Garden Valley Telephone Company
- Assets
- $115.9m
- Revenue
- $40.5m
- Investments
- $2.8m
- Employees
- 112
- Location
- Erskine, MN
- Founding
- 07/1958
- Data as of
- 12/2021
- EIN
- 41-0271520
Organization Overview
Garden Valley Telephone Company is located in Erskine, MN. The organization was established in 1958. 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, Garden Valley Telephone Company employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Garden Valley Telephone Company 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, Garden Valley Telephone Company generated $40.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $40.5m during the year ending 12/2021. While expenses have increased by 11.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE COMMUNICATION SERVICES TO ITS MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GARDEN VALLEY TELEPHONE COMPANY PROVIDES COMMUNICATION SERVICES TO ITS MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Brinkman Ceo/general Manager | Officer | 40 | $302,053 |
Steve Olson Operations Manager | 40 | $126,816 | |
Sue Rasmussen Personnel & Admin Manager | 40 | $125,802 | |
Jon Smith Facilities Manager | 40 | $125,314 | |
Mark Klinkhammer Finance Manager | Officer | 40 | $122,265 |
Heidi Haaven Marketing & Comm. Manager | 40 | $121,446 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mp Nexlevel Llc Buried Fiber Optic Cable Installation | 12/30/21 | $8,331,518 |
Cooperative Network Services Llc Engineering Services | 12/30/21 | $1,152,004 |
Jcs Inc Internet/video Installations | 12/30/21 | $596,314 |
Innovative Systems Software Maintenance And Support | 12/30/21 | $363,484 |
Construction Engineers Inc Building Construction | 12/30/21 | $357,061 |
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 | $40,432,098 |
| Investment income | $98,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,664 |
| 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 | $40,536,799 |
| 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 | $8,386,405 |
| Compensation of current officers, directors, key employees. | $655,069 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,950,353 |
| Pension plan accruals and contributions | $1,716,570 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,244 |
| Fees for services: Accounting | $61,687 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $536,686 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,357,836 |
| Insurance | $0 |
| All other expenses | $154,062 |
| Total functional expenses | $40,536,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,894,906 |
| Savings and temporary cash investments | $55 |
| Pledges and grants receivable | $181,766 |
| Accounts receivable, net | $2,917,246 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $596,058 |
| Prepaid expenses and deferred charges | $156,921 |
| Net Land, buildings, and equipment | $81,702,798 |
| Investments—publicly traded securities | $6,619,728 |
| Investments—other securities | $2,754,846 |
| Investments—program-related | $0 |
| Intangible assets | $53,087 |
| Other assets | $12,990,223 |
| Total assets | $115,867,634 |
| Accounts payable and accrued expenses | $2,808,120 |
| 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 | $31,489,431 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,498,449 |
| Total liabilities | $36,796,000 |
| 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 | $69,451,678 |
| Retained earnings, endowment, accumulated income, or other funds | $9,619,956 |
| Total liabilities and net assets/fund balances | $115,867,634 |
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