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Nonprofiteer
← ARK VALLEY ELECTRIC COOPERATIVE ASSN INC

Form 990 for tax year 2022

Filed by ARK VALLEY ELECTRIC COOPERATIVE ASSN INC.

Totals

Total revenue
$15,570,728
Total expenses
$15,570,728
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,444,928
Investment income
$103,411
Other revenue
$22,389
Total assets, end of year
$45,574,215
Total liabilities, end of year
$22,567,890
Net assets or fund balances, end of year
$23,006,325
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 ELECTRICITY

    total $15,293,261 · related or exempt $15,293,261

  • 2b · Program service revenue: CAPITAL CREDITS

    total $113,931 · related or exempt $113,931

  • 2c · Program service revenue: MISCELLANEOUS ELECTRIC

    total $37,736 · related or exempt $37,736

  • 3 · Investment income

    total $103,411 · excluded $103,411

  • 6a · Gross rents

    personal property $23,873

  • 6c · Rental income or loss

    personal property $23,873

  • 6d · Net rental income or loss

    total $23,873 · excluded $23,873

  • 11a · Other revenue: MISC NON-OPERATING

    total -$1,484 · related or exempt -$1,484

  • 11e · Other revenue, total

    -$1,484

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,965,668

  • 5 · Compensation of officers, directors and key employees

    total $477,318

  • 7 · Other salaries and wages

    total $987,392

  • 20 · Interest

    total $627,666

  • 22 · Depreciation, depletion and amortization

    total $1,297,820

  • 24a · Other expenses: COST OF POWER

    total $8,395,730

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,423,105

  • 24c · Other expenses: ADMIN & GENERAL

    total $262,176

  • 24d · Other expenses: MEMBER SERVICES

    total $125,522

  • 24e · All other expenses

    total $8,331

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,085,571 · end of year $2,147,361

  • 2 · Savings and temporary cash investments

    end of year $2,100,000

  • 4 · Accounts receivable

    beginning of year $1,559,232 · end of year $1,593,434

  • 8 · Inventories for sale or use

    beginning of year $499,530 · end of year $942,857

  • 9 · Prepaid expenses and deferred charges

    beginning of year $242,525 · end of year $179,803

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

    $45,878,548

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

    $12,513,055

  • 10c · Land, buildings and equipment, net

    beginning of year $33,096,209 · end of year $33,365,493

  • 13 · Investments: program-related

    beginning of year $5,178,579 · end of year $5,245,267

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,988,054 · end of year $2,891,117

  • 19 · Deferred revenue

    beginning of year $123,657 · end of year $60,843

  • 23 · Secured mortgages and notes payable

    beginning of year $20,330,790 · end of year $19,615,930

  • 31 · Retained earnings, endowment or other funds

    beginning of year $22,219,145 · end of year $23,006,325

Mission and programs · 2022

Mission

THE ARK VALLEY ELECTRIC COOPERATIVE ASSOCIATION, INC., IS DEDICATED TO PROVIDING SAFE, RELIABLE, HIGH QUALITY ELECTRIC ENERGY TO ITS MEMBERS AT THE LOWEST COST, WHILE STRIVING TO IMPROVE THE QUALITY OF LIFE FOR ALL ITS MEMBERS AND ADHERING TO COOPERATIVE PRINCIPLES.

  • ARK VALLEY ELECTRIC COOPERATIVE DISTRIBUTES ELECTRICITY TO 5,228 RURAL MEMBERS. IT OPERATES 2,050 MILES OF OVERHEAD LINE AND 46 MILES OF UNDERGROUND DISTRIBUTION LINES. THE COOPERATIVE IS A VOLUNTARY ORGANIZATION OPEN TO ALL WHO ARE ABLE TO USE ITS SERVICES. IT IS CONTROLLED BY MEMBERS WITH ONE VOTE PER MEMBER. THE MARGINS BEYOND THOSE NECESSARY TO PAY EXPENSES ARE CREDITED BACK TO THE MEMBERS THROUGH CAPITAL ALLOCATIONS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jackie Holmberg

    GENERAL MANA

    Total calculated
    $278,371
    From this org
    $154,382
    From related orgs
    $0
    Other
    $123,989
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $154,382
    Bonus
    not reported
    Other
    not reported
    Deferred
    $100,291
    Nontaxable benefits
    $23,698
    Filer's total
    $278,371

  • Jim Sherry

    DIRECTOR OF

    Total calculated
    $271,368
    From this org
    $145,650
    From related orgs
    $0
    Other
    $125,718
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,650
    Bonus
    not reported
    Other
    not reported
    Deferred
    $102,075
    Nontaxable benefits
    $23,643
    Filer's total
    $271,368

  • Justin Tankersley

    LINE FOREMAN

    Total calculated
    $194,202
    From this org
    $119,078
    From related orgs
    $0
    Other
    $75,124
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $119,078
    Bonus
    not reported
    Other
    not reported
    Deferred
    $51,903
    Nontaxable benefits
    $23,221
    Filer's total
    $194,202

  • Aryn Walton

    JOURNEYMAN L

    Total calculated
    $175,749
    From this org
    $116,550
    From related orgs
    $0
    Other
    $59,199
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $116,550
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,103
    Nontaxable benefits
    $23,096
    Filer's total
    $175,749

  • Ryan Walton

    JOURNEYMAN L

    Total calculated
    $175,466
    From this org
    $111,317
    From related orgs
    $0
    Other
    $64,149
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $111,317
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,053
    Nontaxable benefits
    $23,096
    Filer's total
    $175,466

  • Cameron Horesky

    JOURNEYMAN L

    Total calculated
    $170,607
    From this org
    $111,890
    From related orgs
    $0
    Other
    $58,717
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $111,890
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,510
    Nontaxable benefits
    $23,207
    Filer's total
    $170,607

  • Penny Wood

    OFFICE MANAG

    Total calculated
    $167,797
    From this org
    $102,960
    From related orgs
    $0
    Other
    $64,837
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $102,960
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,681
    Nontaxable benefits
    $15,156
    Filer's total
    $167,797

  • Jaime Howard

    DIRECTOR

    Total calculated
    $4,950
    From this org
    $4,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Froese

    TREASURER

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Keith McNickle

    PRESIDENT

    Total calculated
    $4,700
    From this org
    $4,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Daniel Schnurr

    VICE PRESIDE

    Total calculated
    $3,950
    From this org
    $3,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joseph Seiwert

    DIRECTOR

    Total calculated
    $3,850
    From this org
    $3,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Judy Kinsler

    SECRETARY

    Total calculated
    $3,250
    From this org
    $3,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Timothy Bergkamp

    DIRECTOR

    Total calculated
    $2,650
    From this org
    $2,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Schweizer

    DIRECTOR

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Budd Fountain

    DIRECTOR

    Total calculated
    $1,000
    From this org
    $1,000
    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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
2022
Filed
10 August 2023
IRS schema version
2022v5.0
Source object
202322229349300637

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