Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $61,239

• 2a · Program service revenue: ELECTRIC SERVICE REVENUE

  total $103,212,950 · related or exempt $103,212,950

• 2b · Program service revenue: SERVICE REVENUE - SV CONNECT

  total $6,955,282 · related or exempt $6,955,282

• 2c · Program service revenue: POLE RENTAL INCOME

  total $1,823,040 · excluded $1,823,040

• 2d · Program service revenue: LEASE OF FIBER

  total $15,000 · excluded $15,000

• 3 · Investment income

  total $432,411 · excluded $432,411

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

  other assets $2,417

• 7c · Gain or loss

  other assets -$2,417

• 7d · Net gain or loss

  total -$2,417 · related or exempt -$2,417

• 11a · Other revenue: OTHER NONOPERATING REVENUE

  total $88,432 · related or exempt $88,432

• 11e · Other revenue, total

  $88,432

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,056,216

• 7 · Other salaries and wages

  total $7,204,256

• 8 · Pension plan contributions

  total $1,466,565

• 9 · Other employee benefits

  total $1,861,518

• 10 · Payroll taxes

  total $587,806

• 11a · Fees: management

  total $42,195

• 11b · Fees: legal

  total $15,652

• 11c · Fees: accounting

  total $101,243

• 12 · Advertising and promotion

  total $247,631

• 13 · Office expenses

  total $1,056,517

• 14 · Information technology

  total $388,107

• 16 · Occupancy

  total $1,514,174

• 17 · Travel

  total $212,525

• 19 · Conferences, conventions and meetings

  total $5,933

• 20 · Interest

  total $1,624,171

• 22 · Depreciation, depletion and amortization

  total $8,259,849

• 23 · Insurance

  total $343,080

• 24a · Other expenses: COST OF POWER PURCHASED

  total $74,997,663

• 24b · Other expenses: ALL OTHER EXPENSES

  total $1,997,730

• 24c · Other expenses: COST OF SERVICE-SV CONNEC

  total $1,679,464

• 24d · Other expenses: FIBER DISTRIBUTION

  total $753,644

• 24e · All other expenses

  total $397,187

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,847,557 · end of year $11,909,447

• 2 · Savings and temporary cash investments

  beginning of year $4,588,966 · end of year $3,690,948

• 4 · Accounts receivable

  beginning of year $3,115,164 · end of year $2,228,504

• 7 · Other notes and loans receivable

  beginning of year $2,581,966 · end of year $2,959,067

• 8 · Inventories for sale or use

  beginning of year $1,443,073 · end of year $1,969,352

• 9 · Prepaid expenses and deferred charges

  beginning of year $583,612 · end of year $318,300

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

  $254,396,123

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

  $112,874,227

• 10c · Land, buildings and equipment, net

  beginning of year $135,450,288 · end of year $141,521,896

• 13 · Investments: program-related

  beginning of year $1,011,677 · end of year $995,464

• 15 · Other assets

  beginning of year $6,153,217 · end of year $5,601,186

• 17 · Accounts payable and accrued expenses

  beginning of year $13,222,102 · end of year $13,192,469

• 23 · Secured mortgages and notes payable

  beginning of year $46,050,337 · end of year $44,323,056

• 25 · Other liabilities

  beginning of year $3,836,564 · end of year $3,877,305

• 31 · Retained earnings, endowment or other funds

  beginning of year $102,666,517 · end of year $109,801,334

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4

ROBERT MATHENY 0 78,888 0

SCHEDULE J, PART III

SCHEDULE J, PART I, LINE 4B - IN PREVIOUS YEARS THE COOPERATIVE MADE AVAILABE A DEFERRED COMPENSATION PLAN WHEREBY COMPENSATION COULD BE DEFERRED BY CERTAIN EMPLOYEES CONSIDERED EXECUTIVES. THE COOPERATIVE DID NOT MAKE CONTRIBUTIONS TO, NOR INCUR ANY COSTS OF, THE PLAN.

Disregarded entities

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

• SVE CONNECT LLC

  BROADBAND · TN · income $7,014,429 · assets $7,212,999

  Directly controlled by SVEC

Related corporations and trusts

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

• BLALOCK PROPANE INC DBA SEQUACHEE VALLEY PROPANE

  C CORP · PROPANE GA · TN · 100% owned · share of income $1,834,051 · share of assets $2,211,249

  Directly controlled by SV SERVICE

• SEQUACHEE VALLEY SERVICES INC

  C CORP · HOLDING CO · TN · 100% owned · share of income $26,499 · share of assets $530,413

  Directly controlled by SVEC