Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
25 people listed on the 990; $3.7M paid to officers and key staff.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Mark Stallons | $414,462 | $396,221 | $379,194 | $350,708 | $304,070 |
| Bart Thurgood | — | — | $187,417 | $385,611 | $318,994 |
| Nathan Johnson | — | — | $169,010 | $339,832 | $265,281 |
| Angela Evans | — | $336,724 | — | — | — |
| Steve Morrison | — | $145,083 | $280,961 | $283,717 | $277,092 |
| Logan Gernet | $272,736 | $248,160 | $235,583 | $209,776 | — |
| Terri George | $257,316 | $211,759 | — | — | — |
| Mindy Morrow | — | — | $122,186 | $250,069 | $186,689 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Supplies reliable electricity and internet to cooperative members.
Questions for Valley Electric Association INC
Your first name shows with your question. Valley Electric Association INC answers here, for everyone.
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Prior to the membership approved bylaw amendments in 2018, the cooperative provided INTERNET/BROADBAND services to all subscribers on a non-patronage and unrelated business income basis. One of the membership approved bylaw amendments is to provide INTERNET/BROADBAND services to members on a patronage, nonprofit basis.
Solpower and solpower capital (solpower) are wholly owned subsidiaries of vea; solpower was formed in 2020 to provide solar power services to members of vea.
Providing electric energy to our members on a cooperative basis through the allocation of patronage capital. There were 25,236 active services at year end.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $6.8M | $7.1M |
| InvestmentsLn 11–13 | $9.2M | $9.9M |
| Land, buildings, equipmentLn 10c | $248.6M | $272.2M |
| Total assetsLn 16 | $331.8M | $352.8M |
| LiabilitiesLn 26 | $243.9M | $262.2M |
| Net assetsLn 32 | $87.8M | $90.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $141K | |||
| Grants to domestic individualsLn 2 | $28K | |||
| Benefits paid to or for membersLn 4 | $5.4M | |||
| Pay of current officers, directors and key staffLn 5 | $3.6M | |||
| Other salaries and wagesLn 7 | $8.8M | |||
| Pension plan contributionsLn 8 | $3.2M | |||
| Other employee benefitsLn 9 | $2.1M | |||
| Payroll taxesLn 10 | $879K | |||
| InterestLn 20 | $10.9M | |||
| Depreciation, depletion and amortizationLn 22 | $10.9M | |||
| Other expenses (24a–d)Ln 24 | $54.5M | |||
| All other expensesLn 24e | $1.5M | |||
| Total functional expensesLn 25 | $102.0M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $102.0M | $102.0M | −$26K | $90.6M | 990 PDF |
| FY2023 | $117.6M | $102.3M | $15.3M | $87.8M | 990 PDF |
| FY2022 | $99.9M | $95.7M | $4.1M | $72.4M | 990 PDF |
| FY2021 | $92.1M | $105.3M | −$13.2M | $68.5M | 990 PDF |
| FY2020 | $87.8M | $90.3M | −$2.5M | $81.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $102,012,938 revenue, 12 lines filed
Part VI · Governance 7 of 7 board members independent, 1 to look at
Part VIII · Statement of revenue $102,012,938 across 6 lines filed
Part IX · Statement of functional expenses $102,038,970 across 12 lines filed
Part X · Balance sheet $352,803,144 assets, 14 lines filed
Part XI · Reconciliation of net assets $90,640,538 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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