United Power Inc
- Assets
- $596.3m
- Revenue
- $312.2m
- Investments
- $0.0
- Employees
- 197
- Location
- Brighton, CO
- Founding
- 06/1939
- Data as of
- 12/2021
- EIN
- 84-0340655
Organization Overview
United Power Inc is located in Brighton, 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, United Power Inc employed 197 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Power 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, United Power Inc generated $312.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $311.6m during the year ending 12/2021. While expenses have increased by 5.3% 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
THE COOPERATIVE PROVIDES ELECTRIC SERVICES TO APPROXIMATELY 102,000 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Robbins Chief Operating Officer | Officer | 40 | $385,326 |
Mark Gabriel President And Chief Executive Officer | Officer | 40 | $328,663 |
Laura Burkhart Chief Financial Officer | Officer | 40 | $274,253 |
Dean Hubbuck Chief Energy Resource Offi | Officer | 40 | $225,197 |
Troy Whitmore Gov. Regulatory Relations | Officer | 40 | $205,663 |
Robert Maxwell Engineering Director | 40 | $170,158 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ward Electric Company Inc Line Construction | 12/30/21 | $29,745,217 |
Leidos Engineering Llc Meter Data Management | 12/30/21 | $2,306,508 |
Reliable Power Consultants Inc Design Services | 12/30/21 | $1,297,818 |
Traffic Management Inc Traffic Control | 12/30/21 | $1,865,744 |
One Call Locators Ltd Locator | 12/30/21 | $1,439,053 |
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 | $311,534,007 |
| Investment income | $184,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $477,558 |
| 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 | $312,195,991 |
| 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 | $18,236,365 |
| Compensation of current officers, directors, key employees. | $2,111,304 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $115,220 |
| 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 | $10,576,316 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,317,068 |
| Insurance | $0 |
| All other expenses | $14,713,745 |
| Total functional expenses | $311,609,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,869,156 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,400,126 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,113,567 |
| Prepaid expenses and deferred charges | $26,235,641 |
| Net Land, buildings, and equipment | $360,275,363 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $147,101,490 |
| Intangible assets | $13,215,899 |
| Other assets | $25,086,138 |
| Total assets | $596,297,380 |
| Accounts payable and accrued expenses | $39,250,037 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $274,426,810 |
| Unsecured mortgages and notes payable | $38,700,000 |
| Other liabilities | $7,201,230 |
| Total liabilities | $359,578,077 |
| 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 | $236,719,303 |
| Total liabilities and net assets/fund balances | $596,297,380 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Intermountain Rural Electric Association Sedalia, CO | $1,228,049,117 | $331,307,918 |
United Power Inc Brighton, CO | $596,297,380 | $312,195,991 |
Midwest Energy Inc Hays, KS | $627,319,066 | $242,109,196 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
Powder River Energy Corporation Sundance, WY | $476,284,680 | $160,024,088 |
Kansas Electric Power Cooperative Inc Topeka, KS | $324,892,215 | $155,298,946 |
Holy Cross Electric Assoc Inc Glenwood Springs, CO | $346,769,060 | $143,962,151 |
Poudre Valley Rural Electric Association Inc Fort Collins, CO | $294,330,752 | $138,618,060 |
Mountain View Electric Assoc Inc Limon, CO | $390,883,600 | $130,263,584 |
Wheatland Electric Cooperative Inc Scott City, KS | $396,291,837 | $135,504,562 |
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 |