Nonprofit · EIN 92-0014712
GOLDEN VALLEY ELECTRIC ASSN INC
Tax-exempt · FAIRBANKS, AK 99701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $309,695,755 | $307,253,354 | $2,442,401 | $764,269,185 | $484,512,256 | $279,756,929 |
| December 31, 2023 | 990 | $295,865,368 | $292,938,561 | $2,926,807 | $785,044,640 | $511,653,055 | $273,391,585 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $306,598,147
- Investment income
- $2,383,598
- Net rental income
- $566,262
- Net gain from sales of assets
- $914,473
- Net income from sales of inventory
- $20,067
- Other revenue
- $714,010
Expenses
- Grants and similar amounts paid
- $52,561
- Benefits paid to members
- $774,349
- Compensation of officers, directors and key employees
- $3,286,917
- Other salaries and wages
- $29,288,666
- Salaries, compensation and benefits (total)
- $47,811,280
- Professional fundraising fees
- $0
- Depreciation
- $35,235,829
Balance sheet and other
- Total assets, start of year
- $785,044,640
- Total assets, end of year
- $764,269,185
- Total liabilities, end of year
- $484,512,256
- Net assets, end of year
- $279,756,929
- Land, buildings and equipment
- $602,059,728
- Gross unrelated business income
- $183,803
- Gross receipts
- $319,747,237
- Employees
- 334
- Volunteers
- 0
- Year formed
- 1946
- State of legal domicile
- AK
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOHN BURNS | President & CEO: Jan-June 2024 Officer | 27.19 | $286,325 | $94,515 |
| TRAVIS MILLION | President & CEO: June-Dec 2024 Officer | 40 | $313,529 | $53,412 |
| SARAH RIXIE | CFO Officer | 50.64 | $263,954 | $97,811 |
| CHRISTOPHER FORREST | Director of Power Supply Officer | 40.54 | $226,403 | $101,058 |
| ABBIGAIL DILLARD | Director of Member Services Officer | 65.44 | $226,271 | $86,283 |
| REAGAN RUSSELL | Director of Human Resources Officer | 47.08 | $212,983 | $98,246 |
| JOHN KELLY | Gas Turbine Plant Manager Highest-paid employee | 40 | $221,566 | $85,738 |
| DANIEL BISHOP | Director of Engineering SVCS. Officer | 46.8 | $243,330 | $52,289 |
| BENJAMIN PORTER | Lineman Journeyman Highest-paid employee | 54.35 | $220,392 | $68,690 |
| IAN OLESEN | Lineman Journeyman Highest-paid employee | 56.31 | $217,675 | $69,864 |
| JARED CARTER | E & I Foreman Highest-paid employee | 53.98 | $210,812 | $73,914 |
| NATHANIEL MINNEMA | Director of Operations Officer | 44.19 | $194,411 | $86,023 |
| JAMES GAPPERT | Lineman Journeyman Highest-paid employee | 58.77 | $211,000 | $67,860 |
| NAOMI MORTON KNIGHT | Environmental Officer Officer | 40.12 | $186,629 | $84,326 |
| SHANNON TELLING | Director of Information Tech. Officer | 40.9 | $180,948 | $72,446 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Gary C Newman | Secretary Trustee or director, Officer | 18.89 | $19,825 |
| David Pelunis-Messier | Treasurer Trustee or director, Officer | 4.94 | $19,775 |
| Thomas P DeLong | Chairman Trustee or director, Officer | 10.91 | $19,525 |
| Frederick W Sheen | Director Trustee or director | 7.73 | $18,875 |
| Richard J Solie Jr | Director Trustee or director | 5.39 | $15,925 |
| Christopher M Bunch | Vice Chairman Trustee or director, Officer | 6.62 | $13,600 |
| Krista M Zappone | Director Trustee or director | 3.14 | $11,750 |
| Todd M Adams | Director Trustee or director | 4.65 | $6,450 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| John J Burns | President & CEO Officer | 60 | $406,616 | $132,745 |
| Sarah J Rixie | CFO Officer | 50.5 | $250,379 | $87,399 |
| John H Kelly | Gas Turbine Plant Manager Highest-paid employee | 40 | $237,123 | $77,604 |
| Christopher M Forrest | Director of Power Supply Officer | 40 | $211,683 | $89,140 |
| Richard A Lusby | Healy Plant Manager Highest-paid employee | 40 | $211,683 | $76,285 |
| Daniel R Bishop | Director of Engineering Svcs. Officer | 40 | $237,123 | $49,714 |
| Reagan M Russell | Director of HR Officer | 42 | $196,988 | $87,950 |
| Abbigail M Dillard | Director of Member Services Officer | 48.5 | $203,632 | $78,990 |
| Nathaniel J Minnema Former | Manager of Engineering Service Officer | 43 | $193,796 | $81,945 |
| Jared B Carter | E & I Foreman Highest-paid employee | 56.5 | $203,632 | $68,177 |
| Benjamin H Porter | Lineman Journeyman Highest-paid employee | 50 | $196,988 | $65,113 |
| Naomi J Morton Knight Former | Environmental Officer Officer | 40 | $169,830 | $78,489 |
| Ian P Olesen | Lineman Journeyman Highest-paid employee | 51.5 | $169,387 | $66,377 |
| Shannon C Telling | Director of Info. Technology Officer | 40 | $169,387 | $58,763 |
| Thomas P DeLong | Chairman Trustee or director, Officer | 10.4 | $24,900 | $0 |
| Richard J Solie Jr | Director Trustee or director | 5.9 | $23,975 | $0 |
| Gary C Newman | Secretary Trustee or director, Officer | 18.5 | $21,400 | $0 |
| David Pelunis-Messier | Treasurer Trustee or director, Officer | 5.7 | $20,900 | $0 |
| Christopher M Bunch | Vice Chairman Trustee or director, Officer | 7.5 | $16,675 | $0 |
| Todd M Adams | Director Trustee or director | 3.8 | $13,700 | $0 |
| Frederick W Sheen | Director Trustee or director | 6.1 | $13,125 | $0 |
Address and contacts
- Address (IRS master file)
- 758 ILLINOIS ST, FAIRBANKS, AK 99701-2919
- In care of
- % SARAH J VILLALON GVEA
- Principal officer (990 for 2024)
- Sarah J Rixie, 758 Illinois St, Fairbanks, AK 99707
- Signed the 990
- Sarah J Rixie, CFO
- Phone
- (907) 452-1151
- Website
- WWW.GVEA.COM
- Return prepared by
- BDO USA
Mission
SEE SCHEDULE O
Program accomplishments
- PROVIDE ELECTRIC POWER TO APPROXIMATELY 36,199 MEMBERS. ALL MEMBERS WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATIONS OF PATRONAGE CAPITAL.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 92-0014712
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1954
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $764,269,185
- Income (IRS master file)
- $319,747,237
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $309,695,755 | $307,253,354 | $764,269,185 | IRS |
| 990 | December 2023 | $295,865,368 | $292,938,561 | $785,044,640 | XML |
| 990 | December 2022 | $290,488,698 | $286,809,541 | $748,155,757 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 92-0014712).
Questions about GOLDEN VALLEY ELECTRIC ASSN INC
- What is the EIN of GOLDEN VALLEY ELECTRIC ASSN INC?
- The employer identification number (EIN) of GOLDEN VALLEY ELECTRIC ASSN INC is 92-0014712.
- Is GOLDEN VALLEY ELECTRIC ASSN INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1954.
- Are donations to GOLDEN VALLEY ELECTRIC ASSN INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GOLDEN VALLEY ELECTRIC ASSN INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GOLDEN VALLEY ELECTRIC ASSN INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GOLDEN VALLEY ELECTRIC ASSN INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GOLDEN VALLEY ELECTRIC ASSN INC?
- The 990 for the year ended December 31, 2024 names Sarah J Rixie.
- Who are the officers and directors of GOLDEN VALLEY ELECTRIC ASSN INC?
- The 990 for the year ended December 31, 2024 lists 23 people; 23 received compensation from the organization, the highest $286,325 (JOHN BURNS, President & CEO: Jan-June 2024).
- How much revenue does GOLDEN VALLEY ELECTRIC ASSN INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $309,695,755, expenses of $307,253,354 and total assets of $764,269,185 at year end.
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