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Nonprofiteer
← TRINITY VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by TRINITY VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$197,727,488
Total expenses
$197,263,529
Contributions and grants received
$0
Grants paid
$6,746
Program service revenue
$196,368,075
Investment income
$365,071
Other revenue
$994,342
Total assets, end of year
$481,165,027
Total liabilities, end of year
$286,767,038
Net assets or fund balances, end of year
$194,397,989
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: SALES OF ELECTRICITY

    total $185,945,873 · related or exempt $185,945,873

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $7,933,589 · related or exempt $7,933,589

  • 2c · Program service revenue: SERVICE FEES

    total $1,573,917 · related or exempt $1,573,917

  • 2d · Program service revenue: TRANSMISSION WHEELING

    total $914,696 · related or exempt $914,696

  • 3 · Investment income

    total $69,841 · excluded $69,841

  • 7a · Gross sales of assets other than inventory

    other assets $299,768

  • 7b · Less cost or other basis and sales expenses

    other assets $4,538

  • 7c · Gain or loss

    other assets $295,230

  • 7d · Net gain or loss

    total $295,230 · related or exempt $295,230

  • 10a · Gross sales of inventory

    $70,612

  • 10b · Cost of goods sold

    $72,245

  • 10c · Net income from sales of inventory

    total -$1,633 · related or exempt -$1,633

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $895,454 · excluded $895,454

  • 11b · Other revenue: BOND SECURITIZATION P'SHIP INCOME

    total $100,521 · excluded $100,521

  • 11e · Other revenue, total

    $995,975

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,746

  • 4 · Benefits paid to or for members

    total $5,860,584

  • 5 · Compensation of officers, directors and key employees

    total $3,117,412

  • 7 · Other salaries and wages

    total $8,750,218

  • 8 · Pension plan contributions

    total $1,161,942

  • 9 · Other employee benefits

    total $3,048,699

  • 10 · Payroll taxes

    total $750,183

  • 20 · Interest

    total $10,261,114

  • 22 · Depreciation, depletion and amortization

    total $16,653,465

  • 24a · Other expenses: PURCHASED POWER

    total $128,099,638

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $11,764,538

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $4,837,075

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $1,941,663

  • 24e · All other expenses

    total $1,010,252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,359,111 · end of year $3,114,972

  • 2 · Savings and temporary cash investments

    beginning of year $750,031 · end of year $750,031

  • 4 · Accounts receivable

    beginning of year $9,319,503 · end of year $11,487,361

  • 8 · Inventories for sale or use

    beginning of year $1,154,641 · end of year $1,085,125

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,679,150 · end of year $4,163,707

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

    $530,352,051

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

    $153,064,446

  • 10c · Land, buildings and equipment, net

    beginning of year $336,746,029 · end of year $377,287,605

  • 13 · Investments: program-related

    beginning of year $71,469,855 · end of year $78,664,948

  • 15 · Other assets

    beginning of year $4,327,934 · end of year $4,611,278

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,839,289 · end of year $22,518,239

  • 21 · Escrow or custodial account liability

    beginning of year $791,228 · end of year $1,131,900

  • 23 · Secured mortgages and notes payable

    beginning of year $171,692,027 · end of year $219,111,922

  • 25 · Other liabilities

    beginning of year $47,835,045 · end of year $44,004,977

  • 29 · Capital stock, trust principal or current funds

    beginning of year $695,850 · end of year $709,760

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $188,952,815 · end of year $193,688,229

Mission and programs · 2024

Mission

TRINITY VALLEY ELECTRIC COOPERATIVE, INC. IS COMMITTED TO DELIVER SAFE AND RELIABLE ELECTRIC POWER AT A COMPETITIVE PRICE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 88,305 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Howard Tillison

    CHAIRMAN

    Total calculated
    $12,150
    From this org
    $12,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.7

  • Carolyn Minor

    VICE CHAIRMAN

    Total calculated
    $11,550
    From this org
    $11,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.3

  • Jo Ann Hanstrom

    SECRETARY

    Total calculated
    $10,350
    From this org
    $10,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jeff Priest

    DIRECTOR

    Total calculated
    $11,550
    From this org
    $11,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.5

  • Edward Reeve

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.6

  • Paul Weatherford

    DIRECTOR

    Total calculated
    $30,283
    From this org
    $30,283
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.5

  • Jack Endres

    DIRECTOR

    Total calculated
    $11,250
    From this org
    $11,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Jeffrey Lane

    CEO/GENERAL MANAGER

    Total calculated
    $525,881
    From this org
    $350,867
    From related orgs
    $0
    Other
    $175,014
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $328,127
    Bonus
    $2,392
    Other
    $20,348
    Deferred
    $136,637
    Nontaxable benefits
    $38,377
    Filer's total
    $525,881

  • Thomas Watson

    COO/ASST. GENERAL MANAGER

    Total calculated
    $430,619
    From this org
    $264,870
    From related orgs
    $0
    Other
    $165,749
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $243,628
    Bonus
    $5,235
    Other
    $16,007
    Deferred
    $137,286
    Nontaxable benefits
    $28,463
    Filer's total
    $430,619

  • Robert White

    CFO

    Total calculated
    $236,713
    From this org
    $188,516
    From related orgs
    $0
    Other
    $48,197
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $185,413
    Bonus
    $2,392
    Other
    $711
    Deferred
    $12,861
    Nontaxable benefits
    $35,336
    Filer's total
    $236,713

  • Rodney Wesley

    DIRECTOR OF ENGINEERING/OPS

    Total calculated
    $332,248
    From this org
    $198,298
    From related orgs
    $0
    Other
    $133,950
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,457
    Bonus
    $392
    Other
    $11,449
    Deferred
    $119,695
    Nontaxable benefits
    $14,255
    Filer's total
    $332,248

  • Donna Weaver

    DIRECTOR OF CORP SERVICES

    Total calculated
    $263,562
    From this org
    $177,640
    From related orgs
    $0
    Other
    $85,922
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $171,348
    Bonus
    $2,426
    Other
    $3,866
    Deferred
    $60,887
    Nontaxable benefits
    $25,035
    Filer's total
    $263,562

  • Bobbi Byford

    DIRECTOR OF CORP RELATIONS

    Total calculated
    $241,090
    From this org
    $170,506
    From related orgs
    $0
    Other
    $70,584
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $159,277
    Bonus
    $2,426
    Other
    $8,803
    Deferred
    $42,292
    Nontaxable benefits
    $28,292
    Filer's total
    $241,090

  • Timothy Craig

    MANAGER OF ENGINEERING

    Total calculated
    $225,850
    From this org
    $168,802
    From related orgs
    $0
    Other
    $57,048
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,686
    Bonus
    $1,426
    Other
    $8,690
    Deferred
    $42,679
    Nontaxable benefits
    $14,369
    Filer's total
    $225,850

  • Phillip Harrison

    MANAGER OF OPERATIONS

    Total calculated
    $235,804
    From this org
    $163,790
    From related orgs
    $0
    Other
    $72,014
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $151,992
    Bonus
    $2,426
    Other
    $9,372
    Deferred
    $35,101
    Nontaxable benefits
    $36,913
    Filer's total
    $235,804

  • Thomas Durden

    MANAGER OF OPERATIONS

    Total calculated
    $259,466
    From this org
    $166,313
    From related orgs
    $0
    Other
    $93,153
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $151,422
    Bonus
    $2,426
    Other
    $12,465
    Deferred
    $67,476
    Nontaxable benefits
    $25,677
    Filer's total
    $259,466

  • Gary Sherrard

    MANAGER OF SUB/TRANS

    Total calculated
    $268,546
    From this org
    $167,068
    From related orgs
    $0
    Other
    $101,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,935
    Bonus
    $1,426
    Other
    $10,707
    Deferred
    $87,022
    Nontaxable benefits
    $14,456
    Filer's total
    $268,546

  • Raymond Choyce

    JOURNEYMAN

    Total calculated
    $247,236
    From this org
    $195,940
    From related orgs
    $0
    Other
    $51,296
    Hours/week
    62

    Schedule J breakdown matched by us

    Base
    $192,641
    Bonus
    $1,392
    Other
    $1,907
    Deferred
    $29,860
    Nontaxable benefits
    $21,436
    Filer's total
    $247,236

  • Scott Stewart

    CREW FOREMAN

    Total calculated
    $240,845
    From this org
    $180,007
    From related orgs
    $0
    Other
    $60,838
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $176,259
    Bonus
    $2,676
    Other
    $1,072
    Deferred
    $24,412
    Nontaxable benefits
    $36,426
    Filer's total
    $240,845

  • Bryan Hicks

    JOURNEYMAN

    Total calculated
    $212,028
    From this org
    $168,039
    From related orgs
    $0
    Other
    $43,989
    Hours/week
    61

    Schedule J breakdown matched by us

    Base
    $164,823
    Bonus
    $2,426
    Other
    $790
    Deferred
    $9,978
    Nontaxable benefits
    $34,011
    Filer's total
    $212,028

  • Chance Franks

    JOURNEYMAN

    Total calculated
    $219,001
    From this org
    $167,787
    From related orgs
    $0
    Other
    $51,214
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $164,500
    Bonus
    $2,426
    Other
    $861
    Deferred
    $16,527
    Nontaxable benefits
    $34,687
    Filer's total
    $219,001

  • Paul Camacho

    CREW FOREMAN

    Total calculated
    $223,930
    From this org
    $168,662
    From related orgs
    $0
    Other
    $55,268
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $165,508
    Bonus
    $1,711
    Other
    $1,443
    Deferred
    $31,169
    Nontaxable benefits
    $24,099
    Filer's total
    $223,930

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 committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study

Answered no

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

The filer's explanations (Part III)

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. JEFFREY LANE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 129,931 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,706 TOTAL REPORTED IN COLUMN C $ 136,637 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (129,931) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 66,418 EXPENSE TO THE COOPERATIVE $ 73,124 THOMAS WATSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 132,234 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,052 TOTAL REPORTED IN COLUMN C $ 137,286 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (132,234) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,606 EXPENSE TO THE COOPERATIVE $ 54,658 RODNEY WESLEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 115,895 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,800 TOTAL REPORTED IN COLUMN C $ 119,695 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (115,895) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,690 EXPENSE TO THE COOPERATIVE $ 41,490 GARY SHERRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 83,915 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,107 TOTAL REPORTED IN COLUMN C $ 87,022 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (83,915) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,556 EXPENSE TO THE COOPERATIVE $ 33,663 DONNA WEAVER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,437 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,450 TOTAL REPORTED IN COLUMN C $ 60,887 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,437) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,966 EXPENSE TO THE COOPERATIVE $ 37,416 THOMAS DURDEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,376 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,100 TOTAL REPORTED IN COLUMN C $ 67,476 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (64,376) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,225 EXPENSE TO THE COOPERATIVE $ 33,325 RAYMOND CHOYCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,860 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 29,860 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,860) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,509 EXPENSE TO THE COOPERATIVE $ 21,509 BOBBI BYFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,880 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,412 TOTAL REPORTED IN COLUMN C $ 42,292 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,880) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,700 EXPENSE TO THE COOPERATIVE $ 36,112 SCOTT STEWART: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,868 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,544 TOTAL REPORTED IN COLUMN C $ 24,412 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,868) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,212 EXPENSE TO THE COOPERATIVE $ 27,756 ROBERT WHITE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,061 EMPLOYER CONTRIBUTION TO 401(K) PLAN 800 TOTAL REPORTED IN COLUMN C $ 12,861 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (12,061) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,606 EXPENSE TO THE COOPERATIVE $ 37,406 PHILLIP HARRISON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,035 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,066 TOTAL REPORTED IN COLUMN C $ 35,101 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,035) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,520 EXPENSE TO THE COOPERATIVE $ 33,586 TIMOTHY CRAIG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,679 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 42,679 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,679) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,285 EXPENSE TO THE COOPERATIVE $ 32,285 PAUL CAMACHO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,805 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,364 TOTAL REPORTED IN COLUMN C $ 31,169 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,805) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,519 EXPENSE TO THE COOPERATIVE $ 28,883 CHANCE FRANKS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,209 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,318 TOTAL REPORTED IN COLUMN C $ 16,527 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,209) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,698 EXPENSE TO THE COOPERATIVE $ 25,016 BRYAN HICKS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,665 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,313 TOTAL REPORTED IN COLUMN C $ 9,978 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,665) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,362 EXPENSE TO THE COOPERATIVE $ 22,675

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.

  • TVEC CHARITABLE FOUNDATION

    501(C)(3) · CHARITABLE GRANTS · TX · controlled entity

    Directly controlled by TRINITY VALLEY ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523219349304487

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