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Nonprofiteer
← GRAND VALLEY RURAL POWER LINES INC

Form 990 for tax year 2023

Filed by GRAND VALLEY RURAL POWER LINES INC.

Totals

Total revenue
$38,939,947
Total expenses
$38,939,947
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,840,444
Investment income
$99,503
Other revenue
$0
Total assets, end of year
$91,968,778
Total liabilities, end of year
$56,194,078
Net assets or fund balances, end of year
$35,774,700
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 of Energy

    total $38,282,970 · related or exempt $38,282,970

  • 2b · Program service revenue: Capital Credits

    total $393,280 · related or exempt $393,280

  • 2c · Program service revenue: Misc Service Revenue

    total $68,900 · related or exempt $68,900

  • 2d · Program service revenue: Joint Pole Use

    total $68,063 · excluded $68,063

  • 2e · Program service revenue: Other Service Revenue

    total $27,231 · excluded $27,231

  • 3 · Investment income

    total $99,503 · excluded $99,503

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,139,755

  • 5 · Compensation of officers, directors and key employees

    total $1,068,961

  • 7 · Other salaries and wages

    total $338,131

  • 20 · Interest

    total $1,858,586

  • 22 · Depreciation, depletion and amortization

    total $3,130,814

  • 24a · Other expenses: Purchased Power

    total $19,345,813 · program services $19,345,813

  • 24b · Other expenses: Distribution Expense

    total $4,143,775 · program services $4,143,775

  • 24c · Other expenses: Admin & General

    total $2,963,470 · program services $2,963,470

  • 24d · Other expenses: Member Service

    total $1,764,605 · program services $1,764,605

  • 24e · All other expenses

    total $1,186,037

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,557,981 · end of year $4,167,720

  • 2 · Savings and temporary cash investments

    beginning of year $1,500,000

  • 4 · Accounts receivable

    beginning of year $4,987,936 · end of year $5,043,002

  • 8 · Inventories for sale or use

    beginning of year $2,759,452 · end of year $2,525,384

  • 9 · Prepaid expenses and deferred charges

    beginning of year $967,300

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

    $114,300,549

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

    $36,594,570

  • 10c · Land, buildings and equipment, net

    beginning of year $75,793,618 · end of year $77,705,979

  • 12 · Investments: other securities

    beginning of year $2,250,945

  • 13 · Investments: program-related

    end of year $2,490,596

  • 15 · Other assets

    beginning of year $129,323 · end of year $36,097

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,615,525 · end of year $3,900,592

  • 19 · Deferred revenue

    beginning of year $1,148,892 · end of year $1,005,770

  • 23 · Secured mortgages and notes payable

    beginning of year $48,444,014 · end of year $46,043,001

  • 25 · Other liabilities

    beginning of year $4,863,033 · end of year $5,244,715

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

    beginning of year $136,082

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,739,009 · end of year $35,774,700

Mission and programs · 2023

Mission

Distribution of safe and reliable electricity to all our consumers while following our cooperative principals.

  • Distribution of electricity to retail customers on a cooperative basis.

As filed on the 2023 return.

Listed in Part VII

  • Thomas Walch

    CEO

    Total calculated
    $359,493
    From this org
    $318,956
    From related orgs
    $0
    Other
    $40,537
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $318,956
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,537
    Nontaxable benefits
    $18,000
    Filer's total
    $359,493

  • Matthew Williams

    COO

    Total calculated
    $223,482
    From this org
    $193,307
    From related orgs
    $0
    Other
    $30,175
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $193,307
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,575
    Nontaxable benefits
    $15,600
    Filer's total
    $223,482

  • Derek Elder

    CAO

    Total calculated
    $194,369
    From this org
    $163,979
    From related orgs
    $0
    Other
    $30,390
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,979
    Bonus
    not reported
    Other
    not reported
    Deferred
    $12,390
    Nontaxable benefits
    $18,000
    Filer's total
    $194,369

  • Joseph Michlaewicz

    CFO

    Total calculated
    $184,118
    From this org
    $156,310
    From related orgs
    $0
    Other
    $27,808
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,310
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,938
    Nontaxable benefits
    $15,870
    Filer's total
    $184,118

  • William Barlow

    Operations Manager

    Total calculated
    $170,743
    From this org
    $147,206
    From related orgs
    $0
    Other
    $23,537
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,206
    Bonus
    not reported
    Other
    not reported
    Deferred
    $10,650
    Nontaxable benefits
    $12,887
    Filer's total
    $170,743

  • Karen Allen

    Manager of IT

    Total calculated
    $167,388
    From this org
    $144,226
    From related orgs
    $0
    Other
    $23,162
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $144,226
    Bonus
    not reported
    Other
    not reported
    Deferred
    $10,275
    Nontaxable benefits
    $12,887
    Filer's total
    $167,388

  • Carolyn Sandeen-Hall

    Director

    Total calculated
    $14,600
    From this org
    $14,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Brian Woods

    Board SecretaryTreasury

    Total calculated
    $12,950
    From this org
    $12,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joseph Burtard

    Director

    Total calculated
    $11,950
    From this org
    $11,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Gary DeYoung

    Director

    Total calculated
    $11,700
    From this org
    $11,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kyle Coltrinari

    Director

    Total calculated
    $11,450
    From this org
    $11,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Janie VanWinkle

    Board President

    Total calculated
    $11,250
    From this org
    $11,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jesse Mease

    Board Vice President

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William F Rooks

    Director

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Don McClaskey

    Director

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Joseph Landini

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 · 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.

Provenance

Return type
form_990
Tax year
2023
Filed
16 May 2024
IRS schema version
2023v5.0
Source object
202441569349301319

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