2018-11-02T13:49:35-07:00 2017-12-31 990 2017-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2018-11-02 208.87.234.180 2017 2019-02-21 02:37:17Z NOVEC Stanley C Feuerberg PO Box 2710 Manassas VA 201080875 468142057 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 approx. 167,469 meters/customers. 8 8 321 0 0 0 0 0 430871436 457164167 3514266 3568290 3321456 7409600 437707158 468142057 0 0 3419665 4469658 21035371 20703351 0 0 0 387219686 415318905 411674722 440491914 26032436 27650143 873733780 885642299 199841942 178534694 673891838 707107605 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (167,469 Meters/Customers) 0 0 440491914 0 457164167 Provide affordable service to its 167,469 members with 99.99% average system reliability rate. NOVEC returned to its member-owners $4.5M in patronage capital; connected 3,193 meters and completed $19M in new construction during the fiscal year. 0 0 0 440491914 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 38 0 1 321 1 0 0 0 0 0 457164167 598238 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 X NOVEC Northern Virginia Electric Cooperative 7033350500 PO Box 2710 Manassas VA 201080875 House Wade C Chairman 2.23 0 X 28800 0 5464 Chesley James Vice Chairperson 1.65 0 X 32400 0 5513 Ragan Michael E Secretary 2.31 0 X 28800 0 5837 Wheeler Ann Treasurer 1.54 0 X 32400 0 4341 Albrite Jr Cleil W Director 1.92 0 X 30000 0 332 Garber J Manley Director 2 0 X 20400 0 23833 Gilbride Cynthia Director 2 0 X 24000 0 5581 George Brent Director 1.87 0 X 24500 0 332 Feuerberg Stan President/CEO 40 0 X 635026 0 91723 Rollins Wilbur Senior Vice President - Finance 40 0 X 272980 0 76642 Curtis William Vice President - Public Relations 40 0 X 173122 0 57663 Moxley James C Senior Vice President - Admin Substations Telecom 40 0 X 70755 0 12362 Dailey Michael Vice President - Energy Bus Development 40 0 X 228851 0 71137 Toulme Patrick Vice President & Corporate Counsel 40 0 X 229496 0 72535 Bisson Robert Vice President - Electric System Development 40 0 X 226303 0 70663 Johnson Diane Vice President - Customer Service 40 0 X 72539 0 17726 Scleicher David Vice President - Admin Substations Telecom 40 0 X 177348 0 12926 Swingle Daniel Vice President - Electric System Operations 40 0 X 138645 0 56177 Rainey John Dir - Origination and Plant Ops 40 0 X 181998 0 60963 Spinner Howard Manager - Regulatory Affairs 40 0 X 159371 0 59123 Jaramillo Gilbert Manager - Bus Development & Energy Svcs 40 0 X 159057 0 56756 Hollcroft Mason Manager - System Construction 40 0 X 140854 0 54099 Krovi Sai S Program and PMO Manager 40 0 X 132670 0 30601 3220315 0 852329 68 0 1 0 C W Wright Construction Company 11500 Ironbridge Road Chester VA 238318280 Substation Construction 8613959 Leo Construction Company PO Box 966 Sterling VA 201673966 Underground Utility Construction 6648219 LOCKHEED MARTIN PO Box 13522 Newark NJ 071883522 IT Services 5282267 LEWIS TREE SERVICE INC PO BOX 731897 Dallas TX 753731897 Construction/ROW 4433566 Lee Electrical Construction PO Box 55 Aberdeen NC 28315 Construction 3602110 17 0 Electricity Sales 221122 452137961 452137961 0 0 Electric Service 221122 3755464 3755464 0 0 1270742 1270742 0 0 457164167 3568290 3568290 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 598238 598238 0 0 Patronage Capital from Associate Org 900099 -2412462 -2412462 0 0 Other Cap Crs & Patronage Dividends 900099 464279 464279 0 0 8759545 8759545 0 0 7409600 468142057 468142057 0 0 4469658 2244327 17599061 2282864 -2800062 1377161 4842451 610646 394239 97262 510500 827084 2530285 2069764 0 238447 104909 0 96427 1957166 165132 24899396 1040979 Purchased Power Cost 349871935 Transmission & Distribution 8203149 Customer Services & Sales 3634711 Franchise and Regulatory Cost 7145222 6079201 440491914 0 0 0 2033367 2336737 41279264 37842343 0 0 37316133 40878584 0 0 0 0 86453398 84650219 13588859 12209365 2528122 5150667 852302201 300525484 543920048 551776717 0 0 45715360 51144215 7143153 7114252 0 0 93756076 92539200 873733780 885642299 29471685 34756081 0 0 1694904 1441452 0 0 0 0 0 0 130631799 119964930 0 0 38043554 22372231 199841942 178534694 X 840979 801978 26265529 31871744 646785330 674433883 673891838 707107605 873733780 885642299 X 27650143 71817 0 0 0 5493807 X 0 1 X 1 0 16250 0 16250 0 16250 1 Friends of Luke Torian 4222 Fortuna Plaza Suite 659 Dumfries VA 22025 264035793 600 0 Friends of Scott Lingamfelter 5420 Lomax Way Woodbridge VA 22193 470911440 500 0 Michael Webert for Delegate PO Box 631 Marshall VA 20116 000000000 250 0 Ayala for Delegate PO Box 7434 Woodbridge VA 22195 000000000 500 0 Carter for Virginia PO Box 243 Manassas VA 20108 000000000 500 0 Friends of Jackson Miller PO Box 10072 Manassas VA 20108 300369691 500 0 Friends of Tim Hugo PO Box 893 Centreville VA 20122 510420767 500 0 Karrie Delaney for Delegate PO Box 230542 Centreville VA 20120 000000000 500 0 Jennifer Carroll Foy for Virginia Delegate PO Box 5113 Woodbridge VA 22194 000000000 500 0 Friends of Kelly Burk 111 Carlton Street SW Leesburg VA 20175 000000000 250 0 Friends of John Jenkins 4194 Windflower Court Dale City VA 22193 541998247 250 0 Wendy Gooditis for Delegate PO Box 180 Boyce VA 22620 000000000 500 0 Elizabeth Guzman for Virginia PO Box 1818 Woodbridge VA 22195 000000000 500 0 David Reid for Delegate PO Box 4132 Ashburn VA 20148 000000000 500 0 Friends of Danica Roem PO Box 726 Manassas VA 20113 000000000 500 0 Kathy Tran for Delegate PO Box 2731 Springfield VA 22152 000000000 500 0 Friends of Pat Herrity PO Box 2863 Springfield VA 22152 000000000 350 0 Friends of James Edmunds PO Box 1115 Halifax VA 24558 300578606 500 0 Dave LaRock for Delegate PO Box 6 Hamilton VA 20159 900939170 500 0 Randy Minchew for Delegate PO Box 385 Leesburg VA 20178 000000000 500 0 Kathleen Murphy for Delegate 6888 Elm St Suite 16 McLean VA 22101 800867754 500 0 John Adams for Virginia 9125 Dickey Drive Mechanicsville VA 23116 000000000 500 0 Friends of Justin Fairfax PO Box 48 Fairfax VA 22038 000000000 500 0 Gillespie for Governor PO Box 71596 Richmond VA 23255 000000000 1000 0 Friends of Charniele Herring PO Box 11779 Alexandria VA 22312 000000000 300 0 Mark Herring for Attorney General PO Box 503 Richmond VA 23218 000000000 500 0 LeMunyon for Delegate PO Box 220962 Chantilly VA 20153 000000000 500 0 Northam for Governor PO Box 16249 Arlington VA 22215 000000000 1000 0 Friends of Jill Vogel 74 Waterloo Street Warrenton VA 20186 000000000 500 0 John Bell for Delegate PO Box 223822 Chantilly VA 20153 000000000 500 0 Friends of Tag Greason 19309 Winmeade Drive Lansdowne VA 20176 000000000 500 0 Boysko for Delegate PO Box 247 Herndon VA 20172 000000000 250 0 Eileen Filler-Corn for Delegate PO Box 523082 Springfield VA 22152 000000000 250 0 Kathy Smith for Supervisor 4639 Star Flower Drive Chantilly VA 20151 000000000 250 0 Schedule C, Part I-A, Line 1 Provided campaign contributions to support local and state candidates. 20277316 0 20277316 21058524 0 11916199 9142325 645881 0 540280 105601 28793974 0 25831797 2962177 781526506 0 262237208 519289298 551776717 51144215 F 51144215 Investment in Associated Organizations 52840934 Collateral 1504239 457 Deferred Compensation 4235026 Accrued Unbilled Revenue 32608823 Other current assets 1350178 92539200 0 Consumer Deposits 9267550 Provision for Benefits 3687406 Post Retirement Funding -13115177 Other Misc Liabilities 1291700 CIAC Advanced Deposits 21240752 22372231 468142057 0 0 0 0 0 468142057 0 0 0 468142057 436022256 0 0 0 0 0 436022256 0 4469658 4469658 440491914 Schedule D, Part XII, Line 4b Schedule D, Part XII, Line 4b - Includes patronage dividends in the amount of $4,469,658 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 616877 0 0 0 18150 0 7096 0 84626 0 726749 0 0 0 Rollins Wilbur Senior Vice President - Finance 270476 0 0 0 2503 0 8064 0 68578 0 349621 0 0 0 Curtis William Vice President - Public Relations 150176 0 19000 0 3946 0 868 0 56795 0 230785 0 0 0 Dailey Michael Vice President - Energy Bus Development 192109 0 35000 0 1742 0 6153 0 64984 0 299988 0 0 0 Toulme Patrick Vice President & Corporate Counsel 195227 0 32500 0 1769 0 6983 0 65552 0 302031 0 0 0 Bisson Robert Vice President - Electric System Development 204486 0 19000 0 2817 0 6227 0 64436 0 296966 0 0 0 Scleicher David Vice President - Admin Substations Telecom 162918 0 0 0 14430 0 8837 0 4089 0 190274 0 0 0 Swingle Daniel Vice President - Electric System Operations 127576 0 10000 0 1069 0 4263 0 51914 0 194822 0 0 0 Rainey John Dir - Origination and Plant Ops 154501 0 25306 0 2191 0 2745 0 58218 0 242961 0 0 0 Spinner Howard Manager - Regulatory Affairs 138136 0 20000 0 1235 0 4911 0 54212 0 218494 0 0 0 Jaramillo Gilbert Manager - Bus Development & Energy Svcs 139280 0 19146 0 631 0 4920 0 51836 0 215813 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: ($39,001); OCI & Reacquired Donations: $5,532,808. NOVEC Holdings Inc 10323 Lomond Drive Manassas VA 20109 900719502 Holding Company 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 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 2611676 Interest rate is the applied rate by the bank for construction loans. South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass p 155997 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 139435 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc n 5648 Rent is determined by rental market analysis. NOVEC Solutions Inc o 80505 Labor is reimbursed at cost plus fringe benefit fee. NOVEC Solutions Inc q 354968 Intercompany cost is reimbursed at cost plus admin fee. NOVEC Solutions Inc p 165132 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 53417 Labor cost is reimbursed at cost plus fringe benefit fee. NOVEC Energy Solutions Inc q 229454 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, 2017, in order to prepare a complete and accurate return, and allow for review by the Board.