Overview
What is Valley Electric Membership Corporation?
Valley Electric Membership Corporation was a nonprofit organization primarily focused on providing electricity to its members. Operating until October 1, 2010, the corporation sold electricity to its membership base. On this significant date, Valley Electric sold a substantial portion of its assets to Southwestern Electric Power Company, a subsidiary of American Electric Power. Despite the asset sale, the nonprofit continued to fulfill its primary duty of supplying electricity to its members until the point of transition.
Is Valley Electric Membership Corporation legitimate?
Valley Electric Membership Corporation is a legitimate nonprofit organization registered as a 501(c)(12) entity. Valley Electric Membership Corporation submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
What is the mission statement of Valley Electric Membership Corporation?
Valley Electric Membership Corporation's primary mission, up until October 1, 2010, was to supply electricity to its members. During this period, the corporation sold electricity to its customer base. On October 1, 2010, Valley Electric sold a substantial portion of its assets to Southwestern Electric Power Company, a subsidiary of American Electric Power. Post this sale, the corporation ceased to operate directly in the electricity distribution sector. However, the specific objectives and future activities of Valley Electric Membership Corporation after the asset sale are not provided in the given information.
Who is the CEO of Valley Electric Membership Corporation?
Kevin Mccracken is the Vice President of Valley Electric Membership Corporation. The CEO's salary of Valley Electric Membership Corporation is $0 and their total compensation is $0.
What is the revenue of Valley Electric Membership Corporation?
Valley Electric Membership Corporation's revenue in 2022 was $1.
Who are the executives of Valley Electric Membership Corporation and what are their salaries?
Here are 8 key members and their salaries (Valley Electric Membership Corporation's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990EZ for Valley Electric Membership Corporation?
Valley Electric Membership Corporation's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Valley Electric Membership Corporation
Valley Electric Membership Corporation, in its mission, provided electricity to its members until October 1, 2010. This organization's primary role was to sell electricity to its members. On this particular date, Valley Electric underwent a significant transformation as it sold a substantial portion of its assets to Southwestern Electric Power Company, a subsidiary of American Electric Power. Despite this transition, the sale of electricity to members remained a part of its operations until the specified date.
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Impact
October, 2024
Valley Electric Membership Corporation played a significant role in providing reliable electricity to its members in Shreveport, Louisiana, until October 1, 2010. Through its commitment to serving the community, the organization facilitated access to essential energy resources, contributing to the overall quality of life for residents. Its operations ensured that members had a consistent power supply, supporting local businesses and households alike.
The transition of its assets to Southwestern Electric Power Company, a subsidiary of American Electric Power, marked a significant shift in the energy landscape. This change not only allowed for the continuity of service but also potentially enhanced the efficiency and reliability of electricity provision in the region. The sale represented a strategic move to align with a larger company known for its extensive resources and infrastructure, ensuring that the needs of the community would continue to be met effectively.
Overall, Valley Electric's impact laid the groundwork for sustainable energy delivery, fostering economic stability and community well-being during its operational years.
This information is meant to be a general summary of Valley Electric Membership Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $1
Assets and Liabilities:
- Total Assets: $19,436
- Total Liabilities: $0
- Net Assets: $19,436
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Organization Details
Phone
(318) 218-9294Principal Officer
Kevin Mccracken
Main Address
10010 WINDING RIDGE DRIVE, SHREVEPORT, LA, 71106
NTEE Category
Code: W80 - Public benefit
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