Highline Electric Association
- Assets
- $127.4m
- Revenue
- $51.4m
- Investments
- $0.0
- Employees
- 70
- Location
- Holyoke, CO
- Founding
- 09/1951
- Data as of
- 12/2023
- EIN
- 84-0226805
Organization Overview
Highline Electric Association is located in Holyoke, CO. The organization was established in 1951. 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, Highline Electric Association employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Highline 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, Highline Electric Association generated $51.4m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $51.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 5 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 PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO THE MEMBERS AT THE BEST COST AND CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO THE COMPANYS MEMBERS WITHIN ITS SERVICE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Herman CEO | Officer | 44.9 | $265,620 |
Rance Ferguson Operations Manager | 40.4 | $170,084 | |
Jim Jackson CFO | Officer | 40.8 | $181,382 |
Alex Astley Engineering Manager | 41.2 | $170,829 | |
Tad Huser Member Services Manager | 40 | $135,368 | |
James Ziebarth System Engineer | 41.8 | $144,707 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Altitude Energy Llc Electrical Contrac | 12/30/23 | $1,190,639 |
Great Southwestern Construction Inc Electrical Contrac | 12/30/23 | $278,166 |
Ward Electric Company Inc Powerline Construc | 12/30/23 | $215,133 |
Long Hair Tree Service Tree Trimming | 12/30/23 | $162,698 |
Sunbelt Solomon Services Llc Mainenance | 12/30/23 | $108,399 |
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 | $50,955,409 |
| Investment income | $407,149 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$8,799 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,384,286 |
| 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 | $589,754 |
| Compensation of current officers, directors, key employees. | $913,365 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,776,816 |
| Pension plan accruals and contributions | $910,082 |
| Other employee benefits | $761,946 |
| Payroll taxes | $403,206 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $116,722 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,842 |
| Office expenses | $325,456 |
| 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 | $1,816,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,768,081 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $51,384,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,079,500 |
| Savings and temporary cash investments | $2,280,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,408,936 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,488,793 |
| Prepaid expenses and deferred charges | $1,573,744 |
| Net Land, buildings, and equipment | $71,877,797 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $42,735,259 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $127,444,029 |
| Accounts payable and accrued expenses | $4,845,926 |
| Grants payable | $0 |
| Deferred revenue | $2,500,000 |
| 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 | $64,514,992 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $956,745 |
| Total liabilities | $72,817,663 |
| 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 | $51,320,268 |
| Retained earnings, endowment, accumulated income, or other funds | $3,306,098 |
| Total liabilities and net assets/fund balances | $127,444,029 |