2025-11-17T13:22:30-06:00 2024-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2024-01-01 840358317 YAMPA VALLEY ELECTRIC ASSOCIATION YAMP 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 EMILY ZVORAK MGR OF FINANCE & ACCOUNTING 9708791160 2025-11-14 1 0 WILLIAM M MILLER P00439459 8067473806 2025-11-14 X 2024 2025-03-06 01:10:19Z STEVE JOHNSON 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 82484290 0 X WWW.YVEA.COM X 1940 CO TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS. 9 9 93 0 5954782 0 0 0 71031580 75645880 520263 711286 7049985 6036610 78601828 82393776 22119 1269 5977817 7507027 12511267 12076284 0 0 0 58592610 58226771 77103813 77811351 1498015 4582425 210963955 220943036 130365652 135379014 80598303 85564022 YAMPA VALLEY ELECTRIC ASSOCIATION IS A COOPERATIVE THAT ENHANCES THE LIVES OF ITS MEMBER OWNERS THROUGH TECHNOLOGY AND CONSULTING RESOURCES THAT DELIVER CLEAN, SAFE, AND RELIABLE ELECTRIC SERVICE IN AN ENVIRONMENTALLY AND FINANCIALLY RESPONSIBLE MANNER. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 28,641 CONSUMERS AT YEAR END. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 89 0 93 1 1 1 0 0 0 0 79047773 6960743 0 0 0 X 9 9 0 0 1 0 1 1 1 1 0 0 0 1 1 1 0 1 1 1 1 0 X EMILY ZVORAK MGR OF FINANCE & ACCOUNTING 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 X SCOTT MCGILL DIRECTOR 8.40 X 25028 0 0 THOMAS FOX CHAIRMAN 3.70 X X 22045 0 0 RAYMOND DUBOIS DIRECTOR 4.40 X 17275 0 0 DANIEL LEBLANC DIRECTOR 2.80 X 12873 0 0 STEVEN RAY BOOKER DIRECTOR 2.80 X 12195 0 0 PATRICK DELANEY DIRECTOR 2.80 X 11785 0 0 GLYNDA S SHEEHAN TREASURER 3.50 X X 11505 0 0 SASHA NELSON VICE CHAIRMAN 5.00 X X 11075 0 0 KEN ROGERS VICE CHAIRMAN (JAN-JUN) 3.40 X X 9617 0 0 SHEELA WAUGH DIRECTOR (JUL-DEC) 1.40 X 2850 0 0 STEVEN JOHNSON GM/PRESIDENT (JAN-JUL) 45.00 X 280910 0 141720 EMILY ZVORAK MANAGER OF FINANCE & ACCOUNTING 45.00 X 187258 0 34055 SCOTT BLECKE CEO/PRESIDENT (AUG-DEC) 58.00 X 156571 0 26956 LARISSA ROCK EXEC. ASSISTANT/BOARD SECRETARY 45.00 X 102508 0 46129 JAMES CROSS ENGINEERING MANAGER 45.00 X 199782 0 104085 JOHN CROMER OPERATIONS MANAGER 50.00 X 198902 0 89563 ERIN LAWLESS HR MANAGER 40.00 X 186336 0 38990 CHESTER JOHNSON IT MANAGER 47.00 X 157790 0 42723 DAVE SRITE FOREMAN 52.56 X 195100 0 63043 TRENT PARROT LINEMAN 51.71 X 177069 0 47539 CHARLES TUCKER SAFETY COORDINATOR 49.85 X 193050 0 27608 JACOB PERKINS LINEMAN 50.96 X 175724 0 42631 KOLBY GINTER LINEMAN 48.54 X 173761 0 33745 2521009 0 738787 53 0 1 0 COLORADO POWERLINE INC PO BOX 937 SEDALIA CO 80135 LINE CONSTRUCTION 1327432 ASPLUNDH TREE EXPERT CO PO BOX 532729 ATLANTA GA 30353 LINE TREE TRIMMING 933577 NORTHWEST EXCAVATING LLC PO BOX 772548 STEAMBOAT SPRINGS CO 80477 EXCAVATING SERVICES 826627 WARD ELECTRIC CO INC 9586 E I-25 FRONTAGE RD STE B LONGMONT CO 80504 LINE CONSTRUCTION 763061 WILDERNESS EARTHWORKS LLC 24615 RCR 56 STEAMBOAT SPRINGS CO 80487 EXCAVATING SERVICES 551641 22 X SALES OF ELECTRICITY 221000 73943266 73943266 MISC SERVICE FEES & SALES 221000 753970 753970 PATRONAGE DIVIDENDS 221000 524231 523794 437 SALE OF RENEWABLE ENERGY CREDIT 221000 343222 343222 OTHER PROGRAM REVENUE 221000 81191 81191 75645880 696065 696065 105735 90514 15221 15221 47031 -31810 LUMINATE FIBER SALES 517000 5274773 5274773 LUMINATE GRANTS & CIAC 221000 711382 711382 POLE ATTACHMENT INCOME 221000 50455 50455 6036610 82393776 75692474 5954782 746520 X 1269 7507027 2130526 7246399 1126619 931739 641001 4639324 8614684 PURCHASED POWER 35313493 DISTRIBUTION EXPENSE 4425138 ADMIN & GENERAL EXPENSE 2906905 CONSUMER EXPENSE 971787 1355440 77811351 11315059 19231373 9416409 10387033 9420066 9393316 2267126 1981733 270125690 96254909 173017508 173870781 5044471 5293554 483316 785246 210963955 220943036 7344283 12103081 9438720 12651898 108427529 105146027 5155120 5478008 130365652 135379014 X 0 0 0 0 80598303 85564022 80598303 85564022 210963955 220943036 X 4582425 383294 X X 0 1 X 1 0 3282862 3282862 28675504 6544474 22131030 235580271 89710435 145869836 2587053 2587053 173870781 DEFERRED CREDITS - REFUNDABLE AID TO CONSTRUCTION 86633 DEFERRED CREDITS - UNCLAIMED CAPITAL CREDITS 1304838 CONSUMER DEPOSITS 340476 ACCRUED OPERATING TAXES 1468057 OVER RECOVERY OF PCA 2270221 LUMINATE OTHER LIABILITIES 7783 5478008 X 78158536 38557 38557 78119979 4273797 4273797 82393776 70241909 0 70241909 7569442 7569442 77811351 PART X, LINE 2: THE ASSOCIATION FOLLOWS THE "UNCERTAIN TAX POSITIONS" PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. THE PRIMARY TAX POSITION OF THE ASSOCIATION IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE ASSOCIATION DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ITS TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE, OR OTHER STATE TAXING AUTHORITY, AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: UBI TAX BASIS ADJUSTMENT FOR SALE OF PROPERTY 38,557. PART XI, LINE 4B - OTHER ADJUSTMENTS: MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990 PART IX 62,415. LUMINATE FIBER CONTRIBUTIONS IN AID OF CONSTRUCTION & GRANTS - UBI TAX BASIS 711,382. DEFERRED REVENUE ALLOCATED PER BOARD APPROVED PLAN 3,500,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 7,507,027. MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990, PART IX 62,415. PART VIII: THE AMOUNT OF INVESTMENTS - PROGRAM RELATED ON FORM 990, PAGE 11, PART X, LINE 13 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART VIII HAS BEEN LEFT BLANK. PART IX: THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. PART XII, LINE 4B: FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED AS AN INCREASE IN EQUITY AND NOT AS AN EXPENSE. THEREFORE, NET INCOME PER THE AUDITED FINANCIAL STATEMENTS IS REPORTED GROSS OF THE AMOUNT OF PATRONAGE DIVIDENDS THAT ARE EITHER ALLOCATED OR TO BE ALLOCATED AT THE TIME THE AUDITED FINANCIAL STATEMENTS ARE PREPARED. HOWEVER, BECAUSE THE ALLOCATION OF PATRONAGE DIVIDENDS IS ONE ASPECT OF HOW THE ASSOCIATION FULFILLS ITS TAX EXEMPT PURPOSE OF OPERATING ON A COOPERATIVE BASIS, THE AMOUNT OF PATRONAGE DIVIDENDS EITHER ALLOCATED OR TO BE ALLOCATED TO THE MEMBERS IS REPORTED ON FORM 990, PART IX, LINE 4 AS "BENEFITS PAID TO MEMBERS". PATRONAGE DIVIDENDS ARE ALLOCATED ON A PATRONAGE BASIS AND DONE SO PURSUANT TO A PRE-EXISTING OBLIGATION AS PROVIDED FOR IN THE "NON-PROFIT OPERATION" ARTICLE OF THE ASSOCIATION'S BYLAWS. X 1 1 X X X 0 0 0 STEVEN JOHNSON GM/PRESIDENT (JAN-JUL) 254835 0 0 0 26075 0 111413 0 30307 0 422630 0 0 0 JAMES CROSS ENGINEERING MANAGER 185758 0 657 0 13367 0 84579 0 19506 0 303867 0 0 0 JOHN CROMER OPERATIONS MANAGER 173637 0 657 0 24608 0 49424 0 40139 0 288465 0 0 0 DAVE SRITE FOREMAN 183680 0 657 0 10763 0 23775 0 39268 0 258143 0 0 0 ERIN LAWLESS HR MANAGER 174095 0 657 0 11584 0 18861 0 20129 0 225326 0 0 0 TRENT PARROT LINEMAN 167239 0 657 0 9173 0 10775 0 36764 0 224608 0 0 0 EMILY ZVORAK MANAGER OF FINANCE & ACCOUNTING 174838 0 690 0 11730 0 13371 0 20684 0 221313 0 0 0 CHARLES TUCKER SAFETY COORDINATOR 178546 0 657 0 13847 0 13552 0 14056 0 220658 0 0 0 JACOB PERKINS LINEMAN 166894 0 657 0 8173 0 8667 0 33964 0 218355 0 0 0 KOLBY GINTER LINEMAN 169421 0 715 0 3625 0 12707 0 21038 0 207506 0 0 0 CHESTER JOHNSON IT MANAGER 133187 0 715 0 23888 0 25452 0 17271 0 200513 0 0 0 SCOTT BLECKE CEO/PRESIDENT (AUG-DEC) 126226 0 25715 0 4630 0 13941 0 13015 0 183527 0 0 0 PART II, COLUMN C: INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. STEVEN JOHNSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 100,085 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,328 TOTAL REPORTED IN COLUMN C $ 111,413 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (100,085) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,308 EXPENSE TO THE COOPERATIVE $ 58,636 JAMES CROSS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 76,488 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,091 TOTAL REPORTED IN COLUMN C $ 84,579 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (76,488) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,395 EXPENSE TO THE COOPERATIVE $ 42,486 JOHN CROMER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,560 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,864 TOTAL REPORTED IN COLUMN C $ 49,424 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,560) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,289 EXPENSE TO THE COOPERATIVE $ 41,153 DAVE SRITE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,890 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,885 TOTAL REPORTED IN COLUMN C $ 23,775 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,890) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,452 EXPENSE TO THE COOPERATIVE $ 29,337 ERIN LAWLESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,490 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,371 TOTAL REPORTED IN COLUMN C $ 18,861 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (12,490) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 1,175 EXPENSE TO THE COOPERATIVE $ 7,546 TRENT PARROT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,471 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,304 TOTAL REPORTED IN COLUMN C $ 10,775 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,471) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,102 EXPENSE TO THE COOPERATIVE $ 28,406 EMILY ZVORAK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,897 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,474 TOTAL REPORTED IN COLUMN C $ 13,371 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,897) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,619 EXPENSE TO THE COOPERATIVE $ 39,093 CHARLES TUCKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,781 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,771 TOTAL REPORTED IN COLUMN C $ 13,552 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,781) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,332 EXPENSE TO THE COOPERATIVE $ 33,103 JACOB PERKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,314 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,353 TOTAL REPORTED IN COLUMN C $ 8,667 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,314) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,068 EXPENSE TO THE COOPERATIVE $ 26,421 KOLBY GINTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,798 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,909 TOTAL REPORTED IN COLUMN C $ 12,707 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,798) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,289 EXPENSE TO THE COOPERATIVE $ 27,198 CHESTER JOHNSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,712 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,740 TOTAL REPORTED IN COLUMN C $ 25,452 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,712) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 1,039 EXPENSE TO THE COOPERATIVE $ 4,779 SCOTT BLECKE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,018 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,923 TOTAL REPORTED IN COLUMN C $ 13,941 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,018) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 2,729 EXPENSE TO THE COOPERATIVE $ 7,652 ANDREW WELCH FAMILY RELATIONSHIP - EMPLOYEE OFFICER (ZVORAK) 85327 LUMINATE EMPLOYEE 0 FORM 990, PART VI, SECTION A, LINE 1A THE ASSOCIATION HAS 9 BOARD MEMBERS; ALL 9 ARE ALLOWED TO VOTE. FORM 990, PART VI, SECTION A, LINE 4 DURING THE YEAR, THE COOPERATIVE'S BYLAWS WERE AMENDED. THE FOLLOWING IS A SUMMARY OF THE CHANGES: ARTICLE X - DISPOSTION OF PROPERTY: SECTION A, CHANGED MAXIMUM PERCENTAGE OF PROPERTY VALUE THAT THE BOARD OF DIRECTORS CAN SELL FROM 10% TO 15%. A COPY OF THE BYLAWS CAN BE FOUND ON THE COOPERATIVE'S WEBSITE: HTTPS://WWW.YVEA.COM/ABOUT-US/COMPANY-DOCUMENTS/YVEA-BYLAWS. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC SERVICE AT COST ON A COOPERATIVE BASIS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ASSOCIATION VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE ASSOCIATION: 1. DISSOLUTION/LIQUIDATION OF THE ASSOCIATION 2. MERGER OR CONSOLIDATION OF THE ASSOCIATION WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE ASSOCIATION'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION FORM 990, PART VI, SECTION A, LINE 8B THE ASSOCIATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PROVIDED A COPY OF THE RETURN TO THE BOARD OF DIRECTORS PRIOR TO FILING THE FORM 990. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS PERFORM AN ANNUAL REVIEW AND UTILIZE INTERNAL RESOURCES WHEN DETERMINING THE COMPENSATION OF THE CEO. A WRITTEN EMPLOYMENT CONTRACT IS ALSO EMPLOYED. THE CEO UTILIZES INTERNAL RESOURCES AS WELL AS A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE COOPERATIVE'S OTHER EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEES, IF ANY. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION WILL PROVIDE A COMPLETE COPY OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS TO ANY MEMBER WHO REQUESTS A COPY OF ANY SUCH DOCUMENT. ANNUALLY, THE ASSOCIATION PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE ASSOCIATION WITH THE ANNUAL REPORT. ADDITIONALLY, A COMPLETE COPY OF THE BYLAWS ARE LOCATED ON THE COOPERATIVE'S WEBSITE. HTTPS://WWW.YVEA.COM/YVEA-BYLAWS FORM 990, PART VII, COLUMN F: IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE ASSOCIATION HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE ASSOCIATION PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING EMPLOYEE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE ASSOCIATION ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES, INCLUDING EMPLOYEE OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE EMPLOYEE OFFICERS, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES IS COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND INSURANCE PAID ON BEHALF OF AND FOR THEIR BENEFIT. FORM 990, PART VIII, LINE 2: PATRONAGE DIVIDENDS RESULT FROM THE PURCHASE OF WHOLESALE POWER FROM A GENERATION & TRANSMISSION COOPERATIVE. PATRONAGE DIVIDENDS ALSO RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE ASSOCIATION TO ITS MEMBERS. FORM 990, PART IX: ALTHOUGH NO LONGER A USDA RURAL UTILITIES SERVICE (RUS) BORROWER, THE ACCOUNTING RECORDS OF THE ASSOCIATION ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. FORM 990, PART IX, LINE 4: PURSUANT TO THE FORM 990 INSTRUCTIONS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID TO THE MEMBERS (HEREINAFTER REFERRED TO AS "PATRONS") SHOULD BE REPORTED ON PART IX, LINE 4. THE PHRASE "PATRONAGE DIVIDENDS PAID" REFERS TO THE PROCESS, SUBSEQUENT TO YEAR-END, BY WHICH THE ASSOCIATION ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE ASSOCIATION'S TAX EXEMPT PURPOSE IS TO PROVIDE ELECTRICITY TO ITS PATRONS AND TO DO SO ON A COOPERATIVE BASIS. TAX LAW DEFINES "OPERATING ON A COOPERATIVE BASIS" AS SUBORDINATION OF CAPITAL, DEMOCRATIC CONTROL, AND OPERATION AT COST. THE ASSOCIATION OPERATES AT COST THROUGH THE ALLOCATION OF TRUE PATRONAGE DIVIDENDS (ALSO REFERRED TO AS ALLOCATIONS OF PATRONAGE CAPITAL) TO ITS PATRONS. PATRONAGE DIVIDENDS ARE CONSIDERED PAID IF THE ALLOCATION IS MADE (1) PURSUANT TO A PRE-EXISTING OBLIGATION, (2) FROM THE MARGINS PRODUCED FROM THE TRANSACTIONS DONE WITH OR FOR PATRONS, AND (3) IN A FAIR AND EQUITABLE MANNER ON THE BASIS OF PATRONAGE (I.E. PURCHASES). ADDITIONALLY, THE ALLOCATION OF PATRONAGE DIVIDENDS SHOULD BE MADE WITHIN A REASONABLE TIME PERIOD AFTER THE CLOSE OF THE ASSOCIATION'S YEAR-END OF DECEMBER 31. EACH ONE OF THESE REQUIREMENTS FOR A TRUE PATRONAGE DIVIDEND IS PROVIDED FOR IN THE NON-PROFIT OPERATION ARTICLE OF THE BYLAWS. THE AMOUNT REPORTED ON PART IX, LINE 4 REPRESENTS THE AMOUNT OF PATRONAGE CAPITAL THAT IS EITHER ALLOCATED OR TO BE ALLOCATED TO THE PATRONS RESULTING FROM THEIR PURCHASE OF ELECTRICITY FROM THE ASSOCIATION FOR THE 2024 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE ASSOCIATION OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE ASSOCIATION HAS REPORTED SUCH AMOUNTS AS AN EXPENSE FOR FORM 990 REPORTING. PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOWEVER. FORM 990, PART IX, LINES 5-7: SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 9,376,925 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (136,248) LESS: EMPLOYEE OFFICER/KEY EMPLOYEE BENEFITS (524,221) PLUS: SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 28,258 PLUS: SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 2,008,423 PLUS: SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 573,892 TOTAL WAGES ACCRUED AND/OR PAID $11,327,029 FORM 990, PART IX, LINE 24: ADMINISTRATIVE & GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS, & OTHER $ 2,664,692 EMPLOYEE TRAINING & BENEFITS 805,214 OFFICE SUPPLIES 553,087 OUTSIDE SERVICES 682,872 INJURIES & DAMAGES 392,867 INSURANCE & REGULATORY FEES 107,984 RECRUITMENT 24,660 DUES & SUBSCRIPTIONS 163,671 DIRECTORS 414,805 MAINTENANCE OF GENERAL PLANT 982,822 MISCELLANEOUS GENERAL 90,075 LUMINATE FIBER ADMIN & GENERAL 1,411,718 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 8,294,467 LESS: ELIMINATING ENTRIES (215,520) LESS: RECLASS OF DIRECTOR FEES TO PART IX, LINE 5 (136,248) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (3,676,226) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (1,359,568) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 2,906,905 FORM 990, PART IX, LINE 24E: OTHER EXPENSES ARE COMPRISED OF THE FOLLOWING: COST OF INTERNET SALES AND SERVICE $ 797,322 MERCHANDISING EXPENSES 62,415 SALES 189,061 TRANSMISSION 317,255 OTHER DEDUCTIONS 28,899 PROVISION FOR INCOME TAX EXPENSE (BENEFIT) (39,512) TOTAL OTHER EXPENSES PER FORM 990, LINE 24E $ 1,355,440 FORM 990, PART XI, LINE 9: DONATED CAPITAL 7,078. PATRONAGE CAPITAL ALLOCATED OR TO BE ALLOCATED 7,507,027. PATRONAGE CAPITAL RETIRED - TOTAL -3,005,218. PATRONAGE CAPITAL RETIRED - DISCOUNT 50,579. LUMINATE FIBER SALES - UBI TAX BASIS OF CONTRIBUTION IN AID OF CONSTRUCTION -711,382. UNCLAIMED PATRONAGE CAPITAL CONTRIBUTED -3,347. LUMINATE FIBER SALES - UBI TAX BASIS ADJUSTMENT FOR SALE OF ASSET 38,557. BOOK-TAX ADJUSTMENT: DEFERRED REVENUE ALLOCATED -3,500,000. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. LUMINATE FIBER LLC 2211 ELK RIVER RD STEAMBOAT SPRINGS CO 80487 833781878 HIGH SPEED INTERNET & VOIP PHONE SERVICE CO 5485168 10887764 YAMPA VALLEY ELECTRIC ASSOCIATION YVEA CARING CONSUMERS FOUNDATION PO BOX 771218 STEAMBOAT SPRINGS CO 80477 881424966 BETTERING THE QUALITY OF LIFE OF CITIZENS WITHIN THE AREA CO 501(C)(3) LINE 7 YAMPA VALLEY ELECTRIC ASSOCIATION 1 YAMPA VENTURE SERVICES INC PO BOX 771218 STEAMBOAT SPRINGS CO 80477 841537973 INACTIVE CO YAMPA VALLEY ELECTRIC ASSOCIATION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 YVEA CARING CONSUMERS FOUNDATION N N/A - LESS THAN $50,000 YVEA CARING CONSUMERS FOUNDATION O N/A - LESS THAN $50,000