Kansas Electric Power Cooperative Inc
- Assets
- $312.0m
- Revenue
- $147.8m
- Investments
- $0.0
- Employees
- 26
- Location
- Topeka, KS
- Founding
- 06/1981
- Data as of
- 12/2023
- EIN
- 48-0836984
Organization Overview
Kansas Electric Power Cooperative Inc is located in Topeka, KS. The organization was established in 1981. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Kansas Electric Power Cooperative Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kansas Electric Power Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Kansas Electric Power Cooperative Inc generated $147.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $145.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROCURE AN ADEQUATE AND RELIABLE POWER SUPPLY FOR THE ORGANIZATION'S 16 DISTRIBUTION RURAL ELECTRIC COOPERATIVE MEMBER/OWNERS AT A REASONABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY TO 16 MEMBER/OWNER DISTRIBUTION COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Goeckel Vice-President | OfficerTrustee | 3 | $0 |
Mike Morton President | OfficerTrustee | 6 | $0 |
Bryan W Coover Secretary | OfficerTrustee | 3 | $12,449 |
Ken Hedberg Treasurer | OfficerTrustee | 3 | $12,923 |
Kevin Brownlee Trustee | Trustee | 3 | $0 |
Kevin Compton Trustee | Trustee | 3 | $12,923 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K&l Gates Llp Legal Assistance | 12/30/23 | $742,716 |
Gds Associates Inc Consulting | 12/30/23 | $190,224 |
Aces Energy Management | 12/30/23 | $122,703 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $145,751,928 |
| Investment income | $1,799,773 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,302 |
| Net Gain/Loss on Asset Sales | -$10,393 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $147,752,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $653,319 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,735,652 |
| Pension plan accruals and contributions | $711,835 |
| Other employee benefits | $692,775 |
| Payroll taxes | $207,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,750,686 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,693,858 |
| Insurance | $0 |
| All other expenses | $3,181,590 |
| Total functional expenses | $145,463,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,349 |
| Savings and temporary cash investments | $30,232,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,591,037 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,183,259 |
| Prepaid expenses and deferred charges | $6,643,526 |
| Net Land, buildings, and equipment | $192,189,432 |
| Investments—publicly traded securities | $39,482,268 |
| Investments—other securities | $0 |
| Investments—program-related | $10,451,378 |
| Intangible assets | $0 |
| Other assets | $14,065,437 |
| Total assets | $312,040,387 |
| Accounts payable and accrued expenses | $23,635,913 |
| Grants payable | $0 |
| Deferred revenue | $446,193 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $144,840,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,411,202 |
| Total liabilities | $222,334,141 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,200 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $89,703,046 |
| Total liabilities and net assets/fund balances | $312,040,387 |