2018-11-14T11:05:49-06:00 2017-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2017-01-01 850081882 KIT CARSON ELECTRIC COOPERATIVE INC KITC 5757582258 PO BOX 578 TAOS NM 87571 JOHNNY VALERIO CFO 5757582258 2018-11-13 1 LAURIE HANSON P00851848 6053391999 2018-11-13 8.39.233.75 2018-11-13 15:25:24 CS P DB1FD6DC1D5D45D0B5FA61CC16A42C1A816EE75B 63CC26E97BB1FED79B38F32C11916C42E1B9DC98 2017 2019-02-21 02:37:17Z LUIS A REYES JR PO BOX 578 TAOS NM 87571 48189077 0 X WWW.KITCARSON.COM X 1944 NM TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 12 12 155 0 338212 0 0 0 43521386 47756836 64243 24918 -10173184 407323 33412445 48189077 0 0 0 0 7126260 7409373 0 0 0 37925746 42253006 45052006 49662379 -11639561 -1473302 187797856 180890496 158117376 153597947 29680480 27292549 TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE. 0 0 PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 28,769 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. PROVIDING INTERNET SERVICE TO OUR MEMBERS - 5,500 ACTIVE SERVICES AT YEAR END WERE PROVIDED INTERNET SERVICE ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. 0 0 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 70 0 1 155 1 1 1 0 0 0 0 47223673 714643 0 X 12 12 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 ROBERT ORTEGA SR PRESIDENT 7.90 X X 13500 0 0 CHRISTOBAL DURAN VICE PRESIDENT 22.10 X X 0 0 0 BRUCE JASSMAN TREASURER 7.00 X X 12375 0 0 MANUEL MEDINA SECRETARY 4.20 X X 5850 0 0 VIRGIL MARTINEZ TRUSTEE 5.60 X 1350 0 0 DAVID TORRES TRUSTEERUSTEE 6.30 X 12975 0 0 AMBROSE MASCARENAS TRUSTEE 8.70 X 11850 0 0 LUISA VALERIO MYLET TRUSTEE 3.10 X 6750 0 0 ARTHUR RODARTE TRUSTEE 9.80 X 11550 0 0 ROBERT BRESNAHAN TRUSTEE 6.00 X 9600 0 0 BILL NORRIS TRUSTEE 3.70 X 2475 0 0 BERNIE TORRES TRUSTEE 5.40 X 2700 0 0 LUIS A REYES JR CEO/GENERAL MANAGER 70.00 X 261365 0 45559 RICHARD MARTINEZ COO 50.00 X 108834 0 32861 JOHNNY VALERIO CFO 50.00 X 97812 0 28466 558986 0 106886 2 0 1 0 TCS COMMUNICATIONS PO BOX 864028 ORLANDO FL 32886 BROADBAND CONSTRUCTION 827842 ATLANTIC ENGINEERING PO BOX 790 BRASELTON GA 30517 BROADBAND CONSTRUCTION 680992 J&D CONTRACTORS PO BOX 2522 TAOS NM 87571 LINE CONSTRUCTION 607444 T & D SERVICES 9550 SAN MATEO NE SUITE G ALBUGUERQUE NM 87113 ENGINEERING SERVICES 501556 CUDDY & MCCARTHY PO BOX 4160 SANTA FE NM 87502 ATTORNEY(LEGAL SERVICE) 454160 12 SALE OF POWER 221000 42442250 42442250 INTERNET REVENUE 519100 4616612 4593529 23083 CAPITAL CREDITS 221000 428324 428324 OTHER OPERATING REVENUE 221000 269650 269650 47756836 24918 14587 10331 106781 0 106781 106781 106781 MANAGEMENT FEE 900009 300542 300542 300542 48189077 47733753 338212 117112 665872 5699811 579616 464074 4815783 9814601 COST OF POWER 18486208 DISTRIBUTION-OPERATIONS 3153273 ADMIN & GENERAL 3076144 DISTRIBUTION-MAINTENANC 1615902 1291095 49662379 2821019 1324224 8616031 8246877 1460283 1431168 39769099 33807611 155876388 59747261 96464181 96129127 176063 278996 2420145 2554863 36071035 37117630 187797856 180890496 6148492 5416467 19254 17410 108133308 105583260 7935069 12299670 35881253 30281140 158117376 153597947 X 0 0 0 0 29680480 27292549 29680480 27292549 187797856 180890496 X -1473302 -800107 -114522 X 0 1 X 1 0 0 1 X 990709 990709 10484590 10484590 143017854 59747261 83270593 1383235 1383235 96129127 NON-UTILITY PROPERTY, NET 37117630 37117630 CUSTOMER DEPOSITS 449539 DEFERRED CREDITS 29831601 30281140 X 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 IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE ON ANY INCOME RELATED TO ITS EXEMPT PURPOSE. THE COOPERATIVE INCURS UNRELATED BUSINESS TAXABLE INCOME UNDER THE CODE ON CERTAIN REVENUE STREAMS AND HAS AN INCOME TAX BENEFIT OF APPROXIMATELY $1,360,000 AND $1,990,000 WHICH IS FULLY ALLOWED FOR AS OF DECEMBER 31, 2017 AND 2016, RESPECTIVELY. 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. X X X X 0 0 0 LUIS A REYES JR CEO/GENERAL MANAGER 261365 0 0 0 0 0 31429 0 14130 0 306924 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 -117,341. OTHER CHANGE IN EQUITY 2,819. 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 ENERGY INC PO BOX 578 TAOS NM 87571 271603074 PROPANE SALES NM KIT CARSON ELECTRIC COOPERATIVE INC C 1689961 2237458 1.00000 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 KIT CARSON ENERGY INC O 300542 FAIR VALUE KIT CARSON ENERGY INC Q 315129 FAIR VALUE