Copper Valley Electric Association Inc
- Assets
- $86.4m
- Revenue
- $30.4m
- Investments
- $1.5m
- Employees
- 54
- Location
- Glennallen, AK
- Founding
- 11/1963
- Data as of
- 12/2023
- EIN
- 92-0023631
Organization Overview
Copper Valley Electric Association Inc is located in Glennallen, AK. The organization was established in 1963. 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, Copper Valley Electric Association Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Copper Valley Electric Association 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, Copper Valley Electric Association Inc generated $30.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $29.0m during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 6 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 EXCEPTIONAL CUSTOMER SERVICE THROUGH SAFE, RELIABLE, COST-EFFECTIVE, ELECTRIC SERVICES AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY TO 3,966 MEMBER CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lon Rake President | OfficerTrustee | 3 | $6,750 |
Mark Shorten Director | Trustee | 3 | $5,125 |
Andrew Hess Director | Trustee | 3 | $2,875 |
Jeff Saxe Director | Trustee | 3 | $4,000 |
Janice Maslen Director | Trustee | 3 | $4,375 |
Paul Kildal Director | Trustee | 3 | $2,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barnett Building Building | 12/30/23 | $1,429,774 |
Talus Enterprises Llc Rights Of Way | 12/30/23 | $606,988 |
Top Notch Tree Removal Llc Rights Of Way | 12/30/23 | $179,934 |
Gumfory Underground Locating | 12/30/23 | $124,846 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,423,280 |
| 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 | $1,423,280 |
| Total Program Service Revenue | $28,684,903 |
| Investment income | $270,953 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $65,540 |
| 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 | $30,444,676 |
| 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 | $271,490 |
| Compensation of current officers, directors, key employees. | $890,595 |
| Compensation of current officers, directors, key employees. | $890,595 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,431,653 |
| Pension plan accruals and contributions | $1,366,081 |
| Other employee benefits | $589,946 |
| Payroll taxes | $1,437,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $115,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $101,956 |
| Office expenses | $42,307 |
| 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 | $1,728,041 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,408,785 |
| Insurance | $778,000 |
| All other expenses | $0 |
| Total functional expenses | $28,955,855 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $700 |
| Savings and temporary cash investments | $8,227,651 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,283,537 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | -$35,968 |
| Inventories for sale or use | $2,950,121 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $69,047,510 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,517,062 |
| Investments—program-related | $0 |
| Intangible assets | $9,000 |
| Other assets | $2,378,507 |
| Total assets | $86,378,120 |
| Accounts payable and accrued expenses | $2,293,978 |
| 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 | $46,106,832 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,774,225 |
| Total liabilities | $62,175,035 |
| 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 | $2,985 |
| Retained earnings, endowment, accumulated income, or other funds | $24,200,100 |
| Total liabilities and net assets/fund balances | $86,378,120 |