Nespelem Valley Electric Cooperative Inc
- Assets
- $10.0m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Nespelem, WA
- Founding
- 04/1941
- Data as of
- 12/2023
- EIN
- 91-0334493
Organization Overview
Nespelem Valley Electric Cooperative Inc is located in Nespelem, WA. 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, Nespelem Valley Electric Cooperative Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nespelem 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 12/2023, Nespelem Valley Electric Cooperative Inc generated $6.0m 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 $6.0m during the year ending 12/2023. While expenses have increased by 3.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ALL OUR MEMBERS WITH AFFORDABLE, RELIABLE POWER AND THE HIGHEST LEVEL OF MEMBER SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY TO PATRONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Black General Manager | Officer | 40 | $145,751 |
Scott Vejraska Journeyman Super | 40 | $145,639 | |
Uriah Palmanteer Journeyman Foreman | 40 | $126,186 | |
Cody Payne Lineman | 40 | $124,142 | |
Dalton Boutain Lineman | 40 | $116,165 | |
Mathew Howe Lineman | 40 | $122,398 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Okanogan County Pud Mutual Aid | 12/30/21 | $136,068 |
Palouse Power Llc Mutual Aid | 12/30/21 | $288,338 |
Basin Tree Service & Pest Cont Vegetation Management | 12/30/21 | $106,950 |
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 | $5,703,099 |
| Investment income | $201,200 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,025 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,952,345 |
| 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 | $967,381 |
| Compensation of current officers, directors, key employees. | $298,012 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $904,641 |
| Pension plan accruals and contributions | $281,369 |
| Other employee benefits | $130,953 |
| Payroll taxes | $98,131 |
| 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 | $174,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $399,337 |
| Insurance | $0 |
| All other expenses | -$1,405,290 |
| Total functional expenses | $5,952,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $624,642 |
| Savings and temporary cash investments | $1,583,295 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $464,723 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $352,695 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,786,511 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $234,498 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,046,364 |
| Accounts payable and accrued expenses | $532,172 |
| 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 | $1,997,378 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $313,112 |
| Total liabilities | $2,842,662 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,070 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,198,632 |
| Total liabilities and net assets/fund balances | $10,046,364 |