2023-11-03T11:01:47-04:00 2022-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2022-01-01 540377465 SHENANDOAH VALLEY ELECTRIC COOPERATIVE SHEN 5404342200 180 OAKWOOD DR ROCKINGHAM VA 22801 GREGORY S ROGERS PRESIDENT & CEO 5404342200 2023-10-27 true GREG ROGERS 999009999 true G STEVEN GILLIAM CPA P00348264 8043231313 2023-10-27 2022 2023-04-26 12:10:37Z GREGORY S ROGERS 180 OAKWOOD DR ROCKINGHAM VA 22801 277120588 false X WWW.SVEC.COOP X 1936 VA PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. 10 10 256 176054 175054 3967000 0 235245414 274494342 215203 1281467 1323629 1230193 240751246 277006002 0 11949892 12580534 26624650 28584532 0 0 196695748 231899341 235270290 273064407 5480956 3941595 571380010 620113096 367363094 408434401 204016916 211678695 PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. false false PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 184,317,504 OTHER SALARIES AND WAGES 22,776,825 DEPRECIATION EXPENSE 20,885,459 false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 66 0 true 256 true true true false false false false 269351664 6714785 false false false X 10 10 false false false false true true true true true false false true true true true true true true true false X SHENANDOAH VALLEY ELECTRIC COOP 5404342200 180 OAKWOOD DR ROCKINGHAM VA 22801 X GREGORY S ROGERS PRESIDENT & 60.00 X 399682 0 97037 JONATHAN M AULGUR ASST SEC/TRE 50.00 X 287139 0 44013 WAYNE D HANNAH JR VP & CIO 55.00 X 237105 0 75799 JASON E BURCH VP ENGINEERI 50.00 X 193895 0 44797 MICHAEL ALEXANDER LEAD LINEMAN 40.00 X 187917 0 39794 THOMAS H HANDLEY DIRECTOR OF 40.00 X 176180 0 33584 BENJAMIN CASH MGR DISTRICT 50.00 X 164540 0 45173 CA HELSLEY SEC/TREAS 5.00 X X 33985 0 0 TODD VAN HORN DIRECTOR 5.81 X 28205 0 0 LARRY C HOWDYSHELL DIRECTOR 9.98 X 27540 0 0 BILL ORNDOFF CHAIR 6.15 X X 27260 0 0 STEPHEN BURKHOLDER DIRECTOR 4.98 X 26535 0 0 ROBBIE F MARCHANT DIRECTOR 7.61 X 26200 0 0 SUZANNE OBENSHAIN DIRECTOR 7.33 X 25975 0 0 JR DOFFLEMYER VICE CHAIR 4.20 X X 25590 0 0 BRENT ARBOGAST DIRECTOR 3.43 X 25320 0 0 BRIAN PLUM DIRECTOR 3.56 X 25100 0 0 1918168 380197 82 false true false XYLEM TREE EXPERTS 208 E PLUME ST SUITE 250 NORFOLK VA 23510 TREE TRIMMING 5749495 DAVIS H ELLIOTT CO PO BOX 37251 BALTIMORE MD 21297 R/W CONSTR 5035306 PIKE ENGINEERING PO BOX 746315 ATLANTA GA 30374 WORK ORDERS 1249665 AUGUSTA UTILITIES LLC PO BOX 8 VERONA VA 24482 LINE INSTALL 1104965 WEED CONTROL 800 CABIN HILL DRIVE GREENSBURG PA 15601 R/W SPRAYING 979033 21 SALE AND DIST. OF ELECT. 221000 269351664 269351664 CONTRIB IN AID OF CONSTRUCT 221000 4154889 4154889 PATRONAGE ALLOC RECEIVED 221000 987789 987789 274494342 1212976 1212976 1294435 64242 1230193 1230193 176054 1054139 118835 50344 68491 68491 68491 277006002 274494342 176054 2335606 X 12580534 1099581 22776825 2831033 1877093 521655 3523624 89919 11467687 20885459 COST OF POWER 184317504 DISTRIBUTION MAINTENANCE 11436549 DISTRIBUTION OPERATION 5508355 ADMIN & GENERAL 5016003 -10867414 273064407 0 0 0 11749812 12919897 45803175 69696642 30467489 34509285 7537117 10702416 2011980 2511475 650676110 228067801 409014408 422608309 63910263 66264937 885766 900135 571380010 620113096 16832038 25947669 336727671 374410307 13803385 8076425 367363094 408434401 X 204016916 211678695 204016916 211678695 571380010 620113096 X 3941595 3720184 X false true X true false 650676110 228067801 422608309 422608309 PATRONAGE CAPITAL ALLOCATIONS 64748365 C CAPITAL TERM CERTIFICATES 1479227 C BUILDING 36320 C MEMBERSHIP FEES 1025 C 66264937 CONSUMER DEPOSITS 5091706 OTHER CURRENT LIABILITIES 2188671 DEFERRED CREDITS 796048 8076425 X 274408711 1557598 1557598 272851113 4154889 4154889 277006002 260548115 64242 64242 260483873 12580534 12580534 273064407 SCHEDULE D, PAGE 3, PART X THE COOPERATIVE HAS BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAXATION UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)(12). THE COOPERATIVE EVALUATES THE FILING POSITIONS IN ALL FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS, INCLUDING ITS STATUS AS A TAX- EXEMPT ELECTRIC COOPERATIVE ENTITY. THE COOPERATIVE BELIEVES ITS TREATMENT AS A TAX-EXEMPT UTILITY WILL BE SUSTAINED AND DOES NOT ANTICIPATE ANY ADJUSTMENT THAT WILL RESULT IN A MATERIAL CHANGE TO ITS FINANCIAL POSITION. THE COOPERATIVE IS NOT CURRENTLY UNDER AUDIT BY ANY TAX JURISDICTION. SCHEDULE D, PAGE 4, PART XI, LINE 2D CASH PATRONAGE RECEIVED 1,501,961 TOWER EXPENSES NETTED IN REVENUE 64,242 UNREALIZED LOSS -8,605 SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS IN AID OF CONSTRUCTION 4,154,889 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSES NETTED AGAINST REVENUE 64,242 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CREDITED TO MEMBER ACCOUNTS 12,580,534 X true true X X X X X false true false GREGORY S ROGERS PRESIDENT & CEO 399682 81500 15537 496719 JONATHAN M AULGUR ASST SEC/TREAS 286139 1000 40467 3546 331152 WAYNE D HANNAH JR VP & CIO 236105 1000 60516 15283 312904 JASON E BURCH VP ENGINEERING 192895 1000 29206 15591 238692 MICHAEL ALEXANDER LEAD LINEMAN 186917 1000 29764 10030 227711 THOMAS H HANDLEY DIRECTOR OF FINANCE 176180 31195 2389 209764 BENJAMIN CASH MGR DISTRICT OPS 163540 1000 30729 14444 209713 SCHEDULE J, PAGE 1, PART I, LINE 4 GREGORY S. ROGERS 0 20,500 0 SCHEDULE J, PART III CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR)UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) PLAN. FORM 990 FORM 990, PART IX, LINE 4 PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN THE COOPERATIVE'S BYLAWS. THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501 (C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE INCLUDED IN LINE 4 OF PART IX. FORM 990 PART IX LINE 17 REPRESENTS ALL TRANSPORTATION EXPENSES INCLUDING MILEAGE, GAS, AND THE MAINTENANCE COSTS OF ALL VEHICLES OWNED BY THE COOPERATIVE. FORM 990, PAGE 6, PART VI, LINE 6 SHENANDOAH VALLEY ELECTRIC COOPERATIVE IS AN ELECTRIC MEMBERSHIP COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF SVEC. FORM 990, PAGE 6, PART VI, LINE 7A MEMBERS OF THE GOVERNING BOARD ARE ELECTED BY THE MEMBERSHIP OF THE COOPERATIVE THROUGH DEMOCRATICALLY CONTESTED ELECTIONS. THE BOARD HAS REGULAR MONTHLY MEETINGS AND AN ANNUAL MEETING THAT IS OPEN TO THE ENTIRE MEMBERSHIP. FORM 990, PAGE 6, PART VI, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS REQUIRED BY STATE LAW AND THE BYLAWS. FORM 990, PAGE 6, PART VI, LINE 11B THE PRESIDENT AND CEO OR A DESIGNEE WILL REVIEW THE 990 WITH THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE'S LEGAL COUNSEL ANNUALLY REVIEWS THE CONFLICT OF INTEREST COMPLIANCE AND ENFORCEMENT WITH THE GOVERNING BOARD. FORM 990, PAGE 6, PART VI, LINE 15A THE GOVERNING BOARD'S COMPENSATION AND BENEFITS COMMITTEE DOES AN ANNUAL REVIEW OF THE CEO'S COMPENSATION AND BENEFITS. THIS IS DONE AFTER A THIRD PARTY REVIEW AND RECOMMENDATION. FORM 990, PAGE 6, PART VI, LINE 15B THE GOVERNING BOARD'S COMPENSATION AND BENEFITS COMMITTEE DOES AN ANNUAL REVIEW OF OFFICERS- AND KEY EMPLOYEES' COMPENSATION AND BENEFITS. THIS IS DONE AFTER A THIRD PARTY REVIEW OF THE OVERALL COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, POLICIES, FORM 990 AND FINANCIAL STATEMENTS ARE ALWAYS AVAILABLE UPON REQUEST. BYLAWS, RATES AND TERMS ARE DISCLOSED ON THE COOPERATIVE'S WEBSITE. FINANCIAL INFORMATION IS PRESENTED TO THE MEMBERSHIP EACH YEAR AT THE ANNUAL MEETING. THIS INFORMATION IS ALSO PUBLISHED IN THE COOPERATIVE'S MAGAZINE COOPERATIVE LIVING WITH LINKS AVAILABLE ON THE WEBSITE. FORM 990, PART VII THE COOPERATIVE PARTICIPATED IN THE NRECA GROUP DEFINED PENSION PLAN. AS PART OF THIS PLAN, PARTICIPANTS WERE REQUIRED TO RECOGNIZE THE ACTUARIAL INCREASE IN THE VALUE OF THEIR ACCOUNT ON FORM 990. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN WAS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN THE ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIED WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE WITH ALL OTHER THINGS BEING EQUAL. THE RS PLAN IS NOW FROZEN. FORM 990, PART XI, LINE 9 NET INCREASE IN MEMBERSHIPS 3,360 CHANGE IN DONATED CAPITAL 806,367 CASH PATRONAGE RECEIVED 1,501,961 PATRONAGE CAPITAL CREDITED TO MEMBER ACCOUNTS 12,580,534 RETIREMENT OF CAPITAL CREDITS -7,008,544 CONTRIBUTIONS IN AID OF CONSTRUCTION -4,154,889 UNREALIZED LOSS ON 457 PLAN -8,605 TOTAL 3,720,184