Civic Intelligence

Trinity Valley Electric Cooperative Inc

990 • Fiscal year 2016 • EIN 75-2701263

Jan 01, 2016 to Dec 31, 2016 • Filed on May 03, 2017

Organization Profilewww.tvec.net

View Organization Page

PO Box 888Kaufman, TX 75142

(972) 932-2214

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

37th percentile

0.58x

Higher debt load relative to assets than 37% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

1.35x

Higher debt load relative to revenue than 55% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Net Margin

50th percentile

0.1%

Higher net margin than 50% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

27th percentile

$386,087

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Source year 2016

Asset Growth

54th percentile

3.5%

Faster asset growth than 54% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

33rd percentile

-2.4%

Faster revenue growth than 33% of similar nonprofits.

2016 filings • 501(c)12 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets37th percentile

Assets

Up

$339,525,017

Up $11,369,456 (+3.5%) from 2015

Net Assets

Up

$142,540,923

Up $7,036,491 (+5.2%) from 2015

Liabilities

Up

$196,984,094

Up $4,332,965 (+2.2%) from 2015

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin50th percentile

Revenue

Down

$145,619,982

Down $3,615,248 (-2.4%) from 2015

Expenses

Down

$145,437,509

Down $3,604,721 (-2.4%) from 2015

Net Income

Down

$182,473

Down $10,527 (-5.5%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600M$400M$200M$0Assets 2010: $273,493,899Liabilities 2010: $186,509,738Net Assets 2010: $86,984,1612010Assets 2011: $285,103,670Liabilities 2011: $189,760,554Net Assets 2011: $95,343,1162011Assets 2012: $307,241,706Liabilities 2012: $201,483,356Net Assets 2012: $105,758,3502012Assets 2013: $331,011,471Liabilities 2013: $206,124,774Net Assets 2013: $124,886,6972013Assets 2014: $328,249,629Liabilities 2014: $199,564,881Net Assets 2014: $128,684,7482014Assets 2015: $328,155,561Liabilities 2015: $192,651,129Net Assets 2015: $135,504,4322015Assets 2016: $339,525,017Liabilities 2016: $196,984,094Net Assets 2016: $142,540,9232016Assets 2017: $348,165,558Liabilities 2017: $207,907,185Net Assets 2017: $140,258,3732017Assets 2018: $344,002,224Liabilities 2018: $194,019,462Net Assets 2018: $149,982,7622018Assets 2019: $355,952,024Liabilities 2019: $193,957,441Net Assets 2019: $161,994,5832019Assets 2020: $367,655,761Liabilities 2020: $206,624,418Net Assets 2020: $161,031,3432020Assets 2021: $385,021,756Liabilities 2021: $217,276,255Net Assets 2021: $167,745,5012021Assets 2022: $421,037,619Liabilities 2022: $232,631,218Net Assets 2022: $188,406,4012022Assets 2023: $429,806,254Liabilities 2023: $240,157,589Net Assets 2023: $189,648,6652023Assets 2024: $481,165,027Liabilities 2024: $286,767,038Net Assets 2024: $194,397,9892024

Highlighted filing

2016

Assets$339,525,017
Liabilities$196,984,094
Net Assets$142,540,923
Open 2016 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0Expenses 2010: $124,502,3872010Expenses 2011: $135,054,3072011Revenue 2012: $126,121,311Expenses 2012: $125,064,949Net Income 2012: $1,056,3622012Revenue 2013: $146,913,084Expenses 2013: $145,914,211Net Income 2013: $998,8732013Revenue 2014: $152,116,432Expenses 2014: $151,582,350Net Income 2014: $534,0822014Revenue 2015: $149,235,230Expenses 2015: $149,042,230Net Income 2015: $193,0002015Revenue 2016: $145,619,982Expenses 2016: $145,437,509Net Income 2016: $182,4732016Revenue 2017: $143,240,079Expenses 2017: $142,971,635Net Income 2017: $268,4442017Revenue 2018: $161,731,170Expenses 2018: $161,459,976Net Income 2018: $271,1942018Revenue 2019: $157,141,570Expenses 2019: $156,972,407Net Income 2019: $169,1632019Revenue 2020: $147,957,625Expenses 2020: $147,879,398Net Income 2020: $78,2272020Revenue 2021: $162,953,403Expenses 2021: $162,760,208Net Income 2021: $193,1952021Revenue 2022: $236,177,875Expenses 2022: $234,659,350Net Income 2022: $1,518,5252022Revenue 2023: $201,369,793Expenses 2023: $200,552,254Net Income 2023: $817,5392023Revenue 2024: $197,727,488Expenses 2024: $197,263,529Net Income 2024: $463,9592024

Highlighted filing

2016

Revenue$145,619,982
Expenses$145,437,509
Net Income$182,473
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 3, 2017
Return Version
2016v3.0
Gross Receipts
$145,877,416
Mission and Program Overview

Mission

To provide electric service at a retail level to a designated six county rural service area at cost, on a cooperative basis.

Trinity Valley Electric Cooperative Inc is committed to deliver safe and reliable electric power at a competitive price

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$272,189,560$274,635,151▲ $2,445,591
Rtn Earn Endowment Incm Other Fnds$134,928,857$141,958,643▲ $7,029,786
Investments Program Related$38,601,193$43,432,421▲ $4,831,228
Accounts Receivable$6,121,930$6,840,464▲ $718,534
Cash and Non-Interest-Bearing Accounts$2,392,548$6,405,687▲ $4,013,139
Prepaid Expenses and Deferred Charges$3,678,808$2,910,348▼ $768,460
Inventories for Sale or Use$1,132,697$1,207,587▲ $74,890
Other Notes and Loans Receivable, Net$851,273$775,551▼ $75,722
Cap Stk Tr Prin Current Funds$575,575$582,280▲ $6,705
Savings and Temporary Cash Investments$500,000$512,502▲ $12,502
Total Assets$328,155,561$339,525,017▲ $11,369,456
Other Assets Total$2,687,552$2,805,306▲ $117,754
Liabilities
Mortgage Notes Payable Secured by Investment Property$146,055,973$147,498,919▲ $1,442,946
Other Liabilities$29,833,989$31,134,051▲ $1,300,062
Accounts Payable and Accrued Expenses$16,761,167$18,351,124▲ $1,589,957
Total Liabilities$192,651,129$196,984,094▲ $4,332,965
Net Assets / Fund Balance
Total Net Assets Fund Balance$135,504,432$142,540,923▲ $7,036,491
Total Liabilities and Net Assets / Fund Balance$328,155,561$339,525,017▲ $11,369,456

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$259,444,850$84,694,367$344,139,217
Equipment$3,600,792$6,995,943$10,596,735
Buildings$4,816,304$3,032,936$7,849,240
Land$6,773,205-$6,773,205
Investment Program Related Org$235,086--
Other Assets Org$22,750--
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerry BozeCEO General ManagerFT$290,969$95,118$386,087
Bryan WoodCFOFT$160,992$64,539$225,531
Tony WatsonCOOFT$149,742$68,694$218,436
Jeff LaneCCOFT$146,140$63,688$209,828
Jerry WoolstonManager of TechnologyFT$122,239$44,724$166,963
Gary SherrardSub Tran ManagerFT$103,394$56,631$160,025
Rodney WesleyOperations ManagerFT$111,762$43,838$155,600
Timothy CraigManager of EngineeringFT$113,098$38,653$151,751
Donna HindmanHR ManagerFT$110,726$36,133$146,859
Paul WeatherfordDirector-$27,861-$27,861
Jerry PriestDirectorPT$27,261-$27,261
Tom AtwoodFormer DirectorPT$16,063-$16,063
Carolyn MinorBoard ViceChairmanPT$14,550-$14,550
Edward ReeveDirector-$13,800-$13,800
Jo Ann HanstromBoard Secretary-$13,800-$13,800
Howard TillisonBoard ChairmanPT$13,500-$13,500
David LangDirector-$10,350-$10,350

Highest Paid Contractors

ContractorServicesLocationCompensation
J&L Utility ServicesOverhead Line ConstructionPO BOX 817, Edgewood, TX 75117$1,816,824
CS Tree ServicesRight of Way Clearing319 McArthur Street, Athens, TX 75751$1,552,308
Ramirez Tree ServicesRight of Way ClearingPO BOX 1975, Athens, TX 75751$1,535,195
Re-Con CorporationSubstation Construction12 NE 52nd ST, Oklahoma City, OK 73105$1,016,249
Mission Site ServicesUnderground Line Const416 Interchange ST, McKinney, TX 75069$978,638
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$139,257,714
Investment Income
$5,845,304
Other Revenue
$516,964
Change in Net Assets
$182,473

Audited Revenue Reconciliation

Revenue per Audited Statements
$145,619,982
Total Revenue per Audited Statements
$145,619,982
Total Revenue per Form 990
$145,619,982
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$134,774,871
Salaries, Compensation, and Employee Benefits$1,161,004
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$12,817,849
Benefits to Members---$9,501,634
Interest---$7,006,364
Other Expenses---$5,602,880
Current Officers, Directors, Trustees, and Key Employees---$1,161,004
All Other Expenses---$40,722
Total Functional Expenses$0$0$0$145,437,509

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$145,437,509
Expenses per Audited Statements$135,935,875
Total Expenses per Audited Statements$135,935,875
Expenses Not Reported on Financial Statements$9,501,634
Other Expense Adjustments$9,501,634
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prov PostRet Benefits$25,401,773
Consumer Deposits$3,735,608
Other Deferred Credits$1,457,838
Unamort Gain Reqd Debt$408,449
Aid to Construction$130,383
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“The Cooperative's Form 990 is provided to each officer and director”

Part VI Line 11B

“prior to the regularly scheduled board meeting preceding the filing”

Part VI Line 12C

“The conflict of interest policy is designed to help directors, officers and”

Part VI Line 12C

“employees identify & avoid situations that present potential conflicts”

Part VI Line 15A or B

“The Cooperative utilizes an independent compensation consulting firm and”

Part VI Line 15A or B

“compensation surveys when recommending compensation for all employees.”

Part VI Line 19

“The Form 990 is available to the public at www.guidestar.com. Copies of the”

Part VI Line 19

“Form 990, audited fin stmts, by-laws, & tariffs are avail at all offices.”

Part VI, Line 6

“Trinity Valley Electric Cooperative, Inc. is organized as a”

Part VI, Line 6

“not-for-profit corporation owned by its members. The members”

Part VI, Line 6

“elect the Cooperative governing body, and upon the”

Part VI, Line 6

“recommendation of the governing body, receive distributions”

Part VI, Line 6

“of margins or assets from the Cooperative in the form of”

Part VI, Line 6

“capital credit retirements.”

Part VI, Line 7A

“The members of the Cooperative vote on the Board of Directors”

Part VI, Line 7A

“elections are done on a one vote per member basis”

Part VI, Line 7B

“The following acts require approval of the members of the”

Part VI, Line 7B

“Cooperative: 1) Dissolution/Liquidation of the Cooperative,”

Part VI, Line 7B

“2) Merger or consolidation with another Cooperative”

Part VI, Line 7B

“organization, 3) Disposal of a substantial portion of the”

Part VI, Line 7B

“Cooperative's assets, and 4) Amendment to the Articles”

Part VI, Line 7B

“of Incorporation.”

Filing and Contact Details

Filer

Filer Name
Trinity Valley Electric Cooperative Inc
EIN
75-2701263
In Care Of
% Bryan A Wood
Phone
9729322214
Address
PO Box 888, Kaufman, TX 75142

Signing Officer

Name
Bryan a Wood
Title
CFO
Phone
9729322214
Signed
2017-05-03

Organization Details

Principal Officer
Jerry B Boze
Formed
1997
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
168
Supplemental Narrative

Additional Explanations

Part IX Line 24E

“Total expenses - $40722.00 Program service expenses - $0.00 Mgmt and general expenses - $0.00 Fundraising expenses - $0.00”

Part XI Line 9

“Changes in Equity not reflected in current period earnings of $6,854,018”

Part XI, Line 9

“Changes in equity not reflected in current period”

Part XI, Line 9

“earnings of (6,854,018) include the retirement of Patronage”

Part XI, Line 9

“Capital Credits to the Cooperative's members (-3,092,197),”

Part XI, Line 9

“annual adjustment to the Cooperative's provision for post-”

Part XI, Line 9

“retirement benefits as determined by an actuary”

Part XI, Line 9

“in accordance with SFAS 158 (437,877), 2016 margins”

Part XI, Line 9

“allocated to Patronage Capital (9,501,634), and an”

Part XI, Line 9

“increase in membership (6,705).”

Financial Statement Notes

P11, Ln 4B

“2016 Allocated Patronage Capital of $9,501,634 is included in”

P11, Ln 4B

“functional expenses on Form 990, but is not considered an”

P11, Ln 4B

“expense in the 2016 audited financial statements of the”

P11, Ln 4B

“Coop.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt1CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2COO
IRS990/Form990PartVIISectionAGrp/TitleTxt3CCO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Manager of Technology
IRS990/Form990PartVIISectionAGrp/TitleTxt5Operations Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt6Manager of Engineering
IRS990/Form990PartVIISectionAGrp/TitleTxt7Sub Tran Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt8HR Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt9Former Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board ViceChairman
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt084694367
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3Aid to Construction
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$339,525,017
Liabilities
$196,984,094
Net assets
$142,540,923
Revenue
$145,619,982
Expenses
$145,437,509
Net income
$182,473
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$481$287$194$198$197$0.46
2023Detailed filing. Detailed filing data is available for this year.$430$240$190$201$201$0.82
2022Detailed filing. Detailed filing data is available for this year.$421$233$188$236$235$1.52
2021Detailed filing. Detailed filing data is available for this year.$385$217$168$163$163$0.19
2020Detailed filing. Detailed filing data is available for this year.$368$207$161$148$148$0.08
2019Detailed filing. Detailed filing data is available for this year.$356$194$162$157$157$0.17
2018Detailed filing. Detailed filing data is available for this year.$344$194$150$162$161$0.27
2017Detailed filing. Detailed filing data is available for this year.$348$208$140$143$143$0.27
2016Detailed filing. Detailed filing data is available for this year.$340$197$143$146$145$0.18
2015Detailed filing. Detailed filing data is available for this year.$328$193$136$149$149$0.19
2014Detailed filing. Detailed filing data is available for this year.$328$200$129$152$152$0.53
2013Detailed filing. Detailed filing data is available for this year.$331$206$125$147$146$1.00
2012Summary only. Only limited summary data is available for this year.$307$201$106$126$125$1.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$285$190$95.3$135
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$273$187$87.0$125