2021-11-15T17:26:00-06:00 2020-12-31 BDO USA LLP 3601 C STREET STE 600 ANCHORAGE AK 99503 990 2020-01-01 920014712 Golden Valley Electric Association Inc % RONALD E WOOLF GVEA GOLD 9074521151 758 Illinois St Fairbanks AK 99707 Ronald E Woolf CFO & VP of Finance 9074521151 2021-11-15 true Ronald E Woolf 999009999 Nayyir Rawhani CPA P01772194 9072788878 2021-11-15 2 2020 2022-09-23 18:48:47Z Ronald E Woolf 758 Illinois St Fairbanks AK 99707 252969058 false X WWW.GVEA.COM X 1946 AK SEE SCHEDULE O 7 7 325 0 999899 831810 0 0 242202998 239597331 3985918 1563816 912093 1347361 247101009 242508508 64723 134494 6240109 14913966 35471683 38089532 0 0 0 200321551 186429203 242098066 239567195 5002943 2941313 743846732 736665549 526502944 508599498 217343788 228066051 X SEE SCHEDULE O false false Provide electric power to approximately 34,933 members. All members were provided electricity on a cooperative basis through the allocations of patronage capital. false false false false false false false false false true false false false true true false true false false false false false false false false false true true true true false false true false false false false false false false false false false true true false false true 251 0 true 325 true true true false false false false 236608998 7336305 false false false X 7 7 false false false false true true true true false false false true true true true true true true true false X X RONALD E WOOLF GVEA 9074521151 758 ILLINOIS ST FAIRBANKS AK 99707 John Burns President & CEO 60.0 0.0 X 296953 0 167061 Ronald E Woolf VP Finance & CFO 50.0 0.0 X 282536 0 140691 Monica Grassi VP Member Services - Terminate 45.0 0.0 X 250951 0 119314 Daniel Bishop Engineering Services Manager 50.0 0.0 X 203933 0 132325 Frank Perkins VP Power Supply 50.0 0.0 X 261112 0 72856 Pete Sarauer Power Systems Manager 50.0 0.0 X 225690 0 100539 Gary P Betsill VP Operations - Terminated 40.0 0.0 X 215956 0 88996 Richard J Piech Operations Manager 50.0 0.0 X 190878 0 106534 John H Kelly Gas Turbine Plant Manager 50.0 0.0 X 203193 0 90512 Leo I Quiachon VP Engineering Services - Term 40.0 0.0 X 209835 0 81744 Richard Lusby Healy Plant Manager 50.0 0.0 X 200264 0 90465 Joshua Davis Director of Operations 50.0 0.0 X 168046 0 86614 Nathan Minnema Director of Engineering 50.0 0.0 X 150653 0 81173 William Kirkenir VP Strat. Dev. - Terminated 40.0 0.0 X 197009 0 8754 Cory R Borgeson President & CEO - Terminated 55.0 0.0 X 132408 0 48426 Tom DeLong Chairman 12.0 0.0 X X 22700 0 0 John K Sloan Vice Chairman 11.0 0.0 X X 21640 0 0 Gary C Newman Secretary 13.0 0.0 X X 18001 0 0 David Pelunis-Messier Treasurer 7.0 0.0 X X 15801 0 0 William D Nordmark Director - Terminated 16.0 0.0 X 14196 0 0 Christopher M Bunch Director 7.0 0.0 X 12915 0 0 Rick Schikora Director - Terminated 13.0 0.0 X 12673 0 0 Richard J Solie Jr Director 7.0 0.0 X 5925 0 0 Bradley Jay Benson Director 7.0 0.0 X 3440 0 0 3316708 0 1416004 153 false true false Allied Power Group LLC 10131 Mills Road HOUSTON TX 77070 Technical Consulting 253912 Darla Jean Ward DBA C D Delivery 3820 Bonita St FAIRBANKS AK 99701 Delivery Services 155738 BDO USA LLP 770 Kenmoor SE Suite 300 GRAND RAPIDS MI 49546 Auditing & Tax Svcs 112805 Alpha Aviation LLC 7901 Highlander Dr ANCHORAGE AK 99518 Aerial Services 108766 4 0 SALES OF ELECTRICITY 221000 236628657 236628657 PATRONAGE DIVIDENDS 221000 975905 975905 INTERCONNECT/MEMBER FEE 221000 692121 692121 POLE RENTAL INCOME 221000 1164273 1164273 ALLOWANCE FOR FUNDS USED DURING CONSTRUCTION 221000 117256 117256 19119 19119 239597331 1425374 1425374 0 0 893916 49376 436264 457652 49376 507028 159566 347462 10115581 47147 10110833 -86547 4748 133694 138442 133694 4748 0 0 0 0 0 0 0 0 0 NET CONTRACT REVENUE 541300 840333 840333 840333 242508508 238566752 999899 2941857 107244 27250 0 14913966 3188380 0 22190605 6044449 4195058 2471040 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16860329 0 30193258 0 COST OF OPS-GEN,TRANS,DIST,CUS 138674296 GROSS REVENUE TAX 610906 UBI TAX 90414 239567195 0 0 0 0 0 1165803 3206307 0 0 37860443 29596928 0 0 0 0 0 1798172 26970749 29177224 2394072 2678415 1131033825 503809941 636192404 627223884 0 0 0 0 13069494 13235599 0 0 26193767 29749020 743846732 736665549 22009984 24315857 0 0 132082 139980 54537671 50085616 0 0 0 0 405190231 391698491 5627055 1540799 39005921 40818755 526502944 508599498 X 0 0 0 0 217343788 228066051 217343788 228066051 743846732 736665549 X 2941313 1925565 5855385 X false true X true false 2513242 5040996 7554238 2786764 65840441 43042321 25584884 62103 1035403530 460767620 574698013 19386749 19386749 627223884 0 PENSION PROVISION 31532165 CIAC REFUNDABLE 2905390 ASSET RETIREMENT OBLIGATIONS 2400000 CONSUMER DEPOSITS 1423177 DEFERRED CREDITS 1348223 ACCUMULATED PROVISION FOR BENEFIT 1193414 SNAP MEMBER CONTRIBUTIONS 16386 40818755 X Form 990, Schedule D, Part X, Line 2: The Association is exempt from federal income taxes under the provisions of Section 501(c)(12) of the Internal Revenue Code of 1986, as amended, and meets the requirements to maintain its exemption from federal income taxes under those provisions. An analysis of whether the position the Association took with regard to particular items of income would meet the definition of an uncertain tax position was made and the Association concluded no uncertain tax positions existed at December 31, 2020. The Association is no longer subject to examinations by tax authorities for years before 2017. The Association is subject to taxes on unrelated business income for some activities in its nonoperating revenues resulting in current and deferred taxes. true UNITED WAY OF THE TANANA VALLEY PO BOX 74396 FAIRBANKS AK 997074396 926003642 501(C)(3) 56744 CHARITABLE CONTRIBUTION TO FUND ACTIVITIES IN THE LOCAL AREA LOVE IN THE NAME OF CHRIST OF THE TANANA VALLEY 609 3RD STREET FAIRBANKS AK 99701 943047380 501(c)(3) 50000 CHARITABLE CONTRIBUTION 2 SCHOLARSHIPS 10 27250 FORM 990, SCHEDULE I, PART I, LINE 2: GRANTS PROVIDED TO ORGANIZATIONS ARE VETTED BY THE COMMUNITIES OF THE INTERIOR ALASKA. SCHOLARSHIPS - ARE SELECTED BY COMMITTEE AND QUALIFICATIONS ARE REVIEWED. FUNDS ARE PAID DIRECTLY TO THE EDUCATIONAL INSTITUTIONS ON BEHALF OF THE INDIVIDUALS. X true true X X X X X false false false John Burns President & CEO 278656 13530 4767 143832 23229 464014 Ronald E Woolf VP Finance & CFO 269817 9018 3701 117748 22943 423227 Monica Grassi VP Member Services - Terminate 244649 5789 513 92823 26491 370265 Daniel Bishop Engineering Services Manager 191800 9722 2411 110832 21493 336258 Frank Perkins VP Power Supply 258370 1938 804 54276 18580 333968 Pete Sarauer Power Systems Manager 216637 6642 2411 80346 20193 326229 Gary P Betsill VP Operations - Terminated 203848 9207 2901 79720 9276 304952 Richard J Piech Operations Manager 183560 3617 3701 86041 20493 297412 John H Kelly Gas Turbine Plant Manager 196370 6262 561 70319 20193 293705 Leo I Quiachon VP Engineering Services - Term 202674 6636 525 72990 8754 291579 Richard Lusby Healy Plant Manager 195757 3666 841 69732 20733 290729 Joshua Davis Director of Operations 163849 3446 751 65962 20652 254660 Nathan Minnema Director of Engineering 147652 2625 376 61224 19949 231826 William Kirkenir VP Strat. Dev. - Terminated 193393 2108 1508 8754 205763 Cory R Borgeson President & CEO - Terminated 130702 1706 41104 7322 180834 FORM 990, SCHEDULE J, PART I, LINE 1B: FIRST CLASS TRAVEL TO THE EAST COAST OF THE UNITED STATES IS ALLOWED IF APPROVED BY THE CEO. IN 2020, THIS BENEFIT WAS NOT EXERCISED. CHARTER HELICOPTERS ARE USED FOR REMOTE TRANSMISSION LINE WORK. A GOLDEN VALLEY ELECTRIC ASSOCIATION 920014712 000000000 2012-03-02 81250000 NEW CLEAN RENEWABLE ENERGY BONDS false true false A 31164384 0 81274297 0 725744 0 31149 82107 0 0 77708114 0 2013 false false true true A false false false false 0 false false false false A false false false false false false 0 false 0 false false A false . FORM 990, SCHEDULE K, PART 1, LINE A(F): DESCRIPTION OF PURPOSE: NEW CLEAN RENEWABLE ENERGY BONDS - 12 REPOWER WIND TURBINES 24.3MW FORM 990, PART I, LINE 1: Recognizing Golden Valley Electric Association's (GVEA) importance to the economic, environmental and social viability of our communities, the Cooperative's mission is to safely provide its member-owners with reliable electric service, quality customer service and innovative energy solutions at fair and reasonable prices. FORM 990, PART III, LINE 1: RECOGNIZING GVEA'S IMPORTANCE TO THE ECONOMIC, ENVIRONMENTAL AND SOCIAL VIABILITY OF OUR COMMUNITIES, THE COOPERATIVE'S MISSION IS TO SAFELY PROVIDE ITS MEMBER-OWNERS WITH RELIABLE ELECTRIC SERVICE, QUALITY CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT FAIR AND REASONABLE PRICES. FORM 990, PART VI, SECTION A, LINE 6: GVEA IS AN ELECTRIC COOPERATIVE OWNED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A: THE BOARD'S DIRECTORS ARE ELECTED BY MEMBERS AND SERVE THREE-YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B: CHANGES TO THE ASSOCIATION'S BYLAWS AND ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL BY THE MEMBERSHIP. IN ADDITION, SOME DISPOSITIONS OF ASSETS AND MERGERS AND CONSOLIDATIONS ARE ALSO SUBJECT TO APPROVAL OF THE MEMBERSHIP AS OUTLINED IN THE BYLAWS, ARTICLE IX. FORM 990, PART VI, SECTION A, LINE 8B: BOARD COMMITTEES DO NOT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY; HOWEVER, BOARD COMMITTEES DO MAKE RECOMMENDATIONS TO THE BOARD AS A WHOLE FOR APPROVAL DURING BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B: FORM 990 AND 990T ARE DRAFTED BY BDO AND THEN REVIEWED BY THE EXECUTIVE AND FINANCIAL OFFICERS, AND SUBMITTED TO THE ASSOCIATION'S TAX FIRM FOR FINALIZATION. FORM 990, PART VI, SECTION B, LINE 12C: THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD OF DIRECTORS AS A WHOLE, AND IS ESTABLISHED IN A WRITTEN CONTRACT. COMPENSATION IS BASED ON DATA PROVIDED BY AN OUTSIDE CONSULTANT SPECIALIZING IN UTILITY COOPERATIVES. THE BOARD MEETS IN EXECUTIVE SESSION TO DISCUSS THIS CONTRACT, BUT VOTES IN AN OPEN BOARD MEETING TO APPROVE THE CONTRACT. COMPENSATION OF OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE CHIEF EXECUTIVE OFFICER (CEO) UTILIZING THE FOLLOWING PROCESS: ALL NON-BARGAINING POSITIONS WITHIN THE ASSOCIATION OTHER THAN THAT OF THE CEO ARE COMPENSATED WITHIN SPECIFIC WAGE GROUPS WHICH HAVE PREDETERMINED PAY RANGES. THE WAGE GROUP MID-POINTS ARE ADJUSTED ANNUALLY AND THE WAGE GROUPS THEMSELVES ARE REVIEWED AND ADJUSTED EVERY FIVE YEARS. BOTH THE MID-POINT AND WAGE GROUP ADJUSTMENTS ARE BASED ON RECOMMENDATIONS FACILITATED BY AN OUTSIDE CONSULTANT SPECIALIZING IN UTILITY COOPERATIVES. THE MID-POINT ADJUSTMENTS AND THE COMPANY WIDE COMPENSATION ARE REVIEWED BY THE BOARD OF DIRECTORS AS A WHOLE AS PART OF THE BUDGET APPROVAL PROCESS. INDIVIDUAL COMPENSATION WITHIN THE APPROPRIATE RANGE IS DETERMINED BY THE EMPLOYEES' SUPERVISOR BASED ON DOCUMENTED PERFORMANCE REVIEWS, AND ARE EFFECTIVE THE FIRST OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15: THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS DETERMINED BY THE BOARD OF DIRECTORS AS A WHOLE, AND IS ESTABLISHED IN A WRITTEN CONTRACT. COMPENSATION IS BASED ON DATA PROVIDED BY AN OUTSIDE CONSULTANT SPECIALIZING IN UTILITY COOPERATIVES. THE BOARD MEETS IN EXECUTIVE SESSION TO DISCUSS THIS CONTRACT, BUT VOTES IN AN OPEN BOARD MEETING TO APPROVE THE CONTRACT. COMPENSATION OF OFFICERS AND KEY EMPLOYEES ARE DETERMINED BY THE CHIEF EXECUTIVE OFFICER (CEO) UTILIZING THE FOLLOWING PROCESS: ALL NON-BARGAINING POSITIONS WITHIN THE ASSOCIATION OTHER THAN THAT OF THE CEO ARE COMPENSATED WITHIN SPECIFIC WAGE GROUPS WHICH HAVE PREDETERMINED PAY RANGES. THE WAGE GROUP MID-POINTS ARE ADJUSTED ANNUALLY AND THE WAGE GROUPS THEMSELVES ARE REVIEWED AND ADJUSTED EVERY FIVE YEARS. BOTH THE MID-POINT AND WAGE GROUP ADJUSTMENTS ARE BASED ON RECOMMENDATIONS FACILITATED BY AN OUTSIDE CONSULTANT SPECIALIZING IN UTILITY COOPERATIVES. THE MID-POINT ADJUSTMENTS AND THE COMPANY WIDE COMPENSATION ARE REVIEWED BY THE BOARD OF DIRECTORS AS A WHOLE AS PART OF THE BUDGET APPROVAL PROCESS. INDIVIDUAL COMPENSATION WITHIN THE APPROPRIATE RANGE IS DETERMINED BY THE EMPLOYEES' SUPERVISOR BASED ON DOCUMENTED PERFORMANCE REVIEWS, AND ARE EFFECTIVE THE FIRST OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19: FORM 990 AND 990T ARE DRAFTED BY BDO AND THEN REVIEWED BY THE EXECUTIVE AND FINANCIAL OFFICERS, AND SUBMITTED TO THE ASSOCIATION'S TAX FIRM FOR FINALIZATION. HOWEVER, THEY ARE AVAILABLE UPON REQUEST BY A MEMBER. FORM 990, PART VIII, LINE 2D: PATRONAGE DIVIDENDS 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, 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 COOPERATIVE'S BY-LAW ARTICLE VIII - NOT-FOR-PROFIT OPERATION. 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 2020 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. HOWEVER, PATRONAGE DIVIDENDS ARE NOT AN EXPENSE FOR FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. FORM 990, PART IX, LINE 24A: COST OF OPERATION - DETAILED LISTING: COST OF POWER AND PRODUCTION $139,133,064 DISTRIBUTION - MAINTENANCE 11,043,724 DISTRIBUTION - OPERATIONS 4,248,081 TRANSMISSION - MAINTENANCE 3,901,575 TRANSMISSION - OPERATIONS 1,749,288 CONSUMER ACCOUNTS 5,864,871 CONSUMER SERVICE 1,125,821 ADMINISTRATIVE AND GENERAL EXPENSE 9,018,277 OTHER DEDUCTIONS 679,127 SALARIES, WAGES, BENEFITS & TAXES, LINE 5-10 (38,089,532) FORM 990, PART IX, LINE 24A 138,674,296 FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS OR FUND BALANCES CHANGE IN OTHER COMPR. INCOME (3,688,149) PATRONAGE CAPITAL RETIRED - TOTAL (6,532,922) PATRONAGE CAPITAL RETIRED - DISCOUNT 1,131,754 CHANGE IN SCHOLARSHIP INVESTMENT 30,736 PATRONAGE EXP (FORM 990,PART IX, LINE 4) NOT F/S EXP 14,913,966 TOTAL 5,855,385 FORM 990, PART XII, LINE 1: FORM 990 AND THE ASSOCIATION'S FINANCIAL STATEMENTS ARE PREPARED ON AN ACCRUAL BASIS UTILIZING THE RURAL UTILITIES SERVICE (RUS) UNIFORM SYSTEM OF ACCOUNTS 7 CFR PART 1767. HOWEVER, EXPENSED WAGES AND SALARIES ARE ITEMIZED FOR BETTER DISCLOSURE. ELECTION FORM 990: ELECTION TO CAPITALIZE SECTION 266 COSTS - CONSISTENT WITH PAST PRACTICE, GOLDEN VALLEY ELECTRIC ASSOCIATION ELECTS TO CAPITALIZE ALL CARRYING CHARGES PURSUANT TO SECTION 266 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND THE PROVISIONS OF TREASURY REGULATION SECTION 1.266-1 THERE UNDER. Golden Valley Electric Foundation Inc PO Box 71249 Fairbanks AK 99707 271487351 PUBLIC FNDTN AK 501(c)(3) Line 7 GVEA true false false false false false false false false false false false false false false true false false false false