2019-11-12T12:29:28-07:00 2018-12-31 990 2018-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2019-11-12 208.87.234.180 2018 2020-01-14 16:20:31Z NOVEC Stanley C Feuerberg PO Box 2710 Manassas VA 201080875 538762673 0 X www.novec.com X 1983 VA Mission: To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Activity: Distribution of Electricity serving approximately 170,124 meters/customers. 8 8 321 0 0 0 0 0 457164167 534439697 3568290 4416460 7409600 -93484 468142057 538762673 0 0 4469658 4564565 20703351 23674120 0 0 0 415318905 492033394 440491914 520272079 27650143 18490594 885642299 930331339 178534694 207668502 707107605 722662837 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (170,124 Meters/Customers) 0 0 520272079 534439697 Provide affordable service to its 170,124 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $4.5M in patronage capital; connected 2,755 meters and completed $72M in net new construction during the fiscal year. 0 0 0 520272079 0 0 1 0 0 0 0 0 0 1 1 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 46 0 1 321 1 0 0 0 0 0 534439697 476089 0 0 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X NOVEC Northern Virginia Electric Cooperative 7033350500 PO Box 2710 Manassas VA 201080875 House Wade C Chairman 2.44 0 X 25900 0 5433 Chesley James Vice Chairperson 1.52 0 X 31400 0 5478 Ragan Michael E Secretary 2.33 0 X 25900 0 5791 Wheeler Ann Treasurer 2.17 0 X 31400 0 4352 Albrite Jr Cleil W Director 1.48 0 X 29500 0 343 Garber J Manley Director 1.38 0 X 15300 0 15163 Gilbride Cynthia Director 2.21 0 X 29500 0 5541 George Brent Director 1.63 0 X 29500 0 343 Feuerberg Stan President/CEO 40 0 X 635042 0 92934 Rollins Wilbur Senior Vice President - Finance 40 0 X 280865 0 80050 Curtis William Vice President - Public Relations 40 0 X 69604 0 9803 Dailey Michael Vice President - Energy Bus Development 40 0 X 230507 0 73858 Toulme Patrick Vice President & Corporate Counsel 40 0 X 232220 0 76877 Bisson Robert Vice President - Electric System Development 40 0 X 238911 0 72720 Lisa Hooker Vice President - Public Relations 40 0 X 134602 0 17010 Scleicher David Vice President - Admin Substations Telecom 40 0 X 243376 0 17076 Swingle Daniel Vice President - Electric System Operations 40 0 X 148251 0 57471 Rainey John Dir - Origination and Plant Ops 40 0 X 186020 0 62884 Spinner Howard Manager - Regulatory Affairs 40 0 X 164458 0 36550 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 40 0 X 181330 0 63991 Hollcroft Mason Manager - System Construction 40 0 X 144340 0 54675 Krovi Sai S Program and PMO Manager 40 0 X 150095 0 30691 Dan A Hampton Lead Line Technician 40 0 X 152193 0 33929 George A Dodson Lead Line Technician 40 0 X 151551 0 42284 Samuel T Morgan Service Technician 68 0 X 164916 0 28631 3726681 0 893878 16 0 1 0 C W Wright Construction Company 11500 Ironbridge Road Chester VA 238318280 Substation Construction 6535435 Leo Construction Company PO Box 966 Sterling VA 201670966 Underground Utility Construction 7962586 NEW RIVER ELECTRICAL CORP PO BOX 70 CLOVERDALE VA 24077 Construction 3463605 LEWIS TREE SERVICE INC PO BOX 731897 Dallas TX 753731897 Construction/ROW 4481524 Lee Electrical Construction PO Box 55 Aberdeen NC 28315 Construction 2721459 11 0 Electricity Sales 221122 529530873 529530873 0 0 Electric Service 221122 3683391 3683391 0 0 1225433 1225433 0 0 534439697 4416460 4416460 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 476090 476090 0 0 Patronage Capital from Associate Org 900099 -980516 -980516 0 0 Other Cap Crs & Patronage Dividends 900099 398942 398942 0 0 12000 12000 0 0 -93484 538762673 538762673 0 0 0 0 0 4564565 2208593 0 17158264 2409191 407188 1490884 4883279 1154692 239056 85840 0 0 1401022 821169 2763555 2660190 0 275395 118472 0 123954 2145578 280745 26218978 1101634 Purchased Power Cost 421218516 Transmission & Distribution 9894984 Customer Services & Sales 3664081 Franchise and Regulatory Cost 7631645 5350609 520272079 0 0 0 2336737 4842067 37842343 11995492 0 0 40878584 42943801 0 0 0 0 84650219 82775618 12209365 13875993 5150667 15251574 905626464 314318481 551776717 591307983 0 0 51144215 52958466 7114252 7065220 0 0 92539200 107315125 885642299 930331339 34756081 31814476 0 0 1441452 1190235 0 0 0 0 0 0 119964930 129778225 0 0 22372231 44885566 178534694 207668502 X 801978 767059 31871744 28971301 674433883 692924477 707107605 722662837 885642299 930331339 X 18490594 -1465729 0 0 0 -1469633 X 0 1 X 1 0 1000 0 1000 0 1000 1 Carter for Virginia PO Box 243 Manassas VA 20108 000000000 -500 0 Friends of Tim Hugo PO Box 893 Centreville VA 20122 510420767 250 0 Petersen for State Senate PO Box 1066 Fairfax VA 22038 760846380 500 0 Dave Marsden PO Box 10889 Burke VA 22009 271338500 250 0 Friends of Pat Herrity PO Box 2863 Springfield VA 22152 208668416 500 0 Schedule C, Part I-A, Line 1 Provided campaign contributions to support local and state candidates. 33098848 0 33098848 33773746 0 11718726 22055020 645882 0 569169 76713 31197292 0 27241340 3955952 806910696 0 274789246 532121450 591307983 52958466 F 52958466 Investment in Associated Organizations 51860418 Collateral 6325088 457 Deferred Compensation 4306391 Accrued Unbilled Revenue 30848807 Other current assets 13974421 107315125 0 Consumer Deposits 9240792 Provision for Benefits 3620707 Other Misc Liabilities 1543375 CIAC Advanced Deposits 30480692 44885566 538762673 0 0 0 0 0 538762673 0 0 0 538762673 515707514 0 0 0 0 0 515707514 0 4564565 4564565 520272079 Schedule D, Part XII, Line 4b Includes patronage dividends in the amount of $4,564,565 paid to members that is not recorded as an expense on NOVEC's audited financial statements. Patronage dividends paid are a reduction to Equity on the audited balance sheet. X X X 0 0 0 Feuerberg Stan President/CEO 616133 0 0 0 18909 0 6490 0 86444 0 727976 0 726749 0 Rollins Wilbur Senior Vice President - Finance 278269 0 0 0 2596 0 8252 0 71798 0 360915 0 349621 0 Lisa Hooker Vice President - Public Relations 122384 0 2000 0 10218 0 5468 0 11542 0 151612 0 0 0 Dailey Michael Vice President - Energy Bus Development 202613 0 25000 0 2894 0 4621 0 69237 0 304365 0 299988 0 Toulme Patrick Vice President & Corporate Counsel 205773 0 23500 0 2947 0 7053 0 69824 0 309097 0 302031 0 Bisson Robert Vice President - Electric System Development 215816 0 20000 0 3095 0 3596 0 69125 0 311632 0 296966 0 Scleicher David Vice President - Admin Substations Telecom 229915 0 9000 0 4461 0 12072 0 5004 0 260452 0 190274 0 Swingle Daniel Vice President - Electric System Operations 132673 0 14500 0 1079 0 4603 0 52868 0 205723 0 194822 0 Rainey John Dir - Origination and Plant Ops 157706 0 26045 0 2268 0 3323 0 59561 0 248903 0 242961 0 Spinner Howard Manager - Regulatory Affairs 141410 0 21100 0 1948 0 5063 0 31487 0 201008 0 218494 0 Jaramillo Gilbert Manager - PWR Portfolio Opt & Bus Devel 155153 0 25396 0 781 0 5604 0 58387 0 245321 0 215813 0 Hollcroft Mason Manager - System Construction 122497 0 20166 0 1676 0 4458 0 50218 0 199015 0 0 0 Krovi Sai S Program and PMO Manager 129920 0 19762 0 413 0 6181 0 24511 0 180787 0 0 0 Dan A Hampton Lead Line Technician 149602 0 2474 0 118 0 4594 0 29335 0 186123 0 0 0 George A Dodson Lead Line Technician 148701 0 2474 0 375 0 260 0 42024 0 193834 0 0 0 Samuel T Morgan Service Technician 162217 0 2556 0 143 0 2472 0 26158 0 193546 0 0 0 Form 990, Part VI, Section A, Line 6 NOVEC is a member owned electric cooperative. Form 990, Part VI, Section A, Line 7a NOVEC's members elect the governing body by vote or proxy at the annual meeting. Form 990, Part VI, Section B, Line 11b The Form 990 is reviewed by the Accounting Manager, Vice President of Finance and Board of Directors Audit committee for completeness and accuracy as compared to the audited financial statements. Other Board Members receive a summary for review. Form 990, Part VI, Section B, Line 12c The policy is monitored and enforced through education and awareness at regular employee meetings and inquiries of Directors. Form 990, Part VI, Section B, Line 15 The VP of Human Resources is responsible for the compensation packet of top managerial staff. A market analysis is performed by an independent consultant group with benchmarks by industry and geographical data. The CEO approves compensation packets for key employees. The Executive committee of the Board of Directors reviews officers compensation, benefits and contract amendments with recommendations for approval. Form 990, Part VI, Section C, Line 19 All documents are made available upon written request by mail, fax or electronic copy. Form 990, Part XI, Line 9 Change in membership dues: ($34,919); Assignable Patronage: ($694); OCI & Reacquired Donations: ($1,434,020). NOVEC Holdings Inc 10323 Lomond Drive Manassas VA 20109 900719502 Holding Co of consol taxable entities DE Northern Virginia Electric Cooperative C 1 NOVEC Energy Solutions Inc PO Box 2710 Manassas VA 20108 542001851 Retail sale of Natural Gas VA NOVEC Holdings Inc C 1 NOVEC Solutions Inc PO Box 2710 Manassas VA 20108 541830182 Sale of generators, water heaters, surge protectors & fiber internet VA NOVEC Holdings Inc C 1 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass 1225 Plywood Trail South Boston VA 245926530 611649511 49 Megawatt Biomass generation power plant VA NOVEC Holdings Inc C 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass a-i 2548876 Interest rate is the applied rate by the bank for construction loans. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass p 163855 Labor is reimbursed at cost plus a fringe benefits fee. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 213394 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc n 4781 Rent is determined by rental market analysis. NOVEC Solutions Inc o 76905 Labor is reimbursed at cost plus fringe benefit fee. NOVEC Solutions Inc q 343491 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc p 280745 Internet delivery fee is by contracted rate. NOVEC Energy Solutions Inc j 14891 Rent is determined by rental market analysis. NOVEC Energy Solutions Inc o 55468 Labor cost is reimbursed at cost plus fringe benefit fee. NOVEC Energy Solutions Inc q 221417 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Energy Solutions Inc d 6000000 Limited guaranty of revolving line of credit with an interest agreement based on LIBOR PLUS 3.00%. The organization filed an extension to November 15, 2019, in order to prepare a complete and accurate return, and allow for review by the Board.