2022-11-14T10:40:30-06:00 2021-12-31 FORVIS LLP PO BOX 3667 LITTLE ROCK AR 722033667 990 2021-01-01 730171526 CANADIAN VALLEY ELECTRIC COOPERATIVE INC % JAMIE SCOTT CANA 4053823680 11277 N HWY 99 SEMINOLE OK 74868 GARY HIGHLEY CEO 4053823680 2022-11-11 true GARY HIGHLEY 000000000 AMBER SHERRILL P00748683 5013721040 2 2021 2022-09-23 18:48:47Z X GARY HIGHLEY 11277 N HWY 99 SEMINOLE OK 74868 76177313 false X WWW.MYCVEC.COOP X 1939 OK TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. 8 8 106 8 -6346817 0 0 1411887 62815742 73442789 1205391 526386 232536 -6110749 64253669 69270313 0 0 2929732 2840102 4469339 5327403 0 0 0 56854598 66416363 64253669 74583868 -5313555 129647902 173885980 57457965 98631406 72189937 75254574 TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. false false TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. false true false false false false false false false true false true true true false false true false false false false false false false false false false false true false false false false false false false false false false false true true true false true 20 0 true 106 true false false false false false 71902028 2459371 false false false X 8 8 false false false false true true true true true false false true true true true true true true true false OK X JAMIE SCOTT 4053823680 11277 N HWY 99 SEMINOLE OK 74868 X GARY HIGHLEY CEO 45.0 0.0 X 239423 0 50624 JOSHUA HOLT COO 48.0 0.0 X 152263 0 38403 JAMIE SCOTT MANAGER OF FINANCE 43.0 0.0 X 115952 0 34298 KIMBERLY BEHRNES MANAGER OF ENGINEERING 40.0 0.0 X 121895 0 25259 RUSSELL PRITCHETT MAINTENANCE SUPERINTENDENT 40.0 0.0 X 108601 0 33713 DANIEL FRANCO AREA SERVICEMAN 40.0 0.0 X 112928 0 29153 JOHN COLVIN AREA SERVICEMAN 53.0 0.0 X 115474 0 26523 NATHANIEL HARDWICK ENTERPRISE SYSTEMS COORDINATOR 45.0 0.0 X 112488 0 24638 GARY CRAIN BOARD TRUSTEE 8.0 20.0 X 16468 11734 0 STEVE MARAK BOARD TRUSTEE - TREASURER 7.0 0.0 X X 17352 0 0 MATT GOODSON BOARD TRUSTEE 9.0 0.0 X 16852 0 0 JOE SEMTNER BOARD TRUSTEE - VICE PRESIDENT 10.0 0.0 X X 16752 0 0 YATES ADCOCK BOARD TRUSTEE 10.0 0.0 X 16552 0 0 CLAYTON EADS BOARD TRUSTEE 10.0 0.0 X 16544 0 0 ROBERT SCHOENECKE BOARD TRUSTEE - SECRETARY 6.0 0.0 X X 16432 0 0 JP DUVALL BOARD TRUSTEE 4.0 0.0 X 14962 0 0 1210938 11734 262611 8 false true false RIGGS TREE SERVICE INC PO BOX 453225 GROVE OK 74345 TREE TRIMMING 1707584 SMITH AND PICKLE PO BOX 21447 OKLAHOMA CITY OK 73156 BUILDING CONTRACTOR 5841904 GULF COAST BUSINESS CREDIT PO BOX 731152 DALLAS TX 75373 MAKE READY CONSTRUCT 2928974 BENTON TECHNICAL SERVICES INC PO BOX 874654 KANSAS CITY MO 64187 FIBER CONSTRUCTION 3999129 KEA ENERGY LLC 20 RACHAL RD BOYCE LA 71409 LINE SERVICE 699764 9 X 1411887 1411887 SALES OF ELECTRIC ENERGY 221000 71717154 71717154 G&T CAPITAL CREDITS 221000 1540761 1540761 OTHER CAPITAL CREDITS 221000 184874 184874 73442789 539951 3213 536738 0 0 125081 208771 6836825 -6711744 208771 -6502973 -6711744 208771 43565 30000 13565 -13565 -13565 0 0 0 0 0 0 70685 40175 30510 30510 MANAGEMENT FEES FROM CVEC FIBER 237130 361714 361714 All Other Misc Revenue 0 0 0 361714 69270313 73442789 -6346817 762454 0 0 0 2840102 762877 0 3457704 100960 654983 350879 0 169425 52471 0 0 0 2111271 0 232784 531789 0 75733 764439 0 67193 2232442 0 4301475 1700248 COST OF ELECTRIC POWER 51122397 TAXES 1461610 TOOLS & LINE MATERIALS 791293 DUES & SUBSCRIPTIONS 212873 588920 74583868 5703992 305433 4984 212125 0 0 7109550 17451359 0 0 0 0 0 0 1713299 5256908 30652 28238 162053577 56474814 81952681 105578763 0 0 0 0 31205238 31663981 0 0 1927506 13389173 129647902 173885980 7466628 14044076 0 0 0 0 0 0 0 0 0 0 44772278 76947507 0 0 5219059 7639823 57457965 98631406 X 0 0 0 0 72189937 75254574 72189937 75254574 129647902 173885980 X -5313555 8378192 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 109712 109712 9092217 1843481 7248736 135038453 54631333 80407120 17813195 17813195 105578763 ARK ELECTRIC-PATRONAGE CAPITAL 290992 C NRUCFC-PATRONAGE CAPITAL 51346 C CRUCFC-CAP. TERM CERTIFICATES 814662 C NRUCFC-MEMBER CERTIFICATIONS 1000 C WESTERN FARMERS-PATRONAGE CAP 30810372 C NISC-PATRONAGE CAPITAL 191921 C FEDERATED-EQUITY ACCOUNT ALLOC 236341 C NRTC-MEMBERSHIP 15267 C COBANK-MEMBERSHIP & PATRONAGE 277245 C CENERGY INVESTMENT 100 C CVEC FIBER SUB -1025265 C 31663981 NONUTILITY PROPERTY 949157 DEFERRED DEBITS 1374066 REGULATORY ASSET 11065950 13389173 0 POST RETIREMENT BENEFIT OBLIGATION 2298671 CONSUMER DEPOSITS 5341152 7639823 74591865 6836825 6836825 67755040 1515273 1515273 69270313 71751763 7997 7997 71743766 2840102 2840102 74583868 FORM 990, SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NO IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. FORM 990, SCHEDULE D, PART XI, LINE 2D BOOK TO TAX DEPRECIATION DIFFERENCE 6,828,828 UBI EXPENSE 7,997 ----------------------------------------------------------- TOTAL $6,836,825 FORM 990 SCHEDULE D, PART XI LINE 4B UBI INTEREST INCOME 3,213 UBI FIBER LEASE INCOME 125,081 SHARED EMPLOYEE REVENUE 361,714 INCOME FROM SUBSIDIARY 1,025,265 ----------------------------------------------- TOTAL $1,515,273 FORM 990, SCHEDULE D, PART XII, LINE 2D UBI EXPENSES $7,997 FORM 990, SCHEDULE D, PART XII, LINE 4B PATRONAGE CAPITAL ALLOCATED $2,840,102 X X X X false false false GARY HIGHLEY CEO 235539 0 750 0 3134 0 33632 0 16992 0 290047 0 0 0 JOSHUA HOLT COO 149225 0 750 0 2288 0 21411 0 16992 0 190666 0 0 0 JAMIE SCOTT MANAGER OF FINANCE 108782 0 750 0 6420 0 17306 0 16992 0 150250 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 ELECTRIC UTILITY IS MEMBER OWNED. TRUSTEES ARE ELECTED BY THE MEMBERSHIP TO SERVE THREE YEAR TERMS. ANY MEMBER MAY FILE TO STAND FOR ELECTION BY FILING A NOTICE OF INTENT TO STAND FOR ELECTION DURING THE PUBLISHED FILING PERIOD. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS VOTE WITHIN THEIR DISTRICT TO APPOINT THE BOARD MEMBER TO REPRESENT THEM. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWS ARE SUBJECT TO APPROVAL BY THE MEMBERS. MEMBERS MAY ALSO PETITION FOR REMOVAL, FOR JUST CAUSE, OF TRUSTEES OR OFFICERS. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGER OF FINANCE, CEO, AND THE BOARD OF TRUSTEES REVIEW THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED REGULARLY, AND WRITTEN SURVEYS ARE COLLECTED FROM EACH TRUSTEE ANNUALLY. AFTER DISCLOSURE OF ANY CONFLICTS, THE CEO MAY CONSULT WITH THE ATTORNEY OF CVEC AND/OR SUBMIT THE ISSUE TO THE BOARD OF TRUSTEES. THE CEO, IF APPROPRIATE, MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR AGREEMENT. AFTER EXERCISING DUE DILIGENCE, THE CEO SHALL DETERMINE WHETHER CVEC CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST AND IF AN ALTERNATIVE CANNOT BE FOUND WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF CVEC. FORM 990, PART VI, SECTION B, LINE 15A & 15B COMPENSATION SURVEYS BASED ON FIGURES FROM ALL ELECTRIC DISTRIBUTION COOPERATIVE HEADQUARTERS IN OKLAHOMA ARE USED TO DETERMINE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES, AS WELL AS A SALARY STUDY FROM AN INDEPENDENT CONSULTANT. THE INDEPENDENT CONSULTANT LAST STUDY WAS CONDUCTED IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VIII, LINE 6A PERSONAL PROPERTY RENTAL REVENUES EXCLUDED FROM UNRELATED BUSINESS INCOME ARE RELATED TO POLE RENTAL INCOME. FORM 990, PART XI, LINE 9 CHANGE IN FUNDED STATUS OF POST RETIREMENT BENEFIT PLAN (43,063) PATRONAGE CAPITAL ASSIGNABLE 2,840,102 CHANGE IN MEMBERSHIPS 1,755 CHANGE IN DONATED CAPITAL 5,712 GAIN ON RETIRED CAPITAL CREDITS 260,131 UBI INTEREST INCOME (3,213) UBI FIBER LEASE INCOME (125,081) BOOK TO TAX DEPRECIATION EXPENSE 6,828,828 EQUITY IN EARNINGS OF SUBSIDIARY (1,025,265) SHARED EMPLOYEE REVENUE (361,714) ------------ TOTAL 8,378,192 CVEC FOUNDATION INC PO BOX 751 SEMINOLE OK 74818 731553974 GRANTS OK 501(C)(3) 10 CVEC true CVEC FIBER LLC 11277 N HWY 99 SEMINOLE OK 74868 853139492 FIBER OK CVEC C CORPORATION 414734 1368622 1.00000 true true false false true false false false false false true false false false false false false false true false CVEC FIBER LLC A 490008 FMV