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Nonprofiteer
← CANADIAN VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by CANADIAN VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$81,861,027
Total expenses
$88,736,000
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$83,698,016
Investment income
$835,365
Other revenue
-$2,672,354
Total assets, end of year
$241,288,669
Total liabilities, end of year
$155,456,510
Net assets or fund balances, end of year
$85,832,159
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: SALES OF ELECTRIC ENERGY

    total $80,389,148 · related or exempt $80,389,148 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $2,609,805 · related or exempt $2,609,805 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $699,063 · related or exempt $699,063 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $835,365 · related or exempt $0 · unrelated business $391,186 · excluded $444,179

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $2,729,991 · personal property $205,773

  • 6b · Less rental expenses

    real property $9,126,617 · personal property $0

  • 6c · Rental income or loss

    real property -$6,396,626 · personal property $205,773

  • 6d · Net rental income or loss

    total -$6,190,853 · related or exempt $0 · unrelated business -$6,396,626 · excluded $205,773

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $46,903

  • 10b · Cost of goods sold

    $35,676

  • 10c · Net income from sales of inventory

    total $11,227 · related or exempt $0 · unrelated business $0 · excluded $11,227

  • 11a · Other revenue: MANAGEMENT FEES FROM CVEC FIBER

    total $2,169,272 · related or exempt $0 · unrelated business $2,169,272 · excluded $0

  • 11b · Other revenue: GRANTS FOR FIBER BUILDOUT

    total $1,338,000 · related or exempt $0 · unrelated business $1,338,000 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $3,507,272

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $5,532,412

  • 5 · Compensation of officers, directors and key employees

    total $943,853

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $4,004,015

  • 8 · Pension plan contributions

    total -$10,341

  • 9 · Other employee benefits

    total $747,597

  • 10 · Payroll taxes

    total $416,931

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $200,773

  • 11c · Fees: accounting

    total $119,382

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $2,957,308

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $166,338

  • 14 · Information technology

    total $753,828

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $145,403

  • 17 · Travel

    total $954,543

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $115,472

  • 20 · Interest

    total $6,146,077

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,380,536

  • 23 · Insurance

    total $2,025,383

  • 24a · Other expenses: COST OF ELECTRIC POWER

    total $54,483,905

  • 24b · Other expenses: TAXES

    total $1,616,242

  • 24c · Other expenses: TOOLS & LINES MATERIALS

    total $833,098

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $344,074

  • 24e · All other expenses

    total $859,171

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,000 · end of year $338,552

  • 2 · Savings and temporary cash investments

    beginning of year $80,888 · end of year $6,495

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $16,307,070 · end of year $14,289,731

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $12,349,755 · end of year $5,559,395

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,798 · end of year $34,835

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

    $239,145,787

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

    $68,953,781

  • 10c · Land, buildings and equipment, net

    beginning of year $151,924,921 · end of year $170,192,006

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $35,657,963 · end of year $41,360,476

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $11,662,702 · end of year $9,507,179

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,277,971 · end of year $9,919,577

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $130,891,192 · end of year $139,459,717

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,467,007 · end of year $6,077,216

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $80,380,927 · end of year $85,832,159

Mission and programs · 2024

Mission

TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS.

  • To provide retail electric utility service to cooperative members on a not-for-profit basis, primarily in rural areas.

As filed on the 2024 return.

Listed in Part VII

  • Jesse Snyder

    Board Trustee - Treasurer

    Total calculated
    $16,953
    From this org
    $16,953
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joe Semtner

    Board Trustee - President

    Total calculated
    $16,855
    From this org
    $16,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    18

  • Robert Schoenecke

    Board Trustee - Secretary

    Total calculated
    $16,735
    From this org
    $16,735
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Yates Adcock

    Board Trustee - Vice President

    Total calculated
    $14,500
    From this org
    $14,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Clayton Eads

    Board Trustee

    Total calculated
    $15,646
    From this org
    $15,646
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • JP Duvall

    Board Trustee

    Total calculated
    $12,913
    From this org
    $12,913
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Matt Goodson

    Board Trustee

    Total calculated
    $16,355
    From this org
    $16,355
    From related orgs
    $0
    Other
    $0
    Hours/week
    18

  • Steve Marak

    Board Trustee

    Total calculated
    $17,255
    From this org
    $17,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    18

  • Gary Highley

    CEO

    Total calculated
    $385,566
    From this org
    $315,628
    From related orgs
    $0
    Other
    $69,938
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $309,737
    Bonus
    $1,660
    Other
    $4,231
    Deferred
    $41,569
    Nontaxable benefits
    $28,369
    Filer's total
    $385,566

  • Jamie Scott

    Manager of Finance

    Total calculated
    $200,264
    From this org
    $152,464
    From related orgs
    $0
    Other
    $47,800
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $150,211
    Bonus
    $1,774
    Other
    $479
    Deferred
    $21,201
    Nontaxable benefits
    $26,599
    Filer's total
    $200,264

  • Josh Holt

    COO

    Total calculated
    $230,811
    From this org
    $178,934
    From related orgs
    $0
    Other
    $51,877
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $176,296
    Bonus
    $1,774
    Other
    $864
    Deferred
    $24,934
    Nontaxable benefits
    $26,943
    Filer's total
    $230,811

  • Don Pak

    Manager of IT

    Total calculated
    $188,787
    From this org
    $142,218
    From related orgs
    $0
    Other
    $46,569
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $139,403
    Bonus
    $1,774
    Other
    $1,041
    Deferred
    $20,064
    Nontaxable benefits
    $26,505
    Filer's total
    $188,787

  • Jake Smith

    Area Serviceman

    Total calculated
    $173,066
    From this org
    $136,806
    From related orgs
    $0
    Other
    $36,260
    Hours/week
    59

    Schedule J breakdown matched by us

    Base
    $134,936
    Bonus
    $1,774
    Other
    $96
    Deferred
    $10,749
    Nontaxable benefits
    $25,511
    Filer's total
    $173,066

  • Logan Azlin

    Area Serviceman

    Total calculated
    $186,913
    From this org
    $147,758
    From related orgs
    $0
    Other
    $39,155
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $145,765
    Bonus
    $1,774
    Other
    $219
    Deferred
    $13,310
    Nontaxable benefits
    $25,845
    Filer's total
    $186,913

  • Russell Pritchett

    GIS Supervisor

    Total calculated
    $194,650
    From this org
    $152,237
    From related orgs
    $0
    Other
    $42,413
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $113,489
    Bonus
    $1,774
    Other
    $36,974
    Deferred
    $16,198
    Nontaxable benefits
    $26,215
    Filer's total
    $194,650

  • Sheila Allgood

    General Manager of Broadband

    Total calculated
    $203,962
    From this org
    $161,899
    From related orgs
    $0
    Other
    $42,063
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $156,774
    Bonus
    $1,774
    Other
    $3,351
    Deferred
    $22,231
    Nontaxable benefits
    $19,832
    Filer's total
    $203,962

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 · Independent compensation consultant
  • 3 · Written employment contract
  • 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.

Related corporations and trusts

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

  • CVEC FIBER LLC

    C Corporation · FIBER · OK · 100% owned · share of income $11,759,912 · share of assets $13,114,473 · controlled entity

    Directly controlled by CVEC

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.1
Source object
202523179349309747

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