- Revenue 2024
- $907,031,155
- Expenses 2024
- $882,172,109
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
As filed
- Subsection
- 12
- Classification
- 4000
- Street
- 10323 LOMOND DR
These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).
Mission and programs · 2024
Mission
Creating value for its members, employees and communities by providing safe, reliable electricity and quality products at competitive prices. Distribution of Electricity (182,074 Meters/Customers)
Activities or mission (Part I)
Our mission is creating value for its members, employees and communities by providing safe, reliable electricity and quality products at competitive prices; serving approximately 182,074 meters/customers.
-
Provide affordable service to its 182,074 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $15.9M in patronage capital; connected 1,837 meters and completed $140M in net new construction during the fiscal year.
Expenses $882,172,109 · Revenue $887,403,034
As filed on the 2024 return.
Officers and directors · 2024
As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.
-
David Schleicher
President and CEO
- Total calculated
- $890,306
- From this org
- $805,090
- From related orgs
- $0
- Other
- $85,216
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $725,380
- Bonus
- $50,000
- Other
- $29,710
- Deferred
- $37,731
- Nontaxable benefits
- $47,485
- Filer's total
- $890,306
-
Wilbur Rollins
Sr VP Finance
- Total calculated
- $554,824
- From this org
- $433,984
- From related orgs
- $0
- Other
- $120,840
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $373,549
- Bonus
- $55,000
- Other
- $5,435
- Deferred
- $10,350
- Nontaxable benefits
- $110,490
- Filer's total
- $554,824
-
Patrick Toulme
VP and Corporate Counsel
- Total calculated
- $553,481
- From this org
- $416,382
- From related orgs
- $0
- Other
- $137,099
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $353,386
- Bonus
- $53,000
- Other
- $9,996
- Deferred
- $11,940
- Nontaxable benefits
- $125,159
- Filer's total
- $553,481
-
Arnold Singleton
VP Engineering
- Total calculated
- $502,331
- From this org
- $415,036
- From related orgs
- $0
- Other
- $87,295
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $355,713
- Bonus
- $56,000
- Other
- $3,322
- Deferred
- $28,025
- Nontaxable benefits
- $59,269
- Filer's total
- $502,329
-
Thomas Pierpoint Jr
VP Operations
- Total calculated
- $495,590
- From this org
- $430,066
- From related orgs
- $0
- Other
- $65,524
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $363,054
- Bonus
- $56,000
- Other
- $11,012
- Deferred
- $29,775
- Nontaxable benefits
- $35,748
- Filer's total
- $495,589
-
Gilbert Jaramillo
VP
- Total calculated
- $487,231
- From this org
- $364,737
- From related orgs
- $0
- Other
- $122,494
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $321,634
- Bonus
- $40,000
- Other
- $3,102
- Deferred
- $11,035
- Nontaxable benefits
- $111,459
- Filer's total
- $487,230
-
Joyce Johnson
VP Human Resources
- Total calculated
- $411,366
- From this org
- $324,828
- From related orgs
- $0
- Other
- $86,538
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $316,880
- Bonus
- $5,000
- Other
- $2,947
- Deferred
- $27,905
- Nontaxable benefits
- $58,633
- Filer's total
- $411,365
-
Lisa Hooker
VP Public Relations
- Total calculated
- $394,673
- From this org
- $334,901
- From related orgs
- $0
- Other
- $59,772
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $297,933
- Bonus
- $34,000
- Other
- $2,970
- Deferred
- $22,634
- Nontaxable benefits
- $37,137
- Filer's total
- $394,674
-
Daniel Swingle
VP Electric System Operations
- Total calculated
- $367,666
- From this org
- $273,013
- From related orgs
- $0
- Other
- $94,653
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $231,149
- Bonus
- $40,000
- Other
- $1,864
- Deferred
- $5,681
- Nontaxable benefits
- $88,972
- Filer's total
- $367,666
-
John Rainey
Manager Special Projects
- Total calculated
- $321,795
- From this org
- $237,595
- From related orgs
- $0
- Other
- $84,200
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $201,397
- Bonus
- $27,468
- Other
- $8,730
- Deferred
- $4,900
- Nontaxable benefits
- $79,300
- Filer's total
- $321,795
-
James Sirmons
Technician
- Total calculated
- $286,899
- From this org
- $232,358
- From related orgs
- $0
- Other
- $54,541
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $213,199
- Bonus
- $6,413
- Other
- $12,746
- Deferred
- $20,077
- Nontaxable benefits
- $34,464
- Filer's total
- $286,899
-
Kyle R Sarvis
Lead Line Technician
- Total calculated
- $285,977
- From this org
- $219,256
- From related orgs
- $0
- Other
- $66,721
- Hours/week
- 73
Schedule J breakdown matched by us
- Base
- $217,089
- Bonus
- $1,986
- Other
- $180
- Deferred
- $6,781
- Nontaxable benefits
- $59,940
- Filer's total
- $285,976
-
Howard Spinner
Manager Regulatory and Rates
- Total calculated
- $284,116
- From this org
- $214,140
- From related orgs
- $0
- Other
- $69,976
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $185,202
- Bonus
- $24,155
- Other
- $4,783
- Deferred
- $6,332
- Nontaxable benefits
- $63,645
- Filer's total
- $284,117
-
Michael Hudak
Service Technician
- Total calculated
- $279,285
- From this org
- $215,620
- From related orgs
- $0
- Other
- $63,665
- Hours/week
- 68
Schedule J breakdown matched by us
- Base
- $210,075
- Bonus
- $2,999
- Other
- $2,546
- Deferred
- $17,863
- Nontaxable benefits
- $45,803
- Filer's total
- $279,286
-
Gerald Gardner
Lead Line Technician
- Total calculated
- $266,495
- From this org
- $224,414
- From related orgs
- $0
- Other
- $42,081
- Hours/week
- 80
Schedule J breakdown matched by us
- Base
- $221,059
- Bonus
- $3,020
- Other
- $335
- Deferred
- $6,736
- Nontaxable benefits
- $35,345
- Filer's total
- $266,495
-
Heather V Anderson
Manager System Engineering
- Total calculated
- $264,310
- From this org
- $223,223
- From related orgs
- $0
- Other
- $41,087
- Hours/week
- 42
Schedule J breakdown matched by us
- Base
- $197,156
- Bonus
- $24,538
- Other
- $1,529
- Deferred
- $19,105
- Nontaxable benefits
- $21,982
- Filer's total
- $264,310
-
Grove Walter R
Past Director
- Total calculated
- $52,680
- From this org
- $51,000
- From related orgs
- $0
- Other
- $1,680
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $51,000
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $51,000
-
Michael E Ragan
Secretary
- Total calculated
- $48,462
- From this org
- $42,331
- From related orgs
- $0
- Other
- $6,131
- Hours/week
- 1.23
-
Cynthia Gilbride
Treasurer
- Total calculated
- $47,990
- From this org
- $42,095
- From related orgs
- $0
- Other
- $5,895
- Hours/week
- 1.04
-
James Chesley
Vice Chairman
- Total calculated
- $47,842
- From this org
- $42,021
- From related orgs
- $0
- Other
- $5,821
- Hours/week
- 1.35
-
Wade C House
Chairman
- Total calculated
- $47,740
- From this org
- $41,970
- From related orgs
- $0
- Other
- $5,770
- Hours/week
- 1.27
-
Brent George
Director
- Total calculated
- $46,190
- From this org
- $41,795
- From related orgs
- $0
- Other
- $4,395
- Hours/week
- 0.92
-
Mark Bruno
Director
- Total calculated
- $46,190
- From this org
- $41,795
- From related orgs
- $0
- Other
- $4,395
- Hours/week
- 0.92
-
Cleil W Albrite Jr
Director
- Total calculated
- $46,190
- From this org
- $41,795
- From related orgs
- $0
- Other
- $4,395
- Hours/week
- 0.92
-
Middleton Edith
Past Director's Wife
- Total calculated
- $17,426
- From this org
- $16,166
- From related orgs
- $0
- Other
- $1,260
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $0
- Bonus
- $0
- Other
- $16,166
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $16,166
The first 25 listed. 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. Earlier years are each on their own filing page.
Filings
-
2024
- Revenue
- $907,031,155
- Expenses
- $882,172,109
- Contributions
- $0
- Grants paid
- $0
-
2023
- Revenue
- $875,409,915
- Expenses
- $858,829,865
- Contributions
- $0
- Grants paid
- $0
-
2022
- Revenue
- $998,080,039
- Expenses
- $986,247,208
- Contributions
- $0
- Grants paid
- $0
The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.
Other returns filed
-
2021 · 990
- Revenue
- $676,666,779
- Expenses
- $649,621,354
- Assets (EOY)
- $1,071,859,351
-
2020 · 990
- Revenue
- $525,186,117
- Expenses
- $502,786,889
- Assets (EOY)
- $1,023,743,827
-
2019 · 990
- Revenue
- $574,780,360
- Expenses
- $549,302,662
- Assets (EOY)
- $990,050,799
-
2018 · 990
- Revenue
- $538,762,673
- Expenses
- $520,272,079
- Assets (EOY)
- $930,331,339
-
2017 · 990
- Revenue
- $468,142,057
- Expenses
- $440,491,914
- Assets (EOY)
- $885,642,299
-
2016 · 990
- Revenue
- $437,707,158
- Expenses
- $411,674,722
- Assets (EOY)
- $873,733,780
-
2015 · 990
- Revenue
- $471,960,206
- Expenses
- $451,674,125
- Assets (EOY)
- $854,427,969
-
2014 · 990
- Revenue
- $433,093,921
- Expenses
- $412,554,832
- Assets (EOY)
- $830,218,525
-
2013 · 990
- Revenue
- $396,961,196
- Expenses
- $373,065,288
- Assets (EOY)
- $845,936,929
-
2012 · 990
- Revenue
- not reported
- Expenses
- $389,548,576
- Assets (EOY)
- $790,834,438
Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.
Grants made
No itemized grants to organizations. Schedule I is filed only by organizations that granted more than $5,000 to a recipient, so most filers have none.
Grants received
No itemized grant names this organization as a recipient. Only grants over $5,000 are itemized, and only by filers of the full Form 990.
Taxable family
From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.
Related corporations and trusts on its 2024 return
-
NOVEC Holdings Inc
C · Holding Co of consol taxable entities · DE · 100% owned
-
NOVEC Energy Solutions Inc
C · Retail sale of Natural Gas · VA · 100% owned
-
NOVEC Solutions Inc
C · Sale of Home Gens, Water Heaters, Surge Protect Warr Plans, Elec Trsf Switches,Fbr Optic Leases · VA · 100% owned
-
South Boston Energy LLC dba NOVEC Energy Production Halifax Cty Biomass
C · 49 Megawatt Biomass generation power plant · VA · 100% owned
Other IRS files
Auto-Revocation List
Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.
Publication 78
Not present in the most recent drop.
These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.
What this page reflects
The registration facts above come from the IRS Business Master File published 13 October 2026 and read 1 November 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.