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Nonprofiteer
← SOUTHEAST COLORADO POWER ASSOCIATION

Form 990 for tax year 2024

Filed by SOUTHEAST COLORADO POWER ASSOCIATION.

Totals

Total revenue
$39,078,343
Total expenses
$36,619,341
Contributions and grants received
$0
Grants paid
$31,246
Program service revenue
$38,078,537
Investment income
$410,862
Other revenue
$588,944
Total assets, end of year
$119,793,089
Total liabilities, end of year
$49,283,170
Net assets or fund balances, end of year
$70,509,919
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: SALE OF ELECTRICITY

    total $35,860,928 · related or exempt $35,860,928

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,635,816 · related or exempt $1,635,816

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

    total $295,055 · related or exempt $295,055

  • 2d · Program service revenue: RENTAL REVENUE

    total $243,600 · unrelated business $243,600

  • 2e · Program service revenue: POLE RENTAL REVENUE

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

  • 2f · All other program service revenue

    total $17,263 · related or exempt $17,263

  • 3 · Investment income

    total $254,622 · related or exempt $217,721 · unrelated business $21,884 · excluded $15,017

  • 7a · Gross sales of assets other than inventory

    other assets $156,240

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

    other assets $0

  • 7c · Gain or loss

    other assets $156,240

  • 7d · Net gain or loss

    total $156,240 · excluded $156,240

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $588,944 · related or exempt $244,433 · unrelated business $264,022 · excluded $80,489

  • 11e · Other revenue, total

    $588,944

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,246

  • 2 · Grants to domestic individuals

    total $8,000

  • 4 · Benefits paid to or for members

    total $976,979

  • 5 · Compensation of officers, directors and key employees

    total $426,020

  • 7 · Other salaries and wages

    total $904,644

  • 20 · Interest

    total $1,475,351

  • 22 · Depreciation, depletion and amortization

    total $4,460,515

  • 24a · Other expenses: FEDERAL INCOME TAXES

    total -$48,056

  • 24b · Other expenses: COST OF POWER PURCHASED

    total $20,285,238

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $3,506,248

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $2,435,378

  • 24e · All other expenses

    total $2,165,778

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,298,866 · end of year $762,947

  • 4 · Accounts receivable

    beginning of year $2,620,342 · end of year $2,744,519

  • 7 · Other notes and loans receivable

    beginning of year $80,000 · end of year $50,000

  • 8 · Inventories for sale or use

    beginning of year $1,838,888 · end of year $2,155,070

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,902,649 · end of year $5,529,726

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

    $141,593,375

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

    $62,822,518

  • 10c · Land, buildings and equipment, net

    beginning of year $74,007,698 · end of year $78,770,857

  • 12 · Investments: other securities

    beginning of year $8,910,771 · end of year $9,205,825

  • 13 · Investments: program-related

    beginning of year $18,701,426 · end of year $19,912,738

  • 15 · Other assets

    beginning of year $708,944 · end of year $661,407

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,208,198 · end of year $3,562,057

  • 19 · Deferred revenue

    beginning of year $111,473 · end of year $92,190

  • 23 · Secured mortgages and notes payable

    beginning of year $40,196,840 · end of year $43,480,920

  • 24 · Unsecured notes and loans payable

    beginning of year $2,449,670 · end of year $700,000

  • 25 · Other liabilities

    beginning of year $650,089 · end of year $1,448,003

  • 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 $67,453,314 · end of year $70,509,919

Mission and programs · 2024

Mission

OUR PRIMARY MISSION IS TO PROVIDE HIGH QUALITY, RELIABLE, ELECTRIC SERVICE AT A REASONABLE COST TO OUR MEMBERS, IMPROVE THEIR QUALITY OF LIFE THROUGH NEW TECHNOLOGIES AND SERVICES, BE A VISIBLE AND ACTIVE MEMBER OF THE COMMUNITY, AND SERVE OUR MEMBERS WITH RESPECT, COURTESY AND RESPONSIVENESS.

Activities or mission (Part I)

PROVIDE ELECTRIC SERVICE TO MEMBERS ON A NOT-FOR-PROFIT BASIS.

  • SOLD AND DISTRIBUTED ELECTRICITY TO RURAL MEMBERS.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Truman Wright

    PRESIDENT

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6 + 0.8 related

  • Clint Anderson

    VICE PRESIDENT

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6 + 0.8 related

  • Merlin Rushton

    SECRETARY

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1 + 0.8 related

  • Randy Phillips

    DIRECTOR

    Total calculated
    $9,340
    From this org
    $9,340
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8 + 0.8 related

  • Brad Buck

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7 + 0.8 related

  • Lawrence Brase

    DIRECTOR

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5 + 0.8 related

  • Michelle Gardner

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2 + 0.8 related

  • Kevin Brandon

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $320,815
    From this org
    $189,951
    From related orgs
    $0
    Other
    $130,864
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,043
    Bonus
    $0
    Other
    $10,908
    Deferred
    $100,187
    Nontaxable benefits
    $33,214
    Filer's total
    $323,352

  • Aaron Johnson

    CHIEF FINANCIAL OFFICER (BEG MAY)

    Total calculated
    $108,501
    From this org
    $91,655
    From related orgs
    $0
    Other
    $16,846
    Hours/week
    40

  • Mark Hall

    CHIEF OPERATING OFFICER

    Total calculated
    $251,449
    From this org
    $188,045
    From related orgs
    $0
    Other
    $63,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,397
    Bonus
    $0
    Other
    $1,648
    Deferred
    $40,007
    Nontaxable benefits
    $25,559
    Filer's total
    $253,611

  • Clint Arbuthnot

    WORKING FOREMAN

    Total calculated
    $191,882
    From this org
    $143,779
    From related orgs
    $0
    Other
    $48,103
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,152
    Bonus
    $0
    Other
    $11,627
    Deferred
    $20,339
    Nontaxable benefits
    $29,246
    Filer's total
    $193,364

  • Mike Trumble

    LINE SUPERINTENDENT

    Total calculated
    $261,919
    From this org
    $162,971
    From related orgs
    $0
    Other
    $98,948
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,799
    Bonus
    $0
    Other
    $3,172
    Deferred
    $68,652
    Nontaxable benefits
    $32,398
    Filer's total
    $264,021

  • Garrett Wertz

    WORKING FOREMAN

    Total calculated
    $191,207
    From this org
    $146,390
    From related orgs
    $0
    Other
    $44,817
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,337
    Bonus
    $0
    Other
    $11,053
    Deferred
    $14,081
    Nontaxable benefits
    $32,141
    Filer's total
    $192,612

  • John Jackson

    WORKING FOREMAN

    Total calculated
    $173,639
    From this org
    $154,952
    From related orgs
    $0
    Other
    $18,687
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,698
    Bonus
    $0
    Other
    $9,254
    Deferred
    $6,750
    Nontaxable benefits
    $13,346
    Filer's total
    $175,048

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

The filer's explanations (Part III)

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 VALUE IN THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: - KEVIN BRANDON $94,508 - MIKE TRUMBLE $63,884 - MARK HALL $34,627 - GARRET WERTZ $10,317 - CLINT ARBUTHNOT $16,452 - JOHN JACKSON $2,781 THE ACTUAL EXPENSE OF THE ASSOCIATION FOR DEFINED BENEFIT PLAN ARE AS FOLLOWS: - KEVIN BRANDON $39,238 - MIKE TRUMBLE $32,248 - MARK HALL $36,119 - GARRET WERTZ $23,814 - CLINT ARBUTHNOT $24,644 - JOHN JACKSON $13,617

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.

  • SECOM INC

    C · TELECOMMUNICATION · CO · 100% owned · share of income $14,670,105 · share of assets $24,617,110 · controlled entity

    Directly controlled by SOUTHEAST COLORADO POWER ASSOCIATION

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202512979349302026

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