2020-11-12T14:36:39-07:00 2019-12-31 990 2019-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2020-11-10 208.87.234.180 2019 2022-01-07 14:23:13Z NOVEC Stanley C Feuerberg PO Box 2710 Manassas VA 201080875 574780360 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 173,448 meters/customers. 7 7 323 0 0 0 0 0 534439697 564073955 4416460 6264998 -93484 4441407 538762673 574780360 0 0 4564565 4697964 23674120 25927969 0 0 0 492033394 518676729 520272079 549302662 18490594 25477698 930331339 990050799 207668502 233802417 722662837 756248382 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (173,448 Meters/Customers) 0 0 549302662 564073955 Provide affordable service to its 173,448 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $4.7M in patronage capital; connected 3,377 meters and completed $38M in net new construction during the fiscal year. 0 0 0 549302662 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 56 0 1 323 1 0 0 0 0 0 564073955 804765 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 X 660017 0 94700 Rollins Wilbur Senior Vice President - Finance 40 X 289821 0 82388 Bisson Robert Vice President - Electric System Development 40 X 247944 0 77343 Toulme Patrick Vice President & Corporate Counsel 40 X 239481 0 78643 Dailey Michael Vice President - Energy Bus Development 40 X 237737 0 76250 Scleicher David Vice President - Admin Substations Telecom 40 X 261215 0 17004 Rainey John Dir - Origination and Plant Ops 40 X 194385 0 66256 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 40 X 187127 0 62759 Spinner Howard Manager - Regulatory Affairs 40 X 168344 0 61493 Samuel T Morgan Service Technician 78 X 198118 0 31289 Swingle Daniel Vice President - Electric System Operations 40 X 154549 0 59495 Hollcroft Mason Manager - System Construction 40 X 149805 0 54058 George A Dodson Lead Line Technician 62 X 155638 0 42822 Dan A Hampton Lead Line Technician 65 X 159511 0 34815 Krovi Sai S Program and PMO Manager 40 X 155344 0 31442 Lisa Hooker Vice President - Public Relations 40 X 147548 0 19460 Gilbride Cynthia Treasurer 1.63 X 38400 0 5557 Chesley James Vice Chairperson 1.48 X 38400 0 5491 Ragan Michael E Secretary 1.79 X 34800 0 5803 House Wade C Chairman 1.75 X 34800 0 5444 Albrite Jr Cleil W Director 0.99 X 36000 0 360 George Brent Director 1.33 X 36000 0 360 3824984 0 913232 107 0 1 0 C W Wright Construction Company 11500 Ironbridge Road Chester VA 238318280 Substation Construction 6501929 Leo Construction Company PO Box 966 Sterling VA 201670966 Underground Utility Construction 6056492 NEW RIVER ELECTRICAL CORP PO BOX 70 CLOVERDALE VA 24077 Construction 6202469 LEWIS TREE SERVICE INC PO BOX 731897 Dallas TX 753731897 Construction/ROW 3921690 LOCKHEED MARTIN 1670 N NEWPORT RD Colorado Springs CO 809162725 IT Services 3899247 13 0 Electricity Sales 221122 559377134 559377134 0 0 Electric Service 221122 3615202 3615202 0 0 1081619 1081619 0 0 564073955 6264998 6264998 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 804766 804766 0 0 Patronage Capital from Associate Org 900099 1380576 1380576 0 0 Other Cap Crs & Patronage Dividends 900099 488100 488100 0 0 1767965 1767965 0 0 4441407 574780360 574780360 0 0 4697964 2201721 17145310 3386787 1370754 1823397 5251168 799382 215882 45575 1489022 844255 9487208 2697272 0 302434 105593 0 61950 2355937 -358183 26843715 1395205 Purchased Power Cost 446466707 Transmission & Distribution 8577758 Customer Services & Sales 3254774 Franchise and Regulatory Cost 8292219 548856 549302662 0 0 0 4842067 17108382 11995492 24166807 0 0 42943801 47337280 0 0 0 82775618 80690684 13875993 13279952 15251574 3921640 962072624 332883673 591307983 629188951 0 0 52958466 59071611 7065220 7034817 0 0 107315125 108250675 930331339 990050799 31814476 34683302 0 0 1190235 943488 0 0 0 0 0 0 129778225 121526111 0 0 44885566 76649516 207668502 233802417 X 767059 735544 28971301 37110661 692924477 718402177 722662837 756248382 930331339 990050799 X 25477698 3387747 0 0 0 4720100 X 0 1 X 1 0 18775 0 18775 0 18775 1 Friends of David Bulova PO Box 106 Fairfax Station VA 22039 550893686 750 0 Friends of Tim Hugo PO Box 893 Centreville VA 20122 510420767 1500 0 Petersen for State Senate PO Box 1066 Fairfax VA 22038 760846380 1000 0 Reid for Delegate PO Box 4132 Ashburn VA 20148 814724873 750 0 Keam for Delegate PO Box 1134 Vienna VA 22183 263824389 750 0 Ruff for Senate PO Box 332 Clarksville VA 23927 010633222 1000 0 Friends of Rich Anderson PO Box 7926 Woodbridge VA 22195 264374961 525 0 George Barker for Senate PO Box 10527 Alexandria VA 22310 870782633 1000 0 Friends of Jennifer Boysko PO Box 247 Herndon VA 20172 832310503 500 0 Holtzman Vogel for Senate 45 North Hill Drive Ste 100 Warrenton VA 20186 202104199 1000 0 Friends of James Edmunds 0 a VA 20109 300578606 750 0 Hala Ayala for Delegate PO Box 7434 Woodbridge VA 22195 000000000 500 0 John Bell for Senate PO Box 223822 Chantilly VA 20153 000000000 500 0 Geary Higgins for Senate 0 a VA 20109 000000000 500 0 Jeremy McPike for Senate 0 a VA 20109 000000000 1000 0 Karrie Delaney for Delegate 0 a VA 20109 000000000 750 0 Charniele Herring for Delegate 0 a VA 20109 000000000 750 0 Mike Webert for Delegate PO Box 631 Marshall VA 20116 452444475 750 0 Luke Torian for Delegate 4222 Fortuna Plaza Suite 659 Dumfries VA 22025 264035793 1000 0 Eileen Filler-Corn for Delegate 0 a VA 20109 000000000 1500 0 Bill Drennan for Delegate 0 a VA 20109 000000000 250 0 Suhas Subrananyam for Delegate 0 a VA 20109 000000000 250 0 Friends of Ian Lovejoy 0 a VA 20109 000000000 250 0 The National Right to Work Committee 8001 Braddock Road Ste 500 Springfield VA 22160 510147724 750 0 Friends of Pat Herrity PO Box 2863 Springfield VA 22152 208668416 500 0 Schedule C, Part I-A, Line 1 Provided campaign contributions to support local and state candidates. 32188079 0 32188079 34062987 0 12550332 21512655 645881 0 574091 71790 857561460 0 315549486 542011974 37614217 0 4209764 33404453 629188951 59071611 F 59071611 Investment in Associated Organizations 53240972 Collateral 6455588 457 Deferred Compensation 5326524 Accrued Unbilled Revenue 25098713 Other current assets 18128878 108250675 0 Consumer Deposits 9606134 Provision for Benefits 4374366 Post Retirement Funding 101474 Other Misc Liabilities 4230157 Over/Under PCA Recovery 12378417 CIAC Advanced Deposits 45958968 76649516 X 574780360 0 0 0 0 0 574780360 0 0 0 574780360 544604698 0 0 0 0 0 544604698 0 4697964 4697964 549302662 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 $4,697,964 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 644893 0 0 0 15124 0 6750 0 87950 0 754717 0 Rollins Wilbur Senior Vice President - Finance 287119 0 0 0 2702 0 8404 0 73984 0 372209 0 Dailey Michael Vice President - Energy Bus Development 211227 0 23500 0 3010 0 6236 0 70014 0 313987 0 Toulme Patrick Vice President & Corporate Counsel 213433 0 23000 0 3048 0 7219 0 71424 0 318124 0 Bisson Robert Vice President - Electric System Development 223366 0 18500 0 6078 0 6500 0 70843 0 325287 0 Lisa Hooker Vice President - Public Relations 133969 0 12500 0 1079 0 7866 0 11594 0 167008 0 Scleicher David Vice President - Admin Substations Telecom 239707 0 17000 0 4507 0 12500 0 4504 0 278218 0 Swingle Daniel Vice President - Electric System Operations 140683 0 12750 0 1116 0 4791 0 54704 0 214044 0 Rainey John Dir - Origination and Plant Ops 163200 0 26776 0 4409 0 5599 0 60657 0 260641 0 Spinner Howard Manager - Regulatory Affairs 145565 0 20767 0 2011 0 5178 0 56315 0 229836 0 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 160334 0 25958 0 835 0 5746 0 57013 0 249886 0 Hollcroft Mason Manager - System Construction 127805 0 20275 0 1725 0 4599 0 49459 0 203863 0 Krovi Sai S Program and PMO Manager 134893 0 19800 0 651 0 7183 0 24259 0 186786 0 Dan A Hampton Lead Line Technician 156803 0 2586 0 122 0 4813 0 30002 0 194326 0 George A Dodson Lead Line Technician 152660 0 2586 0 392 0 260 0 42562 0 198460 0 Samuel T Morgan Service Technician 195631 0 2324 0 163 0 5939 0 25350 0 229407 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: ($31,515); Assignable Patronage: ($1,440); OCI & Reacquired Donations: $4,753,054. 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 2504656 Interest rate is the applied rate by the bank for construction loans. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass p 157528 Labor is reimbursed at cost plus a fringe benefits fee. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 251056 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc n 5002 Rent is determined by rental market analysis. NOVEC Solutions Inc o 89526 Labor is reimbursed at cost plus fringe benefit fee. NOVEC Solutions Inc q 534010 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc p 358183 Internet delivery fee is by contracted rate. NOVEC Energy Solutions Inc j 14891 Rent is determined by rental market analysis. NOVEC Energy Solutions Inc o 54956 Labor cost is reimbursed at cost plus fringe benefit fee. NOVEC Energy Solutions Inc q 208330 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.