2016-11-15T16:11:11-06:00 2015-12-31 750882037 BOLINGER SEGARS GILBERT AND MOSS LLP 8215 NASHVILLE AVENUE LUBBOCK TX 79423 990 2015-01-01 840358317 YAMPA VALLEY ELECTRIC ASSOCIATION YAMP 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 DIANE C JOHNSON PRESIDENT & GENERAL MANAGER 9708791160 2016-11-15 1 William M Miller P00439459 8067473806 2016-11-15 X 2015 2017-02-10 21:41:12Z DIANE C JOHNSON 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 56043890 0 X WWW.YVEA.COM X 1940 CO PROVIDE ELECTRICAL SERVICE TO 21,309 METERS IN OUR DESIGNATED SERVICE TERRITORY. 9 9 73 0 0 0 0 0 53918176 53064221 57588 2739628 281223 52899 54256987 55856748 0 18198 1108861 2668688 6407176 5973192 0 0 0 46740950 44413935 54256987 53074013 0 2782735 101463429 103331622 34988616 32426453 66474813 70905169 YAMPA VALLEY ELECTRIC ASSOCIATION IS COOPERATIVE THAT PROVIDES VALUE TO ITS MEMBER-OWNERS BY DELIVERING SAFE AND RELIABLE ELECTRIC SERVICE IN AN ENVIRONMENTALLY AND FINANCIALLY RESPONSIBLE MANNER. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 21,309 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 36 0 73 1 0 0 0 0 0 0 0 53855075 2951815 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 1 0 X X DIANE C JOHNSON PRESIDENT & GENERAL MANAGER 9708791160 2211 ELK RIVER ROAD STEAMBOAT SPRINGS CO 80487 X QUENTIN DEAN BROSIOUS CHAIRMAN 8.85 X X 21795 0 0 PATRICK MCCLELLAND VICE CHAIRMAN 6.92 X X 22385 0 0 SCOTT MCGILL DIRECTOR 19.05 X 27100 0 0 GEORGE RUSSELL GARRITY DIRECTOR 3.88 X 16200 0 0 FRANKLYN W ROITSCH DIRECTOR 5.15 X 20435 0 0 GLYNDA S SHEEHAN DIRECTOR 5.54 X 17330 0 0 THOMAS FOX DIRECTOR 6.48 X 26126 0 0 JAMES MICHAEL BRINKS DIRECTOR 7.29 X 17765 0 0 LARRY ELLGEN DIRECTOR 3.65 X 15455 0 0 DIANE JOHNSON CEO 60.00 X 247696 0 62610 STEVE JOHNSON COO 52.00 X 146824 0 60426 AMY MAHON CFO 50.00 X 107625 0 39329 KATHY BERTRAND MEMBER RELATIONS MANAGER 40.00 X 148636 0 75959 KELLI ROOT SYSTEMS ANALYST 40.00 X 133849 0 47538 EDDIE PIERCE PURCHASING AGENT 40.00 X 128155 0 68566 JOHN CROMER CREW CHIEF 40.00 X 129384 0 44461 LARRY BALL STAKING/FIELD ENGINEER 40.00 X 122849 0 56399 1349609 0 455288 23 0 1 0 MASTEC NORTH AMERICA INC 3690 STAGECOACH RD LONGMONT CO 80504 CONTRACT LABOR 2135037 UTILITY SALES & SERVICE 9771 NWOT RD LONGMONT CO 80504 CONTRACT METER READING 528774 WARD ELECTRIC CO INC 3690 STAGECOACH RD LONGMONT CO 80504 CONTRACT LABOR 477723 HIGH VOLTAGE INC PO BOX 428 VERNAL UT 84078 CONTRACT LABOR 462278 ROGUE RESOURCES PO BOX 772503 STEAMBOAT SPRINGS CO 80477 CONTRACT LABOR 320169 11 X ELECTRIC ENERGY 221000 52376884 52376884 MIS SERVICE FEES & SALES 221000 361741 361741 PATRONAGE DIVIDENDS 221000 203856 203856 OTHER PROGRAM REVENUE 221000 121740 121740 53064221 56046 56046 2870724 187142 2683582 2683582 2683582 POLE ATTACHMENT INCOME 221000 52899 52899 52899 55856748 53064221 0 2792527 X 18198 2668688 849101 3258387 426473 1170871 268360 595861 4272935 COST OF PURCHASED POWER 33384045 DISTRIBUTION EXPENSE 2685608 ADMIN AND GENERAL 1839706 CONSUMER EXPENSES 1361224 274556 53074013 3693133 1577668 3202783 3433040 774311 851818 429129 2516 144262173 53598370 85914741 90663803 3467252 3481073 3982080 3321704 101463429 103331622 10129596 9352404 21520304 20377220 3338716 2696829 34988616 32426453 X 0 0 0 0 66474813 70905169 66474813 70905169 101463429 103331622 X 2782735 1647621 X X 0 1 X 0 0 5332895 5332895 8740582 1235524 7505058 129648151 52362846 77285305 540545 540545 90663803 CUSTOMER ADVANCES FOR CONSTRUCTION 1350042 OTHER ADVANCES 372996 DEFERRED COMPENSATION 397121 CONSUMER DEPOSITS AND PREPAYMENTS 576670 2696829 X 55697958 0 55697958 158790 158790 55856748 50246535 0 50246535 2827478 2827478 53074013 Part X, Line 2: THE ASSOCIATION AND YVSI FOLLOW 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 4b - Other Adjustments: NONOPERATING EXPENSES RECLASSIFIED TO FORM 990 PART IX MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990 PART IX Part XII, Line 4b - Other Adjustments: PATRONAGE CAPITAL ASSIGNABLE NONOPERATING EXPENSES RECLASSED TO FORM 990 PART IX MERCHANDISING EXPENSE RECLASSIFIED TO FORM 990, PART IX SCHEDULE D FOR THE AUDITED FINANCIAL STATEMENTS, THE AMOUNT OF PATRONAGE DIVIDENDS PAID OR 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 COOPERATIVE 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 COOPERATIVE'S BYLAWS. 0 YAMPA VALLEY SUSTAINABILITY COUNCIL PO BOX 881461 STEAMBOAT SPRINGS CO 80488 264753602 501(c)(3) 10000 2015 CENSIBLE ENERGY FD DONATION SCHEDULE I, PART II ALL GRANTS, SPONSORSHIPS AND DONATIONS ARE MADE TO NON-PROFIT AND CIVIC ORGANIZATIONS THAT ARE LOCATED IN THE COOPERATIVE'S SERVICE AREA. ALL DONATIONS ARE INTENDED TO IMPROVE THE COMMUNITIES IN WHICH OUR MEMBERS RESIDE. X 0 0 X 0 0 0 DIANE JOHNSON CEO 207925 0 15000 0 24771 0 35368 0 27242 0 310306 0 0 0 STEVE JOHNSON COO 143934 0 2000 0 890 0 36001 0 24425 0 207250 0 0 0 KATHY BERTRAND MEMBER RELATIONS MANAGER 111859 0 2000 0 34777 0 47967 0 27992 0 224595 0 0 0 KELLI ROOT SYSTEMS ANALYST 106331 0 0 0 27518 0 35550 0 11988 0 181387 0 0 0 EDDIE PIERCE PURCHASING AGENT 93135 0 0 0 35020 0 40007 0 28559 0 196721 0 0 0 JOHN CROMER CREW CHIEF 109619 0 0 0 19765 0 16211 0 28250 0 173845 0 0 0 LARRY BALL STAKING/FIELD ENGINEER 90008 0 0 0 32841 0 34621 0 21778 0 179248 0 0 0 FORM 990, 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. DIANE JOHNSON ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $26,568 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,800 TOTAL REPORTED IN COLUMN C: $35,368 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (26,568) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 38,379 EXPENSE TO THE COOPERATIVE $47,179 STEVE JOHNSON ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $31,470 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,531 TOTAL REPORTED IN COLUMN C: $36,001 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (31,470) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 38,472 EXPENSE TO THE COOPERATIVE $43,003 AMY MAHON ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,332 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,788 TOTAL REPORTED IN COLUMN C: $10,120 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (6,332) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 11,464 EXPENSE TO THE COOPERATIVE $15,252 KATHY BERTRAND ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $43,174 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,793 TOTAL REPORTED IN COLUMN C: $47,967 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (43,174) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 50,261 EXPENSE TO THE COOPERATIVE $55,054 KELLI ROOT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $31,127 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,423 TOTAL REPORTED IN COLUMN C: $35,550 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (31,127) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 37,509 EXPENSE TO THE COOPERATIVE $41,932 EDDIE PIERCE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $35,825 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,182 TOTAL REPORTED IN COLUMN C: $40,007 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (35,825) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 41,936 EXPENSE TO THE COOPERATIVE $46,118 JOHN CROMER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $12,156 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,055 TOTAL REPORTED IN COLUMN C: $16,211 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (12,156) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 18,325 EXPENSE TO THE COOPERATIVE $22,380 LARRY BALL ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $30,645 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,976 TOTAL REPORTED IN COLUMN C: $34,621 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (30,645) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 19,773 EXPENSE TO THE COOPERATIVE $23,749 FORM 990, PART I, LINES 15 & 17 THE COOPERATIVE PREVIOUSLY INCLUDED ALL LABOR COSTS AS COMPONENTS OF OTHER FUNCTIONAL EXPENSES USED FOR NORMAL FINANCIAL REPORTING. ACCORDINLY, NO AMOUNTS WERE REPORTED FOR COMPENSATION ON LINE 15 FOR THE 2014 CALENDAR YEAR. HOWEVER, FOR THE 2015 CALENDAR YEAR, THE COOPERATIVE BEGAN SEPARATELY STATING THE TOTAL OF ALL LABOR COST EXPENSED TO THE INCOME STATEMENT FOR FORM 990 REPORTING PURPOSES. TO INCREASE CONSISTENCY, LABOR COSTS OF $6,407,176 WERE RECLASSIFIED FROM LINE 17 "OTHER EXPENSES" RESULTING IN A COMPARATIVE LINE 15 TOTAL OF $6,407,176. Form 990, Part VI, Section A, line 6 THE COOPERATIVE 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 COOPERATIVE 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 COOPERATIVE. 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE; 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION; 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS; 4. AMENDMENT TO THE ARTICLES OF INCORPORATION; 5. AMENDMENT TO THE BYLAWS Form 990, Part VI, Section B, line 11 THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR ANY DISCUSSION OR COMMENT. Form 990, Part VI, Section B, line 15 THE BOARD OF DIRECTORS ANNUALLY EVALUATES AND SETS THE COMPENSATION OF THE CEO. THE CEO AND BOARD OF DIRECTORS USES A COMPENSATION SURVEY WHEN DETERMINING THE COMPENSATION OF THE ORGANIZATION'S EMPLOYEES MEETING THE DEFINITION OF OFFICER AND KEY EMPLOYEE, IF ANY. THE SURVEY INCLUDES SALARIES FROM SIMILAR COOPERATIVES THROUGHOUT COLORADO AND THE NATION. Form 990, Part VI, Section C, line 19 THE COOPERATIVE 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 COOPERATIVE PROVIDES A COPY OF THE AUDITED BALANCE SHEET AND INCOME STATEMENT TO THE MEMBERS OF THE COOPERATIVE WITH THE ANNUAL REPORT. FINALLY, THE BYLAWS CAN BE FOUND ON THE COOPERATIVE'S WEBSITE. FORM 990, PART VI, LINE 1 THE COOPERATIVE HAS 9 BOARD MEMBERS; ALL 9 ARE ALLOWED TO VOTE, HOWEVER THE BOARD PRESIDENT VOTES ONLY IN THE CASE OF A TIE. FORM 990, PART VII, COLUMN F IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE 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 COOPERATIVE 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 OFFICERS AND HIGLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH, DENTAL AND LIFE INSURANCE TO ALL ELIGIBLE EMPLOYEES , INCLUDING OFFICERS, THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS 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 COOPERATIVE TO ITS MEMBERS. FORM 990, PART IX THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS AS PRESCRIBED FOR ELECTRIC BORROWERS OF THE RURAL UTILITIES SERVICES (RUS). THE UNIFORM SYSTEM OF ACCOUNTSS 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 UNIFORM SYSTEM OF ACCOUNTS. ON THE 2015 FORM 990, PART I, LINE 15, THE COOPERATIVE SEPARATELY STATED SALARIES AND WAGES, EMPOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH THEIR ACCOUNTING SYSTEM. ON THE 2014 RETURN THE COOPERATIVE DID NOT SEPARATELY STATE THESE EXPENSES. THE 2014 RETURN IS COMPLETE AND ACCURATE, BUT THE COOPERATIVE BELIEVES BY SEPARATELY STATING THESE EXPENSES ON THE 2015 RETURN A READER OF THE FORM 990 WILL BE MORE INFORMED. FUTURE YEARS RETURNS FILED BY THE COOPERATIVE WILL SEPARATELY STATE SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES AND THE COMPARISON ON PAGE 1 WILL BE MORE MEANINGFUL. Form 990, Part IX, Line 24 ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: OFFICE SUPPLIES EXPENSE $ 270,289 EMPLOYEE TRAINING AND BENEFITTS 217,791 INJURIES AND DAMAGES 95,658 OUTSIDE SERVICES 382,294 INSURANCE AND REGULATORY FEES 77,486 PUBLIC RELATIONS 17,385 ASSOCIATED ORGANIZATION DUES 164,317 DIRECTOR EXPENSE 64,506 MISCELLANEOUS GENERAL EXPENSE 8,778 MAINTENANCE OF GENERAL PLANT 541,202 TOTAL ADMINISTRATIVE AND GENERAL EXPENSE PER 990 $1,839,706 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 $4,107,488 LESS DIRECTORS FEES REPORTED ON 1099-MISC (184,591) LESS EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (162,365) PLUS SALARIES AND WAGES ALLOCATED TO NONOPERATING MARGIN 23,745 PLUS SALARIES AND WAGES CAPITALIZED DIRECTLY TO PLANT 1,069,290 PLUS SALARIES AND WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING AND OTHER ACCOUNTS 1,437,724 TOTAL WAGES ACCRUED AND/OR PAID $6,291,291 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 COOPERATIVE ALLOCATES PATRONAGE CAPITAL TO AND, THEREFORE, OPERATES AT COST WITH ITS PATRONS. THE COOPERATIVE'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 COOPERATIVE 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 COOPERATIVE'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 COOPERATIVE'S 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 COOPERATIVE FOR THE 2015 CALENDAR YEAR. BECAUSE PATRONAGE DIVIDENDS ARE THE PROCESS BY WHICH THE COOPERATIVE OPERATES AT COST WITH ITS PATRONS AND THEREBY A KEY COMPONENT TO ACCOMPLISHING ITS EXEMPT PURPOSE, THE COOPERATIVE 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 XI, line 9: DONATED CAPITAL 12,762. NET CHANGE IN OTHER EQUITIES 162,552. OTHER CAPITAL CREDITS 310,041. PATRONAGE CAPITAL ASSIGNABLE 2,668,688. PATRONAGE CAPITAL RETIRED -1,520,818. PATRONAGE CAPITAL RETIRED - DISCOUNT 14,396. Form 990, Part XII, Line 2c THE BOARD AS A WHOLE IS RESPONSIBLE FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT AND SELECTING THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. 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 ASSOCIATIN 1 YAMPA VENTURE SERVICES INC PO BOX 771218 STEAMBOAT SPRINGS CO 80477 841537973 TELECOMMUNICATIONS CO YAMPA VALLEY ELECTRIC ASSN C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 YAMPA VENTURE SERVICES INC O N/A LESS THAN $50,000 YVEA CARING CONSUMERS FOUNDATION O N/A LESS THAN $50,000 YVEA CARING CONSUMERS FOUNDATION N N/A LESS THAN $50,000