Twin Valley Electric Cooperative Inc
- Assets
- $32.4m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Altamont, KS
- Founding
- 01/1955
- Data as of
- 12/2023
- EIN
- 48-0506619
Organization Overview
Twin Valley Electric Cooperative Inc is located in Altamont, KS. The organization was established in 1955. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Twin Valley Electric Cooperative Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Valley Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Twin Valley Electric Cooperative Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $6.6m during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING SAFE, RELIABLE ENERGY SERVICES AND ENHANCING THE QUALITY OF LIFE FOR OUR MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN VALLEY ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT PROVIDED APPROXIMATELY 2,900 SERVICES TO ITS APPROXIMATELY 1,960 MEMBERS LOCATED IN SOUTHEAST KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Erickson CEO | Officer | 42 | $167,300 |
Rebecca Hanigan CFO | Officer | 42 | $115,254 |
Adam Myers Line Superintendent | 44 | $110,251 | |
Bryan Hucke Secretary | Trustee | 1.29 | $2,410 |
Larry D Hubbell Board Vice President | Trustee | 0.88 | $1,960 |
Bryan Coover Board President | Trustee | 0.85 | $1,410 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anixter Materials Supplier | 12/30/23 | $372,837 |
Kansas Electric Power Cooperative Power Supplier | 12/30/23 | $2,752,940 |
Jk Fencing Llc Right Of Way Clear | 12/30/23 | $126,000 |
Kansas Electric Cooperatives State Wide Associa | 12/30/23 | $103,774 |
Labette County Treasurer Property Tax Vehic | 12/30/23 | $296,753 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,543,755 |
| Investment income | $9,020 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,886 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,561,456 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $267,158 |
| Compensation of current officers, directors, key employees. | $397,175 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $143,232 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $648,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $931,562 |
| Insurance | $0 |
| All other expenses | $492 |
| Total functional expenses | $6,561,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,840 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $537,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $237,326 |
| Inventories for sale or use | $280,161 |
| Prepaid expenses and deferred charges | $141,364 |
| Net Land, buildings, and equipment | $28,695,837 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,303,395 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,432,412 |
| Accounts payable and accrued expenses | $859,696 |
| Grants payable | $0 |
| Deferred revenue | $165,167 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,378,428 |
| Unsecured mortgages and notes payable | $810,000 |
| Other liabilities | $0 |
| Total liabilities | $23,213,291 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $649,199 |
| Retained earnings, endowment, accumulated income, or other funds | $8,569,922 |
| Total liabilities and net assets/fund balances | $32,432,412 |