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ObjectId: 201622109349301132 - Submission: 2016-07-28
TIN: 88-0086059
Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Attach to Form 990.
Information about Schedule J (Form 990) and its instructions is at
www.irs.gov/form990
.
OMB No. 1545-0047
20
15
Open to Public Inspection
Name of the organization
WELLS RURAL ELECTRIC COMPANY
Employer identification number
88-0086059
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
First-class or charter travel
Housing allowance or residence for personal use
Travel for companions
Payments for business use of personal residence
Tax idemnification and gross-up payments
Health or social club dues or initiation fees
Discretionary spending account
Personal services (e.g., maid, chauffeur, chef)
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain
.........
1b
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a?
..
2
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
Compensation committee
Written employment contract
Independent compensation consultant
Compensation survey or study
Form 990 of other organizations
Approval by the board or compensation committee
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment?
................
4a
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan?
.........
4b
No
c
Participate in, or receive payment from, an equity-based compensation arrangement?
.........
4c
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization?
...........................
5a
b
Any related organization?
5b
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization?
6a
b
Any related organization?
.........................
6b
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III
............
7
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III
.............................
8
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)?
.........................
9
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2015
Page 2
Schedule J (Form 990) 2015
Page
2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees.
Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note.
The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A)
Name and Title
(B)
Breakdown of W-2 and/or 1099-MISC compensation
(C)
Retirement and other deferred compensation
(D)
Nontaxable
benefits
(E)
Total of columns
(B)(i)-(D)
(F)
Compensation in column(B) reported as deferred on prior Form 990
(i)
Base compensation
(ii)
Bonus & incentive compensation
(iii)
Other reportable compensation
1
CLAY R FITCH
CEO
(i)
(ii)
222,694
-------------
0
0
-------------
0
25,953
-------------
0
205,162
-------------
0
32,385
-------------
0
486,194
-------------
0
0
-------------
0
2
WILLIAM R WELSH
CFO
(i)
(ii)
123,680
-------------
0
2,600
-------------
0
7,890
-------------
0
42,869
-------------
0
29,792
-------------
0
206,831
-------------
0
0
-------------
0
3
MICHAEL P CROMIE
COO
(i)
(ii)
124,849
-------------
0
2,000
-------------
0
5,336
-------------
0
40,497
-------------
0
31,498
-------------
0
204,180
-------------
0
0
-------------
0
4
RICHARD H JAMES
CIO
(i)
(ii)
113,070
-------------
0
11,900
-------------
0
7,079
-------------
0
30,058
-------------
0
28,432
-------------
0
190,539
-------------
0
0
-------------
0
5
ZANE PETERS
GENERAL FOREMAN
(i)
(ii)
162,066
-------------
0
0
-------------
0
1,010
-------------
0
22,561
-------------
0
28,060
-------------
0
213,697
-------------
0
0
-------------
0
6
RYAN BRODSHO
LINE FOREMAN
(i)
(ii)
121,579
-------------
0
0
-------------
0
447
-------------
0
26,877
-------------
0
28,060
-------------
0
176,963
-------------
0
0
-------------
0
7
WILLIAM COLLINS
LINE FOREMAN
(i)
(ii)
118,653
-------------
0
0
-------------
0
1,875
-------------
0
52,181
-------------
0
29,360
-------------
0
202,069
-------------
0
0
-------------
0
8
KYLE MURPHY
LINE FOREMAN
(i)
(ii)
123,001
-------------
0
0
-------------
0
495
-------------
0
13,274
-------------
0
28,580
-------------
0
165,350
-------------
0
0
-------------
0
9
JEFFERY R CROMIE
DIRECTOR OF MARKETING
(i)
(ii)
113,674
-------------
0
0
-------------
0
3,344
-------------
0
25,608
-------------
0
20,526
-------------
0
163,152
-------------
0
0
-------------
0
Schedule J (Form 990) 2015
Page 3
Schedule J (Form 990) 2015
Page
3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference
Explanation
FORM 990, PART II, COLUMN C
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. CLAY R. FITCH ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $202,947 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,215 TOTAL REPORTED IN COLUMN C: 205,162 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (202,947) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 58,984 EXPENSE TO COOPERATIVE $61,199 WILLIAM R. WELSH ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $41,583 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,286 TOTAL REPORTED IN COLUMN C: 42,869 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (41,583) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 32,265 EXPENSE TO COOPERATIVE $33,551 MICHAEL P. CROMIE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $39,203 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,294 TOTAL REPORTED IN COLUMN C: 40,497 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (39,203) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 32,566 EXPENSE TO COOPERATIVE $33,860 RICHARD H. JAMES ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $28,891 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,167 TOTAL REPORTED IN COLUMN C: 30,058 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (28,891) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 30,466 EXPENSE TO COOPERATIVE $31,633 ZANE PETERS ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $21,894 EMPLOYER CONTRIBUTION TO 401(K) PLAN 667 TOTAL REPORTED IN COLUMN C: 22,561 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (21,894) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 29,732 EXPENSE TO COOPERATIVE $30,399 RYAN BRODSHO ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $25,900 EMPLOYER CONTRIBUTION TO 401(K) PLAN 977 TOTAL REPORTED IN COLUMN C: 26,877 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (25,900) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 25,994 EXPENSE TO COOPERATIVE $26,971 WILLIAM COLLINS ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $51,205 EMPLOYER CONTRIBUTION TO 401(K) PLAN 976 TOTAL REPORTED IN COLUMN C: 52,181 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (51,205) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 25,935 EXPENSE TO COOPERATIVE $26,911 KYLE MURPHY ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $12,297 EMPLOYER CONTRIBUTION TO 401(K) PLAN 977 TOTAL REPORTED IN COLUMN C: 13,274 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (12,297) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 26,052 EXPENSE TO COOPERATIVE $27,029 JEFFERY R. CROMIE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $24,721 EMPLOYER CONTRIBUTION TO 401(K) PLAN 887 TOTAL REPORTED IN COLUMN C: 25,608 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (24,721) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 23,792 EXPENSE TO COOPERATIVE $24,679
Schedule J (Form 990) 2015
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