2011-05-04T14:06:37-05:00 2010-12-31 SUMMERS MCNEA & CO PC 80 25TH STREET WEST BILLINGS MT 591024662 990 2010-01-01 810211565 YELLOWSTONE VALLEY ELECTRIC COOPERATIVE INC YELL 4063483411 PO BOX 249 HUNTLEY MT 590370249 DAN SWARTZ 4063483411 2011-05-03 1 RICHARD A MATUSIAK 4066522320 2011-05-03 2010 2016-02-24 21:20:13Z TERRY HOLZER 150 COOPERATIVE WAY HUNTLEY MT 59034 27615512 0 X YVEC.COM X 1937 MT YELLOWSTONE VALLEY ELECTRIC COOPERATIVE, INC. OPERATES AS AN RURAL ELECTRIC UTILITY ON A NON PROFIT BASIS BY PROVIDING ELECTRICAL POWER AND UTILITY SERVICES TO ITS MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF MONTANA. THE COOPERATIVE IS EXEMPT UNDER SECTION 501 (C) (12) 7 7 57 0 0 0 0 0 24236193 27181156 42573 62145 1098023 372211 25376789 27615512 0 0 0 0 749258 793025 0 0 0 25126561 24924512 25875819 25717537 -499030 1897975 58583777 60479496 43602271 43969533 14981506 16509963 RURAL ELECTRIC COOPERATIVE ESTABLISHED TO PROVIDE ELECTRICAL POWER AND SERVICES TO ITS MEMBERS LOCATED IN THE CENTRAL PORTION OF MONTANA. 0 0 23690971 27405060 COOPERATIVE RESOURCES AND ACTIVITIES ARE RELATED TO PROVIDING ELECTRICAL POWER AND SERVICES TO APPROXIMATELY 13,166 MEMBERS AND PATRONS LOCATED IN THE CENTRAL PORTION OF THE STATE OF MONTANA. 23690971 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 32 0 57 1 0 0 0 0 0 0 0 28034738 223904 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X TRISH RUGG 4063483411 150 COOPERATIVE WAY HUNTLEY MT 59037 DAVE KELSEY 12.00 X 27540 0 0 DANIEL R SWARTZ 4.00 X X 18565 0 0 RICHARD A WELDON 5.00 X X 13125 0 0 MARLENE AMEN 9.00 X X 14411 0 0 JWILLIAM KELLER 4.00 X 11317 0 0 LARRY KAUFMAN 6.00 X X 12693 0 0 RONALD OHLIN 5.00 X 14169 0 0 TERRY HOLZER 40.00 X X 147456 0 4225 BRANDON J WITTMAN 40.00 X 114660 0 35560 TRISH CASTILLO RUGG 40.00 X 60013 0 20439 433949 0 60224 2 0 1 0 NORTHWESTERN ENERGY LL 40 E BROADWAY BUTTE MT 59701 PLANT CONSTRUCTION 302774 NISC PO BOX 1147 MANDAN ND 58554 GENERAL AND MONTHLY COMPUTER SEVICES 188851 ALTEC INDUSTRIES PO BOX 8688 KALISPELL MT 59904 GENERAL PLANT BUCKET TRUCK 160778 GLOBAL RENTAL CO PO BOX 11407 BIRMINGHAM AL 35246 GENERAL PLANT BUCKET TRUCK 158598 CRIST KROGH & NORD LLC 2708 1ST AVENUE N BILLINGS MT 59101 LEGAL FEES 116080 6 UTILITIES & SERVICES 221000 27181156 27181156 27181156 62145 62145 44599 44599 44599 44599 WAPA WHEELING CREDIT 221000 165853 165853 CAPITAL CREDITS ALLOC 221000 159260 159260 MECHANDISING 221000 2499 2499 327612 27615512 27405060 0 210452 494163 494163 303265 303265 -4403 -4403 157786 157786 13500 13500 128 128 69300 69300 34115 34115 2156299 2068704 87595 1746639 1567259 179380 21611 21611 COST OF POWER 15642511 15642511 DISTRIBUTION OPERATIONS 2329596 2329596 DISTRIBUTION MAINTENANC 952244 952244 CONSUMER ACCOUNTS 649951 649951 CUSTOMER SERVICE & INFO 311311 311311 839521 169395 670126 25717537 23690971 2026566 0 185584 108099 473268 2112642 2187102 1297812 1298761 548503 558183 2636 38650 69055524 20799766 46902478 48255758 91811 142662 7192363 7260423 249948 156590 58583777 60479496 3010204 3114204 39908896 40147268 683171 708061 43602271 43969533 X 136000 139000 37732 37732 14807774 16333231 14981506 16509963 58583777 60479496 X 1897975 -369518 X X 0 1 1 X 0 175291 340575 515866 2641865 337810 2304055 4280920 3833738 447182 61616873 16628218 44988655 48255758 CFC TERM CERTIFICATES 640927 C CFC & FEDERATED PATRONAGE ALLOCATION 304639 C SOUTHERN MONTANA PATRONAGE & CAPITAL INVESTMENT 5963074 C INVESTMENTS IN ASSOCIATED ORGANIZATIONS 28089 C CO BANK PATRONAGE ALLOCATION 281056 C NISC PATRONAGE ALLOCATION 42638 C 7260423 CONSUMER DEPOSITS 153118 CONSUMER ENERGY PREPAYMENTS 96725 OTHER SPECIAL FUNDS 2640 CAPITAL CREDIT PAYABLE 260286 OBLIGATIONS UNDER CAPITAL LEASES 195292 708061 27615512 25717537 1897975 -369518 -369518 1528457 28469094 853582 853582 27615512 0 27615512 25717537 0 25717537 0 25717537 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THERE ARE NO UNCERTAIN TAX POSITIONS EXISTING AT DECEMBER 31, 2010. PART XI, LINE 8 - OTHER ADJUSTMENTS: RETIREMENT OF CAPITAL CREDITS INCREASE IN MEMBERSHIP DEPOSIT PART XII, LINE 2D - OTHER ADJUSTMENTS: CONTRIBUTIONS IN AID OF CONSTRUCTION RECEIVED FROM MEMBERS PART VI-LINE 1E-OTHER PROPERTY- INCLUDES TRANSMISSION POLES, WIRE AND STATION EQUIPMENT TOTALING $8,072,572; DISTRIBUTION PLANT OF POLES, WIRES, STATION EQUIPMENT, METERS AND TRANSFORMERS TOTALING $52,058,870 AND CONSTRUCTION WORK IN PROGRESS TOTALING $1,485,431. 1 X X 0 0 0 DAVE KELSEY 27540 0 0 0 0 0 0 0 0 0 27540 0 0 0 DANIEL R SWARTZ 18565 0 0 0 0 0 0 0 0 0 18565 0 0 0 RICHARD A WELDON 13125 0 0 0 0 0 0 0 0 0 13125 0 0 0 MARLENE AMEN 14411 0 0 0 0 0 0 0 0 0 14411 0 0 0 JWILLIAM KELLER 11317 0 0 0 0 0 0 0 0 0 11317 0 0 0 LARRY KAUFMAN 12693 0 0 0 0 0 0 0 0 0 12693 0 0 0 RONALD OHLIN 14169 0 0 0 0 0 0 0 0 0 14169 0 0 0 TERRY HOLZER 147456 0 0 0 0 0 4225 0 0 0 151681 0 0 0 BRANDON J WITTMAN 114660 0 0 0 0 0 35560 0 0 0 150220 0 0 0 TRISH CASTILLO RUGG 60013 0 0 0 0 0 20439 0 0 0 80452 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS 13,166 VOTING MEMBERS AT DECEMBER 31, 2010. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS ELECT TWO OR THREE BOARD OF DIRECTORS TO SERVE A THREE YEAR TERM AT THE COOPERATIVE ANNUAL MEETING HELD IN MARCH OF EACH YEAR. FORM 990, PART VI, SECTION A, LINE 7B ALL BYLAW CHANGES RECOMMENDED BY THE BOARD OF DIRECTORS ARE APPROVED AND RATIFIED BY THE MAJORITY OF MEMBERSHIP AT THE COOPEATIVE ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED AND APPROVED BY THE GENERAL MANAGER, THE BOARD PRESIDENT AND SECRETARY/TREASURER PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE CONFLICT OF INTEREST POLICY IS INCLUDED IN THE ORGANIZATION POLICY HANDBOOK. ALL TRUSTEES MUST DISCLOSE ANNUALLY IN WRITING TO THE BOARD ANY SITUATION OR TRANSACTION IN WHICH THE TRUSTEE IS INVOLVED WHICH VIOLATES OR COULD APPEAR TO VIOLATE THE INTENT OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 MONTANA STATEWIDE ORGANIZATION -MONTANA ELECTRIC COOPERATIVE ASSOCIATION (MECA) AND THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) PERFORMS AN ANNUAL SALARY SURVEY BY JOB CLASSIFICATION. THE BOARD OF DIRECTORS MAKES USE OF THESE SALARY SURVEYS FROM MECA AND NRECA TO DETERMINE THE SALARY GUIDELINES FOR THE GENERAL MANAGER SALARY. THE GENERAL MANAGER USES THESE SALARY SURVEYS TO DETERMINE THE RANGE OF SALARIES FOR THE ADMINISTRATIVE PERSONNEL. THE COOPERATIVE LINEMEN SALARIES ARE ESTABLISHED BY A SIGNED COLLECTIVELY BARGAINED UNION CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES, FINANCIAL REPORTS-RUS FORM 7- AND FORM 990 ARE AVAILABLE UPON REQUEST AT THE COOPERATIVE HEADQUARTER OFFICE. IN ADDITION, EACH NEW MEMBER IS PROVIDED WITH A COPY OF YELLOWSTONE VALLEY ELECTRIC COOPERATIVE'S BY LAWS. ALSO THE STATEMENT OF FINANCIAL CONDITION IS SENT OUT YEARLY TO ALL MEMBERS IN THE ANNUAL MEETING NOTICE PRIOR TO THE ANNUAL MEETING HELD IN MARCH OF EACH YEAR. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: RETIREMENT OF CAPITAL CREDITS -372,518. INCREASE IN MEMBERSHIP DEPOSIT 3,000. TOTAL TO FORM 990, PART XI, LINE 5: -369,518. THE BOARD OF DIRECTORS REQUIRE A FORMAL THREE YEAR AUDIT ENGAGEMENT LETTER CONTRACT FIXING THE ANNUAL AUDIT FEE AND PERFORMS OVERSIGHT OVER THE AUDIT. IN ADDITION, THE AUDITOR IS REQUIRED TO FORMALLY PRESENT THE AUDIT AND ANY FINDINGS TO THE BOARD OF DIRECTORS. ALSO, THE BOARD OF DIRECTORS REQUEST THAT THE AUDITOR PRESENT THE COOPERATIVE STATEMENT OF FINANCIAL CONDITION TO ITS MEMBERSHIP AT THE ANNUAL MEETING HELD IN MARCH OF EACH YEAR.