Lower Valley Energy Inc
- Assets
- $312.1m
- Revenue
- $68.0m
- Investments
- $11.9m
- Employees
- 78
- Location
- Afton, WY
- Founding
- 12/1937
- Data as of
- 12/2021
- EIN
- 83-0129756
Organization Overview
Lower Valley Energy Inc is located in Afton, WY. The organization was established in 1937. 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, Lower Valley Energy Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lower Valley Energy 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, Lower Valley Energy Inc generated $68.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $65.1m during the year ending 12/2021. While expenses have increased by 3.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES ELECTRICITY AND NATURAL GAS TO RURAL MEMBERS ON A NOT-FOR-PROFIT COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, THE COOPERATIVE PROVIDED ELECTRICITY AND NATURAL GAS UTILITY SERVICE TO ITS MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James R Webb Presidentchief Executive Off | Officer | 50 | $372,521 |
Richard Knori Director Of Engineering | 45 | $240,030 | |
Jon Hougland Staff Assistant | 45 | $164,959 | |
Mallory Winters Electric Foreman | 50 | $156,457 | |
Craig Coles Director Of Gas Operations | 50 | $145,074 | |
Larry Bowlin Lineman | 50 | $144,233 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dynalectric Company Dba Wasatch Ele Construction | 12/30/21 | $977,642 |
Hot Shot Powerline Construction Construction | 12/30/21 | $1,096,164 |
Star Valley Utilities Construction | 12/30/21 | $314,020 |
Vista Tree Care Llc Construction | 12/30/21 | $122,105 |
Mountain Pass Electric Construction | 12/30/21 | $247,397 |
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 | $67,831,852 |
| Investment income | $144,746 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $67,991,433 |
| 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 | $5,106,797 |
| Compensation of current officers, directors, key employees. | $916,653 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,734,893 |
| Pension plan accruals and contributions | $1,325,349 |
| Other employee benefits | $1,538,345 |
| Payroll taxes | $596,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,520 |
| Fees for services: Accounting | $15,800 |
| 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 | $7,213,182 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,375,228 |
| Insurance | $357,002 |
| All other expenses | -$2,825,008 |
| Total functional expenses | $65,072,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,720,580 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,779,055 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,406,762 |
| Prepaid expenses and deferred charges | $90,880,644 |
| Net Land, buildings, and equipment | $108,825,985 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,942,383 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,559,571 |
| Total assets | $312,114,980 |
| Accounts payable and accrued expenses | $4,737,073 |
| 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 | $191,302,614 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,847,681 |
| Total liabilities | $215,887,368 |
| 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 | $96,227,612 |
| Total liabilities and net assets/fund balances | $312,114,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Moon Lake Electric Association Inc Roosevelt, UT | $157,473,371 | $84,270,268 |
High Plains Power Inc Riverton, WY | $149,704,644 | $74,809,988 |
Delta-Montrose Electric Association Montrose, CO | $233,268,073 | $81,764,019 |
Yampa Valley Electric Association Inc Steamboat Springs, CO | $179,531,578 | $73,016,013 |
Lower Valley Energy Inc Afton, WY | $312,114,980 | $67,991,433 |
San Isabel Electric Association Inc Pueblo, CO | $183,301,456 | $59,570,758 |
High West Energy Inc Pine Bluffs, WY | $157,339,453 | $55,691,852 |
Kootenai Electric Cooperative Inc Hayden, ID | $200,587,122 | $58,518,255 |
Empire Electric Association Inc Cortez, CO | $122,070,999 | $55,026,165 |
Highline Electric Association Holyoke, CO | $120,404,773 | $52,509,823 |