K C Electric Association
- Assets
- $64.8m
- Revenue
- $27.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Hugo, CO
- Founding
- 07/1955
- Data as of
- 12/2023
- 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 12/2023, K C Electric Association employed 27 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 12/2023, K C Electric Association generated $27.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $27.8m during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 9 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
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 221,375,582 KWHS TO OUR 6,619 METERS ORVER 3,052 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 Manager | Officer | 40 | $275,087 |
George Unruh Foreman | 40 | $129,036 | |
Bo Randolph CFO | Officer | 40 | $144,610 |
Christopher Notter Meter Technician | 40 | $119,687 | |
Jason Scheler Lineman | 40 | $118,892 | |
Kevin Penny President | Trustee | 7 | $14,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western United Supply Corp Material Supplier | 12/30/23 | $917,652 |
National Information Solutions Coop Software | 12/30/23 | $157,430 |
Colorado Rural Electric Association Statewide Safety | 12/30/23 | $139,941 |
Asplundh Tree Expert Company Tree Trimming | 12/30/23 | $108,525 |
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 | $27,323,201 |
| Investment income | $485,492 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,026 |
| Net Gain/Loss on Asset Sales | $7,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,822,101 |
| 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 | $2,836,103 |
| Compensation of current officers, directors, key employees. | $697,134 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $504,260 |
| 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 | $360,303 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,621,449 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $27,822,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,644,919 |
| Savings and temporary cash investments | $7,292,460 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,685,881 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $784,427 |
| Prepaid expenses and deferred charges | $453,968 |
| Net Land, buildings, and equipment | $30,245,236 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,668,053 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $64,774,944 |
| Accounts payable and accrued expenses | $1,780,085 |
| Grants payable | $0 |
| Deferred revenue | $3,320,589 |
| 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 | $14,881,259 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,981,933 |
| 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 | $4,265,881 |
| Retained earnings, endowment, accumulated income, or other funds | $40,527,130 |
| Total liabilities and net assets/fund balances | $64,774,944 |