2014-08-13T16:56:11-07:00 2013-12-31 990 2013-01-01 540346923 NORTHERN VIRGINIA ELECTRIC CO-OP NORT 7033350500 PO Box 2710 Manassas VA 201080875 Wilbur Rollins Sr. VP of Finance 7033921626 2014-08-13 2013 2015-11-30 17:44:51Z NOVEC Stanley C Feuerberg PO Box 2710 Manassas VA 201080875 396961196 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 we serve. Distribution of Electricity serving approx. 153,892 meters/customers. 9 9 345 0 0 0 0 0 387993363 392603455 2509701 2605903 -954488 1751838 389548576 396961196 0 0 21247150 1920084 26012323 25508422 0 0 0 342289103 345636782 389548576 373065288 0 23895908 790834438 845936929 212204968 241708574 578629470 604228355 To exceed the expectations of our customers and to be the preferred energy provider in all markets served. Distribution of Electricity (153,892 Meters/Customers) 0 0 371145204 392603455 Provide affordable service to its 153,892 members with 99.98% average system reliability rate. NOVEC returned to its member-owners $1.9M in patronage capital; connected 3,532 metered and completed $35.1M in new construction during the fiscal year. 0 0 0 371145204 0 0 1 0 0 0 0 0 0 1 1 0 1 1 0 0 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 44 0 1 345 1 0 0 0 0 0 392603455 4357741 0 X 9 9 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 Grove Walter Board Member 0.06 0 X 6069 0 4269 Wheeler Ann Treasurer 2.96 0 X 32403 0 703 Ragan Michael Secretary 2.21 0 X 30189 0 1589 Harris Harry Board Member 2.12 X 23557 0 157 Zilliott William Board Member 2.62 0 X 30727 0 827 House Wade Chairman 2.12 0 X 29663 0 1563 Gilbride Cynthia Board Member 2.19 0 X 24989 0 1589 Chesley James Vice Chairperson 2.85 0 X 34089 0 1589 Garber Manley Board Member 2.46 0 X 38532 0 19032 Feuerberg Stan Exec Director/CEO 40 0 X 578302 0 74572 Rollins Wilbur Senior Vice President 40 0 X 263677 0 54976 Bisson Robert Vice President 40 0 X 202526 0 53828 Moxley James Senior Vice President 40 X 202874 0 56313 Dailey Michael Vice President 40 X 188015 0 53362 Curtis William Vice President 40 0 X 155198 0 47730 Toulme Patrick Corporate Counsel 40 0 X 193168 0 53943 Johnson Diane Vice President 40 0 X 131643 0 31693 Shaffer Clarence Vice President 40 0 X 143437 0 42743 Blaylock Kenneth Manager Substation and Telecommunication 40 0 X 131075 0 41899 Jaramillo Gilbert Manager Business Development 40 0 X 137463 0 44452 Rainey John Sr. Energy Contract Originator 40 0 X 163700 0 49406 McElhiney David Manager SEP 40 0 X 118742 0 42596 Hollcroft Mason Manager construction 40 0 X 121629 0 41681 Litten Wayne Service Technician 43.47 0 X 122817 0 33318 Hampton Dan Line Technician 52.86 0 X 118903 0 23222 Albrite Cleil Board Member 0.19 0 X 5400 0 0 Swingle Daniel Manager 40 0 X 114678 0 40305 Pingley Chris Service Technician 44.08 0 X 119958 0 35508 Spinner Howard Manager 40 0 X 141829 0 36445 Bonfadini John Former Board Member 0 0 X 0 0 2940 Reed Thomas Former Board Member 0 0 X 0 0 2940 3605252 0 895190 19 1 1 0 Leo Construction Company PO Box 966 Sterling VA 201673966 Underground Utility construction 2695246 Dewberry and Davis Consultants PO Box 1824 Merrifield VA 22116 Substation Design and Project Review 113404 KPMG PO Box 841156 Dallas TX 752841156 Auditing and Consulting Services 267059 Reed Smith LLP PO Box 75318 Baltimore MD 212755318 Legal Services 204340 Hunton & Williams 951 East Byrd Street Richmond VA 232194704 Legal Services 290366 9 0 Electricity Sales 221000 388180541 388180541 0 0 Electric Services 221000 3673235 3673235 0 0 Rent from Electric Property 221000 749679 749679 0 0 0 0 0 0 392603455 2605903 2605903 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fiber Optic Projects 221000 816064 816064 0 0 Patronage Capital From Associate Organizations 900099 935774 935774 0 0 0 0 0 0 1751838 396961196 396961196 0 0 0 0 0 1920084 1880922 0 15276979 3520648 3614570 1215303 3246278 494705 284914 46204 0 0 602248 637157 3322363 1796444 0 278653 89681 0 41709 3242841 49900 21231913 840237 Purchased Power Cost 291186682 Transmission and Distribution Cost 4136864 Customer Service Cost 4651301 Property Taxes 6123927 3332761 373065288 0 0 0 6702422 5656057 46247208 48985210 108406 0 36586305 40732328 0 0 0 0 70000000 106000000 8727931 10293169 1007801 2141935 727975116 245859792 474482940 482115324 0 0 51357212 51132934 6612059 6942201 0 0 89002154 91937771 790834438 845936929 31605698 35294247 0 0 2329406 2455259 0 0 0 0 0 0 79732452 71954447 70000000 106000000 28537412 26004621 212204968 241708574 X 1051157 984959 21582498 23315673 555995815 579927723 578629470 604228355 790834438 845936929 X 23895908 0 0 0 0 1702977 X X 0 1 X 1 1 0 11325 0 9200 2125 11325 1 Keams for Delegate PO box 1134 Vienna VA 22181 263824389 250 0 Dave Albo for Delegate 6367 Rolling Mill Place Suite 102 Springfield VA 22152 541715237 250 0 Friends of Rich Anderson PO Box 7926 Woodbridge VA 22195 264374961 500 0 Black for Senate Richard Black for Senate 21029 Rodney Lane Leesburg VA 20165 273063232 250 0 Friends of David Bulova PO Box 106 Fairfax Station VA 22039 550893686 250 0 Ken Cuccinelli for Governor 10560 Main Street suite 218 Fairfax VA 22030 262280210 250 0 Charles J Colgan Sr Colgan for State Senate 8070 Tysons Oak Court Gainesville VA 20181 541999320 250 0 Dudenhefer for Delegate 4 Abraham Court Stafford VA 22554 452040705 250 0 James E Edmunds II Friends of James Edmunds PO Box 1115 60 S Main Street Halifax VA 24558 300578606 250 0 Eileen Filler Corn for Delegate PO Box 523082 Springfield VA 22152 271694500 250 0 Friends of Tag Greason PO Box 651293 Potomac Falls VA 20165 260330076 250 0 Friends of Pat Herrity PO Box 2863 Springfield VA 22152 208668416 250 0 Friends of Patrick Hope HOPE for Virginia PO Box 3148 Arlington VA 22203 264109577 250 0 Friends of Tim Hugo PO Box 893 Centreville VA 20122 510420767 300 0 Friends of John Jenkins 4194 windflower Court Dale City VA 22193 541998247 200 0 Friends of Scott Lingamfelter 5429 Lomax Way Woodbridge VA 22193 470911440 300 0 Dave LaRock for Delegate PO Box 6 Hamilton VA 20159 900939170 250 0 Joe May for Delegate Friends of Joe May PO Box 4104 Leesburg VA 20177 541997980 700 0 Friends of Mike May 12322 Mulberry Court Woodbridge VA 22192 134218831 250 0 Terry McAuliffe for Governor 7527 Old Dominion Drive McLean VA 22102 461466919 500 0 Friends of Frank Principi 4325 Evergreen Drive Woodbridge VA 22193 870797424 250 0 Friends of Jackson Miller PO Box 10072 Manassas VA 201080632 300369691 500 0 J Chapman Petersen Petersen for State Senate PO Box 1066 Fairfax VA 220381066 760846380 250 0 Puller for Senate PO Box 73 Mt Vernon VA 22121 541998179 300 0 Friends of David Ramadan 25050 Riding Plaza Suite 130 650 South Riding VA 20152 452384227 500 0 Friends of Tom Rust RUST for Delegate PO Box 913 Herndon VA 20172 043593986 450 0 Stuart for Senate PO Box 1146 Montross VA 22520 208916835 500 0 Friends of Luke Torian 4222 Fortuna Plaza 659 Dumfries VA 22025 264035793 200 0 Lemunyon for Delegate 3296 Willow Glen Drive Oak Hill VA 201711916 262196998 250 0 Schedule C, Part I-A, Line 1 Provided campaign contribution to support local and state candidates 16142811 0 16142811 20929112 0 10460073 10469039 645882 0 336612 309270 25988055 0 21862054 4126001 664269256 0 213201053 451068203 482115324 0 51132934 F 51132934 Investment in Associate Organizations 52372391 Colleteral 9350000 Accured unbilled revenue 27141564 Other current assets 578757 457 deferred compensation deposits 2495059 91937771 0 Consumer Deposits 9093203 Purchased Power Recovery 17724798 Provision for Pension Benefits Funding -1675848 Current and accrued liabilities 862468 26004621 X 396961196 0 0 0 0 0 396961196 0 0 0 396961196 371145204 0 0 0 0 0 371145204 0 1920084 1920084 373065288 Schedule D, Part X, Line 2 Not Applicable Schedule D, Part XII, Line 4b Included in Part IX line 4 is patronage dividends paid to members that is not recorded as an expense on NOVEC's audited financial statements. Dividends paid to members are recorded as a reduction to equity on the audited balance sheet. X X X 0 0 0 Feuerberg Stan Exec Director/CEO 522802 0 15000 0 23000 0 17500 0 83340 0 661642 0 0 0 Rollins Wilbur Senior Vice President 202177 0 21000 0 23000 0 17500 0 62302 0 325979 0 0 0 Bisson Robert Vice President 169526 0 19500 0 13500 0 0 0 59397 0 261923 0 0 0 Moxley James Senior Vice President 171712 0 19000 0 12162 0 0 0 62393 0 265267 0 0 0 Dailey Michael Vice President 150465 0 21750 0 15800 0 0 0 59126 0 247141 0 0 0 Curtis William Vice President 137626 0 16000 0 1572 0 0 0 48516 0 203714 0 0 0 Toulme Patrick Corporate Counsel 156923 0 23250 0 10395 0 2600 0 59119 0 252287 0 0 0 Johnson Diane Vice President 95143 0 13500 0 23000 0 0 0 35196 0 166839 0 0 0 Shaffer Clarence Vice President 108437 0 12000 0 23000 0 0 0 47539 0 190976 0 0 0 Blaylock Kenneth Manager Substation and Telecommunication 98684 0 18035 0 14356 0 0 0 44577 0 175652 0 0 0 Jaramillo Gilbert Manager Business Development 109048 0 17080 0 11334 0 0 0 48702 0 186164 0 0 0 Rainey John Sr. Energy Contract Originator 120482 0 20218 0 23000 0 0 0 52460 0 216160 0 0 0 McElhiney David Manager SEP 90104 0 16143 0 12495 0 0 0 46344 0 165086 0 0 0 Litten Wayne Service Technician 120520 0 0 0 2297 0 0 0 34466 0 157283 0 0 0 Hollcroft Mason Manager construction 88878 0 16455 0 16296 0 0 0 45442 0 167071 0 0 0 Swingle Daniel Manager 94910 0 12625 0 7143 0 0 0 43876 0 158554 0 0 0 Pingley Chris Service Technician 116317 0 0 0 3640 0 0 0 37328 0 157285 0 0 0 Spinner Howard Manager 121311 0 11770 0 8748 0 0 0 40820 0 182649 0 0 0 Grove Walter Board Member 1800 0 0 0 4268 0 0 0 0 0 6068 0 0 0 Wheeler Ann Treasurer 31700 0 0 0 703 0 8000 0 0 0 40403 0 0 0 Ragan Michael Secretary 28600 0 0 0 1589 0 11600 0 0 0 41789 0 0 0 Harris Harry Board Member 23400 0 0 0 157 0 8000 0 0 0 31557 0 0 0 Zilliott William Board Member 29900 0 0 0 827 0 19000 0 0 0 49727 0 0 0 House Wade Chairman 28100 0 0 0 1563 0 11600 0 0 0 41263 0 0 0 Gilbride Cynthia Board Member 23400 0 0 0 1589 0 8000 0 0 0 32989 0 0 0 Chesley James Vice Chairperson 32500 0 0 0 1589 0 8000 0 0 0 42089 0 0 0 Garber Manley Board Member 19500 0 0 0 19032 0 11600 0 0 0 50132 0 0 0 Albrite Cleil Board Member 5400 0 0 0 0 0 0 0 0 0 5400 0 0 0 Schedule J, Part I, Line 3 The CEO's compensation is the responsibility of the Executive committee of the Board of Directors 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 received 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 compensation packet for top managerial staff. A market analysis is performed by an indedpendent 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 review officers compensation, benefits adn contract amendments with recommendation fro appoval 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 Included in Part IX line is patronage dividends paid to members that is not recorded as an expense on NOVEC audited financial statements. Patronage dividends paid are a reduction to Equity on the audited balance sheet Form 990, Part XII, Line 3b A-133 audit is scheduled for September 2014 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 Retail sale pf generators, water heaters, surge protectors VA NOVEC Holdings Inc C 1 South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass 1225 Plywood Trl 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 1935460 Interest rate on loan is the applied rate by bank to construction bridge loan South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass o 324997 Labor is reimbursed at cost plus a fringe benefits fee South Boston Energy LLC DBA NOVEC Energy Production Halifax Cty Biomass q 81548 intercompany cost reimbursed at cost plus admin fee NOVEC Solutions Inc n 6211 Rent is determined by rental market analysis NOVEC Solutions Inc o 89140 Labor is reimbursed at cost plus fringer benefits fee NOVEC Solutions Inc q 295072 Intercompany cost reimbursed at cost plus admin fee NOVEC Energy Solutions Inc j 14919 Rent is detemined by rental market analysis NOVEC Energy Solutions Inc o 72751 Labor cost is reimbursed at cost plus fringe beneifts fee NOVEC Energy Solutions Inc q 196345 Intercompany cost reimbursed at cost plus admin fee NOVEC Energy Solutions Inc d 8000000 Limited quaranty of a revolving line of credit with a interest agreement based on LIBOR plus 1% NOVEC Solutions Inc p 49899 Internet delivery - contracted rate NOVEC was granted an extension to August 15, 2014 on June 16, 2014 with Notice CP211A