Canadian Valley Electric Cooperative Inc

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Gary Highley
CEO
$239,423
Joshua Holt
COO
$152,263
Kimberly Behrnes
Manager Of Engineering
$121,895
Jamie Scott
Manager Of Finance
$115,952
John Colvin
Area Serviceman
$115,474
Daniel Franco
Area Serviceman
$112,928

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Riggs Tree Service Inc
Tree Trimming
$1,707,584
Gulf Coast Business Credit
Make Ready Construct
$2,928,974
Smith And Pickle
Building Contractor
$5,841,904
Benton Technical Services Inc
Fiber Construction
$3,999,129
Kea Energy Llc
Line Service
$699,764
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Financial Statements

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

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