2022-10-31T09:43:57-05:00 2021-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2021-01-01 840358317 YAMPA VALLEY ELECTRIC ASSOCIATION YAMP 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 WADE PYNES VP OF FINANCE 9708791160 2022-10-27 1 WADE PYNES 999009999 WILLIAM M MILLER P00439459 8067473806 2022-10-25 X 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STEVE JOHNSON 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 73045241 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 93 0 9157904 0 0 0 61911047 63723205 135283 76947 2306559 9215861 64352889 73016013 14926 44145 4431987 2577306 10247665 10721103 0 0 0 47801409 57210643 62495987 70553197 1856902 2462816 159181178 179531578 76375795 101283823 82805383 78247755 YAMPA VALLEY ELECTRIC ASSOCIATION IS A COOPERATIVE THAT ENHANCES THE LIVES OF ITS MEMBER-OWNERS THROUGH TECHNOLOGY AND CONSULTING RESOURCES THAT DELIVER CLEAN, SAFE, AND RELIABLE ELECTRIC 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 27,837 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 69 0 93 1 1 1 0 0 0 0 65762457 3299467 0 0 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 1 0 X WADE PYNES VP OF FINANCE 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 X QUENTIN DEAN BROSIOUS VICE CHAIRMAN 5.00 X X 13077 0 0 DEBBIE COOK DIRECTOR 8.00 X 22019 0 0 PATRICK DELANEY DIRECTOR 5.00 X 13370 0 0 THOMAS FOX CHAIRMAN 7.50 X X 19295 0 0 SONJA MACYS DIRECTOR 5.00 X 18743 0 0 SCOTT MCGILL DIRECTOR 11.00 X 27228 0 0 SASHA NELSON DIRECTOR (APR-DEC) 2.50 X 14614 0 0 KEN ROGERS DIRECTOR 3.00 X 17355 0 0 GLYNDA S SHEEHAN DIRECTOR 5.70 X 15776 0 0 JEAN STETSON TREASURER (JAN-MARCH) 2.50 X X 1725 0 0 VIRGINIA HARMAN VP OF OPERATIONS 48.00 X 57378 0 18104 STEVEN JOHNSON GM/PRESIDENT 55.00 X 307719 0 207605 AMY MAHON FINANCE MANAGER/TREASURER 60.00 X 157903 0 59633 WADE PYNES VP OF FINANCE 60.00 X 48307 0 15747 LARISSA ROCK EXECUTIVE ASSISTANT/SECRETARY 40.00 X 91334 0 40107 BENJAMIN HOFFNER CHIEF EXECUTIVE ENGINEER/VP 50.00 X 166937 0 70685 JOHN CROMER OPERATIONS MANAGER 55.00 X 145608 0 87536 RANDI OWENS HR MANAGER 50.00 X 143752 0 56200 STEVEN PENEBAKER SUBSTATION FOREMAN 40.00 X 136285 0 59372 KELLI ROOT IT MANAGER 52.00 X 148165 0 103183 CHASE WESTBERG WORKING FOREMAN 40.00 X 137753 0 44909 1704343 0 763081 28 0 1 0 WOLF LINE CONSTRUCTION COMPANY 1831 REYNOLDS AVE NORTH CHARLESTON SC 29405 FIBER CONSTRUCTION 5356743 WARD ELECTRIC CO INC 9586 E I-25 FRONTAGE RD STE B LONGMONT CO 80504 LINE CONSTRUCTION 4277719 MAVERICK CONSTRUCTION CORP ONE WESTINGHOUSE PLAZA BLDG D BOSTON MA 02136 FIBER CONSTRUCTION 3162639 FOUR D CONSTRUCTION LLC 8188 CR 179 RICHARDS TX 77873 FIBER CONSTRUCTION 1618927 COLORADO POWERLINE INC PO BOX 937 SEDALIA CO 80135 LINE CONSTRUCTION 1532381 21 X SALES OF ELECTRICITY 221000 62749756 62749756 PATRONAGE DIVIDENDS 221000 463213 463213 MISC SERVICE FEES & SALES 221000 238679 238679 OTHER PROGRAM REVENUE 221000 190548 190548 RENEWABLE ENERGY CREDITS 221000 81009 81009 63723205 57775 57775 48400 29228 19172 19172 19172 LUMINATE FIBER SALES - GRANTS & C 517000 7568426 7568426 LUMINATE FIBER SALES 517000 1590698 1590698 POLE ATTACHMENT INCOME 221000 53516 53516 3221 -1220 4441 9215861 73016013 63742377 9157904 115732 X 44145 2577306 1404661 6785728 1283527 829045 418142 2355300 6630748 PURCHASED POWER 39756400 DISTRIBUTION EXPENSE 4494722 ADMIN & GENERAL EXPENSE 1821206 CONSUMER EXPENSE 1038188 1114079 70553197 2094112 2638971 4938473 7575552 6182525 7086333 2177320 2443157 232737709 77039641 139846648 155698068 3746865 3891870 195235 197627 159181178 179531578 10630492 10962478 4962451 61675277 81145467 4070026 4213427 76375795 101283823 X 0 0 0 0 82805383 78247755 82805383 78247755 159181178 179531578 X 2462816 -7020444 X X 0 1 X 1 0 3282862 3282862 26806853 4167637 22639216 191867578 72870663 118996915 10780416 1341 10779075 155698068 DEFERRED CREDITS - REFUNDABLE AID TO CONSTRUCTIONS 772784 DEFERRED CREDITS - UNCLAIMED CAPITAL CREDITS 1037840 DEFERRED COMPENSATION 2480 CONSUMER DEPOSITS 479837 ACCRUED OPERATING TAXES 1920486 4213427 X 65690820 229047 229047 65461773 7554240 7554240 73016013 68111667 229047 229047 67882620 2670577 2670577 70553197 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: ELIMINATION OF INTERCOMPANY RENTAL AND LEASE REV/EXP 229,047. PART XI, LINE 4B - OTHER ADJUSTMENTS: NON-OPERATING EXPENSES RECLASSIFIED TO FORM 990 PART IX 2,075. MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990 PART IX 91,196. LUMINATE FIBER CONSTRUCTION GRANTS - UBI TAX BASIS 6,516,098. LUMINATE FIBER CONTRIBUTIONS IN AID OF CONSTRUCTION - UBI TAX BASIS 944,871. PART XII, LINE 2D - OTHER ADJUSTMENTS: ELIMINATION OF INTERCOMPANY RENTAL AND LEASE REV/EXP 229,047. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 2,577,306. NON-OPERATING EXPENSES RECLASSIFIED TO FORM 990 PART IX 2,075. MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990, PART IX 91,196. 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) 40990 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. X 1 1 X X 0 0 0 STEVEN JOHNSON GM/PRESIDENT 288047 0 933 0 18739 0 172540 0 35065 0 515324 0 0 0 KELLI ROOT IT MANAGER 140238 0 1947 0 5980 0 87681 0 15502 0 251348 0 0 0 BENJAMIN HOFFNER CHIEF EXECUTIVE ENGINEER/VP 158145 0 1342 0 7450 0 34392 0 36293 0 237622 0 0 0 JOHN CROMER OPERATIONS MANAGER 136538 0 1933 0 7137 0 53609 0 33927 0 233144 0 0 0 AMY MAHON FINANCE MANAGER/TREASURER 148285 0 1910 0 7708 0 35350 0 24283 0 217536 0 0 0 RANDI OWENS HR MANAGER 138607 0 1962 0 3183 0 26989 0 29211 0 199952 0 0 0 STEVEN PENEBAKER SUBSTATION FOREMAN 127557 0 1952 0 6776 0 35331 0 24041 0 195657 0 0 0 CHASE WESTBERG WORKING FOREMAN 136828 0 712 0 213 0 16358 0 28551 0 182662 0 0 0 PART I, LINE 1A THE COOPERATIVE PROVIDED HOUSE ALLOWANCES/RELOCATION REIMBURSEMENTS TO TWO INDIVIDUALS LISTED IN PART VII OF THE FORM 990: WADE PYNES RECEIVED $80,000 IN DOWN PAYMENT ASSISTANCE, VESTING OVER 5 YEARS AS WELL AS $9,825 FOR RELOCATION EXPENSE. VIRGINIA HARMAN RECEIVED $80,000 IN DOWN PAYMENT ASSISTANCE, VESTING OVER 5 YEARS AS WELL AS $8,543 FOR RELOCATION EXPENSE. 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. STEVE JOHNSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 159,979 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,561 TOTAL REPORTED IN COLUMN C $ 172,540 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (159,979) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 78,633 EXPENSE TO THE COOPERATIVE $ 91,194 KELLI ROOT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 81,626 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,055 TOTAL REPORTED IN COLUMN C $ 87,681 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (81,626) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,550 EXPENSE TO THE COOPERATIVE $ 45,605 BENJAMIN HOFFNER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,273 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,119 TOTAL REPORTED IN COLUMN C $ 34,392 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,273) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,890 EXPENSE TO THE COOPERATIVE $ 53,009 JOHN CROMER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,687 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,922 TOTAL REPORTED IN COLUMN C $ 53,609 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,687) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,520 EXPENSE TO THE COOPERATIVE $ 44,442 AMY MAHON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,486 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,864 TOTAL REPORTED IN COLUMN C $ 35,350 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,486) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,097 EXPENSE TO THE COOPERATIVE $ 48,961 RANDI OWENS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,951 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,038 TOTAL REPORTED IN COLUMN C $ 26,989 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,951) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,459 EXPENSE TO THE COOPERATIVE $ 45,497 STEVEN PENEBAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,704 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,627 TOTAL REPORTED IN COLUMN C $ 35,331 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,704) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,474 EXPENSE TO THE COOPERATIVE $ 37,101 CHASE WESTBERG: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,669 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,689 TOTAL REPORTED IN COLUMN C $ 16,358 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,669) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,135 EXPENSE TO THE COOPERATIVE $ 35,824 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 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 5. AMENDMENT TO SECTIONS OF THE BYLAWS 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, PARTS VI & VII: THE ASSOCIATION ANNUALLY PROVIDES EACH DIRECTOR/TRUSTEE WHO SERVED ON THE BOARD DURING THE YEAR A QUESTIONNAIRE AND TIME LOG. THE COMPLETED QUESTIONNAIRES AND TIME LOGS ARE USED TO COMPLETE THE APPLICABLE QUESTIONS ON THE FORM 990 PERTAINING TO BUSINESS RELATIONSHIPS AMONG DIRECTORS, OFFICERS, AND KEY EMPLOYEES, AS WELL AS TO DETERMINE IF THERE ARE ANY TRANSACTIONS WHICH MUST BE REPORTED IN DETAIL ON SCHEDULE L - "TRANSACTIONS WITH INTERESTED PERSONS". IF THE ASSOCIATION WAS UNABLE TO OBTAIN A COMPLETED QUESTIONNAIRE AND/OR TIME LOG, THE ASSOCIATION RELIED UPON THE COMPLETED INFORMATION FOR THE PRIOR YEAR. 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 2021 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 $ 8,193,074 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (163,202) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (414,566) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 15,538 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,323,112 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 538,345 TOTAL WAGES ACCRUED AND/OR PAID $ 9,492,301 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,579,234 EMPLOYEE TRAINING & BENEFITS 313,554 OFFICE SUPPLIES 534,250 OUTSIDE SERVICES 758,774 INJURIES & DAMAGES 332,791 INSURANCE & REGULATORY FEES 76,483 PUBLIC RELATIONS 56,831 DUES & SUBSCRIPTIONS 147,386 DIRECTORS 169,677 MAINTENANCE OF GENERAL PLANT 847,358 MISCELLANEOUS GENERAL 72,988 LUMINATE FIBER ADMIN & GENERAL 1,157,905 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 7,047,231 LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (163,202) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (3,526,356) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,411,759) LESS: RECLASS OF INTERCOMPANY REVENUE/EXPENSE (124,708) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 1,821,206 FORM 990, PART IX, LINE 24E: OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: TRANSMISSION $ 254,858 OTHER DEDUCTIONS 28,336 COST OF SALES OF FIBER 1,020,200 SALES 142,666 PROVISION FOR INCOME TAX EXPENSE (BENEFIT) (425,252) UNCLAIMED PROPERTY ADVERTISING 2,075 MERCHANDISING EXPENSES 91,196 TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 1,114,079 FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 2,577,306. DONATED CAPITAL 7,739. PATRONAGE CAPITAL RETIRED - TOTAL -2,167,834. PATRONAGE CAPITAL RETIRED - DISCOUNT 23,314. LUMINATE FIBER SALES - UBI TAX BASIS OF CONSTRUCTION GRANTS -6,516,098. LUMINATE FIBER SALES - UBI TAX BASIS OF CONTRIBUTION IN AID OF CONSTRUCTION -944,871. 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. LUMINATE FIBER LLC 2211 ELK RIVER RD STEAMBOAT SPRINGS CO 80487 833781878 HIGH SPEED INTERNET & VOIP PHONE SERVICE CO 3362407 4788095 YAMPA VALLEY ELECTRIC ASSOCIATION YVEA CARING CONSUMERS FOUNDATION PO BOX 771218 STEAMBOAT SPRINGS CO 80477 881424966 BETTERING THE QUALITY OF LIFE OF CITIZENS WITHIN THE AREA CO 501(C)(3) LINE 7 YAMPA VALLEY ELECTRIC ASSOCIATION 1 YAMPA VENTURE SERVICES INC PO BOX 771218 STEAMBOAT SPRINGS CO 80477 841537973 INACTIVE CO YAMPA VALLEY ELECTRIC ASSOCIATION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 YVEA CARING CONSUMERS FOUNDATION N N/A - LESS THAN $50,000 YVEA CARING CONSUMERS FOUNDATION O N/A - LESS THAN $50,000