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Nonprofiteer
← GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$333,516,518
Total expenses
$329,697,006
Contributions and grants received
$0
Grants paid
$121,214
Program service revenue
$327,990,887
Investment income
$676,318
Other revenue
$4,849,313
Total assets, end of year
$960,046,886
Total liabilities, end of year
$565,035,727
Net assets or fund balances, end of year
$395,011,159
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: SALES OF ELECTRICITY

    total $283,703,312 · related or exempt $283,703,312

  • 2b · Program service revenue: SALES FROM INTERNET OPERATIONS

    total $20,918,622 · related or exempt $14,551,675 · unrelated business $6,366,947

  • 2c · Program service revenue: TRANSMISSION ACCESS

    total $15,560,899 · related or exempt $15,560,899

  • 2d · Program service revenue: SERVICE FEES & OTHER CHARGES

    total $2,671,477 · related or exempt $2,671,477

  • 2e · Program service revenue: TRANSMISSION LEASE

    total $2,650,377 · related or exempt $2,650,377

  • 2f · All other program service revenue

    total $2,486,200 · related or exempt $2,486,200

  • 3 · Investment income

    total $654,716 · excluded $654,716

  • 7a · Gross sales of assets other than inventory

    other assets $21,602

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

    other assets $0

  • 7c · Gain or loss

    other assets $21,602

  • 7d · Net gain or loss

    total $21,602 · related or exempt $21,602

  • 11a · Other revenue: INTERCOMPANY MANAGEMENT INCOME

    total $3,496,253 · unrelated business $3,496,253

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $626,000 · excluded $626,000

  • 11c · Other revenue: MAINTENANCE REVENUE

    total $466,969 · unrelated business $466,969

  • 11d · All other revenue

    total $260,091 · related or exempt $260,091

  • 11e · Other revenue, total

    $4,849,313

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $121,214

  • 4 · Benefits paid to or for members

    total $23,699,117

  • 5 · Compensation of officers, directors and key employees

    total $3,675,427

  • 7 · Other salaries and wages

    total $19,101,958

  • 8 · Pension plan contributions

    total $1,874,883

  • 9 · Other employee benefits

    total $2,990,021

  • 10 · Payroll taxes

    total $1,583,949

  • 20 · Interest

    total $10,747,706

  • 22 · Depreciation, depletion and amortization

    total $36,208,317

  • 24a · Other expenses: PURCHASED POWER

    total $205,599,243

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $9,935,273

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $5,813,019

  • 24d · Other expenses: UNRELATED BUSINESS INCO

    total $383,019

  • 24e · All other expenses

    total $7,963,860

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,257,449 · end of year $20,129,184

  • 2 · Savings and temporary cash investments

    beginning of year $271,560 · end of year $271,799

  • 4 · Accounts receivable

    beginning of year $15,522,060 · end of year $21,767,319

  • 7 · Other notes and loans receivable

    beginning of year $4,621,252 · end of year $4,485,698

  • 8 · Inventories for sale or use

    beginning of year $127,058 · end of year $103,499

  • 9 · Prepaid expenses and deferred charges

    beginning of year $186,139,832 · end of year $184,802,461

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

    $1,024,478,139

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

    $327,038,512

  • 10c · Land, buildings and equipment, net

    beginning of year $627,548,771 · end of year $697,439,627

  • 13 · Investments: program-related

    beginning of year $15,163,505 · end of year $16,326,230

  • 14 · Intangible assets

    beginning of year $3,219,789 · end of year $3,198,584

  • 15 · Other assets

    beginning of year $9,733,918 · end of year $11,522,485

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,736,695 · end of year $37,610,053

  • 19 · Deferred revenue

    beginning of year $220,865

  • 21 · Escrow or custodial account liability

    beginning of year $51,456 · end of year $90,362

  • 23 · Secured mortgages and notes payable

    beginning of year $462,597,681 · end of year $506,207,770

  • 25 · Other liabilities

    beginning of year $23,509,179 · end of year $21,127,542

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,870,816 · end of year $6,010,181

  • 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 $361,618,502 · end of year $389,000,978

Mission and programs · 2022

Mission

BUILDING ON OUR HERITAGE & HAVING CONFIDENCE IN THE FUTURE, GUADALUPE VALLEY ELECTRIC COOPERATIVE IS A TEAM OF PROFESSIONALS COMMITTED TO EXCEEDING EXPECTATIONS BY IDENTIFYING & INVESTING IN PRODUCTS & SERVICES THAT EMPOWER THE PEOPLE AND COMMUNITIES WE SERVE.

Activities or mission (Part I)

TO PROVIDE RELIABLE ELECTRIC & INTERNET SERVICE ON A COOPERATIVE BASIS.

  • ELECTRIC DIVISION:SALE OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 95,782 ACTIVE SERVICES AT YEAR END.

  • INTERNET/BROADBAND SERVICE DIVISION:PROVIDING FIBER INTERNET SERVICES TO ITS MEMBERS THROUGH A COMBINATION OF WIRELESS AND FIBER-TO-THE-HOME TECHNOLOGIES. SERVICES OF THIS DIVISION WILL BE PROVIDED TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO THE EXTENT OF MARGINS FOR SUCH DIVISION. FIBER AND WIRELESS INTERNET IS ALSO PROVIDED TO NON-MEMBERS ON A NON-PATRONAGE BASIS.

As filed on the 2022 return.

Listed in Part VII

  • Gary Birdwell

    CHAIRMAN

    Total calculated
    $51,542
    From this org
    $51,542
    From related orgs
    $0
    Other
    $0
    Hours/week
    20 + 2 related

  • Leo York

    DIRECTOR

    Total calculated
    $49,292
    From this org
    $49,292
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.21 + 2 related

  • Henry Schmidt

    VICE PRESIDENT

    Total calculated
    $41,192
    From this org
    $41,192
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 3 related

  • Lewis Borgfeld

    DIRECTOR

    Total calculated
    $38,483
    From this org
    $38,483
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 3 related

  • Morris Harvey

    SECRETARY/TREASURER

    Total calculated
    $35,792
    From this org
    $35,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.8 + 2 related

  • Mark Roberts

    DIRECTOR

    Total calculated
    $30,486
    From this org
    $30,486
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.2 + 2 related

  • Robert Werner

    DIRECTOR

    Total calculated
    $29,942
    From this org
    $29,942
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4 + 2 related

  • Melvin Strey

    DIRECTOR

    Total calculated
    $29,483
    From this org
    $29,483
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 3 related

  • Don Williams

    DIRECTOR

    Total calculated
    $28,587
    From this org
    $28,587
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 3 related

  • David Warzecha

    DIRECTOR

    Total calculated
    $26,783
    From this org
    $26,783
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 2 related

  • Shawn Martinez

    DIRECTOR

    Total calculated
    $25,748
    From this org
    $25,748
    From related orgs
    $0
    Other
    $0
    Hours/week
    3 + 2 related

  • Darren Schauer

    GM/CEO

    Total calculated
    $794,421
    From this org
    $733,479
    From related orgs
    $0
    Other
    $60,942
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $515,323
    Bonus
    $152,412
    Other
    $65,744
    Deferred
    $30,500
    Nontaxable benefits
    $30,442
    Filer's total
    $794,421

  • Sean Alvarez

    COO

    Total calculated
    $528,106
    From this org
    $469,105
    From related orgs
    $0
    Other
    $59,001
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $361,428
    Bonus
    $78,392
    Other
    $29,285
    Deferred
    $30,500
    Nontaxable benefits
    $28,501
    Filer's total
    $528,106

  • Gary Korn

    CFO

    Total calculated
    $371,920
    From this org
    $319,404
    From related orgs
    $0
    Other
    $52,516
    Hours/week
    48 + 1 related

    Schedule J breakdown matched by us

    Base
    $271,217
    Bonus
    $29,475
    Other
    $18,712
    Deferred
    $30,500
    Nontaxable benefits
    $22,016
    Filer's total
    $371,920

  • Ashley Coburn

    CPO

    Total calculated
    $296,405
    From this org
    $244,519
    From related orgs
    $0
    Other
    $51,886
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $210,200
    Bonus
    $21,700
    Other
    $12,619
    Deferred
    $24,155
    Nontaxable benefits
    $27,731
    Filer's total
    $296,405

  • Ceason Barnick

    SR EXEC MGR - CUSTOMER REL

    Total calculated
    $290,003
    From this org
    $241,288
    From related orgs
    $0
    Other
    $48,715
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $208,627
    Bonus
    $16,228
    Other
    $16,433
    Deferred
    $23,566
    Nontaxable benefits
    $25,149
    Filer's total
    $290,003

  • Graham Hauptman

    SR EXEC MGR - MARKETING/PR

    Total calculated
    $282,885
    From this org
    $255,729
    From related orgs
    $0
    Other
    $27,156
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,288
    Bonus
    $20,000
    Other
    $79,441
    Deferred
    $24,706
    Nontaxable benefits
    $2,450
    Filer's total
    $282,885

  • Robert Christmas

    SR EXEC MGR - COMPLIANCE

    Total calculated
    $279,398
    From this org
    $233,115
    From related orgs
    $0
    Other
    $46,283
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $193,976
    Bonus
    $15,543
    Other
    $23,596
    Deferred
    $22,715
    Nontaxable benefits
    $23,568
    Filer's total
    $279,398

  • Krista Davis

    SR EXEC MGR - CORP SRVC/BUS PLAN

    Total calculated
    $235,804
    From this org
    $187,638
    From related orgs
    $0
    Other
    $48,166
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,124
    Bonus
    $5,925
    Other
    $12,589
    Deferred
    $18,671
    Nontaxable benefits
    $29,495
    Filer's total
    $235,804

  • Tammy Thompson

    SR MKTING/COMM MGR

    Total calculated
    $209,155
    From this org
    $164,776
    From related orgs
    $0
    Other
    $44,379
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $151,242
    Bonus
    $12,760
    Other
    $774
    Deferred
    $17,353
    Nontaxable benefits
    $27,026
    Filer's total
    $209,155

  • Robert Russell

    EXEC ENGINEER - COMMUNICATIONS

    Total calculated
    $278,525
    From this org
    $243,430
    From related orgs
    $0
    Other
    $35,095
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $212,169
    Bonus
    $16,186
    Other
    $15,075
    Deferred
    $23,458
    Nontaxable benefits
    $11,637
    Filer's total
    $278,525

  • Jeffrey Strahl

    EXEC MGR - INFORMATION TEC

    Total calculated
    $277,794
    From this org
    $226,678
    From related orgs
    $0
    Other
    $51,116
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $197,917
    Bonus
    $15,728
    Other
    $13,033
    Deferred
    $22,464
    Nontaxable benefits
    $28,652
    Filer's total
    $277,794

  • William Nichols

    EXEC MGR - POWER SUPPLY

    Total calculated
    $253,484
    From this org
    $209,643
    From related orgs
    $0
    Other
    $43,841
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,463
    Bonus
    $20,096
    Other
    $3,084
    Deferred
    $21,368
    Nontaxable benefits
    $22,473
    Filer's total
    $253,484

  • Zachary Taylor

    EXEC MGR - ENGINEERING

    Total calculated
    $244,621
    From this org
    $200,013
    From related orgs
    $0
    Other
    $44,608
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $173,483
    Bonus
    $13,941
    Other
    $12,589
    Deferred
    $19,472
    Nontaxable benefits
    $25,136
    Filer's total
    $244,621

  • Richard McKinney

    EXEC MGR - OPERATIONS

    Total calculated
    $228,062
    From this org
    $187,197
    From related orgs
    $0
    Other
    $40,865
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $157,639
    Bonus
    $12,829
    Other
    $16,729
    Deferred
    $18,290
    Nontaxable benefits
    $22,575
    Filer's total
    $228,062

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 · Compensation committee
  • 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)

PART I, LINE 4B
DARREN SCHAUER - $20,500 457(B) PLAN SEAN ALVAREZ - $20,500 457(B) PLAN GARY KORN - $ 6,733 457(B) 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

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.

  • GVEC CHARITABLE FOUNDATION

    501(C)(3) · TO PROVIDE FUNDING FOR LOCAL NON-PROFITS AND NEEDY INDIVIDUALS · TX · controlled entity

    Directly controlled by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GVECNET LLC

    INACTIVE · TX · income $0 · assets $0

    Directly controlled by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

  • GVDC LLC

    INVESTMENT COMPANY · TX · income $0 · assets $1,890,652

    Directly controlled by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GVEC HOME SERVICES INC

    C · HVAC, SOLAR & ELECTRICIAN SALES AND SERVICES · TX · 100% owned · share of income $3,946,623 · share of assets $4,167,269 · controlled entity

    Directly controlled by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313209349302006

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