San Miguel Power Association Inc
- Assets
- $94.6m
- Revenue
- $33.2m
- Investments
- $0.0
- Employees
- 58
- Location
- Nucla, CO
- Founding
- 08/1939
- Data as of
- 12/2023
- EIN
- 84-0312816
Organization Overview
San Miguel Power Association Inc is located in Nucla, CO. The organization was established in 1939. 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, San Miguel Power Association Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Miguel Power Association 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, San Miguel Power Association Inc generated $33.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $33.1m during the year ending 12/2023. While expenses have increased by 3.0% per year over the past 6 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
IT IS THE MISSION OF THE SAN MIGUEL POWER ASSOCIATION TO PROVIDE OUR MEMBERS WITH SAFE, RELIABLE, COST-EFFECTIVE, AND ENVIRONMENTALLY RESPONSIBLE ELECTRICAL SERVICE, WHILE DEMONSTRATING BOTH COOPERATIVE RESPONSIBILITY AND SUPPORT FOR THE COMMUNITIES WE SERVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC POWER TO MEMBERS - 10,761 ACTIVE MEMBERS WERE PROVIDED POWER AT YEAR END AT A COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley Zaporski CEO | Officer | 50 | $395,178 |
Jeremy Fox COO | Officer | 50 | $195,514 |
Lance Lehigh CFO | Officer | 50 | $180,188 |
Wiley Freeman Manager | 50 | $173,388 | |
Doug Tea Manager | 50 | $179,893 | |
Clint Colson Foreman | 40 | $133,144 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western Line Builders Inc Line Building | 12/30/23 | $660,643 |
Asplundh Tree Expert Llc Tree Trimming | 12/30/23 | $531,973 |
Eric Jacobson Hydro Power | 12/30/23 | $339,200 |
Savatree Llc Tree Trimming | 12/30/23 | $354,658 |
Nisc Software Services | 12/30/23 | $309,546 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,517 |
| 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 | $104,517 |
| Total Program Service Revenue | $32,590,381 |
| Investment income | $341,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $87,776 |
| Net Gain/Loss on Asset Sales | $16,489 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,163,684 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $21,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,510,987 |
| Compensation of current officers, directors, key employees. | $1,061,581 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $965,602 |
| 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 | $1,158,811 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,673,172 |
| Insurance | $0 |
| All other expenses | $12,250 |
| Total functional expenses | $33,090,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,992,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,611,136 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,004,049 |
| Prepaid expenses and deferred charges | $119,973 |
| Net Land, buildings, and equipment | $66,153,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $19,555,872 |
| Intangible assets | $0 |
| Other assets | $205,444 |
| Total assets | $94,642,693 |
| Accounts payable and accrued expenses | $6,687,353 |
| Grants payable | $0 |
| Deferred revenue | $2,253,280 |
| 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 | $33,208,137 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $2,937,825 |
| Total liabilities | $47,086,595 |
| 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 | $47,556,098 |
| Total liabilities and net assets/fund balances | $94,642,693 |