Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $37,146,383 · related or exempt $37,146,383

• 2b · Program service revenue: CAPITAL CREDITS

  total $370,849 · related or exempt $370,849

• 2c · Program service revenue: RENTAL REVENUE

  total $246,000 · unrelated business $246,000

• 2d · Program service revenue: EQUITY EARNINGS/(LOSSES)

  total $26,221 · related or exempt $26,221

• 2e · Program service revenue: POLE RENTAL REVENUE

  total $25,875 · related or exempt $25,875

• 3 · Investment income

  total $269,807 · related or exempt $234,701 · unrelated business $24,337 · excluded $10,769

• 7a · Gross sales of assets other than inventory

  other assets $108,617

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $108,617

• 7d · Net gain or loss

  total $108,617 · excluded $108,617

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $543,566 · related or exempt $188,442 · unrelated business $276,182 · excluded $78,942

• 11e · Other revenue, total

  $543,566

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $30,740

• 2 · Grants to domestic individuals

  total $9,000

• 4 · Benefits paid to or for members

  total $3,602,402

• 5 · Compensation of officers, directors and key employees

  total $722,276

• 7 · Other salaries and wages

  total $454,488

• 20 · Interest

  total $1,220,059

• 22 · Depreciation, depletion and amortization

  total $4,099,663

• 24a · Other expenses: FEDERAL INCOME TAXES

  total -$698

• 24b · Other expenses: COST OF POWER PURCHASED

  total $21,920,918

• 24c · Other expenses: DISTRIBUTION MAINTENANC

  total $2,597,108

• 24d · Other expenses: DISTRIBUTION OPERATIONS

  total $2,303,894

• 24e · All other expenses

  total $2,195,345

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $790,461 · end of year $1,451,879

• 4 · Accounts receivable

  beginning of year $2,890,890 · end of year $2,770,643

• 7 · Other notes and loans receivable

  beginning of year $176,000 · end of year $147,000

• 8 · Inventories for sale or use

  beginning of year $1,265,068 · end of year $1,771,533

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,919,477 · end of year $6,417,202

• 10a · Land, buildings and equipment: cost or other basis

  $129,162,011

• 10b · Land, buildings and equipment: accumulated depreciation

  $58,792,657

• 10c · Land, buildings and equipment, net

  beginning of year $68,503,283 · end of year $70,369,354

• 12 · Investments: other securities

  beginning of year $8,668,392 · end of year $8,694,613

• 13 · Investments: program-related

  beginning of year $18,622,407 · end of year $18,619,764

• 15 · Other assets

  beginning of year $815,353 · end of year $735,129

• 17 · Accounts payable and accrued expenses

  beginning of year $3,368,925 · end of year $2,875,438

• 19 · Deferred revenue

  end of year $135,941

• 23 · Secured mortgages and notes payable

  beginning of year $42,059,029 · end of year $40,314,344

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $1,557,922

• 25 · Other liabilities

  beginning of year $830,389 · end of year $698,932

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 4A

JACK JOHNSTON RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $119,165 IN 2022.

SCHEDULE J, PART II, COLUMN C

COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR EACH PARTICIPANT RATHER THAN THE ACTUAL CONTRIBUTION PAID TO THE PLAN. THE CHANGE IN ACTUARIAL CALUE IN THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - KEVIN BRANDON $51,796 - MIKE TRUMBLE $66,765 - MARK HALL $53,998 - GARRET WERTZ $16,414 - CRAIG MCBRAIN $13,619 - KEENAN DAVIS $8,329 - JOHN JACKSON $6,150 THE ACTUAL EXPENSE OF THE ASSOCIATION FOR DEFINED BENEFIT PLAN ARE AS FOLLOWS: - KEVIN BRANDON $22,010 - MIKE TRUMBLE $26,241 - MARK HALL $29,391 - GARRET WERTZ $19,394 - CRAIG MCBRAIN $13,472 - KEENAN DAVIS $10,014 - JOHN JACKSON $10,372

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SECOMINC

  C · TELECOMMUNICATION · CO · 100% owned · share of income $13,140,886 · share of assets $24,629,441 · controlled entity

  Directly controlled by SOUTHEAST COLORADO POWER ASSOCIATION