Skip to content
Nonprofiteer
← TRINITY VALLEY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by TRINITY VALLEY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$201,369,793
Total expenses
$200,552,254
Contributions and grants received
$0
Grants paid
$5,242
Program service revenue
$199,721,070
Investment income
$210,596
Other revenue
$1,438,127
Total assets, end of year
$429,806,254
Total liabilities, end of year
$240,157,589
Net assets or fund balances, end of year
$189,648,665
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 $189,875,606 · related or exempt $189,875,606

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $7,679,179 · related or exempt $7,679,179

  • 2c · Program service revenue: SERVICE FEES

    total $1,323,116 · related or exempt $1,323,116

  • 2d · Program service revenue: TRANSMISSION WHEELING

    total $843,169 · related or exempt $843,169

  • 3 · Investment income

    total $68,293 · excluded $68,293

  • 7a · Gross sales of assets other than inventory

    other assets $155,203

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

    other assets $12,900

  • 7c · Gain or loss

    other assets $142,303

  • 7d · Net gain or loss

    total $142,303 · related or exempt $142,303

  • 10a · Gross sales of inventory

    $2,410

  • 10b · Cost of goods sold

    $1,003

  • 10c · Net income from sales of inventory

    total $1,407 · related or exempt $1,407

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $831,184 · excluded $831,184

  • 11b · Other revenue: BOND SECURITIZATION P'SHIP INCOME

    total $605,536 · excluded $605,536

  • 11e · Other revenue, total

    $1,436,720

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,242

  • 4 · Benefits paid to or for members

    total $7,632,537

  • 5 · Compensation of officers, directors and key employees

    total $3,058,828

  • 7 · Other salaries and wages

    total $9,554,090

  • 8 · Pension plan contributions

    total $1,109,637

  • 9 · Other employee benefits

    total $3,183,956

  • 10 · Payroll taxes

    total $822,738

  • 20 · Interest

    total $8,119,959

  • 22 · Depreciation, depletion and amortization

    total $15,683,862

  • 24a · Other expenses: PURCHASED POWER

    total $132,742,247

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $11,372,004

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $4,322,304

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $2,202,573

  • 24e · All other expenses

    total $742,277

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,388,364 · end of year $1,359,111

  • 2 · Savings and temporary cash investments

    beginning of year $750,031 · end of year $750,031

  • 4 · Accounts receivable

    beginning of year $8,040,366 · end of year $9,319,503

  • 8 · Inventories for sale or use

    beginning of year $1,410,496 · end of year $1,154,641

  • 9 · Prepaid expenses and deferred charges

    beginning of year $854,295 · end of year $4,679,150

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

    $483,780,394

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

    $147,034,365

  • 10c · Land, buildings and equipment, net

    beginning of year $336,700,079 · end of year $336,746,029

  • 13 · Investments: program-related

    beginning of year $64,554,907 · end of year $71,469,855

  • 15 · Other assets

    beginning of year $4,339,081 · end of year $4,327,934

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,085,880 · end of year $19,839,289

  • 21 · Escrow or custodial account liability

    beginning of year $786,818 · end of year $791,228

  • 23 · Secured mortgages and notes payable

    beginning of year $158,329,976 · end of year $171,692,027

  • 25 · Other liabilities

    beginning of year $41,428,544 · end of year $47,835,045

  • 29 · Capital stock, trust principal or current funds

    beginning of year $682,620 · end of year $695,850

  • 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 $187,723,781 · end of year $188,952,815

Mission and programs · 2023

Mission

TRINITY VALLEY ELECTRIC COOPERATIVE, INC. IS COMMITTED TO DELIVER SAFE AND RELIABLE ELECTRIC POWER AT A COMPETITIVE PRICE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 84,867 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Howard Tillison

    CHAIRMAN

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    14.9

  • Carolyn Minor

    VICE CHAIRMAN

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jo Ann Hanstrom

    SECRETARY

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.5

  • Jeff Priest

    DIRECTOR

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.1

  • Edward Reeve

    DIRECTOR

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.3

  • Paul Weatherford

    DIRECTOR

    Total calculated
    $29,282
    From this org
    $29,282
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.3

  • Jack Endres

    DIRECTOR

    Total calculated
    $10,650
    From this org
    $10,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Jeffrey Lane

    CEO/GENERAL MANAGER

    Total calculated
    $524,514
    From this org
    $347,402
    From related orgs
    $0
    Other
    $177,112
    Hours/week
    50 + 2 related

    Schedule J breakdown matched by us

    Base
    $324,729
    Bonus
    $2,747
    Other
    $19,926
    Deferred
    $140,559
    Nontaxable benefits
    $36,553
    Filer's total
    $524,514

  • Thomas Watson

    COO/ASST. GENERAL MANAGER

    Total calculated
    $416,330
    From this org
    $257,582
    From related orgs
    $0
    Other
    $158,748
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $241,241
    Bonus
    $2,397
    Other
    $13,944
    Deferred
    $124,328
    Nontaxable benefits
    $34,420
    Filer's total
    $416,330

  • Robert White

    CFO

    Total calculated
    $224,077
    From this org
    $177,656
    From related orgs
    $0
    Other
    $46,421
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $174,587
    Bonus
    $2,372
    Other
    $697
    Deferred
    $13,152
    Nontaxable benefits
    $33,269
    Filer's total
    $224,077

  • Rodney Wesley

    DIRECTOR OF ENGINEERING/OPERATIONS

    Total calculated
    $327,588
    From this org
    $198,972
    From related orgs
    $0
    Other
    $128,616
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $187,699
    Bonus
    $372
    Other
    $10,901
    Deferred
    $115,025
    Nontaxable benefits
    $13,591
    Filer's total
    $327,588

  • Gary Sherrard

    MANAGER OF SUB/TRANS

    Total calculated
    $280,361
    From this org
    $166,716
    From related orgs
    $0
    Other
    $113,645
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,965
    Bonus
    $2,372
    Other
    $10,379
    Deferred
    $89,782
    Nontaxable benefits
    $23,863
    Filer's total
    $280,361

  • Donna Hindman

    DIRECTOR OF CORP SERVICES

    Total calculated
    $235,094
    From this org
    $168,420
    From related orgs
    $0
    Other
    $66,674
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,372
    Bonus
    $2,576
    Other
    $2,472
    Deferred
    $53,430
    Nontaxable benefits
    $13,244
    Filer's total
    $235,094

  • Thomas Durden

    MANAGER OF OPERATIONS

    Total calculated
    $259,453
    From this org
    $166,329
    From related orgs
    $0
    Other
    $93,124
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $152,951
    Bonus
    $2,426
    Other
    $10,952
    Deferred
    $68,571
    Nontaxable benefits
    $24,553
    Filer's total
    $259,453

  • Timothy Craig

    MANAGER OF ENGINEERING

    Total calculated
    $219,580
    From this org
    $165,036
    From related orgs
    $0
    Other
    $54,544
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $161,446
    Bonus
    $1,426
    Other
    $2,164
    Deferred
    $40,770
    Nontaxable benefits
    $13,774
    Filer's total
    $219,580

  • Phillip Harrison

    MANAGER OF OPERATIONS

    Total calculated
    $238,808
    From this org
    $164,122
    From related orgs
    $0
    Other
    $74,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,255
    Bonus
    $2,426
    Other
    $9,441
    Deferred
    $39,466
    Nontaxable benefits
    $35,220
    Filer's total
    $238,808

  • Bobbi Byford

    DIRECTOR OF CORP RELATIONS

    Total calculated
    $234,891
    From this org
    $169,106
    From related orgs
    $0
    Other
    $65,785
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,756
    Bonus
    $2,372
    Other
    $7,978
    Deferred
    $38,761
    Nontaxable benefits
    $27,024
    Filer's total
    $234,891

  • Raymond Choyce

    JOURNEYMAN

    Total calculated
    $229,515
    From this org
    $178,743
    From related orgs
    $0
    Other
    $50,772
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $175,407
    Bonus
    $1,472
    Other
    $1,864
    Deferred
    $30,387
    Nontaxable benefits
    $20,385
    Filer's total
    $229,515

  • John Jackson

    OPERATIONS SUPERVISOR

    Total calculated
    $220,553
    From this org
    $163,786
    From related orgs
    $0
    Other
    $56,767
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $148,069
    Bonus
    $2,426
    Other
    $13,291
    Deferred
    $33,529
    Nontaxable benefits
    $23,238
    Filer's total
    $220,553

  • Bryan Hicks

    JOURNEYMAN

    Total calculated
    $203,261
    From this org
    $162,687
    From related orgs
    $0
    Other
    $40,574
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $159,433
    Bonus
    $2,476
    Other
    $778
    Deferred
    $8,299
    Nontaxable benefits
    $32,275
    Filer's total
    $203,261

  • Rodney Mills

    CREW FOREMAN

    Total calculated
    $243,712
    From this org
    $161,522
    From related orgs
    $0
    Other
    $82,190
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $150,120
    Bonus
    $3,426
    Other
    $7,976
    Deferred
    $69,677
    Nontaxable benefits
    $12,513
    Filer's total
    $243,712

  • Paul Camacho

    CREW FOREMAN

    Total calculated
    $218,490
    From this org
    $160,900
    From related orgs
    $0
    Other
    $57,590
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $158,370
    Bonus
    $1,426
    Other
    $1,104
    Deferred
    $34,537
    Nontaxable benefits
    $23,053
    Filer's total
    $218,490

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JEFFREY L. LANE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 134,202 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,357 TOTAL REPORTED IN COLUMN C $ 140,559 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (134,202) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 65,329 EXPENSE TO THE COOPERATIVE $ 71,686 THOMAS A. WATSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 119,574 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,754 TOTAL REPORTED IN COLUMN C $ 124,328 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (119,574) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 48,908 EXPENSE TO THE COOPERATIVE $ 53,662 RODNEY WESLEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 111,408 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,617 TOTAL REPORTED IN COLUMN C $ 115,025 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (111,408) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,336 EXPENSE TO THE COOPERATIVE $ 40,953 GARY SHERRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 86,787 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,995 TOTAL REPORTED IN COLUMN C $ 89,782 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (86,787) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,708 EXPENSE TO THE COOPERATIVE $ 33,703 THOMAS DURDEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 65,578 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,993 TOTAL REPORTED IN COLUMN C $ 68,571 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (65,578) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,672 EXPENSE TO THE COOPERATIVE $ 33,665 RODNEY MILLS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 66,772 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,905 TOTAL REPORTED IN COLUMN C $ 69,677 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (66,772) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,313 EXPENSE TO THE COOPERATIVE $ 29,218 PHILLIP HARRISON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,498 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,968 TOTAL REPORTED IN COLUMN C $ 39,466 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,498) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,461 EXPENSE TO THE COOPERATIVE $ 30,429 DONNA HINDMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,184 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,246 TOTAL REPORTED IN COLUMN C $ 53,430 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,184) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,487 EXPENSE TO THE COOPERATIVE $ 36,733 BOBBI BYFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 35,530 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,231 TOTAL REPORTED IN COLUMN C $ 38,761 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (35,530) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,163 EXPENSE TO THE COOPERATIVE $ 35,394 RAYMOND CHOYCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,332 EMPLOYER CONTRIBUTION TO 401(K) PLAN 55 TOTAL REPORTED IN COLUMN C $ 30,387 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,332) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,513 EXPENSE TO THE COOPERATIVE $ 21,568 ROBERT WHITE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,313 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,839 TOTAL REPORTED IN COLUMN C $ 13,152 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,313) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,921 EXPENSE TO THE COOPERATIVE $ 37,760 JOHN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,597 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,932 TOTAL REPORTED IN COLUMN C $ 33,529 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,597) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,418 EXPENSE TO THE COOPERATIVE $ 32,350 TIMOTHY W. CRAIG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,770 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 40,770 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,770) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,290 EXPENSE TO THE COOPERATIVE $ 32,290 PAUL CAMACHO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,462 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,075 TOTAL REPORTED IN COLUMN C $ 34,537 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,462) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,584 EXPENSE TO THE COOPERATIVE $ 28,659 BRYAN HICKS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,206 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,093 TOTAL REPORTED IN COLUMN C $ 8,299 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,206) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,227 EXPENSE TO THE COOPERATIVE $ 22,320

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.

  • TVEC CHARITABLE FOUNDATION

    501(C)(3) · CHARITABLE GRANTS · TX · controlled entity

    Directly controlled by TRINITY VALLEY ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349311044

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

The source document this was parsed from is served over the API, which is where bulk and document access live.