2015-05-11T07:36:52-05:00 2014-12-31 161117932 BUFFAMANTE WHIPPLE BUTTAFARO PC 201 WEST THIRD STREET JAMESTOWN NY 14701 990 2014-01-01 231179011 VALLEY RURAL ELECTRIC COOPERATIVE INC ANCIENT AND HONORABLE WORKERS VALL 8146432650 PO BOX 477 HUNTINGDON PA 166520477 RICH BAUER PRESIDENT & CEO 8146432650 2015-05-11 1 DAVID V DITANNA CPA P01368498 7166645104 2014 2016-02-25 16:41:14Z RICH BAUER PO BOX 477 HUNTINGDON PA 166520477 35735021 0 X N/A X 1938 PA DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS 9 9 69 0 0 0 0 0 0 0 235771 288614 15709724 16222671 15945495 16511285 0 0 2169078 578314 577514 532416 0 0 0 13198903 13754381 15945495 14865111 0 1646174 87541985 89342216 53394952 53585826 34147033 35756390 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 0 0 14865111 14865111 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 14865111 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 37 0 1 69 1 0 0 0 0 0 0 0 34088296 901197 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X PAMELA DEVORE 8146432650 PO BOX 477 HUNTINGDON PA 166520477 JAMES STAUFFER CHAIRMAN 3.50 X X 11300 0 0 LEROY BARNES VICE PRESIDENT 5.00 X X 9500 0 0 KEVIN STATES SECRETARY 4.20 X X 10700 0 0 CINDY BIGELOW TREASURER 3.40 X X 11000 0 0 MERVIN BRUMBAUGH DIRECTOR 3.80 X 11300 0 0 ROBERT HOLMES DIRECTOR 3.80 X 8700 0 0 COREY BRUMBAUGH DIRECTOR 3.80 X 9700 0 0 GREG HENRY DIRECTOR 3.20 X 10300 0 0 LINDA MCMATH DIRECTOR 5.20 X 12100 0 0 PAM DEVORE MANAGER 40.00 X 111029 0 45204 RICH BAUER CEO/PRESIDENT 40.00 X 216285 0 65298 LUANNE ECKENRODE VP CONSUMER SVCS 40.00 X 133206 0 47653 DAVID HUNTSMAN SUPERVISOR 40.00 X 118189 0 36927 TODD ROSS MANAGER 40.00 X 111847 0 45466 BENJAMIN GORMAN MANAGER 40.00 X 108494 0 42415 WAYNE MILLER FORMER CEO/PRESIDENT 40.00 X 114842 0 6378 1008492 0 289341 10 1 1 0 PENN LINE SERVICES INC PO BOX 280 INDIANA PA 15701 RIGHT OF WAY MAINTENANCE 1013606 B&L TREE SERVICE 924 SIDES ROAD MANNS CHOICE PA 15550 RIGHT OF WAY MAINTENANCE 691844 OSMOSE UTILITY SERVICES 980 ELLICOTT STREET BUFFALO NY 14209 POLE INSPECTIONS 156542 DAVEY TREES 1023 EXECUTIVE DRIVE GIBSONIA PA 15044 PROFESSIONAL TREE SERVICES 135142 4 288614 288614 34833273 19223736 15609537 15609537 PAT CAP FROM ASSOC ORGS 221000 613134 613134 613134 16511285 15609537 0 901748 578314 532416 2095843 3298912 DISTRIBUTION MAINTENANC 3056946 ADMINISTRATION AND GEN 2743089 DISTRIBUTION OPERATIONS 1148358 CONSUMER ACCOUNTS 906754 504479 14865111 1585180 287226 7642 0 3896374 3772679 253432 232397 554751 564908 2509623 4450591 103107844 31781207 70278069 71326637 8456914 8707778 87541985 89342216 4279675 3862451 722920 445322 46092182 46867648 2300175 2410405 53394952 53585826 X 0 0 2754978 5586946 31392055 30169444 34147033 35756390 87541985 89342216 X 1646174 -36817 X 0 1 X 1 0 437389 437389 102236699 31781207 70455492 433756 433756 71326637 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 8657377 C TEMPORARY INVESTMENT - COMMERCIAL PAPER 50401 C 8707778 ACCUMULATED POST RETIREMENT BENEFIT OBLIGATION 1953178 ACCUMULATED PROVISION FOR STORMS 457227 2410405 35735021 19223736 19223736 16511285 0 16511285 33510533 19223736 19223736 14286797 578314 578314 14865111 PART XI, LINE 2D - OTHER ADJUSTMENTS: POWER COST PART XII, LINE 2D - OTHER ADJUSTMENTS: POWER COST PART XII, LINE 4B - OTHER ADJUSTMENTS: CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS PART XII, LINE 4B THE IRS REQUIRES THE ALLOCATION OF CURRENT YEAR MARGINS TO BE REPORTED ON THE STATEMENT OF FUNCTIONAL EXPENSES LINE 4 AS BENEFITS PAID TO OR FOR MEMBERS. UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ALLOCATIONS OF CAPITAL CREDITS ARE NOT SHOWN AS EXPENSES ON THE COOPERATIVE'S STATEMENT OF ACTIVITIES BUT RATHER ARE ALLOCATED TO MEMBERS THROUGH EQUITY. THEREFORE, THE RECONCILIATION ABOVE IS NECESSARY TO SHOW THE DIFFERENCES BETWEEN THE IRS FORM 990 AND THE AUDITED FINANCIAL STATEMENTS. PART X, LINE 2 THE COOPERATIVE IS EXEMPT FROM TAXES IS EXEMPT FROM TAXES ON INCOME PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. CONSEQUENTLY, THE FINANCIAL STATEMENTS REFLECT NO PROVISION FOR TAXES ON INCOME. INCOME TAX RETURNS THAT REMAIN OPEN FOR EXAMINATION BY TAXING AUTHORITIES INCLUDE 2011 AND LATER YEARS. X X 0 0 0 PAM DEVORE MANAGER 111029 0 0 0 0 0 0 0 45204 0 156233 0 0 0 RICH BAUER CEO/PRESIDENT 216285 0 0 0 0 0 37856 0 27442 0 281583 0 0 0 LUANNE ECKENRODE VP CONSUMER SVCS 133206 0 0 0 0 0 23863 0 23790 0 180859 0 0 0 DAVID HUNTSMAN SUPERVISOR 118189 0 0 0 0 0 16374 0 20553 0 155116 0 0 0 TODD ROSS MANAGER 111847 0 0 0 0 0 19836 0 25630 0 157313 0 0 0 BENJAMIN GORMAN MANAGER 108494 0 0 0 0 0 0 0 42415 0 150909 0 0 0 WAYNE MILLER FORMER CEO/PRESIDENT 114842 0 0 0 0 0 4459 0 1919 0 121220 0 0 0 ROBERT HOLMES BOARD OF DIRECTOR 19223736 DIRECTOR IS ALSO A DIRECTOR OF ALLEGHENY ELECTRIC COOPERATIVE, WHICH IS THE WHOLESALE POWER SUPPLIER TO VALLEY RURAL ELECTRIC COOPERATIVE. 0 FORM 990, PART VI, SECTION A, LINE 6 LINE 6 EXPLANATION - MEMBERS OF RURAL ELECTRIC COOPERATIVE ARE CONSUMERS OF ELECTRICITY FORM 990, PART VI, SECTION A, LINE 7A LINE 7A EXPLANATION - GOVERNING BODY IS ELECTED BY MEMBERS BY BALLOT VOTE FORM 990, PART VI, SECTION A, LINE 7B LINE 7B EXPLANATION - A DECISION BY THE GOVERNING BOARD TO DISSOLVE OR DIVERT SUBSTANTIALLY ALL OF THE COOPERATIVE'S PROPERTY AND/OR ASSETS REQUIRES THE AUTHORIZATION BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE. AS STATED IN THE BY-LAWS, MEMBERS CAN ALSO REMOVE A BOARD MEMBER BY MAJORITY VOTE, SUBJECT TO A QUORUM BEING PRESENT. FORM 990, PART VI, SECTION B, LINE 11 LINE 11A EXPLANATION - FORM 990 PROVIDED TO BOARD MEMBERS VIA ELECTRONIC OR PAPER FORMAT BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, EACH DIRECTOR, OFFICER AND KEY EMPLOYEE SHALL COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. ANNUALLY, IT SHALL BE THE RESPONSIBILITY OF THE BYLAW AND POLICY COMMITTEE, WITH ASSISTANCE FROM THE COOPERATIVE ATTORNEY, TO REVIEW ALL FORMS AND REPORT ANY CONFLICTS/POTENTIAL CONFLICTS TO THE BOARD OF DIRECTORS. IT SHALL BE THE RESPONSIBILITY OF THE BOARD OF DIRECTORS TO DETERMINE WHAT, IF ANY, ACTION IS REQUIRED AS A RESULT OF A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 AN OUTSIDE CONSULTANT FROM NRECA PROVIDES THE BENCHMARKS FOR THE DIFFERENT TIERS OF EMPLOYEES. THESE FIGURES ARE PROVIDED TO THE BOARD. THE BOARD THEN REVIEWS THE BENCHMARKS. THE BOARD APPROVES THE CEO/PRESIDENT'S SALARY, WHILE THE CEO/PRESIDENT APPROVES THE DEPARTMENT DIRECTORS' SALARIES BASED ON THE BENCHMARKS AND THE BUDGET APPROVED BY THE BOARD. THESE BENCHMARKS ARE UPDATED EVERY FEW YEARS. FORM 990, PART VI, SECTION C, LINE 18 COPY AVAILABLE AT MAIN OFFICE FORM 990, PART VI, SECTION C, LINE 19 COPY AVAILABLE AT MAIN OFFICE FORM 990, PART XI, LINE 9: MEMBERSHIP FEES -8,275. GAIN ON RETIREMENT OF CAPITAL CREDITS 128,983. RETIREMENT OF CAPITAL CREDITS -735,864. CURRENT YEAR MARGINS TO BE ALLOCATED TO MEMBERS 578,314. DONATED CAPITAL 25.