2023-11-13T09:17:26-06:00 2022-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2022-01-01 850081882 KIT CARSON ELECTRIC COOPERATIVE INC KITC 5757582258 PO BOX 578 TAOS NM 87571 LUIS REYES CEO 5757582258 2023-11-09 1 LUIS REYES 999009999 1 LAURIE HANSON CPA P00851848 6053391999 2023-11-09 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z LUIS A REYES JR PO BOX 578 TAOS NM 87571 57387729 0 X WWW.KITCARSON.COM X 1944 NM TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 11 11 132 0 377562 0 1290900 1206805 58870097 55739820 114 146624 470783 294480 60631894 57387729 0 0 3406677 5474949 6654157 7059949 0 0 0 48621296 44423225 58682130 56958123 1949764 429606 152640645 154898345 116033792 112495101 36606853 42403244 TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 30,284 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. PROVIDING INTERNET SERVICES TO OUR MEMBERS - 11,823 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 73 0 1 132 1 1 1 0 0 0 0 55307016 1058547 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 9750 0 0 BOBBY ORTEGA PRESIDENT 7.00 X X 16350 0 0 DAVID TORRES TRUSTEE 3.00 X 14100 0 0 ARTHUR RODARTE TRUSTEE 3.00 X 13800 0 0 RUSS A COYLE TRUSTEE 3.00 X 11700 0 0 MICHAEL H ROMERO TRUSTEE (UNTIL JUNE) 3.00 X 4500 0 0 MANUEL MEDINA SECRETARY 5.00 X X 8850 0 0 ROBERT BRESNAHAN TRUSTEE (UNTIL JUNE) 3.00 X 2250 0 0 LUISA VALERIO MYLET TRUSTEE 2.00 X 7950 0 0 BERNIE TORRES TRUSTEE 2.00 X 4050 0 0 CHRISTOBAL DURAN VICE PRESIDENT 7.00 X X 0 0 0 LUIS A REYES JR CEO 70.00 X 314940 0 51712 JOHN SHAFTO CFO 50.00 X 181048 0 45259 MARTIN DIMAS TRUSTEE (BEG JUNE) 2.00 X 4500 0 0 SYLVIA VIGIL TRUSTEE (BEG JUNE) 2.00 X 5000 0 0 RICHARD MARTINEZ COO 60.00 X 181354 0 48362 CARMELLA SUAZO ASSISTANT MANAGER 43.00 X 143120 0 35683 MATTHEW SUAZO LINEMAN 51.00 X 118707 0 36525 FIDEL LOPEZ LINEMAN 52.00 X 121589 0 20963 CARLOS RIVERA LINEMAN 51.00 X 118960 0 18306 JUSTIN VARELA LINEMAN 53.00 X 114009 0 17487 1396527 0 274297 15 0 1 0 TRIPLE R EXCAVATION 102 ROMAN CT TAOS NM 87571 FIBER LABOR 759138 J & D ELECTRICAL CONTRACTORS PO BOX 2522 TAOS NM 87571 FIBER LABOR 643545 T & D SERVICES 9550 SAN MATEO NE SUITE G ALBUGUERQUE NM 87113 ENGINEERING 606541 CROSSROAD CONNECTIONS 4 SAN FRANCISCO RD 445 RANCHOS DE TAOS NM 87557 FIBER LABOR 402797 T&D CONTRACTORS 9550 SAN MATEO BLVD NE STE G ALBUQUERQUE NM 87113 CONSTRUCTION 294709 8 1206805 1206805 SALE OF POWER 221000 45226758 45226758 TELECOM AND INTERNET REVENUE 221000 9861055 9746272 114783 CAPITAL CREDITS 221000 390087 390087 OTHER OPERATING REVENUE 221000 261920 261920 55739820 83265 82779 486 114480 0 114480 114480 114480 63359 0 63359 63359 63359 MANAGEMENT FEE 517000 180000 180000 180000 57387729 55625037 377562 178325 5474949 925475 5163667 536410 434397 2913132 8322615 COST OF POWER 22224263 ADMIN & GENERAL 3843685 DISTRIBUTION-OPERATIONS 2593242 ALLOCATED & OTHER 2569716 1956572 56958123 2133281 704751 10629306 14448865 4077 4077 2122956 3319060 8507833 5865799 162927117 73756096 90008643 89171021 896342 751379 2992500 3141847 35345707 37491546 152640645 154898345 10010324 9703770 41269 44854 10913 10114 102201248 99921302 2067558 3770038 747503 116033792 112495101 X 0 0 0 0 36606853 42403244 36606853 42403244 152640645 154898345 X 429606 5366785 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 990709 990709 10528140 2636466 7891674 150802812 71119630 79683182 605456 605456 89171021 NON-UTILITY PROPERTY, NET 35529584 RIGHT OF USE OF ASSET 1961962 37491546 CUSTOMER DEPOSITS 674703 DEFERRED CREDITS 1368761 INTERCOMPANY PAYABLE -3441098 FINANCE LEASE LIABILITIES AND OPERATING LEASE LIABILITIES 2145137 747503 X 57387729 0 57387729 0 57387729 51483174 0 51483174 5474949 5474949 56958123 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 2023 FOR 2022 5,474,949. X X X X X 0 0 0 LUIS A REYES JR CEO 314940 0 0 0 0 0 32122 0 19590 0 366652 0 0 0 RICHARD MARTINEZ COO 181354 0 0 0 0 0 23800 0 24562 0 229716 0 0 0 JOHN SHAFTO CFO 181048 0 0 0 0 0 25669 0 19590 0 226307 0 0 0 CARMELLA SUAZO ASSISTANT MANAGER 143120 0 0 0 0 0 18760 0 16923 0 178803 0 0 0 MATTHEW SUAZO LINEMAN 118707 0 0 0 0 0 11963 0 24562 0 155232 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 -108,164. PATRONAGE ALLOCATED IN 2023 FOR 2022 5,474,949. 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 1807866 2091052 1.00000 1 TAOS MESA ENERGY FACILITY LLC PO BOX 578 TAOS NM 87571 862366159 SOLAR ARRAY NM KIT CARSON ELECTRIC COOPERATIVE INC C 1197635 44592050 1.00000 1 ANGEL FIRE ENERGY FACILITY LLC PO BOX 578 TAOS NM 87571 862379669 SOLAR ARRAY NM KIT CARSON ELECTRIC COOPERATIVE INC C 13947846 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 82779 FAIR VALUE KIT CARSON PROPANE INC A 487 FAIR VALUE