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← CANEY VALLEY ELECTRIC COOPERATIVE ASSOCIATION INC

Form 990 for tax year 2023

Filed by CANEY VALLEY ELECTRIC COOPERATIVE ASSOCIATION INC.

Totals

Total revenue
$9,833,263
Total expenses
$9,833,263
Contributions and grants received
$0
Grants paid
$9,250
Program service revenue
$9,744,265
Investment income
$72,745
Other revenue
$16,253
Total assets, end of year
$33,018,468
Total liabilities, end of year
$16,024,249
Net assets or fund balances, end of year
$16,994,219
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 $9,577,425 · related or exempt $9,577,425

  • 2b · Program service revenue: Capital Credits

    total $123,291 · related or exempt $123,291

  • 2c · Program service revenue: Miscellaneous

    total $43,549 · related or exempt $43,549

  • 3 · Investment income

    total $72,745 · excluded $72,745

  • 6a · Gross rents

    personal property $14,462

  • 6c · Rental income or loss

    personal property $14,462

  • 6d · Net rental income or loss

    total $14,462 · excluded $14,462

  • 11a · Other revenue: Other Non-Operating

    total $1,791 · related or exempt $1,791

  • 11e · Other revenue, total

    $1,791

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $9,250

  • 4 · Benefits paid to or for members

    total $269,409

  • 5 · Compensation of officers, directors and key employees

    total $343,141

  • 7 · Other salaries and wages

    total $160,200

  • 20 · Interest

    total $520,398

  • 22 · Depreciation, depletion and amortization

    total $882,902

  • 24a · Other expenses: Cost of Power

    total $4,909,198 · program services $4,909,198

  • 24b · Other expenses: Distribution

    total $1,846,759 · program services $1,846,759

  • 24c · Other expenses: Admin & General

    total $570,910 · program services $570,910

  • 24d · Other expenses: Member Service

    total $321,096 · program services $321,096

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,139,609 · end of year $698,551

  • 2 · Savings and temporary cash investments

    end of year $1,000,000

  • 4 · Accounts receivable

    beginning of year $1,341,986 · end of year $542,782

  • 8 · Inventories for sale or use

    beginning of year $413,661 · end of year $456,849

  • 9 · Prepaid expenses and deferred charges

    beginning of year $474,165 · end of year $1,188,911

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

    $35,845,790

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

    $10,735,936

  • 10c · Land, buildings and equipment, net

    beginning of year $24,138,302 · end of year $25,109,854

  • 13 · Investments: program-related

    beginning of year $3,935,017 · end of year $4,021,521

  • 17 · Accounts payable and accrued expenses

    beginning of year $994,961 · end of year $958,979

  • 19 · Deferred revenue

    beginning of year $191,586 · end of year $234,475

  • 23 · Secured mortgages and notes payable

    beginning of year $15,403,843 · end of year $14,830,795

  • 29 · Capital stock, trust principal or current funds

    beginning of year $19,502 · end of year $19,492

  • 31 · Retained earnings, endowment or other funds

    beginning of year $16,832,848 · end of year $16,974,727

Mission and programs · 2023

Mission

It is our mission to safely and economically provide reliable energy and other services that bring value to our membership.

  • Provide electric energy to approximately 5,253 consumer members located in all or parts of five counties. These counties inclued all the towns and rural areas in Chautauqua County, all the rural areas in most of Elk County, the eastern half of Cowley County, and a small part of Butler and Montgomery Counties. The Cooperative operates on a total of 1,788 miles of transmission and distribution line.

As filed on the 2023 return.

Listed in Part VII

  • Allen A Zadorozny

    General Manager

    Total calculated
    $172,600
    From this org
    $144,751
    From related orgs
    $0
    Other
    $27,849
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,751
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,247
    Nontaxable benefits
    $11,602
    Filer's total
    $172,600

  • Gary C Lampson

    Line Supervisor

    Total calculated
    $160,200
    From this org
    $125,455
    From related orgs
    $0
    Other
    $34,745
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,455
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,977
    Nontaxable benefits
    $19,768
    Filer's total
    $160,200

  • Katherine M Sweaney

    AcctgHR Manager

    Total calculated
    $125,841
    From this org
    $100,780
    From related orgs
    $0
    Other
    $25,061
    Hours/week
    40

  • Chris Kelly

    Director

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Charles McMillan

    Director

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stephanie Ollenborger

    Director

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Warburton

    Director

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Clark

    Director

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Carl Clapp III

    Director

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dan Hubert

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alex Fulsom

    Director

    Total calculated
    $3,300
    From this org
    $3,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Barry Speer

    Director

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Donald Land

    Director

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

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

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
2023
Filed
17 September 2024
IRS schema version
2023v5.1
Source object
202402619349300145

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