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Nonprofiteer
← SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by SHENANDOAH VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$277,006,002
Total expenses
$273,064,407
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$274,494,342
Investment income
$1,281,467
Other revenue
$1,230,193
Total assets, end of year
$620,113,096
Total liabilities, end of year
$408,434,401
Net assets or fund balances, end of year
$211,678,695
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 AND DIST. OF ELECT.

    total $269,351,664 · related or exempt $269,351,664

  • 2b · Program service revenue: CONTRIB IN AID OF CONSTRUCT

    total $4,154,889 · related or exempt $4,154,889

  • 2c · Program service revenue: PATRONAGE ALLOC RECEIVED

    total $987,789 · related or exempt $987,789

  • 3 · Investment income

    total $1,212,976 · excluded $1,212,976

  • 6a · Gross rents

    personal property $1,294,435

  • 6b · Less rental expenses

    personal property $64,242

  • 6c · Rental income or loss

    personal property $1,230,193

  • 6d · Net rental income or loss

    total $1,230,193 · unrelated business $176,054 · excluded $1,054,139

  • 7a · Gross sales of assets other than inventory

    other assets $118,835

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

    other assets $50,344

  • 7c · Gain or loss

    other assets $68,491

  • 7d · Net gain or loss

    total $68,491 · excluded $68,491

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $12,580,534

  • 5 · Compensation of officers, directors and key employees

    total $1,099,581

  • 7 · Other salaries and wages

    total $22,776,825

  • 8 · Pension plan contributions

    total $2,831,033

  • 10 · Payroll taxes

    total $1,877,093

  • 11b · Fees: legal

    total $521,655

  • 17 · Travel

    total $3,523,624

  • 19 · Conferences, conventions and meetings

    total $89,919

  • 20 · Interest

    total $11,467,687

  • 22 · Depreciation, depletion and amortization

    total $20,885,459

  • 24a · Other expenses: COST OF POWER

    total $184,317,504

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $11,436,549

  • 24c · Other expenses: DISTRIBUTION OPERATION

    total $5,508,355

  • 24d · Other expenses: ADMIN & GENERAL

    total $5,016,003

  • 24e · All other expenses

    total -$10,867,414

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,749,812 · end of year $12,919,897

  • 2 · Savings and temporary cash investments

    beginning of year $45,803,175 · end of year $69,696,642

  • 4 · Accounts receivable

    beginning of year $30,467,489 · end of year $34,509,285

  • 8 · Inventories for sale or use

    beginning of year $7,537,117 · end of year $10,702,416

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,011,980 · end of year $2,511,475

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

    $650,676,110

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

    $228,067,801

  • 10c · Land, buildings and equipment, net

    beginning of year $409,014,408 · end of year $422,608,309

  • 13 · Investments: program-related

    beginning of year $63,910,263 · end of year $66,264,937

  • 15 · Other assets

    beginning of year $885,766 · end of year $900,135

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,832,038 · end of year $25,947,669

  • 23 · Secured mortgages and notes payable

    beginning of year $336,727,671 · end of year $374,410,307

  • 25 · Other liabilities

    beginning of year $13,803,385 · end of year $8,076,425

  • 31 · Retained earnings, endowment or other funds

    beginning of year $204,016,916 · end of year $211,678,695

Mission and programs · 2022

Mission

PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES.

  • PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 184,317,504 OTHER SALARIES AND WAGES 22,776,825 DEPRECIATION EXPENSE 20,885,459

As filed on the 2022 return.

Listed in Part VII

  • Gregory S Rogers

    PRESIDENT &

    Total calculated
    $496,719
    From this org
    $399,682
    From related orgs
    $0
    Other
    $97,037
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $399,682
    Bonus
    not reported
    Other
    not reported
    Deferred
    $81,500
    Nontaxable benefits
    $15,537
    Filer's total
    $496,719

  • Jonathan M Aulgur

    ASST SEC/TRE

    Total calculated
    $331,152
    From this org
    $287,139
    From related orgs
    $0
    Other
    $44,013
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $286,139
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $40,467
    Nontaxable benefits
    $3,546
    Filer's total
    $331,152

  • Wayne D Hannah Jr

    VP & CIO

    Total calculated
    $312,904
    From this org
    $237,105
    From related orgs
    $0
    Other
    $75,799
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $236,105
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $60,516
    Nontaxable benefits
    $15,283
    Filer's total
    $312,904

  • Jason E Burch

    VP ENGINEERI

    Total calculated
    $238,692
    From this org
    $193,895
    From related orgs
    $0
    Other
    $44,797
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $192,895
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $29,206
    Nontaxable benefits
    $15,591
    Filer's total
    $238,692

  • Michael Alexander

    LEAD LINEMAN

    Total calculated
    $227,711
    From this org
    $187,917
    From related orgs
    $0
    Other
    $39,794
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,917
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $29,764
    Nontaxable benefits
    $10,030
    Filer's total
    $227,711

  • Thomas H Handley

    DIRECTOR OF

    Total calculated
    $209,764
    From this org
    $176,180
    From related orgs
    $0
    Other
    $33,584
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,180
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,195
    Nontaxable benefits
    $2,389
    Filer's total
    $209,764

  • Benjamin Cash

    MGR DISTRICT

    Total calculated
    $209,713
    From this org
    $164,540
    From related orgs
    $0
    Other
    $45,173
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,540
    Bonus
    $1,000
    Other
    not reported
    Deferred
    $30,729
    Nontaxable benefits
    $14,444
    Filer's total
    $209,713

  • Ca Helsley

    SEC/TREAS

    Total calculated
    $33,985
    From this org
    $33,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Todd Van Horn

    DIRECTOR

    Total calculated
    $28,205
    From this org
    $28,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.81

  • Larry C Howdyshell

    DIRECTOR

    Total calculated
    $27,540
    From this org
    $27,540
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.98

  • Bill Orndoff

    CHAIR

    Total calculated
    $27,260
    From this org
    $27,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.15

  • Stephen Burkholder

    DIRECTOR

    Total calculated
    $26,535
    From this org
    $26,535
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.98

  • Robbie F Marchant

    DIRECTOR

    Total calculated
    $26,200
    From this org
    $26,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.61

  • Suzanne Obenshain

    DIRECTOR

    Total calculated
    $25,975
    From this org
    $25,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.33

  • Jr Dofflemyer

    VICE CHAIR

    Total calculated
    $25,590
    From this org
    $25,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Brent Arbogast

    DIRECTOR

    Total calculated
    $25,320
    From this org
    $25,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.43

  • Brian Plum

    DIRECTOR

    Total calculated
    $25,100
    From this org
    $25,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.56

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 4
GREGORY S. ROGERS 0 20,500 0
SCHEDULE J, PART III
CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR)UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
27 October 2023
IRS schema version
2022v5.0
Source object
202313079349301461

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

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