San Miguel Power Association Inc
- Assets
- $92.9m
- Revenue
- $33.3m
- Investments
- $0.0
- Employees
- 60
- Location
- Nucla, CO
- Founding
- 08/1939
- Data as of
- 12/2021
- 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 12/2021, San Miguel Power Association Inc employed 60 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 12/2021, San Miguel Power Association Inc generated $33.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $31.9m during the year ending 12/2021. While expenses have increased by 1.7% 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
ELECTRIC DISTRIBUTION COOPERATIVE
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/general | Officer | 50 | $330,882 |
Duane Oliver Mgr. Of Oper | 45 | $144,247 | |
Doug Tea Mgr. Of It | 45 | $134,848 | |
Jacob Cadwell Working Fore | 45 | $126,738 | |
Jonathan Smith Journey Line | 45 | $126,360 | |
Tristan Barela Journey Line | 45 | $125,093 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Information Solutions Coop Software Provid | 12/30/21 | $279,172 |
Vm West Lp Vegetation Mgmt | 12/30/21 | $4,545,868 |
Asplundh Tree Expert Llc Tree Trimming | 12/30/21 | $605,458 |
Western Line Builders Inc Line Bldg Contr | 12/30/21 | $331,521 |
Esc Engineering Engineering Svc | 12/30/21 | $208,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,503,280 |
| 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 | $1,503,280 |
| Total Program Service Revenue | $31,745,528 |
| Investment income | $109,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,998 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,342,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,085 |
| Grants and other assistance to domestic individuals. | $18,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,595,412 |
| Compensation of current officers, directors, key employees. | $606,097 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $148,658 |
| Other salaries and wages | $833,996 |
| 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 | $1,233,497 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,600,569 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $31,894,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,694,487 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,214,621 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,527,076 |
| Prepaid expenses and deferred charges | $259,814 |
| Net Land, buildings, and equipment | $64,211,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,015,189 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $92,922,592 |
| Accounts payable and accrued expenses | $6,562,297 |
| Grants payable | $0 |
| Deferred revenue | $2,053,280 |
| 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 | $34,946,207 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,917,967 |
| Total liabilities | $46,479,751 |
| 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 | $46,442,841 |
| Total liabilities and net assets/fund balances | $92,922,592 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that San Miguel Power Association Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Telluride Foundation Telluride, CO PURPOSE: Project | $50,000 |
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 |