2020-11-13T14:42:53-06:00 2019-12-31 541631262 KEITERSTEPHENSHURSTGARY & SHREAVESPC 4401 DOMINION BLVD GLEN ALLEN VA 23060 990 2019-01-01 540377465 SHENANDOAH VALLEY ELECTRIC COOPERATIVE SHEN 5404342200 180 OAKWOOD DRIVE ROCKINGHAM VA 22801 GREGORY S ROGERS PRESIDENT & CEO 5404342200 2020-11-12 1 JAYME MIKA P00852731 8047470000 184.80.4.98 2020-11-12 13:08:59 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0BE7F1D8473A7EC63939DF9671327E5EC9A23D89 2019 2021-04-22 16:20:28Z GREGORY S ROGERS 180 OAKWOOD DRIVE ROCKINGHAM VA 22801 262165598 0 X WWW.SVEC.COOP X 1936 VA SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF SVEC 10 10 243 0 137809 136809 0 0 247705821 258874898 2535287 2022682 1060781 1103474 251301889 262001054 0 0 13109669 8732890 25025566 27858490 0 0 0 211461655 223893030 249596890 260484410 1704999 1516644 500191255 521612005 320556296 334448565 179634959 187163440 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF SVEC 0 0 260484410 SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO MEMBERS OF SVEC. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS:COST OF POWER: $ 180,537,126DEPRECIATION EXPENSE: $ 19,030,385OTHER SALARIES AND WAGES: $ 21,502,153 260484410 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 65 0 1 243 1 1 1 0 0 0 0 0 0 256118935 5882119 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SHENANDOAH VALLEY ELECTRIC COOPERATIVE 5404342200 180 OAKWOOD DR ROCKINGHAM VA 22801 X BRENT ARBOGAST DIRECTOR 3.20 X 19718 0 0 STEPHEN BURKHOLDER DIRECTOR 4.70 X 19120 0 0 J R DOFFLEMYER DIRECTOR - STARTED 6/19 3.20 X 13500 0 0 DAVID E FERGUSON DIRECTOR - ENDED 6/19 2.80 X 7353 0 0 FRED GARBER DIRECTOR 3.40 X 11602 0 0 C A HELSLEY DIRECTOR - STARTED 6/19 3.20 X 13260 0 0 CHARLES H HUFFMAN DIRECTOR 0.90 X 15600 0 0 ROBBIE F MARCHANT DIRECTOR 7.20 X 21490 0 0 BRIAN PLUM DIRECTOR 3.90 X 20000 0 0 TODD VAN HORN DIRECTOR 7.80 X 23390 0 0 LARRY HOWDYSHELL CHAIR 11.90 X X 27668 0 0 SUZANNE OBENSHAIN VICE CHAIR 6.50 X X 21165 0 0 BILL ORNDOFF SEC/TREAS 6.20 X X 23928 0 0 MICHAEL W HASTINGS PRESIDENT AND CEO 55.00 X 410072 0 126843 THOMAS V BEAMON ASSIST SECRETARY/TREASURER 60.00 X 215686 0 29448 VIVIAN M MICHAEL VP HR 55.00 X 182002 0 97991 WAYNE D HANNAH JR VP IT 60.00 X 192301 0 83435 JONATHAN M AULGUR VP MEMBER SERVICES 50.00 X 169319 0 20920 GREGORY S ROGERS VP ENG OP 55.00 X 217730 0 65829 JASON E BURCH MANAGER OF SYSTEM ENGINEERING 55.00 X 150559 0 27317 1775463 0 451783 58 0 1 0 XYLEM TREE EXPERTS 208 E PLUME STREET SUITE F250 NORFOLK VA 23510 TREE TRIMMING 5467828 DAVIS H ELLIOTT CO PO BOX 37251 BALTIMORE MD 212973251 R/W CONSTRUCTION 2767844 AUGUST UTILITIES LLC PO BOX 8 VERONA VA 244820008 UNDERGROUND LINE INSTALL 1416872 NEW RIVER ELECTRIC PO BOX 70 CLOVERDALE VA 24077 MISC. WORK 1407074 WEED CONTROL 800 CABIN HILL DRIVE GREENSBURG PA 156011689 SPRAYING R/W 1140750 16 SALE AND DIST. OF ELECT. 221000 256118935 256118935 CONTRIB IN AID OF CONST. 221000 2228387 2228387 PATRONAGE ALLOC RECEIVED 221000 527576 527576 258874898 2030103 2030103 1111307 7833 1103474 1103474 137809 965665 149290 156711 -7421 -7421 -7421 262001054 258874898 137809 2988347 X 8732890 1019841 21502153 3586325 1750171 441176 2901509 112547 10332308 19030385 COST OF POWER 180537126 DISTRIBUTION MAINTENANC 9339508 DISTRIBUTION OPERATIONS 4526538 CONSUMER ACCOUNTS 2343862 -5671929 260484410 17369495 1706088 12891 23367576 29418319 28860471 7896059 7120033 3482534 5100849 593352814 197778508 384844159 395574306 56348709 59023130 819089 859552 500191255 521612005 18793068 18593362 281204591 287199786 20558637 28655417 320556296 334448565 X 0 0 0 0 179634959 187163440 179634959 187163440 500191255 521612005 X 1516644 6011837 X 0 1 X 1 0 0 1 1 224965 224965 0 PART II-B, LINE 1: MEETING WITH OR CALLING GOVERNMENT OFFICIALS OR LEGISLATORS. 593352814 197778508 395574306 395574306 PATRONAGE CAPTIAL ALLOCATIONS 56907091 C CAPITAL TERM CERTIFICATES 2077698 C BUILDING 36320 C MEMBERSHIP FEES 2021 C 59023130 CONSUMER DEPOSITS 6064526 OTHER CURRENT LIABILITIES 1941693 WHOLESALE POWER COST ADJUSTMENT 4811680 LINE OF CREDIT 15500000 ADVANCE POLE RENTALS 251204 CONSUMER ADVANCES 86314 28655417 X 262521113 2748446 2748446 259772667 2228387 2228387 262001054 251759357 7833 7833 251751524 8732886 8732886 260484410 PART X, LINE 2: THE COOPERATIVE HAS BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAXATION UNDER INTERNAL REVENUE SERVICE CODE SECTION 501(C)(12). THE COOPERATIVE EVALUATES THE FILING POSITIONS IN ALL FEDERAL AND STATE JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURN, INCLUDING ITS STATUS AS A TAX-EXEMPT ELECTRIC COOPERATIVE ENTITY. THE COOPERATIVE BELIEVES ITS TREATMENT AS A TAX-EXEMPT UTILITIY WILL BE SUSTAINED AND DOES NOT ANTICIPATE ANY ADJUSTMENT THAT WILL RESULT IN A MATERIAL CHANGE TO ITS FINANCIAL POSITION. THE COOPERATIVE IS NOT CURRENTLY UNDER AUDIT BY ANY TAX JURISDICTION. PART XI, LINE 2D - OTHER ADJUSTMENTS: CASH PATRONAGE RECEIVED 2,734,429. UNREALIZED GAIN ON 457 PLAN 6,184. TOWER EXPENSES NETTED WITH REVENUE 7,833. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION IN AID OF CONSTRUCTION 2,228,387. PART XII, LINE 2D - OTHER ADJUSTMENTS: TOWER EXPENSES NETTED WITH REVENUE 7,833. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CREDITED TO MEMBER ACCOUNTS 8,732,886. X 1 1 X X X X X 0 0 0 MICHAEL W HASTINGS PRESIDENT AND CEO 380672 0 29400 0 0 0 107385 0 19458 0 536915 0 0 0 THOMAS V BEAMON ASSIST SECRETARY/TREASURER 202896 0 12790 0 0 0 28290 0 1158 0 245134 0 0 0 VIVIAN M MICHAEL VP HR 171225 0 10777 0 0 0 81993 0 15998 0 279993 0 0 0 WAYNE D HANNAH JR VP IT 180625 0 11676 0 0 0 69378 0 14057 0 275736 0 0 0 JONATHAN M AULGUR VP MEMBER SERVICES 159798 0 9521 0 0 0 20064 0 856 0 190239 0 0 0 GREGORY S ROGERS VP ENG OP 204247 0 13483 0 0 0 53080 0 12749 0 283559 0 0 0 JASON E BURCH MANAGER OF SYSTEM ENGINEERING 139559 0 11000 0 0 0 16620 0 10697 0 177876 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 SHENANDOAH VALLEY ELECTRIC COOPERATIVE IS AN ELECTRIC MEMBERSHIP COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF SVEC. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BOARD ARE ELECTED BY THE MEMBERSHIP OF THE COOPERATIVE THROUGH DEMOCRATICALLY CONTESTED ELECTIONS. THE BOARD HAS REGULAR MONTHLY MEETINGS AND AN ANNUAL MEETING THAT IS OPEN TO THE ENTIRE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS REQUIRED BY STATE LAW AND THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT AND CEO OR DESIGNEE WILL REVIEW THE 990 WITH THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE'S LEGAL COUNSEL ANNUALLY REVIEWS CONFLICT OF INTEREST COMPLIANCE AND ENFORCEMENT WITH THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: THE GOVERNING BOARD'S COMPENSATION AND BENEFITS COMMITTEE DOES AN ANNUAL REVIEW OF THE CEO'S COMPENSATION AND BENEFITS. THIS IS DONE AFTER A THIRD PARTY REVIEW AND RECOMMENDATION. LINE 15B: THE GOVERNING BOARD'S COMPENSATION AND BENEFITS COMMITTEE DOES AN ANNUAL REVIEW OF OFFICERS AND KEY EMPLOYEES' COMPENSATION AND BENEFITS. THIS IS DONE AFTER A THIRD PARTY REVIEW OF THE OVERALL COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES, FORM 990 AND FINANCIAL STATEMENTS ARE ALWAYS AVAILABLE UPON REQUEST. BYLAWS, RATES AND TERMS ARE DISCLOSED ON THE COOPERATIVE'S WEBSITE. FINANCIAL INFORMAITON IS PRESENTED TO THE MEMBERSHIP EACH YEAR AT THE ANNUAL MEETING. THIS INFORMAITON IS ALSO PUBLISHED IN THE COOPERATIVE'S MAGAZINE COOPERATIVE LIVING WITH LINKS AVAILABLE ON THE WEBSITE. FORM 990, PART VII - ADDITIONAL INFORMATION: THE COOPERATIVE PARTICIPATED IN THE NRECA GROUP DEFINED PENSION PLAN. AS PART OF THIS PLAN, PARTICIPANTS WERE REQUIRED TO RECOGNIZE THE ACTUARIAL INCREASE IN THE VALUE OF THEIR ACCOUNT ON FORM 990. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN WAS THE SAME FOR ALL INDIVIDUALS IN THE PLAN. THE CHANGE IN THE ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIED WITH AGE. IN OTHER WORDS, THE OLDER A PARTICIPANT WAS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE WITH ALL OTHER THINGS BEING EQUAL. THE RS PLAN IS NOW FROZEN. FORM 990, PART IX, LINE 4: PATRONAGE DIVIDENDS ARE PAID TO MEMBERS' ACCOUNTS IN ACCORDANCE WITH THE PRE-EXISTING OBLIGATION IN THE COOPERATIVE'S BYLAWS. THE COOPERATIVE IS OBLIGATED TO PAY BY CREDITS TO A CAPITAL ACCOUNT FOR EACH PATRON ALL SUCH AMOUNTS IN EXCESS OF OPERATING COSTS AND EXPENSES. IRS INSTRUCTIONS FOR LINE 4 CHANGED IN 2011 TO INCLUDE PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS. ACCORDINGLY, THESE AMOUNTS ARE INCLUDED IN LINE 4 OF PART IX. FORM 990, PART IX, LINE 17: REPRESENTS ALL TRANSPORTATION EXPENSES INCLUDING MILEAGE, GAS, AND THE MAINTENANCE COSTS OF ALL VEHICLES OWNED BY THE COOPERATIVE. FORM 990, PART XI, LINE 9: NET INCREASE IN MEMBERSHIPS 3,335. CHANGE IN DONATED CAPITAL 172,690. CASH PATRONAGE RECEIVED 2,734,429. PATRONAGE CAPITAL CREDITED TO MEMBER ACCOUNTS 8,732,886. RETIREMENT OF CAPITAL CREDITS -3,409,300. CONTRIBUTIONS IN AID OF CONSTRUCTION -2,228,387. UNREALIZED GAIN ON 457F PLAN 6,184.