Delta-Montrose Electric Association
- Assets
- $261.0m
- Revenue
- $79.0m
- Investments
- $3.8m
- Employees
- 142
- Location
- Montrose, CO
- Founding
- 06/1946
- Data as of
- 12/2023
- EIN
- 84-0185658
Organization Overview
Delta-Montrose Electric Association is located in Montrose, CO. The organization was established in 1946. 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, Delta-Montrose Electric Association employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delta-Montrose Electric 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, Delta-Montrose Electric Association generated $79.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $82.6m during the year ending 12/2023. While expenses have increased by 2.6% 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
WE POWER AND UNITE COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL, WITH 36,691 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Assistant Secretary/treasurer | OfficerTrustee | 5.6 | $15,185 |
Name Not Listed Vice President | OfficerTrustee | 6.4 | $17,560 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 6.4 | $14,845 |
Name Not Listed President | OfficerTrustee | 8 | $8,300 |
Name Not Listed President | OfficerTrustee | 8 | $17,965 |
Name Not Listed Director | Trustee | 9.2 | $23,430 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lightworks Fiber & Consulting Llc Fiber Construction | 12/30/23 | $10,399,441 |
Mccall Concrete Construction Construction | 12/30/23 | $213,636 |
Cohick Excavation Llc Construction | 12/30/23 | $175,046 |
Holland & Hart Attorneys Legal | 12/30/23 | $110,237 |
Avila Construction Llc Construction | 12/30/23 | $104,845 |
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 | $73,014,004 |
| Investment income | $1,567,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,257,022 |
| Net Gain/Loss on Asset Sales | $46,488 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,980,604 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,446 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,867,065 |
| Compensation of current officers, directors, key employees. | $1,876,914 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,420,121 |
| Pension plan accruals and contributions | $1,433,612 |
| Other employee benefits | $1,036,265 |
| Payroll taxes | $659,172 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $351,088 |
| Fees for services: Accounting | $85,938 |
| Fees for services: Lobbying | $71,511 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $70,978 |
| 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 | $4,988,954 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,627,208 |
| Insurance | $0 |
| All other expenses | $500,659 |
| Total functional expenses | $82,566,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,721,023 |
| Savings and temporary cash investments | $1,820,666 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,520,806 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,668,562 |
| Inventories for sale or use | $5,910,601 |
| Prepaid expenses and deferred charges | $586,221 |
| Net Land, buildings, and equipment | $193,974,489 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,790,000 |
| Investments—program-related | $2,846,320 |
| Intangible assets | $0 |
| Other assets | $16,124,223 |
| Total assets | $260,962,911 |
| Accounts payable and accrued expenses | $15,358,847 |
| Grants payable | $0 |
| Deferred revenue | $15,162,948 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $853,523 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $137,666,647 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,022,333 |
| Total liabilities | $201,064,298 |
| 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 | $59,898,613 |
| Total liabilities and net assets/fund balances | $260,962,911 |
Grants Awarded
Over the last fiscal year, Delta-Montrose Electric Association has awarded $200,446 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ENERGY OUTREACH COLORADO PURPOSE: Energy Assistance | $18,146 |
MONTROSE COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIP FUND | $57,300 |
MASLOW ACADEMY OF APPLIED LEARNING PURPOSE: GENERAL SUPPORT | $30,000 |
HISPANIC AFFAIRS PROJECT PURPOSE: BUILDING RENOVATION | $30,000 |
NFRIA WSERC CONSERVATION CENTER INC PURPOSE: RIVER PARK | $25,000 |
PEER KINDNESS INC PURPOSE: GENERAL SUPPORT | $20,000 |