2025-11-13T16:42:10+00:00 2024-12-31 440160260 Forvis Mazars LLP PO Box 3667 Little Rock AR 722033667 990 2024-01-01 730171526 Canadian Valley Electric Cooperative Inc CANA 4053823680 11277 N HWY 99 SEMINOLE OK 74868 JOSH HOLT INTERIM CEO 4053823680 2025-11-13 true true Amber Sherrill P00748683 5013721040 2025-11-13 2024 2025-03-06 01:10:19Z JOSH HOLT 11277 N HWY 99 SEMINOLE OK 74868 91023320 false X WWW.MYCVEC.COOP X 1939 OK TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. 8 8 111 8 -2498168 0 0 0 83885264 83698016 952209 835365 -6339383 -2672354 78498090 81861027 0 0 4681415 5532412 6346310 6102055 0 0 0 75785328 77101533 86813053 88736000 -8314963 -6874973 228017097 241288669 147636170 155456510 80380927 85832159 TO PROVIDE RETAIL ELECTRIC UTILITY SERVICE TO COOPERATIVE MEMBERS ON A NOT-FOR-PROFIT BASIS, PRIMARILY IN RURAL AREAS. false false To provide retail electric utility service to cooperative members on a not-for-profit basis, primarily in rural areas. 0 false false false false false false false false false false true false true false true false false true 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 true true true false false true 20 0 true 111 true true true false false false false 81088211 8391336 false false false X 8 8 false false false false true true true true true false false false true true true true true true true true false false X JAMIE SCOTT 4053823680 11277 N HWY 99 SEMINOLE OK 74868 Jesse Snyder Board Trustee - Treasurer 5.0 0.0 X X 16953 0 0 Joe Semtner Board Trustee - President 18.0 0.0 X X 16855 0 0 Robert Schoenecke Board Trustee - Secretary 6.0 0.0 X X 16735 0 0 Yates Adcock Board Trustee - Vice President 5.0 0.0 X X 14500 0 0 Clayton Eads Board Trustee 10.0 0.0 X 15646 0 0 JP Duvall Board Trustee 5.0 0.0 X 12913 0 0 Matt Goodson Board Trustee 18.0 0.0 X 16355 0 0 Steve Marak Board Trustee 18.0 0.0 X 17255 0 0 Gary Highley CEO 44.0 0.0 X 315628 0 69938 Jamie Scott Manager of Finance 44.0 0.0 X 152464 0 47800 Josh Holt COO 49.0 0.0 X 178934 0 51877 Don Pak Manager of IT 47.0 0.0 X 142218 0 46569 Jake Smith Area Serviceman 59.0 0.0 X 136806 0 36260 Logan Azlin Area Serviceman 54.0 0.0 X 147758 0 39155 Russell Pritchett GIS Supervisor 42.0 0.0 X 152237 0 42413 Sheila Allgood General Manager of Broadband 42.0 0.0 X 161899 0 42063 1515156 0 376075 30 false true false BENTON TECHNICAL SERVICES PO BOX 874654 KANSAS CITY MO 64187 FIBER LINE CONSTRUCTION 5998615 P & F EngineeringConstruction 25472 S 4110 Rd Claremore OK 74019 Fiber Construction 3110421 RIGGS TREE SERVICE PO BOX 453225 GROVE OK 74345 RIGHT OF WAY TRIMMING 2333362 FORCE ELECTRICAL SERVICES PO BOX 1288 WOODWARD OK 73802 UTILITY CONSTRUCTION 2268617 Exodus Energy LLC 7803 N Kickapoo Ave Shawnee OK 74804 Utility Construction 1735760 9 0 0 0 0 0 0 0 0 SALES OF ELECTRIC ENERGY 221100 80389148 80389148 0 0 G&T CAPITAL CREDITS 221100 2609805 2609805 0 0 OTHER CAPITAL CREDITS 221100 699063 699063 0 0 0 0 0 0 83698016 835365 0 391186 444179 0 0 0 0 0 0 0 0 2729991 205773 9126617 0 -6396626 205773 -6190853 0 -6396626 205773 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 46903 35676 11227 0 0 11227 MANAGEMENT FEES FROM CVEC FIBER 540000 2169272 0 2169272 0 GRANTS FOR FIBER BUILDOUT 900099 1338000 0 1338000 0 0 0 0 0 3507272 81861027 83698016 -2498168 661179 0 0 0 5532412 943853 0 4004015 -10341 747597 416931 0 200773 119382 0 0 0 2957308 0 166338 753828 0 145403 954543 0 115472 6146077 0 5380536 2025383 COST OF ELECTRIC POWER 54483905 TAXES 1616242 TOOLS & LINES MATERIALS 833098 DUES & SUBSCRIPTIONS 344074 859171 88736000 1000 338552 80888 6495 0 0 16307070 14289731 0 0 0 0 0 0 12349755 5559395 32798 34835 239145787 68953781 151924921 170192006 0 0 0 35657963 41360476 0 0 11662702 9507179 228017097 241288669 10277971 9919577 0 0 0 0 0 0 0 0 0 0 130891192 139459717 0 0 6467007 6077216 147636170 155456510 0 0 0 0 X 0 0 0 0 80380927 85832159 80380927 85832159 228017097 241288669 X -6874973 0 0 0 0 12326205 X false true true false 0 109712 109712 0 11858259 4829885 7028374 0 0 0 0 0 212545671 64123896 148421775 0 14632145 0 14632145 170192006 ARK ELECTRIC-PATRONAGE CAPITAL 866918 C NRUCFC-PATRONAGE CAPITAL 44921 C WESTERN FARMERS-PATRONAGE CAPITAL 37238140 C NISC-PATRONAGE CAPITAL 217934 C FEDERATED-EQUITY ACCOUNT ALLOCATION 278830 C NRTC-MEMBERSHIP 15267 C COBANK-MEMBERSHIP & PATRONAGE 372804 C NRUCFC-CAP. TERM CERTIFICATES 814662 C NRUCFC-MEMBER CERTIFICATES 1000 C CVEC FIBER SUB 1510000 C 41360476 Federal Income Taxes CONSUMER DEPOSITS 5150731 POST RETIREMENT BENEFIT OBLIGATION 926485 6077216 90068227 0 0 0 11714472 11714472 78353755 0 3507272 3507272 81861027 84535815 0 0 0 2670227 2670227 81865588 0 6870412 6870412 88736000 Schedule D, Part X, Line 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 INCOME FROM SUBSIDIARY - 2587855 TAX DEPRECIATION ON FIBER LEASE ASSETS - 9126617 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements MANAGEMENT FEES - 2169272 GRANTS FOR FIBER SUB - 1338000 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 BOOK DEPRECIATION ON FIBER LEASE ASSETS - 2670227 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements PATRONAGE CAPITAL ASSIGNED TO MEMBERS - 5532412 GRANTS FOR FIBER SUB - 1338000 X X X X false false false Gary Highley CEO 309737 0 1660 0 4231 0 41569 0 28369 0 385566 0 0 0 Josh Holt COO 176296 0 1774 0 864 0 24934 0 26943 0 230811 0 0 0 Jamie Scott Manager of Finance 150211 0 1774 0 479 0 21201 0 26599 0 200264 0 0 0 Sheila Allgood General Manager of Broadband 156774 0 1774 0 3351 0 22231 0 19832 0 203962 0 0 0 Russell Pritchett GIS Supervisor 113489 0 1774 0 36974 0 16198 0 26215 0 194650 0 0 0 Logan Azlin Area Serviceman 145765 0 1774 0 219 0 13310 0 25845 0 186913 0 0 0 Don Pak Manager of IT 139403 0 1774 0 1041 0 20064 0 26505 0 188787 0 0 0 Jake Smith Area Serviceman 134936 0 1774 0 96 0 10749 0 25511 0 173066 0 0 0 Form 990, Part VI, Line 15 A&B COMPENSATION SURVEYS BASED ON FIGURES FROM ALL ELECTRIC DISTRIBUTION COOPERATIVE HEADQUARTERS IN OKLAHOMA ARE USED TO DETERMINE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES, AS WELL AS A SALARY STUDY FROM AN INDEPENDENT CONSULTANT. THE INDEPENDENT CONSULTANTS LAST STUDY WAS CONDUCTED IN JUNE 2024. Form 990, Part VI, Line 6 Classes of members or stockholders ELECTRIC UTILITY IS MEMBER OWNED. TRUSTEES ARE ELECTED BY THE MEMBERSHIP TO SERVE THREE YEAR TERMS. ANY MEMBER MAY FILE TO STAND FOR ELECTION BY FILING A NOTICE OF INTENT TO STAND FOR ELECTION DURING THE PUBLISHED FILING PERIOD. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body MEMBERS VOTE WITHIN THEIR DISTRICT TO APPOINT THE BOARD MEMBER TO REPRESENT THEM. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders CHANGES TO THE BYLAWS ARE SUBJECT TO APPROVAL BY THE MEMBERS. MEMBERS MAY ALSO PETITION FOR REMOVAL, FOR JUST CAUSE, OF TRUSTEES OR OFFICERS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE MANAGER OF FINANCE, CEO, AND THE BOARD OF TRUSTEES REVIEW THE FORM 990 BEFORE IT IS FILED. Form 990, Part VI, Line 12c Conflict of interest policy THE CONFLICT-OF-INTEREST POLICY IS REVIEWED REGULARLY, AND WRITTEN SURVEYS ARE COLLECTED FROM EACH TRUSTEE ANNUALLY. AFTER DISCLOSURE OF ANY CONFLICTS, THE CEO MAY CONSULT WITH THE ATTORNEY OF CVEC AND/OR SUBMIT THE ISSUE TO THE BOARD OF TRUSTEES. THE CEO, IF APPROPRIATE, MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR AGREEMENT. AFTER EXERCISING DUE DILIGENCE, THE CEO SHALL DETERMINE WHETHER CVEC CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST AND IF AN ALTERNATIVE CANNOT BE FOUND WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST OF CVEC. Form 990, Part VI, Line 19 Required documents available to the public THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VIII, Line 6a PERSONAL PROPERTY RENTAL REVENUES EXCLUDED FROM UNRELATED BUSINESS INCOME ARE RELATED TO POLE RENTAL INCOME. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN MEMBERSHIPS - -115308; CHANGE IN DONATED CAPITAL - 32903; BENEFIT PLAN - 1225; MANAGEMENT FEES - -2169272; BOOK TO TAX DEPRECIATION DIFFERENCE - 6456390; PATRONAGE CAPITAL ASSIGNABLE - 5532412; EQUITY IN EARNINGS OF SUBSIDIARY - 2587855; Total - 12326205; CVEC FOUNDATION INC 11277 N HWY 99 SEMINOLE OK 74868 731553974 GRANTS OK 501(c)(3) 10 CVEC true CVEC FIBER LLC 11277 N HWY 99 SEMINOLE OK 74868 853139492 FIBER OK CVEC C Corporation 11759912 13114473 1 true true false false true false false false false false true false false false false true false false true false CVEC FIBER LLC A 3121177 FMV CVEC FIBER LLC O 2169272 FMV