2024-11-08T07:17:50-06:00 2023-12-31 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 462045108 990 2023-01-01 351274565 WABASH VALLEY POWER ASSOCIATION INC WABA 3174812800 6702 INTECH BLVD INDIANAPOLIS IN 46278 THERESA YOUNG COO 3174812800 2024-11-07 1 1 JEFFREY FRANK P00287234 3174648600 2023 2024-10-15 13:58:12Z WABASH VALLEY POWER ALLIANCE JEFFREY A CONRAD 6702 INTECH BLVD INDIANAPOLIS IN 46278 787663308 0 X WWW.WVPA.COM X 1963 IN WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE WHICH EXISTS TO SUPPLY AND DELIVER WHOLESALE POWER TO MEET THE NEEDS OF ITS ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. 23 23 121 0 0 0 0 0 920154233 776732641 14559339 10919984 10025 10683 934723597 787663308 0 0 0 0 11347585 11939552 0 0 0 910539801 745799165 921887386 757738717 12836211 29924591 1598590270 1562139754 1323287342 1259336826 275302928 302802928 WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE WHICH EXISTS TO SUPPLY AND DELIVER WHOLESALE POWER TO MEET THE NEEDS OF ITS ELECTRIC DISTRIBUTION COOPERATIVE MEMBERS. 0 0 THE EXEMPT PURPOSE OF WABASH VALLEY POWER ASSOCIATION, INC. IS TO PROVIDE ELECTRICITY TO ITS MEMBERS. 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 2 0 1 121 1 0 0 0 0 0 166997000 -26232000 0 0 0 X 23 23 0 0 0 0 1 1 1 1 1 0 0 0 1 0 0 1 1 1 1 1 0 CA GA IN X THERESA YOUNG COO 3174812800 6702 INTECH BLVD INDIANAPOLIS IN 46278 DENNIS BURTON DIRECTOR 7.00 0.00 X 27300 0 0 DOUGLAS H BURNWORTH DIRECTOR 6.00 0.00 X 24900 0 0 KENNETH D DENTON DIRECTOR 7.00 0.00 X 22500 0 0 BART NESIUS DIRECTOR 4.00 0.00 X 20100 0 0 TINA DAVIS DIRECTOR 3.00 0.00 X 19800 0 0 PHILIP M HAYES DIRECTOR 3.00 0.00 X 15600 0 0 ALAN SCHLAGENHAUF DIRECTOR 4.00 0.00 X 15300 0 0 SHANE RASLER DIRECTOR 4.00 0.00 X 14400 0 0 DAVID JANNEY DIRECTOR 5.00 0.00 X 14100 0 0 NOEL KENDALL DIRECTOR 3.00 0.00 X 14100 0 0 ANTHONY FLEMING DIRECTOR 3.00 0.00 X 13800 0 0 FRANK KOBILSEK DIRECTOR 5.00 0.00 X 12600 0 0 JON RETTINGER DIRECTOR 4.00 0.00 X 12000 0 0 LARRY JACK DIRECTOR 5.00 0.00 X 12000 0 0 RICK RISLEY DIRECTOR 3.00 0.00 X 12000 0 0 MICHAEL P CONNER DIRECTOR 2.00 0.00 X 11100 0 0 ROBERT LEHMANN DIRECTOR (THRU 10/2023) 1.00 0.00 X 9300 0 0 RODNEY SCHERER DIRECTOR 4.00 0.00 X 9000 0 0 KEVIN COX DIRECTOR (BEG. 05/2023) 2.00 0.00 X 8400 0 0 CLAYTON DANIEL GARD JR DIRECTOR 1.00 0.00 X 6600 0 0 KIRK ALTER DIRECTOR 2.00 0.00 X 6000 0 0 MATT HESSION DIRECTOR (BEG. 05/2023) 1.00 0.00 X 6000 0 0 JIM SAVAGE DIRECTOR 1.00 0.00 X 5100 0 0 HAL D TRUAX DIRECTOR (THRU 04/2023) 1.00 0.00 X 2400 0 0 DOUG BROWN DIRECTOR (THRU 04/2023) 1.00 0.00 X 1500 0 0 CHARLES HUEBENER DIRECTOR (BEG. 11/2023) 1.00 0.00 X 1200 0 0 JEFF CONRAD PRESIDENT AND CEO 40.00 0.00 X 674367 0 108474 THERESA YOUNG COO 40.00 0.00 X 338995 0 33585 JASON MARSHALL EXEC. VP, RISK, COMP & REG AFFAIRS 40.00 0.00 X 327274 0 41065 MATTHEW MOORE EXEC. VP, POWER SUPPLY 40.00 0.00 X 316555 0 39138 CURTIS TAYLOR EXEC. VP, TECHNOLOGY SERVICES 40.00 0.00 X 300572 0 32968 JEFF HUME VP, STRAT. ELEC. & MEM. RELATIONS 40.00 0.00 X 154369 0 17075 ALBERT TAYLOR DIRECTOR OF GENERATION 40.00 0.00 X 205050 0 13547 RICHARD MULLEN DIRECTOR, FIELD OPERATIONS 40.00 0.00 X 204791 0 30556 SPENCER HOUSE DIRECTOR OF SYSTEM OPERATIONS 40.00 0.00 X 189146 0 34869 JOAN SOLLER DIRECTOR, RISK MGMT. & REG. AFFAIRS 40.00 0.00 X 178911 0 29685 CHRIS DANIELS DIRECTOR OF ENGINEERING 40.00 0.00 X 174114 0 32913 KATHY SCHEMBS JOYCE FORMER KEY EMPLOYEE 0.00 0.00 X 197854 0 0 3579098 0 413875 44 1 1 0 BURNS MCDONNELL ENGINEERING COMPANY 9400 WARD PARKWAY KANSAS CITY MO 64114 CONSTRUCTION SERVICES 34654550 DUKE ENERGY INDIANA LLC 1000 EAST MAIN ST PLAINFIELD IN 46168 MANAGEMENT FEES 17099411 LINETEC SERVICES LLC PO BOX 13650 ALEXANDRIA LA 71315 CONSTRUCTION SERVICES 11775215 EMERALD ENERGY EXPLORATION LAND COM 1402 PALMER ST CORBIN KY 40701 CONSTRUCTION SERVICES 5514449 WASTE MANAGEMENT OF INDIANA LLC 124 TWIN BRIDGES RD DANVILLE IN 46122 MANAGEMENT FEES 4619238 88 SALES OF ELECTRICITY 221000 741632497 741632497 SALES OF TRANS. & DIST 221000 17361575 17361575 EMISSION ALLOW. SALE 221000 15153099 15153099 2585470 2585470 776732641 9935548 9935548 10683 0 10683 10683 10683 984436 0 984436 984436 984436 787663308 777717077 0 9946231 2701537 6314531 2378489 544995 2872608 228668 1592278 797491 4500441 344896 176626 472119 46803038 60213276 PURCHASED POWER EXPENSE 483273222 OP. & MAIN. EXPENSE 77509406 FUEL EXPENSE 65015561 MISCELLANEOUS EXPENSES 1999535 757738717 133708570 129438166 106865761 87557242 1731762 1696945 20167030 23837666 316602048 226086286 1743016193 673285228 975592306 1069730965 20085355 21698536 23837438 2093948 1598590270 1562139754 134304931 207782843 262465493 178026795 25950000 25750000 898753590 846017651 1813328 1759537 1323287342 1259336826 X 0 0 13000000 30000000 262302928 272802928 275302928 302802928 1598590270 1562139754 X 29924591 -2424591 X 0 1 X 1 0 18000 0 18000 18000 1 INDIANA FORE 11805 N PENNSYLVANIA ST CARMEL IN 46032 351998087 18000 PART I-A, LINE 1: MADE A PAYMENT TO IEC FOR A POLITICAL CONTRIBUTION TO INDIANA FORE (FRIENDS OF RURAL ELECTRIFICATION). 25010866 25010866 18521972 10471460 8050512 1583306427 654914245 928392182 116176928 7899523 108277405 1069730965 OPERATING LEASE LIABILITIES 1759537 1759537 X PART X, LINE 2: THE COMPANY HAS ADOPTED GUIDANCE GOVERNING UNCERTAIN INCOME TAX POSITIONS THAT SETS FORTH RECOGNITION THRESHOLDS AND MEASUREMENT ATTRIBUTES FOR FINANCIAL STATEMENT RECOGNITION. THE GUIDANCE DID NOT RESULT IN THE RECORDING OF ANY UNCERTAIN TAX POSITION LIABILITIES AS OF DECEMBER 31, 2023 AND 2022. TAX YEARS 2020 THROUGH 2023 REMAIN OPEN AND COULD BE SUBJECT TO AUDIT BY THE IRS. X X X X X 0 1 0 JEFF CONRAD PRESIDENT AND CEO 627182 0 0 0 47185 0 73683 0 34791 0 782841 0 0 0 THERESA YOUNG COO 288044 0 7094 0 43857 0 6535 0 27050 0 372580 0 0 0 JASON MARSHALL EXEC. VP, RISK, COMP & REG AFFAIRS 306654 0 0 0 20620 0 6034 0 35031 0 368339 0 0 0 MATTHEW MOORE EXEC. VP, POWER SUPPLY 299559 0 7062 0 9934 0 6183 0 32955 0 355693 0 0 0 CURTIS TAYLOR EXEC. VP, TECHNOLOGY SERVICES 241761 0 7094 0 51717 0 5765 0 27203 0 333540 0 0 0 RICHARD MULLEN DIRECTOR, FIELD OPERATIONS 193520 0 2298 0 8973 0 0 0 30556 0 235347 0 0 0 SPENCER HOUSE DIRECTOR OF SYSTEM OPERATIONS 186630 0 0 0 2516 0 0 0 34869 0 224015 0 0 0 ALBERT TAYLOR DIRECTOR OF GENERATION 203108 0 0 0 1942 0 0 0 13547 0 218597 0 0 0 JOAN SOLLER DIRECTOR, RISK MGMT. & REG. AFFAIRS 176383 0 0 0 2528 0 0 0 29685 0 208596 0 0 0 CHRIS DANIELS DIRECTOR OF ENGINEERING 173643 0 0 0 471 0 0 0 32913 0 207027 0 0 0 KATHY SCHEMBS JOYCE FORMER KEY EMPLOYEE 0 0 0 0 197854 0 0 0 0 0 197854 0 0 0 JEFF HUME VP, STRAT. ELEC. & MEM. RELATIONS 147806 0 0 0 6563 0 2292 0 14783 0 171444 0 0 0 PART I, LINE 4B ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO SUPPLEMENTAL NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR TO ANY LISTED PERSONS IN PART VII. A INDIANA FINANCE AUTHORITY 351602316 000000000 2010-12-17 40000000 CAPITAL IMPROVEMENT IN VIGO COUNTY INDIANA 0 0 0 A 14250000 40000000 300000 39700000 2011 0 0 1 1 A 0 1 0 0 1 0 0 A 0 0 1 0 1 0 0 0 0 A 0 PART III, LINE 4 AND LINE 7: ALL OF THE PROCEEDS OF THE BONDS WERE USED FOR PRIVATE ACTIVITY PURPOSES. THESE BONDS ARE MIDWESTERN DISASTER AREA BONDS, WHICH ARE EXEMPT FACILITY BONDS UNDER IRC 142 AS PROVIDED BY SECTION 702 OF THE HEARTLAND DISASTER TAX RELIEF ACT OF 2008. SUCH BONDS, WHILE EXPECTED TO HAVE 100% PRIVATE BUSINESS USE AND TO MEET THE PRIVATE SECURITY OR PAYMENT TEST, ARE QUALIFIED BY STATUTE. PART IV, LINE 7: THE ASSOCIATION HAS NOT ESTABLISHED WRITTEN PROCEDURES WITH RESPECT TO ARBITRAGE MATTERS, BECAUSE (A) THIS IS THE ASSOCIATION'S ONLY ISSUE OF TAX-EXEMPT BONDS, AND (B) WE HAVE DETERMINED ALONG WITH BOND COUNSEL THAT THIS ISSUE QUALIFIES FOR THE SIX-MONTH SPENDING EXCEPTION TO REBATE. FORM 990, PART VI, SECTION A, LINE 6 WABASH VALLEY POWER ASSOCIATION, INC. IS AN ELECTRIC GENERATION AND TRANSMISSION COMPANY THAT HAS 23 DISTRIBUTION COOPERATIVE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A WABASH VALLEY POWER ASSOCIATION, INC. HAS A BOARD CONSISTING OF 23 DIRECTORS, ONE REPRESENTATIVE ELECTED FROM EACH MEMBER DISTRIBUTION COOPERATIVE. THE BOARD IS RESPONSIBLE FOR SELECTING THE PRESIDENT AND CEO, LEGAL COUNSEL AND THE EXECUTIVE BOARD WHICH INCLUDES A CHAIRMAN, VICE-CHAIRMAN, 2ND VICE CHAIRMAN, SECRETARY-TREASURER AND TWO EXECUTIVE COMMITTEEMEN. FORM 990, PART VI, SECTION A, LINE 7B ALL BUSINESS AFFAIRS OF THE CORPORATION ARE GOVERNED BY THE BOARD OF DIRECTORS, WHICH EXERCISES ALL THE POWERS OF THE CORPORATION WITH THE PROVISIONS OF THE CORPORATE BY-LAWS, ARTICLES OF INCORPORATION AND CORPORATE POLICIES. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS ELECTS THREE DIRECTORS, ALONG WITH THE SECRETARY-TREASURER AND AN INDEPENDENT MEMBER TO SERVE AS THE AUDIT COMMITTEE WHOSE PRIMARY FUNCTION IS TO ASSIST THE BOARD IN FINANCIAL OVERSIGHT RESPONSIBILITIES. THE FORM 990 RETURN IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO FILING AND MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12B: THE BOARD OF WABASH VALLEY POWER ASSOCIATION, INC. HAS ADOPTED A POLICY ON DIRECTOR DUTIES, ETHICS AND STANDARDS OF CONDUCT WHICH REQUIRES DIRECTORS TO AVOID ACTIVITIES, PRACTICES OR ACTS THAT CREATE A CONFLICT OF INTEREST. ADDITIONALLY, EACH MEMBER OF THE BOARD AND KEY MANAGEMENT EMPLOYEES MUST ANNUALLY DISCLOSE ANY INTER-LOCKING DIRECTORSHIPS AS REQUIRED BY FEDERAL ENERGY REGULATORY COMMISSION REGULATIONS. FORM 990, PART VI, SECTION B, LINE 12C: WABASH VALLEY POWER ASSOCIATION, INC. HAS ADOPTED A CONFLICT OF INTEREST POLICY THAT IS APPLICABLE TO ALL EMPLOYEES. THIS POLICY IS COMMUNICATED IN THE EMPLOYEE HANDBOOK ALONG WITH AN EXPLANATION OF THE PROCEDURE FOR CLARIFICATION OF POTENTIAL SITUATIONS THAT COULD LEAD TO CONFLICT. ON AN ANNUAL BASIS, EACH EMPLOYEE IS REQUIRED TO REVIEW AND SIGN THIS HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S EXECUTIVE BOARD WORKED WITH AN INDEPENDENT CONSULTING FIRM TO ESTABLISH THE CEO'S COMPENSATION PHILOSOPHY AND SALARY GUIDELINES BASED ON COMPARABILITY DATA FROM SEVERAL DIFFERENT ENERGY INDUSTRY SOURCES. THE CEO REVIEW PROCESS INCLUDES ON-LINE PERFORMANCE SURVEYS THAT ARE COMPLETED BY THE FULL BOARD OF DIRECTORS AND CHIEF EXECUTIVE OFFICERS OF EACH DISTRIBUTION COOPERATIVE. ALL FINAL PERFORMANCE STATISTICS AND COMPENSATION RECOMMENDATIONS ARE BROUGHT BEFORE THE FULL WABASH VALLEY BOARD OF DIRECTORS FOR FINAL DETERMINATION ON PERFORMANCE AND MERIT INCREASES. AN INDEPENDENT CONSULTING FIRM ALSO DEVELOPED A PERFORMANCE-BASED COMPENSATION SYSTEM FOR ALL WABASH VALLEY MANAGEMENT AND EMPLOYEES. THE ANNUAL REVIEW PROCESS INCLUDES SALARY TABLES AND GUIDELINES FOR EACH POSITION WITHIN THE ORGANIZATION BASED ON ENERGY INDUSTRY DATA. FORM 990, PART VI, SECTION C, LINE 19 WABASH VALLEY POWER ASSOCIATION, INC. PROVIDES ANY DOCUMENT OPEN TO PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY IN EARNINGS - WVEM 120,309. PATRONAGE CAPITAL RETIREMENT -2,500,000. EQUITY IN EARNINGS - ACES POWER MARKETING -44,900. WABASH VALLEY ENERGY MARKETING INC 6702 INTECH BLVD INDIANAPOLIS IN 46278 203938637 POWER MARKETING IN WABASH VALLEY POWER ASSOCIATION INC C 1134808 7951815 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WABASH VALLEY ENERGY MARKETING INC A 121921 FMV