Valley Electric Association Inc

Organization Overview

Valley Electric Association Inc is located in Pahrump, NV. As of 12/2021, Valley Electric Association Inc employed 152 individuals. Valley Electric Association 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, Valley Electric Association Inc generated $92.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $105.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 4 years. 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 QUALITY AND RELIABLE ELECTRIC AND INTERNET SERVICE TO MEMBERS OF THE COOPERATIVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,124 ACTIVE SERVICES AT YEAR END.


PRIOR TO THE MEMBERSHIP APPROVED BYLAW AMENDMENTS IN 2018, THE COOPERATIVE PROVIDED INTERNET/BROADBAND SERVICES TO ALL SUBSCRIBERS ON A NON-PATRONAGE AND UNRELATED BUSINESS INCOME BASIS. ONE OF THE MEMBERSHIP APPROVED BYLAW AMENDMENTS IS TO PROVIDE INTERNET/BROADBAND SERVICES TO MEMBERS ON A PATRONAGE, NONPROFIT BASIS. THEREFORE, THE COOPERATIVE HAS EXPANDED ITS EXEMPT PURPOSES TO INCLUDE THE PROVISION OF INTERNET/BROADBAND SERVICES TO MEMBERS ON A PATRONAGE BASIS. SUCH SERVICES CONTINUE TO BE PROVIDED TO NON-MEMBERS ON A NON-PATRONAGE BASIS. THERE WERE 11,274 ACTIVE SERVICES AT YEAR END.


SOLPOWER AND SOLPOWER CAPITAL (SOLPOWER) ARE WHOLLY SUBSIDIARIES OF VEA; SOLPOWER WAS FORMED IN 2020 TO PROVIDE SOLAR POWER SERVICES TO MEMBERS OF VEA.


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Board, Officers & Key Employees

Name (title)Compensation
Bart Thurgood
Evp Human Resources
$385,611
Mark Stallons
CEO
$350,708
Nathan Johnson
Evp Broadband
$339,832
Steve Morrison
CFO
$283,717
Mindy Morrow
Director Of Admin & Accounting
$250,069
Christopher Tomchuk
Director Of Trans Energy Services
$236,865

Outside Vendors & Contractors

Vendor Name (Service)Compensation
National Information Solutions Cooperati
Software Provider
$435,991
Hdr
Engineering Consultant
$324,063
Davison Van Cleve Pc
Legal Services
$322,987
St Moritz Security
Security Services
$306,172
Layton Tree Service Llc
Tree Trimmers
$299,385
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$91,739,173
Investment income $21,874
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $96,614
Net Gain/Loss on Asset Sales -$847
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$19,229
Miscellaneous Revenue$0
Total Revenue $92,074,698

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Valley Electric Association Inc has recieved totaling $2,000.

Awarding OrganizationAmount
Fengzheng Cultural Foundation

Frankfort, KY

PURPOSE: EDUCATION

$2,000
View Grant Recipient Profile

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