Ark Valley Electric Cooperative Assn Inc
- Assets
- $45.2m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 15
- Location
- Hutchinson, KS
- Founding
- 05/1941
- Data as of
- 12/2023
- EIN
- 48-0124045
Organization Overview
Ark Valley Electric Cooperative Assn Inc is located in Hutchinson, KS. The organization was established in 1941. 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, Ark Valley Electric Cooperative Assn Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ark Valley Electric Cooperative Assn 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, Ark Valley Electric Cooperative Assn Inc generated $14.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $14.3m during the year ending 12/2023. 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
THE ARK VALLEY ELECTRIC COOPERATIVE ASSOCIATION, INC., IS DEDICATED TO PROVIDING SAFE, RELIABLE, HIGH QUALITY ELECTRIC ENERGY TO ITS MEMBERS AT THE LOWEST COST, WHILE STRIVING TO IMPROVE THE QUALITY OF LIFE FOR ALL ITS MEMBERS AND ADHERING TO COOPERATIVE PRINCIPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARK VALLEY ELECTRIC COOPERATIVE DISTRIBUTES ELECTRICITY TO 5,245 RURAL MEMBERS. IT OPERATES 2,014 MILES OF OVERHEAD LINE AND 49 MILES OF UNDERGROUND DISTRIBUTION LINES. THE COOPERATIVE IS A VOLUNTARY ORGANIZATION OPEN TO ALL WHO ARE ABLE TO USE ITS SERVICES. IT IS CONTROLLED BY MEMBERS WITH ONE VOTE PER MEMBER. THE MARGINS BEYOND THOSE NECESSARY TO PAY EXPENSES ARE CREDITED BACK TO THE MEMBERS THROUGH CAPITAL ALLOCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackie Holmberg General Manager | Officer | 46 | $160,355 |
Jim Sherry Director Of Operations | Officer | 50 | $155,244 |
Justin Tankersley Line Foreman | 42 | $123,678 | |
Ryan Walton Journeyman Lineman | 43 | $119,246 | |
Aryn Walton Journeyman Lineman | 44 | $121,279 | |
Garth Graham Journeyman Lineman | 43 | $116,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Royer Brothers Tree Service Llc Line Clearing | 12/30/23 | $514,546 |
Appel Company Ur Electric Instal | 12/30/23 | $102,457 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $105,146 |
| 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 | $105,146 |
| Total Program Service Revenue | $14,004,438 |
| Investment income | $227,272 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,600 |
| 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 | $14,366,383 |
| 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 | $1,690,958 |
| Compensation of current officers, directors, key employees. | $733,023 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $863,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $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 | $679,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,332,803 |
| Insurance | $0 |
| All other expenses | $1,799 |
| Total functional expenses | $14,261,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,954,445 |
| Savings and temporary cash investments | $800,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,383,508 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,029,247 |
| Prepaid expenses and deferred charges | $160,479 |
| Net Land, buildings, and equipment | $33,556,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,362,362 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,246,819 |
| Accounts payable and accrued expenses | $2,788,336 |
| Grants payable | $0 |
| Deferred revenue | $96,617 |
| 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 | $18,895,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,780,600 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $23,466,219 |
| Total liabilities and net assets/fund balances | $45,246,819 |