2024-11-15T11:23:11-06:00 2023-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2023-01-01 840358317 YAMPA VALLEY ELECTRIC ASSOCIATION YAMP 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 EMILY ZVORAK MGR OF FINANCE & ACCOUNTING 9708791160 2024-11-15 1 0 WILLIAM M MILLER P00439459 8067473806 2024-11-15 X 2023 2024-10-15 13:58:12Z STEVE JOHNSON 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 78651982 0 X WWW.YVEA.COM X 1940 CO TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 9 9 95 0 6956536 0 0 0 71354969 71031580 136421 520263 4335837 7049985 75827227 78601828 33966 22119 926346 5977817 12426680 12511267 0 0 0 61419334 58592610 74806326 77103813 1020901 1498015 208374806 210963955 132838142 130365652 75536664 80598303 YAMPA VALLEY ELECTRIC ASSOCIATION IS A COOPERATIVE THAT PROVIDES VALUE TO ITS MEMBER-OWNERS THROUGH TECHNOLOGY THAT DELIVERS SAFE AND RELIABLE ELECTRICAL SERVICE IN AN ENVIRONMENTALLY AND FINANCIALLY RESPONSIBLE MANNER. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 28,322 CONSUMERS AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 75 0 95 1 1 1 0 0 0 0 81044033 10447396 0 0 0 X 9 9 0 0 1 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 1 0 X EMILY ZVORAK MGR OF FINANCE & ACCOUNTING 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 X SCOTT MCGILL DIRECTOR 8.00 X 28200 0 0 PATRICK DELANEY DIRECTOR 3.00 X 18969 0 0 THOMAS FOX CHAIRMAN 3.30 X X 18640 0 0 KEN ROGERS VICE CHAIRMAN 2.20 X X 16985 0 0 GLYNDA S SHEEHAN TREASURER 3.50 X X 15225 0 0 SASHA NELSON DIRECTOR 4.00 X 14807 0 0 STEVEN RAY BOOKER DIRECTOR 4.00 X 13145 0 0 DANIEL LEBLANC DIRECTOR 2.70 X 12735 0 0 DEBBIE COOK DIRECTOR (JAN-JUNE) 4.30 X 9019 0 0 RAYMOND DUBOIS DIRECTOR (JULY-DEC) 7.50 X 8460 0 0 STEVEN JOHNSON GM/PRESIDENT 43.00 X 379044 0 177591 LARISSA ROCK EXECUTIVE ASSISTANT/SECRET 40.00 X 95626 0 45413 JOHN CROMER OPERATIONS MANAGER 43.00 X 193200 0 86481 JAMES CROSS ENGINEERING MANAGER 41.00 X 182933 0 95973 KELLI ROOT IT MANAGER 41.00 X 167440 0 101213 MEGAN MOORE-KEMP MEMBER RELATIONS MANAGER 40.00 X 172014 0 64883 EMILY ZVORAK FINANCE MANGER 40.00 X 169411 0 32817 PATRICK SPENGLER ENGINEERING SVCS MGR 40.00 X 159347 0 19993 REX STAFFORD LINEMAN 53.00 X 171447 0 79395 DAVE SRITE FOREMAN 48.00 X 166069 0 60893 JACOB PERKINS LINEMAN 52.00 X 176808 0 40982 CHASE WESTBERG FOREMAN 47.00 X 167100 0 41528 CHARLES TUCKER SAFETY COORDINATOR 48.00 X 168680 0 26393 2525304 0 873555 54 0 1 0 WARD ELECTRIC CO INC 9586 E I-25 FRONTAGE RD STE B LONGMONT CO 80504 LINE CONSTRUCTION 3935370 FOUR DAVIS CONSTRUCTION LLC 8188 CR 179 RICHARDS TX 77873 FIBER CONSTRUCTION 2072816 FOOTHILLS ENERGY SERVICES LLC PO BOX 603 FRANKTOWN CO 80116 SUBSTATION CONSTRUCTION 1045588 FINLEY ENGINEERING COMPANY INC PO BOX 959624 SAINT LOUIS MO 63195 FIBER CONSTRUCTION 880087 ASPLUNDH TREE EXPERT CO PO BOX 532729 ATLANTA GA 30353 LINE TREE TRIMMING 786009 22 X SALES OF ELECTRICITY 221000 69188174 69188174 PATRONAGE DIVIDENDS 221000 771822 771483 339 SALE OF RENEWABLE ENERGY CREDIT 221000 549845 549845 MISC SERVICE FEES & SALES 221000 432627 432627 OTHER PROGRAM REVENUE 221000 89112 89112 71031580 525917 525917 44500 50154 -5654 -5654 34751 -40405 LUMINATE FIBER SALES 517000 4874569 4874569 LUMINATE GRANTS & CIAC 221000 2122033 2122033 POLE ATTACHMENT INCOME 221000 53383 53383 7049985 78601828 71065992 6956536 579300 X 22119 5977817 2299564 7428415 1138819 997846 646623 4725098 8352382 PURCHASED POWER 36392479 DISTRIBUTION EXPENSE 4323617 ADMIN & GENERAL EXPENSE 2447644 CONSUMER EXPENSE 737630 1613760 77103813 10017699 11315059 11284991 9416409 55000 9320794 9420066 2410240 2267126 262428546 89411038 169773880 173017508 4613161 5044471 899041 483316 208374806 210963955 14942956 7344283 6898815 9438720 107035992 108427529 3960379 5155120 132838142 130365652 X 0 0 0 0 75536664 80598303 75536664 80598303 208374806 210963955 X 1498015 3563624 X X 0 1 X 1 0 3282862 3282862 27900535 5800697 22099838 228999071 83610341 145388730 2246078 2246078 173017508 DEFERRED CREDITS - REFUNDABLE AID TO CONSTRUCTION 130940 DEFERRED CREDITS - UNCLAIMED CAPITAL CREDITS 1131720 CONSUMER DEPOSITS 393804 ACCRUED OPERATING TAXES 1228435 OVER RECOVERY OF PCA 2270221 5155120 X 76462904 38094 38094 76424810 2177018 2177018 78601828 71071011 0 71071011 6032802 6032802 77103813 PART X, LINE 2: THE ASSOCIATION FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE ASSOCIATION IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE ASSOCIATION DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, OR OTHER STATE TAXING AUTHORITY, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UBI TAX BASIS ADJUSTMENT FOR SALE OF PROPERTY 38,094. PART XI, LINE 4B - OTHER ADJUSTMENTS: OPERATING EXPENSES RECLASSIFIED TO FORM 990 PART IX 4,374. MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990 PART IX 50,611. LUMINATE FIBER CONTRIBUTIONS IN AID OF CONSTRUCTION & GRANTS - UBI TAX BASIS 2,122,033. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,977,817. OPERATING EXPENSES RECLASSIFIED TO FORM 990 PART IX 4,374. MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990, PART IX 50,611. PART VIII: THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART VIII HAS BEEN LEFT BLANK. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE ASSOCIATION FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE ASSOCIATION'S BYLAWS. 0 ENERGY OUTREACH COLORADO 225 E 16TH AVE SUITE 200 DENVER CO 80203 742543881 501(C)(3) 21219 0 LOW INCOME ENERGY ASSISTANCE PROGRAM CONTRIBUTIONS 1 PART II: ALL GRANTS, SPONSORSHIPS, AND/OR DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA, AND ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. 1 X X X 0 0 0 STEVEN JOHNSON GM/PRESIDENT 339622 0 440 0 38982 0 141193 0 36398 0 556635 0 0 0 JOHN CROMER OPERATIONS MANAGER 173118 0 429 0 19653 0 47315 0 39166 0 279681 0 0 0 JAMES CROSS ENGINEERING MANAGER 176250 0 436 0 6247 0 79389 0 16584 0 278906 0 0 0 KELLI ROOT IT MANAGER 158380 0 440 0 8620 0 84763 0 16450 0 268653 0 0 0 REX STAFFORD LINEMAN 167979 0 650 0 2818 0 61966 0 17429 0 250842 0 0 0 MEGAN MOORE-KEMP MEMBER RELATIONS MANAGER 160965 0 5476 0 5573 0 27561 0 37322 0 236897 0 0 0 DAVE SRITE FOREMAN 160055 0 439 0 5575 0 22948 0 37945 0 226962 0 0 0 JACOB PERKINS LINEMAN 172423 0 422 0 3963 0 9060 0 31922 0 217790 0 0 0 CHASE WESTBERG FOREMAN 162633 0 406 0 4061 0 11587 0 29941 0 208628 0 0 0 EMILY ZVORAK FINANCE MANGER 163582 0 414 0 5415 0 12314 0 20503 0 202228 0 0 0 CHARLES TUCKER SAFETY COORDINATOR 157392 0 431 0 10857 0 12609 0 13784 0 195073 0 0 0 PATRICK SPENGLER ENGINEERING SVCS MGR 154926 0 39 0 4382 0 13485 0 6508 0 179340 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. STEVEN JOHNSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 128,272 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,921 TOTAL REPORTED IN COLUMN C $ 141,193 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (128,272) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 61,843 EXPENSE TO THE COOPERATIVE $ 74,764 JOHN CROMER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,003 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,312 TOTAL REPORTED IN COLUMN C $ 47,315 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,003) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,410 EXPENSE TO THE COOPERATIVE $ 37,722 JAMES CROSS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 71,980 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,409 TOTAL REPORTED IN COLUMN C $ 79,389 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (71,980) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,362 EXPENSE TO THE COOPERATIVE $ 39,771 KELLI ROOT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,011 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,752 TOTAL REPORTED IN COLUMN C $ 84,763 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,011) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,169 EXPENSE TO THE COOPERATIVE $ 35,291 REX STAFFORD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,913 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,053 TOTAL REPORTED IN COLUMN C $ 61,966 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,913) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,570 EXPENSE TO THE COOPERATIVE $ 27,623 MEGAN MOORE-KEMP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,403 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,158 TOTAL REPORTED IN COLUMN C $ 27,561 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,403) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,149 EXPENSE TO THE COOPERATIVE $ 37,307 DAVE SRITE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,008 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,940 TOTAL REPORTED IN COLUMN C $ 22,948 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,008) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,787 EXPENSE TO THE COOPERATIVE $ 28,727 JACOB PERKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,692 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,368 TOTAL REPORTED IN COLUMN C $ 9,060 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,692) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,299 EXPENSE TO THE COOPERATIVE $ 25,667 CHASE WESTBERG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 4,915 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,672 TOTAL REPORTED IN COLUMN C $ 11,587 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (4,915) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,159 EXPENSE TO THE COOPERATIVE $ 28,831 EMILY ZVORAK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,146 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,168 TOTAL REPORTED IN COLUMN C $ 12,314 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,146) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,637 EXPENSE TO THE COOPERATIVE $ 34,805 CHARLES TUCKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,793 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,816 TOTAL REPORTED IN COLUMN C $ 12,609 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (12,609) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,718 EXPENSE TO THE COOPERATIVE $ 30,534 PATRICK SPENGLER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,112 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,373 TOTAL REPORTED IN COLUMN C $ 13,485 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,112) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,631 EXPENSE TO THE COOPERATIVE $ 34,004 FORM 990, PART VI, SECTION A, LINE 1A THE ASSOCIATION HAS 9 BOARD MEMBERS; ALL 9 ARE ALLOWED TO VOTE. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR, THE COOPERATIVE'S BYLAWS WERE AMENDED. THE FOLLOWING IS A SUMMARY OF THE CHANGES: ARTICLE 1. MEMBERS. SECTION 8. PROPERTY INTEREST OF MEMBERS. NEW SECTION STATES THAT UPON DISSOLUTION OF COOPERATIVE AFTER ALL DEBTS AND LIABILITIES HAVE BEEN PAID, ALL CAPITAL HAS BEEN RETIRED AS PROVIDED IN THESE BYLAWS, REMAINING PROPERTY WILL BE DISTRIBUTED AMONGST MEMBERS AND FORMER MEMBERS IN PROPORTION OF AGGREGATE PATRONAGE OF ALL MEMBERS DURING THE TEN YEAR PRECEDING FILING OF DISSOLUTION. ARTICLE II. SECTION 4. QUORUM. ADDED THAT IF BOARD AUTHORIZES VOTING BY MAIL BALLOT OR ELECTRONIC MEANS, MEMBER WHO VOTED BY MAIL OR ELECTRONICALLY ARE CONSIDERED PRESENT AND IN PERSON FOR QUORUM PURPOSES. SECTION 10. ELECTRONIC VOTING. NEW SECTION ALLOWS FOR BOARD TO ALLOW MEANS OF VOTING ELECTRONICALLY. ALSO STATES THAT MEMBER MAY ONLY VOTE BY ONE MEANS, WHETHER THAT BE BY MAIL, ELECTRONICALLY, OR IN PERSON. ALSO STATES THAT IF A MEMBER VOTES BY MORE THAN ONE METHOD, THAT MEMBERS VOTE IS INVALIDATED. REITERATES THAT IF A MEMBER CHOOSES TO VOTE ELECTRONICALLY, THEY ARE CONSIDERED PRESENT FOR QUORUM PURPOSES. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION 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 ASSOCIATION 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 FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE ASSOCIATION: 1. DISSOLUTION/LIQUIDATION OF THE ASSOCIATION 2. MERGER OR CONSOLIDATION OF THE ASSOCIATION WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE ASSOCIATION'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION FORM 990, PART VI, SECTION A, LINE 8B THE ASSOCIATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDED A COPY OF THE RETURN TO THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PERFORM AN ANNUAL REVIEW AND UTILIZE INTERNAL RESOURCES AS WELL AS THE FORM 990 FROM OTHER ORGANIZATIONS WHEN DETERMINING THE COMPENSATION OF THE GENERAL MANAGER. THE GENERAL MANAGER UTILIZES INTERNAL RESOURCES AS WELL AS A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE ASSOCIATION PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE ASSOCIATION WITH THE ANNUAL REPORT. ADDITIONALLY, A COMPLETE COPY OF THE BYLAWS ARE LOCATED ON THE COOPERATIVE'S WEBSITE. HTTPS://WWW.YVEA.COM/YVEA-BYLAWS FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE ASSOCIATION HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE ASSOCIATION PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING EMPLOYEE OFFICERS AND HIGLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE ASSOCIATION ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES, INCLUDING EMPLOYEE OFFICERS AND HIGLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE ASSOCIATION TO ITS MEMBERS. FORM 990, PART IX: ALTHOUGH NO LONGER A USDA RURAL UTILITIES SERVICE (RUS) BORROWER, THE ACCOUNTING RECORDS OF THE ASSOCIATION ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE ASSOCIATION ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE ASSOCIATION'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE ASSOCIATION OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE ASSOCIATION'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE ASSOCIATION FOR THE 2023 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE ASSOCIATION OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE ASSOCIATION HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 9,727,979 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (156,185) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (624,364) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 38,827 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,576,904 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 592,315 TOTAL WAGES ACCRUED AND/OR PAID $11,155,476 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,608,191 EMPLOYEE TRAINING & BENEFITS 835,257 OFFICE SUPPLIES 451,563 OUTSIDE SERVICES 1,317,342 INJURIES & DAMAGES 387,537 INSURANCE & REGULATORY FEES 95,004 PUBLIC RELATIONS 14,384 DUES & SUBSCRIPTIONS 157,977 DIRECTORS 190,289 MAINTENANCE OF GENERAL PLANT 712,401 MISCELLANEOUS GENERAL 99,785 LUMINATE FIBER ADMIN & GENERAL 1,405,360 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 8,275,090 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (156,185) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (4,107,071) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,564,190) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 2,447,644 FORM 990, PART IX, LINE 24E: OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: COST OF INTERNET SALES AND SERVICE $ 863,550 MERCHANDISING EXPENSES 50,611 SALES 229,653 TRANSMISSION 389,343 UNCLAIMED PROPERTY ADVERTISING 824 OTHER DEDUCTIONS 140,645 OPERATING TAXES 2,154 PROVISION FOR INCOME TAX EXPENSE (BENEFIT) (63,020) TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 1,613,760 FORM 990, PART XI, LINE 9: DONATED CAPITAL 7,682. PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 5,977,817. PATRONAGE CAPITAL RETIRED - TOTAL -399,722. PATRONAGE CAPITAL RETIRED - DISCOUNT 30,996. LUMINATE FIBER SALES - UBI TAX BASIS OF CONTRIBUTION IN AID OF CONSTRUCTION -2,122,033. UNCLAIMED PATRONAGE CAPITAL CONTRIBUTED 30,790. LUMINATE FIBER SALES - UBI TAX BASIS ADJUSTMENT FOR SALE OF ASSET 38,094. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. 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