Golden Valley Electric Assn Inc

Fairbanks, AK
Tax-exempt since May 1954
EIN: 92-0014712

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2022 tax filing, this nonprofit:

Provided first-class or charter travel

Organization provided first-class or charter travel to key employees or officers. Details are reported on Schedule J.

Revenue

$290M (2022)

Expenses

$287M (2022)

Total Assets

$748M (2022)

Total Liabilities

$479M (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings and Audits by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Audits are required to be submitted by nonprofit organizations that spend $750,000 or more in federal grant money in a fiscal year. "Single audits" look at the entire organization's finances and compliance, while other audits are program specific. Nonprofit Explorer has PDFs of audits for some nonprofits for fiscal year 2015 and later. Audit data is from the Federal Audit Clearinghouse.

Fiscal Year Ending Dec.
2022

Revenue

$290,488,698

Expenses

$286,809,541

Net Income

$3,679,157

Net Assets

$269,653,773

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$25,750	0.0%
Program Services	$286,831,204	98.7%
Investment Income	$919,164	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$692,406	0.2%
Net Fundraising	$0
Sales of Assets	$2,049,091	0.7%
Net Inventory Sales	$52,895	0.0%
Other Revenue	-$81,812

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,152,334	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$22,856,363	8.0%

Assets/Debt
Total Assets	$748,155,757
Total Liabilities	$478,501,984
Net Assets	$269,653,773

Club or Co-Op Income
Income From Members	$282,561,255
Income From Other Sources	$4,845,468

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John Burns (President & Ceo)	$381,092	$0	$147,295
Sarah J Rixie (Cfo)	$222,117	$0	$94,279
Ian Olesen (Lineman Journeymen)	$215,742	$0	$74,111
Benjamin Porter (Lineman Journeyman)	$215,195	$0	$73,291
Daniel Bishop (Director Of Engineering Svcs)	$212,668	$0	$46,748
Marc Dugas (Lineman Journeyman)	$207,862	$0	$72,562
Joseph Waggoner (Lineman Journeyman)	$207,752	$0	$72,008
Peter Sarauer (Power Systems Manager)	$205,164	$0	$100,900
Christopher Forrest (Director Of Power Supply)	$180,689	$0	$86,751
Abbigail Dillard (Director Of Member Services)	$176,510	$0	$80,007
Shannon Telling (Director Of Information Tech.)	$167,352	$0	$30,549
Naomi Morton Knight Former (Environmental Officer)	$160,854	$0	$83,197
Reagan Russell (Director Of Human Resources)	$156,932	$0	$79,449
Frank Perkins Terminated (Vp Of Power Supply)	$155,233	$0	$46,604
Nathaniel Minnema (Director Of Operations)	$152,772	$0	$75,552
Joshua Davis Terminated (Director Of Operations)	$144,127	$0	$59,130
Ronald E Woolf Terminated (Cfo)	$58,575	$0	$8,230
Gary C Newman (Secretary)	$29,075	$0	$0
Thomas P De Long (Chairman)	$23,275	$0	$0
Richard J Solie Jr (Director)	$22,700	$0	$0
David Pelunis Messier (Treasurer)	$21,400	$0	$0
Todd M Adams (Director)	$17,775	$0	$0
Christopher M Bunch (Director)	$14,300	$0	$0
John K Sloan (Vice Chairman)	$9,450	$0	$0
Fredrick W Sheen (Director)	$7,650	$0	$0

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990

Filed on Nov. 15, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$261,622,497

Expenses

$257,770,222

Net Income

$3,852,275

Net Assets

$255,645,986

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$257,292,438	98.3%
Investment Income	$1,331,657	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$478,492	0.2%
Net Fundraising	$0
Sales of Assets	$2,345,508	0.9%
Net Inventory Sales	$0
Other Revenue	$174,402	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,813,993	0.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$22,388,656	8.7%

Assets/Debt
Total Assets	$748,489,323
Total Liabilities	$492,843,337
Net Assets	$255,645,986

Club or Co-Op Income
Income From Members	$253,099,845
Income From Other Sources	$5,596,163

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John Burns (President & Ceo)	$347,027	$0	$145,684
Ronald E Woolf (Cfo)	$261,092	$0	$104,298
Frank Perkins (Vp Operations)	$248,379	$0	$109,065
Pete Sarauer (Power Systems Manager)	$198,442	$0	$95,303
Richard Lusby (Healy Plant Manager)	$193,846	$0	$76,021
John H Kelly (Gas Turbine Plant Manager)	$189,728	$0	$70,293
Daniel Bishop (Engineering Services Manager)	$189,041	$0	$104,029
David H Brown (Assistant Healy Plant Manager)	$179,924	$0	$83,110
Joshua Davis (Operations Director)	$166,956	$0	$76,563
Naomi Morton Knight (Director Of Engineering Servic)	$157,078	$0	$78,050
Thomas P De Long (Chairman)	$20,550	$0	$0
Gary C Newman (Secretary)	$19,528	$0	$0
John K Sloan (Vice Charman)	$18,825	$0	$0
David Pelunis Messier (Treasurer)	$16,625	$0	$0
Richard J Solie Jr (Director)	$14,680	$0	$0
Christopher M Bunch (Director)	$13,371	$0	$0
Bradley Jay Benson (Director)	$10,440	$0	$0
Todd M Adams (Director)	$5,782	$0	$0

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990

Filed on Nov. 16, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$242,508,508

Expenses

$239,567,195

Net Income

$2,941,313

Net Assets

$228,066,051

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$239,597,331	98.8%
Investment Income	$1,425,374	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$507,028	0.2%
Net Fundraising	$0
Sales of Assets	$138,442	0.1%
Net Inventory Sales	$0
Other Revenue	$840,333	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,188,380	1.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$22,190,605	9.3%

Assets/Debt
Total Assets	$736,665,549
Total Liabilities	$508,599,498
Net Assets	$228,066,051

Club or Co-Op Income
Income From Members	$236,608,998
Income From Other Sources	$7,336,305

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John Burns (President & Ceo)	$296,953	$0	$167,061
Ronald E Woolf (Vp Finance & Cfo)	$282,536	$0	$140,691
Frank Perkins (Vp Power Supply)	$261,112	$0	$72,856
Monica Grassi (Vp Member Services Terminate)	$250,951	$0	$119,314
Pete Sarauer (Power Systems Manager)	$225,690	$0	$100,539
Gary P Betsill (Vp Operations Terminated)	$215,956	$0	$88,996
Leo I Quiachon (Vp Engineering Services Term)	$209,835	$0	$81,744
Daniel Bishop (Engineering Services Manager)	$203,933	$0	$132,325
John H Kelly (Gas Turbine Plant Manager)	$203,193	$0	$90,512
Richard Lusby (Healy Plant Manager)	$200,264	$0	$90,465
William Kirkenir (Vp Strat. Dev. Terminated)	$197,009	$0	$8,754
Richard J Piech (Operations Manager)	$190,878	$0	$106,534
Joshua Davis (Director Of Operations)	$168,046	$0	$86,614
Nathan Minnema (Director Of Engineering)	$150,653	$0	$81,173
Cory R Borgeson (President & Ceo Terminated)	$132,408	$0	$48,426
Tom De Long (Chairman)	$22,700	$0	$0
John K Sloan (Vice Chairman)	$21,640	$0	$0
Gary C Newman (Secretary)	$18,001	$0	$0
David Pelunis Messier (Treasurer)	$15,801	$0	$0
William D Nordmark (Director Terminated)	$14,196	$0	$0
Christopher M Bunch (Director)	$12,915	$0	$0
Rick Schikora (Director Terminated)	$12,673	$0	$0
Richard J Solie Jr (Director)	$5,925	$0	$0
Bradley Jay Benson (Director)	$3,440	$0	$0

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990

Filed on Nov. 15, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$247,101,009

Expenses

$242,098,066

Net Income

$5,002,943

Net Assets

$217,343,788

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$242,202,998	98.0%
Investment Income	$3,686,825	1.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$512,482	0.2%
Net Fundraising	$0
Sales of Assets	$299,093	0.1%
Net Inventory Sales	$0
Other Revenue	$399,611	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,119,659	1.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$22,034,063	9.1%

Assets/Debt
Total Assets	$743,846,732
Total Liabilities	$526,502,944
Net Assets	$217,343,788

Club or Co-Op Income
Income From Members	$237,555,674
Income From Other Sources	$9,292,196

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory Borgeson (President & Ceo)	$458,532	$0	$190,258
John Burns (Vp And General Counsel)	$296,953	$0	$166,904
Gary Betsill (Vp Operations)	$293,799	$0	$150,480
Leo Quiachon (Vp Engineering Services)	$272,422	$0	$143,127
Ronald Woolf (Vp Finance & Cfo)	$269,419	$0	$165,482
Peter Sarauer (Power Systems Manager)	$216,489	$0	$130,353
Daniel Bishop (Engineering Services Manager)	$195,722	$0	$162,921
Monica Grassi (Vp Member Services)	$192,955	$0	$117,276
John Kelly (Gas Turbine Plant Manager)	$189,306	$0	$98,705
Richard Lusby (Healy Plant Manager)	$189,167	$0	$97,443
Richard Piech (Operations Manager)	$186,892	$0	$115,649
Brian Youngberg (Vp Member Services (Former))	$150,906	$0	$116,316
Rick Schikora (Director)	$22,860	$0	$0
William Nordmark (Treasurer)	$21,940	$0	$0
Tom De Long (Chairman)	$21,565	$0	$0
John Sloan (Secretary)	$20,200	$0	$0
Gary Newman (Vice Chairman)	$19,028	$0	$0
Chris Bunch (Director)	$14,876	$0	$0
David Messier (Director)	$14,360	$0	$0

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990

Filed on Nov. 17, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$251,998,224

Expenses

$250,014,827

Net Income

$1,983,397

Net Assets

$208,387,462

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$250,563,368	99.4%
Investment Income	$4,262,722	1.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$449,100	0.2%
Net Fundraising	$0
Sales of Assets	-$3,264,724
Net Inventory Sales	$0
Other Revenue	-$12,242

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,779,220	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$21,638,208	8.7%

Assets/Debt
Total Assets	$742,947,778
Total Liabilities	$534,560,316
Net Assets	$208,387,462

Club or Co-Op Income
Income From Members	$246,105,689
Income From Other Sources	$13,944,763

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory Borgeson (President & Ceo)	$444,773	$0	$161,525
Gary Betsill (Vp Operations)	$303,478	$0	$103,305
John Burns (Vp And General Counsel)	$284,614	$0	$128,620
Leo Quiachon (Vp Engineering Services)	$259,825	$0	$53,283
Ronald Woolf (Vp Finance & Cfo)	$252,213	$0	$128,112
Brian Youngberg (Vp Member Services)	$237,634	$0	$257,783
Peter Sarauer (Power Systems Manager)	$204,166	$0	$32,851
Paul Morgan (Gas Turbine Plant Manager)	$197,860	$0	$137,591
Daniel Bishop (Mgr Engineering Services)	$183,285	$0	$107,826
Richard Piech (Operations Manager)	$181,139	$0	$37,793
Ian Olesen (Lineman)	$175,568	$0	$23,021
William Nordmark (Treasurer)	$31,010	$0	$0
Rick Schikora (Chairman)	$30,150	$0	$0
Tom De Long (Vice Chairman)	$25,939	$0	$0
John Sloan (Secretary)	$25,900	$0	$0
Gary Newman (Director)	$20,178	$0	$0
David Messier (Director)	$18,154	$0	$0
Chris Bunch (Director)	$12,726	$0	$0

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990

Filed on Nov. 15, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$247,518,970

Expenses

$243,516,991

Net Income

$4,001,979

Net Assets

$213,182,638

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$243,664,217	98.4%
Investment Income	$3,580,423	1.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$392,153	0.2%
Net Fundraising	$0
Sales of Assets	-$113,110
Net Inventory Sales	$0
Other Revenue	-$4,713

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,437,836	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$18,734,629	7.7%

Assets/Debt
Total Assets	$728,297,266
Total Liabilities	$515,114,628
Net Assets	$213,182,638

Club or Co-Op Income
Income From Members	$242,820,727
Income From Other Sources	$12,352,908

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory Borgeson (President & Ceo)	$397,940	$0	$46,130
John Burns (Vp And General Counsel)	$272,604	$0	$38,188
Lynn Thompson (Vp Power Supply)	$240,308	$0	$105,888
Ronald Woolf (Vp Finance & Cfo)	$237,226	$0	$50,152
Brian Youngberg (Vp Member Services)	$211,868	$0	$154,969
Gary Betsill (Vp Operations)	$190,894	$0	$12,113
Paul Morgan (Gas Turbine Plant Manager)	$187,774	$0	$25,579
Daniel Bishop (Mgr Engineering Services)	$187,130	$0	$114,658
Richard Piech (Operations Manager)	$181,872	$0	$35,930
Pete Sarauer (Power Systems Manager)	$181,568	$0	$31,195
Sheila Swanguarin (Accounting Manager)	$157,970	$0	$33,414
William Nordmark (Director)	$27,470	$0	$0
Rick Schikora (Chairman)	$25,060	$0	$0
Tom De Long (Vice Chairman)	$23,354	$0	$0
John Sloan (Secretary)	$20,700	$0	$0
Gary Newman (Director)	$16,859	$0	$0
Chris Bunch (Director)	$13,726	$0	$0
Aren Gunderson (Treasurer)	$10,120	$0	$0
David Messier (Director)	$5,187	$0	$0

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990

Filed on Nov. 15, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$242,676,241

Expenses

$231,992,426

Net Income

$10,683,815

Net Assets

$193,543,073

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$229,329,190	94.5%
Investment Income	$2,101,150	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$442,210	0.2%
Net Fundraising	$0
Sales of Assets	$10,775,070	4.4%
Net Inventory Sales	$0
Other Revenue	$28,621	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,744,816	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$19,104,568	8.2%

Assets/Debt
Total Assets	$733,247,680
Total Liabilities	$539,704,607
Net Assets	$193,543,073

Club or Co-Op Income
Income From Members	$227,959,358
Income From Other Sources	$27,294,437

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory R Borgeson (President & Ceo)	$474,638	$0	$77,945
Ronald E Woolf (Vp Finance & Cfo)	$267,719	$0	$73,422
Lynn N Thompson (Vp Power Supply)	$223,150	$0	$105,765
Brian L Youngberg (Vp Member Services)	$195,277	$0	$123,232
Paul C Morgan (Gas Turbine Plant Manager)	$176,446	$0	$70,767
Richard J Piech (Operations Managers)	$173,178	$0	$54,488
Daniel Bishop (Mgr Engineering Services)	$170,940	$0	$96,002
Ian A Wiedmaier (Lineman Job Foreman)	$151,994	$0	$41,336
Ian P Olesen (Lineman Journeyman)	$146,322	$0	$48,179
Michael J Wright (Vp Transmission & Distribution)	$133,509	$0	$9,537
William Nordmark (Director)	$40,249	$0	$0
Rick Schikora (Chairman)	$32,195	$0	$0
Gary Newman (Director)	$30,482	$0	$0
John Sloan (Secretary)	$28,335	$0	$0
Tom De Long (Vice Chairman)	$27,470	$0	$0
Aren Gunderson (Treasurer)	$24,476	$0	$0
Chris Bunch (Director)	$20,461	$0	$0

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990

Filed on Nov. 11, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$229,509,655

Expenses

$208,835,517

Net Income

$20,674,138

Net Assets

$168,479,660

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$209,134,033	91.1%
Investment Income	$1,399,691	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$90,330	0.0%
Net Fundraising	$0
Sales of Assets	$18,860,173	8.2%
Net Inventory Sales	$0
Other Revenue	$25,428	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,159,759	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$16,267,545	7.8%

Assets/Debt
Total Assets	$718,455,482
Total Liabilities	$549,975,822
Net Assets	$168,479,660

Club or Co-Op Income
Income From Members	$206,254,809
Income From Other Sources	$28,477,521

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory R Borgeson (President & Ceo)	$369,323	$0	$190,357
Thomas K Hartnell (Vp Admin Services)	$251,260	$0	$102,887
Lynn N Thompson (Vp Power Supply)	$246,287	$0	$161,029
Ronald E Woolf (Vp Finance & Cfo)	$219,739	$0	$121,894
Michael J Wright (Vp Transm & Distrib)	$211,934	$0	$183,383
Ian A Wiedmaier (Lineman Job Foreman)	$163,254	$0	$68,891
Paul C Morgan (Gas Turbine Plant Manager)	$162,509	$0	$201,434
Benjamin H Porter (Lineman Journeyman)	$160,207	$0	$71,655
Ian P Olesen (Lineman Journeyman)	$158,013	$0	$73,181
Allen J Gray (Power Systems Manager)	$157,795	$0	$103,676
William Nordmark (Chairman)	$41,934	$0	$0
Rick Schikora (Treasurer)	$34,864	$0	$0
John Sloan (Secretary)	$28,904	$0	$0
Tom De Long (Vice Chairman)	$25,985	$0	$0
Chris Bunch (Director)	$23,225	$0	$0
Aren Gunderson (Director)	$22,970	$0	$0
Franklin Eagle (Director Thru June)	$20,452	$0	$0
Gary Newman (Director From June)	$13,392	$0	$0
Jeffrey P Yauney (Former Key Employee)	$0	$515,399	$226,737

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990

Filed on Nov. 15, 2016

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Audits

Audit for a nonprofit that spends $750,000+ in federal grant money in a fiscal year

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Fiscal Year Ending Dec.
2014

Revenue

$235,695,767

Expenses

$234,011,998

Net Income

$1,683,769

Net Assets

$142,144,120

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$234,387,732	99.4%
Investment Income	$1,189,238	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$148,402	0.1%
Net Fundraising	$0
Sales of Assets	-$26,440
Net Inventory Sales	$0
Other Revenue	-$3,165

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,928,321	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$16,260,929	6.9%

Assets/Debt
Total Assets	$651,740,444
Total Liabilities	$509,596,324
Net Assets	$142,144,120

Club or Co-Op Income
Income From Members	$231,954,576
Income From Other Sources	$12,839,392

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory R Borgeson (President & Ceo)	$356,448	$0	$147,842
Thomas K Hartnell (Vp Admin Services)	$207,033	$0	$107,286
Michael J Wright (Vp Transm & Distribution)	$203,776	$0	$177,994
Lynn N Thompson (Vp Power Supply)	$185,138	$0	$145,899
Ronald E Woolf (Vp Finance & Cfo)	$163,411	$0	$117,544
Paul C Morgan (Gas Turbine Plant Manager)	$153,740	$0	$174,095
Phil C Schulz (Foreman Lineman)	$151,941	$0	$119,034
Allen J Gray (Power System Manager)	$148,349	$0	$92,839
Mark A Terhune (Foreman Wireman)	$145,058	$0	$127,723
Richard J Piech (Operations Manager)	$144,153	$0	$104,842
William Nordmark (Chairman Director)	$50,392	$0	$0
Rick Schikora (Treasurer Director)	$38,542	$0	$0
Franklin Eagle (Director)	$30,565	$0	$0
John Sloan (Secretary Director)	$25,443	$0	$0
Aren Gunderson (Director)	$25,167	$0	$0
Tom Delong (Vice Chairman Director)	$24,847	$0	$0
Chris Bunch (Director)	$22,803	$0	$0
Jeffery P Yauney (Former Key Employee)	$0	$396,278	$149,851

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990

Filed on Nov. 5, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$242,711,255

Expenses

$241,265,112

Net Income

$1,446,143

Net Assets

$142,028,425

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$241,506,561	99.5%
Investment Income	$942,673	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$266,331	0.1%
Net Fundraising	$0
Sales of Assets	-$12,099
Net Inventory Sales	$0
Other Revenue	$7,789	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,849,361	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$16,713,573	6.9%

Assets/Debt
Total Assets	$615,310,365
Total Liabilities	$473,281,940
Net Assets	$142,028,425

Club or Co-Op Income
Income From Members	$239,089,356
Income From Other Sources	$13,535,720

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Cory R Borgeson (President & Ceo)	$311,159	$0	$75,918
David R Hoffman (Healy Plant Manager)	$217,558	$0	$111,040
Michael J Wright (Vp Transm & Distrib)	$192,912	$0	$168,949
Thomas K Hartnell (Vp Admin Services)	$190,527	$2,000	$134,281
Searl L Burnett (Foreman Lineman)	$167,317	$0	$135,503
Lynn N Thompson (Vp Power Supply)	$164,196	$0	$133,090
Greg E Wyman (Manager Construction Services)	$155,828	$0	$116,614
Joshua R Parsons (Journeyman Lineman)	$154,890	$0	$58,480
Phil C Schulz (Foreman Lineman)	$152,085	$0	$131,440
Ronald E Woolf (Controller)	$144,800	$0	$122,302
David W Gardner (Vp Mbr Srvs Former Key Ee)	$135,335	$0	$201,732
Rick Schikora (Treasurer Director)	$47,221	$0	$0
William Nordmark (Chairman Director)	$37,406	$0	$0
Franklin Eagle (Director)	$30,612	$0	$0
John Sloan (Secretary Director)	$25,715	$0	$0
Tom De Long (Vice Chairman Director)	$24,391	$0	$0
Aren Gunderson (Director)	$22,735	$0	$0
Ronald Bergh (Director Through June)	$16,259	$0	$0
Chris Bunch (Director Since June)	$6,890	$0	$0
Jeffrey P Yauney (Vp Cns Former Key Employee)	$0	$307,219	$129,216

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990

Filed on Sept. 28, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

View Filing (2 of 2) PDF (2 of 3) PDF (3 of 3)

Fiscal Year Ending Dec.
2012

Revenue

$270,888,962

Expenses

$268,651,552

Net Income

$2,237,410

Net Assets

$127,484,921

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$269,542,647	99.5%
Investment Income	$912,446	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$379,776	0.1%
Net Fundraising	$0
Sales of Assets	$52,151	0.0%
Net Inventory Sales	$0
Other Revenue	$1,942	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,375,156	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$15,530,020	5.8%

Assets/Debt
Total Assets	$583,176,679
Total Liabilities	$455,691,758
Net Assets	$127,484,921

Club or Co-Op Income
Income From Members	$266,605,048
Income From Other Sources	$14,769,045

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 3) PDF (3 of 3)

Fiscal Year Ending Dec.
2011

Revenue

$247,797,131

Expenses

$246,450,155

Net Income

$1,346,976

Net Assets

$121,719,296

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$245,810,078	99.2%
Investment Income	$1,592,595	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$325,505	0.1%
Net Fundraising	$0
Sales of Assets	$92,778	0.0%
Net Inventory Sales	$0
Other Revenue	-$23,825

Notable Expenses		Percent of Total Expenses
Executive Compensation	$2,239,258	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$15,837,374	6.4%

Assets/Debt
Total Assets	$489,380,839
Total Liabilities	$367,661,543
Net Assets	$121,719,296

Club or Co-Op Income
Income From Members	$243,236,851
Income From Other Sources	$12,968,460

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated October 30, 2024

Golden Valley Electric Assn Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $290M (2022)

Expenses $287M (2022)

Total Assets $748M (2022)

Total Liabilities $479M (2022)

Tax Filings and Audits by Year

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Audits

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

Revenue

$290M (2022)

Expenses

$287M (2022)

Total Assets

$748M (2022)

Total Liabilities

$479M (2022)

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004