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Nonprofiteer
← KIT CARSON ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by KIT CARSON ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$58,185,291
Total expenses
$58,283,772
Contributions and grants received
$1,780,038
Grants paid
$0
Program service revenue
$56,093,308
Investment income
$41,960
Other revenue
$269,985
Total assets, end of year
$182,342,774
Total liabilities, end of year
$127,672,273
Net assets or fund balances, end of year
$54,670,501
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.

  • 1e · Government grants (contributions)

    $1,780,038

  • 2a · Program service revenue: SALE OF POWER

    total $42,537,830 · related or exempt $42,537,830

  • 2b · Program service revenue: TELECOM AND INTERNET REVENUE

    total $13,151,270 · related or exempt $13,006,606 · unrelated business $144,664

  • 2c · Program service revenue: CAPITAL CREDITS

    total $386,370 · related or exempt $386,370

  • 2d · Program service revenue: OTHER OPERATING REVENUE

    total $17,838 · related or exempt $17,838

  • 3 · Investment income

    total $37,159 · excluded $37,159

  • 6a · Gross rents

    real property $114,480

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $114,480

  • 6d · Net rental income or loss

    total $114,480 · excluded $114,480

  • 7a · Gross sales of assets other than inventory

    securities $4,801

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

    securities $0

  • 7c · Gain or loss

    securities $4,801

  • 7d · Net gain or loss

    total $4,801 · excluded $4,801

  • 11a · Other revenue: MANAGEMENT FEE

    total $155,505 · unrelated business $155,505

  • 11e · Other revenue, total

    $155,505

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $457,564

  • 5 · Compensation of officers, directors and key employees

    total $1,330,900

  • 7 · Other salaries and wages

    total $6,568,674

  • 8 · Pension plan contributions

    total $874,518

  • 10 · Payroll taxes

    total $557,643

  • 20 · Interest

    total $3,312,550

  • 22 · Depreciation, depletion and amortization

    total $5,942,381

  • 24a · Other expenses: COST OF POWER

    total $26,173,139

  • 24b · Other expenses: ADMIN & GENERAL

    total $6,046,730

  • 24c · Other expenses: DISTRIBUTION-OPERATIONS

    total $2,971,660

  • 24d · Other expenses: DISTRIBUTION-MAINTENANC

    total $2,707,314

  • 24e · All other expenses

    total $1,340,699

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $877,878 · end of year $5,526,067

  • 4 · Accounts receivable

    beginning of year $19,606,183 · end of year $13,604,720

  • 7 · Other notes and loans receivable

    beginning of year $5,231 · end of year $5,231

  • 8 · Inventories for sale or use

    beginning of year $3,592,888 · end of year $4,208,817

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,094,411 · end of year $5,848,398

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

    $188,952,742

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

    $85,519,767

  • 10c · Land, buildings and equipment, net

    beginning of year $91,536,196 · end of year $103,432,975

  • 12 · Investments: other securities

    beginning of year $1,415,137 · end of year $984,805

  • 13 · Investments: program-related

    beginning of year $3,639,752 · end of year $3,919,069

  • 15 · Other assets

    beginning of year $40,507,539 · end of year $44,812,692

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,722,461 · end of year $8,373,715

  • 19 · Deferred revenue

    beginning of year $41,269 · end of year $41,269

  • 21 · Escrow or custodial account liability

    beginning of year $12,537 · end of year $12,913

  • 23 · Secured mortgages and notes payable

    beginning of year $97,658,623 · end of year $104,184,556

  • 24 · Unsecured notes and loans payable

    beginning of year $1,316,886 · end of year $10,474,693

  • 25 · Other liabilities

    beginning of year $5,053,109 · end of year $4,585,127

  • 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 $54,470,330 · end of year $54,670,501

Mission and programs · 2025

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 31,125 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

  • PROVIDING INTERNET SERVICES TO OUR MEMBERS - 15,438 ACTIVE SERVICES AT YEAR END WERE PROVIDED INTERNET SERVICE ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

As filed on the 2025 return.

Listed in Part VII

  • Bruce Jassman

    TREASURER

    Total calculated
    $26,800
    From this org
    $26,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7 + 1 related

  • Robert Ortega Sr

    PRESIDENT

    Total calculated
    $30,150
    From this org
    $30,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    7 + 1 related

  • David Torres

    TRUSTEE

    Total calculated
    $7,050
    From this org
    $7,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Arthur Rodarte

    TRUSTEE

    Total calculated
    $25,500
    From this org
    $25,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Russ A Coyle

    TRUSTEE

    Total calculated
    $20,400
    From this org
    $20,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Manuel Medina

    SECRETARY

    Total calculated
    $22,672
    From this org
    $22,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 1 related

  • Luisa Valerio Mylet

    TRUSTEE

    Total calculated
    $21,300
    From this org
    $21,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bernie Torres

    TRUSTEE

    Total calculated
    $20,100
    From this org
    $20,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Christobal Duran

    VICE PRESIDENT

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7 + 1 related

  • Martin Dimas

    TRUSTEE

    Total calculated
    $16,450
    From this org
    $16,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Sylvia Vigil

    TRUSTEE

    Total calculated
    $16,172
    From this org
    $16,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Luis A Reyes Jr

    CEO

    Total calculated
    $538,813
    From this org
    $473,206
    From related orgs
    $0
    Other
    $65,607
    Hours/week
    66 + 4 related

    Schedule J breakdown matched by us

    Base
    $472,706
    Bonus
    $500
    Other
    $0
    Deferred
    $52,009
    Nontaxable benefits
    $13,598
    Filer's total
    $538,813

  • Cletus Stoflet

    CFO FROM 04/2025

    Total calculated
    $193,843
    From this org
    $157,516
    From related orgs
    $0
    Other
    $36,327
    Hours/week
    50 + 4 related

    Schedule J breakdown matched by us

    Base
    $157,016
    Bonus
    $500
    Other
    $0
    Deferred
    $26,728
    Nontaxable benefits
    $9,599
    Filer's total
    $193,843

  • John Shafto

    CFO UNTIL 05/2025

    Total calculated
    $119,255
    From this org
    $96,926
    From related orgs
    $0
    Other
    $22,329
    Hours/week
    50

  • Richard Martinez

    COO

    Total calculated
    $270,595
    From this org
    $208,589
    From related orgs
    $0
    Other
    $62,006
    Hours/week
    57 + 3 related

    Schedule J breakdown matched by us

    Base
    $208,089
    Bonus
    $500
    Other
    $0
    Deferred
    $33,454
    Nontaxable benefits
    $28,552
    Filer's total
    $270,595

  • Carmella Suazo

    ASSISTANT MANAGER

    Total calculated
    $214,986
    From this org
    $167,505
    From related orgs
    $0
    Other
    $47,481
    Hours/week
    48 + 2 related

    Schedule J breakdown matched by us

    Base
    $167,005
    Bonus
    $500
    Other
    $0
    Deferred
    $28,149
    Nontaxable benefits
    $19,332
    Filer's total
    $214,986

  • Fidel Lopez

    LEAD LINEMAN

    Total calculated
    $165,841
    From this org
    $141,016
    From related orgs
    $0
    Other
    $24,825
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $140,516
    Bonus
    $500
    Other
    $0
    Deferred
    $15,225
    Nontaxable benefits
    $9,599
    Filer's total
    $165,840

  • Austin Martinez

    LEAD LINEMAN

    Total calculated
    $192,587
    From this org
    $154,905
    From related orgs
    $0
    Other
    $37,682
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $154,405
    Bonus
    $500
    Other
    $0
    Deferred
    $9,130
    Nontaxable benefits
    $28,552
    Filer's total
    $192,587

  • Carlos Rivera

    LEAD LINEMAN

    Total calculated
    $164,776
    From this org
    $139,765
    From related orgs
    $0
    Other
    $25,011
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $139,265
    Bonus
    $500
    Other
    $0
    Deferred
    $14,669
    Nontaxable benefits
    $10,342
    Filer's total
    $164,776

  • Jose Lovato

    INTERNET MANAGER

    Total calculated
    $175,244
    From this org
    $135,294
    From related orgs
    $0
    Other
    $39,950
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $134,794
    Bonus
    $500
    Other
    $0
    Deferred
    $11,398
    Nontaxable benefits
    $28,552
    Filer's total
    $175,244

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 committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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.

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.

  • KIT CARSON ENERGY INC

    C · PROPANE SALES · NM · 100% owned · share of income $2,212,208 · share of assets $3,234,629 · controlled entity

    Directly controlled by KIT CARSON ELECTRIC COOPERATIVE INC

  • TAOS MESA ENERGY FACILITY LLC

    C · SOLAR ARRAY · NM · 100% owned · share of income $4,606,623 · share of assets $35,104,242 · controlled entity

    Directly controlled by KIT CARSON ELECTRIC COOPERATIVE INC

  • ANGEL FIRE ENERGY FACILITY LLC

    C · SOLAR ARRAY · NM · 100% owned · share of income $1,484,919 · share of assets $13,016,739 · controlled entity

    Directly controlled by KIT CARSON ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2025
Filed
25 August 2026
IRS schema version
2025v4.2
Source object
202642439349301569

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