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Nonprofiteer
← SANGRE DE CRISTO ELECTRIC ASSOCIATION INCORPORATED

Form 990 for tax year 2023

Filed by SANGRE DE CRISTO ELECTRIC ASSOCIATION INCORPORATED.

Totals

Total revenue
$23,854,613
Total expenses
$23,854,613
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$23,393,549
Investment income
$391,655
Other revenue
$69,409
Total assets, end of year
$73,032,975
Total liabilities, end of year
$47,618,080
Net assets or fund balances, end of year
$25,414,895
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 $22,837,049 · related or exempt $22,837,049

  • 2b · Program service revenue: Capital Credits

    total $415,791 · related or exempt $415,791

  • 2c · Program service revenue: Miscelleous Electric

    total $140,709 · related or exempt $140,709

  • 3 · Investment income

    total $186,684 · excluded $186,684

  • 6a · Gross rents

    personal property $26,868

  • 6c · Rental income or loss

    personal property $26,868

  • 6d · Net rental income or loss

    total $26,868 · excluded $26,868

  • 7a · Gross sales of assets other than inventory

    other assets $292,442

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

    other assets $87,471

  • 7c · Gain or loss

    other assets $204,971

  • 7d · Net gain or loss

    total $204,971 · unrelated business $204,971

  • 11a · Other revenue: Non-Operating

    total $42,541 · related or exempt $42,541

  • 11e · Other revenue, total

    $42,541

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,142,767

  • 5 · Compensation of officers, directors and key employees

    total $1,338,567

  • 7 · Other salaries and wages

    total $909,843

  • 20 · Interest

    total $1,391,682

  • 22 · Depreciation, depletion and amortization

    total $2,471,709

  • 24a · Other expenses: Cost of Power

    total $10,708,273 · program services $10,708,273

  • 24b · Other expenses: Distribution Expense

    total $2,722,381 · program services $2,722,381

  • 24c · Other expenses: Admin & General

    total $1,912,327 · program services $1,912,327

  • 24d · Other expenses: Member Services

    total $1,110,882 · program services $1,110,882

  • 24e · All other expenses

    total $146,182

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,979,989 · end of year $892,817

  • 2 · Savings and temporary cash investments

    beginning of year $340,000 · end of year $340,000

  • 4 · Accounts receivable

    beginning of year $2,775,027 · end of year $2,678,106

  • 8 · Inventories for sale or use

    beginning of year $2,429,546 · end of year $2,703,149

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,412,527 · end of year $1,559,697

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

    $81,578,885

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

    $28,674,708

  • 10c · Land, buildings and equipment, net

    beginning of year $50,486,651 · end of year $52,904,177

  • 13 · Investments: program-related

    beginning of year $11,947,010 · end of year $11,955,029

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,272,294 · end of year $2,970,846

  • 23 · Secured mortgages and notes payable

    beginning of year $40,938,472 · end of year $42,036,332

  • 25 · Other liabilities

    beginning of year $2,622,333 · end of year $2,610,902

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

    beginning of year $394,657 · end of year $432,919

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,142,994 · end of year $24,981,976

Mission and programs · 2023

Mission

To provide reliable electric power and related services to our members at the most affordable cost.

  • Sangre de Cristo Electric Association is an electric distribution cooperative that provided electricity to approximately 14,500 services of its members located in Colorado.

As filed on the 2023 return.

Listed in Part VII

  • Gary Kelly

    COOCEO

    Total calculated
    $354,339
    From this org
    $263,701
    From related orgs
    $0
    Other
    $90,638
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $263,701
    Bonus
    not reported
    Other
    not reported
    Deferred
    $68,300
    Nontaxable benefits
    $22,338
    Filer's total
    $354,339

  • Paul A Erickson

    CEO Jan-April

    Total calculated
    $347,607
    From this org
    $226,107
    From related orgs
    $0
    Other
    $121,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,107
    Bonus
    not reported
    Other
    not reported
    Deferred
    $113,559
    Nontaxable benefits
    $7,941
    Filer's total
    $347,607

  • Sarah McMahon

    CAO

    Total calculated
    $297,462
    From this org
    $225,580
    From related orgs
    $0
    Other
    $71,882
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,580
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,239
    Nontaxable benefits
    $18,643
    Filer's total
    $297,462

  • Sarah Crites

    Manager of Finance

    Total calculated
    $240,759
    From this org
    $172,105
    From related orgs
    $0
    Other
    $68,654
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $172,105
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,970
    Nontaxable benefits
    $21,684
    Filer's total
    $240,759

  • Cory Wagner

    Working Foreman

    Total calculated
    $195,287
    From this org
    $145,154
    From related orgs
    $0
    Other
    $50,133
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $145,154
    Bonus
    not reported
    Other
    not reported
    Deferred
    $38,276
    Nontaxable benefits
    $11,857
    Filer's total
    $195,287

  • Preston Ellis

    Working Foreman

    Total calculated
    $188,046
    From this org
    $137,852
    From related orgs
    $0
    Other
    $50,194
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $137,852
    Bonus
    not reported
    Other
    not reported
    Deferred
    $28,949
    Nontaxable benefits
    $21,245
    Filer's total
    $188,046

  • Matthew Shepherd

    Lead Lineman

    Total calculated
    $177,933
    From this org
    $134,940
    From related orgs
    $0
    Other
    $42,993
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $134,940
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,821
    Nontaxable benefits
    $21,172
    Filer's total
    $177,933

  • Lucas Montgomery

    Lead Lineman

    Total calculated
    $176,281
    From this org
    $143,742
    From related orgs
    $0
    Other
    $32,539
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $143,742
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,441
    Nontaxable benefits
    $21,098
    Filer's total
    $176,281

  • Joshua Saar

    Lead Lineman

    Total calculated
    $172,296
    From this org
    $135,818
    From related orgs
    $0
    Other
    $36,478
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $135,818
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,306
    Nontaxable benefits
    $21,172
    Filer's total
    $172,296

  • Sandra Attebery

    Chair

    Total calculated
    $15,200
    From this org
    $15,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Dan Daly

    Treasurer

    Total calculated
    $14,200
    From this org
    $14,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joseph Redetzke

    Chair

    Total calculated
    $12,800
    From this org
    $12,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Charles A Abel

    Vice Chair

    Total calculated
    $12,350
    From this org
    $12,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Blake Bennetts

    Secretary

    Total calculated
    $10,525
    From this org
    $10,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Nicholas Hellbusch

    Director

    Total calculated
    $10,450
    From this org
    $10,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michael Robinson

    Director

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Mark W Boyle

    Treasurer

    Total calculated
    $7,250
    From this org
    $7,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jeffrey Fiedler

    Director

    Total calculated
    $7,125
    From this org
    $7,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
27 September 2024
IRS schema version
2023v5.1
Source object
202442719349301639

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