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Nonprofiteer
← SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$303,380,294
Total expenses
$296,925,436
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$300,642,526
Investment income
$1,459,161
Other revenue
$1,278,607
Total assets, end of year
$651,683,744
Total liabilities, end of year
$413,641,544
Net assets or fund balances, end of year
$238,042,200
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 AND DIST. OF ELECT.

    total $293,146,012 · related or exempt $293,146,012

  • 2b · Program service revenue: CONTRIB IN AID OF CONSTRUCT

    total $7,412,040 · related or exempt $7,412,040

  • 2c · Program service revenue: PATRONAGE ALLOC RECEIVED

    total $84,474 · related or exempt $84,474

  • 3 · Investment income

    total $1,516,313 · excluded $1,516,313

  • 6a · Gross rents

    personal property $1,426,821

  • 6b · Less rental expenses

    personal property $148,214

  • 6c · Rental income or loss

    personal property $1,278,607

  • 6d · Net rental income or loss

    total $1,278,607 · unrelated business $158,974 · excluded $1,119,633

  • 7a · Gross sales of assets other than inventory

    other assets $97,035

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

    other assets $154,187

  • 7c · Gain or loss

    other assets -$57,152

  • 7d · Net gain or loss

    total -$57,152 · excluded -$57,152

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $17,660,121

  • 5 · Compensation of officers, directors and key employees

    total $1,472,712

  • 7 · Other salaries and wages

    total $26,192,930

  • 8 · Pension plan contributions

    total $3,159,051

  • 10 · Payroll taxes

    total $2,168,100

  • 11b · Fees: legal

    total $710,251

  • 17 · Travel

    total $2,792,567

  • 19 · Conferences, conventions and meetings

    total $103,219

  • 20 · Interest

    total $11,738,395

  • 22 · Depreciation, depletion and amortization

    total $21,498,719

  • 24a · Other expenses: COST OF POWER

    total $195,299,488

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $12,453,068

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $6,498,026

  • 24d · Other expenses: ADMIN & GENERAL

    total $5,720,765

  • 24e · All other expenses

    total -$10,541,976

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,961,500 · end of year $12,242,115

  • 2 · Savings and temporary cash investments

    beginning of year $24,839,824 · end of year $14,814,777

  • 4 · Accounts receivable

    beginning of year $33,482,865 · end of year $36,101,990

  • 8 · Inventories for sale or use

    beginning of year $18,280,438 · end of year $25,572,783

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,385,032 · end of year $3,829,999

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

    $722,394,770

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

    $235,710,882

  • 10c · Land, buildings and equipment, net

    beginning of year $449,627,278 · end of year $486,683,888

  • 13 · Investments: program-related

    beginning of year $69,055,587 · end of year $71,435,123

  • 15 · Other assets

    beginning of year $950,222 · end of year $1,003,069

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,109,286 · end of year $24,567,718

  • 23 · Secured mortgages and notes payable

    beginning of year $361,371,103 · end of year $380,790,861

  • 25 · Other liabilities

    beginning of year $7,940,072 · end of year $8,282,965

  • 31 · Retained earnings, endowment or other funds

    beginning of year $223,162,285 · end of year $238,042,200

Mission and programs · 2024

Mission

PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES.

  • PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 195,299,488 OTHER SALARIES AND WAGES 26,192,930 DEPRECIATION EXPENSE 21,498,719

As filed on the 2024 return.

Listed in Part VII

  • Gregory S Rogers

    PRESIDENT &

    Total calculated
    $702,923
    From this org
    $593,071
    From related orgs
    $0
    Other
    $109,852
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $494,899
    Bonus
    $98,172
    Other
    not reported
    Deferred
    $92,000
    Nontaxable benefits
    $17,852
    Filer's total
    $702,923

  • Jonathan M Aulgur

    ASST SEC/TRE

    Total calculated
    $364,114
    From this org
    $315,230
    From related orgs
    $0
    Other
    $48,884
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $302,730
    Bonus
    $12,500
    Other
    not reported
    Deferred
    $44,949
    Nontaxable benefits
    $3,935
    Filer's total
    $364,114

  • Wayne D Hannah Jr

    VP & CIO

    Total calculated
    $345,288
    From this org
    $260,109
    From related orgs
    $0
    Other
    $85,179
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $250,309
    Bonus
    $9,800
    Other
    not reported
    Deferred
    $67,455
    Nontaxable benefits
    $17,724
    Filer's total
    $345,288

  • Jason E Burch

    VP ENGINEERI

    Total calculated
    $289,568
    From this org
    $235,252
    From related orgs
    $0
    Other
    $54,316
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $224,652
    Bonus
    $10,600
    Other
    not reported
    Deferred
    $35,799
    Nontaxable benefits
    $18,517
    Filer's total
    $289,568

  • Tracy McBride

    VP FINANCE

    Total calculated
    $272,548
    From this org
    $214,534
    From related orgs
    $0
    Other
    $58,014
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,134
    Bonus
    $8,400
    Other
    not reported
    Deferred
    $40,770
    Nontaxable benefits
    $17,244
    Filer's total
    $272,548

  • William E Rees

    DIR OPS SUP

    Total calculated
    $264,121
    From this org
    $195,080
    From related orgs
    $0
    Other
    $69,041
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $187,580
    Bonus
    $7,500
    Other
    not reported
    Deferred
    $52,003
    Nontaxable benefits
    $17,038
    Filer's total
    $264,121

  • Michael S Alexander

    LEAD LINEMAN

    Total calculated
    $250,983
    From this org
    $204,537
    From related orgs
    $0
    Other
    $46,446
    Hours/week
    58

    Schedule J breakdown matched by us

    Base
    $202,257
    Bonus
    $2,280
    Other
    not reported
    Deferred
    $35,315
    Nontaxable benefits
    $11,131
    Filer's total
    $250,983

  • Bill Orndoff

    DIRECTOR

    Total calculated
    $45,100
    From this org
    $45,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.35

  • Jr Dofflemyer

    CHAIR

    Total calculated
    $42,950
    From this org
    $42,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.19

  • Larry C Howdyshell

    DIRECTOR

    Total calculated
    $42,800
    From this org
    $42,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.63

  • Brent Arbogast

    SEC/TREAS

    Total calculated
    $41,825
    From this org
    $41,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Ca Helsley

    DIRECTOR

    Total calculated
    $40,600
    From this org
    $40,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.14

  • Stephen Burkholder

    DIRECTOR

    Total calculated
    $39,925
    From this org
    $39,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.62

  • Todd Van Horn

    VICE CHAIR

    Total calculated
    $39,375
    From this org
    $39,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.23

  • Suzanne Obenshain

    DIRECTOR

    Total calculated
    $38,900
    From this org
    $38,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.72

  • Robbie F Marchant

    DIRECTOR

    Total calculated
    $37,325
    From this org
    $37,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.77

  • Brian Plum

    DIRECTOR

    Total calculated
    $36,875
    From this org
    $36,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.98

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 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)

SCHEDULE J, PAGE 1, PART I, LINE 4
GREGORY S. ROGERS 0 23,000 0 WAYNE D. HANNAH, JR. 0 1,049 0
SCHEDULE J, PART III
CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR)UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) PLAN.

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
15 July 2025
IRS schema version
2024v5.0
Source object
202542869349301614

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