2025-09-03T13:36:35-07:00 2025-04-30 990 2025-01-01 810215971 NORVAL ELECTRIC COOPERATIVE INC NORV 4062289351 PO Box 951 Glasgow MT 59230 Marie Donaldson Office Manager 4062289351 2025-08-25 1 2024 2025-03-06 01:10:19Z Marie Donaldson PO Box 951 Glasgow MT 59230 3083797 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 0 0 0 0 0 0 7994147 2862345 57176 29698 414531 191754 8465854 3083797 0 0 441589 192916 2269686 749358 0 0 0 5754579 2141523 8465854 3083797 0 0 31894140 32742923 13154651 13632800 18739489 19110123 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 0 0 0 0 0 0 0 0 2862345 221452 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 Rick Stahl Director 3 0 X X 0 0 0 Chris Christensen President 15 0 X X 0 0 0 Rocky Kittleson Secretary/Treasurer 3 0 X X 0 0 0 Sam Gundermann Director 3 0 X X 0 0 0 Richard Molvig Vice President 3 0 X X 0 0 0 Kevin Nelson Director 3 0 X X 0 0 0 Brian Miller Director 3 0 X X 0 0 0 0 0 0 0 0 0 0 0 0 Sale of Electricity 221000 2862345 2862345 0 0 0 0 0 0 2862345 29698 29698 0 0 0 0 0 0 0 0 0 0 0 0 0 0 G&T Capital Credits 221121 92633 92633 0 0 Other Capital Credits 900099 52805 52805 0 0 Other Non-operating Revenue 900099 46316 46316 0 0 0 0 0 0 191754 3083797 3083797 0 0 X 0 0 0 192916 0 0 488420 82956 138714 39268 50328 1463 4987 4278 176317 484502 Cost of Purchased Power 910197 Property Tax 160000 Engineering 12010 337441 3083797 0 0 0 1575482 1361837 1057768 1364315 1109300 948045 2205789 2266503 141817 91574 45573284 21773569 22863236 23799715 2886591 2858779 54157 52155 31894140 32742923 716969 330471 11475301 11210093 962381 2092236 13154651 13632800 X 0 0 0 0 18739489 19110123 18739489 19110123 31894140 32742923 0 0 0 370634 0 0 X 0 1 X 1 0 218942 0 218942 910716 0 628357 282359 0 0 0 0 44443626 0 21145212 23298414 0 0 0 0 23799715 Invest in Assoc Org - Other Nongeneral Funds 16550 C Invest in Assoc Org - Patronage Capital 2624236 C Invest in Assoc Org - General Funds 217993 C 2858779 Consumer Deposits 153995 Consumer Energy Prepayments 167251 Consumer Construction Prepayments 1090172 Accrued Vacation/PTO/Sick Leave 249360 Accrued Property Tax 389792 Accrued Payroll/Taxes 36666 Accrued Interest 5000 2092236 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 2025 short 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. Form 990, Part IX, Line 24e This amount includes all other expenses that are not noted above.