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Nonprofiteer
← SAN LUIS VALLEY RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by SAN LUIS VALLEY RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$43,288,734
Total expenses
$43,288,734
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$43,139,358
Investment income
$126,719
Other revenue
$22,657
Total assets, end of year
$153,889,315
Total liabilities, end of year
$100,085,374
Net assets or fund balances, end of year
$53,803,941
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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 Revenue

    total $35,550,377 · related or exempt $35,550,377 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Capital Credit Revenue

    total $731,729 · related or exempt $731,729 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Broadband Revenue

    total $6,699,995 · related or exempt $6,699,995 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Warehouse Sales

    total $9,127 · related or exempt $9,127 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Fee and Service Revenue

    total $127,421 · related or exempt $127,421 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $20,709 · related or exempt $20,709 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $109,969 · related or exempt $0 · unrelated business $0 · excluded $109,969

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $6,280 · personal property $16,377

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $6,280 · personal property $16,377

  • 6d · Net rental income or loss

    total $22,657 · related or exempt $0 · unrelated business $0 · excluded $22,657

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $22,250

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

    securities $0 · other assets $5,500

  • 7c · Gain or loss

    securities $0 · other assets $16,750

  • 7d · Net gain or loss

    total $16,750 · related or exempt $0 · unrelated business $0 · excluded $16,750

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,197,738

  • 5 · Compensation of officers, directors and key employees

    total $1,903,860

  • 7 · Other salaries and wages

    total $2,415,558

  • 8 · Pension plan contributions

    total $942,653

  • 9 · Other employee benefits

    total $1,278,000

  • 10 · Payroll taxes

    total $348,904

  • 11b · Fees: legal

    total $45,593

  • 12 · Advertising and promotion

    total $84,814

  • 13 · Office expenses

    total $18,886

  • 14 · Information technology

    total $311,876

  • 17 · Travel

    total $0

  • 19 · Conferences, conventions and meetings

    total $94,522

  • 20 · Interest

    total $4,301,843

  • 22 · Depreciation, depletion and amortization

    total $6,023,807

  • 23 · Insurance

    total $197,361

  • 24a · Other expenses: Distribution Expense

    total $3,139,295

  • 24b · Other expenses: Customer Account and Service Expense

    total $656,650

  • 24c · Other expenses: Broadband Expense

    total $1,920,921

  • 24d · Other expenses: Power Cost

    total $17,835,510

  • 24e · All other expenses

    total $570,943

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $983,319 · end of year $866,945

  • 2 · Savings and temporary cash investments

    beginning of year $640,469 · end of year $530,721

  • 4 · Accounts receivable

    beginning of year $5,118,621 · end of year $4,175,836

  • 8 · Inventories for sale or use

    beginning of year $6,058,486 · end of year $7,047,575

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,392,891 · end of year $1,473,504

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

    $182,687,757

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

    $69,273,994

  • 10c · Land, buildings and equipment, net

    beginning of year $109,681,346 · end of year $113,413,763

  • 11 · Investments: publicly traded securities

    beginning of year $825,345 · end of year $979,815

  • 13 · Investments: program-related

    beginning of year $23,001,176 · end of year $23,153,750

  • 14 · Intangible assets

    beginning of year $151,245 · end of year $151,246

  • 15 · Other assets

    beginning of year $3,884,980 · end of year $2,096,160

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,433,240 · end of year $5,346,046

  • 18 · Grants payable

    beginning of year $0

  • 19 · Deferred revenue

    beginning of year $33,274 · end of year $26,098

  • 23 · Secured mortgages and notes payable

    beginning of year $90,087,724 · end of year $91,917,267

  • 25 · Other liabilities

    beginning of year $2,395,835 · end of year $2,795,963

  • 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 $53,787,805 · end of year $53,803,941

Mission and programs · 2023

Mission

Sales of Electric power to Members. WE had 13,126 meters in place at the end of 2023.

Activities or mission (Part I)

Sales of Electricity on a cooperative basis

  • Sales of Electricty on a cooperative basis

  • Broadband Service on a patronage basis

As filed on the 2023 return.

Listed in Part VII

  • Marvin Martinez

    Area Serviceman

    Total calculated
    $262,452
    From this org
    $197,431
    From related orgs
    $0
    Other
    $65,021
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $189,694
    Bonus
    $7,737
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $65,021
    Filer's total
    $262,452

  • JoAn Waudby

    Treasurer / Chief Financial Officer

    Total calculated
    $240,279
    From this org
    $184,471
    From related orgs
    $0
    Other
    $55,808
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $187,471
    Bonus
    $12,491
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $55,808
    Filer's total
    $255,770

  • Monroe Johnson

    Chief Technology Officer

    Total calculated
    $227,167
    From this org
    $168,993
    From related orgs
    $0
    Other
    $58,174
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,672
    Bonus
    $11,321
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $58,174
    Filer's total
    $227,167

  • Stacy Valdez

    Manager of Customer Service and Billing

    Total calculated
    $227,050
    From this org
    $168,896
    From related orgs
    $0
    Other
    $58,154
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,816
    Bonus
    $10,080
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $58,154
    Filer's total
    $227,050

  • Shawn McKibbon

    Chief Operating Officer

    Total calculated
    $220,398
    From this org
    $163,255
    From related orgs
    $0
    Other
    $57,143
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $153,059
    Bonus
    $10,196
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $57,143
    Filer's total
    $220,398

  • Michelle Trujillo

    Assistant Secretary / Human Resource Manager

    Total calculated
    $216,364
    From this org
    $165,865
    From related orgs
    $0
    Other
    $50,499
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $155,271
    Bonus
    $10,594
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $50,499
    Filer's total
    $216,364

  • Ryan Christensen

    Working Foremen

    Total calculated
    $207,160
    From this org
    $158,951
    From related orgs
    $0
    Other
    $48,209
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,981
    Bonus
    $8,971
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $48,209
    Filer's total
    $207,161

  • Loren Howard

    Chief Executive Officer

    Total calculated
    $206,101
    From this org
    $171,835
    From related orgs
    $0
    Other
    $34,266
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,835
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $34,266
    Filer's total
    $206,101

  • Wade Warman

    Working Foreman

    Total calculated
    $205,827
    From this org
    $150,583
    From related orgs
    $0
    Other
    $55,244
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,612
    Bonus
    $8,971
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $55,244
    Filer's total
    $205,827

  • Rudolph Viialpando

    Sericeman

    Total calculated
    $203,591
    From this org
    $150,583
    From related orgs
    $0
    Other
    $53,008
    Hours/week
    45

  • Terry Daley

    Engineering Manager

    Total calculated
    $197,224
    From this org
    $150,028
    From related orgs
    $0
    Other
    $47,196
    Hours/week
    42

  • Randy Magnuson

    Working Foremen

    Total calculated
    $196,184
    From this org
    $150,784
    From related orgs
    $0
    Other
    $45,400
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,814
    Bonus
    $8,971
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $45,400
    Filer's total
    $196,185

  • Keenan Anderson

    Board Presidentt

    Total calculated
    $27,359
    From this org
    $27,359
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Scott Wolf

    Director

    Total calculated
    $26,458
    From this org
    $26,458
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Carol Lee Dugan

    Director

    Total calculated
    $19,373
    From this org
    $19,373
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stephen Valdez

    Vice President

    Total calculated
    $13,497
    From this org
    $13,497
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Creede Hargraves

    Director

    Total calculated
    $4,532
    From this org
    $4,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Wade Lockhart

    Secretary

    Total calculated
    $3,861
    From this org
    $3,861
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kim Wakasugi

    Director

    Total calculated
    $1,877
    From this org
    $1,877
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Cole Wakasugi

    Director

    Total calculated
    $908
    From this org
    $908
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $908
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $908

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

None.

Answered no

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202433219349301028

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