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Nonprofiteer
← YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$44,511,489
Total expenses
$42,554,840
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$41,500,409
Investment income
$130,003
Other revenue
$2,881,077
Total assets, end of year
$100,454,611
Total liabilities, end of year
$68,604,092
Net assets or fund balances, end of year
$31,850,519
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: UTILITIES & SERVICES

    total $41,500,409 · related or exempt $41,500,409

  • 3 · Investment income

    total $130,003 · related or exempt $130,003

  • 6a · Gross rents

    personal property $54,664

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $54,664

  • 6d · Net rental income or loss

    total $54,664 · excluded $54,664

  • 11a · Other revenue: CAPITAL CREDITS ALLOC

    total $2,639,874 · related or exempt $2,639,874

  • 11b · Other revenue: WAPA WHEELING CREDIT

    total $157,500 · related or exempt $157,500

  • 11c · Other revenue: MERCHANDISING

    total $29,039 · related or exempt $29,039

  • 11e · Other revenue, total

    $2,826,413

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,085,183

  • 5 · Compensation of officers, directors and key employees

    total $1,193,649

  • 7 · Other salaries and wages

    total $221,166

  • 11b · Fees: legal

    total $28,700

  • 11c · Fees: accounting

    total $18,850

  • 11d · Fees: lobbying

    total $3,145

  • 11g · Fees: other

    total $147,059

  • 13 · Office expenses

    total $553,720

  • 19 · Conferences, conventions and meetings

    total $133,230

  • 20 · Interest

    total $2,558,178

  • 22 · Depreciation, depletion and amortization

    total $3,692,097

  • 23 · Insurance

    total $43,756

  • 24a · Other expenses: COST OF POWER

    total $22,103,657

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $5,317,759

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $2,466,230

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $818,432

  • 24e · All other expenses

    total $2,170,029

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,405,979 · end of year $121,080

  • 2 · Savings and temporary cash investments

    beginning of year $3,957,312 · end of year $4,507,589

  • 4 · Accounts receivable

    beginning of year $2,742,104 · end of year $3,027,498

  • 8 · Inventories for sale or use

    beginning of year $1,428,212 · end of year $1,618,966

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,179 · end of year $89,656

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

    $124,402,290

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

    $47,107,774

  • 10c · Land, buildings and equipment, net

    beginning of year $74,050,661 · end of year $77,294,516

  • 13 · Investments: program-related

    beginning of year $10,434,146 · end of year $12,638,699

  • 15 · Other assets

    beginning of year $736,978 · end of year $1,156,607

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,525,355 · end of year $5,229,016

  • 23 · Secured mortgages and notes payable

    beginning of year $58,749,152 · end of year $61,643,076

  • 25 · Other liabilities

    beginning of year $1,649,194 · end of year $1,732,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,525,636 · end of year $2,367,453

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,368,234 · end of year $29,483,066

Mission and programs · 2024

Mission

RURAL ELECTRIC COOPERATIVE ESTABLISHED TO PROVIDE ELECTRICAL POWER AND SERVICES TO ITS MEMBERS LOCATED IN THE CENTRAL PORTION OF MONTANA.

Activities or mission (Part I)

YELLOWSTONE VALLEY ELECTRIC COOPERATIVE, INC. OPERATES AS AN RURAL ELECTRIC UTILITY ON A NON PROFIT BASIS BY PROVIDING ELECTRICAL POWER AND UTILITY SERVICES TO ITS MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF MONTANA. THE COOPERATIVE IS EXEMPT UNDER SECTION 501 (C) (12).

  • COOPERATIVE RESOURCES AND ACTIVITIES ARE RELATED TO PROVIDING ELECTRICAL POWER AND SERVICES TO APPROXIMATELY 18,914 MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF THE STATE OF MONTANA.

As filed on the 2024 return.

Listed in Part VII

  • Dave Kelsey

    VICE PRESIDENT

    Total calculated
    $64,262
    From this org
    $64,262
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Daniel R Swartz

    DIRECTOR

    Total calculated
    $35,642
    From this org
    $35,642
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jwilliam Keller

    DIRECTOR

    Total calculated
    $12,043
    From this org
    $12,043
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Larry Kaufman

    PRESIDENT

    Total calculated
    $25,167
    From this org
    $25,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Greg Neibauer

    DIRECTOR

    Total calculated
    $24,723
    From this org
    $24,723
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Scott Hofferber

    SECRETARY/TREASURER

    Total calculated
    $36,496
    From this org
    $36,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Chris White

    DIRECTOR

    Total calculated
    $29,266
    From this org
    $29,266
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brandon J Wittman

    GENERAL MANAGER

    Total calculated
    $581,060
    From this org
    $452,008
    From related orgs
    $0
    Other
    $129,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $452,008
    Bonus
    $0
    Other
    $0
    Deferred
    $101,647
    Nontaxable benefits
    $27,405
    Filer's total
    $581,060

  • Monti Wetsch Shaules

    OFFICE MANAGER

    Total calculated
    $236,260
    From this org
    $181,565
    From related orgs
    $0
    Other
    $54,695
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,565
    Bonus
    $0
    Other
    $0
    Deferred
    $54,695
    Nontaxable benefits
    $0
    Filer's total
    $236,260

  • Mariah Wittman

    CONTROLLER

    Total calculated
    $148,730
    From this org
    $106,972
    From related orgs
    $0
    Other
    $41,758
    Hours/week
    40

  • Jerome Wandler

    LINEMAN

    Total calculated
    $246,155
    From this org
    $168,073
    From related orgs
    $0
    Other
    $78,082
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,073
    Bonus
    $0
    Other
    $0
    Deferred
    $51,958
    Nontaxable benefits
    $26,124
    Filer's total
    $246,155

  • Dan Shaules

    LINEMAN SUPERVISOR

    Total calculated
    $290,715
    From this org
    $202,157
    From related orgs
    $0
    Other
    $88,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,157
    Bonus
    $0
    Other
    $0
    Deferred
    $60,733
    Nontaxable benefits
    $27,825
    Filer's total
    $290,715

  • James Webber

    ENGINEER

    Total calculated
    $248,001
    From this org
    $167,906
    From related orgs
    $0
    Other
    $80,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,906
    Bonus
    $0
    Other
    $0
    Deferred
    $52,270
    Nontaxable benefits
    $27,825
    Filer's total
    $248,001

  • Cody Houska

    LINEMAN

    Total calculated
    $262,377
    From this org
    $184,295
    From related orgs
    $0
    Other
    $78,082
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,295
    Bonus
    $0
    Other
    $0
    Deferred
    $51,958
    Nontaxable benefits
    $26,124
    Filer's total
    $262,377

  • Michael Teter

    LINEMAN

    Total calculated
    $238,814
    From this org
    $160,736
    From related orgs
    $0
    Other
    $78,078
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,736
    Bonus
    $0
    Other
    $0
    Deferred
    $51,954
    Nontaxable benefits
    $26,124
    Filer's total
    $238,814

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

  • 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
2024
Filed
29 May 2025
IRS schema version
2024v5.1
Source object
202511549349301041

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