2017-11-09T10:42:56-07:00 2016-12-31 990 2016-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2017-11-09 208.87.234.201 2016 2017-02-10 21:41:12Z NOVEC Stanley C Feuerberg P O Box 2710 Manassas VA 201080875 437707158 0 X www.novec.com X 1983 VA Mission: To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Activity: Distribution of Electricity; serving approx. 164,658 meters/customers. 8 8 337 0 0 0 0 0 468291000 430871436 3264190 3514266 405016 3321456 471960206 437707158 0 0 7111528 3419665 22521245 21035371 0 0 0 422041352 387219686 451674125 411674722 20286081 26032436 854427969 873733780 208259354 199841942 646168615 673891838 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (164,658 Meters/Customers) 0 0 411674722 0 430871436 Provide affordable service to its 164,658 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $3.4M in patronage capital; connected 3,542 meters and completed $43M in new construction during the fiscal year. 0 0 0 411674722 0 0 1 0 0 0 0 0 0 1 1 0 1 1 0 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 40 0 1 337 1 0 0 0 0 0 430871436 551749 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X X NOVEC Northern Virginia Electric Cooperative 7033350500 PO Box 2710 Manassas VA 201080875 House Wade Chairman 2.29 0 X 28800 0 5506 James Chesley Vice Chairperson 2.33 0 X 32400 0 5560 Ragan Michael E Secretary 2.15 0 X 28800 0 5889 Wheeler Ann Treasurer 2.06 0 X 31900 0 4372 Albrite Jr Cleil W Director 2.08 X 30000 0 356 Garber J Manley Director 2.27 0 X 20400 0 23029 Gilbride Cynthia Director 1.94 0 X 24000 0 5612 George Brent Director 2.35 0 X 24000 0 363 Feuerberg Stan President/CEO 40 0 X 602229 0 82237 Rollins Wilbur Senior Vice President - Finance 40 0 X 288369 0 67909 Curtis William Vice President - Public Relations 40 0 X 166603 0 49964 Moxley James C Senior Vice President - Admin Substations Telecom 40 0 X 215872 0 61910 Dailey Michael Vice President - Energy Bus Development 40 0 X 208621 0 59646 Shaffer Clarence Vice President - Electric System Operations 40 0 X 80480 0 47644 Toulme Patrick Vice President & Corporate Counsel 40 0 X 210209 0 62754 Bisson Robert Vice President - Electric System Development 40 0 X 216627 0 59901 Johnson Diane Vice President - Customer Service 40 0 X 140529 0 35778 Rainey John Dir - Origination and Plant Ops 40 0 X 176741 0 52507 Spinner Howard Manager - Regulatory Affairs 40 0 X 154578 0 51903 Jaramillo Gilbert Manager - Bus Development & Energy Svcs 40 0 X 143945 0 49616 Hollcroft Mason Manager - System Construction 40 0 X 134879 0 46693 Swingle Daniel IVP - Electric System Operations 40 0 X 130187 0 45474 Hampton Dan Lead Line Technician 40 0 X 132483 0 30337 Pingley Chris Service Technician 59 0 X 126832 0 37826 Sarraj Kanar Manager - Sys Engineering & Planning 40 0 X 121283 0 45430 Myers Gordon Manager - Accounting 40 0 X 122604 0 33161 Hawkins Warren Manager - Quality Assurance 40 0 X 118546 0 37360 3711917 0 1008737 26 0 1 0 Leo Construction Company PO Box 966 Sterling VA 201673966 Underground Utility Construction 5258945 C W Wright Construction Company 11500 Ironbridge Road Chester VA 238318280 Substation Construction 4982869 New River Electrical PO Box 70 Cloverdale VA 24077 Utility Plant Construction 4310850 LEWIS TREE SERVICE INC PO BOX 731897 Dallas TX 753731897 Construction/ROW 4236345 LOCKHEED MARTIN PO Box 13522 Newark NJ 071883522 IT Services 3599206 7 0 Electricity Sales 221122 426052901 426052901 0 0 Electric Service 221122 3684124 3684124 0 0 1134411 1134411 0 0 430871436 3514266 3514266 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 551749 551749 0 0 Patronage Capital from Associate Org 900099 2769707 2769707 0 0 0 0 0 0 3321456 437707158 437707158 0 0 0 0 0 3419665 2115402 0 14236393 2359068 1025203 1299305 4012685 441689 446977 80912 0 0 605035 820187 3578660 1856484 0 238447 85335 0 75410 2198720 64767 23520006 1000713 Purchased Power Cost 324583366 Transmission & Distribution 8534615 Customer Services & Sales 2656360 Franchise and Regulatory Cost 6826487 5592831 411674722 0 0 0 3107033 2033367 42857962 41279264 0 0 30265000 37316133 0 0 0 0 88060793 86453398 12577070 13588859 2392309 2528122 831070888 287150840 528425640 543920048 0 0 49619997 45715360 7149980 7143153 0 0 89972185 93756076 854427969 873733780 34265942 29471685 0 0 1948356 1694904 0 0 0 0 0 0 141528024 130631799 0 0 30517032 38043554 208259354 199841942 X 883675 840979 24532046 26265529 620752894 646785330 646168615 673891838 854427969 873733780 X 26032436 639309 0 0 0 1051478 X 0 1 X 1 0 3250 0 3250 0 3250 1 Friends of Luke Torian 4222 Fortuna Plaza Suite 659 Dumfries VA 22025 264035793 250 0 Friends of Scott Lingamfelter 5420 Lomax Way Woodbridge VA 22193 470911440 250 0 Michael Webert for Delegate PO Box 631 Marshall VA 20116 000000000 250 0 Dudenhefer for Delegate PO Box 467 Garrisonville VA 22463 452040705 250 0 David W Marsden Marsden for Senate PO Box 10889 Burke VA 22009 271338500 250 0 Friends of Jackson Miller PO Box 10072 Manassas VA 201080632 300369691 500 0 Friends of Tim Hugo PO Box 893 Centreville VA 20122 510420767 250 0 Petersen for State Senate PO Box 1066 Fairfax VA 22038 760846380 500 0 Friends of Pat Herrity PO Box 2863 Springfield VA 22152 208668416 250 0 Friends of Kelly Burk 111 Carlton Street SW Leesburg VA 20175 000000000 250 0 Friends of John Jenkins 4194 Windflower Court Dale City VA 22193 541998247 250 0 Schedule C, Part I-A, Line 1 Provided campaign contributions to support local and state candidates. 17422644 0 17422644 20760772 0 11434856 9325916 645882 0 531940 113942 27735433 0 24222298 3513135 764506157 0 250961746 513544411 543920048 45715360 F 45715360 Investment in Associated Organizations 55254320 Collateral 6810800 457 Deferred Compensation 3443169 Accrued Unbilled Revenue 26988293 Other current assets 1259494 93756076 0 Consumer Deposits, Benefits, & Post Retirement Funding 4598669 Other Misc Liabilities 403438 Over/Under PCA Recovery 8302232 CIAC Advanced Deposits 24739215 38043554 437707158 0 0 0 0 0 437707158 0 0 0 437707158 408255057 0 0 0 0 0 408255057 0 3419665 3419665 411674722 Schedule D, Part XII, Line 4b Includes patronage dividends in the amount of $3,419,665 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 592870 0 0 0 9359 0 8250 0 73987 0 684466 0 0 0 Rollins Wilbur Senior Vice President - Finance 261945 0 24000 0 2424 0 7945 0 59964 0 356278 0 0 0 Curtis William Vice President - Public Relations 146590 0 18000 0 2013 0 838 0 49126 0 216567 0 0 0 Moxley James C Senior Vice President - Admin Substations Telecom 191233 0 19500 0 5139 0 6000 0 55910 0 277782 0 0 0 Dailey Michael Vice President - Energy Bus Development 181439 0 25500 0 1682 0 5693 0 53953 0 268267 0 0 0 Shaffer Clarence Vice President - Electric System Operations 67031 0 12000 0 1449 0 2049 0 45596 0 128125 0 0 0 Toulme Patrick Vice President & Corporate Counsel 184500 0 24000 0 1709 0 6360 0 56394 0 272963 0 0 0 Bisson Robert Vice President - Electric System Development 192902 0 21000 0 2724 0 3956 0 55945 0 276527 0 0 0 Johnson Diane Vice President - Customer Service 124920 0 12500 0 3109 0 2499 0 33280 0 176308 0 0 0 Rainey John Dir - Origination and Plant Ops 151679 0 22946 0 2117 0 2492 0 50015 0 229249 0 0 0 Spinner Howard Manager - Regulatory Affairs 135198 0 18185 0 1195 0 4739 0 47164 0 206481 0 0 0 Jaramillo Gilbert Manager - Bus Development & Energy Svcs 124545 0 18785 0 615 0 4437 0 45179 0 193561 0 0 0 Hollcroft Mason Manager - System Construction 114916 0 18983 0 980 0 4154 0 42539 0 181572 0 0 0 Swingle Daniel IVP - Electric System Operations 114312 0 15652 0 223 0 4012 0 41462 0 175661 0 0 0 Hampton Dan Lead Line Technician 130204 0 2200 0 79 0 4005 0 26333 0 162821 0 0 0 Pingley Chris Service Technician 124375 0 2325 0 131 0 2275 0 35551 0 164657 0 0 0 Sarraj Kanar Manager - Sys Engineering & Planning 103356 0 17575 0 352 0 3915 0 41515 0 166713 0 0 0 Myers Gordon Manager - Accounting 106498 0 14855 0 1251 0 3616 0 29545 0 155765 0 0 0 Hawkins Warren Manager - Quality Assurance 101934 0 15309 0 1303 0 3246 0 34114 0 155906 0 0 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 The VP of 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: ($42,696); OCI & Reacquired Donations: $1,094,174. NOVEC Holdings Inc 10323 Lomond Drive Manassas VA 20109 900719502 Holding Company 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 generators, water heaters, surge protectors & fiber internet 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 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 2695455 Interest rate is the applied rate by the bank for construction loans. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass p 170994 Labor is reimbursed at cost plus a fringe benefits fee. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 164846 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc n 5915 Rent is determined by rental market analysis. NOVEC Solutions Inc o 75202 Labor is reimbursed at cost plus fringe benefit fee. NOVEC Solutions Inc q 308726 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc p 64767 Internet delivery fee is by contracted rate. NOVEC Energy Solutions Inc j 14903 Rent is determined by rental market analysis. NOVEC Energy Solutions Inc o 56237 Labor cost is reimbursed at cost plus fringe benefit fee. NOVEC Energy Solutions Inc q 247236 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Energy Solutions Inc d 6000000 Limited guaranty of revolving line of credit with an interest agreement based on LIBOR PLUS 2.75%. The organization filed an extension to November 15, 2017, in order to prepare a complete and accurate return, and allow for review by the Board.