2019-05-30T12:02:06-05:00 2018-12-31 161117932 BUFFAMANTE WHIPPLE BUTTAFARO PC 201 WEST THIRD STREET JAMESTOWN NY 14701 990 2018-01-01 231179011 VALLEY RURAL ELECTRIC COOPERATIVE INC ANCIENT AND HONORABLE WORKERS VALL 8146432650 PO BOX 477 HUNTINGDON PA 166520477 RICH BAUER PRESIDENT & CEO 8146432650 2019-05-30 1 JAMES C ALEXANDER IV CPA P01384001 7166645104 72.45.244.226 2019-05-30 13:00:41 ED P 0F8E2851FD416ACFB00AA7630511EF29DE290C73 144B106FAA225AD05E01E1A70B93B16EB1BDB105 2018 2019-02-21 02:37:17Z RICH BAUER PO BOX 477 HUNTINGDON PA 166520477 37683281 0 X WWW.VALLEYREC.COM X 1938 PA DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS 9 9 73 0 0 0 0 0 0 0 60971 52243 17834480 19510544 17895451 19562787 32000 30000 203839 897050 598843 638666 0 0 0 15280079 16526943 16114761 18092659 1780690 1470128 90239518 91931510 49832588 50961749 40406930 40969761 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 0 0 18092659 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 18092659 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 110 0 1 73 1 0 0 0 0 0 0 0 36495295 503297 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X PAMELA DEVORE 8146432650 PO BOX 477 HUNTINGDON PA 166520477 LEROY BARNES DIRECTOR 3.50 X 9600 0 0 RANDALL HUNTSMAN DIRECTOR 3.90 X 12000 0 0 GREG HENRY DIRECTOR 3.00 X 10200 0 0 LINDA MCMATH DIRECTOR 4.50 X 11400 0 0 JOANNE WHITSEL DIRECTOR 4.40 X 10600 0 0 JAMES STAUFFER CHAIRMAN 3.70 X X 10000 0 0 KEVIN STATES VICE CHAIRMAN 3.00 X X 9200 0 0 CINDY BIGELOW SECRETARY 3.60 X X 11400 0 0 ROBERT HOLMES TREASURER 3.80 X X 10200 0 0 PAM DEVORE MANAGER OF HR AND FINANCIA 40.00 X 137910 0 50916 RICH BAUER CEO/PRESIDENT 40.00 X 270433 0 84807 LUANNE ECKENRODE FORMER VP CONSUMER SVCS 40.00 X 245975 0 56197 TODD ROSS MANAGER OF OPERATIONS 40.00 X 131398 0 49339 BENJAMIN GORMAN MANAGER OF BUSINESS ADMIN 40.00 X 130652 0 50286 MARK BOOHER DISTRICT MANAGER 40.00 X 114371 0 47789 MICHAEL WILLIAMS CREW LEADER 40.00 X 122736 0 43623 1248075 0 382957 16 0 1 0 B&L TREE SERVICE 924 SIDES ROAD MANNS CHOICE PA 15550 RIGHT OF WAY MAINTENANCE 990158 PENN LINE SERVICES INC PO BOX 280 INDIANA PA 15701 RIGHT OF WAY MAINTENANCE 888970 OSMOSE UTILITY SERVICES PO BOX 8000 BUFFALO NY 14267 POLE INSPECTIONS 169034 MULTICOMM INC 201 WAYNE ST HOLLIDAYSBURG PA 16648 TELECOMMUNICATIONS 108933 4 52243 52243 38906 8145 30761 30761 36960494 18112349 18848145 18848145 PAT CAP FROM ASSOC ORGS 221000 627988 627988 OTHER INCOME 221000 3650 3650 631638 19562787 18848145 0 714642 30000 897050 638666 1879888 4012746 DISTRIBUTION MAINTENANC 4004457 ADMINISTRATION AND GEN 3659777 DISTRIBUTION OPERATIONS 1650911 CONSUMER ACCOUNTS 846071 473093 18092659 204135 635306 3517022 3209618 4302 409392 440926 3693112 3508882 115401487 41485813 72447929 73915674 9963626 10221104 90239518 91931510 4520315 4680589 462745 2195913 43312030 41831652 1537498 2253595 49832588 50961749 X 0 0 10571438 12133248 29835492 28836513 40406930 40969761 90239518 91931510 X 1470128 -907297 X X 0 1 X 1 0 471889 471889 114678827 41485813 73193014 250771 250771 73915674 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 10160321 C TEMPORARY INVESTMENT - COMMERCIAL PAPER 60783 C 10221104 ACCUMULATED POST RETIREMENT BENEFIT OBLIGATION 2253595 2253595 X 37644375 18112349 18112349 19532026 30761 30761 19562787 35277197 18112349 18112349 17164848 927811 927811 18092659 PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM TAXES ON INCOME PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. CONSEQUENTLY, THE FINANCIAL STATEMENTS REFLECT NO PROVISION FOR TAXES ON INCOME. INCOME TAX RETURNS THAT REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES INCLUDE 2015 AND LATER YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: POWER COST 18,112,349. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHARITY GOLF TOURN. PROCEEDS PRIOR TO DISTRIBUTION TO DESIGNATED FAMILIES 30,761. PART XII, LINE 2D - OTHER ADJUSTMENTS: POWER COST 18,112,349. PART XII, LINE 4B - OTHER ADJUSTMENTS: CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS 897,050. CHARITY GOLF TOURN. PROCEEDS PRIOR TO DISTRIBUTION TO DESIGNATED FAMILIES 30,761. PART XII, LINE 4B THE IRS REQUIRES THE ALLOCATION OF CURRENT YEAR MARGINS TO BE REPORTED ON THE STATEMENT OF FUNCTIONAL EXPENSES LINE 4 AS BENEFITS PAID TO OR FOR MEMBERS. UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ALLOCATIONS OF CAPITAL CREDITS ARE NOT SHOWN AS EXPENSES ON THE COOPERATIVE'S STATEMENT OF ACTIVITIES BUT RATHER ARE ALLOCATED TO MEMBERS THROUGH EQUITY. THEREFORE, THE RECONCILIATION ABOVE IS NECESSARY TO SHOW THE DIFFERENCES BETWEEN THE IRS FORM 990 AND THE AUDITED FINANCIAL STATEMENTS. X X X CHARITY GOLF TOURNAMENT 38906 38906 7051 1094 38906 38906 7051 1094 8145 30761 SCHEDULE G, PART II EVERY YEAR, VALLEY RURAL ELECTRIC COOPERATIVE, INC. HAS A CHARITY GOLF TOURNAMENT TO HELP FAMILIES WITH SEVERE HEALTH CONDITIONS. THE NET PROCEEDS FROM THE TOURNAMENT WERE PROVIDED TO TWO FAMILIES TO HELP WITH MEDICAL BILLS AND ANY OTHER NEEDS. SEE SCHEDULE I FOR FURTHER INFORMATION. 0 ASSISTANCE TO FAMILIES WITH SEVERE HEALTH CONDITIONS. 2 30000 PART I, LINE 2: EVERY YEAR VALLEY RURAL ELECTRIC COOPERATIVE, INC. HAS A CHARITY GOLF TOURNAMENT TO HELP FAMILIES WITH SEVERE HEALTH CONDITIONS. OUR HEALTH AND WELLNESS COMMITTEE ACCEPTS NOMINATIONS FOR FAMILIES IN NEED AND IN JANUARY THE COMMITTEE HOLDS A MEETING TO REVIEW THE NOMINATIONS AND SELECTS, THROUGH A VOTING PROCESS, THE FAMILIES THAT WILL BENEFIT FROM THE TOURNAMENT. SELECTIONS ARE BASED ON NEED AND SEVERITY OF CONDITION. USUALLY TWO FAMILIES ARE SELECTED. PROCEEDS, LESS EXPENSES, GOES DIRECTLY TO THE FAMILIES TO HELP WITH MEDICAL BILLS AND ANY OTHER NEEDS. FORM 990, SCHEDULE I, PAGE 2, PART III THE MEMBERS OF THE COMMITTEE ARE INDEPENDENT OF THE FAMILIES UNDER CONSIDERATION FOR THE GRANTS. X X 0 0 0 PAM DEVORE MANAGER OF HR AND FINANCIA 125960 0 11950 0 0 0 30113 0 20803 0 188826 0 0 0 RICH BAUER CEO/PRESIDENT 240288 0 15950 0 14195 0 60040 0 24767 0 355240 0 0 0 LUANNE ECKENRODE FORMER VP CONSUMER SVCS 185927 0 950 0 59098 0 33693 0 22504 0 302172 0 0 0 TODD ROSS MANAGER OF OPERATIONS 121448 0 9950 0 0 0 29677 0 19662 0 180737 0 0 0 BENJAMIN GORMAN MANAGER OF BUSINESS ADMIN 120702 0 9950 0 0 0 29487 0 20799 0 180938 0 0 0 MARK BOOHER DISTRICT MANAGER 108218 0 950 0 5203 0 26622 0 21167 0 162160 0 0 0 MICHAEL WILLIAMS CREW LEADER 120146 0 950 0 1640 0 20915 0 22708 0 166359 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - MEMBERS OF RURAL ELECTRIC COOPERATIVE ARE CONSUMERS OF ELECTRICITY FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - GOVERNING BODY IS ELECTED BY MEMBERS BY BALLOT VOTE FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - A DECISION BY THE GOVERNING BOARD TO DISSOLVE OR DIVERT SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTY AND/OR ASSETS REQUIRES THE AUTHORIZATION BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE. AS STATED IN THE BY-LAWS, MEMBERS CAN ALSO REMOVE A BOARD MEMBER BY MAJORITY VOTE, SUBJECT TO A QUORUM BEING PRESENT. FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - FORM 990 PROVIDED TO BOARD MEMBERS VIA ELECTRONIC OR PAPER FORMAT BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH DIRECTOR, OFFICER AND KEY EMPLOYEE SHALL COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. ANNUALLY, IT SHALL BE THE RESPONSIBILITY OF THE BYLAW AND POLICY COMMITTEE, WITH ASSISTANCE FROM THE COOPERATIVE ATTORNEY, TO REVIEW ALL FORMS AND REPORT ANY CONFLICTS/POTENTIAL CONFLICTS TO THE BOARD OF DIRECTORS. IT SHALL BE THE RESPONSIBILITY OF THE BOARD OF DIRECTORS TO DETERMINE WHAT, IF ANY, ACTION IS REQUIRED AS A RESULT OF A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 AN OUTSIDE CONSULTANT FROM NRECA PROVIDES THE BENCHMARKS FOR THE DIFFERENT TIERS OF EMPLOYEES. THESE FIGURES ARE PROVIDED TO THE BOARD. THE BOARD THEN REVIEWS THE BENCHMARKS. THE BOARD APPROVES THE CEO/PRESIDENT'S SALARY, WHILE THE CEO/PRESIDENT APPROVES THE DEPARTMENT DIRECTORS' SALARIES BASED ON THE BENCHMARKS AND THE BUDGET APPROVED BY THE BOARD. THESE BENCHMARKS ARE UPDATED EVERY FEW YEARS. FORM 990, PART VI, SECTION C, LINE 18 COPY AVAILABLE AT MAIN OFFICE FORM 990, PART VI, SECTION C, LINE 19 COPY AVAILABLE AT MAIN OFFICE FORM 990, PART XI, LINE 9: MEMBERSHIP FEES -6,315. GAIN ON RETIREMENT OF CAPITAL CREDITS 97,997. RETIREMENT OF CAPITAL CREDITS -1,866,738. CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS 897,050. AMORTIZATION OF NET ACTUARIAL GAIN -29,291. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT UNDERGONE ANY CHANGES FROM THE PRIOR YEAR.