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Nonprofiteer
← ARK VALLEY ELECTRIC COOPERATIVE ASSN INC

Form 990 for tax year 2023

Filed by ARK VALLEY ELECTRIC COOPERATIVE ASSN INC.

Totals

Total revenue
$14,366,383
Total expenses
$14,261,237
Contributions and grants received
$105,146
Grants paid
$0
Program service revenue
$14,004,438
Investment income
$227,272
Other revenue
$29,527
Total assets, end of year
$45,246,819
Total liabilities, end of year
$21,780,600
Net assets or fund balances, end of year
$23,466,219
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.

  • 1e · Government grants (contributions)

    $105,146

  • 2a · Program service revenue: Sale of Electricity

    total $13,835,213 · related or exempt $13,835,213

  • 2b · Program service revenue: Capital Credits

    total $141,017 · related or exempt $141,017

  • 2c · Program service revenue: Miscellaneous

    total $28,208 · related or exempt $28,208

  • 3 · Investment income

    total $227,272 · excluded $227,272

  • 6a · Gross rents

    personal property $23,600

  • 6c · Rental income or loss

    personal property $23,600

  • 6d · Net rental income or loss

    total $23,600 · excluded $23,600

  • 11a · Other revenue: Non-Operating

    total $5,927 · related or exempt $5,927

  • 11e · Other revenue, total

    $5,927

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,690,958

  • 5 · Compensation of officers, directors and key employees

    total $733,023

  • 7 · Other salaries and wages

    total $863,659

  • 20 · Interest

    total $679,084

  • 22 · Depreciation, depletion and amortization

    total $1,332,803

  • 24a · Other expenses: Cost of Power

    total $6,947,164 · program services $6,947,164

  • 24b · Other expenses: Distribution Expense

    total $1,632,276 · program services $1,632,276

  • 24c · Other expenses: Admin & General

    total $97,632 · program services $97,632

  • 24d · Other expenses: Member Services

    total $282,839 · program services $282,839

  • 24e · All other expenses

    total $1,799

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,147,361 · end of year $2,954,445

  • 2 · Savings and temporary cash investments

    beginning of year $2,100,000 · end of year $800,000

  • 4 · Accounts receivable

    beginning of year $1,593,434 · end of year $1,383,508

  • 8 · Inventories for sale or use

    beginning of year $942,857 · end of year $1,029,247

  • 9 · Prepaid expenses and deferred charges

    beginning of year $179,803 · end of year $160,479

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

    $47,023,955

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

    $13,467,177

  • 10c · Land, buildings and equipment, net

    beginning of year $33,365,493 · end of year $33,556,778

  • 13 · Investments: program-related

    beginning of year $5,245,267 · end of year $5,362,362

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,891,117 · end of year $2,788,336

  • 19 · Deferred revenue

    beginning of year $60,843 · end of year $96,617

  • 23 · Secured mortgages and notes payable

    beginning of year $19,615,930 · end of year $18,895,647

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,006,325 · end of year $23,466,219

Mission and programs · 2023

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 5,245 rural members. It operates 2,014 miles of overhead line and 49 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 2023 return.

Listed in Part VII

  • Jackie Holmberg

    General Manager

    Total calculated
    $266,289
    From this org
    $160,355
    From related orgs
    $0
    Other
    $105,934
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $160,355
    Bonus
    not reported
    Other
    not reported
    Deferred
    $81,604
    Nontaxable benefits
    $24,330
    Filer's total
    $266,289

  • Jim Sherry

    Director of Operations

    Total calculated
    $261,908
    From this org
    $155,244
    From related orgs
    $0
    Other
    $106,664
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $155,244
    Bonus
    not reported
    Other
    not reported
    Deferred
    $82,394
    Nontaxable benefits
    $24,270
    Filer's total
    $261,908

  • Justin Tankersley

    Line Foreman

    Total calculated
    $185,653
    From this org
    $123,678
    From related orgs
    $0
    Other
    $61,975
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $123,678
    Bonus
    not reported
    Other
    not reported
    Deferred
    $38,128
    Nontaxable benefits
    $23,847
    Filer's total
    $185,653

  • Ryan Walton

    Journeyman Lineman

    Total calculated
    $173,240
    From this org
    $119,246
    From related orgs
    $0
    Other
    $53,994
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $119,246
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,267
    Nontaxable benefits
    $23,727
    Filer's total
    $173,240

  • Aryn Walton

    Journeyman Lineman

    Total calculated
    $172,038
    From this org
    $121,279
    From related orgs
    $0
    Other
    $50,759
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $121,279
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,032
    Nontaxable benefits
    $23,727
    Filer's total
    $172,038

  • Garth Graham

    Journeyman Lineman

    Total calculated
    $167,225
    From this org
    $116,750
    From related orgs
    $0
    Other
    $50,475
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $116,750
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,748
    Nontaxable benefits
    $23,727
    Filer's total
    $167,225

  • Cameron Horesky

    Journeyman Lineman

    Total calculated
    $165,503
    From this org
    $114,518
    From related orgs
    $0
    Other
    $50,985
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $114,518
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,258
    Nontaxable benefits
    $23,727
    Filer's total
    $165,503

  • Penny Wood

    Office Manager

    Total calculated
    $165,476
    From this org
    $107,792
    From related orgs
    $0
    Other
    $57,684
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $107,792
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,122
    Nontaxable benefits
    $15,562
    Filer's total
    $165,476

  • Judy Kinsler

    Secretary

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Doug Barr

    Director

    Total calculated
    $5,800
    From this org
    $5,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Keith McNickle

    President

    Total calculated
    $5,700
    From this org
    $5,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jaime Howard

    Director

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Froese

    Treasurer

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Joseph Seiwert

    Director

    Total calculated
    $5,150
    From this org
    $5,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Schweizer

    Vice President

    Total calculated
    $4,650
    From this org
    $4,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Daniel Schnurr

    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
2023
Filed
20 September 2024
IRS schema version
2023v5.1
Source object
202402649349300935

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