Form 990 for tax year 2022

Filed by HOLY CROSS ELECTRIC ASSOC INC.

Totals

Total revenue: $150,591,525
Total expenses: $148,897,305
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $149,589,259
Investment income: $417,238
Other revenue: $585,028
Total assets, end of year: $359,982,286
Total liabilities, end of year: $216,700,648
Net assets or fund balances, end of year: $143,281,638
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2a · Program service revenue: ELECTRICITY SALES

total $148,254,966 · related or exempt $148,254,966
2b · Program service revenue: CAPITAL CREDITS & PATRONAGE DIVIDENDS

total $1,125,650 · related or exempt $1,125,650
2c · Program service revenue: RENT FROM ELECTRIC PROPERTY

total $208,643 · related or exempt $208,643
3 · Investment income

total $231,839 · excluded $231,839
4 · Income from investment of tax-exempt bond proceeds

total $0
5 · Royalties

total $0
6a · Gross rents

real property $27,825
6b · Less rental expenses

real property $62,985
6c · Rental income or loss

real property -$35,160 · personal property $0
6d · Net rental income or loss

total -$35,160 · excluded -$35,160
7a · Gross sales of assets other than inventory

other assets $197,792
7b · Less cost or other basis and sales expenses

other assets $12,393
7c · Gain or loss

other assets $185,399
7d · Net gain or loss

total $185,399 · excluded $185,399
8a · Fundraising events: gross income

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0
11a · Other revenue: JOBBING REVENUE

total $435,134 · excluded $435,134
11b · Other revenue: REBATES

total $185,329 · excluded $185,329
11c · Other revenue: MISCELLANEOUS REVENUE

total -$275 · related or exempt $0 · unrelated business $0 · excluded -$275
11d · All other revenue

total -$275 · related or exempt $0 · unrelated business $0 · excluded -$275
11e · Other revenue, total

$620,188

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
2 · Grants to domestic individuals

total $0
3 · Grants to foreign organizations and individuals

total $0
4 · Benefits paid to or for members

total $9,578,332
5 · Compensation of officers, directors and key employees

total $2,896,881
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $19,765,229
8 · Pension plan contributions

total $4,800,121
9 · Other employee benefits

total $3,733,817
10 · Payroll taxes

total $1,424,927
11a · Fees: management

total $0
11b · Fees: legal

total $0
11c · Fees: accounting

total $0
11d · Fees: lobbying

total $0
11e · Fees: professional fundraising services

total $0
11f · Fees: investment management

total $0
11g · Fees: other

total $0
12 · Advertising and promotion

total $0
13 · Office expenses

total $0
14 · Information technology

total $0
15 · Royalties

total $0
16 · Occupancy

total $0
17 · Travel

total $0
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $0
20 · Interest

total $7,238,201
21 · Payments to affiliates

total $0
22 · Depreciation, depletion and amortization

total $14,209,749
23 · Insurance

total $0
24a · Other expenses: COST OF POWER

total $56,955,374
24b · Other expenses: DISTRIBUTION EXPENSE

total $16,253,736
24c · Other expenses: CUSTOMER ACCOUNTS

total $6,454,178
24d · Other expenses: TRANSMISSION EXPENSE

total $2,874,007
24e · All other expenses

total $2,712,753

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0 · end of year $0
2 · Savings and temporary cash investments

beginning of year $8,962,829 · end of year $7,732,805
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $12,013,513 · end of year $14,293,316
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $477,747 · end of year $2,663,000
8 · Inventories for sale or use

beginning of year $4,441,069 · end of year $6,282,166
9 · Prepaid expenses and deferred charges

beginning of year $8,310,748 · end of year $8,849,667
10a · Land, buildings and equipment: cost or other basis

$504,510,707
10b · Land, buildings and equipment: accumulated depreciation

$196,424,634
10c · Land, buildings and equipment, net

beginning of year $299,817,929 · end of year $308,086,073
11 · Investments: publicly traded securities

beginning of year $0 · end of year $0
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $9,799,320 · end of year $10,460,283
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $2,945,905 · end of year $1,614,976
17 · Accounts payable and accrued expenses

beginning of year $24,282,334 · end of year $27,027,673
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $20,206,234 · end of year $27,684,120
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $162,319,187 · end of year $158,264,063
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $3,616,419 · end of year $3,724,792
29 · Capital stock, trust principal or current funds

beginning of year $62,121,430 · end of year $63,869,956
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $53,487,033 · end of year $56,286,008
31 · Retained earnings, endowment or other funds

beginning of year $20,736,423 · end of year $23,125,674

Mission and programs · 2022

Mission

HOLY CROSS ENERGY PROVIDES SAFE, RELIABLE, AFFORDABLE, AND SUSTAINABLE ENERGY AND SERVICES THAT IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND THEIR COMMUNITIES.

HOLY CROSS ENERGY IS A COOPERATIVE CORPORATION WITH 165+ EMPLOYEES SERVING 60,000+ ACTIVE METERS. HOLY CROSS ENERGY PROUDLY SERVES IT MEMBERS; FROM MAJOR SKI RESORTS IN THE ASPEN AND VAIL AREAS AS WELL AS FARMS, RANCHES, AND FRIENDLY RURAL COMMUNITIES THAT PROVIDE PEOPLE AND RESOURCES FOR THE TOURISM AND OUTDOOR RECREATION INDUSTRIES.

As filed on the 2022 return.

Listed in Part VII

BRYAN HANNEGAN

PRESIDENT & CEO

Total calculated

$687,944

From this org

$550,409

From related orgs

$0

Other

$137,535

Hours/week

45

Schedule J breakdown matched by us

Base

$465,380

Bonus

$85,029

Other

$0

Deferred

$108,158

Nontaxable benefits

$29,377

Filer's total

$687,944
DAVID BLEAKLEY

VP, ENGINEERING

Total calculated

$366,644

From this org

$229,002

From related orgs

$0

Other

$137,642

Hours/week

45

Schedule J breakdown matched by us

Base

$208,871

Bonus

$20,131

Other

$0

Deferred

$108,637

Nontaxable benefits

$29,005

Filer's total

$366,644
JOHN ROWLEY

VP, HUMAN RESOURCES & RISK MGM

Total calculated

$362,276

From this org

$241,333

From related orgs

$0

Other

$120,943

Hours/week

45

Schedule J breakdown matched by us

Base

$204,647

Bonus

$19,750

Other

$16,936

Deferred

$91,865

Nontaxable benefits

$29,078

Filer's total

$362,276
DAVID O'NEIL

VP, OPERATIONS

Total calculated

$355,439

From this org

$226,938

From related orgs

$0

Other

$128,501

Hours/week

45

Schedule J breakdown matched by us

Base

$206,888

Bonus

$19,940

Other

$110

Deferred

$99,383

Nontaxable benefits

$29,118

Filer's total

$355,439
JENNA WEATHERRED

VP, MEMBER & COMMUNITY RELATIO

Total calculated

$339,781

From this org

$224,502

From related orgs

$0

Other

$115,279

Hours/week

45

Schedule J breakdown matched by us

Base

$204,702

Bonus

$19,800

Other

$0

Deferred

$86,172

Nontaxable benefits

$29,107

Filer's total

$339,781
BARRY CROISSANT

MANAGER, FACILITIES

Total calculated

$321,147

From this org

$181,371

From related orgs

$0

Other

$139,776

Hours/week

45

Schedule J breakdown matched by us

Base

$154,738

Bonus

$11,366

Other

$15,267

Deferred

$111,062

Nontaxable benefits

$28,714

Filer's total

$321,147
ANDREW SCHILLER

VP, FINANCE

Total calculated

$298,244

From this org

$210,405

From related orgs

$0

Other

$87,839

Hours/week

45

Schedule J breakdown matched by us

Base

$191,748

Bonus

$18,657

Other

$0

Deferred

$59,568

Nontaxable benefits

$28,271

Filer's total

$298,244
SAM WHELAN

VP, FINANCE & POWER SUPPLY

Total calculated

$289,553

From this org

$193,400

From related orgs

$0

Other

$96,153

Hours/week

45

Schedule J breakdown matched by us

Base

$179,068

Bonus

$14,332

Other

$0

Deferred

$67,222

Nontaxable benefits

$28,931

Filer's total

$289,553
JOSH SNODDY

MANAGER, OPS TECHNOLOGY

Total calculated

$281,972

From this org

$188,415

From related orgs

$0

Other

$93,557

Hours/week

45

Schedule J breakdown matched by us

Base

$157,528

Bonus

$11,955

Other

$18,932

Deferred

$83,123

Nontaxable benefits

$10,434

Filer's total

$281,972
MICHAEL WHIDDON

MANAGER, ACCOUNTING

Total calculated

$275,491

From this org

$175,108

From related orgs

$0

Other

$100,383

Hours/week

45

Schedule J breakdown matched by us

Base

$145,782

Bonus

$11,268

Other

$18,058

Deferred

$80,851

Nontaxable benefits

$19,532

Filer's total

$275,491
MANUEL GOMEZ

DIRECTOR, FIBER & BROADBAND

Total calculated

$274,097

From this org

$177,228

From related orgs

$0

Other

$96,869

Hours/week

45

Schedule J breakdown matched by us

Base

$150,831

Bonus

$11,567

Other

$14,830

Deferred

$77,305

Nontaxable benefits

$19,564

Filer's total

$274,097
JAMES RAY

MANAGER, OPERATIONS

Total calculated

$257,899

From this org

$178,074

From related orgs

$0

Other

$79,825

Hours/week

45

Schedule J breakdown matched by us

Base

$165,933

Bonus

$12,141

Other

$0

Deferred

$51,034

Nontaxable benefits

$28,791

Filer's total

$257,899
DAVE MUNK

DIRECTOR

Total calculated

$41,500

From this org

$41,500

From related orgs

$0

Other

$0

Hours/week

10
ADAM QUINTON

DIRECTOR

Total calculated

$28,250

From this org

$28,250

From related orgs

$0

Other

$0

Hours/week

5
KEITH KLESNER

DIRECTOR

Total calculated

$27,750

From this org

$27,750

From related orgs

$0

Other

$0

Hours/week

5
KRISTEN BERTUGLIA

DIRECTOR

Total calculated

$26,750

From this org

$26,750

From related orgs

$0

Other

$0

Hours/week

5
ROBERT GARDNER

DIRECTOR

Total calculated

$25,750

From this org

$25,750

From related orgs

$0

Other

$0

Hours/week

5
ALEX DEGOLIA

DIRECTOR

Total calculated

$23,500

From this org

$23,500

From related orgs

$0

Other

$0

Hours/week

4
DAVID CAMPBELL

DIRECTOR

Total calculated

$23,500

From this org

$23,500

From related orgs

$0

Other

$0

Hours/week

4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · Discretionary spending account
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A: BOARD MEMBERS USE DISCRETIONARY ACCOUNT TO ATTEND INDUSTRY SPECIFIC TRAINING OR CONFERENCES THAT ARE NOT DIRECTLY RELATED TO THEIR BOARD OF DIRECTOR DUTIES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

ENERGY AND SERVICES EXPERTS

C CORP · COMMUNICATION · CO · 100% owned · share of income $0 · share of assets $7,548 · controlled entity

Directly controlled by HCEA

Provenance

Return type: form_990
Tax year: 2022
Filed: 20 July 2023
IRS schema version: 2022v5.0
Source object: 202322139349300932

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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