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Nonprofiteer
← TWIN VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by TWIN VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$6,561,456
Total expenses
$6,561,456
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,543,755
Investment income
$9,020
Other revenue
$8,681
Total assets, end of year
$32,432,412
Total liabilities, end of year
$23,213,291
Net assets or fund balances, end of year
$9,219,121
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 of Electricity

    total $6,425,125 · related or exempt $6,425,125

  • 2b · Program service revenue: Capital Credits

    total $55,758 · related or exempt $55,758

  • 2c · Program service revenue: Other Operating Revenue

    total $62,872 · related or exempt $62,872

  • 3 · Investment income

    total $9,020 · excluded $9,020

  • 6a · Gross rents

    personal property $5,886

  • 6c · Rental income or loss

    personal property $5,886

  • 6d · Net rental income or loss

    total $5,886 · excluded $5,886

  • 11a · Other revenue: Non-Operating

    total $2,795 · related or exempt $2,795

  • 11e · Other revenue, total

    $2,795

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $267,158

  • 5 · Compensation of officers, directors and key employees

    total $397,175

  • 7 · Other salaries and wages

    total $143,232

  • 20 · Interest

    total $648,946

  • 22 · Depreciation, depletion and amortization

    total $931,562

  • 24a · Other expenses: Cost of Power

    total $2,776,755 · program services $2,776,755

  • 24b · Other expenses: Distribution Expense

    total $814,369 · program services $814,369

  • 24c · Other expenses: Admin & General

    total $434,920 · program services $434,920

  • 24d · Other expenses: Member Services

    total $146,847 · program services $146,847

  • 24e · All other expenses

    total $492

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $386,006 · end of year $236,840

  • 4 · Accounts receivable

    beginning of year $677,814 · end of year $537,489

  • 7 · Other notes and loans receivable

    beginning of year $304,552 · end of year $237,326

  • 8 · Inventories for sale or use

    beginning of year $266,307 · end of year $280,161

  • 9 · Prepaid expenses and deferred charges

    beginning of year $235,839 · end of year $141,364

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

    $36,325,266

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

    $7,629,429

  • 10c · Land, buildings and equipment, net

    beginning of year $28,066,738 · end of year $28,695,837

  • 13 · Investments: program-related

    beginning of year $2,258,439 · end of year $2,303,395

  • 15 · Other assets

    beginning of year $1,974

  • 17 · Accounts payable and accrued expenses

    beginning of year $882,806 · end of year $859,696

  • 19 · Deferred revenue

    beginning of year $173,552 · end of year $165,167

  • 23 · Secured mortgages and notes payable

    beginning of year $22,162,284 · end of year $21,378,428

  • 24 · Unsecured notes and loans payable

    end of year $810,000

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

    beginning of year $617,709 · end of year $649,199

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,361,318 · end of year $8,569,922

Mission and programs · 2023

Mission

Providing safe, reliable energy services and enhancing the quality of life for our member owners.

  • Twin Valley Electric Cooperative, Inc. is an electric distribution cooperative that provided approximately 2,900 services to its approximately 1,960 members located in southeast Kansas.

As filed on the 2023 return.

Listed in Part VII

  • Angela Erickson

    CEO

    Total calculated
    $230,821
    From this org
    $167,300
    From related orgs
    $0
    Other
    $63,521
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $167,300
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,795
    Nontaxable benefits
    $20,726
    Filer's total
    $230,821

  • Rebecca Hanigan

    CFO

    Total calculated
    $153,670
    From this org
    $115,254
    From related orgs
    $0
    Other
    $38,416
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $115,254
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,026
    Nontaxable benefits
    $20,390
    Filer's total
    $153,670

  • Adam Myers

    Line Superintendent

    Total calculated
    $143,232
    From this org
    $110,251
    From related orgs
    $0
    Other
    $32,981
    Hours/week
    44

  • Bryan Hucke

    Secretary

    Total calculated
    $2,410
    From this org
    $2,410
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.29

  • Larry D Hubbell

    Board Vice President

    Total calculated
    $1,960
    From this org
    $1,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.88

  • Bryan Coover

    Board President

    Total calculated
    $1,410
    From this org
    $1,410
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.85

  • Jason Zwahlen

    Director

    Total calculated
    $1,410
    From this org
    $1,410
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.09

  • Diane McCartney

    Director

    Total calculated
    $1,360
    From this org
    $1,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.29

  • Dareld Nelson

    Treasurer

    Total calculated
    $1,360
    From this org
    $1,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Heath Steeby

    Director

    Total calculated
    $1,256
    From this org
    $1,256
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.72

  • Tom Ellison

    Director

    Total calculated
    $1,206
    From this org
    $1,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.08

  • Jared Nash

    Director

    Total calculated
    $1,110
    From this org
    $1,110
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.04

  • Rodney Baker

    Director

    Total calculated
    $203
    From this org
    $203
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $203
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $203

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 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
2023
Filed
11 October 2024
IRS schema version
2023v5.1
Source object
202402879349300215

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