2017-11-13T12:57:05-08:00 2016-12-31 ADAMS JENKINS CHEATHAM PC 231 WYLDEROSE DR MIDLOTHIAN VA 231136845 990 2016-01-01 540377465 SHENANDOAH VALLEY ELECTRIC COOPERATIVE SHEN 5404342200 PO BOX 236 MT CRAWFORD VA 22841 Michael W Hastings President & CEO 2017-11-13 true G STEVEN GILLIAM CPA P00348264 8043231313 2016 2017-02-10 21:41:12Z Michael W Hastings PO Box 236 Mount Crawford VA 22841 250534895 false false X www.svec.coop X 1936 VA SAfe and effective DISTRIBUTION OF ELECTRICITY TO the members of SVEC 12 12 245 80655 79655 0 254480517 244742539 859378 3593412 982110 1018885 256322005 249354836 0 12410859 14566400 21367328 22632654 0 0 222743549 209056997 256521736 246256051 -199731 3098785 452209143 446814189 312614584 292418027 139594559 154396162 SAfe and effective DISTRIBUTION OF ELECTRICITY TO the members of SVEC false false SAFE AND EFFECTIVE distribution OF ELECTRICITY to the members of SVEC. The three largest program services as measured by expenses were as follows:Cost of Power $169,244,768Depreciation Expense $17,879,065Other Salaries and wages $16,931,738 false false false false false false false false false false true false true false true false 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 false false false false false false false true 51 0 true 245 true true true false false false false false false false 241705827 8028601 false false false X 12 12 false false false false true true true true true false false true true true true true true true true false X SHENANDOAH VALLEY ELECT COOP 5404342200 147 Dinkel Avenue MT CRAWFORD VA 22841 LARRY E GARBER Director 1.96 0.00 X 8900 0 0 David E Ferguson Director 6.61 0.00 X 20408 0 0 STEPHEN BURKHOLDER Director 7.39 0.00 X 21472 0 0 Fred C GARBER Director 6.96 0.00 X 18900 0 0 William A Orndoff Director 5.83 0.00 X 20272 0 0 G H Gibbs Director 3.82 0.00 X 20000 0 0 Gerald A HEATWOLE Vice Chairman 4.30 0.00 X X 18900 0 0 Larry C HOWDYSHELL Director 14.45 0.00 X 21600 0 0 Susan S Obenshain Director 4.36 0.00 X 10400 0 0 Charles H Huffman Sec. Treasurer 4.74 0.00 X X 21083 0 0 Joyce R CRAUN Director 3.81 0.00 X 20431 0 0 Robbie F Marchant Chairman 7.54 0.00 X X 24550 0 0 Richard C Shickle Sr Director 5.48 0.00 X 20048 0 0 MYRON RUMMEL RETIRED CEO 50.00 0.00 X 410812 0 16135 Michael W Hastings President & CEO 50.00 0.00 X 131151 0 30273 Thomas V Beamon VP FIN & ADMIN 55.00 0.00 X 182422 0 20628 John Coffey VP Eng Op 55.00 0.00 X 168766 0 52070 Wayne Hannah VP IT 55.00 0.00 X 167100 0 64064 Greg Rogers VP ENG OP 55.00 0.00 X 164128 0 41022 Vivian Michael VP HR 60.00 0.00 X 151234 0 69398 Jason E Burch Mgr Sys Eng 50.00 0.00 X 141727 0 24409 1764304 317999 23 false true false ASPLUNDH 708 BLAIR MILL RD WILLOW GROVE PA 19090 RIGHT OF WAY 5992532 DAVIS H ELLIOTT PO BOX 37251 Baltimore MD 21297 Line Construction 4015671 Augusta Utilities LLC PO Box 8 Verona VA 24482 Underground Line 1561018 POWER SECURE 1609 Heritage Commerce Ct Wake Forest NC 27587 Contractor 1239062 Harman Construction 1024 Pleasant Valley Rd Harrisonburg VA 22801 Construction 997173 16 0 CONTRIB. IN AID OF CONST. 2346656 2346656 PATRONAGE ALLOC. RECEIVED 690056 690056 SALE AND DIST. OF ELECT. 241705827 241705827 244742539 1482239 1482239 0 0 1029724 10839 1018885 1018885 80655 938230 3280393 1169220 2111173 2111173 2111173 0 0 0 0 249354836 246853712 80655 2420469 0 0 0 14566400 1038385 0 16931738 3161760 0 1500771 0 296276 0 0 0 0 0 0 0 0 0 0 2597243 0 96016 12057404 0 17879065 0 COST OF POWER 169244768 DISTRIBUTION MAINTENANCE 9892612 DISTRIBUTION OPERATION 4209995 ADMIN. & GENERAL 3394409 -10610791 246256051 0 0 0 14593840 18553522 28561143 4257 0 23626959 27036577 0 0 0 8962906 8493034 9625439 7691360 510044047 176020075 318749984 334023972 0 0 47332447 50240553 0 756425 770914 452209143 446814189 17903657 18629926 285146196 260850165 9564731 12937936 312614584 292418027 X 139594559 154396162 139594559 154396162 452209143 446814189 X 3098785 11702818 X false true X true false 510044047 176020075 334023972 334023972 50240553 Advance pole rentals 245768 CONSUMER ADVANCES 611318 CONSUMER DEPOSITS 7131746 Other current liabilites 3216804 Wholesale power cost adjustment 1732300 12937936 249951729 2943549 2943549 247008180 2346656 2346656 249354836 231700423 10772 10772 231689651 14566400 14566400 246256051 Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 CASH PATRONAGE RECEIVED CONVERSION $2932777 TOWER EXPENSES NETTED IN REVENUE $10772 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S CONTRIBUTIONS IN AID OF CONSTRUCTION $2346656 Part XII, Line 2d: Other expenses and losses per audited F/S Rental Expenses netted against revenue $10772 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S patronage div credited to members' accts $14566400 X true true X X X X X false false false Greg Rogers VP ENG OP 151628 12500 31474 9548 205150 Jason E Burch Mgr Sys Eng 131727 10000 16781 7628 166136 John Coffey VP Eng Op 153266 15500 42522 9548 220836 Michael W Hastings President & CEO 131151 26295 3978 161424 MYRON RUMMEL RETIRED CEO 380222 30590 6587 9548 426947 Thomas V Beamon VP FIN & ADMIN 182422 19358 1270 203050 Vivian Michael VP HR 134734 16500 59850 9548 220632 Wayne Hannah VP IT 152600 14500 54516 9548 231164 Part I, Line 1a: Relevant information in regards to selections on 1a. Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder SHENANDOAH VALLEY ELECTRIC COOPERATIVE IS AN ELECTRIC MEMBERSHIP COOPERATIVE THAT DELIVERS ELECTRICITY TO THE MEMBERS OF SVEC. Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body 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, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders CERTAIN DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS AS required by state law and THE BYLAWS. Form 990, Part VI, Line 11b: Form 990 Review Process THE PRESIDENT & CEO OR A DESIGNEE WILL REVIEW THE 990 WITH THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts THE COOPERATIVE'S LEGAL COUNSEL ANNUALLY REVIEWS THE CONFLICT OF INTEREST COMPLIANCE AND ENFORCEMENT WITH THE GOVERNING BOARD. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management 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, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees 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, Part VI, Line 19: Other Organization Documents Publicly Available 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. Other Changes In Net Assets Or Fund Balances - Other Decreases Contributions in aid of construction not revenue per gaap = -$2346656 Other Changes In Net Assets Or Fund Balances - Other Increases Net Change in Donated Capital = $169687 Other Changes In Net Assets Or Fund Balances - Other Increases Net increase in memberships = $3240 Other Changes In Net Assets Or Fund Balances - Other Increases noncash patronage capital allocations not revenue per IRS = $2932777 Other Changes In Net Assets Or Fund Balances - Other Increases patronage div. credited to members' accts not exp. per gaap = $14566400 Other Changes In Net Assets Or Fund Balances - Other Decreases Retirement of Capital Credits = -$3622630 990 Part IX Line 17 Travel This line represents all transportation expenses including mileage, gas, and the maintenance costs of all vehicles owned by the Cooperative. 990 Part IX Line 4 Benefits paid to or for members Patronage dividends are paid to members' accounts in accordance with the pre-existing obligation in the Cooperative's by-laws. 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 now reported on line 4. 990 PART VII SECTION A COLUMN F The Cooperative participates in the NRECA group defined pension plan. As part of this plan, participants are required to recognize the actuarial increase in the value of their account on the form 990. The contribution rate for participants in the plan is the same for all individuals in the plan. The change in actuarial value for each participant, however, varies 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.