2024-05-01T13:57:17-05:00 2023-12-31 631035228 Jackson Thornton & Co PC PO Box 96 Montgomery AL 361010096 990 2023-01-01 840340655 United Power Inc UNIT 3036590551 500 Cooperative Way Brighton CO 80603 Laurie Burkhart Chief Financial Officer 3036590551 2024-04-29 1 Laurie Burkhart 999009999 1 Patrick Cooper P00856177 3348347660 2024-04-29 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z Mark Gabriel 500 Cooperative Way Brighton CO 80603 342490393 0 X www.unitedpower.com X 1938 CO To provide reliable electric power and related services to our members at the most affordable cost. 11 11 216 0 0 0 0 0 319452970 341732947 324701 276511 507442 480935 320285113 342490393 0 0 12283816 14912531 2309393 2620156 0 0 0 304451754 324484231 319044963 342016918 1240150 473475 649423331 712520880 403158665 454591045 246264666 257929835 To provide reliable electric power and related services to our members at the most affordable cost. 0 0 342016918 The Cooperative provides electric services to approximately 110,500 members. 342016918 0 0 0 0 0 0 0 0 0 1 0 1 0 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 0 0 1 236 0 1 216 1 0 0 0 0 0 0 0 374034065 4244948 0 0 0 X 11 11 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X United Power Inc 3036590551 500 Cooperative Way Brighton CO 80603 Elizabeth Martin Chairman 25.00 X X 37992 0 0 Tamra Waltemath Secretary 13.00 X X 30492 0 0 Brian McCormick Director 18.00 X 30492 0 0 Dave Rose Director 1.00 X 2541 0 0 James Vigesaa Vice Chairman 9.00 X X 30492 0 0 Keith Alquist Treasurer 13.00 X X 30492 0 0 Virginia Buczek Director/CREA Director 22.00 X 35492 0 0 Ursula Morgan Director 19.00 X 30492 0 0 Tim Erickson Director 9.00 X 30492 0 0 Stephen Whiteside Assistant Secretary/Treasu 11.00 X X 30492 0 0 Brad Case Director 13.00 X 30492 0 0 Steven Douglas Director 14.00 X 22869 0 0 Dean Hubbuck SVP & Chief Energy Resourc 40.00 X 265782 0 108743 Laura Burkhart EVP & Chief Financial Offi 40.00 X 345702 0 121863 Russell Robbins EVP & Chief Operating Offi 40.00 X 362547 0 112255 Mark Gabriel President and Chief Execut 40.00 X 560146 0 93544 Trista Fugate Senior VP and Chief Market 40.00 X 246312 0 60432 Erin Hane VP of HR, Safety, Facilities 40.00 X 194072 0 91105 Alice Beauchamp SVP & Chief Information Of 40.00 X 217058 0 87547 Robert Maxwell VP of Engineering 40.00 X 209032 0 91429 Troy Whitmore VP & Public Affairs Office 40.00 X 223889 0 84367 Joshua Steinke Substation Technician 40.00 X 205383 0 67505 3172753 0 918790 87 1 1 0 Ward Electric Company Inc 9586 E I25 Frontage Rd Longmont CO 80504 Line Construction 31581792 Wheeler Trigg O'Donnell LLP 370 17st Street STE 4500 Denver CO 80202 Law Firm 4082879 Paul Hastings LLP PO Box 894803 Los Angeles CA 90189 Law Firm 2908437 Leidos Engineering LLC PO Box 223058 Pittsburgh PA 15251 Managed Services 2589108 Traffic Management Inc Dept LA 24606 Pasadena CA 91185 Traffic Control 2511467 5 Electricity Sales 221000 333860711 333860711 Capital Credits 221000 6098439 6098439 Other Operating Rev 221000 1773797 1773797 341732947 276511 276511 480935 0 480935 480935 480935 342490393 341732947 0 757446 X 14912531 2620156 164367 13583733 16514708 Purchased Power 242588937 Administrative and Gene 12125210 Distrib. Exp. - Operati 11134016 Distrib. Exp. - Mainten 9612488 18760772 342016918 3379790 3901210 8181602 10261837 12277293 14881176 38507562 47217011 572823070 129451800 397424257 443371270 149084196 152049290 13215899 13215899 27352732 27623187 649423331 712520880 48924613 41929508 330300007 344534790 16100000 59000000 7834045 9126747 403158665 454591045 X 0 0 0 0 246264666 257929835 246264666 257929835 649423331 712520880 X 473475 11191694 X 0 1 X 1 0 16434864 16434864 39807829 9288954 30518875 40501855 14143421 26358434 476078522 106019425 370059097 443371270 Tri-State G&T 125561024 C NRUCFC 7096638 C Western United Electric Supply 13601165 C Other Investments 5790463 C 152049290 Customer Deposits 2426046 Deferred Credits 6700701 9126747 Part X - Fin 48 Footnote The Company has adopted ASC Topic 740-10, Income Taxes, that requires the Company to evaluate its income tax positions to determine if they have any positions that would require any adjustments to the financial statements. The Company's policy is to include interest and penalties related to unrecognized tax benefits/liabilities in income tax expense. The Company has determined that they have no uncertain income tax positions that need to be recorded or reported in the financial statements as of December 31, 2023 and 2022. The Company's tax returns are subject to possible examination by taxing authorities. With few exceptions, the tax returns remain essentially open for possible examination for a period of three years after the respective filing deadlines of those returns. X X 0 0 0 Mark Gabriel President and Chief Execut 470396 0 89750 0 0 0 91278 0 2266 0 653690 0 0 0 Russell Robbins EVP & Chief Operating Offi 342047 0 20500 0 0 0 85437 0 26818 0 474802 0 0 0 Laura Burkhart EVP & Chief Financial Offi 300202 0 45500 0 0 0 85437 0 36426 0 467565 0 0 0 Dean Hubbuck SVP & Chief Energy Resourc 220282 0 45500 0 0 0 72306 0 36437 0 374525 0 0 0 Troy Whitmore VP & Public Affairs Office 223389 0 500 0 0 0 57658 0 26709 0 308256 0 0 0 Trista Fugate Senior VP and Chief Market 225812 0 20500 0 0 0 59246 0 1186 0 306744 0 0 0 Alice Beauchamp SVP & Chief Information Of 206558 0 10500 0 0 0 60805 0 26742 0 304605 0 0 0 Robert Maxwell VP of Engineering 204532 0 4500 0 0 0 55139 0 36290 0 300461 0 0 0 Erin Hane VP of HR, Safety, Facilities 178572 0 15500 0 0 0 54819 0 36286 0 285177 0 0 0 Joshua Steinke Substation Technician 204883 0 500 0 0 0 31531 0 35974 0 272888 0 0 0 Form 990, Part VI, Section A, line 6 Members are businesses and individuals which received electric service from the cooperative. Form 990, Part VI, Section A, line 7a Candidates for the Board are nominated by petition. The service area is broken into several Board Representation Areas and each area has multiple Board seats. The candidate must live in the Board area they run for. While candidates represent geographic regions, they are elected by the membership at-large. The highest vote getter for each seat is declared the winner. Board members serve three year terms. Form 990, Part VI, Section B, line 11b The draft Form 990 is provided to the Board. They are given time to review it and provide comments. The Form 990 would then be revised as necessary prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The Board has a conflict of interest policy that applies strictly to them. New Board members are required to sign the policy and the Board self-polices the policy. A separate conflict of interest policy applies to employees. All members of senior management are required to sign the policy. Form 990, Part VI, Section B, line 15 The Board uses a compensation study information from NRECA, Pay Factors and Employers Council to review and determine the appropriate compensation level of the CEO. Other officers and key employees are evaluated compared to data from the same sources. The data is reviewed as part of the annual budgeting process. Form 990, Part VI, Section C, line 19 United Power provides financial statements to the members as part of the annual report. Bylaws and annual reports are available on the Company's website. Articles of incorporation, bylaws, annual reports and the conflict of interest policy can be obtained at the Company's headquarters. Form 990, Parti IX, Line 4 The instructions to the 2023 Form 990 indicate that organizations exempt under Section 501(c)(12) should report "patronage dividends paid" to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words "patronage dividends paid" in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the operating margins and certain non-operating margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar years ended December 31, 2023 and 2022. Form 990, Part XI, line 9: Gain of retirement of capital credits 184,105. Operating margins and certain non-operating margins to be allocated 14,912,531. Patronage capital retired -4,907,146. Transfer of unclaimed capital credit checks 1,002,204. United Power Round Up Foundation 500 Cooperative Way Brighton CO 80603 841276017 Provide support to indiv. and charities CO 501 (c) (3) Line 7 United Power Inc 0 Consumer Service Association 500 Cooperative Way Brighton CO 80603 841095810 Telecommunications CO United Power Inc C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0