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Nonprofiteer
← LICKING VALLEY RURAL ELECTRIC CO-OP CORPORATION

Form 990 for tax year 2025

Filed by LICKING VALLEY RURAL ELECTRIC CO-OP CORPORATION.

Totals

Total revenue
$42,347,084
Total expenses
$42,347,084
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$40,755,914
Investment income
$208,299
Other revenue
$1,382,871
Total assets, end of year
$87,869,284
Total liabilities, end of year
$49,608,323
Net assets or fund balances, end of year
$38,260,961
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$42,347,084

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: ELECTRIC REVENUE SERVICE

    total $40,755,914 · related or exempt $40,755,914

  • 3 · Investment income

    total $208,299 · excluded $208,299

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $924,879 · related or exempt $924,879

  • 11b · Other revenue: JOINT USE ATTACHMENTS

    total $250,430 · excluded $250,430

  • 11c · Other revenue: PATRONAGE CAP ALLOCATIONS

    total $207,562 · related or exempt $207,562

  • 11e · Other revenue, total

    $1,382,871

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000

  • 4 · Benefits paid to or for members

    total $706,173

  • 5 · Compensation of officers, directors and key employees

    total $331,085

  • 7 · Other salaries and wages

    total $3,424,192

  • 8 · Pension plan contributions

    total $354,811

  • 9 · Other employee benefits

    total $1,309,707

  • 10 · Payroll taxes

    total $283,681

  • 11b · Fees: legal

    total $53,013

  • 11c · Fees: accounting

    total $178,306

  • 13 · Office expenses

    total $196,495

  • 20 · Interest

    total $1,860,780

  • 22 · Depreciation, depletion and amortization

    total $3,091,454

  • 23 · Insurance

    total $238,163

  • 24a · Other expenses: COST OF POWER

    total $27,319,739

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $4,674,467

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $2,419,667

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $1,397,364

  • 24e · All other expenses

    total -$5,498,013

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $229,215 · end of year $435,632

  • 2 · Savings and temporary cash investments

    beginning of year $3,807,577 · end of year $3,314,523

  • 4 · Accounts receivable

    beginning of year $7,147,288 · end of year $6,531,522

  • 8 · Inventories for sale or use

    beginning of year $1,204,993 · end of year $962,752

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,655 · end of year $153,708

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

    $95,596,947

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

    $40,718,851

  • 10c · Land, buildings and equipment, net

    beginning of year $53,778,258 · end of year $54,878,096

  • 13 · Investments: program-related

    beginning of year $20,596,016 · end of year $21,593,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,214,155 · end of year $3,074,712

  • 23 · Secured mortgages and notes payable

    beginning of year $37,421,112 · end of year $37,893,998

  • 25 · Other liabilities

    beginning of year $8,755,400 · end of year $8,639,613

  • 29 · Capital stock, trust principal or current funds

    beginning of year $230,135 · end of year $231,720

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

    beginning of year -$1,362,560 · end of year -$1,254,629

  • 31 · Retained earnings, endowment or other funds

    beginning of year $38,550,760 · end of year $39,283,870

Mission and programs · 2025

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 17,955 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 17,955 CONSUMERS MONTHLY.

    Expenses $42,347,084 · Grants $6,000 · Revenue $41,888,355

As filed on the 2025 return.

Listed in Part VII

  • Darrell Cundiff

    PRESIDENT

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

  • Ted Holbrook

    VICE PRESIDENT

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

  • Tommy Hill

    SEC-TREASURER

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Philip Williams

    DIRECTOR

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J Frank Porter

    DIRECTOR

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

  • Kevin Howard

    DIRECTOR

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

  • Alan Oldfield

    DIRECTOR

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

  • Ck Stacy

    DIRECTOR

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

  • Kerry K Howard

    GENERAL MANAGER/CEO

    Total calculated
    $187,991
    From this org
    $158,530
    From related orgs
    $0
    Other
    $29,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,530
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $29,461
    Filer's total
    $187,991

  • Sandra Bradley

    ACCOUNTANT

    Total calculated
    $165,084
    From this org
    $139,855
    From related orgs
    $0
    Other
    $25,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,855
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $25,229
    Filer's total
    $165,084

  • Peyton Loudermilk

    SUPERVISOR/CONSTRUCTION

    Total calculated
    $153,321
    From this org
    $117,092
    From related orgs
    $0
    Other
    $36,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,092
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,229
    Filer's total
    $153,321

  • Christopher J Murphy

    GENERAL SUPERINTENDENT

    Total calculated
    $181,514
    From this org
    $140,213
    From related orgs
    $0
    Other
    $41,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,213
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $41,301
    Filer's total
    $181,514

  • James R Hinton

    SUPERVISOR ROW

    Total calculated
    $149,798
    From this org
    $113,345
    From related orgs
    $0
    Other
    $36,453
    Hours/week
    40

  • Leroy Phipps

    FIRST CLASS LINE PERSON

    Total calculated
    $148,584
    From this org
    $112,129
    From related orgs
    $0
    Other
    $36,455
    Hours/week
    40

  • Deejay G Sparkman

    SUPERVISOR/CONSTRUCTION

    Total calculated
    $133,906
    From this org
    $111,747
    From related orgs
    $0
    Other
    $22,159
    Hours/week
    40

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 · Written employment contract
  • 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
2025
Filed
28 April 2026
IRS schema version
2025v4.1
Source object
202621319349303612

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