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Nonprofiteer
← GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$344,406,938
Total expenses
$344,506,781
Contributions and grants received
$0
Grants paid
$18,982
Program service revenue
$336,357,437
Investment income
$1,418,928
Other revenue
$6,630,573
Total assets, end of year
$1,019,194,887
Total liabilities, end of year
$597,680,433
Net assets or fund balances, end of year
$421,514,454
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 $285,919,886 · related or exempt $285,919,886

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

    total $23,375,079 · related or exempt $16,263,506 · unrelated business $7,111,573

  • 2c · Program service revenue: TRANSMISSION ACCESS

    total $16,769,447 · related or exempt $16,769,447

  • 2d · Program service revenue: PATRONAGE DIVIDENDS

    total $4,800,702 · related or exempt $4,800,702

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

    total $2,841,946 · related or exempt $2,841,946

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,290,968 · excluded $1,290,968

  • 7a · Gross sales of assets other than inventory

    other assets $144,746

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

    other assets $16,786

  • 7c · Gain or loss

    other assets $127,960

  • 7d · Net gain or loss

    total $127,960 · related or exempt $126,889 · unrelated business $1,071

  • 11a · Other revenue: INTERCOMPANY MANAGEMENT INCOME

    total $5,267,737 · unrelated business $5,267,737

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $688,843 · excluded $688,843

  • 11c · Other revenue: MAINTENANCE REVENUE

    total $476,069 · unrelated business $476,069

  • 11d · All other revenue

    total $197,924 · related or exempt $197,924

  • 11e · Other revenue, total

    $6,630,573

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,982

  • 4 · Benefits paid to or for members

    total $24,444,968

  • 5 · Compensation of officers, directors and key employees

    total $3,473,560

  • 7 · Other salaries and wages

    total $21,567,254

  • 8 · Pension plan contributions

    total $2,092,714

  • 9 · Other employee benefits

    total $3,141,351

  • 10 · Payroll taxes

    total $1,734,129

  • 20 · Interest

    total $14,775,480

  • 22 · Depreciation, depletion and amortization

    total $39,719,176

  • 24a · Other expenses: PURCHASED POWER

    total $206,281,405

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $11,459,293

  • 24c · Other expenses: INTERNET EXPENSE

    total $6,132,985

  • 24d · Other expenses: UBI TAX

    total $104,419

  • 24e · All other expenses

    total $9,561,065

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,129,184 · end of year $22,275,882

  • 2 · Savings and temporary cash investments

    beginning of year $271,799 · end of year $34,477

  • 4 · Accounts receivable

    beginning of year $21,767,319 · end of year $19,948,946

  • 7 · Other notes and loans receivable

    beginning of year $4,485,698 · end of year $3,531,528

  • 8 · Inventories for sale or use

    beginning of year $103,499 · end of year $173,665

  • 9 · Prepaid expenses and deferred charges

    beginning of year $184,802,461 · end of year $189,848,153

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

    $1,108,558,980

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

    $357,912,322

  • 10c · Land, buildings and equipment, net

    beginning of year $697,439,627 · end of year $750,646,658

  • 13 · Investments: program-related

    beginning of year $16,326,230 · end of year $18,032,960

  • 14 · Intangible assets

    beginning of year $3,198,584 · end of year $3,177,378

  • 15 · Other assets

    beginning of year $11,522,485 · end of year $11,525,240

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,610,053 · end of year $25,064,746

  • 21 · Escrow or custodial account liability

    beginning of year $90,362 · end of year $46,111

  • 23 · Secured mortgages and notes payable

    beginning of year $506,207,770 · end of year $551,602,331

  • 25 · Other liabilities

    beginning of year $21,127,542 · end of year $20,967,245

  • 29 · Capital stock, trust principal or current funds

    beginning of year $6,010,181 · end of year $32,845,667

  • 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 $389,000,978 · end of year $388,668,787

Mission and programs · 2023

Mission

BUILDING ON OUR HERITAGE AND HAVING CONFIDENCE IN THE FUTURE, GUADALUPE VALLEY ELECTRIC COOPERATIVE IS A TEAM OF PROFESSIONALS COMMITTED TO EXCEEDING EXPECTATIONS BY IDENTIFYING AND 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 99,680 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 2023 return.

Listed in Part VII

  • Gary Birdwell

    PRESIDENT

    Total calculated
    $53,106
    From this org
    $53,106
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

  • Lewis Borgfeld

    DIRECTOR

    Total calculated
    $42,297
    From this org
    $42,297
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.3 + 3 related

  • Morris Harvey

    SECRETARY/TREASURER

    Total calculated
    $39,156
    From this org
    $39,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.4 + 2 related

  • Shawn Martinez

    DIRECTOR

    Total calculated
    $34,802
    From this org
    $34,802
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 2 related

  • Mark Roberts

    DIRECTOR

    Total calculated
    $35,922
    From this org
    $35,922
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5 + 2 related

  • Henry Schmidt

    VICE PRESIDENT

    Total calculated
    $39,156
    From this org
    $39,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    9 + 3 related

  • Melvin Strey

    DIRECTOR

    Total calculated
    $29,458
    From this org
    $29,458
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 3 related

  • David Warzecha

    DIRECTOR

    Total calculated
    $25,197
    From this org
    $25,197
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4 + 2 related

  • Robert Werner

    DIRECTOR

    Total calculated
    $30,156
    From this org
    $30,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 2 related

  • Don Williams

    DIRECTOR

    Total calculated
    $33,750
    From this org
    $33,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3 + 3 related

  • Leo York

    DIRECTOR

    Total calculated
    $47,706
    From this org
    $47,706
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.8 + 2 related

  • Darren Schauer

    GM/CEO

    Total calculated
    $871,293
    From this org
    $806,814
    From related orgs
    $0
    Other
    $64,479
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $565,094
    Bonus
    $166,166
    Other
    $75,554
    Deferred
    $33,000
    Nontaxable benefits
    $31,479
    Filer's total
    $871,293

  • Sean Alvarez

    COO

    Total calculated
    $568,522
    From this org
    $505,555
    From related orgs
    $0
    Other
    $62,967
    Hours/week
    50 + 1 related

    Schedule J breakdown matched by us

    Base
    $390,750
    Bonus
    $84,325
    Other
    $30,480
    Deferred
    $33,000
    Nontaxable benefits
    $29,967
    Filer's total
    $568,522

  • Gary Korn

    CFO

    Total calculated
    $407,073
    From this org
    $351,166
    From related orgs
    $0
    Other
    $55,907
    Hours/week
    48 + 1 related

    Schedule J breakdown matched by us

    Base
    $290,168
    Bonus
    $42,504
    Other
    $18,494
    Deferred
    $33,000
    Nontaxable benefits
    $22,907
    Filer's total
    $407,073

  • Ashley Coburn

    CPO

    Total calculated
    $346,759
    From this org
    $288,502
    From related orgs
    $0
    Other
    $58,257
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $240,060
    Bonus
    $35,712
    Other
    $12,730
    Deferred
    $28,644
    Nontaxable benefits
    $29,613
    Filer's total
    $346,759

  • Ceason Barnick

    SR EXEC MGR - CUSTOMER RELATIONS

    Total calculated
    $298,853
    From this org
    $245,795
    From related orgs
    $0
    Other
    $53,058
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $210,197
    Bonus
    $21,641
    Other
    $13,957
    Deferred
    $24,300
    Nontaxable benefits
    $28,758
    Filer's total
    $298,853

  • Robert Christmas

    SR EXEC MGR - COMPLIANCE

    Total calculated
    $283,064
    From this org
    $235,603
    From related orgs
    $0
    Other
    $47,461
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $193,806
    Bonus
    $22,201
    Other
    $19,596
    Deferred
    $22,981
    Nontaxable benefits
    $24,480
    Filer's total
    $283,064

  • Krista Davis

    SR EXEC MGR - MARKETING

    Total calculated
    $287,290
    From this org
    $235,377
    From related orgs
    $0
    Other
    $51,913
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $195,703
    Bonus
    $26,996
    Other
    $12,678
    Deferred
    $23,267
    Nontaxable benefits
    $28,646
    Filer's total
    $287,290

  • Robert Russell

    EXEC ENGINEER - COMMUNICATION TECHNOLOGY

    Total calculated
    $293,245
    From this org
    $256,376
    From related orgs
    $0
    Other
    $36,869
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,534
    Bonus
    $21,652
    Other
    $15,190
    Deferred
    $24,760
    Nontaxable benefits
    $12,109
    Filer's total
    $293,245

  • Jeffrey Strahl

    EXEC MGR - INFORMATION TECHNOLOGY

    Total calculated
    $293,760
    From this org
    $239,735
    From related orgs
    $0
    Other
    $54,025
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $205,159
    Bonus
    $20,927
    Other
    $13,649
    Deferred
    $23,837
    Nontaxable benefits
    $30,188
    Filer's total
    $293,760

  • William Nichols

    EXEC MGR - POWER SUPPLY

    Total calculated
    $268,577
    From this org
    $221,681
    From related orgs
    $0
    Other
    $46,896
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $201,078
    Bonus
    $20,052
    Other
    $551
    Deferred
    $22,868
    Nontaxable benefits
    $24,028
    Filer's total
    $268,577

  • Zachary Taylor

    EXEC MGR - ENGINEERING

    Total calculated
    $255,230
    From this org
    $208,696
    From related orgs
    $0
    Other
    $46,534
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,886
    Bonus
    $18,205
    Other
    $12,605
    Deferred
    $20,363
    Nontaxable benefits
    $26,171
    Filer's total
    $255,230

  • Richard McKinney

    EXEC MGR - OPERATIONS

    Total calculated
    $237,618
    From this org
    $194,908
    From related orgs
    $0
    Other
    $42,710
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $161,361
    Bonus
    $16,756
    Other
    $16,791
    Deferred
    $19,093
    Nontaxable benefits
    $23,617
    Filer's total
    $237,618

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

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.

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 $1,398 · assets $1,876,810

    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 $4,351,024 · share of assets $4,625,516 · controlled entity

    Directly controlled by GUADALUPE VALLEY ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349312041

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