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Nonprofiteer
← WABASH VALLEY POWER ASSOCIATION INC

Form 990 for tax year 2024

Filed by WABASH VALLEY POWER ASSOCIATION INC.

Totals

Total revenue
$805,631,891
Total expenses
$771,606,571
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$799,500,402
Investment income
$6,121,107
Other revenue
$10,382
Total assets, end of year
$1,704,142,884
Total liabilities, end of year
$1,369,839,966
Net assets or fund balances, end of year
$334,302,918
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: SALES OF ELECTRICITY

    total $754,471,112 · related or exempt $754,471,112

  • 2b · Program service revenue: SALES OF TRANS. & DIST

    total $23,739,821 · related or exempt $23,739,821

  • 2c · Program service revenue: EMISSION ALLOW. SALE

    total $15,418,780 · related or exempt $15,418,780

  • 2f · All other program service revenue

    total $5,870,689 · related or exempt $5,870,689

  • 3 · Investment income

    total $6,788,255 · excluded $6,788,255

  • 6a · Gross rents

    real property $10,382

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $10,382

  • 6d · Net rental income or loss

    total $10,382 · excluded $10,382

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

    other assets $667,148

  • 7c · Gain or loss

    other assets -$667,148

  • 7d · Net gain or loss

    total -$667,148 · related or exempt -$667,148

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,199,995

  • 7 · Other salaries and wages

    total $6,122,886

  • 9 · Other employee benefits

    total $2,927,215

  • 10 · Payroll taxes

    total $597,413

  • 11b · Fees: legal

    total $4,137,800

  • 11c · Fees: accounting

    total $192,633

  • 11g · Fees: other

    total $1,098,024

  • 12 · Advertising and promotion

    total $752,064

  • 13 · Office expenses

    total $5,160,664

  • 16 · Occupancy

    total $462,661

  • 17 · Travel

    total $191,529

  • 19 · Conferences, conventions and meetings

    total $361,141

  • 20 · Interest

    total $46,812,088

  • 22 · Depreciation, depletion and amortization

    total $63,431,442

  • 24a · Other expenses: PURCHASED POWER EXPENSE

    total $503,164,094

  • 24b · Other expenses: OP. & MAIN. EXPENSE

    total $72,159,955

  • 24c · Other expenses: FUEL EXPENSE

    total $59,002,403

  • 24e · All other expenses

    total $1,832,564

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $129,438,166 · end of year $187,175,498

  • 4 · Accounts receivable

    beginning of year $87,557,242 · end of year $110,594,780

  • 7 · Other notes and loans receivable

    beginning of year $1,696,945 · end of year $1,462,015

  • 8 · Inventories for sale or use

    beginning of year $23,837,666 · end of year $24,839,974

  • 9 · Prepaid expenses and deferred charges

    beginning of year $226,086,286 · end of year $237,511,896

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

    $1,833,737,554

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

    $716,286,365

  • 10c · Land, buildings and equipment, net

    beginning of year $1,069,730,965 · end of year $1,117,451,189

  • 12 · Investments: other securities

    beginning of year $21,698,536 · end of year $22,951,326

  • 15 · Other assets

    beginning of year $2,093,948 · end of year $2,156,206

  • 17 · Accounts payable and accrued expenses

    beginning of year $207,782,843 · end of year $222,381,319

  • 19 · Deferred revenue

    beginning of year $178,026,795 · end of year $226,480,163

  • 20 · Tax-exempt bond liabilities

    beginning of year $25,750,000 · end of year $23,750,000

  • 23 · Secured mortgages and notes payable

    beginning of year $846,017,651 · end of year $895,316,078

  • 25 · Other liabilities

    beginning of year $1,759,537 · end of year $1,912,406

  • 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 $30,000,000 · end of year $34,000,000

  • 31 · Retained earnings, endowment or other funds

    beginning of year $272,802,928 · end of year $300,302,918

Mission and programs · 2024

Mission

WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE WHICH EXISTS TO MEET THE COLLECTIVE NEEDS OF OUR MEMBER-OWNERS AND PROVIDE RELIABLE, STABLE, AND RESPONSIBLE ENERGY SOLUTIONS.

  • THE EXEMPT PURPOSE OF WABASH VALLEY POWER ASSOCIATION, INC. IS TO PROVIDE ELECTRICITY TO ITS MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Dennis Burton

    DIRECTOR/CHAIRMAN

    Total calculated
    $33,575
    From this org
    $33,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Douglas H Burnworth

    DIRECTOR/SECRETARY & TREASURER

    Total calculated
    $30,900
    From this org
    $30,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Kenneth D Denton

    DIRECTOR

    Total calculated
    $26,950
    From this org
    $26,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bart Nesius

    DIRECTOR/VICE CHAIRMAN

    Total calculated
    $25,100
    From this org
    $25,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tina Davis

    DIRECTOR

    Total calculated
    $21,550
    From this org
    $21,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • David Janney

    DIRECTOR

    Total calculated
    $21,250
    From this org
    $21,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Philip M Hayes

    DIRECTOR

    Total calculated
    $19,150
    From this org
    $19,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Shane Rasler

    DIRECTOR

    Total calculated
    $19,050
    From this org
    $19,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Noel Kendall

    DIRECTOR

    Total calculated
    $17,150
    From this org
    $17,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Anthony Fleming

    DIRECTOR

    Total calculated
    $16,700
    From this org
    $16,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Frank Kobilsek

    DIRECTOR

    Total calculated
    $16,450
    From this org
    $16,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Alan Schlagenhauf

    DIRECTOR

    Total calculated
    $15,350
    From this org
    $15,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Larry Jack

    DIRECTOR

    Total calculated
    $15,350
    From this org
    $15,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Charles Huebener

    DIRECTOR

    Total calculated
    $14,750
    From this org
    $14,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Rick Risley

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jon Rettinger

    DIRECTOR

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Matt Hession

    DIRECTOR

    Total calculated
    $12,500
    From this org
    $12,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jim Savage

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeffrey W Clem

    DIRECTOR (BEG 1/24)

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Clayton Daniel Gard Jr

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rodney Scherer

    DIRECTOR

    Total calculated
    $8,850
    From this org
    $8,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kevin Cox

    DIRECTOR

    Total calculated
    $8,550
    From this org
    $8,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kirk Alter

    DIRECTOR

    Total calculated
    $4,600
    From this org
    $4,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael P Conner

    DIRECTOR (THRU 1/24)

    Total calculated
    $0
    Hours/week
    2

  • Jeff Conrad

    PRESIDENT AND CEO

    Total calculated
    $892,054
    From this org
    $777,791
    From related orgs
    $0
    Other
    $114,263
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $726,685
    Bonus
    $0
    Other
    $51,106
    Deferred
    $83,983
    Nontaxable benefits
    $30,280
    Filer's total
    $892,054

  • Theresa Young

    COO

    Total calculated
    $382,878
    From this org
    $348,232
    From related orgs
    $0
    Other
    $34,646
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $304,165
    Bonus
    $1,417
    Other
    $42,650
    Deferred
    $6,845
    Nontaxable benefits
    $27,801
    Filer's total
    $382,878

  • Matthew Moore

    EXEC. VP, POWER SUPPLY

    Total calculated
    $381,112
    From this org
    $340,473
    From related orgs
    $0
    Other
    $40,639
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $323,085
    Bonus
    $8,694
    Other
    $8,694
    Deferred
    $6,479
    Nontaxable benefits
    $34,160
    Filer's total
    $381,112

  • Curtis Taylor

    EXEC. VP, TECHNOLOGY SERVICES

    Total calculated
    $340,957
    From this org
    $306,700
    From related orgs
    $0
    Other
    $34,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,382
    Bonus
    $8,694
    Other
    $53,624
    Deferred
    $6,003
    Nontaxable benefits
    $28,254
    Filer's total
    $340,957

  • Jeff Hume

    VP, STRAT. ELEC. & MEM. RELATIONS

    Total calculated
    $339,189
    From this org
    $305,577
    From related orgs
    $0
    Other
    $33,612
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $282,051
    Bonus
    $8,694
    Other
    $14,832
    Deferred
    $5,511
    Nontaxable benefits
    $28,101
    Filer's total
    $339,189

  • Vicki Gardner

    VP, MARKETING, COMM., & ADVOCACY

    Total calculated
    $239,342
    From this org
    $201,518
    From related orgs
    $0
    Other
    $37,824
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,695
    Bonus
    $8,694
    Other
    $10,129
    Deferred
    $3,976
    Nontaxable benefits
    $33,848
    Filer's total
    $239,342

  • Albert Taylor

    VP, GENERATION

    Total calculated
    $237,788
    From this org
    $219,624
    From related orgs
    $0
    Other
    $18,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,816
    Bonus
    $1,399
    Other
    $5,409
    Deferred
    $4,275
    Nontaxable benefits
    $13,889
    Filer's total
    $237,788

  • Richard Mullen

    DIRECTOR, FIELD OPERATIONS

    Total calculated
    $254,224
    From this org
    $218,355
    From related orgs
    $0
    Other
    $35,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,967
    Bonus
    $1,645
    Other
    $15,743
    Deferred
    $4,191
    Nontaxable benefits
    $31,678
    Filer's total
    $254,224

  • Spencer House

    DIRECTOR OF SYSTEM OPERATIONS

    Total calculated
    $240,479
    From this org
    $200,242
    From related orgs
    $0
    Other
    $40,237
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,249
    Bonus
    $1,393
    Other
    $2,600
    Deferred
    $4,111
    Nontaxable benefits
    $36,126
    Filer's total
    $240,479

  • Joan Soller

    DIRECTOR, RISK MGMT. & REG. AFFAIRS

    Total calculated
    $222,478
    From this org
    $188,043
    From related orgs
    $0
    Other
    $34,435
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,029
    Bonus
    $1,393
    Other
    $2,621
    Deferred
    $3,893
    Nontaxable benefits
    $30,542
    Filer's total
    $222,478

  • Chris Daniels

    EXEC. DIRECTOR OF ENGINEERING

    Total calculated
    $222,029
    From this org
    $184,633
    From related orgs
    $0
    Other
    $37,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,716
    Bonus
    $1,381
    Other
    $536
    Deferred
    $3,828
    Nontaxable benefits
    $33,568
    Filer's total
    $222,029

  • Nisha Harke

    SR. MGR., FINANCE & LENDER RELATIONS

    Total calculated
    $211,941
    From this org
    $173,703
    From related orgs
    $0
    Other
    $38,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,830
    Bonus
    $1,608
    Other
    $2,265
    Deferred
    $3,530
    Nontaxable benefits
    $34,708
    Filer's total
    $211,941

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO SUPPLEMENTAL NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR TO ANY LISTED PERSONS IN PART VII.

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.

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.

  • WABASH VALLEY ENERGY MARKETING INC

    C · POWER MARKETING · IN · 100% owned · share of income $1,197,189 · share of assets $7,374,924 · controlled entity

    Directly controlled by WABASH VALLEY POWER ASSOCIATION INC

Provenance

Return type
form_990
Tax year
2024
Filed
10 October 2025
IRS schema version
2024v5.2
Source object
202512839349301331

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