VALLEY RURAL ELECTRIC COOPERATIVE INC: Form 990, tax year 2021

View the entire original 990 at ProPublica ↗

Organization: VALLEY RURAL ELECTRIC COOPERATIVE INC (EIN 23-1179011)
Tax period: 2021-01-01 to 2021-12-31
Filed: 2022-05-24
IRS object ID: 202211449349301011
Schema version: 2021v4.2
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
Form 990
Schedule D
Schedule I
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2022-05-24T09:25:41-05:00	ReturnTs
Tax Period End	2021-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	161117932	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BUFFAMANTE WHIPPLE BUTTAFARO PC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	201 WEST THIRD STREET SUITE 300	AddressLine1Txt
City	JAMESTOWN	CityNm
State Abbreviation	NY	StateAbbreviationCd
ZIP	14701	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2021-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	231179011	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	VALLEY RURAL ELECTRIC COOPERATIVE INC	BusinessNameLine1Txt
Business Name Line2	ANCIENT AND HONORABLE WORKERS	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	VALL	BusinessNameControlTxt
Phone	8146432650	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 477	AddressLine1Txt
City	HUNTINGDON	CityNm
State Abbreviation	PA	StateAbbreviationCd
ZIP	166520477	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	RICH BAUER	PersonNm
Person Title	PRESIDENT & CEO	PersonTitleTxt
Phone	8146432650	PhoneNum
Signature	2022-05-24	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	RICH	PersonFirstNm
Person Last	BAUER	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	JAMES C ALEXANDER CPA	PreparerPersonNm
PTIN	P01384001	PTIN
Phone	7163721620	PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	3	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2021	TaxYr
Build TS	2022-09-23 18:48:47Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	RICH BAUER	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 477	AddressLine1Txt
City	HUNTINGDON	CityNm
State Abbreviation	PA	StateAbbreviationCd
ZIP	166520477	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$39,715,172	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c	Yes (X)	Organization501cInd
Website Address	WWW.VALLEYREC.COM	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	1938	FormationYr
Legal Domicile State	PA	LegalDomicileStateCd
Activity Or Mission	DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS.	ActivityOrMissionDesc
Voting Members Governing Body	9	VotingMembersGoverningBodyCnt
Voting Members Independent	9	VotingMembersIndependentCnt
Total Employee	66	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$0	PYContributionsGrantsAmt
CY Contributions Grants	$0	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$51,914	PYInvestmentIncomeAmt
CY Investment Income	$49,350	CYInvestmentIncomeAmt
PY Other Revenue	$21,261,433	PYOtherRevenueAmt
CY Other Revenue	$22,003,664	CYOtherRevenueAmt
PY Total Revenue	$21,313,347	PYTotalRevenueAmt
CY Total Revenue	$22,053,014	CYTotalRevenueAmt
PY Grants And Similar Paid	$30,000	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$39,500	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$2,201,282	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$1,402,516	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$714,203	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$741,652	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$16,025,323	PYOtherExpensesAmt
CY Other Expenses	$15,960,987	CYOtherExpensesAmt
PY Total Expenses	$18,970,808	PYTotalExpensesAmt
CY Total Expenses	$18,144,655	CYTotalExpensesAmt
PY Revenues Less Expenses	$2,342,539	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$3,908,359	CYRevenuesLessExpensesAmt
Total Assets BOY	$93,863,837	TotalAssetsBOYAmt
Total Assets EOY	$99,255,907	TotalAssetsEOYAmt
Total Liabilities BOY	$48,157,046	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$50,407,395	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$45,706,791	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$48,848,512	NetAssetsOrFundBalancesEOYAmt
Mission	DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$18,144,655	ExpenseAmt
Desc	DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS.	Desc
Total Program Service Expenses	$18,144,655	TotalProgramServiceExpensesAmt
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	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	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	Yes (1)	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	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	22	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	66	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
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	$36,437,937	MembersAndShrGrossIncomeAmt
Other Sources Gross Income	$587,827	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	Yes (1)	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	Yes (1)	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	PAMELA DEVORE	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	8146432650	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	PO BOX 477	AddressLine1Txt
City	HUNTINGDON	CityNm
State Abbreviation	PA	StateAbbreviationCd
ZIP	166520477	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
LEROY BARNES
VICE CHAIRMAN	2.40	Yes (X)	Yes (X)	$10,666	$0	$0
RANDALL HUNTSMAN
DIRECTOR	2.00	Yes (X)		$11,666	$0	$0
GREG HENRY
DIRECTOR	1.80	Yes (X)		$10,666	$0	$0
LINDA MCMATH
DIRECTOR	2.10	Yes (X)		$10,666	$0	$0
JOANNE WHITSEL
DIRECTOR	3.20	Yes (X)		$12,166	$0	$0
JAMES STAUFFER
CHAIRMAN	3.60	Yes (X)	Yes (X)	$12,116	$0	$0
KEVIN STATES
DIRECTOR	2.10	Yes (X)		$10,166	$0	$0
CINDY BIGELOW
SECRETARY	3.30	Yes (X)	Yes (X)	$12,166	$0	$0
ROBERT HOLMES
TREASURER	3.00	Yes (X)	Yes (X)	$10,666	$0	$0
PAM DEVORE
MANAGER OF HR AND FINANCIA	40.00		Yes (X)	$165,621	$0	$63,396
RICH BAUER
CEO/PRESIDENT	40.00		Yes (X)	$312,173	$0	$99,518
TODD ROSS
MANAGER OF OPERATIONS	40.00			$146,179	$0	$58,627	Yes (X)
BENJAMIN GORMAN
MANAGER OF BUSINESS ADMIN	40.00			$142,802	$0	$59,819	Yes (X)
STEPHEN GUTSHALL
DISTRICT MANAGER	40.00			$117,936	$0	$49,542	Yes (X)
RANDY BOONIE
DISTRICT MANAGER	40.00			$122,054	$0	$54,175	Yes (X)
MICHAEL LANSBERRY JR
DISTRICT MANAGER	40.00			$120,777	$0	$55,469	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$1,228,486	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$440,546	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 (4 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
PENN LINE SERVICES INC
PO BOX 280	INDIANA	PA	15701	RIGHT OF WAY MAINTENANCE	$1,182,997
B&L TREE SERVICE
924 SIDES ROAD	MANNS CHOICE	PA	15550	RIGHT OF WAY MAINTENANCE	$871,052
AYERS LINE CONSTRUCTION
411 RIDGE ROAD	WILLIAMSBURG	PA	16693	LINE CONSTRUCTION	$177,201
OSMOSE UTILITY SERVICES
PO BOX 117284	ATLANTA	GA	30368	POLE INSPECTIONS	$132,148

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	4	CntrctRcvdGreaterThan100KCnt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$49,350	TotalRevenueColumnAmt
Exclusion	$49,350	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Personal	$864,414	PersonalAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Personal	$0	PersonalAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Personal	$864,414	PersonalAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$864,414	TotalRevenueColumnAmt
Exclusion	$864,414	ExclusionAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$35,806,813	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$17,662,158	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$18,144,655	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,144,655	RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	ExclusionExclusionAmt
PAT CAP FROM ASSOC ORGS	221000	$2,947,968	$2,947,968
OTHER INCOME	221000	$46,627	$46,627

Field	Value	IRS element (for citing)
Other Revenue Total	$2,994,595	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$22,053,014	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,144,655	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$3,908,359	ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$39,500	TotalAmt

Benefits To Members BenefitsToMembersGrp

Field	Value	IRS element (for citing)
Total	$1,402,516	TotalAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$741,652	TotalAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$1,679,715	TotalAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$4,261,990	TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt
DISTRIBUTION MAINTENANC	$4,090,392
ADMINISTRATION AND GEN	$2,876,885
DISTRIBUTION OPERATIONS	$1,630,576
CONSUMER ACCOUNTS	$914,898

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$506,531	TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$18,144,655	TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$744,052	BOYAmt
EOY	$2,815,740	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$2,993,181	BOYAmt
EOY	$2,527,379	EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

Field	Value	IRS element (for citing)
BOY	$553,369	BOYAmt
EOY	$627,233	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,016,397	BOYAmt
EOY	$2,785,127	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$123,153,285	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$46,435,265	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$75,280,170	BOYAmt
EOY	$76,718,020	EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$11,276,668	BOYAmt
EOY	$13,782,408	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$93,863,837	BOYAmt
EOY	$99,255,907	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$4,474,170	BOYAmt
EOY	$6,391,147	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$2,009,037	BOYAmt
EOY	$2,971,739	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$39,230,457	BOYAmt
EOY	$38,562,012	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$2,443,382	BOYAmt
EOY	$2,482,497	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$48,157,046	BOYAmt
EOY	$50,407,395	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	$0	BOYAmt
EOY	$0	EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

Field	Value	IRS element (for citing)
BOY	$17,215,105	BOYAmt
EOY	$21,998,175	EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

Field	Value	IRS element (for citing)
BOY	$28,491,686	BOYAmt
EOY	$26,850,337	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$45,706,791	BOYAmt
EOY	$48,848,512	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$93,863,837	BOYAmt
EOY	$99,255,907	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$3,908,359	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	-$766,638	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
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)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$655,639	OtherCostOrOtherBasisAmt
Book Value	$655,639	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$122,242,345	OtherCostOrOtherBasisAmt
Depreciation	$46,435,265	DepreciationAmt
Book Value	$75,807,080	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$255,301	OtherCostOrOtherBasisAmt
Book Value	$255,301	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$76,718,020	TotalBookValueLandBuildingsAmt

Invst Program Related Org InvstProgramRelatedOrgGrp (2 entries)

DescDesc	Book ValueBookValueAmt	Method ValuationMethodValuationCd
INVESTMENTS IN ASSOCIATED ORGANIZATIONS	$13,728,071	C
TEMPORARY INVESTMENT - COMMERCIAL PAPER	$54,337	C

Field	Value	IRS element (for citing)
Total Book Value Program Rltd	$13,782,408	TotalBookValueProgramRltdAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
ACCUMULATED POST RETIREMENT BENEFIT OBLIGATION	$1,882,497
ACCUMULATED PROVISIONS FOR STORMS	$600,000

Field	Value	IRS element (for citing)
Total Liability	$2,482,497	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$39,715,172	TotalRevEtcAuditedFinclStmtAmt
Other Revenue	$17,662,158	OtherRevenueAmt
Revenue Not Reported	$17,662,158	RevenueNotReportedAmt
Revenue Subtotal	$22,053,014	RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$22,053,014	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$34,404,297	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$17,662,158	OtherExpensesIncludedAmt
Expenses Not Reported	$17,662,158	ExpensesNotReportedAmt
Expenses Subtotal	$16,742,139	ExpensesSubtotalAmt
Other Expenses Not Included	$1,402,516	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$1,402,516	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$18,144,655	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART X, LINE 2:	THE COOPERATIVE IS EXEMPT FROM TAXES ON INCOME PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. CONSEQUENTLY, THE FINANCIAL STATEMENTS REFLECT NO PROVISION FOR TAXES ON INCOME. INCOME TAX RETURNS THAT REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES INCLUDE 2018 AND LATER YEARS.
PART XI, LINE 2D - OTHER ADJUSTMENTS:	POWER COST 17,662,158.
PART XII, LINE 2D - OTHER ADJUSTMENTS:	POWER COST 17,662,158.
PART XII, LINE 4B - OTHER ADJUSTMENTS:	CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS 1,402,516.
PART XII, LINE 4B	THE IRS REQUIRES THE ALLOCATION OF CURRENT YEAR MARGINS TO BE REPORTED ON THE STATEMENT OF FUNCTIONAL EXPENSES LINE 4 AS BENEFITS PAID TO OR FOR MEMBERS. UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ALLOCATIONS OF CAPITAL CREDITS ARE NOT SHOWN AS EXPENSES ON THE COOPERATIVE'S STATEMENT OF ACTIVITIES BUT RATHER ARE ALLOCATED TO MEMBERS THROUGH EQUITY. THEREFORE, THE RECONCILIATION ABOVE IS NECESSARY TO SHOW THE DIFFERENCES BETWEEN THE IRS FORM 990 AND THE AUDITED FINANCIAL STATEMENTS.

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	0	GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Field	Value	IRS element (for citing)
Grant Type	ASSISTANCE TO FAMILIES WITH SEVERE HEALTH CONDITIONS.	GrantTypeTxt
Recipient	2	RecipientCnt
Cash Grant	$39,500	CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

PART I, LINE 2:

EVERY YEAR VALLEY RURAL ELECTRIC COOPERATIVE, INC. HAS A CHARITY GOLF TOURNAMENT TO HELP FAMILIES WITH SEVERE HEALTH CONDITIONS. DUE TO THE PANDEMIC, THE GOLF TOURNAMENT DID NOT TAKE PLACE. HOWEVER, THE BOARD ELECTED TO STILL PROVIDE GRANTS. THE COOPERATIVE'S HEALTH AND WELLNESS COMMITTEE ACCEPTS NOMINATIONS FOR FAMILIES IN NEED AND IN JANUARY THE COMMITTEE HOLDS A MEETING TO REVIEW THE NOMINATIONS AND SELECTS, THROUGH A VOTING PROCESS, THE FAMILIES THAT WILL BENEFIT FROM THE TOURNAMENT. SELECTIONS ARE BASED ON NEED AND SEVERITY OF CONDITION. USUALLY TWO TO THREE FAMILIES ARE SELECTED. PROCEEDS, LESS EXPENSES, GOES DIRECTLY TO THE FAMILIES TO HELP WITH MEDICAL BILLS AND ANY OTHER NEEDS.

FORM 990, SCHEDULE I, PAGE 2, PART III

THE MEMBERS OF THE COMMITTEE ARE INDEPENDENT OF THE FAMILIES UNDER CONSIDERATION FOR THE GRANTS.

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Independent Consultant	Yes (X)	IndependentConsultantInd
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
RICH BAUER
CEO/PRESIDENT	$280,308	$0	$21,250	$0	$10,615	$0	$72,594	$0	$26,924	$0	$411,691	$0	$0	$0
PAM DEVORE
MANAGER OF HR AND FINANCIA	$152,570	$0	$9,750	$0	$3,301	$0	$38,700	$0	$24,696	$0	$229,017	$0	$0	$0
TODD ROSS
MANAGER OF OPERATIONS	$136,798	$0	$6,750	$0	$2,631	$0	$34,762	$0	$23,865	$0	$204,806	$0	$0	$0
BENJAMIN GORMAN
MANAGER OF BUSINESS ADMIN	$136,052	$0	$6,750	$0	$0	$0	$34,566	$0	$25,253	$0	$202,621	$0	$0	$0
MICHAEL LANSBERRY JR
DISTRICT MANAGER	$115,100	$0	$1,250	$0	$4,427	$0	$29,291	$0	$26,178	$0	$176,246	$0	$0	$0
RANDY BOONIE
DISTRICT MANAGER	$120,804	$0	$1,250	$0	$0	$0	$30,809	$0	$23,366	$0	$176,229	$0	$0	$0
STEPHEN GUTSHALL
DISTRICT MANAGER	$116,686	$0	$1,250	$0	$0	$0	$24,277	$0	$25,265	$0	$167,478	$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	LINE 6 EXPLANATION - MEMBERS OF RURAL ELECTRIC COOPERATIVE ARE CONSUMERS OF ELECTRICITY
FORM 990, PART VI, SECTION A, LINE 7A	LINE 7A EXPLANATION - GOVERNING BODY IS ELECTED BY MEMBERS BY BALLOT VOTE
FORM 990, PART VI, SECTION A, LINE 7B	LINE 7B EXPLANATION - A DECISION BY THE GOVERNING BOARD TO DISSOLVE OR DIVERT SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTY AND/OR ASSETS REQUIRES THE AUTHORIZATION BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE. AS STATED IN THE BY-LAWS, MEMBERS CAN ALSO REMOVE A BOARD MEMBER BY MAJORITY VOTE, SUBJECT TO A QUORUM BEING PRESENT.
FORM 990, PART VI, SECTION B, LINE 11B	LINE 11A EXPLANATION - FORM 990 PROVIDED TO BOARD MEMBERS VIA ELECTRONIC OR PAPER FORMAT BEFORE FILING.
FORM 990, PART VI, SECTION B, LINE 12C	ANNUALLY, EACH DIRECTOR, OFFICER AND KEY EMPLOYEE SHALL COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. ANNUALLY, IT SHALL BE THE RESPONSIBILITY OF THE BYLAW AND POLICY COMMITTEE, WITH ASSISTANCE FROM THE COOPERATIVE ATTORNEY, TO REVIEW ALL FORMS AND REPORT ANY CONFLICTS/POTENTIAL CONFLICTS TO THE BOARD OF DIRECTORS. IT SHALL BE THE RESPONSIBILITY OF THE BOARD OF DIRECTORS TO DETERMINE WHAT, IF ANY, ACTION IS REQUIRED AS A RESULT OF A CONFLICT OF INTEREST.
FORM 990, PART VI, SECTION B, LINE 15	AN OUTSIDE CONSULTANT FROM NRECA PROVIDES THE BENCHMARKS FOR THE DIFFERENT TIERS OF EMPLOYEES. THESE FIGURES ARE PROVIDED TO THE BOARD. THE BOARD THEN REVIEWS THE BENCHMARKS. THE BOARD APPROVES THE CEO/PRESIDENT'S SALARY, WHILE THE CEO/PRESIDENT APPROVES THE DEPARTMENT DIRECTORS' SALARIES BASED ON THE BENCHMARKS AND THE BUDGET APPROVED BY THE BOARD. THESE BENCHMARKS ARE UPDATED EVERY FEW YEARS.
FORM 990, PART VI, SECTION C, LINE 18	COPY AVAILABLE AT MAIN OFFICE
FORM 990, PART VI, SECTION C, LINE 19	COPY AVAILABLE AT MAIN OFFICE
FORM 990, PART XI, LINE 9:	MEMBERSHIP FEES CANCELLED -6,505. GAIN ON RETIREMENT OF CAPITAL CREDITS 108,257. RETIREMENT OF CAPITAL CREDITS -3,015,927. CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS 1,402,516. AMORTIZATION OF NET ACTUARIAL GAIN -27,938. GAIN FROM DISCOUNTING GENERAL RETIREMENT 772,959.
FORM 990, PART XII, LINE 2C	THE PROCESS HAS NOT UNDERGONE ANY CHANGES FROM THE PRIOR YEAR