Red River Valley Rural Electric Association

Organization Overview

Red River Valley Rural Electric Association is located in Marietta, OK. 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, Red River Valley Rural Electric Association employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Red River Valley Rural Electric Association 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, Red River Valley Rural Electric Association generated $48.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $48.3m during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 9 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

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS

Describe the Organization's Program Activity:

Part 3 - Line 4a

RED RIVER VALLEY RURAL ELECTRIC ASSOCIATION (REA) IS RESPONSIBLE FOR DISTRIBUTION OF ELECTRICITY ON A MEMBER-OWNED COOPERATIVE BASIS WITHIN A TERRITORY COVERING FIVE COUNTIES IN SOUTHERN OKLAHOMA. REA MAINTAINS 2,827 MILES OF DISTRIBUTION LINE SERVING 17,657 ACCOUNTS. CAPITAL CREDITS (DOLLARS RETURNED TO MEMBERS) TOTALED $721,224, AND NET OPERATING MARGINS ALLOCATED TO MEMBERS TOTALED $2,544,390 DURING 2023.


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Board, Officers & Key Employees

Name (title)Compensation
Brent Sykora
Former CEO
$185,338
Mike Mathis
CEO
$161,216
Jerry Welch
Director Of Operations
$114,678
Robert Spanglo
Service Supervisor
$136,119
Chase Mckinney
Lineman
$124,886
Greg Winchester
VP Of Engineering
$130,593

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Brent Smith Services Inc
Right Of Way Services
$730,289
Force Electrical Services
Line Construction
$1,090,725
Red Dirt Construction
Line Construction
$763,869
L4 Powerline Services Llc
Line Construction
$125,525
High Wire Tree Service
Right Of Way Services
$126,397
View All Vendors

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$47,854,330
Investment income $171,988
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $62,114
Net Gain/Loss on Asset Sales $80,133
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $14,991
Miscellaneous Revenue$0
Total Revenue $48,259,494

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