2025-10-13T14:30:24-04:00 2024-12-31 541320089 ADAMS JENKINS & CHEATHAM 231 WYLDEROSE DR MIDLOTHIAN VA 23113 990 2024-01-01 540377465 SHENANDOAH VALLEY ELECTRIC COOPERATIVE SHEN 5404342200 180 OAKWOOD DR ROCKINGHAM VA 22801 GREGORY S ROGERS PRESIDENT & CEO 5404342200 2025-07-15 true true G STEVEN GILLIAM CPA P00348264 8043231313 2025-10-13 2024 2025-03-06 01:10:19Z GREGORY S ROGERS 180 OAKWOOD DR ROCKINGHAM VA 22801 303682695 false X WWW.SVEC.COOP X 1936 VA PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. 10 10 273 158974 157974 0 287977406 300642526 3612424 1459161 1545928 1278607 293135758 303380294 0 11769822 17660121 29731246 32992793 0 0 246835197 246272522 288336265 296925436 4799493 6454858 614582746 651683744 391420461 413641544 223162285 238042200 PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. false false PROVIDE RELIABLE AND SAFE ELECTRIC SERVICE AT THE BEST POSSIBLE VALUE WITHIN OUR COMMUNITIES, CONSISTENT WITH SOUND MANAGEMENT AND COOPERATIVE PRINCIPLES. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 195,299,488 OTHER SALARIES AND WAGES 26,192,930 DEPRECIATION EXPENSE 21,498,719 false false false false false false false false false true false true false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 61 0 true 273 true true true false false false false 293146012 9417050 false false false X 10 10 false false false false true true true true true false false true true true true true true true true false X SHENANDOAH VALLEY ELECTRIC COOP 5404342200 180 OAKWOOD DR ROCKINGHAM VA 22801 X GREGORY S ROGERS PRESIDENT & 60.00 X 593071 0 109852 JONATHAN M AULGUR ASST SEC/TRE 50.00 X 315230 0 48884 WAYNE D HANNAH JR VP & CIO 55.00 X 260109 0 85179 JASON E BURCH VP ENGINEERI 50.00 X 235252 0 54316 TRACY MCBRIDE VP FINANCE 50.00 X 214534 0 58014 WILLIAM E REES DIR OPS SUP 50.00 X 195080 0 69041 MICHAEL S ALEXANDER LEAD LINEMAN 58.00 X 204537 0 46446 BILL ORNDOFF DIRECTOR 5.35 X 45100 0 0 JR DOFFLEMYER CHAIR 4.19 X X 42950 0 0 LARRY C HOWDYSHELL DIRECTOR 8.63 X 42800 0 0 BRENT ARBOGAST SEC/TREAS 4.08 X X 41825 0 0 CA HELSLEY DIRECTOR 4.14 X 40600 0 0 STEPHEN BURKHOLDER DIRECTOR 3.62 X 39925 0 0 TODD VAN HORN VICE CHAIR 4.23 X X 39375 0 0 SUZANNE OBENSHAIN DIRECTOR 5.72 X 38900 0 0 ROBBIE F MARCHANT DIRECTOR 6.77 X 37325 0 0 BRIAN PLUM DIRECTOR 4.98 X 36875 0 0 2423488 471732 106 false true false DAVIS H ELLIOTT PO BOX 37251 BALTIMORE MD 21297 RIGHT OF WAY 11225280 XYLEM TREE EXPERTS 208 E PLUME ST SUITE 250 NORFOLK VA 23510 TREE TRIMMING 5816393 TIMMONS GROUP INC 1001 BOULDERS PARKWAY RICHMOND VA 23225 WORK ORDERS 2437510 WEED CONTROL 2314 PATTERSON AVE SW ROANOKE VA 24016 R/W SPRAYING 1673476 PIKE ENGINEERING PO BOX 746315 ATLANTA GA 30374 WORK ORDERS 1271322 24 SALE AND DIST. OF ELECT. 221000 293146012 293146012 CONTRIB IN AID OF CONSTRUCT 221000 7412040 7412040 PATRONAGE ALLOC RECEIVED 221000 84474 84474 300642526 1516313 1516313 1426821 148214 1278607 1278607 158974 1119633 97035 154187 -57152 -57152 -57152 303380294 300642526 158974 2578794 X 17660121 1472712 26192930 3159051 2168100 710251 2792567 103219 11738395 21498719 COST OF POWER 195299488 DISTRIBUTION MAINTENANCE 12453068 DISTRIBUTION OPERATION 6498026 ADMIN & GENERAL 5720765 -10541976 296925436 0 0 0 13961500 12242115 24839824 14814777 33482865 36101990 18280438 25572783 4385032 3829999 722394770 235710882 449627278 486683888 69055587 71435123 950222 1003069 614582746 651683744 22109286 24567718 361371103 380790861 7940072 8282965 391420461 413641544 X 223162285 238042200 223162285 238042200 614582746 651683744 X 6454858 8425057 X false true X true false 4175181 4175181 718219589 235710882 482508707 486683888 PATRONAGE CAPITAL ALLOCATIONS 69922239 C CAPITAL TERM CERTIFICATES 1474539 C BUILDING 36320 C MEMBERSHIP FEES 2025 C 71435123 CONSUMER DEPOSITS 4722272 OTHER CURRENT LIABILITIES 2883451 DEFERRED CREDITS 677242 8282965 X 298542676 2574597 2574597 295968079 7412215 7412215 303380294 279413354 148214 148214 279265140 17660296 17660296 296925436 SCHEDULE D, PAGE 3, PART X 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 RETURNS, INCLUDING ITS STATUS AS A TAX- EXEMPT ELECTRIC COOPERATIVE ENTITY. THE COOPERATIVE BELIEVES ITS TREATMENT AS A TAX-EXEMPT UTILITY 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. SCHEDULE D, PAGE 4, PART XI, LINE 2D CASH PATRONAGE RECEIVED 2,416,168 TOWER EXPENSES NETTED IN REVENUE 148,214 UNREALIZED GAIN 10,215 SCHEDULE D, PAGE 4, PART XI, LINE 4B CONTRIBUTIONS IN AID OF CONSTRUCTION 7,412,040 OTHER 175 SCHEDULE D, PAGE 4, PART XII, LINE 2D RENTAL EXPENSES NETTED AGAINST REVENUE 148,214 SCHEDULE D, PAGE 4, PART XII, LINE 4B PATRONAGE CREDITED TO MEMBER ACCOUNTS 17,660,121 OTHER 175 X true true X X X X X false true false GREGORY S ROGERS PRESIDENT & CEO 494899 98172 92000 17852 702923 JONATHAN M AULGUR ASST SEC/TREAS 302730 12500 44949 3935 364114 WAYNE D HANNAH JR VP & CIO 250309 9800 67455 17724 345288 JASON E BURCH VP ENGINEERING 224652 10600 35799 18517 289568 TRACY MCBRIDE VP FINANCE 206134 8400 40770 17244 272548 WILLIAM E REES DIR OPS SUPPORT 187580 7500 52003 17038 264121 MICHAEL S ALEXANDER LEAD LINEMAN 202257 2280 35315 11131 250983 SCHEDULE J, PAGE 1, PART I, LINE 4 GREGORY S. ROGERS 0 23,000 0 WAYNE D. HANNAH, JR. 0 1,049 0 SCHEDULE J, PART III CERTAIN INDIVIDUALS PARTICIPATE IN A NONQUALIFIED EXECUTIVE BENEFIT RESTORATION PLAN (EBR)UNDER CODE SECTION 457(B), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED 401(K) PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED 401(K) PLAN. FORM 990 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, PAGE 6, PART VI, LINE 6 SHENANDOAH VALLEY ELECTRIC COOPERATIVE IS AN ELECTRIC MEMBERSHIP COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF SVEC. FORM 990, PAGE 6, PART VI, 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, PAGE 6, PART VI, 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, PAGE 6, PART VI, LINE 11B THE PRESIDENT AND CEO OR A DESIGNEE WILL REVIEW THE 990 WITH THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PAGE 6, PART VI, LINE 12C THE COOPERATIVE'S LEGAL COUNSEL ANNUALLY REVIEWS THE CONFLICT OF INTEREST COMPLIANCE AND ENFORCEMENT WITH THE GOVERNING BOARD. FORM 990, PAGE 6, PART VI, 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. FORM 990, PAGE 6, PART VI, 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, PAGE 6, PART VI, 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 INFORMATION IS PRESENTED TO THE MEMBERSHIP EACH YEAR AT THE ANNUAL MEETING. THIS INFORMATION IS ALSO PUBLISHED IN THE COOPERATIVE'S MAGAZINE COOPERATIVE LIVING WITH LINKS AVAILABLE ON THE WEBSITE. FORM 990, PART VII 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 IS, 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 XI, LINE 9 NET INCREASE IN MEMBERSHIPS 4,760 CHANGE IN DONATED CAPITAL 332,677 CASH PATRONAGE RECEIVED 2,416,168 PATRONAGE CAPITAL CREDITED TO MEMBER ACCOUNTS 17,660,121 UNREALIZED GAIN ON 457 PLAN 10,215 RETIREMENT OF CAPITAL CREDITS -4,586,844 CONTRIBUTIONS IN AID OF CONSTRUCTION -7,412,040 TOTAL 8,425,057