2023-10-13T14:04:40-05:00 2022-12-31 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 462045108 990 2022-01-01 351274565 WABASH VALLEY POWER ASSOCIATION INC WABA 3174812800 6702 INTECH BLVD INDIANAPOLIS IN 46278 THERESA YOUNG COO 3174812800 2023-10-13 1 THERESA YOUNG 999009999 0 SAMANTHA BOKORI P01057347 3174648600 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WABASH VALLEY POWER ALLIANCE JEFFREY A CONRAD 6702 INTECH BLVD INDIANAPOLIS IN 46278 935205243 0 X WWW.WVPA.COM X 1963 IN WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE WHICH EXISTS TO SUPPLY AND DELIVER WHOLESALE POWER TO MEET THE NEEDS OF ITS ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. 23 23 123 0 0 0 0 0 750306350 920154233 7136473 14559339 9710 10025 757452533 934723597 0 0 0 0 12762821 11347585 0 0 0 731767012 910539801 744529833 921887386 12922700 12836211 1308025251 1598590270 1041722323 1323287342 266302928 275302928 WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE WHICH EXISTS TO SUPPLY AND DELIVER WHOLESALE POWER TO MEET THE NEEDS OF ITS ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. 0 0 THE EXEMPT PURPOSE OF WABASH VALLEY POWER ASSOCIATION, INC. IS TO PROVIDE ELECTRICITY TO ITS MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 2 0 1 123 1 0 0 0 0 0 126576000 -8643000 0 0 0 X 23 23 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 1 1 1 1 1 0 CA GA IN X THERESA YOUNG COO 3174812800 6702 INTECH BLVD INDIANAPOLIS IN 46278 DENNIS BURTON VICE-CHAIRMAN 6.00 0.00 X 24900 0 0 PHILIP M HAYES CHAIRMAN 6.00 0.00 X 24300 0 0 KENNETH D DENTON EXECUTIVE COMMITTEEMEN 7.00 0.00 X 20700 0 0 BART NESIUS SECRETARY-TREASURER 5.00 0.00 X 19200 0 0 TINA DAVIS DIRECTOR 4.00 0.00 X 19200 0 0 JON RETTINGER DIRECTOR 6.00 0.00 X 18300 0 0 SHANE RASLER DIRECTOR 5.00 0.00 X 15300 0 0 NOEL KENDALL DIRECTOR 3.00 0.00 X 15000 0 0 DAVID JANNEY DIRECTOR 5.00 0.00 X 13800 0 0 ANTHONY FLEMING DIRECTOR 3.00 0.00 X 12900 0 0 HAL D TRUAX DIRECTOR 3.00 0.00 X 12600 0 0 DOUGLAS H BURNWORTH EXECUTIVE COMMITTEEMEN 6.00 0.00 X 11700 0 0 RODNEY SCHERER DIRECTOR 7.00 0.00 X 11700 0 0 ROBERT LEHMANN DIRECTOR 3.00 0.00 X 10800 0 0 LARRY JACK DIRECTOR 3.00 0.00 X 10500 0 0 RICK RISLEY DIRECTOR 4.00 0.00 X 10500 0 0 ALAN SCHLAGENHAUF DIRECTOR 3.00 0.00 X 9900 0 0 FRANK KOBILSEK DIRECTOR 3.00 0.00 X 8400 0 0 MICHAEL R CONNER DIRECTOR 2.00 0.00 X 7500 0 0 KIRK ALTER DIRECTOR 1.00 0.00 X 6900 0 0 DOUG BROWN 2ND VICE-CHAIRMAN 1.00 0.00 X 5700 0 0 WAYNE GINGERICH DIRECTOR (THRU 4/2022) 2.00 0.00 X 5100 0 0 CLAYTON DANIEL GARD JR DIRECTOR 2.00 0.00 X 4800 0 0 JIM SAVAGE DIRECTOR 1.00 0.00 X 3300 0 0 ROBERT ANGUS DIRECTOR (THRU 4/2022) 1.00 0.00 X 2400 0 0 JEFF CONRAD PRESIDENT AND CEO (BEG. 4/2022) 40.00 0.00 X 517216 0 81061 JAY BARTLETT PRESIDENT AND CEO (THRU 6/22) 40.00 0.00 X 511844 0 25311 THERESA YOUNG COO (BEG. 9/2022) 40.00 0.00 X 272032 0 31084 BRIAN FITZGERALD EXEC. VP, ENG & OP. (THRU 8/2022) 40.00 0.00 X 475757 0 35829 JOHN CASSADY EXEC. VP, PUBLIC POLICY & ADVOCACY 40.00 0.00 X 350723 0 40969 CURTIS TAYLOR EXEC. VP, TECHNOLOGY SERVICES 40.00 0.00 X 295691 0 35746 JASON MARSHALL EXEC. VP, RISK, COMP & REG AFFAIRS 40.00 0.00 X 292265 0 44893 KATHY SCHEMBS JOYCE VP MARKETING & COMM. (THRU 12/2022) 40.00 0.00 X 311650 0 35901 MATTHEW MOORE EXEC. VP, POWER SUPPLY 40.00 0.00 X 297302 0 39958 KARI WETTER MANAGER, PORTFOLIO & RISK 40.00 0.00 X 199022 0 34806 RICHARD MULLEN DIRECTOR, FIELD OPERATIONS 40.00 0.00 X 198282 0 32669 SPENCER HOUSE MANAGER, SYSTEM OPERATIONS 40.00 0.00 X 185686 0 39391 JOAN SOLLER DIRECTOR, GRID INNOV & PORT INT 40.00 0.00 X 178165 0 30037 ALBERT TAYLOR DIRECTOR OF GENERATION 40.00 0.00 X 200396 0 17423 4591431 0 525078 54 0 1 0 DUKE ENERGY INDIANA LLC 1000 EAST MAIN ST PLAINFIELD IN 46168 MANAGEMENT FEES 17185894 BURNS & MCDONNELL ENGINEERING COMPANY I 9400 WARD PARKWAY KANSAS CITY MO 64114 CONSTRUCTION SERVICES 10150655 GENERAL ELECTRIC INTERNATIONAL INC 191 ROSA PARKS ST CINCINNATI OH 45202 MAINTENANCE FEES 9954300 WASTE MANAGEMENT OF INDIANA LLC 124 TWIN BRIDGES RD DANVILLE IN 46122 MANAGEMENT FEES 6905575 EMERALD ENERGY & EXPLORATION LAND COMPAN 1402 PALMER ST CORBIN KY 40701 CONSTRUCTION SERVICES 6831645 74 SALES OF ELECTRICITY 221000 893685815 893685815 SALES OF TRANS. & DIST 221000 17170840 17170840 EMISSION ALLOW. SALE 221000 9238244 9238244 59334 59334 920154233 15040985 15040985 10025 0 10025 10025 10025 481646 -481646 -481646 -481646 934723597 919672587 0 15051010 4000632 4443959 2374333 528661 2419860 167736 1582924 604449 4368461 378162 136773 269700 39502094 59142497 PURCHASED POWER EXPENSE 626692589 FUEL EXPENSE 102000896 OP. & MAINT. EXPENSE 71830456 MISCELLANEOUS EXPENSES 1443204 921887386 151936710 133708570 81267202 106865761 1753950 1731762 16836426 20167030 98697473 316602048 1607160781 631568475 919562461 975592306 18429986 20085355 19541043 23837438 1308025251 1598590270 158015235 134304931 36571882 262465493 26150000 25950000 820985206 898753590 0 1813328 1041722323 1323287342 X 0 0 13000000 13000000 253302928 262302928 266302928 275302928 1308025251 1598590270 X 12836211 -3836211 X 0 1 X 1 0 18000 0 18000 18000 1 INDIANA FORE 8888 KEYSTONE CROSSING SUITE 1666 INDIANAPOLIS IN 46240 351998087 18000 PART I-A, LINE 1: MADE A PAYMENT TO IEC FOR A POLITICAL CONTRIBUTION TO INDIANA FORE (FRIENDS OF RURAL ELECTRIFICATION). 24380088 24380088 18521972 8437161 10084811 1466817569 616766438 850051131 97441152 6364876 91076276 975592306 OPERATING LEASE LIABILITIES 1813328 1813328 X PART X, LINE 2: THE COMPANY HAS ADOPTED GUIDANCE GOVERNING UNCERTAIN INCOME TAX POSITIONS THAT SETS FORTH RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR FINANCIAL STATEMENT RECOGNITION. THE GUIDANCE DID NOT RESULT IN THE RECORDING OF ANY UNCERTAIN TAX POSITION LIABILITIES AS OF DECEMBER 31, 2022 AND 2021. TAX YEARS 2019 THROUGH 2022 REMAIN OPEN AND COULD BE SUBJECT TO AUDIT BY THE IRS. X X X X X X 1 1 0 JEFF CONRAD PRESIDENT AND CEO (BEG. 4/2022) 485586 0 0 0 31630 0 48100 0 32961 0 598277 0 0 0 JAY BARTLETT PRESIDENT AND CEO (THRU 6/22) 430314 0 0 0 81530 0 5600 0 19711 0 537155 0 0 0 BRIAN FITZGERALD EXEC. VP, ENG & OP. (THRU 8/2022) 179850 0 0 0 295907 0 3433 0 32396 0 511586 0 0 0 JOHN CASSADY EXEC. VP, PUBLIC POLICY & ADVOCACY 282020 0 31446 0 37257 0 5515 0 35454 0 391692 0 0 0 KATHY SCHEMBS JOYCE VP MARKETING & COMM. (THRU 12/2022) 299094 0 0 0 12556 0 5005 0 30896 0 347551 0 0 0 MATTHEW MOORE EXEC. VP, POWER SUPPLY 280107 0 7870 0 9325 0 5600 0 34358 0 337260 0 0 0 JASON MARSHALL EXEC. VP, RISK, COMP & REG AFFAIRS 276689 0 1683 0 13893 0 5600 0 39293 0 337158 0 0 0 CURTIS TAYLOR EXEC. VP, TECHNOLOGY SERVICES 258673 0 15909 0 21109 0 5512 0 30234 0 331437 0 0 0 THERESA YOUNG COO (BEG. 9/2022) 238631 0 1705 0 31696 0 4661 0 26423 0 303116 0 0 0 KARI WETTER MANAGER, PORTFOLIO & RISK 185720 0 6288 0 7014 0 3850 0 30956 0 233828 0 0 0 RICHARD MULLEN DIRECTOR, FIELD OPERATIONS 188018 0 1681 0 8583 0 3909 0 28760 0 230951 0 0 0 SPENCER HOUSE MANAGER, SYSTEM OPERATIONS 180966 0 1676 0 3044 0 3783 0 35608 0 225077 0 0 0 ALBERT TAYLOR DIRECTOR OF GENERATION 196823 0 1662 0 1911 0 3955 0 13468 0 217819 0 0 0 JOAN SOLLER DIRECTOR, GRID INNOV & PORT INT 173961 0 1676 0 2528 0 3614 0 26423 0 208202 0 0 0 PART I, LINE 4A: FORMER KEY EMPLOYEE, BRIAN FITZGERALD WAS PAID $288,588 IN SEVERANCE PAYMENTS DURING 2022 IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF A SEPARATION AGREEMENT. PART I, LINE 4B: ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO SUPPLEMENTAL NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR TO ANY LISTED PERSONS IN PART VII. A INDIANA FINANCE AUTHORITY 351602316 000000000 2010-12-17 40000000 CAPITAL IMPROVEMENT IN VIGO COUNTY INDIANA 0 0 0 A 14050000 40000000 300000 39700000 2011 0 0 1 1 A 0 1 0 0 1 0 0 A 0 0 1 0 1 0 0 0 0 A 0 PART III, LINE 4 AND LINE 7: ALL OF THE PROCEEDS OF THE BONDS WERE USED FOR PRIVATE ACTIVITY PURPOSES. THESE BONDS ARE MIDWESTERN DISASTER AREA BONDS, WHICH ARE EXEMPT FACILITY BONDS UNDER IRC 142 AS PROVIDED BY SECTION 702 OF THE HEARTLAND DISASTER TAX RELIEF ACT OF 2008. SUCH BONDS, WHILE EXPECTED TO HAVE 100% PRIVATE BUSINESS USE AND TO MEET THE PRIVATE SECURITY OR PAYMENT TEST, ARE QUALIFIED BY STATUTE. PART IV, LINE 7: THE ASSOCIATION HAS NOT ESTABLISHED WRITTEN PROCEDURES WITH RESPECT TO ARBITRAGE MATTERS, BECAUSE (A) THIS IS THE ASSOCIATION'S ONLY ISSUE OF TAX-EXEMPT BONDS, AND (B) WE HAVE DETERMINED ALONG WITH BOND COUNSEL THAT THIS ISSUE QUALIFIES FOR THE SIX-MONTH SPENDING EXCEPTION TO REBATE. FORM 990, PART VI, SECTION A, LINE 6 WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COMPANY THAT HAS 23 DISTRIBUTION COOPERATIVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A WABASH VALLEY POWER ASSOCIATION, INC. HAS A BOARD CONSISTING OF 23 DIRECTORS, ONE REPRESENTATIVE ELECTED FROM EACH MEMBER DISTRIBUTION COOPERATIVE. THE BOARD IS RESPONSIBLE FOR SELECTING THE PRESIDENT AND CEO, LEGAL COUNSEL AND THE EXECUTIVE BOARD WHICH INCLUDES A CHAIRMAN, VICE-CHAIRMAN, 2ND VICE CHAIRMAN, SECRETARY-TREASURER AND TWO EXECUTIVE COMMITTEEMEN. FORM 990, PART VI, SECTION A, LINE 7B ALL BUSINESS AFFAIRS OF THE CORPORATION ARE GOVERNED BY THE BOARD OF DIRECTORS, WHICH EXERCISES ALL THE POWERS OF THE CORPORATION WITH THE PROVISIONS OF THE CORPORATE BY-LAWS, ARTICLES OF INCORPORATION AND CORPORATE POLICIES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS ELECTS THREE DIRECTORS, ALONG WITH THE SECRETARY-TREASURER AND AN INDEPENDENT MEMBER TO SERVE AS THE AUDIT COMMITTEE WHOSE PRIMARY FUNCTION IS TO ASSIST THE BOARD IN FINANCIAL OVERSIGHT RESPONSIBILITIES. THE FORM 990 RETURN IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING AND MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12B: THE BOARD OF WABASH VALLEY POWER ASSOCIATION, INC. HAS ADOPTED A POLICY ON DIRECTOR DUTIES, ETHICS AND STANDARDS OF CONDUCT WHICH REQUIRES DIRECTORS TO AVOID ACTIVITIES, PRACTICES OR ACTS THAT CREATE A CONFLICT OF INTEREST. ADDITIONALLY, EACH MEMBER OF THE BOARD AND KEY MANAGEMENT EMPLOYEES MUST ANNUALLY DISCLOSE ANY INTER-LOCKING DIRECTORSHIPS AS REQUIRED BY FEDERAL ENERGY REGULATORY COMMISSION REGULATIONS. FORM 990, PART VI, SECTION B, LINE 12C: WABASH VALLEY POWER ASSOCIATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT IS APPLICABLE TO ALL EMPLOYEES. THIS POLICY IS COMMUNICATED IN THE EMPLOYEE HANDBOOK ALONG WITH AN EXPLANATION OF THE PROCEDURE FOR CLARIFICATION OF POTENTIAL SITUATIONS THAT COULD LEAD TO CONFLICT. ON AN ANNUAL BASIS, EACH EMPLOYEE IS REQUIRED TO REVIEW AND SIGN THIS HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE BOARD WORKED WITH AN INDEPENDENT CONSULTING FIRM TO ESTABLISH THE CEO'S COMPENSATION PHILOSOPHY AND SALARY GUIDELINES BASED ON COMPARABILITY DATA FROM SEVERAL DIFFERENT ENERGY INDUSTRY SOURCES. THE CEO REVIEW PROCESS INCLUDES ON-LINE PERFORMANCE SURVEYS THAT ARE COMPLETED BY THE FULL BOARD OF DIRECTORS AND CHIEF EXECUTIVE OFFICERS OF EACH DISTRIBUTION COOPERATIVE. ALL FINAL PERFORMANCE STATISTICS AND COMPENSATION RECOMMENDATIONS ARE BROUGHT BEFORE THE FULL WABASH VALLEY BOARD OF DIRECTORS FOR FINAL DETERMINATION ON PERFORMANCE AND MERIT INCREASES. AN INDEPENDENT CONSULTING FIRM ALSO DEVELOPED A PERFORMANCE-BASED COMPENSATION SYSTEM FOR ALL WABASH VALLEY MANAGEMENT AND EMPLOYEES. THE ANNUAL REVIEW PROCESS INCLUDES SALARY TABLES AND GUIDELINES FOR EACH POSITION WITHIN THE ORGANIZATION BASED ON ENERGY INDUSTRY DATA. FORM 990, PART VI, SECTION C, LINE 19 WABASH VALLEY POWER ASSOCIATION, INC. PROVIDES ANY DOCUMENT OPEN TO PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS - WVEM 192,952. PATRONAGE CAPITAL RETIREMENT -4,000,000. EQUITY IN EARNINGS - ACES POWER MARKETING -29,163. WABASH VALLEY ENERGY MARKETING INC 6702 INTECH BLVD INDIANAPOLIS IN 46278 203938637 POWER MARKETING IN WABASH VALLEY POWER ASSOCIATION INC C 1161042 8289382 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WABASH VALLEY ENERGY MARKETING INC A 67569 FMV