2020-10-30T11:14:25-04:00 2019-12-31 813151222 Succentrix Business Advisors PO Box 1587 Afton WY 83110 990 2019-01-01 830129756 Lower Valley Energy Inc LOWE PO Box 188 Afton WY 83110 James R Webb PresidentChief 3078853175 2020-10-12 true Wade Hirschi P01971333 3078851040 2020-10-30 65.221.110.233 2020-10-30 11:15:29 83082620203043tvpfku 2020-10-30 P 09B31083D3A48D76B63A8576C5FFCB2308C130DC 09B31083D3A48D76B63A8576C5FFCB2308C130DC 2019 2021-04-22 16:20:28Z James R Webb 63547923 false X www.lvenergy.com X 1936 WY The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis. 7 7 76 0 0 0 60763158 63171866 403837 376057 0 61166995 63547923 0 5474206 4185467 1621612 10544984 0 0 54085540 48314775 61181358 63045226 -14363 502697 294549644 307397414 208850380 220142144 85699264 87255270 The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis. false false 63045226 63171866 During the year, the cooperative provided electricity and natural gas utility service to its members. 63045226 false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false true false false false false false false false false true 36 0 true 76 true false false false false false 62277957 1796368 false false false X 7 7 false false false false true true true true true false false true true true true true true false false false X James R Webb 3078853175 PO Box 188 Afton WY 83110 Linda Schmidt Director 4.00 0.00 X 22050 0 0 Nancy Winters Board Vice-ChairDirector 10.00 0.00 X 27025 0 0 Fred Brog Board ChairmanDirector 5.00 0.00 X X 24050 0 0 Ted Ladd Director 5.00 0.00 X 17850 0 0 Dean Lewis Director 4.00 0.00 X 24050 0 0 Dan Dockstader SecretaryTreasurerDirector 4.00 0.00 X X 17875 0 0 Scott Anderson Director 5.00 0.00 X 23550 0 0 Jon Hougland Chief Financial Officer 48.00 0.00 X X 162769 0 40516 James R Webb PresidentChief Executive Off 50.00 0.00 X 338826 0 75435 Richard Knori Director of Engineering 45.00 0.00 X 233458 0 39849 William Spaulding Director of Electric Operatio 45.00 0.00 X 173520 0 38558 Martell Brower Director of Gas Operations 45.00 0.00 X 152942 0 70477 Aaron Johnson Substation Mgr 45.00 0.00 X 126341 0 44262 Mallory Winters Electric Foreman 50.00 0.00 X 129745 0 58942 Peter Cook Diretor 0.00 0.00 X 0 0 0 Rod Jensen Director 0.00 0.00 X 0 0 0 1474051 0 368039 7 true true false ECI Inc 1241 S 31st St West Billings MT 59102 Construction 23029941 Canyon Construction PO Box 2239 Jackson WY 83001 Construction 578569 Cope Excavation PO Box 548 Afton WY 83110 Construction 311054 Hot Shot PO Box 1302 Afton WY 83110 Construction 277021 A-1 Tree Care LLC 247 N 6th E Saint Anthony ID 83445 Tree Trimming 216144 9 Retail Sales of Energy 221000 62120223 62120223 Service Related Revenue 221000 251424 251424 Patronage Capital 221000 533852 533852 Rental Income 221000 265752 197864 67888 Other Non-Operating 221000 615 615 63171866 376057 376057 63547923 63103978 0 443945 4185467 4185467 742066 742066 6313498 6313498 1264520 1264520 1624261 1624261 600639 600639 97227 97227 21250 21250 5007806 5007806 6255373 6255373 189216 189216 Purchased Power & Gas 31968280 31968280 Transmission O&M 1617060 1617060 Distribution O&M 1828045 1828045 Administrative & General 699949 699949 630569 630569 63045226 63045226 0 0 X 1640947 563535 2529155 8792398 6617150 1275341 1195077 1669870 1761942 108476881 104277663 296696173 115013113 156030378 181683060 7728896 5684230 8934933 3085602 294549644 307397414 13182251 6381488 186638342 205084615 9029787 8676041 208850380 220142144 X 85699264 87255270 85699264 87255270 294549644 307397414 X 502697 1053309 X false true X true false 1938288 1938288 3327942 2445603 882339 291429943 112567510 178862433 181683060 Organization Memberships 1000 C NRUCFC Captial Term Certificates 1421817 C CFC Debt Contract 594038 C CFC Capital Credits 3126751 C Emergency Housing 249400 C Other Associated Orgs 289131 C Economic Development 2093 C 5684230 Unbilled Sales 3085602 3085602 Member Deposits 711683 Prepaid Revenue 1033158 Boardman Decommissioning Liability 120106 Horse Butte Deferred Credit 2572120 Conservation Bad Debt Reserve 200000 Other Deferred Credits 637189 Other Current Liabilities 3401785 8676041 63547924 1 1 63547923 63547923 58859760 58859760 4185466 4185466 63045226 X true true X X James R Webb PresidentChief Executive Officer 233214 85600 20012 48370 27065 414261 Richard Knori Director of Engineering 151924 70600 10934 13855 25994 273307 William Spaulding Director of Electric Operations 133269 26600 13651 12742 25816 212078 Martell Brower Director of Gas Operations 128152 13100 11690 44696 25781 223419 Jon Hougland Chief Financial Officer 152093 8100 2576 28815 11701 203285 Aaron Johnson Substation Mgr 94779 4600 26962 18222 26040 170603 Mallory Winters Electric Foreman 95902 4600 29243 32917 26025 188687 Peter Cook Diretor Rod Jensen Director Dan Dockstader Director 2039 Advertising false Members or stockholder classes and rights Part VI line 6 The organization operates as a cooperative. All of its customers are members of the cooperative and recieve patronage capital allocations. Member election for additional members Part VI line 7a Every member of the board is elected by the membership of the cooperative, which as stated above, constitutes the cooperatives customer base. Governing body decisions Part VI line 7b The board cannot sell a major portion of the assets of the cooperative without approval of 2/3 of the membership. Form 990 governing body review Part VI line 11 The completed Form 990 is made available for board members to review in an online portal. Board members may contact management with any review comments they have prior to filing the 990. Conflict of interest policy compliance Part VI line 12c The policy is reviewed annually with officers, directors and key employees. They are required to disclose potential conflicts of interest annually and excuse themselves from discussions and decisions where the potential for a conflict arises. They are also required to disclose new conflicts that arise during the year. CEO executive director top management comp Part VI line 15a The organization uses the NRECA Wage Study to establish compensation ranges for all employees. Other officer or key employee compensation Part VI line 15b The cooperative periodically seeks the input of an independent consultant in setting wages and salaries of all employees; but this is not done every year. An independent consultant was not hired in 2016 to review the President/CEO compensation. Each year the cooperative does rely on compensation data gathered by the NRECA in settig wages and salary levels of all employees. the results are presented to the board for review and approval. The study and action are documented. Governing documents etc available to public Part VI line 19 Bylaws are available on the Cooperatives website. New members are directed to the website at the time they sign up for service. They can also be requested by phone, email, or in the office. Financial statements are mailed annually to all members. They can also be requested by phone, email, or in the office. The conflict of interest policy (along with all policies) is available upon request as well. Explanation of other changes in net assets or fund balances Part XI line 9 Discounts on early retirements of pateronage capital were $1,053,309. Balance Sheet Part X Lines 9 and 23 - IN 2013, the cooperative borrowed $153,210,462 to prepay a portion of its power bill to the Bonneville Power Administration. By prepaying, the cooperative will recieve a discount on its future power bills. This transaction resulted in a significant increase in teh balance of prepaid expenses and long-term debt. The overall transaction will benefit the members through lower power costs. General explanation attachment The cooperative is a 50% owner of Swift Creek Hydro Electric Company, LLC (EIN 61-1686955). Swift Creek Hydro Electric provided the cooperative with a K-1 for its share of operating losses. However, the cooperative has already included its share of Swift Creeks revenue and expenses in its operating numberes reported in this return, rather than reporting just a total net from the K-1.