2019-07-23T18:56:32-04:00 2018-12-31 813151222 Succentrix Business Advisors PO Box 1587 Afton WY 83110 990 2018-01-01 830129756 Lower Valley Energy Inc LOWE PO Box 188 Afton WY 83110 James R Webb PresidentChief 3078853175 2019-04-11 true Wade Hirschi P01971333 3078851040 2019-07-23 184.171.140.17 2019-07-23 18:57:00 8308262019204esbnhwf 2019-07-23 P 6ABC8E0ECD536612FF4F47840FBD88A516BD0936 6ABC8E0ECD536612FF4F47840FBD88A516BD0936 2018 2019-02-21 02:37:17Z James R Webb 61169032 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 58511915 60763158 330454 403837 0 58842369 61166995 0 5132681 5474206 1635219 1621612 0 0 51561520 54085540 58329420 61181358 512949 -14363 270386818 294549644 186197601 208850380 84189217 85699264 The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis. false false 61181358 60763188 During the year, the cooperative provided electricity and natural gas utility service to its members. 61181358 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 false false false false false false false false false true 31 0 true 76 true false false false false false 60135136 1463933 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 22319 0 0 Nancy Winters Board Vice-ChairDirector 10.00 0.00 X 27515 0 0 Fred Brog Board ChairmanDirector 9.00 0.00 X X 26150 0 0 Ted Ladd Director 5.00 0.00 X 19237 0 0 Dean Lewis Director 4.00 0.00 X 23000 0 0 Dan Dockstader SecretaryTreasurerDirector 4.00 0.00 X X 19350 0 0 Scott Anderson Director 5.00 0.00 X 27119 0 0 James R Webb PresidentChief Executive Off 50.00 0.00 X 322428 0 107547 Jon Hougland Chief Financial Officer 50.00 0.00 X 145554 0 29137 Richard Knori Director of Engineering 45.00 0.00 X 197604 0 39569 William Spaulding Director of Electric Operatio 45.00 0.00 X 164624 0 38534 Martell Brower Director of Gas Operations 45.00 0.00 X 147509 0 70910 Charles Jenkins Lineman 45.00 0.00 X 132880 0 36618 Don Edwards Lineman 45.00 0.00 X 132532 0 56165 1407821 0 378480 7 false true false Wasatch Electric PO Box 26588 Salt Lake City UT 84126 Construction 819502 Hot Shot Powerline Construction PO Box 942 Afton WY 83110 Construction 367055 Interstate Electric Contractors Inc 12725 W 54th Drive Arvada CO 80002 Construction 526979 Stantec Consulting Services Inc 13980 Collections Center Dr Chicago IL 60693 Environmental Cons 425059 A-1 Tree Care LLC 247 N 6th E Saint Anthony ID 83445 Tree Trimming 216288 5 Retail Sales of Energy 221000 60061080 60061080 Service Related Revenue 221000 150216 150216 Patronage Capital 221000 516074 516074 Rental Income 221000 35788 35788 60763158 383086 383086 22788 2037 20751 20751 20751 61166995 60727370 0 439625 5474206 5474206 1621612 1621612 78364 78364 17400 17400 5172815 5172815 6138377 6138377 Purchased Power 29180809 29180809 Distribution Oper & Maint 5391501 5391501 Purchased Gas 3633919 3633919 Administrative & General 1315362 1315362 3156993 3156993 61181358 61181358 0 0 X 2197453 1640947 10108667 8792398 1275341 1432586 1669870 117119987 108476881 265120156 109089778 124947504 156030378 8469494 7728896 6111127 8934933 270386818 294549644 3948597 13182251 173163470 186638342 9085534 9029787 186197601 208850380 X 84189217 85699264 84189217 85699264 270386818 294549644 X -14363 1524410 X false true X true false 1938288 1938288 263181868 109089778 154092090 156030378 Organization Memberships 1000 C NRUCFC Captial Term Certificates 2016793 C NRUCFC Capital Credits 2899982 C Other Associated Organizations 259028 C NRUCFC Select Notes 2000000 C Emergency Response Housing 500000 C Economic Development 52093 C 7728896 Unbilled Sales 3841123 Other Current Assets 309499 Unamortized Loan Repricing Fees 1770412 Teton Village Contribution in Aid 2887625 Swift Creek Receivable 126274 8934933 Member Deposits 643763 Prepaid Revenue 964034 Other Accrued Liabilities 4067826 Unamortized Gain on RUS Debt Boardman Decommissioning Liability 240213 Horse Butte Deferred Credit 2777889 Other Deferred Credits 336062 9029787 61166995 61166995 61166995 55882262 -5299096 -5299096 61181358 61181358 Other expenses included on Form 990 (Part XII, line 4b) Patronage capital retirments ($5,474,206) are reported as an expense on the 990, but as an equity transaction on the audited financial statements. Other expenses are reported differently on 990 than on financial statements ($175,110). X true true X X false false false James R Webb PresidentChief Executive Officer 236825 75600 10003 79747 27800 429975 Richard Knori Director of Engineering 149534 40000 8070 12816 26753 237173 William Spaulding Director of Electric Operations 137710 26000 914 11947 26587 203158 Martell Brower Director of Gas Operations 133802 12500 1207 44358 26552 218419 Charles Jenkins Lineman 127309 1200 4371 10397 26221 169498 Jon Hougland Chief Financial Officer 138778 6000 776 16096 13041 174691 Don Edwards Lineman 114132 1200 17200 29708 26457 188697 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 Margins per tax return are ($14,363). Margins per the audited financial statements were $5,284,734. Members retired a total of $5,474,206 of patronage capital during the year. This is included in expenses for the tax return, but not on the audited financial statements. Discounts on early retirements were $1,699520. These numbers netted together total $1,510,048. 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. Teh 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.