2024-11-15T09:24:20-06:00 2023-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2023-01-01 850081882 KIT CARSON ELECTRIC COOPERATIVE INC KITC 5757582258 PO BOX 578 TAOS NM 87571 LUIS REYES CEO 5757582258 2024-11-14 1 1 LAURIE HANSON CPA P00851848 6053391999 2024-11-14 2023 2024-10-15 13:58:12Z LUIS A REYES JR PO BOX 578 TAOS NM 87571 59264641 0 X WWW.KITCARSON.COM X 1944 NM TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 11 11 109 0 659927 0 1206805 2021770 55739820 56436725 146624 160360 294480 645786 57387729 59264641 0 0 5474949 6015004 7059949 7595643 0 0 0 44423225 45471681 56958123 59082328 429606 182313 154898345 162006076 112495101 113507645 42403244 48498431 TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 30,420 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. PROVIDING INTERNET SERVICES TO OUR MEMBERS - 13,261 ACTIVE SERVICES AT YEAR END WERE PROVIDED INTERNET SERVICE ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 1 0 0 0 0 0 1 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 68 0 1 109 1 1 1 0 0 0 0 55560967 1915871 0 0 0 X 11 11 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 1 1 0 0 X LUIS A REYES JR 5757582258 118 CRUZ ALTA ROAD TAOS NM 875710578 BRUCE JASSMAN TREASURER 7.00 X X 10350 0 0 BOBBY ORTEGA PRESIDENT 7.00 X X 19350 0 0 DAVID TORRES TRUSTEE 3.00 X 14850 0 0 ARTHUR RODARTE TRUSTEE 3.00 X 15300 0 0 RUSS A COYLE TRUSTEE 3.00 X 12000 0 0 MANUEL MEDINA SECRETARY 5.00 X X 9750 0 0 LUISA VALERIO MYLET TRUSTEE 3.00 X 9900 0 0 BERNIE TORRES TRUSTEE 3.00 X 8100 0 0 CHRISTOBAL DURAN VICE PRESIDENT 7.00 X X 0 0 0 MARTIN DIMAS TRUSTEE 3.00 X 6300 0 0 SYLVIA VIGIL TRUSTEE 3.00 X 7722 0 0 LUIS A REYES JR CEO 70.00 X 370347 0 78957 JOHN SHAFTO CFO 50.00 X 182085 0 45999 RICHARD MARTINEZ COO 60.00 X 182085 0 51718 CARMELLA SUAZO ASSISTANT MANAGER 50.00 X 150882 0 71881 MATTHEW SUAZO LEAD LINEMAN 49.00 X 115020 0 38642 FIDEL LOPEZ LEAD LINEMAN 47.00 X 116783 0 30599 CARLOS RIVERA LEAD LINEMAN 47.00 X 113141 0 17575 JOSE LOVATO LEAD LINEMAN 50.00 X 124089 0 31906 1468054 0 367277 14 0 1 0 CROSSROAD CONNECTIONS 4 SAN FRANCISCO RD 445 RANCHOS DE TAOS NM 87557 FIBER LABOR 902365 TRIPLE R EXCAVATION 102 ROMAN CT TAOS NM 87571 FIBER LABOR 739673 T & D SERVICES 9550 SAN MATEO NE SUITE G ALBUGUERQUE NM 87113 ENGINEERING 738888 ALTITUDE ENERGY LLC 26400 I-76 FRONTAGE ROAD KEENESBURG CO 80643 CONSTRUCTION 473737 J & D ELECTRICAL CONTRACTORS PO BOX 2522 TAOS NM 87571 FIBER LABOR 457851 13 2021770 2021770 SALE OF POWER 221000 43807703 43807703 TELECOM AND INTERNET REVENUE 221000 11583927 11453029 130898 OTHER OPERATING REVENUE 221000 603301 603301 CAPITAL CREDITS 221000 441794 441794 56436725 160360 118459 41901 235216 0 235216 235216 235216 MANAGEMENT FEE 517000 410570 410570 410570 59264641 56305827 659927 277117 6015004 1024812 5573094 528030 469707 3073666 5244208 COST OF POWER 25075750 ADMIN & GENERAL 4515970 ALLOCATED & OTHER 2810088 DISTRIBUTION-OPERATIONS 2578911 2173088 59082328 704751 1294521 14448865 18798986 4077 5231 3319060 3094132 5865799 5816284 167182978 77447044 89171021 89735934 751379 1470335 3141847 3208115 37491546 38582538 154898345 162006076 9703770 6844970 44854 48926 10114 8407 99921302 99900893 2067558 2475873 747503 4228576 112495101 113507645 X 0 0 0 0 42403244 48498431 42403244 48498431 154898345 162006076 X 182313 5912874 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 990709 990709 10534449 2836847 7697602 153936504 74610197 79326307 1721316 1721316 89735934 NON-UTILITY PROPERTY, NET 35923896 RIGHT OF USE OF ASSET 2658642 38582538 CUSTOMER DEPOSITS 211607 DEFERRED CREDITS 1130593 FINANCE LEASE LIABILITIES AND OPERATING LEASE LIABILITIES 2886376 4228576 X 59264641 0 59264641 0 59264641 53067324 0 53067324 6015004 6015004 59082328 PART IV, LINE 2B: OPERATION ROUND UP PROGRAM PROVIDES MEMBERS WITH THE ABILITY TO DONATE MONEY THROUGH THE COOPERATIVE TO HELP NEEDY MEMBERS PAY THEIR ELECTRIC BILLS. THE ACCOUNT IS LISTED ON THE BALANCE SHEET AS A LIABILITY. PART X, LINE 2: THE COOPERATIVE BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE ALLOCATED IN 2024 FOR 2023 6,015,004. X X X X X 0 0 0 LUIS A REYES JR CEO 369847 0 500 0 0 0 45000 0 33957 0 449304 0 0 0 RICHARD MARTINEZ COO 181585 0 500 0 0 0 25002 0 26715 0 233802 0 0 0 JOHN SHAFTO CFO 181585 0 500 0 0 0 21967 0 24031 0 228083 0 0 0 CARMELLA SUAZO ASSISTANT MANAGER 150382 0 500 0 0 0 48619 0 24082 0 223583 0 0 0 JOSE LOVATO LEAD LINEMAN 123589 0 500 0 0 0 10271 0 21634 0 155994 0 0 0 MATTHEW SUAZO LEAD LINEMAN 114520 0 500 0 0 0 8940 0 31362 0 155322 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONE CLASS OF MEMBERS. A MEMBER MAY HAVE MULTIPLE ACCOUNTS BUT ONLY ONE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE COOPERATIVE VOTE IN THE ELECTION OF THE BOARD OF DIRECTORS. EACH MEMBER HAS ONE VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE; 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION; 3. THE DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE ASSETS; 4. BY-LAW CHANGES; 5. EXPULSION OF MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO NOT HAVE BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT PRESENTS A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COOPERATIVE'S CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD OF DIRECTORS AS SOON AS POSSIBLE. THE CONFLICT OF INTEREST POLICY IS REVIEWED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS AS A WHOLE CONDUCTS A PERFORMANCE EVALUATION OF THE CEO ANNNUALLY. THIS IS USED AS THE BASIS FOR COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE WILL PROVIDE A COMPLETE COPY OF THE AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, OR GOVERNING DOCUMENTS TO ANY MEMBER WHO REQUESTS A COPY. FORM 990, PART XI, LINE 9: PATRONAGE CAPITAL RETIREMENTS -101,586. PATRONAGE ALLOCATED IN 2024 FOR 2023 6,015,004. OTHER ADJUSTMENT -544. KIT CARSON ELECTRIC EDUCATION FOUNDATION PO BOX 578 TAOS NM 87571 311578049 CHARITABLE NM 501(C)(3) PF KIT CARSON ELECTRIC COOPERATIVE INC 1 KIT CARSON PROPANE INC PO BOX 578 TAOS NM 87571 271603074 PROPANE SALES NM KIT CARSON ELECTRIC COOPERATIVE INC C 4070684 2217304 1.00000 1 TAOS MESA ENERGY FACILITY LLC PO BOX 578 TAOS NM 87571 862366159 SOLAR ARRAY NM KIT CARSON ELECTRIC COOPERATIVE INC C 5254729 42202901 1.00000 1 ANGEL FIRE ENERGY FACILITY LLC PO BOX 578 TAOS NM 87571 862379669 SOLAR ARRAY NM KIT CARSON ELECTRIC COOPERATIVE INC C 1115434 14869035 1.00000 1 1 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 KIT CARSON PROPANE INC L 410570 FAIR VALUE KIT CARSON PROPANE INC A 118459 FAIR VALUE