Southeast Colorado Power Association
- Assets
- $108.7m
- Revenue
- $38.8m
- Investments
- $8.7m
- Employees
- 62
- Location
- La Junta, CO
- Founding
- 07/1948
- Data as of
- 12/2021
- 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 12/2021, Southeast Colorado Power Association employed 62 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 12/2021, Southeast Colorado Power Association generated $38.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $36.0m during the year ending 12/2021. While expenses have increased by 3.6% per year over the past 7 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
2021
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 |
|---|---|---|---|
Jack Johnston CEO Until 11/21 | Officer | 40 | $329,443 |
Mark Hall Chief Operating Officer | 40 | $143,473 | |
Philip Hinds Working Foreman | 40 | $125,294 | |
Mike Trumble Line Superintendent | 40 | $123,356 | |
Bruce Barnhart Working Foreman | 40 | $122,932 | |
Kevin Brandon Interim CEO Beg 11/21 | Officer | 40 | $121,066 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Altitude Energyllc Construction | 12/30/21 | $1,047,638 |
Lewis Roca Rothgerber Christie Attorney | 12/30/21 | $178,771 |
Stampede Services Contract Construction | 12/30/21 | $146,871 |
Solomon Corporation Transformer/ocr/etc Repairs | 12/30/21 | $155,690 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,047,803 |
| 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 | $1,047,803 |
| Total Program Service Revenue | $36,454,543 |
| Investment income | $261,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,617 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,826,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,727 |
| Grants and other assistance to domestic individuals. | $9,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,446,749 |
| Compensation of current officers, directors, key employees. | $746,166 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $639,445 |
| 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 | $1,286,538 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,958,505 |
| Insurance | $0 |
| All other expenses | $1,434,464 |
| Total functional expenses | $35,950,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $790,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,890,890 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $176,000 |
| Inventories for sale or use | $1,265,068 |
| Prepaid expenses and deferred charges | $6,919,477 |
| Net Land, buildings, and equipment | $68,503,283 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,668,392 |
| Investments—program-related | $18,622,407 |
| Intangible assets | $0 |
| Other assets | $815,353 |
| Total assets | $108,651,331 |
| Accounts payable and accrued expenses | $3,368,925 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $42,059,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $830,389 |
| Total liabilities | $46,258,343 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $108,651,331 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southeast Colorado Power Association has recieved totaling $110,000.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $110,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sulphur Springs Valley Electric Cooperative Inc Willcox, AZ | $321,892,538 | $124,995,046 |
Trico Electric Cooperative Inc Marana, AZ | $268,045,549 | $107,861,208 |
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Pioneer Electric Cooperative Inc Ulysses, KS | $284,468,248 | $104,061,245 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Prairie Land Electric Cooperative Inc Norton, KS | $193,607,034 | $87,385,850 |
Victory Electric Cooperative Association Inc Dodge City, KS | $181,839,680 | $85,802,968 |
Northeast Oklahoma Electric Cooperative Inc Vinita, OK | $249,522,381 | $85,761,419 |
Moon Lake Electric Association Inc Roosevelt, UT | $157,473,371 | $84,270,268 |
Mohave Electric Cooperative Inc Bullhead City, AZ | $252,184,313 | $80,080,972 |
Verdigris Valley Electric Cooperative Incorporated Collinsville, OK | $207,857,115 | $78,783,085 |