2011-10-31T07:13:36-05:00 2010-12-31 BUFFAMANTE WHIPPLE BUTTAFARO PC 201 WEST THIRD STREET JAMESTOWN NY 14701 990 2010-01-01 231179011 VALLEY RURAL ELECTRIC COOPERATIVE INC ANCIENT AND HONORABLE WORKERS VALL 8146432650 PO BOX 477 HUNTINGDON PA 166520477 WAYNE MILLER 8146432650 2011-10-31 1 DAVID V DITANNA CPA 7166645104 2010 2016-03-07 17:11:31Z WAYNE MILLER PO BOX 477 HUNTINGDON PA 166520477 31184364 0 X N/A X 1938 PA DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS 9 9 72 0 0 0 0 0 0 0 111301 67799 14315840 13892283 14427141 13960082 0 0 0 0 533231 601798 0 0 0 11711387 11444894 12244618 12046692 2182523 1913390 70665364 75356581 40095956 43769957 30569408 31586624 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 0 0 12046692 13960082 DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF PA ON A COOPERATIVE BASIS. 12046692 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 0 1 20 0 1 72 1 0 0 0 0 0 0 0 0 0 29884546 1299798 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 0 0 1 1 1 1 0 X PAMELA DEVORE 8146432650 PO BOX 477 HUNTINGDON PA 166520477 JAMES STAUFFER 4.00 X 9838 0 0 LEROY BARNES 4.00 X 11588 0 0 KEVIN STATES 4.00 X 9638 0 0 CLAIR MCCALL 4.00 X 8485 0 0 CINDY BIGELOW 4.00 X 13588 0 0 MERVIN BRUMBAUGH 4.00 X 12699 0 0 ROBERT HOLMES 4.00 X 11292 0 0 EARL PARSONS 4.00 X 12691 0 0 DAVID WRIGHT 4.00 X 12388 0 0 WAYNE MILLER 40.00 X X 171384 0 46751 ROBERT WAREHAM 40.00 X X 116231 0 44166 LUANNE ECKENRODE 40.00 X X 108631 0 43001 DAVID HUNTSMAN 40.00 X 103345 0 32811 601798 0 166729 4 0 1 0 B&L TREE SERVICE 924 SIDES ROAD MANNS CHOICE PA 15550 ROW CONTRACTOR 950131 PENN LINE SERVICE 300 SCOTTDALE AVENUE SCOTTDALE PA 15683 ELECTRIC UTILITY CONTRACTOR 322565 OSMOSE UTILITY SERVICES 980 ELLICOTT STREET BUFFALO NY 14209 POLE INSPECTIONS 181788 THE DAVEY TREE EXPERT 1500 N MANTUA STREET KENT OH 44240 SYSTEM MAPPING 166856 4 67799 67799 30271754 17224282 13047472 13047472 PAT CAP FROM ASSOC ORG 221000 813873 813873 MISCELLANEOUS 221000 30938 30938 844811 13960082 13078410 0 881672 601798 1769959 2495461 DISTRIBUTION MAINTENANC 2640828 ADMINISTRATION AND GEN 1880088 DISTRIBUTION OPERATIONS 1201416 CONSUMER ACCOUNTS 882846 SALES 493782 80514 12046692 563599 1323508 40 50 2369227 3426655 64678 41483 564044 572004 196992 187811 88659381 26785378 60089361 61874003 6817423 7931067 70665364 75356581 3521681 3796307 1476928 2698885 33141899 35346253 1955448 1928512 40095956 43769957 X 0 0 1901332 1917923 28668076 29668701 30569408 31586624 70665364 75356581 X 1913390 -896174 X X 0 1 1 X 0 437389 437389 87653562 26785378 60868184 568430 568430 61874003 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 7931067 C 7931067 ACCUMULATED POST RETIREMENT BENEFIT OBLIGATION 1471285 ACCUMULATED PROVISION FOR STORMS 457227 1928512 13960082 12046692 1913390 -896174 -896174 1017216 31184364 17224282 17224282 13960082 0 13960082 29270974 17224282 17224282 12046692 0 12046692 PART XII, LINE 2D - POWER COST PART XIII, LINE 2D - POWER COST PART X, LINE 2 - THE COOPERATIVE 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 2007 AND LATER YEARS. PART XI, LINE 8 - CHANGES IN NET ASSETS RETIREMENT OF CAPITAL CREDITS -912,765 GAIN ON RETIREMENT OF CAPITAL CREDITS 27,881 MEMBERSHIP FEES -11,340 DONATED CAPITAL 50 TOTAL -896,174 X X 0 0 0 WAYNE MILLER 171384 0 0 0 0 0 38016 0 8735 0 218135 0 197675 0 ROBERT WAREHAM 116231 0 0 0 0 0 26842 0 17324 0 160397 0 151335 0 LUANNE ECKENRODE 108631 0 0 0 0 0 24383 0 18618 0 151632 0 0 0 ROBERT HOLMES BOARD OF DIRECTOR 17066876 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 12 KEY EMPLOYEES ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. THE ORGANIZATION IS DEVELOPING A SIMILAR DISCLOSURE FOR OFFICERS AND DIRECTORS OF THE ORGANIZATION THAT WILL BE IMPLEMENTED IN THE NEAR FUTURE. 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 CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: RETIREMENT OF CAPITAL CREDITS -912,765. GAIN ON RETIREMENT OF CAPITAL CREDITS 27,881. MEMBERSHIP FEES -11,340. DONATED CAPITAL 50. TOTAL TO FORM 990, PART XI, LINE 5: -896,174. FORM 990, PART XII, LINE 2C - NO CHANGES IN OVERSIGHT OR SELECTION PROCESS