2024-04-30T16:17:12-07:00 2023-12-31 990 2023-01-01 810215971 NORVAL ELECTRIC COOPERATIVE INC NORV 4062289351 PO Box 951 Glasgow MT 59230 Marie Donaldson Office Manager 4062289351 2024-04-30 Marie Donaldson 999009999 1 1 11 0 AAL2 2023 2023-04-26 12:10:37Z Marie Donaldson PO Box 951 Glasgow MT 59230 8395274 0 X www.norval.coop X 1941 MT Electric Utility cooperative serving rural residences, farms, businesses and other industrial accounts located in Daniels, McCone, Phillips, Roosevelt and Valley Counties. 7 7 21 0 0 0 0 0 7647079 7979154 16479 36411 406429 379709 8069987 8395274 0 0 504629 397394 2491207 2389737 0 0 0 5074151 5608143 8069987 8395274 0 0 30343737 29999792 14418366 13058679 15925371 16941113 To provide electricity to rural farms, residences, businesses and other industrial entities in Northeastern Montana. 0 0 To provide electricity to rural farms, residences, businesses and other industrial entities in Northeast Montana. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 42 0 1 21 1 0 0 0 0 0 7979154 416120 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MT X Marie Donaldson 4062289351 PO Box 951 Glasgow MT 59230 Nicholas Dulaney Line Superintendent 45 X 130676 0 0 Doris Donaldson Office Manager 45 X 112856 0 0 Jayson Nelson Foreman 40 X 108377 0 0 Cody Odom Foreman 40 X 108321 0 0 Joseph Odom Foreman 40 0 X 102326 0 0 Rick Stahl Director 3 0 X X 5500 0 0 Chris Christensen President 15 0 X X 5100 0 0 Ronald Reddig Director 3 0 X X 4750 0 0 Richard Molvig Vice President 3 0 X X 4650 0 0 Rocky Kittleson Secretary/Treasurer 3 0 X X 4200 0 0 Sam Gundermann Director 3 0 X X 4050 0 0 Kevin Nelson Director 3 0 X X 2550 0 0 593356 0 0 8 0 0 0 TCH Construction PO Box 266 Glasgow MT 59230 URD Contractor 248040 1 0 Sale of Electricity 221000 7979154 7979154 0 0 0 0 0 0 7979154 36411 36411 0 0 0 0 0 0 0 0 0 0 0 0 0 0 G&T Capital Credits - CMEPC 221121 247272 247272 0 0 G&T Capital Credits - BEPC 221121 63826 63826 0 0 Other Capital Credits 900099 68611 68611 0 0 0 0 0 0 379709 8395274 8395274 0 0 397394 593356 965500 269578 429259 132044 61387 24435 17267 15515 19079 8033 552966 1361109 114552 Cost of Purchased Power 2323699 Property Tax 462082 Engineering 20826 627193 8395274 0 0 0 1746695 728701 121382 126463 886639 1055427 1772301 1688026 115693 120789 44439018 20891769 23060193 23547249 2554742 2685345 86092 47792 30343737 29999792 436177 298106 12031032 11861576 1951157 898997 14418366 13058679 X 0 0 0 0 15925371 16941113 15925371 16941113 30343737 29999792 0 0 0 1015742 0 0 X 0 1 X 1 0 218942 0 218942 876219 0 605956 270263 0 0 0 0 43343857 0 20285813 23058044 0 0 0 0 23547249 Invest in Assoc Org - Other Nongeneral Funds 16550 C Invest in Assoc Org - Patronage Capital 2450637 C Invest in Assoc Org - General Funds 218158 C 2685345 Consumer Deposits 146820 Consumer Energy Prepayments 158434 Consumer Construction Prepayments 99923 Accrued Vacation/PTO/Sick Leave 196213 Accrued Property Taxes 230573 Accrued Payroll Taxes 37034 Accrued Interest 30000 898997 Form 990, Part VI, Section A, Line 6 NorVal Electric is a cooperative organization whereas the member-consumers elect the Board of Directors to 3 year terms. Bylaws govern the organization and define when membership approval is needed on certain decisions. Typically, elections of the Board of Directors and decisions needing membership approval occur once a year during the Annual Meeting held the third week in October. Form 990, Part VI, Section A, Line 7a NorVal Electric is a cooperative organization whereas the member-consumers elect the Board of Directors to 3 year terms. Bylaws govern the organization and define when membership approval is needed on certain decisions. Typically, elections of the Board of Directors and decisions needing membership approval occur once a year during the Annual Meeting held the third week in October. Form 990, Part VI, Section A, Line 7b NorVal Electric is a cooperative organization whereas the member-consumers elect the Board of Directors to 3 year terms. Bylaws govern the organization and define when membership approval is needed on certain decisions. Typically, elections of the Board of Directors and decisions needing membership approval occur once a year during the Annual Meeting held the third week in October. Form 990, Part VI, Section B, Line 11b A copy of the 2023 Form 990 was provided to the Board of Directors at their regular monthly meeting prior to filing with the IRS. The Directors reviewed the Form 990 and management fielded questions they had. Form 990, Part VI, Section B, Line 12c Management is charged with monitoring the Conflict of Interest policy by approving payments to vendors and reviewing construction contracts. The Board of Directors review the check register on a regular basis during their monthly Board meetings. Form 990, Part VI, Section B, Line 15 The President of the Board of Directors conducts a review of the General Manager before the end of each year. All Board members are present for the review. The Board of Directors determine the compensation level for the General Manager at this time. Form 990, Part VI, Section C, Line 19 NorVal Electric Bylaws are provided to each new member in a booklet form or electronically. The Bylaws are also available on NorVal's website. The Conflict of Interest policy is available upon request. Financial statements are provided to each member as part of the Annual Meeting booklet mailed out each year. They are also available upon request.