2021-11-05T16:20:25-07:00 2020-12-31 990 2020-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2021-11-08 1 11 0 AAL2 2020 2022-09-23 18:48:47Z NOVEC Stanley C Feuerberg PO Box 2710 Manassas VA 201080875 525186117 0 X www.novec.com X 1983 VA Our mission is to exceed the expectations of our customers and to be the preferred energy provider in all markets served. NOVEC's activity is the Distribution of Electricity; serving approximately 175,598 meters/customers. 7 7 362 0 0 0 0 0 564073955 516670570 6264998 6373299 4441407 2142248 574780360 525186117 0 0 4697964 555544 25927969 25351377 0 0 0 518676729 476879968 549302662 502786889 25477698 22399228 990050799 1023743827 233802417 242691462 756248382 781052365 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (175,598 Meters/Customers) 0 0 502786889 516670570 Provide affordable service to its 175,598 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $.5M in patronage capital; connected 2,201 meters and completed $45M in net new construction during the fiscal year. 0 0 0 502786889 0 0 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 60 0 1 362 1 0 0 0 0 0 516670570 1579977 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X NOVEC Northern Virginia Electric Cooperative 7033350500 PO Box 2710 Manassas VA 201080875 Feuerberg Stan President/CEO 40 0 X 1804394 0 94638 Rollins Wilbur Senior Vice President - Finance 40 0 X 300071 0 84860 Bisson Robert Vice President - Electric System Development 40 0 X 263756 0 79888 Toulme Patrick Vice President & Corporate Counsel 40 0 X 251391 0 81137 Dailey Michael Vice President - Energy Bus Development 40 0 X 251229 0 78516 Scleicher David Vice President - Admin Substations Telecom 40 0 X 279400 0 17472 Rainey John Dir - Origination and Plant Ops 40 0 X 199442 0 68057 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 40 0 X 199555 0 64318 Spinner Howard Manager - Regulatory Affairs 40 0 X 172764 0 62863 Swingle Daniel Vice President - Electric System Operations 40 0 X 167589 0 61637 Hollcroft Mason Manager - System Construction 40 0 X 154422 0 55536 Hampton Dan A Lead Line Technician 65 0 X 159217 0 38166 Dodson George A Lead Line Technician 62 0 X 152993 0 43432 Krovi Sai S Program and PMO Manager 40 0 X 160627 0 33849 Whyte Kevin M Director System Engineering 40 0 X 159483 0 31285 Hooker Lisa Vice President - Public Relations 40 0 X 160652 0 21163 Gilbride Cynthia Treasurer 1.25 0 X 39882 0 5574 Ragan Michael E Secretary 1.19 0 X 36604 0 5815 Chesley James Vice Chairperson 1.37 0 X 36158 0 5504 House Wade C Chairman 1.52 0 X 36158 0 5455 George Brent Director 1.13 0 X 36540 0 4377 Albrite Jr Cleil W Director 1.02 0 X 36116 0 4377 Bruno Mark Director 0.73 0 X 5512 0 0 5063955 0 947919 113 0 1 0 Leo Construction Company PO Box 966 Sterling VA 201670966 Underground Utility Construction 8781571 C W Wright Construction Company 11500 Ironbridge Road Chester VA 238318280 Substation Construction 7913731 NEW RIVER ELECTRICAL CORP PO BOX 70 CLOVERDALE VA 24077 Construction 4438836 LEWIS TREE SERVICE INC PO BOX 731897 Dallas TX 753731897 Construction/ROW 4102368 LEE ELECTRICAL CONSTRUCTION PO Box 55 ABERDEEN NC 28315 Construction 2564352 15 0 Electricity Sales 221122 513686561 513686561 0 0 Electric Service 221122 1904079 1904079 0 0 1079930 1079930 0 0 516670570 6373299 6373299 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 500047 500047 0 0 Patronage Capital from Associate Org 900099 1009847 1009847 0 0 Other Cap Crs & Patronage Dividends 900099 639376 639376 0 0 -7022 -7022 0 0 2142248 525186117 525186117 0 0 555544 3452342 15323889 2308337 2981217 1285592 5025957 537671 223675 72955 1147682 876030 3129342 2932810 0 303959 21182 0 35031 1887685 244037 27859282 1380818 Purchased Power Cost 398934694 Transmission & Distribution 10868054 Customer Services & Sales 5631406 Franchise and Regulatory Cost 8737999 7029699 502786889 0 0 0 17108382 10166969 24166807 40353220 0 0 47337280 38837749 0 0 80690684 78876054 13279952 16950516 3921640 4419860 997582781 346795859 629188951 650786922 0 59071611 62346438 7034817 6888928 0 108250675 114117171 990050799 1023743827 34683302 40230495 0 0 943488 681097 0 0 0 0 0 0 121526111 117011765 0 0 76649516 84768105 233802417 242691462 X 735544 705515 37110661 39545446 718402177 740801404 756248382 781052365 990050799 1023743827 X 22399228 2181682 0 0 0 223073 X 0 1 X 1 0 11750 0 11750 0 11750 1 Marsden for Senate PO Box 10889 Burke VA 22009 271338500 1250 0 George Barker for Senate PO Box 10527 Alexandria VA 22310 870782633 750 0 Eileen Filler-Corn for Delegate PO Box 523082 Springfield VA 22152 271694500 1000 0 Friends of David Bulova PO Box 106 Fairfax Station VA 22039 550893686 500 0 Charniele Herring for Delegate PO Box 11779 Alexandria VA 22312 263228943 750 0 Keam for Delegate PO Box 1134 Vienna VA 22183 263824389 500 0 MCPIKE FOR SENATE PO Box 2819 Woodbridge VA 22195 000000000 500 0 John Bell for State Senate PO Box 4489 Broadlands VA 20147 831655345 750 0 SUROVELL FOR SENATE PO Box 289 Mt Vernon VA 22121 000000000 750 0 Hala Ayala for Delegate PO Box 7434 Woodbridge VA 22195 820917609 500 0 RIP SULLIVAN FOR DELEGATE PO Box 50753 Arlington VA 22205 000000000 500 0 LIONELL SPRUILL FOR SENATE PO Box 5403 Chesapeake VA 23324 541999899 750 0 RICHARD SASLAW FOR SENATE PO Box 1856 Springfield VA 22151 000000000 1000 0 Petersen for State Senate PO Box 1066 Fairfax VA 22038 760846380 1000 0 Luke Torian for Delegate 4222 Fortuna Plaza Suite 659 Dumfries VA 22025 264035793 750 0 Wendy Gooditis for Delegate PO Box 180 Boyce VA 22620 000000000 500 0 Schedule C, Part I-A, Line 1 Provided campaign contributions to support local and state candidates. 32289914 0 32289914 34253281 0 13361684 20891597 645881 0 590880 55001 901883797 0 328184115 573699682 28509908 0 4659180 23850728 650786922 0 62346438 F 62346438 Investment in Associated Organizations 54250689 Collateral 6478999 457 Deferred Compensation 5012921 Accrued Unbilled Revenue 28124109 Other current assets 20250453 114117171 0 Consumer Deposits 10058580 Provision for Benefits 5012920 Post Retirement Funding 0 Other Misc Liabilities 6549284 Over/Under PCA Recovery 2756684 CIAC Advanced Deposits 60390637 84768105 X 525186117 0 0 0 0 0 525186117 0 0 0 525186117 502231345 0 0 0 0 0 502231345 0 555544 555544 502786889 Schedule D, Part X, Line 2 The Cooperative has analyzed filing positions in all of the federal and state jurisdictions where it is required to file income tax returns, including its status as a tax exempt electric cooperative entity. The Cooperative believes its income tax filing positions, including its status as a tax exempt entity will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position. Therefore, no reserves for uncertain tax positions, nor interest and penalties, have been recorded in the accompanying consolidated financial statements. The Cooperative recognizes interest and penalties related to uncertain tax positions as interest expense and penalty expense, respectively, in the Consolidated Statements of Operations and Patronage Capital. Schedule D, Part XII, Line 4b Includes patronage dividends in the amount of $555,544 paid to members that is not recorded as an expense on NOVEC's audited financial statements. Patronage dividends paid are a reduction to Equity on the audited balance sheet. X X X 0 0 0 Feuerberg Stan President/CEO 641398 0 1149475 0 13521 0 8550 0 86088 0 1899032 0 Rollins Wilbur Senior Vice President - Finance 295869 0 0 0 4202 0 8550 0 76310 0 384931 0 Dailey Michael Vice President - Energy Bus Development 219066 0 29000 0 3163 0 7641 0 70875 0 329745 0 Toulme Patrick Vice President & Corporate Counsel 220233 0 28000 0 3158 0 7577 0 73560 0 332528 0 Bisson Robert Vice President - Electric System Development 230366 0 27000 0 6390 0 6500 0 73388 0 343644 0 Scleicher David Vice President - Admin Substations Telecom 246782 0 28000 0 4618 0 13000 0 4472 0 296872 0 Hooker Lisa Vice President - Public Relations 141989 0 17500 0 1163 0 9678 0 11485 0 181815 0 Swingle Daniel Vice President - Electric System Operations 147933 0 18500 0 1156 0 5181 0 56456 0 229226 0 Rainey John Dir - Origination and Plant Ops 167509 0 27402 0 4531 0 6067 0 61990 0 267499 0 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 164775 0 33272 0 1508 0 5970 0 58348 0 263873 0 Spinner Howard Manager - Regulatory Affairs 149681 0 20999 0 2084 0 5308 0 57555 0 235627 0 Krovi Sai S Program and PMO Manager 139185 0 20764 0 678 0 9973 0 23876 0 194476 0 Whyte Kevin M Director System Engineering 138817 0 20432 0 234 0 7446 0 23838 0 190767 0 Hollcroft Mason Manager - System Construction 131910 0 20709 0 1803 0 4736 0 50800 0 209958 0 Dodson George A Lead Line Technician 150501 0 1784 0 708 0 260 0 43173 0 196426 0 Hampton Dan A Lead Line Technician 158212 0 879 0 127 0 4835 0 33330 0 197383 0 Form 990, Part VI, Section A, Line 6 NOVEC is a member owned electric cooperative. Form 990, Part VI, Section A, Line 7a NOVEC's members elect the governing body by vote or proxy at the annual meeting. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Accounting Manager, Vice President of Finance and Board of Directors Audit committee for completeness and accuracy as compared to the audited financial statements. Other Board Members receive a summary for review. Form 990, Part VI, Section B, Line 12c The policy is monitored and enforced through education and awareness at regular employee meetings and inquiries of Directors. Form 990, Part VI, Section B, Line 15 Human Resources is responsible for the compensation packet of top managerial staff. A market analysis is performed by an independent consultant group with benchmarks by industry and geographical data. The CEO approves compensation packets for key employees. The Executive committee of the Board of Directors reviews officers compensation, benefits and contract amendments with recommendations for approval. Form 990, Part VI, Section C, Line 19 All documents are made available upon written request by mail, fax or electronic copy. Form 990, Part XI, Line 9 Change in membership dues: ($30,028); Assignable Patronage: ($825); OCI & Reacquired Donations: $253,928. NOVEC Holdings Inc 10323 Lomond Drive Manassas VA 20109 900719502 Holding Co of consol taxable entities DE Northern Virginia Electric Cooperative C 1 NOVEC Energy Solutions Inc PO Box 2710 Manassas VA 20108 542001851 Retail sale of Natural Gas VA NOVEC Holdings Inc C 1 NOVEC Solutions Inc PO Box 2710 Manassas VA 20108 541830182 Sale of Home Gens, Water Heaters, Surge Protect Warr Plans, Elec Trsf Switches,Fbr Optic Leases VA NOVEC Holdings Inc C 1 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass 1225 Plywood Trail South Boston VA 245926530 611649511 49 Megawatt Biomass generation power plant VA NOVEC Holdings Inc C 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass a-i 2444875 Interest rate is the applied rate by the bank for construction loans. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass o 98173 Labor is reimbursed at cost plus a fringe benefits fee. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 79173 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc n 6432 Rent is determined by rental market analysis. NOVEC Solutions Inc o 77864 Labor is reimbursed at cost plus fringe benefit fee. NOVEC Solutions Inc q 152164 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc p 244037 Internet delivery fee is by contracted rate. NOVEC Energy Solutions Inc j 14778 Rent is determined by rental market analysis. NOVEC Energy Solutions Inc o 60937 Labor cost is reimbursed at cost plus fringe benefit fee. NOVEC Energy Solutions Inc q 142772 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Energy Solutions Inc d 4500000 Limited guaranty of revolving line of credit with an interest agreement based on LIBOR PLUS 1.65%. Additional time was necessary, in order to prepare a complete and accurate return, and allow for review by the Board.