Copper Valley Electric Association Inc
- Assets
- $79.2m
- Revenue
- $26.2m
- Investments
- $1.4m
- Employees
- 48
- Location
- Glennallen, AK
- Founding
- 11/1963
- Data as of
- 12/2021
- 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 12/2021, Copper Valley Electric Association Inc employed 48 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 12/2021, Copper Valley Electric Association Inc generated $26.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $26.1m during the year ending 12/2021. While expenses have increased by 4.6% 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
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 3,931 MEMBER CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Million CEO | Officer | 55 | $222,850 |
Jaime Matthews CFO | Officer | 45 | $178,808 |
Donald Mckinzey Dir. Of Power Supply | 45 | $171,573 | |
Dirk Williams Line Foreman | 50 | $164,586 | |
Walter Lynch Lineman | 50 | $160,976 | |
Michael Rego Chief Plant Operator | 46 | $150,066 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Speciality Engineering Inc Contractor | 12/30/21 | $259,321 |
Kleinschmidt Associates Contractor | 12/30/21 | $178,775 |
Electric Power Constructors Contractor | 12/30/21 | $371,775 |
Talus Enterprises Llc Contractor | 12/30/21 | $488,401 |
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 | $26,069,788 |
| Investment income | $19,769 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,676 |
| 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 | $26,151,233 |
| 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 | $1,628,435 |
| Compensation of current officers, directors, key employees. | $420,033 |
| Compensation of current officers, directors, key employees. | $420,033 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,462,024 |
| Pension plan accruals and contributions | $1,315,521 |
| Other employee benefits | $483,739 |
| Payroll taxes | $1,310,392 |
| 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 | $70,836 |
| Office expenses | $40,567 |
| 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 | $1,704,682 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,240,648 |
| Insurance | $704,597 |
| All other expenses | $0 |
| Total functional expenses | $26,089,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $701 |
| Savings and temporary cash investments | $5,402,025 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,090,323 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | -$58,179 |
| Inventories for sale or use | $2,150,754 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $65,315,485 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,383,376 |
| Investments—program-related | $0 |
| Intangible assets | $9,000 |
| Other assets | $2,874,869 |
| Total assets | $79,168,354 |
| Accounts payable and accrued expenses | $2,699,864 |
| 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 | $40,105,441 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,134,850 |
| Total liabilities | $55,940,155 |
| 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 | $23,225,214 |
| Total liabilities and net assets/fund balances | $79,168,354 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homer Electric Association Inc Homer, AK | $266,114,703 | $113,967,382 |
Inland Power & Light Co Spokane, WA | $298,221,337 | $90,911,502 |
Breakthrough Energy Foundation Kirkland, WA | $272,263,093 | $53,009,802 |
Peninsula Light Company Inc Gig Harbor, WA | $206,412,044 | $64,241,054 |
Alaska Village Electric Cooperative Inc Anchorage, AK | $149,755,137 | $62,136,237 |
Benton Rural Electric Association Prosser, WA | $100,163,870 | $44,244,946 |
Big Bend Electric Cooperative Inc Ritzville, WA | $77,547,194 | $40,611,913 |
Orcas Power & Light Cooperative Eastsound, WA | $113,042,035 | $35,371,006 |
Columbia Rural Electric Association Inc Walla Walla, WA | $105,545,364 | $36,917,429 |
Barrow Utilities & Electric Coopera Barrow, AK | $51,955,747 | $30,800,786 |
Peak Reliability Vancouver, WA | $0 | $48,178 |
Copper Valley Electric Association Inc Glennallen, AK | $79,168,354 | $26,151,233 |