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Nonprofiteer
← LOWER VALLEY ENERGY INC

Form 990 for tax year 2024

Filed by LOWER VALLEY ENERGY INC.

Totals

Total revenue
$80,234,390
Total expenses
$73,909,980
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,570,837
Investment income
$567,579
Other revenue
$95,974
Total assets, end of year
$318,743,205
Total liabilities, end of year
$200,194,931
Net assets or fund balances, end of year
$118,548,274
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$73,909,980

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: Retail Sales of Energy

    total $74,212,227 · related or exempt $74,212,227

  • 2b · Program service revenue: Service Related Revenue

    total $221,960 · related or exempt $221,960

  • 2c · Program service revenue: Patronage Capital

    total $221,173 · related or exempt $221,173

  • 2d · Program service revenue: Rental Income

    total $3,975,853 · related or exempt $3,799,346 · excluded $176,507

  • 2e · Program service revenue: Other Non-Operating

    total $645,309 · related or exempt $645,309

  • 2f · All other program service revenue

    total $294,315 · related or exempt $294,315

  • 3 · Investment income

    total $567,579 · excluded $567,579

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Gain on Disp of Propert

    total $95,974 · related or exempt $95,974

  • 11e · Other revenue, total

    $95,974

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,187,138

  • 5 · Compensation of officers, directors and key employees

    total $1,101,033

  • 7 · Other salaries and wages

    total $8,810,723

  • 8 · Pension plan contributions

    total $1,814,279

  • 9 · Other employee benefits

    total $1,660,938

  • 10 · Payroll taxes

    total $819,691

  • 11b · Fees: legal

    total $90,342

  • 11c · Fees: accounting

    total $48,570

  • 20 · Interest

    total $7,262,025

  • 22 · Depreciation, depletion and amortization

    total $7,483,404

  • 23 · Insurance

    total $633,536

  • 24a · Other expenses: Purchased Power & Gas

    total $36,330,798 · program services $36,330,798

  • 24b · Other expenses: Transmission O&M

    total $4,181,600 · program services $4,181,600

  • 24c · Other expenses: Distribution O&M

    total $1,981,822 · program services $1,981,822

  • 24d · Other expenses: Administrative & General

    total $2,339,919 · program services $2,339,919

  • 24e · All other expenses

    total -$2,835,838

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,436,454 · end of year $2,467,984

  • 2 · Savings and temporary cash investments

    beginning of year $594,217 · end of year $580,957

  • 4 · Accounts receivable

    beginning of year $7,911,570 · end of year $9,697,056

  • 7 · Other notes and loans receivable

    beginning of year $984,370 · end of year $1,083,649

  • 8 · Inventories for sale or use

    beginning of year $10,973,343 · end of year $13,945,793

  • 9 · Prepaid expenses and deferred charges

    beginning of year $69,457,694 · end of year $56,650,419

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

    $287,231,210

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

    $144,668,427

  • 10c · Land, buildings and equipment, net

    beginning of year $140,018,612 · end of year $142,562,783

  • 12 · Investments: other securities

    beginning of year $8,968,290 · end of year $9,107,635

  • 15 · Other assets

    beginning of year $84,582,889 · end of year $82,646,929

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,437,382 · end of year $5,905,449

  • 23 · Secured mortgages and notes payable

    beginning of year $184,463,433 · end of year $170,048,016

  • 25 · Other liabilities

    beginning of year $22,980,915 · end of year $24,241,466

  • 31 · Retained earnings, endowment or other funds

    beginning of year $111,045,709 · end of year $118,548,274

Mission and programs · 2024

Mission

The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis.

  • During the year, the cooperative provided electricity and natural gas utility service to its members.

    Expenses $73,909,980 · Revenue $80,234,390

As filed on the 2024 return.

Listed in Part VII

  • James R Webb

    PresidentChief Executive Officer

    Total calculated
    $494,166
    From this org
    $440,280
    From related orgs
    $0
    Other
    $53,886
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $300,979
    Bonus
    $135,000
    Other
    $4,301
    Deferred
    $27,357
    Nontaxable benefits
    $26,529
    Filer's total
    $494,166

  • Richard Knori

    Director of Engineering

    Total calculated
    $319,137
    From this org
    $274,506
    From related orgs
    $0
    Other
    $44,631
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $199,215
    Bonus
    $70,000
    Other
    $5,291
    Deferred
    $18,354
    Nontaxable benefits
    $26,277
    Filer's total
    $319,137

  • Craig Coles

    Director of Gas Operations

    Total calculated
    $281,744
    From this org
    $190,924
    From related orgs
    $0
    Other
    $90,820
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $167,181
    Bonus
    $22,000
    Other
    $1,743
    Deferred
    $57,868
    Nontaxable benefits
    $32,952
    Filer's total
    $281,744

  • Mallory Winters

    Electric Foreman

    Total calculated
    $274,354
    From this org
    $186,984
    From related orgs
    $0
    Other
    $87,370
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $166,893
    Bonus
    $16,000
    Other
    $4,091
    Deferred
    $61,199
    Nontaxable benefits
    $26,171
    Filer's total
    $274,354

  • Jon Hougland

    Staff Assistant

    Total calculated
    $245,588
    From this org
    $196,285
    From related orgs
    $0
    Other
    $49,303
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $175,675
    Bonus
    $17,000
    Other
    $3,610
    Deferred
    $35,726
    Nontaxable benefits
    $13,577
    Filer's total
    $245,588

  • Preston Conte

    Journeyman Lineman

    Total calculated
    $242,706
    From this org
    $167,720
    From related orgs
    $0
    Other
    $74,986
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $163,111
    Bonus
    $2,211
    Other
    $2,398
    Deferred
    $42,357
    Nontaxable benefits
    $32,629
    Filer's total
    $242,706

  • Larry Bowlin

    Foreman

    Total calculated
    $216,446
    From this org
    $165,727
    From related orgs
    $0
    Other
    $50,719
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $158,736
    Bonus
    $5,000
    Other
    $1,991
    Deferred
    $48,849
    Nontaxable benefits
    $1,870
    Filer's total
    $216,446

  • Anna Helm

    Finance Manager

    Total calculated
    $198,156
    From this org
    $123,170
    From related orgs
    $0
    Other
    $74,986
    Hours/week
    50

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $109,772
    Bonus
    $11,000
    Other
    $2,398
    Deferred
    $42,357
    Nontaxable benefits
    $32,629
    Filer's total
    $198,156

  • Ray Elser

    SecretaryTreasurerDirector

    Total calculated
    $29,775
    From this org
    $29,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Nancy Winters

    Director

    Total calculated
    $24,500
    From this org
    $24,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Max Moran

    Director

    Total calculated
    $24,350
    From this org
    $24,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bob McLaurin

    Director

    Total calculated
    $23,900
    From this org
    $23,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dan Dockstader

    ChairmanDirector

    Total calculated
    $21,200
    From this org
    $21,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Fred Brog

    Director

    Total calculated
    $21,100
    From this org
    $21,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ted Ladd

    Vice-ChairDirector

    Total calculated
    $18,300
    From this org
    $18,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Health or social club dues or initiation fees
  • 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
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202523109349300547

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