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Nonprofiteer
← SAN LUIS VALLEY RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by SAN LUIS VALLEY RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$44,328,084
Total expenses
$44,328,084
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$44,097,804
Investment income
$215,162
Other revenue
$15,118
Total assets, end of year
$157,741,137
Total liabilities, end of year
$102,073,863
Net assets or fund balances, end of year
$55,667,274
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 $35,929,796 · related or exempt $35,929,796 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Broadband Revenue

    total $7,274,344 · related or exempt $7,274,344 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Capital Credit Revenue

    total $769,863 · related or exempt $769,863 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Fee & Service Revenue

    total $118,972 · related or exempt $118,972 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Warehouse Sales

    total $5,634 · related or exempt $5,634 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total -$805 · related or exempt -$805 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $124,877 · related or exempt $0 · unrelated business $0 · excluded $124,877

  • 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 $0 · personal property $15,118

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $15,118

  • 6d · Net rental income or loss

    total $15,118 · related or exempt $0 · unrelated business $0 · excluded $15,118

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $90,285

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $90,285

  • 7d · Net gain or loss

    total $90,285 · related or exempt $0 · unrelated business $0 · excluded $90,285

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,952,736

  • 5 · Compensation of officers, directors and key employees

    total $1,895,659

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,600,630

  • 8 · Pension plan contributions

    total $527,759

  • 9 · Other employee benefits

    total $1,423,622

  • 10 · Payroll taxes

    total $359,515

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $40,197

  • 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 $94,288

  • 13 · Office expenses

    total $14,778

  • 14 · Information technology

    total $318,346

  • 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 $78,790

  • 20 · Interest

    total $4,687,528

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $6,393,615

  • 23 · Insurance

    total $182,138

  • 24a · Other expenses: Power Cost

    total $17,309,329

  • 24b · Other expenses: Distribution Expense

    total $3,099,078

  • 24c · Other expenses: Broadband Expense

    total $2,036,850

  • 24d · Other expenses: Customer Account & Service Expense

    total $818,651

  • 24e · All other expenses

    total $494,575

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $866,945 · end of year $647,927

  • 2 · Savings and temporary cash investments

    beginning of year $530,721 · end of year $1,533,985

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $4,175,836 · end of year $4,512,932

  • 8 · Inventories for sale or use

    beginning of year $7,047,575 · end of year $6,798,621

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,473,504 · end of year $1,245,292

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

    $188,465,674

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

    $73,907,255

  • 10c · Land, buildings and equipment, net

    beginning of year $113,413,763 · end of year $114,558,419

  • 11 · Investments: publicly traded securities

    beginning of year $979,815 · end of year $1,133,622

  • 13 · Investments: program-related

    beginning of year $23,153,750 · end of year $23,373,845

  • 14 · Intangible assets

    beginning of year $151,246

  • 15 · Other assets

    beginning of year $2,096,160 · end of year $3,936,494

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,346,046 · end of year $5,475,781

  • 19 · Deferred revenue

    beginning of year $26,098 · end of year $18,268

  • 23 · Secured mortgages and notes payable

    beginning of year $91,917,267 · end of year $93,512,651

  • 25 · Other liabilities

    beginning of year $2,795,963 · end of year $3,067,163

  • 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 $53,803,941 · end of year $55,667,274

Mission and programs · 2024

Mission

Sales of Electric power to Members. We had 13,355 meters in place at the end of 2024.

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 2024 return.

Listed in Part VII

  • Eric Eriksen

    Chief Executive Officer

    Total calculated
    $369,413
    From this org
    $303,302
    From related orgs
    $0
    Other
    $66,111
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $303,302
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $66,111
    Filer's total
    $369,413

  • Marvin Martinez

    Area Serviceman

    Total calculated
    $272,424
    From this org
    $199,019
    From related orgs
    $0
    Other
    $73,405
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $193,475
    Bonus
    $5,544
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $73,405
    Filer's total
    $272,424

  • JoAn Waudby

    Treasurer / Chief Financial Officer

    Total calculated
    $255,774
    From this org
    $196,556
    From related orgs
    $0
    Other
    $59,218
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $192,134
    Bonus
    $4,422
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $59,218
    Filer's total
    $255,774

  • Stacy Valdez

    Manager of Customer Service and Billing

    Total calculated
    $240,247
    From this org
    $174,600
    From related orgs
    $0
    Other
    $65,647
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $163,946
    Bonus
    $10,655
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $65,647
    Filer's total
    $240,248

  • Monroe Johnson

    Chief Technology Officer

    Total calculated
    $237,942
    From this org
    $177,982
    From related orgs
    $0
    Other
    $59,960
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $165,900
    Bonus
    $12,082
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $59,960
    Filer's total
    $237,942

  • Rudolph Viialpando

    Sericeman

    Total calculated
    $234,783
    From this org
    $172,027
    From related orgs
    $0
    Other
    $62,756
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $169,255
    Bonus
    $2,772
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $62,756
    Filer's total
    $234,783

  • Michelle Trujillo

    Assistant Secretary / Human Resource Manager

    Total calculated
    $231,769
    From this org
    $175,615
    From related orgs
    $0
    Other
    $56,154
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $164,417
    Bonus
    $11,198
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $56,154
    Filer's total
    $231,769

  • Shawn McKibbon

    Chief Operating Officer

    Total calculated
    $228,176
    From this org
    $172,681
    From related orgs
    $0
    Other
    $55,495
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $161,800
    Bonus
    $10,881
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $55,495
    Filer's total
    $228,176

  • Wade Warman

    Working Foreman

    Total calculated
    $227,984
    From this org
    $162,875
    From related orgs
    $0
    Other
    $65,109
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $156,387
    Bonus
    $6,489
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $65,109
    Filer's total
    $227,985

  • Ryan Christensen

    Working Foremen

    Total calculated
    $225,000
    From this org
    $169,614
    From related orgs
    $0
    Other
    $55,386
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $163,125
    Bonus
    $6,489
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $55,386
    Filer's total
    $225,000

  • Randy Magnuson

    Working Foremen

    Total calculated
    $222,960
    From this org
    $169,991
    From related orgs
    $0
    Other
    $52,969
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $163,502
    Bonus
    $6,489
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $52,969
    Filer's total
    $222,960

  • Terry Daley

    Engineering Manager

    Total calculated
    $222,393
    From this org
    $154,275
    From related orgs
    $0
    Other
    $68,118
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $147,034
    Bonus
    $7,241
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $68,118
    Filer's total
    $222,393

  • Keenan Anderson

    Board Presidentt

    Total calculated
    $28,527
    From this org
    $28,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • Scott Wolf

    Director

    Total calculated
    $28,227
    From this org
    $28,227
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.79

  • Carol Lee Dugan

    Director

    Total calculated
    $19,868
    From this org
    $19,868
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.09

  • Stephen Valdez

    Vice President

    Total calculated
    $12,657
    From this org
    $12,657
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.71

  • Kim Wakasugi

    Director

    Total calculated
    $11,323
    From this org
    $11,323
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.63

  • Creede Hargraves

    Director

    Total calculated
    $5,606
    From this org
    $5,606
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.93

  • Wade Lockhart

    Secretary

    Total calculated
    $3,735
    From this org
    $3,735
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.91

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
2024
Filed
14 July 2025
IRS schema version
2024v5.0
Source object
202541989349300149

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