Duncan Valley Electric Cooperative Inc
- Assets
- $11.7m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 13
- Location
- Duncan, AZ
- Founding
- 02/1952
- Data as of
- 12/2021
- EIN
- 86-0086280
Organization Overview
Duncan Valley Electric Cooperative Inc is located in Duncan, AZ. The organization was established in 1952. 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, Duncan Valley Electric Cooperative Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Duncan 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, Duncan Valley Electric Cooperative Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. 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 ELECTRIC AND GAS ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC ENERGY TO MEMBERS AT COST ON A COOPERATIVE BASIS. THERE WERE 2,537 ACTIVE SERVICES AT YEAR END.
SALE OF NATURAL GAS TO MEMBERS - 709 ACTIVE SERVICES WERE PROVIDED NATURAL GAS AT YEAR END AT COST ON A COOPERATIVE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Lunt CEO | Officer | 45 | $127,353 |
Michael Strain Operations Manager | 45 | $102,943 | |
Kimberly Waters Accounting Manager | Officer | 40 | $85,937 |
Frank Downs President | OfficerTrustee | 3.2 | $8,200 |
Vance Lee Director (jan-May) | Trustee | 2.3 | $5,000 |
Judy Mckinley Director | Trustee | 1.4 | $4,400 |
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 | $4,134,019 |
| Investment income | $183,309 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,342,345 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $376,119 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $557,397 |
| Pension plan accruals and contributions | $74,711 |
| Other employee benefits | $95,122 |
| Payroll taxes | $44,589 |
| 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 | $41,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $369,974 |
| Insurance | $0 |
| All other expenses | $14,435 |
| Total functional expenses | $4,082,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,897 |
| Savings and temporary cash investments | $1,877,343 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $336,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,102 |
| Inventories for sale or use | $224,183 |
| Prepaid expenses and deferred charges | $274,527 |
| Net Land, buildings, and equipment | $5,760,211 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,079,612 |
| Intangible assets | $0 |
| Other assets | $114,921 |
| Total assets | $11,704,172 |
| Accounts payable and accrued expenses | $532,207 |
| 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 | $1,204,999 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $467,817 |
| Total liabilities | $2,205,023 |
| 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 | $9,499,149 |
| Total liabilities and net assets/fund balances | $11,704,172 |
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|---|---|---|
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Surprise Valley Electrification Corp Alturas, CA | $56,558,515 | $15,431,863 |
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Columbus Electric Cooperative Inc Deming, NM | $51,291,020 | $15,018,624 |
Mora-San Miguel Electric Cooperative Inc Mora, NM | $28,478,652 | $12,852,709 |
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Beaumont Unified School District Public Facilities Corporation Beaumont, CA | $36,031,848 | $19,466,559 |
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