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Nonprofiteer
← GARDEN VALLEY TELEPHONE COMPANY

Form 990 for tax year 2024

Filed by GARDEN VALLEY TELEPHONE COMPANY.

Totals

Total revenue
$41,163,364
Total expenses
$41,163,364
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$40,540,564
Investment income
$617,296
Other revenue
$5,504
Total assets, end of year
$121,721,258
Total liabilities, end of year
$37,753,077
Net assets or fund balances, end of year
$83,968,181
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: TELEPHONE SERVICES

    total $40,357,374 · related or exempt $40,357,374

  • 2b · Program service revenue: PARTNERSHIP INCOME

    total $179,669 · related or exempt $179,669

  • 2c · Program service revenue: ADVERTISING

    total $2,401 · unrelated business $2,401

  • 2d · Program service revenue: OTHER INCOME

    total $1,120 · unrelated business $1,120

  • 3 · Investment income

    total $617,296 · excluded $617,296

  • 6a · Gross rents

    real property $15,395

  • 6b · Less rental expenses

    real property $9,891

  • 6c · Rental income or loss

    real property $5,504

  • 6d · Net rental income or loss

    total $5,504 · unrelated business $5,504

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,946,147

  • 5 · Compensation of officers, directors and key employees

    total $807,287

  • 7 · Other salaries and wages

    total $9,020,344

  • 8 · Pension plan contributions

    total $2,663,410

  • 11b · Fees: legal

    total $11,963

  • 11c · Fees: accounting

    total $92,740

  • 20 · Interest

    total $917,392

  • 22 · Depreciation, depletion and amortization

    total $6,780,674

  • 24a · Other expenses: PLANT, MAINTENANCE & CO

    total $8,061,002

  • 24b · Other expenses: ACCESS, PROGRAMMING AND

    total $4,984,910

  • 24c · Other expenses: CUSTOMER

    total $1,902,773

  • 24d · Other expenses: CORPORATE

    total $771,940

  • 24e · All other expenses

    total $202,782

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,528,300 · end of year $6,905,787

  • 3 · Pledges and grants receivable

    beginning of year $1,370,959 · end of year $1,972,805

  • 4 · Accounts receivable

    beginning of year $3,619,080 · end of year $3,442,587

  • 8 · Inventories for sale or use

    beginning of year $1,854,273 · end of year $2,033,149

  • 9 · Prepaid expenses and deferred charges

    beginning of year $121,756 · end of year $145,100

  • 10a · Land, buildings and equipment: cost or other basis

    $168,109,328

  • 10b · Land, buildings and equipment: accumulated depreciation

    $81,332,194

  • 10c · Land, buildings and equipment, net

    beginning of year $84,486,367 · end of year $86,777,134

  • 11 · Investments: publicly traded securities

    beginning of year $3,904,210 · end of year $3,861,135

  • 12 · Investments: other securities

    beginning of year $2,766,250 · end of year $3,401,615

  • 14 · Intangible assets

    beginning of year $989 · end of year $0

  • 15 · Other assets

    beginning of year $11,802,242 · end of year $13,181,946

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,262,453 · end of year $2,243,719

  • 23 · Secured mortgages and notes payable

    beginning of year $29,418,439 · end of year $32,346,078

  • 25 · Other liabilities

    beginning of year $2,755,130 · end of year $3,163,280

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $76,956,635 · end of year $78,343,677

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,061,769 · end of year $5,624,504

Mission and programs · 2024

Mission

PROVIDE COMMUNICATION SERVICES TO ITS MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.

  • GARDEN VALLEY TELEPHONE COMPANY PROVIDES COMMUNICATION SERVICES TO ITS MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.

As filed on the 2024 return.

Listed in Part VII

  • Allen Paulson

    SECRETARY

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Ferden

    VICE PRESIDENT

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Arlene Novak

    PRESIDENT

    Total calculated
    $13,650
    From this org
    $13,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Devries

    DIRECTOR

    Total calculated
    $13,661
    From this org
    $13,661
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Leland Hoaas

    TREASURER

    Total calculated
    $10,050
    From this org
    $10,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Byron Ness

    DIRECTOR

    Total calculated
    $12,524
    From this org
    $12,524
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ronald Kiesow

    DIRECTOR

    Total calculated
    $9,322
    From this org
    $9,322
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Larry Djernes

    DIRECTOR

    Total calculated
    $11,576
    From this org
    $11,576
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Casey Holland

    DIRECTOR

    Total calculated
    $9,382
    From this org
    $9,382
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Brinkman

    CEO/GENERAL MANAGER

    Total calculated
    $473,305
    From this org
    $342,444
    From related orgs
    $0
    Other
    $130,861
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $342,444
    Bonus
    $0
    Other
    $0
    Deferred
    $101,501
    Nontaxable benefits
    $29,360
    Filer's total
    $473,305

  • Steve Mueller

    CHIEF FINANCIAL OFFICER

    Total calculated
    $229,667
    From this org
    $168,600
    From related orgs
    $0
    Other
    $61,067
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,600
    Bonus
    $0
    Other
    $0
    Deferred
    $52,033
    Nontaxable benefits
    $9,034
    Filer's total
    $229,667

  • Jon Smith

    CHIEF FACILITIES OFFICER

    Total calculated
    $252,459
    From this org
    $174,048
    From related orgs
    $0
    Other
    $78,411
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,048
    Bonus
    $0
    Other
    $0
    Deferred
    $52,618
    Nontaxable benefits
    $25,793
    Filer's total
    $252,459

  • Brian Grunhovd

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $245,852
    From this org
    $169,500
    From related orgs
    $0
    Other
    $76,352
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,500
    Bonus
    $0
    Other
    $0
    Deferred
    $50,559
    Nontaxable benefits
    $25,793
    Filer's total
    $245,852

  • Heidi Haaven

    CHIEF MARKETING OFFICER

    Total calculated
    $227,188
    From this org
    $163,455
    From related orgs
    $0
    Other
    $63,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,455
    Bonus
    $0
    Other
    $0
    Deferred
    $48,876
    Nontaxable benefits
    $14,857
    Filer's total
    $227,188

  • Sue Rasmussen

    CHIEF HUMAN RESOURCES OFFI

    Total calculated
    $216,394
    From this org
    $153,765
    From related orgs
    $0
    Other
    $62,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,765
    Bonus
    $0
    Other
    $0
    Deferred
    $46,576
    Nontaxable benefits
    $16,053
    Filer's total
    $216,394

  • Laurie Ramsey

    SERVICE OFC. SUPERVISOR

    Total calculated
    $180,178
    From this org
    $118,608
    From related orgs
    $0
    Other
    $61,570
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,608
    Bonus
    $0
    Other
    $0
    Deferred
    $35,777
    Nontaxable benefits
    $25,793
    Filer's total
    $180,178

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GARDEN VALLEY INNOVATIONS LLC

    PROVIDES IT SUPPORT AND RELATED SERVICES · MN · income $535,429 · assets $322,029

    Directly controlled by GARDEN VALLEY TELEPHONE COMPANY

  • MIDWEST BROADBAND PROPERTIES LLC

    TELECOMMUNICATIONS SUPPORT · MN · income $0 · assets $0

    Directly controlled by MAGNIFI BROADBAND INC

  • MIDWEST BROADBAND UNDERGROUND LLC

    TELECOMMUNICATIONS SUPPORT · MN · income $0 · assets $0

    Directly controlled by MAGNIFI BROADBAND INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GARDEN VALLEY HOLDINGS INC

    C · TELECOMMUNICATIONS · MN · 100% owned · share of assets $629,104 · controlled entity

    Directly controlled by GARDEN VALLEY TELEPHONE COMPANY

  • MAGNIFI BROADBAND INC

    C · TELECOMMUNICATIONS · MN · 100% owned · share of income $587,824 · share of assets $8,179,864 · controlled entity

    Directly controlled by GARDEN VALLEY HOLDINGS INC

  • KENTEC COMMUNICATIONS INC

    C · TELECOMMUNICATIONS · CO · 100% owned · share of income $1,493,175 · share of assets $7,023,997 · controlled entity

    Directly controlled by MAGNIFI BROADBAND INC

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202543219349314074

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