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Nonprofiteer
← SULPHUR SPRINGS VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SULPHUR SPRINGS VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$139,123,621
Total expenses
$138,668,407
Contributions and grants received
$0
Grants paid
$277,828
Program service revenue
$137,761,938
Investment income
$294,791
Other revenue
$1,066,892
Total assets, end of year
$332,643,442
Total liabilities, end of year
$169,176,919
Net assets or fund balances, end of year
$163,466,523
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Listed in Part VII

  • KATHRYN THATCHER

    DIRECTOR

    Total calculated
    $29,112
    From this org
    $29,112
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6 + 1 related

  • CURTIS NOLAN

    PRESIDENT

    Total calculated
    $40,603
    From this org
    $40,603
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8 + 1 related

  • PAT ENGLISH

    DIRECTOR

    Total calculated
    $18,425
    From this org
    $18,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related

  • THOMAS GOODMAN

    DIRECTOR

    Total calculated
    $28,750
    From this org
    $28,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4 + 1 related

  • DAN BARRERA

    SECRETARY

    Total calculated
    $31,875
    From this org
    $31,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3 + 1 related

  • RANDY REDMOND

    VICE PRESIDENT

    Total calculated
    $30,578
    From this org
    $30,578
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1 + 1 related

  • JOSEPH BEAM

    TREASURER

    Total calculated
    $33,112
    From this org
    $33,112
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6 + 1 related

  • DAVID KELSO

    DIRECTOR

    Total calculated
    $36,287
    From this org
    $36,287
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1 + 1 related

  • CLIFFORD LEX HERRON

    DIRECTOR

    Total calculated
    $32,238
    From this org
    $32,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1 + 1 related

  • RUSSELL MCNEIL

    DIRECTOR (APR-DEC)

    Total calculated
    $22,875
    From this org
    $22,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1 + 1 related

  • CREDEN HUBER

    CHIEF EXECUTIVE OFFICER (JAN-MAY)

    Total calculated
    $692,285
    From this org
    $484,420
    From related orgs
    $0
    Other
    $207,865
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,521
    Bonus
    $0
    Other
    $277,899
    Deferred
    $187,106
    Nontaxable benefits
    $20,759
    Filer's total
    $692,285

  • JASON BOWLING

    CHIEF EXECUTIVE OFFICER (MAY-DEC)

    Total calculated
    $432,452
    From this org
    $302,449
    From related orgs
    $0
    Other
    $130,003
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $264,070
    Bonus
    $150
    Other
    $38,229
    Deferred
    $105,344
    Nontaxable benefits
    $24,659
    Filer's total
    $432,452

  • JACK BLAIR

    VICE PRESIDENT MEMBER SERVICES

    Total calculated
    $351,293
    From this org
    $251,686
    From related orgs
    $0
    Other
    $99,607
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $211,777
    Bonus
    $600
    Other
    $39,309
    Deferred
    $85,231
    Nontaxable benefits
    $14,376
    Filer's total
    $351,293

  • REBECCA BUKSH

    VICE PRESIDENT HUMAN RESOURCES

    Total calculated
    $162,107
    From this org
    $101,416
    From related orgs
    $0
    Other
    $60,691
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $100,685
    Bonus
    $450
    Other
    $281
    Deferred
    $36,230
    Nontaxable benefits
    $24,461
    Filer's total
    $162,107

  • ORSON GARNSEY

    VICE PRESIDENT INFORMATION TECHNOLOGY

    Total calculated
    $283,190
    From this org
    $196,209
    From related orgs
    $0
    Other
    $86,981
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $194,493
    Bonus
    $350
    Other
    $1,366
    Deferred
    $79,660
    Nontaxable benefits
    $7,321
    Filer's total
    $283,190

  • RON LEE

    VICE PRESIDENT FINANCE

    Total calculated
    $280,013
    From this org
    $185,342
    From related orgs
    $0
    Other
    $94,671
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $183,035
    Bonus
    $450
    Other
    $1,857
    Deferred
    $83,916
    Nontaxable benefits
    $10,755
    Filer's total
    $280,013

  • ANDREA TYNDALL

    VICE PRESIDENT STRATEGY & COMPLIANCE

    Total calculated
    $202,451
    From this org
    $131,861
    From related orgs
    $0
    Other
    $70,590
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $126,811
    Bonus
    $250
    Other
    $4,800
    Deferred
    $52,719
    Nontaxable benefits
    $17,871
    Filer's total
    $202,451

  • DANIEL WILSON

    SENIOR VICE PRESIDENT OPERATIONS

    Total calculated
    $313,403
    From this org
    $226,773
    From related orgs
    $0
    Other
    $86,630
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $208,446
    Bonus
    $400
    Other
    $17,927
    Deferred
    $61,993
    Nontaxable benefits
    $24,637
    Filer's total
    $313,403

  • NATHAN HODGES

    VICE PRESIDENT OPERATIONS

    Total calculated
    $320,573
    From this org
    $202,794
    From related orgs
    $0
    Other
    $117,779
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $185,159
    Bonus
    $450
    Other
    $17,185
    Deferred
    $104,171
    Nontaxable benefits
    $13,608
    Filer's total
    $320,573

  • JESUS MORENO

    VICE PRESIDENT ENGINEERING

    Total calculated
    $222,810
    From this org
    $159,499
    From related orgs
    $0
    Other
    $63,311
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $142,602
    Bonus
    $625
    Other
    $16,272
    Deferred
    $41,352
    Nontaxable benefits
    $21,959
    Filer's total
    $222,810

  • JAMES FREEMAN

    CONTROLLER (JAN-NOV)

    Total calculated
    $240,815
    From this org
    $162,794
    From related orgs
    $0
    Other
    $78,021
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $127,669
    Bonus
    $160
    Other
    $34,965
    Deferred
    $58,958
    Nontaxable benefits
    $19,063
    Filer's total
    $240,815

  • MANUEL GONZALES

    VICE PRESIDENT TECH SERVICES

    Total calculated
    $220,771
    From this org
    $157,763
    From related orgs
    $0
    Other
    $63,008
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $139,018
    Bonus
    $2,200
    Other
    $16,545
    Deferred
    $56,663
    Nontaxable benefits
    $6,345
    Filer's total
    $220,771

  • RICHARD ELLIS

    JOURNEYMAN LINEMAN

    Total calculated
    $257,782
    From this org
    $168,162
    From related orgs
    $0
    Other
    $89,620
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $158,528
    Bonus
    $2,200
    Other
    $7,434
    Deferred
    $69,612
    Nontaxable benefits
    $20,008
    Filer's total
    $257,782

  • LUIS MONTANO

    FOREMAN II

    Total calculated
    $206,126
    From this org
    $155,981
    From related orgs
    $0
    Other
    $50,145
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $154,524
    Bonus
    $1,200
    Other
    $257
    Deferred
    $29,193
    Nontaxable benefits
    $20,952
    Filer's total
    $206,126

  • JORGE GARCIA

    FOREMAN II

    Total calculated
    $226,565
    From this org
    $155,276
    From related orgs
    $0
    Other
    $71,289
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $152,664
    Bonus
    $2,200
    Other
    $412
    Deferred
    $56,300
    Nontaxable benefits
    $14,989
    Filer's total
    $226,565

  • OWEN MORTENSON

    JOURNEYMAN LINEMAN

    Total calculated
    $190,716
    From this org
    $143,163
    From related orgs
    $0
    Other
    $47,553
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $141,726
    Bonus
    $1,200
    Other
    $237
    Deferred
    $23,074
    Nontaxable benefits
    $24,479
    Filer's total
    $190,716

  • JESUS HERNANDEZ

    FOREMAN II

    Total calculated
    $207,309
    From this org
    $142,071
    From related orgs
    $0
    Other
    $65,238
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $139,575
    Bonus
    $2,200
    Other
    $296
    Deferred
    $43,166
    Nontaxable benefits
    $22,072
    Filer's total
    $207,309

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 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
PURSUANT TO THE COOPERATIVE'S WELLNESS PROGRAM, EMPLOYEES ARE REIMBURSED FOR 50% OF THEIR OUT OF POCKET COSTS FOR PARTICIPATION IN QUALIFIED WELLNESS ACTIVITIES. THE TOTAL ANNUAL REIMBURSEMENT IS LIMITED TO $360 PER EMPLOYEE AND $360 FOR AN EMPLOYEE'S SPOUSE, PROVIDED THE SPOUSE IS COVERED UNDER THE COOPERATIVE'S HEALTH INSURANCE PROGRAM. EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE WELLNESS PROGRAM AFTER 60 DAYS OF EMPLOYEMENT.
PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. CREDEN HUBER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 180,558 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,548 TOTAL REPORTED IN COLUMN C $ 187,106 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT & NQDC PLANS (180,558) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT & NQDC PLANS 73,781 EXPENSE TO THE COOPERATIVE $ 80,329 JASON BOWLING: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 97,194 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,150 TOTAL REPORTED IN COLUMN C $ 105,344 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (97,194) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 68,014 EXPENSE TO THE COOPERATIVE $ 76,164 JACK BLAIR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 79,049 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,182 TOTAL REPORTED IN COLUMN C $ 85,231 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (79,049) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 77,933 EXPENSE TO THE COOPERATIVE $ 84,115 NATHAN HODGES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 98,556 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,615 TOTAL REPORTED IN COLUMN C $ 104,171 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (98,556) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 68,014 EXPENSE TO THE COOPERATIVE $ 73,629 DANIEL WILSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 55,780 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,213 TOTAL REPORTED IN COLUMN C $ 61,993 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,780) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 70,848 EXPENSE TO THE COOPERATIVE $ 77,061 ORSON GARNSEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 73,811 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,849 TOTAL REPORTED IN COLUMN C $ 79,660 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (73,811) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 70,848 EXPENSE TO THE COOPERATIVE $ 76,697 RON LEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,312 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,604 TOTAL REPORTED IN COLUMN C $ 83,916 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,312) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 68,014 EXPENSE TO THE COOPERATIVE $ 73,618 RICHARD ELLIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 66,539 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,073 TOTAL REPORTED IN COLUMN C $ 69,612 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (66,539) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,401 EXPENSE TO THE COOPERATIVE $ 40,474 JAMES FREEMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,763 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,195 TOTAL REPORTED IN COLUMN C $ 58,958 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,763) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,972 EXPENSE TO THE COOPERATIVE $ 61,167 JORGE GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 52,909 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,391 TOTAL REPORTED IN COLUMN C $ 56,300 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (52,909) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,773 EXPENSE TO THE COOPERATIVE $ 44,164 JESUS MORENO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,927 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,425 TOTAL REPORTED IN COLUMN C $ 41,352 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,927) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,059 EXPENSE TO THE COOPERATIVE $ 53,484 MANUEL GONZALES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 52,493 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,170 TOTAL REPORTED IN COLUMN C $ 56,663 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (52,493) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,425 EXPENSE TO THE COOPERATIVE $ 49,595 JESUS HERNANDEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,956 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,210 TOTAL REPORTED IN COLUMN C $ 43,166 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,956) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,123 EXPENSE TO THE COOPERATIVE $ 38,333 LUIS MONTANO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,959 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,234 TOTAL REPORTED IN COLUMN C $ 29,193 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,959) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,950 EXPENSE TO THE COOPERATIVE $ 42,184 ANDREA TYNDALL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 51,381 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,338 TOTAL REPORTED IN COLUMN C $ 52,719 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,381) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,242 EXPENSE TO THE COOPERATIVE $ 48,580 OWEN MORTENSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,176 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,898 TOTAL REPORTED IN COLUMN C $ 23,074 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,176) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,950 EXPENSE TO THE COOPERATIVE $ 41,848 REBECCA BUKSH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,963 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,267 TOTAL REPORTED IN COLUMN C $ 36,230 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,963) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,965 EXPENSE TO THE COOPERATIVE $ 33,232

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349321044

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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