SUWANNEE VALLEY ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SUWANNEE VALLEY ELECTRIC COOPERATIVE INC (EIN 59-0472323)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202403199349308315
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-14T12:30:20-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 631035228 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jackson Thornton & Co PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 96 | AddressLine1Txt |
| City | Montgomery | CityNm |
| State Abbreviation | AL | StateAbbreviationCd |
| ZIP | 361010096 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590472323 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Suwannee Valley Electric Cooperative | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SUWA | BusinessNameControlTxt |
| Phone | 3863622226 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 160 | AddressLine1Txt |
| City | Live Oak | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 320640160 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Michael S McWaters | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 3863622226 | PhoneNum |
| Signature | 2024-11-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Patrick Cooper | PreparerPersonNm |
| PTIN | P00856177 | PTIN |
| Phone | 3348347660 | PhoneNum |
| Preparation | 2024-11-13 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Michael S McWaters | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 160 | AddressLine1Txt |
| City | Live Oak | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 320640160 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $69,973,159 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.svec-coop.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1937 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | The Cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the Suwannee River Valley. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 94 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $436,334 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $76,023,097 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $70,234,881 | CYProgramServiceRevenueAmt |
| PY Investment Income | $41,095 | PYInvestmentIncomeAmt |
| CY Investment Income | $338,078 | CYInvestmentIncomeAmt |
| PY Other Revenue | $106,064 | PYOtherRevenueAmt |
| CY Other Revenue | -$610,956 | CYOtherRevenueAmt |
| PY Total Revenue | $76,170,256 | PYTotalRevenueAmt |
| CY Total Revenue | $69,962,003 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,719,717 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,032,254 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,273,222 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,280,298 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $73,177,317 | PYOtherExpensesAmt |
| CY Other Expenses | $67,649,451 | CYOtherExpensesAmt |
| PY Total Expenses | $76,170,256 | PYTotalExpensesAmt |
| CY Total Expenses | $69,962,003 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $150,357,185 | TotalAssetsBOYAmt |
| Total Assets EOY | $261,730,501 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $87,972,097 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $199,100,725 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $62,385,088 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $62,629,776 | NetAssetsOrFundBalancesEOYAmt |
| Mission | The Cooperative's responsibility and aim as a member owned organization is to provide excellent and reliable customer service with competitive rates while enhancing the quality of life of residents in the Suwannee River Valley. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Suwannee Valley Electric Coop provides electric service to over 20,000 members in 4 counties in the state of Florida. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 82 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 94 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Members And Shr Gross Income | $69,266,284 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,626,970 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Christine Moor | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3863305651 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11340 100th Street | AddressLine1Txt |
| City | Live Oak | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32060 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Jerry Goff | ||||||||
| Vice President | 1.60 | Yes (X) | $6,500 | $0 | $0 | |||
| Cynthia Boyette | ||||||||
| Secretary | 1.00 | Yes (X) | $9,500 | $0 | $0 | |||
| Sidney Lord | ||||||||
| Director/Trustee | 0.90 | Yes (X) | $5,500 | $0 | $0 | |||
| Hugh Hunter | ||||||||
| Director/Trustee | 1.00 | Yes (X) | $7,750 | $0 | $0 | |||
| Tyler Putnal | ||||||||
| Director/Trustee | 2.40 | Yes (X) | $9,500 | $0 | $0 | Yes (X) | ||
| Laure Bee Roberson III | ||||||||
| Director/Trustee | 1.00 | Yes (X) | $7,250 | $0 | $0 | Yes (X) | ||
| Charles Walker | ||||||||
| Treasurer | 3.70 | Yes (X) | $9,250 | $0 | $0 | Yes (X) | ||
| Michael Adams | ||||||||
| President | 1.00 | Yes (X) | $6,750 | $0 | $0 | Yes (X) | ||
| Francene Folsom | ||||||||
| Director/Trustee | 1.40 | Yes (X) | $8,750 | $0 | $0 | |||
| Mike McWaters | ||||||||
| CEO | 50.00 | $310,312 | $0 | $179,441 | Yes (X) | |||
| Christine Moor | ||||||||
| CFO | 45.00 | $144,160 | $0 | $26,287 | Yes (X) | |||
| Kurt Miller | ||||||||
| Director of Engineering | 40.00 | $195,598 | $0 | $98,807 | Yes (X) | |||
| Mark Mosley | ||||||||
| Director of Safety | 50.00 | $178,751 | $0 | $76,192 | Yes (X) | |||
| John Robinson | ||||||||
| Director of Member Service | 44.00 | $140,372 | $0 | $47,647 | Yes (X) | |||
| Crystal Ecker | ||||||||
| General Counsel | 45.00 | $124,693 | $0 | $13,947 | Yes (X) | |||
| Jodi Hughes | ||||||||
| Journeyman Lineman | 62.00 | $132,300 | $0 | $32,463 | Yes (X) | |||
| Hunter Ash | ||||||||
| Journeyman Lineman | 55.00 | $118,979 | $0 | $28,751 | Yes (X) | |||
| Trevor Touchton | ||||||||
| Manager of Power Technical | 45.00 | $130,401 | $0 | $34,803 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,546,316 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $538,338 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 25 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Musgrove Construction Inc | |||||
| 8708 US HWY 90 | Live Oak | FL | 32060 | Distribution Contractor | $10,795,592 |
| Bryant Tree Service | |||||
| 9368 132nd Ter | Live Oak | FL | 32060 | ROW Cutting | $3,884,486 |
| Bigham Cable Construction Inc | |||||
| 3171 Gulf Breeze Pky | Gulf Breeze | FL | 32563 | Fiber Construction Contractor | $3,395,972 |
| Lee Electrical Construction | |||||
| 12828 Hwy 15 501 S | Aberdeen | NC | 28315 | Distribution Contractor | $1,563,376 |
| Conexon | |||||
| 2001 Grand Blvd STE 700 | Kansas City | MO | 64108 | Fiber Project Manager | $1,287,556 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 17 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Electricity Sales | 221000 | $68,959,301 | $68,959,301 |
| Patronage Dividends | 221000 | $1,067,440 | $1,067,440 |
| Consumer Service Fees | 221000 | $208,140 | $208,140 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $70,234,881 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $177,462 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $129,351 | UnrelatedBusinessRevenueAmt |
| Exclusion | $48,111 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $430,421 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $7,997 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Personal | $422,424 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $422,424 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $115,441 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $306,983 | UnrelatedBusinessRevenueAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $160,616 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $160,616 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $160,616 | TotalRevenueColumnAmt |
| Exclusion | $160,616 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $10,771 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $3,159 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $7,612 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,612 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| Misc Non-Operating Inc | 221000 | $5,700 | $5,700 | |
| Loss from Subsidiary | 221000 | -$1,046,692 | -$1,046,692 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | -$1,040,992 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $69,962,003 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $69,311,242 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $436,334 | UnrelatedBusinessRevenueAmt |
| Exclusion | $214,427 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,032,254 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,280,298 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,302,029 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,148,525 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Cost of Power | $42,532,630 |
| Distribution - Maintena | $8,356,537 |
| Administrative & Genera | $3,689,774 |
| Distribution - Operatio | $2,667,355 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,952,601 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,962,003 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $403,480 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,602,791 | BOYAmt |
| EOY | $58,946,722 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,832,076 | BOYAmt |
| EOY | $11,274,035 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $394,110 | BOYAmt |
| EOY | $13,459,013 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $196,028,681 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $66,057,984 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $118,432,902 | BOYAmt |
| EOY | $129,970,697 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,775,912 | BOYAmt |
| EOY | $17,795,097 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,915,914 | BOYAmt |
| EOY | $30,284,937 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $150,357,185 | BOYAmt |
| EOY | $261,730,501 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,614,477 | BOYAmt |
| EOY | $112,518,388 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,307,893 | BOYAmt |
| EOY | $77,094,958 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,049,727 | BOYAmt |
| EOY | $9,487,379 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,972,097 | BOYAmt |
| EOY | $199,100,725 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,070 | BOYAmt |
| EOY | $107,360 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,279,018 | BOYAmt |
| EOY | $62,522,416 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $62,385,088 | BOYAmt |
| EOY | $62,629,776 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $150,357,185 | BOYAmt |
| EOY | $261,730,501 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $244,688 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $703,502 | OtherCostOrOtherBasisAmt |
| Book Value | $703,502 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,429,064 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,147,647 | DepreciationAmt |
| Book Value | $2,281,417 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $189,896,115 | OtherCostOrOtherBasisAmt |
| Depreciation | $62,910,337 | DepreciationAmt |
| Book Value | $126,985,778 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $129,970,697 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (6 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Patronage Capital from Associated Coop | $17,263,682 | C |
| Investments CFC CTC & MCS | $942,901 | C |
| Investment in Federated Insurance | $537,047 | C |
| Investment Homestead Deferred Compensation | $130,210 | F |
| Other Investments in Associated Organizations | $23,292 | C |
| Investment in Subsidiary | -$1,102,035 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $17,795,097 | TotalBookValueProgramRltdAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Intangible Assets | $28,403,734 |
| Other Assets | $1,881,203 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $30,284,937 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| Consumer Deposits | $1,698,558 |
| Deferred Credits | $7,736,373 |
| Capital Credit Clearing | -$1,110 |
| CIAC Undistributed - Oak Ridge Sub | $53,419 |
| Accrued Sales Taxes | $139 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $9,487,379 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | Management has evaluated the Cooperative's tax positions and concluded that the Cooperative has taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mike McWaters | ||||||||||||||
| CEO | $310,312 | $0 | $0 | $0 | $0 | $0 | $147,993 | $0 | $31,448 | $0 | $489,753 | $0 | $0 | $0 |
| Kurt Miller | ||||||||||||||
| Director of Engineering | $195,598 | $0 | $0 | $0 | $0 | $0 | $75,393 | $0 | $23,414 | $0 | $294,405 | $0 | $0 | $0 |
| Mark Mosley | ||||||||||||||
| Director of Safety | $178,751 | $0 | $0 | $0 | $0 | $0 | $64,769 | $0 | $11,423 | $0 | $254,943 | $0 | $0 | $0 |
| John Robinson | ||||||||||||||
| Director of Member Service | $140,372 | $0 | $0 | $0 | $0 | $0 | $44,248 | $0 | $3,399 | $0 | $188,019 | $0 | $0 | $0 |
| Christine Moor | ||||||||||||||
| CFO | $144,160 | $0 | $0 | $0 | $0 | $0 | $17,012 | $0 | $9,275 | $0 | $170,447 | $0 | $0 | $0 |
| Trevor Touchton | ||||||||||||||
| Manager of Power Technical | $130,401 | $0 | $0 | $0 | $0 | $0 | $13,675 | $0 | $21,128 | $0 | $165,204 | $0 | $0 | $0 |
| Jodi Hughes | ||||||||||||||
| Journeyman Lineman | $132,300 | $0 | $0 | $0 | $0 | $0 | $21,971 | $0 | $10,492 | $0 | $164,763 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 6 | The cooperative was formed by the members to provide electric service at cost on a cooperative basis. |
| Form 990, Part VI, Section A, line 7a | The members of the cooperative vote on the board of directors. Elections are done on a one member one vote basis. |
| Form 990, Part VI, Section A, line 7b | The membership must approve/vote on: 1. Election/removal of a new officer 2. Bylaw changes 3. Dissolution or a sale of a substantial portion of assets |
| Form 990, Part VI, Section A, line 8b | From time to time the entire board will go into executive session for discussing items of a sensitive and confidential nature. When this occurs, management and others in attendance are removed from the meeting room. Items discussed in executive session are not documented. However, actions taken by the board after executive sessions are adjourned are fully documented in the written minutes. |
| Form 990, Part VI, Section B, line 11b | After the draft has been prepared by an independent audit firm, a copy of the Form 990 is sent to the CFO and CEO and presented at the next board meeting. Specific sections of the 990 may be highlighted through a PowerPoint by the CFO at the meeting, but the entire report is available for review to all trustees. After approval at the board meeting, it is filed with the IRS. |
| Form 990, Part VI, Section B, line 12c | Board members review and sign the conflict of interest form annually at the September board meeting. Officers, Key Employees, Purchasing Coordinator and Fleet Supervisor also review and sign the form annually. |
| Form 990, Part VI, Section B, line 15a | The General Counsel and Director of Administrative Services sends out the performance evaluation form to all trustees which they then complete and return to her. Once all forms are collected, she gives them to the board president along with the job wage comparison data acquired from the Wage Compensation Consultant. The board to go into executive session where they decide on CEO's raise. The Board President then notifies General Counsel and Director of Administrative Services what the raise will be. She then types it up, has President sign and files it in CEO Personnel File. |
| Form 990, Part VI, Section C, line 19 | The bylaws are available on both the website and at the office upon request. All other documents and financial statements are available to the membership upon request. |
| Form 990, Part IX, Line 4 | The instructions to the Form 990 indicate that organizations exempt under Section 501 (c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. Suwannee Valley Electric Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. Suwannee Valley Electric Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year. |
| Form 990, Part XI, line 9: | Change in Memberships 1,290. Retirements -1,184,543. Unclaimed patronage reassigned 321,520. Other comprehensive income 1,630. Assignment of net margins to members 1,032,254. Capital Credit Gains 72,537. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Suwannee Valley Electric Cooperative Foundation Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11340 100th Street | AddressLine1Txt |
| City | Live Oak | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32060 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 830827107 | EIN |
| Primary Activities | Provides financial assistance | PrimaryActivitiesTxt |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Rapid Fiber Internet LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 11340 100th St Suite B | AddressLine1Txt |
| City | Live Oak | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32060 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 920724017 | EIN |
| Primary Activities | Internet Service Provider | PrimaryActivitiesTxt |
| Legal Domicile State | FL | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Suwannee Valley Electric Cooperative | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $34,655 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $3,281,400 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Rapid Fiber Internet LLC | ||
| Q | $2,414,410 | Cash |
| Suwannee Valley Electric Cooperative Foundation Inc | ||
| R | $109,433 | Cash - Operation Round-up |