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Nonprofiteer
← GARDEN VALLEY TELEPHONE COMPANY

Form 990 for tax year 2023

Filed by GARDEN VALLEY TELEPHONE COMPANY.

Totals

Total revenue
$44,341,220
Total expenses
$42,862,223
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,575,697
Investment income
$1,758,284
Other revenue
$7,239
Total assets, end of year
$119,454,426
Total liabilities, end of year
$34,436,022
Net assets or fund balances, end of year
$85,018,404
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 $42,370,415 · related or exempt $42,370,415

  • 2b · Program service revenue: PARTNERSHIP INCOME

    total $202,881 · related or exempt $202,881

  • 2c · Program service revenue: ADVERTISING

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

  • 3 · Investment income

    total $284,642 · excluded $284,642

  • 6a · Gross rents

    real property $15,395

  • 6b · Less rental expenses

    real property $8,156

  • 6c · Rental income or loss

    real property $7,239

  • 6d · Net rental income or loss

    total $7,239 · unrelated business $7,239

  • 7a · Gross sales of assets other than inventory

    securities $1,498,349

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

    securities $24,707

  • 7c · Gain or loss

    securities $1,473,642

  • 7d · Net gain or loss

    total $1,473,642 · related or exempt $1,473,642

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,995,623

  • 5 · Compensation of officers, directors and key employees

    total $775,386

  • 7 · Other salaries and wages

    total $8,525,698

  • 8 · Pension plan contributions

    total $2,391,183

  • 11b · Fees: legal

    total $31,766

  • 11c · Fees: accounting

    total $47,973

  • 20 · Interest

    total $638,878

  • 22 · Depreciation, depletion and amortization

    total $6,721,419

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

    total $7,640,477

  • 24b · Other expenses: ACCESS, PROGRAMMING AND

    total $4,791,449

  • 24c · Other expenses: CUSTOMER

    total $1,979,647

  • 24d · Other expenses: CORPORATE

    total $1,124,849

  • 24e · All other expenses

    total $197,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,275,338 · end of year $9,528,300

  • 2 · Savings and temporary cash investments

    beginning of year $40 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $657,674 · end of year $1,370,959

  • 4 · Accounts receivable

    beginning of year $3,162,762 · end of year $3,619,080

  • 8 · Inventories for sale or use

    beginning of year $1,403,518 · end of year $1,854,273

  • 9 · Prepaid expenses and deferred charges

    beginning of year $226,187 · end of year $121,756

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

    $159,387,332

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

    $74,900,965

  • 10c · Land, buildings and equipment, net

    beginning of year $77,584,084 · end of year $84,486,367

  • 11 · Investments: publicly traded securities

    beginning of year $5,273,936 · end of year $3,904,210

  • 12 · Investments: other securities

    beginning of year $2,701,568 · end of year $2,766,250

  • 14 · Intangible assets

    beginning of year $25,997 · end of year $989

  • 15 · Other assets

    beginning of year $19,423,650 · end of year $11,802,242

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,593,005 · end of year $2,262,453

  • 23 · Secured mortgages and notes payable

    beginning of year $31,191,134 · end of year $29,418,439

  • 25 · Other liabilities

    beginning of year $2,698,548 · end of year $2,755,130

  • 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 $75,327,645 · end of year $76,956,635

  • 31 · Retained earnings, endowment or other funds

    beginning of year $7,924,422 · end of year $8,061,769

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Allen Paulson

    SECRETARY

    Total calculated
    $13,322
    From this org
    $13,322
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Ferden

    VICE PRESIDENT

    Total calculated
    $13,823
    From this org
    $13,823
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Arlene Novak

    PRESIDENT

    Total calculated
    $13,369
    From this org
    $13,369
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • James Devries

    DIRECTOR

    Total calculated
    $12,742
    From this org
    $12,742
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Leland Hoaas

    TREASURER

    Total calculated
    $12,088
    From this org
    $12,088
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Byron Ness

    DIRECTOR

    Total calculated
    $11,912
    From this org
    $11,912
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ronald Kiesow

    DIRECTOR

    Total calculated
    $11,183
    From this org
    $11,183
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Larry Djernes

    DIRECTOR

    Total calculated
    $11,295
    From this org
    $11,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Casey Holland

    DIRECTOR

    Total calculated
    $8,800
    From this org
    $8,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Timothy Brinkman

    CEO/GENERAL MANAGER

    Total calculated
    $442,824
    From this org
    $327,873
    From related orgs
    $0
    Other
    $114,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,873
    Bonus
    $0
    Other
    $0
    Deferred
    $90,969
    Nontaxable benefits
    $23,982
    Filer's total
    $442,824

  • Steve Mueller

    CHIEF FINANCIAL OFFICER

    Total calculated
    $224,028
    From this org
    $169,716
    From related orgs
    $0
    Other
    $54,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,716
    Bonus
    $0
    Other
    $0
    Deferred
    $45,821
    Nontaxable benefits
    $8,491
    Filer's total
    $224,028

  • Jon Smith

    CHIEF FACILITIES OFFICER

    Total calculated
    $218,555
    From this org
    $154,506
    From related orgs
    $0
    Other
    $64,049
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,506
    Bonus
    $0
    Other
    $0
    Deferred
    $43,419
    Nontaxable benefits
    $20,630
    Filer's total
    $218,555

  • Brian Grunhovd

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $196,543
    From this org
    $136,438
    From related orgs
    $0
    Other
    $60,105
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,438
    Bonus
    $0
    Other
    $0
    Deferred
    $39,475
    Nontaxable benefits
    $20,630
    Filer's total
    $196,543

  • Heidi Haaven

    CHIEF MARKETING OFFICER

    Total calculated
    $191,114
    From this org
    $138,089
    From related orgs
    $0
    Other
    $53,025
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,089
    Bonus
    $0
    Other
    $0
    Deferred
    $39,046
    Nontaxable benefits
    $13,979
    Filer's total
    $191,114

  • Sue Rasmussen

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $193,873
    From this org
    $139,440
    From related orgs
    $0
    Other
    $54,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,440
    Bonus
    $0
    Other
    $0
    Deferred
    $39,350
    Nontaxable benefits
    $15,083
    Filer's total
    $193,873

  • Laurie Ramsey

    SERVICE OFC. SUPERVISOR

    Total calculated
    $165,831
    From this org
    $113,336
    From related orgs
    $0
    Other
    $52,495
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,336
    Bonus
    $0
    Other
    $0
    Deferred
    $31,865
    Nontaxable benefits
    $20,630
    Filer's total
    $165,831

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 $0 · assets $299,305

    Directly controlled by GARDEN VALLEY TELEPHONE COMPANY

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202422779349301017

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