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← CANEY VALLEY ELECTRIC COOPERATIVE ASSOCIATION INC

Form 990 for tax year 2024

Filed by CANEY VALLEY ELECTRIC COOPERATIVE ASSOCIATION INC.

Totals

Total revenue
$9,780,443
Total expenses
$9,780,443
Contributions and grants received
$0
Grants paid
$7,000
Program service revenue
$9,719,630
Investment income
$46,667
Other revenue
$14,146
Total assets, end of year
$33,088,321
Total liabilities, end of year
$16,126,879
Net assets or fund balances, end of year
$16,961,442
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 $9,607,906 · related or exempt $9,607,906

  • 2b · Program service revenue: Capital Credits

    total $69,557 · related or exempt $69,557

  • 2c · Program service revenue: Miscellaneous

    total $42,167 · related or exempt $42,167

  • 3 · Investment income

    total $46,667 · excluded $46,667

  • 6a · Gross rents

    personal property $14,464

  • 6c · Rental income or loss

    personal property $14,464

  • 6d · Net rental income or loss

    total $14,464 · excluded $14,464

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Other Non-Operating

    total -$318 · related or exempt -$318

  • 11e · Other revenue, total

    -$318

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,000

  • 4 · Benefits paid to or for members

    total $67,009

  • 5 · Compensation of officers, directors and key employees

    total $354,108

  • 7 · Other salaries and wages

    total $164,080

  • 20 · Interest

    total $511,261

  • 22 · Depreciation, depletion and amortization

    total $915,068

  • 24a · Other expenses: Cost of Power

    total $5,016,000 · program services $5,016,000

  • 24b · Other expenses: Distribution

    total $1,817,069 · program services $1,817,069

  • 24c · Other expenses: Admin & General

    total $592,989 · program services $592,989

  • 24d · Other expenses: Member Service

    total $335,859 · program services $335,859

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $698,551 · end of year $631,404

  • 2 · Savings and temporary cash investments

    beginning of year $1,000,000

  • 4 · Accounts receivable

    beginning of year $542,782 · end of year $566,479

  • 8 · Inventories for sale or use

    beginning of year $456,849 · end of year $373,863

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,188,911 · end of year $1,107,770

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

    $37,290,761

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

    $10,944,049

  • 10c · Land, buildings and equipment, net

    beginning of year $25,109,854 · end of year $26,346,712

  • 13 · Investments: program-related

    beginning of year $4,021,521 · end of year $4,062,093

  • 17 · Accounts payable and accrued expenses

    beginning of year $958,979 · end of year $942,126

  • 19 · Deferred revenue

    beginning of year $234,475 · end of year $247,575

  • 23 · Secured mortgages and notes payable

    beginning of year $14,830,795 · end of year $14,937,178

  • 29 · Capital stock, trust principal or current funds

    beginning of year $19,492 · end of year $19,378

  • 31 · Retained earnings, endowment or other funds

    beginning of year $16,974,727 · end of year $16,942,064

Mission and programs · 2024

Mission

It is our mission to safely and economically provide reliable energy and other services that bring value to our membership.

  • Provide electric energy to approximately 5,200 consumer members located in all or parts of five counties. These counties inclued all the towns and rural areas in Chautauqua County, all the rural areas in most of Elk County, the eastern half of Cowley County, and a small part of Butler and Montgomery Counties. The Cooperative operates on a total of 1,785 miles of transmission and distribution line.

As filed on the 2024 return.

Listed in Part VII

  • Allen A Zadorozny

    General Manager

    Total calculated
    $182,293
    From this org
    $152,523
    From related orgs
    $0
    Other
    $29,770
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $152,523
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,055
    Nontaxable benefits
    $12,715
    Filer's total
    $182,293

  • Gary C Lampson

    Line Supervisor

    Total calculated
    $164,080
    From this org
    $129,563
    From related orgs
    $0
    Other
    $34,517
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $129,563
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,448
    Nontaxable benefits
    $19,069
    Filer's total
    $164,080

  • Katherine M Sweaney

    AcctgHR Manager

    Total calculated
    $128,615
    From this org
    $107,447
    From related orgs
    $0
    Other
    $21,168
    Hours/week
    40

  • Chris Kelly

    Director

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stephanie Ollenborger

    Director

    Total calculated
    $5,700
    From this org
    $5,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steven D Clark

    Director

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steven L Warburton

    Director

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dan Hubert

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carl O Clapp III III

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Barry W Speer

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Levi B Lear

    Director

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alex Fulsom

    Director

    Total calculated
    $3,300
    From this org
    $3,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charles McMillan

    Director

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

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
11 August 2025
IRS schema version
2024v5.2
Source object
202512299349300351

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