Valley Electric Association Inc
- Assets
- $340.3m
- Revenue
- $84.5m
- Investments
- $0.0
- Employees
- 181
- Location
- Pahrump, NV
- Founding
- Data as of
- 12/2019
- EIN
- 88-0089964
Valley Electric Association Inc Overview
Valley Electric Association Inc is located in Pahrump, NV. As of 12/2019, Valley Electric Association Inc employed 181 individuals.
For the year ending 12/2019, Valley Electric Association Inc generated $84.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (13.1%) each year. All expenses for the organization totaled $89.3m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (15.8%) per year over the past 2 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AND RELIABLE ELECTRIC AND INTERNET SERVICE TO MEMBERS OF THE COOPERATIVE.
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 23,065 ACTIVE SERVICES AT YEAR END.
PRIOR TO THE MEMBERSHIP APPROVED BYLAW AMENDMENTS IN 2018, THE COOPERATIVE PROVIDED INTERNET/BROADBAND SERVICES TO ALL SUBSCRIBERS ON A NON-PATRONAGE AND UNRELATED BUSINESS INCOME BASIS. ONE OF THE MEMBERSHIP APPROVED BYLAW AMENDMENTS IS TO PROVIDE INTERNET/BROADBAND SERVICES TO MEMBERS ON A PATRONAGE, NONPROFIT BASIS. THEREFORE, THE COOPERATIVE HAS EXPANDED ITS EXEMPT PURPOSES TO INCLUDE THE PROVISION OF INTERNET/BROADBAND SERVICES TO MEMBERS ON A PATRONAGE BASIS. SUCH SERVICES CONTINUE TO BE PROVIDED TO NON-MEMBERS ON A NON-PATRONAGE BASIS. APPROXIMATELY 10,154 MEMBERS PURCHASED INTERNET/BROADBAND SERVICES DURING 2019.
Do You Work With Nonprofits?Intellispect helps service providers identify nonprofit prospects and make contact with decision makers.
Valley Electric Association Inc Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Peck CEO | Officer | 40 | $313,521 |
Angela Evans CEO (jan-July) | Officer | 40 | $309,330 |
Bart Thurgood Evp Human Resources | Officer | 40 | $292,317 |
Tom Husted CEO (jan) | Officer | 40 | $287,508 |
Steve Morrison CFO | Officer | 45 | $244,405 |
Nathan Johnson Evp Broadband | Officer | 45 | $241,946 |
Valley Electric Association Inc Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Par Electrical Contractors Inc Line Construction | 12/30/19 | $1,432,576 |
Pride Communications Inc Fiber Installation | 12/30/19 | $298,982 |
Davison Van Cleve Pc Attorney Fees | 12/30/19 | $581,003 |
Jaco Construction Inc Line Construction | 12/30/19 | $856,558 |
Hdr Engineering Services | 12/30/19 | $267,063 |
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 | $84,813,768 |
| Investment income | $175,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $344,479 |
| Net Gain/Loss on Asset Sales | -$931,514 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$82,823 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,469,530 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,013 |
| Grants and other assistance to domestic individuals. | $39,187 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $569,099 |
| Compensation of current officers, directors, key employees. | $3,704,670 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,906,926 |
| Pension plan accruals and contributions | $2,477,294 |
| Other employee benefits | $2,210,131 |
| Payroll taxes | $729,378 |
| 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 | $10,693,032 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,930,416 |
| Insurance | $0 |
| All other expenses | $1,566,781 |
| Total functional expenses | $89,328,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,809,307 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,668,939 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,173,323 |
| Inventories for sale or use | $4,529,946 |
| Prepaid expenses and deferred charges | $62,614,220 |
| Net Land, buildings, and equipment | $248,429,701 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,302,716 |
| Intangible assets | $0 |
| Other assets | $2,770,664 |
| Total assets | $340,298,816 |
| Accounts payable and accrued expenses | $11,503,729 |
| 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 | $244,290,312 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,387,718 |
| Total liabilities | $262,181,759 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $192,270 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $77,924,787 |
| Total liabilities and net assets/fund balances | $340,298,816 |
Valley Electric Association Inc Grants Recieved
Over the last fiscal year, we have identified 1 grants that Valley Electric Association Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Fengzheng Cultural Foundation Frankfort, KY PURPOSE: EDUCATION | $2,000 |
Valley Electric Association Inc Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chg Foundation Chula Vista, CA | $612,637,175 | $943,115,999 |
Phoenix Childrens Hospital Phoenix, AZ | $1,698,002,089 | $1,040,240,354 |
Compassion International Incorporated Colorado Springs, CO | $364,011,907 | $953,223,395 |
Chp Of Washington Seattle, WA | $459,344,358 | $939,382,290 |
Childrens Hospital Of Orange County Orange, CA | $1,359,092,221 | $992,003,540 |
Loma Linda Mercantile Loma Linda, CA | $3,629,563 | $892,175,868 |
Motion Picture H&w Fund Studio City, CA | $1,345,522,539 | $874,040,646 |
Western Governors University Salt Lake City, UT | $519,060,075 | $922,496,445 |
Renown Regional Medical Center Reno, NV | $920,238,119 | $918,236,960 |
Providence Health Assurance Renton, WA | $462,536,066 | $885,904,645 |
Scl Health - Front Range Inc Broomfield, CO | $730,812,650 | $897,584,146 |
Asante Medford, OR | $1,867,375,413 | $928,596,728 |
Create a Free Account