Golden Valley Electric Assn Inc

Organization Overview

Golden Valley Electric Assn Inc is located in Fairbanks, AK. The organization was established in 1954. 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 12/2019, Golden Valley Electric Assn Inc employed 320 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Valley Electric Assn 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 12/2019, Golden Valley Electric Assn Inc generated $247.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $242.1m during the year ending 12/2019. While expenses have increased by 3.0% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

SEE SCHEDULE O

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE ELECTRIC POWER TO APPROXIMATELY 35,104 MEMBERS. ALL MEMBERS WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATIONS OF PATRONAGE CAPITAL.


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Board, Officers & Key Employees

Name (title)Compensation
Cory Borgeson
President & CEO
$458,532
John Burns
VP And General Counsel
$296,953
Gary Betsill
VP Operations
$293,799
Leo Quiachon
VP Engineering Services
$272,422
Ronald Woolf
VP Finance & CFO
$269,419
Peter Sarauer
Power Systems Manager
$216,489

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Alaska Land Clearing Contractors Ll
Land Clearing
$436,045
Millpro Llc
Technical Consulting
$281,927
Bdo Usa Llp
Auditing & Tax Svcs
$234,177
Mcdowell Rackner Gibson Pc
Legal Services
$282,545
Energie Consulting Services
Project Management
$306,408
View All Vendors

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$242,202,998
Investment income $3,686,825
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $512,482
Net Gain/Loss on Asset Sales $299,093
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $247,101,009

Grants Awarded

Over the last fiscal year, Golden Valley Electric Assn Inc has awarded $19,798 in support to 2 organizations.

Grant RecipientAmount

UNITED WAY OF THE TANANA VALLEY

Org PageRecipient Profile

Fairbanks, AK

PURPOSE: CHARITABLE CONTRIBUTION TO FUND ACTIVITIES IN THE LOCAL AREA

$14,798

INTERIOR ALASKA GREEN STAR

Org PageRecipient Profile

Fairbanks, AK

PURPOSE: ENVIRONMENTAL RECYCLING

$5,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Golden Valley Electric Assn Inc has recieved totaling $50,750.

Awarding OrganizationAmount
$50,750
View Grant Recipient Profile

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