Central Valley Electric Cooperative Inc
- Assets
- $223.2m
- Revenue
- $72.0m
- Investments
- $3.8k
- Employees
- 92
- Location
- Artesia, NM
- Founding
- 09/1953
- Data as of
- 12/2023
- EIN
- 85-0027414
Organization Overview
Central Valley Electric Cooperative Inc is located in Artesia, NM. The organization was established in 1953. 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, Central Valley Electric Cooperative Inc employed 92 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central 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, Central Valley Electric Cooperative Inc generated $72.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $71.8m during the year ending 12/2023. While expenses have increased by 0.2% 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
TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 14,985 ACTIVE SERVICES AT YEAR END.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Wagner President | OfficerTrustee | 7.9 | $32,828 |
Michael Bennett Vice President | OfficerTrustee | 7.9 | $33,268 |
Wesley Pilley Secretary/treasurer | OfficerTrustee | 6.1 | $30,547 |
Jason Ciempa Trustee | Trustee | 4.9 | $30,118 |
Steve Spence Trustee | Trustee | 6 | $31,142 |
Larry Benedict Trustee | Trustee | 7.7 | $25,876 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arc Power-line Construction Construction Contractor | 12/30/23 | $943,139 |
Rma Engineering Llc Engineering Surveys | 12/30/23 | $181,373 |
Harcrow Surveying Engineering Surveys | 12/30/23 | $112,199 |
Deans Inc Construction Contractor | 12/30/23 | $625,277 |
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 | $71,336,039 |
| Investment income | $439,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $223,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,029,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,718 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $4,301,542 |
| Compensation of current officers, directors, key employees. | $1,010,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,820,898 |
| Pension plan accruals and contributions | $793,013 |
| Other employee benefits | $1,008,212 |
| Payroll taxes | $384,675 |
| 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 | $1,885,602 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,429,417 |
| Insurance | $0 |
| All other expenses | $246,924 |
| Total functional expenses | $71,836,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,854,130 |
| Savings and temporary cash investments | $12,512,559 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,429,562 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $258,437 |
| Inventories for sale or use | $7,712,088 |
| Prepaid expenses and deferred charges | $665,322 |
| Net Land, buildings, and equipment | $173,913,198 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,798 |
| Investments—program-related | $21,862,426 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $223,211,520 |
| Accounts payable and accrued expenses | $5,961,580 |
| 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 | $70,949,715 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,818,022 |
| Total liabilities | $98,729,317 |
| 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 | $124,482,203 |
| Total liabilities and net assets/fund balances | $223,211,520 |