KIT CARSON ELECTRIC COOPERATIVE INC (EIN 850081882) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1944

Legal Domicile

Principal Officer

LUIS A REYES JR

Phone

5757582258

Tax Period

2024-01-01 to 2024-12-31

KIT CARSON ELECTRIC COOPERATIVE INC, founded in 1944, is a mid-sized nonprofit that reported $61.7M in total revenue in fiscal year 2024.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,810,208

Program Service Revenue $59,450,767

Investment Income $76,184

Other Revenue $327,858

TOTAL REVENUE $61,665,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,581,988

Fundraising Expenses $0

Other Expenses $46,974,889

TOTAL EXPENSES $62,505,878

Year-over-Year Comparison

	2024	2023	Change
Revenue	$61,665,017	$59,264,641	+0.0%
Expenses	$62,505,878	$59,082,328	+0.1%
Net Income	$-840,861	$182,313	-5.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

114

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$817,172

Total Directors

$210,012

Key Employees

$263,314

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE JASSMAN	TREASURER	7.00	Officer Director	$20,500	$0	$20,500
ROBERT ORTEGA SR	PRESIDENT	7.00	Officer Director	$29,450	$0	$29,450
DAVID TORRES	TRUSTEE	3.00	Director	$25,250	$0	$25,250
ARTHUR RODARTE	TRUSTEE	3.00	Director	$26,600	$0	$26,600
RUSS A COYLE	TRUSTEE	3.00	Director	$22,700	$0	$22,700
MANUEL MEDINA	SECRETARY	5.00	Officer Director	$19,700	$0	$19,700
LUISA VALERIO MYLET	TRUSTEE	3.00	Director	$22,623	$0	$22,623
BERNIE TORRES	TRUSTEE	3.00	Director	$18,050	$0	$18,050
CHRISTOBAL DURAN	VICE PRESIDENT	7.00	Officer Director	$0	$0	$0
MARTIN DIMAS	TRUSTEE	3.00	Director	$11,800	$0	$11,800
SYLVIA VIGIL	TRUSTEE	3.00	Director	$13,339	$0	$13,339
LUIS A REYES JR	CEO	66.00	Officer	$448,019	$58,030	$506,049
JOHN SHAFTO	CFO	47.00	Officer	$196,861	$44,612	$241,473
RICHARD MARTINEZ	COO	57.00	Key Emp	$210,129	$53,185	$263,314
CARMELLA SUAZO	ASSISTANT MANAGER	48.00	Highest	$160,079	$39,728	$199,807
MATTHEW SUAZO	LEAD LINEMAN	47.00	Highest	$120,303	$36,127	$156,430
AUSTIN MARTINEZ	LEAD LINEMAN	49.00	Highest	$144,918	$34,565	$179,483
CARLOS RIVERA	LEAD LINEMAN	47.00	Highest	$125,661	$18,041	$143,702
JOSE LOVATO	INTERNET MANAGER	50.00	Highest	$131,005	$37,579	$168,584

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$61,665,017	$62,505,878	$166,275,215	$-840,861
2023	$59,264,641	$59,082,328	$162,006,076	$182,313
2022	$57,387,729	$56,958,123	$154,898,345	$429,606
2021	$60,631,894	$58,682,130	$152,640,645	$1,949,764
2020	$55,036,472	$54,437,785	$158,315,864	$598,687
2019	$54,382,608	$53,955,227	$166,848,299	$427,381
2018	$51,104,032	$50,825,773	$173,334,770	$278,259

KIT CARSON ELECTRIC COOPERATIVE INC