RETIRED DIRE 0.00 X 19554 0 0 ROBERT LEISNER - SEE SCHEDULE O RETIRED DIRE 0.00 X 19554 0 0 3022839 1113269 83 true true false EAST TEXAS ELECTRIC COOPERATIVE PO BOX 631623 NACOGDOCHES TX 759631623 WHOLESALE ELECT 134953994 KBS MANAGEMENT PO BOX 4591 BRYAN TX 77805 WAREHO 41174608 COTTON UTILITY CONSTRUCTORS INC 1845 GALLOWAY LANE LIVINGSTON TX 77351 LINE CONTRACTOR 9240034 SHELTON ENERGY SOLUTIONS LLC 1439 CENTRE COURT SUITE 600 ALEXANDRIA LA 71315 LINE CONTRACTOR 5565146 GRIFFIN ELECTRIC PO BOX 1064 LIVINGSTON TX 77351 LINE CONTRACTOR 5364158 87 ELECTRIC ENERGY 221000 212493470 212493470 PATRONAGE CAPITAL - G&T 221000 3207324 3207324 PATRONAGE CAPITAL - OTHER 221000 1996347 1996347 217697141 138301 138301 201442 201442 201442 201442 QUALIFIED POLE RENTAL 221000 787764 787764 787764 218824648 218686347 138301 2309308 2637601 45885 11535374 22999053 COST OF PURCHASED POWER 131692581 MAINTENANCE - DIST EXP 20499110 ADMIN & GENERAL 9171267 CONSUMER ACCOUNTS 7394247 10812709 219097135 0 0 0 5618566 2590282 2360231 1562424 28250319 21885458 317475 382062 23473494 18521256 735279586 252814939 428388040 482464647 78624281 82478858 567032406 609884987 38732595 33057306 1724104 964176 302562373 351824406 7038780 8361835 350057852 394207723 X 216974554 215677264 216974554 215677264 567032406 609884987 X -272487 -1024803 X false true X true false false true X 10867899 10867899 20507628 11252986 9254642 703904059 241561953 462342106 482464647 PATRONAGE INVESTMENT - ETEC (SRG&T) 50529933 C PATRONAGE CAPITAL - ETEC 15031774 C PATRONAGE CAPITAL - COBANK 8360721 C PATRONAGE CAPITAL - CFC 5440553 C PATRONAGE INVESTMENT - ETEC (TEX-LA) 2183024 C PATRONAGE CAPITAL - TEC 469621 C INVESTMENT IN OTHER ASSOC. ORG 463232 C 82478858 POST RETIREMENT BENEFITS 8362642 DEFERRED CREDITS - OVER RECOVERY -807 8361835 X 218824648 218824648 218824648 216787827 216787827 2309308 2309308 219097135 SCHEDULE D, PAGE 2, PART IV, LINE 2B THE COOPERATIVE HOLDS SCHOLARSHIP FUNDS IN A CUSTODIAL CAPACITY GRANTED BY TEXAS LEGISLATURE HOUSE BILL 3203. THIS LEGISLATION ALLOWS ELECTRIC COOPERATIVES TO USE UNCLAIMED PROPERTY TO FUND SCHOLARSHIPS, ECONOMIC DEVELOPMENT, AND ENERGY EFFICIENCY GRANTS. THE COOPERATIVE WAS HOLDING 962,295 IN SUCH FUNDS AT YEAR END 2023 AND 958,328 AT YEAR END 2022. THE COOPERATIVE IS HOLDING 0 AND 763,965 AT YEAR END 2023 AND 2022 RESPECTIVELY, IN "UNUSED AID TO CONSTRUCTION." THIS IS AN ESCROW TYPE ARRANGEMENT IN THAT THE FUNDS WERE RECEIVED FOR CONSTRUCTION OF UTILITY INFRASTRUCTURE TO BE USED BY A SPECIFIC MEMBER(S). THE FUNDS WILL BE USED AS CONSTRUCTION IS COMPLETED. AFTER COMPLETION OF THE CONSTRUCTION PROJECT, ALL REMAINING UNUSED AID TO CONSTRUCTION IS REFUNDED TO THE MEMBER(S). THE COOPERATIVE IS HOLDING 1,881 AND 1,811 AT YEAR END 2023 AND 2022, RESPECTIVELY, THAT IT COLLECTED FOR OPERATION ROUNDUP. OPERATION ROUNDUP IS A PROGRAM THAT WAS IMPLEMENTED IN 2014 BY THE COOPERATIVE TO ALLOW MEMBERS THE OPTION TO ROUND UP THEIR MONTHLY POWER BILLS TO THE NEXT DOLLAR FOR THE PURPOSE OF ALLOWING THAT MONEY TO BE ACCUMULATED BY THE SAM HOUSTON ELECTRIC COOPERATIVE CHARITABLE FOUNDATION, A RELATED ORGANIZATION, AND DONATED FOR CHARITABLE OR OTHER NONPROFIT PURPOSES TO ENTITIES IN THE COOPERATIVE'S SERVICE AREA. THE FUNDS ARE COLLECTED BY THE COOPERATIVE AND REMITTED TO THE FOUNDATION. SCHEDULE D, PAGE 3, PART X THE COOPERATIVE IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE OF 1986. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. FASB ASC 740 REQUIRES RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS. THE COOPERATIVE CURRENTLY ACCOUNTS FOR UNCERTAIN TAX POSITIONS BASED ON THE ESTIMATED LIKELIHOOD OF ASSESSMENT AND HAS NOT DETERMINED THAT ANY TAX POSITIONS REQUIRE AN ACCRUAL BASED ON CURRENT STANDARDS OF ACCOUNTING. FOR FEDERAL INCOME TAX PURPOSES, THE TAX RETURNS ESSENTIALLY REMAIN OPEN FOR POSSIBLE EXAMINATION FOR A PERIOD OF THREE YEARS AFTER THE DATE ON WHICH THOSE RETURNS ARE FILED. SCHEDULE D, PAGE 4, PART XII, LINE 4B CAPITAL CREDIT RETIREMENTS 2,309,308 X X X X X X false false false DOUGLAS TURK CEO 374670 19239 9600 109336 25281 538126 RYAN BROWN ASSISTANT GM 261506 14151 9600 49055 25281 359593 KEITH STAPLES CIO 249370 12007 9600 96249 15337 382563 JOSEPH CONNER CFO 228135 11755 9600 34449 25281 309220 RICKY HARRELL CMS OFFICER 202120 9500 9600 97298 1204 319722 RACHEL HAWKINS CCO 188583 9500 9600 21211 13270 242164 LARRY HORN DIRECTOR OF OPS 173957 8751 9600 106333 24960 323601 SCOTT FERGUSON DIRECTOR COOP SERVIC 171746 8344 9600 129314 13491 332495 JOEL COLSTON CHIEF ENGINEER OFFIC 152511 9500 9600 20628 24919 217158 GARY WHITE DIRECTOR OF SAFETY 149925 7866 9600 140081 24910 332382 TERRY LOWE FOREMAN 182343 4873 25794 24593 237603 CRAIG BARLOW LINEMAN 163766 4561 40456 24538 233321 LYNN HENDRIX - SEE SCHEDULE O RETIRED DIRECTOR 19554 19554 ROBERT LEISNER - SEE SCHEDULE O RETIRED DIRECTOR 19554 19554 SCHEDULE J, PART III PART II, COLUMN C. INCLUDED IN THIS AMOUNT ARE THE EMPLOYER CONTRIBUTIONS TO THE DEFINED CONTRIBUTION PLAN (401K) AND THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER THE NRECA R&S DEFINED BENEFIT PLAN. THE CHANGE IN ACTUAL VALUE FOR EACH INDIVIDUAL PARTICIPANT IS BASED ON ACTUARIAL DATA AND ASSUMPTIONS. THE AMOUNTS IN COLUMN C ARE FURTHER EXPLAINED AS FOLLOWS. DOUGLAS TURK - 19,800 401K, 89,536 ACTUARIAL INCREASE KEITH STAPLES - 14,430 401K, 81,819 ACTUARIAL INCREASE JOSEPH CONNER - 14,106 401K, 20,343 ACTUARIAL INCREASE RYAN BROWN - 16,256 401K, 32,799 ACTUARIAL INCREASE SCOTT FERGUSON - 9,979 401K, 119,335 ACTUARIAL INCREASE RICKY HARRELL - 11,427 401K, 85,871 ACTUARIAL INCREASE TERRY LOWE - 5,658 401K, 20,136 ACTUARIAL INCREASE CRAIG BARLOW - 5,332 401K, 35,124 ACTUARIAL INCREASE RACHEL HAWKINS - 11,427 401K, 9,784 ACTUARIAL INCREASE LARRY HORN - 10,501 401K, 95,832 ACTUARIAL INCREASE JOEL COLSTON - 9,404 401K, 11,224 ACTUARIAL INCREASE GARY WHITE - 8,878 401K, 131,203 ACTUARIAL INCREASE FORM 990, PAGE 6, PART VI, LINE 6 THE COOPERATIVE HAS ONLY ONE CLASS OF MEMBERS. EACH MEMBER HAS A RIGHT TO RECEIVE ADEQUATE AND DEPENDABLE ELECTRIC SERVICE, PRIVACY, BE HEARD AT MEMBER MEETINGS, THEIR SHARE OF CAPITAL CREDITS, INFORMATION ABOUT SAM HOUSTON ECI, HAVE THEIR PROPERTY TREATED WITH CARE BY COOPERATIVE EMPLOYEES, BE HEARD IF THEY HAVE A DISPUTE OR COMPLAINT, AND HAVE SERVICE WITHOUT REGARD TO RACE, COLOR, SEX, NATIONALITY, RELIGION, OR MARITAL STATUS. FORM 990, PAGE 6, PART VI, LINE 7A THE MEMBERS HAVE THE ABILITY TO ELECT THE GOVERNING BODY. DIRECTORS ARE ELECTED FOR 5 YEAR TERMS AND MUST MEET CERTAIN QUALIFICATIONS AS DEFINED BY THE COOPERATIVE BYLAWS. ELECTIONS ARE CONDUCTED BY MAIL OR ELECTRONIC BALLOT. THE BOARD OF DIRECTORS APPOINTS AN ELECTION COMMITTEE WHOSE TERMS AND QUALIFICATIONS ARE DEFINED IN THE BYLAWS. NOMINEES ARE CHOSEN BY THE ELECTION COMMITTEE AND A BALLOT IS PREPARED AND POSTED AS WELL AS MAILED. NOMINATIONS BY PETITION ARE ALSO ACCEPTED. A DEADLINE FOR RECEIPT OF BALLOTS IS DEFINED IN THE COOPERATIVE BYLAWS. A NOMINEE RECEIVING THE MOST VOTES FOR A PARTICULAR PLACE SHALL BE DEEMED ELECTED. FORM 990, PAGE 6, PART VI, LINE 7B THE MEMBERS MUST APPROVE BY VOTE ALL DIRECTORS AS WELL AS ANY CHANGES TO THE ARTICLES OF INCORPORATION. FORM 990, PAGE 6, PART VI, LINE 8B THE COMMITTEES MAKE ADVISORY RECOMMENDATIONS TO, BUT ARE NOT ATHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 11B ONE OF THE DUTIES ASSIGNED TO THE AUDIT COMMITTEE BY THE BOARD IS PRELIMINARY REVIEW OF THE 990. EACH MEMBER OF THE AUDIT COMMITTEE IS ALLOWED TIME TO REVIEW THE 990 AND INQUIRE OF THE PARTIES RESPONSIBLE FOR THE 990 COMPLETION AND FILING. ONCE THE AUDIT COMMITTEE HAS REVIEWED AND APPROVED THE 990, IT IS MADE AVAILABLE TO THE FULL BOARD FOR REVIEW AND QUESTIONS. THE AUDIT COMMITTEE MAKES RECOMMENDATIONS TO THE ENTIRE BOARD THAT THE 990 BE APPROVED AND FILED. AFTER BOARD APPROVAL, THE 990 IS FILED. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE HAS INCLUDED A CONFLICT OF INTEREST POLICY IN ITS BOARD POLICY MANUAL. BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST INQUIRY ANNUALLY AND SIGN AN AFFIDAVIT IDENTIFYING WHETHER ANY SUCH CONFLICTS EXIST. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR INTERPRETING AND ENFORCING THE POLICY. FORM 990, PAGE 6, PART VI, LINE 15A A WAGE AND SALARY SURVEY IS OBTAINED ANNUALLY FROM AN INDEPENDENT SOURCE. A COMMITTEE OF THE BOARD REVIEWS THE SURVEY AND OTHER RELEVENT INFORMATION AND MAKES A RECOMMENDATION TO THE FULL BOARD. THE BOARD REVIEWS THE INFORMATION AND SETS THE COMPENSATION FOR THE CEO. FORM 990, PAGE 6, PART VI, LINE 15B A WAGE AND SALARY SURVEY IS OBTAINED ANNUALLY FROM AN INDEPENDENT SOURCE. THE CEO REVIEWS THE SURVEY AND MAKES A RECOMMENDATION TO A COMMITTEE OF THE BOARD FOR SALARY RANGES FOR OFFICERS AND KEY EMPLOYEES. THAT COMMITTEE REVIEWS THE RECOMMENDED RANGES, MAKES ANY NECESSARY CHANGES AND RECOMMENDS THE RANGES TO THE FULL BOARD FOR APPROVAL. THE CEO EVALUATES THE OFFICERS AND KEY EMPLOYEES AND SETS THEIR SALARIES WITHIN THE RANGES APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE ON THE COOPERATIVE'S WEBSITE. FINANCIAL STATEMENTS ARE ALSO INCLUDED IN AN ANNUAL REPORT AND MAILED TO ALL MEMBERS. FORM 990, PART VII COMPENSATION AMOUNTS FOR RETIRED DIRECTORS REFLECT CERTAIN HEALTH INSURANCE BENEFITS DURING THE CALENDAR YEAR. FORM 990, PART XI, LINE 9 OTHER COMPREHENSIVE LOSS -1,024,803 SAM HOUSTON ELECTRIC COOPERATIVE CH 1157 EAST CHURCH STREET LIVINGSTON TX 773513360 474364992 CHARITABLE TX 501C3 7 SHECO SAM HOUSTON ELECTRIC COOPERATIVE true false false false false false false false false false false false false false false false false false false false SCHEDULE R TRANSACTIONS WITH RELATED ORGANIZATIONS PART V LINE 1 PART V LINE 1(L), PART V LINE 1 (N), & PART V LINE 1 (0) - THE COOPERATIVE USES ITS EMPLOYEES AND FACILITIES TO ADMINISTER OPERATIONS OF THE SAM HOUSTON ELECTRIC COOPERATIVE CHARITABLE FOUNDATION. THE COOPERATIVE DOES NOT CHARGE OR COLLECT FEES FOR THESE ACTIVITIES. PART V LINE 1(R) - THE COOPERATIVE ROUTINELY COLLECTS MONTHLY DONATIONS, ON BEHALF OF THE SAM HOUSTON ELECTRIC COOPERATIVE CHARITABLE FOUNDATION, AS PART OF THE COOPERATIVE'S MONTHLY BILLINGS TO MEMBERS. ALL DONATIONS COLLECTED ARE REMITTED TO THE FOUNDATION ON A MONTHLY BASIS. THE COOPERATIVE DOES NOT RETAIN ANY FEE FOR THESE SERVICES. THE FAIR VALUE OF THESE SERVICES HAVE BEEN DETERMINED TO BE BELOW 50,000.