Shenandoah Valley Electric Cooperative Inc
- Assets
- $571.4m
- Revenue
- $240.8m
- Investments
- $0.0
- Employees
- 259
- Location
- Rockingham, VA
- Founding
- 08/1938
- Data as of
- 12/2021
- EIN
- 54-0377465
Organization Overview
Shenandoah Valley Electric Cooperative Inc is located in Rockingham, VA. The organization was established in 1938. 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 12/2021, Shenandoah Valley Electric Cooperative Inc employed 259 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shenandoah 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 12/2021, Shenandoah Valley Electric Cooperative Inc generated $240.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $235.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF SVEC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF SVEC. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 151,185,803 DEPRECIATION EXPENSE 21,276,450 OTHER SALARIES AND WAGES 21,103,353
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory S Rogers President & | Officer | 60 | $459,072 |
Jonathan M Aulgur Asst Sec/tre | Officer | 50 | $254,620 |
Wayne D Hannah Jr VP & Cio | 55 | $209,534 | |
Jason E Burch VP Engineeri | 50 | $169,433 | |
Tony Dean VP Operation | 40 | $164,328 | |
Michael Alexander Lead Lineman | 40 | $159,987 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xylem Tree Experts Tree Trimming | 12/30/21 | $5,575,797 |
Davis H Elliott Co R/w Constr | 12/30/21 | $4,225,175 |
Weed Control R/w Spraying | 12/30/21 | $1,447,842 |
Augusta Utilities Llc Line Install | 12/30/21 | $1,156,719 |
Cw Wright Work Orders | 12/30/21 | $1,864,630 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,967,000 |
| 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 | $3,967,000 |
| Total Program Service Revenue | $235,245,414 |
| Investment income | $251,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,323,629 |
| Net Gain/Loss on Asset Sales | -$36,199 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,751,246 |
| 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 | $11,949,892 |
| Compensation of current officers, directors, key employees. | $1,023,680 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,103,353 |
| Pension plan accruals and contributions | $2,752,252 |
| Other employee benefits | $0 |
| Payroll taxes | $1,745,365 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $747,993 |
| 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 | $3,149,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,867 |
| Interest | $10,538,601 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,276,450 |
| Insurance | $0 |
| All other expenses | -$10,400,623 |
| Total functional expenses | $235,270,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,749,812 |
| Savings and temporary cash investments | $45,803,175 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,467,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,537,117 |
| Prepaid expenses and deferred charges | $2,011,980 |
| Net Land, buildings, and equipment | $409,014,408 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $63,910,263 |
| Intangible assets | $0 |
| Other assets | $885,766 |
| Total assets | $571,380,010 |
| Accounts payable and accrued expenses | $16,832,038 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $336,727,671 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,803,385 |
| Total liabilities | $367,363,094 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $204,016,916 |
| Total liabilities and net assets/fund balances | $571,380,010 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Shenandoah Valley Electric Cooperative Inc has recieved totaling $72,570.
| Awarding Organization | Amount |
|---|---|
United Way Of Greater Richmond Richmond, VA PURPOSE: DONOR DIRECTS FUNDS(DESIGNATIONS) FOR ENERGY SHARE | $72,570 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Southern Maryland Electric Cooperative Inc Hughesville, MD | $1,114,931,504 | $461,053,058 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Energyunited Electric Membership Corporation Statesville, NC | $513,896,783 | $280,523,963 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |
Shenandoah Valley Electric Cooperative Inc Rockingham, VA | $571,380,010 | $240,751,246 |
Duck River Electric Membership Corporation Shelbyville, TN | $294,861,810 | $219,371,768 |