Canadian Valley Electric Cooperative Inc is located in Seminole, OK. The organization was established in 1942. 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, Canadian Valley Electric Cooperative Inc employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canadian 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, Canadian Valley Electric Cooperative Inc generated $69.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $74.6m during the year ending 12/2021. While expenses have increased by 3.3% 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
TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gary Highley CEO | Officer | 45 | $239,423 |
Joshua Holt COO | Officer | 48 | $152,263 |
Kimberly Behrnes Manager Of Engineering | 40 | $121,895 | |
Jamie Scott Manager Of Finance | Officer | 43 | $115,952 |
John Colvin Area Serviceman | 53 | $115,474 | |
Daniel Franco Area Serviceman | 40 | $112,928 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Gulf Coast Business Credit Make Ready Construct | 12/30/21 | $2,928,974 |
Smith And Pickle Building Contractor | 12/30/21 | $5,841,904 |
Benton Technical Services Inc Fiber Construction | 12/30/21 | $3,999,129 |
Riggs Tree Service Inc Tree Trimming | 12/30/21 | $1,707,584 |
Kea Energy Llc Line Service | 12/30/21 | $699,764 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,411,887 |
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 | $1,411,887 |
Total Program Service Revenue | $73,442,789 |
Investment income | $539,951 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$6,502,973 |
Net Gain/Loss on Asset Sales | -$13,565 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $30,510 |
Miscellaneous Revenue | $0 |
Total Revenue | $69,270,313 |
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 | $2,840,102 |
Compensation of current officers, directors, key employees. | $762,877 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,457,704 |
Pension plan accruals and contributions | $100,960 |
Other employee benefits | $654,983 |
Payroll taxes | $350,879 |
Fees for services: Management | $0 |
Fees for services: Legal | $169,425 |
Fees for services: Accounting | $52,471 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $2,111,271 |
Advertising and promotion | $0 |
Office expenses | $232,784 |
Information technology | $531,789 |
Royalties | $0 |
Occupancy | $75,733 |
Travel | $764,439 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $67,193 |
Interest | $2,232,442 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,301,475 |
Insurance | $1,700,248 |
All other expenses | $588,920 |
Total functional expenses | $74,583,868 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $305,433 |
Savings and temporary cash investments | $212,125 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $17,451,359 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $5,256,908 |
Prepaid expenses and deferred charges | $28,238 |
Net Land, buildings, and equipment | $105,578,763 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $31,663,981 |
Intangible assets | $0 |
Other assets | $13,389,173 |
Total assets | $173,885,980 |
Accounts payable and accrued expenses | $14,044,076 |
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 | $76,947,507 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,639,823 |
Total liabilities | $98,631,406 |
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 | $75,254,574 |
Total liabilities and net assets/fund balances | $173,885,980 |
Organization Name | Assets | Revenue |
---|---|---|
Mid-South Electric Cooperative Association Navasota, TX | $452,923,341 | $112,304,236 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Karnes Electric Cooperative Inc Karnes City, TX | $202,970,400 | $101,891,775 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Deep East Texas Electric Co-Operative Inc San Augustine, TX | $258,283,792 | $99,942,050 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
San Bernard Electric Cooperative Incorporated Bellville, TX | $290,497,219 | $97,543,303 |
Pioneer Electric Cooperative Inc Ulysses, KS | $284,468,248 | $104,061,245 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
Bandera Electric Cooperative Inc Bandera, TX | $290,540,608 | $89,188,257 |