2024-09-06T10:39:38-04:00 2023-12-31 813151222 Wade Hirschi CPA PC PO Box 1587 Afton WY 83110 990 2023-01-01 830129756 Lower Valley Energy Inc LOWE PO Box 188 Afton WY 83110 James R Webb PresidentChief 3078853175 2024-08-29 false true Wade Hirschi P01971333 3078851040 2024-09-06 2023 2024-08-08 14:25:15Z James R Webb 77896056 false X www.lvenergy.com X 1936 WY The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis. 7 7 87 0 0 0 77116860 77003663 264603 796197 27506 96196 77408969 77896056 0 2138912 2451861 11835855 13108115 0 0 56643583 57552373 70618350 73112349 6790619 4783707 308120188 325927439 203389494 214881730 104730694 111045709 The organization provides electricity and natural gas to rural members on a not-for-profit cooperative basis. false false 73112349 77896055 During the year, the cooperative provided electricity and natural gas utility service to its members. 73112349 false false false false false false false false false true false false true true false true false false false false false false false false false false false false true false false false true false false false false false false false false false false true 23 0 true 87 true false false false false false 75412143 2483913 false false false X 7 7 false false false false true true true true true false false true true true true true true false false false X James R Webb 3078853175 PO Box 188 Afton WY 83110 James R Webb PresidentChief Executive Off 50.00 0.00 X 477767 0 0 Richard Knori Director of Engineering 50.00 0.00 X 307003 0 0 Mallory Winters Electric Foreman 50.00 0.00 X 262019 0 0 Craig Coles Director of Gas Operations 50.00 0.00 X 252749 0 0 Jon Hougland Staff Assistant 50.00 0.00 X 231805 0 0 Kyle Thurston Lineman 50.00 0.00 X 218229 0 0 Larry Bowlin Foreman 50.00 0.00 X 214774 0 0 Anna Helm Finance Manager 50.00 0.00 X 186747 0 0 Ray Elser SecretaryTreasurerDirector 10.00 0.00 X X 23825 0 0 Bob McLaurin Director 4.00 0.00 X 17950 0 0 Ted Ladd Vice-ChairDirector 5.00 0.00 X X 17100 0 0 Fred Brog Director 5.00 0.00 X 16500 0 0 Nancy Winters Director 4.00 0.00 X 15800 0 0 Dan Dockstader ChairmanDirector 10.00 0.00 X X 14500 0 0 Scott Anderson Director 3.00 0.00 X 13250 0 0 Max Moran Director 5.00 0.00 X 6250 0 0 2276268 0 0 8 true true false Williams Field Services Co LLC PO Box 730157 Dallas TX 75373 Construction 17512228 Vista Tree Care LLC 1000 Crow Creek Rd Afton WY 83110 Construction 1962327 Wilkes Excavation PO Box 1698 Afton WY 83110 Construction 1628784 Mountainside Power LLC PO Box 638 Afton WY 83110 Construction 1069039 Save the Ranch Trucking LLC 1371 State Hwy 241 Afton WY 83110 Trucking 239724 5 Retail Sales of Energy 221000 71812473 71812473 Service Related Revenue 221000 198526 198526 Patronage Capital 221000 321900 321900 Rental Income 221000 4032430 3823150 209280 Other Non-Operating 221000 629657 629657 8677 8677 77003663 796197 796197 Gain on Disp of Propert 221000 96196 96196 96196 77896056 76890579 0 1005477 2451861 2451861 1021494 1021494 8036618 8036618 1630326 1630326 1705003 1705003 714674 714674 88750 88750 20757 20757 7090411 7090411 6734891 6734891 491651 491651 Purchased Power & Gas 37630499 37630499 Transmission O&M 4384939 4384939 Distribution O&M 1617772 1617772 Administrative & General 2178505 2178505 -2685802 -2685802 73112349 73112349 0 0 X 1902303 2436454 2725793 594217 8959628 7911570 515904 984370 4086117 10973343 79692513 69457694 140018612 115103085 140018612 9952677 8968290 85182168 84582889 308120188 325927439 5299773 7437382 178075954 184463433 20013767 22980915 203389494 214881730 X 104730694 111045709 104730694 111045709 308120188 325927439 X 4783707 1531308 X false true X true false 140018612 140018612 140018612 Organization Memberships 1000 C NRUCFC Cap Term Cert & Cap Credits 5532823 C Other Inv in Associated Orgs 367207 C CFC Notes Receivable 3067260 C Other Investments 8968290 Unbilled Sales 4880859 Other Current Assets 906741 Net Inv-Sales Type Lease - Curr 1025325 Net Inv-Sales Type Lease - Non-Cur 77769964 84582889 Member Deposits 1023040 Other Current Liabilities 4313024 Member Prepaid Accounts 442539 Horse Butte Payment 1749041 Reserve for Uncollectible Cons Loan 50000 Hooper Springs Gain on Lease 4446936 Hooper Springs Operation Obligation 2660000 Hooper Springs Admin Obligation 2155000 Revolving Loan Funds 548959 Other Deferred Credits 5592376 22980915 77896056 77896056 77896056 70660488 70660488 2451861 2451861 73112349 X true true X X false false false James R Webb PresidentChief Executive Officer 428455 49312 477767 Richard Knori Director of Engineering 265697 41306 307003 Scott Anderson Director 13250 13250 Jon Hougland Staff Assistant 185648 46157 231805 Mallory Winters Electric Foreman 180887 81132 262019 Larry Bowlin Foreman 167582 47192 214774 Craig Coles Director of Gas Operations 168311 84438 252749 Anna Helm Finance Manager 115710 71037 186747 Kyle Thurston Lineman 153807 64422 218229 Dan Dockstader Director 9004 Advertising false Members or stockholder classes and rights Part VI line 6 The organization operates as a cooperative. All of its customers are members of the cooperative and receive patronage capital allocations. Member election for additional members Part VI line 7a Every member of the board is elected by the membership of the cooperative, which as stated above, constitutes the cooperatives customer base. Governing body decisions Part VI line 7b The board cannot sell a major portion of the assets of the cooperative without approval of 2/3 of the membership. Form 990 governing body review Part VI line 11 The completed Form 990 is made available for board members to review in an online portal. Board members may contact management with any review comments they have prior to filing the 990. Conflict of interest policy compliance Part VI line 12c The policy is reviewed annually with officers, directors and key employees. They are required to disclose potential conflicts of interest annually and excuse themselves from discussions and decisions where the potential for a conflict arises. They are also required to disclose new conflicts that arise during the year. CEO executive director top management comp Part VI line 15a The organization uses the NRECA Wage Study to establish compensation ranges for all employees. Other officer or key employee compensation Part VI line 15b The cooperative periodically seeks the input of an independent consultant in setting wages and salaries of all employees; but this is not done every year. An independent consultant was not hired in 2023 to review the President/CEO compensation. Each year the cooperative does rely on compensation data gathered by the NRECA in setting wages and salary levels of all employees. The results are presented to the board for review and approval. The study and action are documented. Governing documents etc available to public Part VI line 19 Bylaws are available on the Cooperatives website. New members are directed to the website at the time they sign up for service. They can also be requested by phone, email, or in the office. Financial statements are mailed annually to all members. They can also be requested by phone, email, or in the office. The conflict of interest policy (along with all policies) is available upon request as well. Explanation of other changes in net assets or fund balances Part XI line 9 Discounts on early retirements of patronage capital were $1,531,308. Balance Sheet Part X Lines 9 and 23 - IN 2013, the cooperative borrowed $153,210,462 to prepay a portion of its power bill to the Bonneville Power Administration. By prepaying, the cooperative will receive a discount on its future power bills. This transaction resulted in a significant increase in the balance of prepaid expenses and long-term debt. The overall transaction will benefit the members through lower power costs. General explanation attachment The cooperative is a 50% owner of Swift Creek Hydro Electric Company, LLC (EIN 61-1686955). Swift Creek Hydro Electric provided the cooperative with a K-1 for its share of operating losses. However, the cooperative has already included its share of Swift Creeks revenue and expenses in its operating numbers reported in this return, rather than reporting just a total net from the K-1.