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Nonprofiteer
← SAN ISABEL ELECTRIC ASSOCIATION INC

Form 990 for tax year 2023

Filed by SAN ISABEL ELECTRIC ASSOCIATION INC.

Totals

Total revenue
$61,046,770
Total expenses
$61,204,024
Contributions and grants received
$0
Grants paid
$157,254
Program service revenue
$60,107,297
Investment income
$385,073
Other revenue
$554,400
Total assets, end of year
$218,558,448
Total liabilities, end of year
$143,519,909
Net assets or fund balances, end of year
$75,038,539
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: Sale of Electricity

    total $58,374,284 · related or exempt $58,374,284

  • 2b · Program service revenue: Capital Credits

    total $1,517,102 · related or exempt $1,517,102

  • 2c · Program service revenue: Other Operating

    total $215,911 · related or exempt $215,911

  • 3 · Investment income

    total $385,073 · excluded $385,073

  • 6a · Gross rents

    personal property $59,473

  • 6c · Rental income or loss

    personal property $59,473

  • 6d · Net rental income or loss

    total $59,473 · excluded $59,473

  • 11a · Other revenue: Non-Operating

    total $494,927 · related or exempt $494,927

  • 11e · Other revenue, total

    $494,927

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $111,254

  • 2 · Grants to domestic individuals

    total $46,000

  • 4 · Benefits paid to or for members

    total $2,014,162

  • 5 · Compensation of officers, directors and key employees

    total $562,203

  • 7 · Other salaries and wages

    total $1,047,443

  • 20 · Interest

    total $4,480,121

  • 22 · Depreciation, depletion and amortization

    total $8,013,775

  • 24a · Other expenses: Cost of Power

    total $33,574,855 · program services $33,574,855

  • 24b · Other expenses: Distribution

    total $4,648,701 · program services $4,648,701

  • 24c · Other expenses: Admin & General

    total $3,923,346 · program services $3,923,346

  • 24d · Other expenses: Member Services

    total $2,605,188 · program services $2,605,188

  • 24e · All other expenses

    total $176,976

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $397,198 · end of year $446,864

  • 4 · Accounts receivable

    beginning of year $6,848,707 · end of year $6,151,297

  • 7 · Other notes and loans receivable

    beginning of year $11,303,402 · end of year $936,948

  • 8 · Inventories for sale or use

    beginning of year $3,514,428 · end of year $3,497,102

  • 9 · Prepaid expenses and deferred charges

    beginning of year $412,939 · end of year $816,587

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

    $269,230,925

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

    $110,857,590

  • 10c · Land, buildings and equipment, net

    beginning of year $153,453,215 · end of year $158,373,335

  • 13 · Investments: program-related

    beginning of year $36,796,859 · end of year $48,336,315

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,462,069 · end of year $13,094,984

  • 19 · Deferred revenue

    beginning of year $3,959,878 · end of year $3,503,235

  • 23 · Secured mortgages and notes payable

    beginning of year $121,139,997 · end of year $126,921,690

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

    beginning of year $17,295,736 · end of year $18,688,383

  • 31 · Retained earnings, endowment or other funds

    beginning of year $56,869,068 · end of year $56,350,156

Mission and programs · 2023

Mission

See Schedule O

  • San Isabel Electric Association is an electric distribution cooperative that provided approximately 27,000 services to its approximately 21,000 members in all or parts of seven counties in Southern Colorado.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eldon Ryan Elarton

    General Manager

    Total calculated
    $284,238
    From this org
    $232,806
    From related orgs
    $0
    Other
    $51,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,806
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,667
    Nontaxable benefits
    $27,765
    Filer's total
    $284,238

  • James Hardy

    Lineman

    Total calculated
    $236,099
    From this org
    $173,291
    From related orgs
    $0
    Other
    $62,808
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,291
    Bonus
    not reported
    Other
    not reported
    Deferred
    $44,172
    Nontaxable benefits
    $18,636
    Filer's total
    $236,099

  • Gary Eitel

    Chief Administrative Officer

    Total calculated
    $228,780
    From this org
    $148,019
    From related orgs
    $0
    Other
    $80,761
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,019
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,608
    Nontaxable benefits
    $27,153
    Filer's total
    $228,780

  • Darryl Stewart

    Chief Operating Officer

    Total calculated
    $220,707
    From this org
    $182,478
    From related orgs
    $0
    Other
    $38,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,478
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,053
    Nontaxable benefits
    $19,176
    Filer's total
    $220,707

  • Brendon Beach

    Lineman

    Total calculated
    $190,804
    From this org
    $152,894
    From related orgs
    $0
    Other
    $37,910
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,894
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,166
    Nontaxable benefits
    $26,744
    Filer's total
    $190,804

  • Lisa Folga

    Chief Business Officer

    Total calculated
    $178,767
    From this org
    $125,582
    From related orgs
    $0
    Other
    $53,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,582
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,349
    Nontaxable benefits
    $26,836
    Filer's total
    $178,767

  • Steven Zavesky

    Lineman

    Total calculated
    $171,054
    From this org
    $150,637
    From related orgs
    $0
    Other
    $20,417
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,637
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,081
    Nontaxable benefits
    $9,336
    Filer's total
    $171,054

  • Deborah Rose

    Director

    Total calculated
    $23,400
    From this org
    $23,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    26

  • Don Tokar

    Director

    Total calculated
    $18,775
    From this org
    $18,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Dennis Maroney

    Director

    Total calculated
    $14,047
    From this org
    $14,047
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Edward R Garcia

    Director

    Total calculated
    $12,550
    From this org
    $12,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Jacque Sikes

    Director

    Total calculated
    $11,475
    From this org
    $11,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Doris Morgan

    Director

    Total calculated
    $11,300
    From this org
    $11,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Donald Keairns

    Director

    Total calculated
    $7,650
    From this org
    $7,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

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

  • 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

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

  • Energy Outreach Colorado

    $21,893

    Donate LEAP Program

  • Valley First

    $10,000

  • Pueblo County

    $5,000

    Showcase Sale

  • Huerfano County

    $5,000

    4H Fair Board

  • Las Animas County

    $5,000

    County Fair Board

Provenance

Return type
form_990
Tax year
2023
Filed
7 October 2024
IRS schema version
2023v5.1
Source object
202412829349302101

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