K C Electric Association
- Assets
- $58.7m
- Revenue
- $27.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Hugo, CO
- Founding
- 07/1955
- Data as of
- 12/2021
- EIN
- 84-0390042
Organization Overview
K C Electric Association is located in Hugo, CO. The organization was established in 1955. 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, K C Electric Association employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. K C 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 12/2021, K C Electric Association generated $27.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $28.1m during the year ending 12/2021. While expenses have increased by 3.1% 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
TO PROVIDE RELIABLE ELECTRIC POWER AND RELATED SERVICES TO OUR MEMBERS AT THE MOST AFFORDABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KCEA SOLD 222,429,572 KWH'S TO OUR 6,602 METERS ORVER 3,055 MILES OF LINE IN 3 COUNTIES (CHEYENNE, KIT CARSON AND LINCOLN) OF EASTERN COLORADO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Churchwell General Mana | Officer | 40 | $245,144 |
Paul Norris Operations M | 40 | $152,279 | |
Bo Randolph CFO | Officer | 40 | $122,943 |
George Unruh Foreman Line | 40 | $118,548 | |
Christopher Notter Foreman Line | 40 | $109,817 | |
Kevin Penny President | Trustee | 7 | $14,850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western United Supply Corp Material Suppli | 12/30/21 | $511,970 |
Federated Rural Electric Insurance Insurance | 12/30/21 | $144,147 |
National Information Solutions Coop Software | 12/30/21 | $130,667 |
Equipment Technology Inc Fleet | 12/30/21 | $123,923 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $641,550 |
| 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 | $641,550 |
| Total Program Service Revenue | $26,387,622 |
| Investment income | $44,317 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,293 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,088,421 |
| 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 | $3,106,429 |
| Compensation of current officers, directors, key employees. | $711,594 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $635,576 |
| 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 | $299,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,674,639 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $28,088,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,628,189 |
| Savings and temporary cash investments | $1,829,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,583,083 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $630,149 |
| Prepaid expenses and deferred charges | $1,111,240 |
| Net Land, buildings, and equipment | $28,902,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,983,110 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $58,667,697 |
| Accounts payable and accrued expenses | $1,688,427 |
| Grants payable | $0 |
| Deferred revenue | $2,817,028 |
| 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 | $12,302,127 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,807,582 |
| 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 | $3,871,184 |
| Retained earnings, endowment, accumulated income, or other funds | $37,988,931 |
| Total liabilities and net assets/fund balances | $58,667,697 |
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 |