Skip to content
Nonprofiteer
← SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$293,135,758
Total expenses
$288,336,265
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$287,977,406
Investment income
$3,612,424
Other revenue
$1,545,928
Total assets, end of year
$614,582,746
Total liabilities, end of year
$391,420,461
Net assets or fund balances, end of year
$223,162,285
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE AND DIST. OF ELECT.

    total $283,816,386 · related or exempt $283,816,386

  • 2b · Program service revenue: CONTRIB IN AID OF CONSTRUCT

    total $4,013,280 · related or exempt $4,013,280

  • 2c · Program service revenue: PATRONAGE ALLOC RECEIVED

    total $147,740 · related or exempt $147,740

  • 3 · Investment income

    total $3,300,977 · excluded $3,300,977

  • 6a · Gross rents

    personal property $1,606,096

  • 6b · Less rental expenses

    personal property $60,168

  • 6c · Rental income or loss

    personal property $1,545,928

  • 6d · Net rental income or loss

    total $1,545,928 · unrelated business $415,761 · excluded $1,130,167

  • 7a · Gross sales of assets other than inventory

    other assets $311,447

  • 7c · Gain or loss

    other assets $311,447

  • 7d · Net gain or loss

    total $311,447 · excluded $311,447

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $11,769,822

  • 5 · Compensation of officers, directors and key employees

    total $1,332,056

  • 7 · Other salaries and wages

    total $23,530,647

  • 8 · Pension plan contributions

    total $2,916,515

  • 10 · Payroll taxes

    total $1,952,028

  • 11b · Fees: legal

    total $788,837

  • 17 · Travel

    total $2,704,710

  • 19 · Conferences, conventions and meetings

    total $96,053

  • 20 · Interest

    total $11,886,441

  • 22 · Depreciation, depletion and amortization

    total $20,220,265

  • 24a · Other expenses: COST OF POWER

    total $199,582,842

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $11,184,315

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $5,907,078

  • 24d · Other expenses: ADMIN & GENERAL

    total $5,552,086

  • 24e · All other expenses

    total -$11,087,430

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,919,897 · end of year $13,961,500

  • 2 · Savings and temporary cash investments

    beginning of year $69,696,642 · end of year $24,839,824

  • 4 · Accounts receivable

    beginning of year $34,509,285 · end of year $33,482,865

  • 8 · Inventories for sale or use

    beginning of year $10,702,416 · end of year $18,280,438

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,511,475 · end of year $4,385,032

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

    $684,369,547

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

    $234,742,269

  • 10c · Land, buildings and equipment, net

    beginning of year $422,608,309 · end of year $449,627,278

  • 13 · Investments: program-related

    beginning of year $66,264,937 · end of year $69,055,587

  • 15 · Other assets

    beginning of year $900,135 · end of year $950,222

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,947,669 · end of year $22,109,286

  • 23 · Secured mortgages and notes payable

    beginning of year $374,410,307 · end of year $361,371,103

  • 25 · Other liabilities

    beginning of year $8,076,425 · end of year $7,940,072

  • 31 · Retained earnings, endowment or other funds

    beginning of year $211,678,695 · end of year $223,162,285

Mission and programs · 2023

Mission

PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES.

  • PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 199,582,842 OTHER SALARIES AND WAGES 23,530,647 DEPRECIATION EXPENSE 20,220,265

As filed on the 2023 return.

Listed in Part VII

  • Gregory S Rogers

    PRESIDENT &

    Total calculated
    $670,356
    From this org
    $566,072
    From related orgs
    $0
    Other
    $104,284
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $461,072
    Bonus
    $105,000
    Other
    not reported
    Deferred
    $88,500
    Nontaxable benefits
    $15,784
    Filer's total
    $670,356

  • Jonathan M Aulgur

    ASST SEC/TRE

    Total calculated
    $350,175
    From this org
    $303,614
    From related orgs
    $0
    Other
    $46,561
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,114
    Bonus
    $15,500
    Other
    not reported
    Deferred
    $42,985
    Nontaxable benefits
    $3,576
    Filer's total
    $350,175

  • Wayne D Hannah Jr

    VP & CIO

    Total calculated
    $326,970
    From this org
    $247,632
    From related orgs
    $0
    Other
    $79,338
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $237,732
    Bonus
    $9,900
    Other
    not reported
    Deferred
    $63,744
    Nontaxable benefits
    $15,594
    Filer's total
    $326,970

  • Jason E Burch

    VP ENGINEERI

    Total calculated
    $260,456
    From this org
    $211,815
    From related orgs
    $0
    Other
    $48,641
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $201,315
    Bonus
    $10,500
    Other
    not reported
    Deferred
    $32,398
    Nontaxable benefits
    $16,243
    Filer's total
    $260,456

  • William E Rees

    VP OPERATION

    Total calculated
    $247,184
    From this org
    $183,598
    From related orgs
    $0
    Other
    $63,586
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,998
    Bonus
    $7,600
    Other
    not reported
    Deferred
    $48,696
    Nontaxable benefits
    $14,890
    Filer's total
    $247,184

  • Scott G Boyd

    DIR INFRASTR

    Total calculated
    $238,489
    From this org
    $180,982
    From related orgs
    $0
    Other
    $57,507
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $173,782
    Bonus
    $7,200
    Other
    not reported
    Deferred
    $46,364
    Nontaxable benefits
    $11,143
    Filer's total
    $238,489

  • Tracy McBride

    VP FINANCE

    Total calculated
    $229,309
    From this org
    $180,869
    From related orgs
    $0
    Other
    $48,440
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,869
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,615
    Nontaxable benefits
    $14,825
    Filer's total
    $229,309

  • Bill Orndoff

    CHAIR

    Total calculated
    $39,200
    From this org
    $39,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.29

  • Larry C Howdyshell

    DIRECTOR

    Total calculated
    $32,150
    From this org
    $32,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.6

  • Brent Arbogast

    DIRECTOR

    Total calculated
    $30,425
    From this org
    $30,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.25

  • Stephen Burkholder

    DIRECTOR

    Total calculated
    $30,250
    From this org
    $30,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Robbie F Marchant

    DIRECTOR

    Total calculated
    $30,150
    From this org
    $30,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.01

  • Suzanne Obenshain

    DIRECTOR

    Total calculated
    $30,150
    From this org
    $30,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.54

  • Ca Helsley

    SEC/TREAS

    Total calculated
    $29,950
    From this org
    $29,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Jr Dofflemyer

    VICE CHAIR

    Total calculated
    $29,850
    From this org
    $29,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.84

  • Todd Van Horn

    DIRECTOR

    Total calculated
    $29,850
    From this org
    $29,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.26

  • Brian Plum

    DIRECTOR

    Total calculated
    $29,550
    From this org
    $29,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4
GREGORY S. ROGERS 0 22,500 0
SCHEDULE J, PART III
CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR)UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) PLAN.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
21 October 2024
IRS schema version
2023v5.0
Source object
202432969349301608

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.