Twin Valley Electric Cooperative Inc
- Assets
- $31.2m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 14
- Location
- Altamont, KS
- Founding
- 01/1955
- Data as of
- 12/2021
- EIN
- 48-0506619
Organization Overview
Twin Valley Electric Cooperative Inc is located in Altamont, KS. The organization was established in 1955. 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, Twin Valley Electric Cooperative Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Valley Electric Cooperative 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, Twin Valley Electric Cooperative Inc generated $6.5m 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 $6.5m during the year ending 12/2021. While expenses have increased by 1.0% 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
PROVIDING SAFE, RELIABLE ENERGY SERVICES AND ENHANCING THE QUALITY OF LIFE FOR OUR MEMBER OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWIN VALLEY ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC DISTRIBUTION COOPERATIVE THAT PROVIDED APPROXIMATELY 2,900 SERVICES TO ITS APPROXIMATELY 1,950 MEMBERS LOCATED IN SOUTHEAST KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Erickson CEO | Officer | 44 | $147,748 |
Rebecca Hanigan CFO | Officer | 43 | $108,837 |
Adam Myers Line Superin | 44 | $104,691 | |
Larry D Hubbell Board Vice P | Trustee | 1.48 | $3,145 |
Diane Mccartney Director | Trustee | 0.69 | $1,450 |
Dareld Nelson Treasurer | Trustee | 0.96 | $1,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Altec Industries Inc Truck Sales | 12/30/21 | $315,495 |
Kansas Electric Power Cooperative I Power Supplier | 12/30/21 | $1,978,315 |
Anixter Materials Suppl | 12/30/21 | $269,988 |
Border States Materials Suppl | 12/30/21 | $136,730 |
Jk Fencing Llc Tree Cutting | 12/30/21 | $126,770 |
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 | $6,441,837 |
| Investment income | $9,134 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,886 |
| Net Gain/Loss on Asset Sales | $45,751 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,504,748 |
| 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 | $241,299 |
| Compensation of current officers, directors, key employees. | $372,219 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $145,987 |
| 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 | $616,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $885,253 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,504,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,539 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $565,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $371,768 |
| Inventories for sale or use | $219,253 |
| Prepaid expenses and deferred charges | $264,746 |
| Net Land, buildings, and equipment | $27,187,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,223,767 |
| Intangible assets | $0 |
| Other assets | $1,978 |
| Total assets | $31,174,228 |
| Accounts payable and accrued expenses | $942,185 |
| Grants payable | $0 |
| Deferred revenue | $180,727 |
| 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 | $21,599,977 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,722,889 |
| 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 | $601,652 |
| Retained earnings, endowment, accumulated income, or other funds | $7,849,687 |
| Total liabilities and net assets/fund balances | $31,174,228 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Missouri Rural Electric Cooperative Palmyra, MO | $37,368,089 | $19,573,881 |
Sedgwick County Electric Cooperative Association Inc Cheney, KS | $36,473,709 | $18,891,382 |
Gascosage Electric Cooperative Dixon, MO | $57,774,455 | $19,748,899 |
North Central Missouri Electric Cooperative Inc Milan, MO | $39,341,969 | $18,294,115 |
Lewis County Rural Electric Cooperative Association Lewistown, MO | $54,864,852 | $16,122,435 |
Consolidated Mutual Water Company Lakewood, CO | $221,800,692 | $15,225,271 |
Lyon-Coffey Electric Cooperative Inc Burlington, KS | $47,592,400 | $15,534,958 |
Ark Valley Electric Cooperative Assn Inc South Hutchinson, KS | $45,661,646 | $15,134,706 |
Panhandle Rural Electric Membership Association Alliance, NE | $41,224,706 | $16,400,067 |
Grundy Electric Cooperative Incorporated Trenton, MO | $55,809,361 | $15,893,740 |
Tri-County Electric Cooperative Association Incorporated Lancaster, MO | $42,817,850 | $14,224,922 |
Ninnescah Rural Electric Cooperative Association Inc Pratt, KS | $52,244,825 | $13,915,563 |