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Nonprofiteer
← SANGRE DE CRISTO ELECTRIC ASSOCIATION INCORPORATED

Form 990 for tax year 2024

Filed by SANGRE DE CRISTO ELECTRIC ASSOCIATION INCORPORATED.

Totals

Total revenue
$26,130,698
Total expenses
$26,130,698
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,867,150
Investment income
$191,353
Other revenue
$72,195
Total assets, end of year
$80,958,355
Total liabilities, end of year
$53,435,005
Net assets or fund balances, end of year
$27,523,350
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 $24,592,605 · related or exempt $24,592,605

  • 2b · Program service revenue: Capital Credits

    total $1,110,769 · related or exempt $1,110,769

  • 2c · Program service revenue: Miscelleous Electric

    total $163,776 · related or exempt $163,776

  • 3 · Investment income

    total $191,353 · excluded $191,353

  • 6a · Gross rents

    personal property $29,480

  • 6c · Rental income or loss

    personal property $29,480

  • 6d · Net rental income or loss

    total $29,480 · excluded $29,480

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Non-Operating

    total $42,715 · related or exempt $42,715

  • 11e · Other revenue, total

    $42,715

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,607,679

  • 5 · Compensation of officers, directors and key employees

    total $1,184,501

  • 7 · Other salaries and wages

    total $986,177

  • 20 · Interest

    total $1,459,400

  • 22 · Depreciation, depletion and amortization

    total $2,527,666

  • 24a · Other expenses: Cost of Power

    total $11,002,991 · program services $11,002,991

  • 24b · Other expenses: Distribution Expense

    total $3,092,920 · program services $3,092,920

  • 24c · Other expenses: Admin & General

    total $1,891,311 · program services $1,891,311

  • 24d · Other expenses: Member Services

    total $1,292,951 · program services $1,292,951

  • 24e · All other expenses

    total $85,102

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $892,817 · end of year $2,473,702

  • 2 · Savings and temporary cash investments

    beginning of year $340,000 · end of year $250,000

  • 3 · Pledges and grants receivable

    end of year $479,822

  • 4 · Accounts receivable

    beginning of year $2,678,106 · end of year $2,731,060

  • 8 · Inventories for sale or use

    beginning of year $2,703,149 · end of year $3,066,644

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,559,697 · end of year $1,472,972

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

    $87,575,942

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

    $29,913,147

  • 10c · Land, buildings and equipment, net

    beginning of year $52,904,177 · end of year $57,662,795

  • 13 · Investments: program-related

    beginning of year $11,955,029 · end of year $12,821,360

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,970,846 · end of year $4,410,258

  • 23 · Secured mortgages and notes payable

    beginning of year $42,036,332 · end of year $46,833,586

  • 25 · Other liabilities

    beginning of year $2,610,902 · end of year $2,191,161

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

    beginning of year $432,919 · end of year $472,461

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,981,976 · end of year $27,050,889

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Gary Kelly

    CEO

    Total calculated
    $416,778
    From this org
    $289,156
    From related orgs
    $0
    Other
    $127,622
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $289,156
    Bonus
    not reported
    Other
    not reported
    Deferred
    $99,170
    Nontaxable benefits
    $28,452
    Filer's total
    $416,778

  • Sarah Crites

    CFO

    Total calculated
    $276,207
    From this org
    $183,239
    From related orgs
    $0
    Other
    $92,968
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $183,239
    Bonus
    not reported
    Other
    not reported
    Deferred
    $65,738
    Nontaxable benefits
    $27,230
    Filer's total
    $276,207

  • Ryan Doke

    Manager of Operations

    Total calculated
    $206,844
    From this org
    $144,866
    From related orgs
    $0
    Other
    $61,978
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $144,866
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,536
    Nontaxable benefits
    $26,442
    Filer's total
    $206,844

  • Preston Ellis

    Line Superintendent

    Total calculated
    $206,622
    From this org
    $149,099
    From related orgs
    $0
    Other
    $57,523
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,099
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,083
    Nontaxable benefits
    $26,440
    Filer's total
    $206,622

  • Len Gates

    Manager of Engineering

    Total calculated
    $205,772
    From this org
    $135,924
    From related orgs
    $0
    Other
    $69,848
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $135,924
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,605
    Nontaxable benefits
    $26,243
    Filer's total
    $205,772

  • Matthew Shepherd

    Working Foreman

    Total calculated
    $197,834
    From this org
    $147,010
    From related orgs
    $0
    Other
    $50,824
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,010
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,585
    Nontaxable benefits
    $26,239
    Filer's total
    $197,834

  • Lucas Montgomery

    Working Foreman

    Total calculated
    $197,289
    From this org
    $157,942
    From related orgs
    $0
    Other
    $39,347
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $157,942
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,108
    Nontaxable benefits
    $26,239
    Filer's total
    $197,289

  • Josh Saar

    Lead Lineman

    Total calculated
    $194,571
    From this org
    $151,622
    From related orgs
    $0
    Other
    $42,949
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $151,622
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,710
    Nontaxable benefits
    $26,239
    Filer's total
    $194,571

  • Caden Creamer

    Lead Lineman

    Total calculated
    $189,861
    From this org
    $152,314
    From related orgs
    $0
    Other
    $37,547
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $152,314
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,416
    Nontaxable benefits
    $26,131
    Filer's total
    $189,861

  • Sandra Attebery

    Chair

    Total calculated
    $21,250
    From this org
    $21,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Mark W Boyle

    Director

    Total calculated
    $12,200
    From this org
    $12,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Charles A Abel

    Vice Chair

    Total calculated
    $11,450
    From this org
    $11,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jeffrey Fiedler

    Treasurer

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Blake Bennetts

    Secretary

    Total calculated
    $8,800
    From this org
    $8,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Sandra Long

    Director

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Nicholas Hellbusch

    Director

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rob Canterbury

    Director

    Total calculated
    $3,200
    From this org
    $3,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202523219349315717

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