Southeast Colorado Power Association
- Assets
- $114.1m
- Revenue
- $36.9m
- Investments
- $8.9m
- Employees
- 59
- Location
- La Junta, CO
- Founding
- 07/1948
- Data as of
- 12/2023
- EIN
- 84-0147605
Organization Overview
Southeast Colorado Power Association is located in La Junta, CO. The organization was established in 1948. 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, Southeast Colorado Power Association employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeast Colorado Power Association 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, Southeast Colorado Power Association generated $36.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $36.0m during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
PROVIDE ELECTRIC SERVICE TO MEMBERS ON A NOT-FOR-PROFIT BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLD AND DISTRIBUTED ELECTRICITY TO RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Truman Wright President | OfficerTrustee | 1.2 | $6,750 |
Clint Anderson Vice President | OfficerTrustee | 0.9 | $6,750 |
Merlin Rushton Secretary | OfficerTrustee | 1.9 | $6,150 |
Kevin Karney Director (until April 2023) | Trustee | 0.3 | $2,000 |
Randy Phillips Director | Trustee | 1.1 | $6,300 |
Brad Buck Director | Trustee | 0.9 | $6,150 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stampede Services Contract Construction | 12/30/22 | $1,231,153 |
Altitude Energyllc Construction | 12/30/22 | $222,753 |
Sunbelt Solomon Services Transformer/ocr/etc Repairs | 12/30/22 | $204,102 |
Asplundh Tree Expert Co Tree Trimming | 12/30/22 | $196,041 |
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 | $36,015,176 |
| Investment income | $270,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,166 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,944,352 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $44,181 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,844,504 |
| Compensation of current officers, directors, key employees. | $480,002 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $717,531 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $1,301,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,214,950 |
| Insurance | $0 |
| All other expenses | $2,120,209 |
| Total functional expenses | $36,044,213 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,298,866 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,620,342 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $80,000 |
| Inventories for sale or use | $1,838,888 |
| Prepaid expenses and deferred charges | $5,902,649 |
| Net Land, buildings, and equipment | $74,007,698 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,910,771 |
| Investments—program-related | $18,701,426 |
| Intangible assets | $0 |
| Other assets | $708,944 |
| Total assets | $114,069,584 |
| Accounts payable and accrued expenses | $3,208,198 |
| Grants payable | $0 |
| Deferred revenue | $111,473 |
| 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 | $40,196,840 |
| Unsecured mortgages and notes payable | $2,449,670 |
| Other liabilities | $650,089 |
| Total liabilities | $46,616,270 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $67,453,314 |
| Total liabilities and net assets/fund balances | $114,069,584 |