SAN MIGUEL ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- SAN MIGUEL ELECTRIC COOPERATIVE INC (EIN 74-1937134)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-07-30
- IRS object ID
- 202422259349302187
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-07-30T08:04:00-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 741937134 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SAN MIGUEL ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SANM | BusinessNameControlTxt |
| Phone | 8307843411 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 280 | AddressLine1Txt |
| City | Jourdanton | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78026 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Craig Courter | PersonNm |
| Person Title | General Manager | PersonTitleTxt |
| Phone | 8307843411 | PhoneNum |
| Signature | 2024-05-20 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Craig Courter | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 280 | AddressLine1Txt |
| City | Jourdanton | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78026 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $184,952,276 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | http://www.smeci.net/ | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1977 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | San Miguel was created for the sole purpose of owning and operating a 400 MW mine-mouth lignite-fired generating plant and associated mining facilities to furnish power and energy to its member cooperatives. | ActivityOrMissionDesc |
| Voting Members Governing Body | 19 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 180 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $179,295,050 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $175,872,850 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,014,499 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,072,762 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,015,464 | PYOtherRevenueAmt |
| CY Other Revenue | $3,006,664 | CYOtherRevenueAmt |
| PY Total Revenue | $188,325,013 | PYTotalRevenueAmt |
| CY Total Revenue | $184,952,276 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $2,338,144 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,434,619 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $20,913,387 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,435,192 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $165,073,482 | PYOtherExpensesAmt |
| CY Other Expenses | $161,082,465 | CYOtherExpensesAmt |
| PY Total Expenses | $188,325,013 | PYTotalExpensesAmt |
| CY Total Expenses | $184,952,276 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $558,755,810 | TotalAssetsBOYAmt |
| Total Assets EOY | $539,268,827 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $443,777,203 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $420,990,619 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $114,978,607 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $118,278,208 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Provide safe, reliable and affordable power to our members through diligent resource management, environmental stewardship, and employee growth, while helping to meet needs within the communities we serve. Maintain a dependable power supply at the lowest possible and competitive cost to our customers through integrity, hard work, and safety. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | San Miguel Electric Cooperative, Inc. was created for the sole purpose of owning and operating a 400 Megawatt mine-mouth lignite-fired generating plant and associated mining facility to furnish power and energy to its members on a cooperative basis. | Desc |
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 97 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 180 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $174,658,036 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $10,294,240 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 19 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Tiffany Mora | PersonNm |
| Phone | 8307843411 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 280 | AddressLine1Txt |
| City | Jourdanton | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78026 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (29 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|
| Craig Courter | ||||||||
| General Manager | 50 | Yes (X) | $402,366 | $0 | $75,863 | |||
| Eric Halfmann | ||||||||
| Engineering & Maintenance Manager | 50 | $257,256 | $0 | $49,963 | Yes (X) | |||
| Derrick Brummett | ||||||||
| Chief Financial Officer (Jan - April) | 40 | Yes (X) | $263,480 | $0 | $34,083 | |||
| David Burris | ||||||||
| Fuels Manager | 50 | $211,812 | $0 | $29,851 | Yes (X) | |||
| David Loeffler | ||||||||
| Class A Mechanic | 40 | $147,309 | $0 | $51,528 | Yes (X) | |||
| Derek Burns | ||||||||
| Operations Manager | 40 | $149,831 | $0 | $39,289 | Yes (X) | |||
| Benino Ramirez | ||||||||
| Mechanic Crew A | 40 | $142,124 | $0 | $43,932 | Yes (X) | |||
| Patrick Rakowitz | ||||||||
| Mechanic Leadman | 40 | $142,367 | $0 | $40,299 | Yes (X) | |||
| Santiago Carrasco | ||||||||
| Electric Leadman | 40 | $135,472 | $0 | $37,230 | Yes (X) | |||
| Vanessa Pawelek | ||||||||
| Administrative Services Manager (May - Dec.) | 40 | Yes (X) | $137,613 | $0 | $32,847 | |||
| Brian Acosta | ||||||||
| Director | 6 | $15,252 | $0 | $0 | Yes (X) | |||
| Rolando Alaniz | ||||||||
| Director | 5 | $15,072 | $0 | $0 | Yes (X) | |||
| Michael Jacobs | ||||||||
| Director | 4 | $14,400 | $0 | $0 | Yes (X) | |||
| John Roach | ||||||||
| Director | 12 | $14,160 | $0 | $0 | Yes (X) | |||
| Mike Ables | ||||||||
| Director | 4 | $13,826 | $0 | $0 | Yes (X) | |||
| David Rosse | ||||||||
| Director | 4.5 | $13,800 | $0 | $0 | Yes (X) | |||
| Clyde Stewart | ||||||||
| Assistant Secretary/Treasurer | 7 | $13,725 | $0 | $0 | Yes (X) | |||
| Kenneth White | ||||||||
| President | 7 | $13,700 | $0 | $0 | Yes (X) | |||
| Clif Lange | ||||||||
| Director | 10 | $13,650 | $0 | $0 | Yes (X) | |||
| Colt Haack | ||||||||
| Director | 7 | $13,488 | $0 | $0 | Yes (X) | |||
| Bode Hausmann | ||||||||
| Director | 4.5 | $13,440 | $0 | $0 | Yes (X) | |||
| Larry Schendel | ||||||||
| Director | 2 | $13,020 | $0 | $0 | Yes (X) | |||
| Ron Hughes | ||||||||
| Director | 4 | $12,925 | $0 | $0 | Yes (X) | |||
| Trey Grebe | ||||||||
| Director | 4 | $12,820 | $0 | $0 | Yes (X) | |||
| Brad Bierstedt | ||||||||
| Director | 4 | $12,801 | $0 | $0 | Yes (X) | |||
| Blaine Warzecha | ||||||||
| Vice President | 5 | $11,996 | $0 | $0 | Yes (X) | |||
| Jim Coleman | ||||||||
| Director | 6 | $2,145 | $0 | $0 | Yes (X) | |||
| Avan Irani | ||||||||
| Director | 6 | $0 | $0 | $0 | Yes (X) | |||
| Gary Raybon | ||||||||
| Director | 6 | $0 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,209,850 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $434,885 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 71 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/ForeignAddress/AddressLine1Txt | CityContractorAddress/ForeignAddress/CityNm | Province Or StateContractorAddress/ForeignAddress/ProvinceOrStateNm | CountryContractorAddress/ForeignAddress/CountryCd | Foreign PostalContractorAddress/ForeignAddress/ForeignPostalCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd |
|---|---|---|---|---|---|---|---|---|---|---|
| North American Construction Group | ||||||||||
| 27287 100th Avenue | Acheson | Alberta | CA | T7X6H8 | Mining Contractor | $69,357,366 | ||||
| Siemens Energy | ||||||||||
| Turbine rebuild contractor | $3,948,042 | DEPT CH 10169 | PALATINE | IL | 60055 | |||||
| GIS Construction | ||||||||||
| Contract Labor | $3,246,716 | 1821 N Port Avenue | Corpus Christi | TX | 78401 | |||||
| Holt Cat | ||||||||||
| Equipment contractor labor & materials | $2,505,963 | po box 650345 | dallas | TX | 75265 | |||||
| The Atlantic Group | ||||||||||
| Contract Labor | $5,173,114 | PO Box 654068 | Dallas | TX | 75265 | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 132 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Generation of Electricity | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $175,872,850 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $175,872,850 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $175,872,850 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,072,762 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,072,762 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $135,784 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $135,784 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Rpt Fundraising Event | $0 | ContriRptFundraisingEventAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Sales of SO2 - Emmissions Allowance | 221000 | $10 | $10 | $0 | $0 |
| Transmission | 221000 | $1,573,684 | $1,573,684 | $0 | $0 |
| Deferred Revenues | 221000 | -$1,214,814 | -$1,214,814 | $0 | $0 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,512,000 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,512,000 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,870,880 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $184,952,276 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $178,743,730 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $6,208,546 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,434,619 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,492,748 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,357,779 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,420,448 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,164,217 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,497,857 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,982,672 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,641,490 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| FUELS | $60,201,727 |
| ADMINISTRATION | $3,007,513 |
| OPERATIONS | $14,361,775 |
| MAINTENANCE | $31,588,321 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,801,110 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $184,952,276 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,606 | BOYAmt |
| EOY | $95,664 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,132 | BOYAmt |
| EOY | $6,441,485 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,325,409 | BOYAmt |
| EOY | $9,749,408 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,661,489 | BOYAmt |
| EOY | $77,153,123 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,362,728 | BOYAmt |
| EOY | $32,564,163 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $830,877,005 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $526,703,698 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $325,632,378 | BOYAmt |
| EOY | $304,173,307 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,531,414 | BOYAmt |
| EOY | $106,948,852 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,111,654 | BOYAmt |
| EOY | $2,142,825 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $558,755,810 | BOYAmt |
| EOY | $539,268,827 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,920,284 | BOYAmt |
| EOY | $10,327,055 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,184,067 | BOYAmt |
| EOY | $38,021,900 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,449,740 | BOYAmt |
| EOY | $63,813,757 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $91,169,069 | BOYAmt |
| EOY | $276,638,417 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $192,164,840 | BOYAmt |
| EOY | $3,490,800 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,889,203 | BOYAmt |
| EOY | $28,698,690 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $443,777,203 | BOYAmt |
| EOY | $420,990,619 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,978,607 | BOYAmt |
| EOY | $118,278,208 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,978,607 | BOYAmt |
| EOY | $118,278,208 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $558,755,810 | BOYAmt |
| EOY | $539,268,827 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $0 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $3,299,601 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $25,256,065 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Book Value | $25,256,065 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $529,056,740 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $389,350,379 | DepreciationAmt |
| Book Value | $139,706,361 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $164,554,555 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $119,859,792 | DepreciationAmt |
| Book Value | $44,694,763 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $112,009,645 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $17,493,527 | DepreciationAmt |
| Book Value | $94,516,118 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $304,173,307 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Mine Closure & Plant Decommissioning | $90,912,000 | F |
| Ash Pond Cleanout Funds | $2,283,993 | F |
| Patronage Capital from Associated Cooperatives | $3,625,816 | F |
| Restricted Investments in Associated Organizations | $10,127,043 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $106,948,852 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Accumulated Provisions for Mine Closure | $23,280,396 |
| Asset Retirement Obligation | $5,418,294 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $28,698,690 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $178,743,731 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $0 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Recoveries Prior Year Grants | $0 | RecoveriesPriorYearGrantsAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $178,743,731 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $0 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $6,208,545 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $6,208,545 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $184,952,276 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $180,517,657 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $0 | DonatedServicesUseFcltsAmt |
| Prior Year Adjustments | $0 | PriorYearAdjustmentsAmt |
| Losses Reported | $0 | LossesReportedAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $180,517,657 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $0 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $4,434,619 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $4,434,619 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $184,952,276 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 | ASC topic #740, "Income Taxes" requires that an enterprise cannot recognize a tax benefit in its financial statements unless it concludes that it is "more likely than not: that the benefit will be sustained on audit by the taxing authority". Tax-exempt and not-for-profit enterprises are also within the scope of the ASC, since the decision that some or all of an enterprise's activities are not subject to income taxes is itself a tax position for which the interpretation requires evaluation. At adoption, and annually thereafter, San Miguel applies the requirements to all tax positions for which the statute of limitations remained open. San Miguel recognizes the financial benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. San Miguel Electric Cooperative, Inc. was determined by the Internal Revenue Service to be an exempt cooperative for purposes of federal income taxes, under Section 501(c)(12) of the Internal Revenue code, in years when receipts from members, for the purpose of meeting losses and expenses, are at lease 85 percent of the total income. The amount of unrecognized tax benefits as of December 31, 2023, was zero. |
| Schedule D, Part XI, Line 4b | See general explanations on Schedule O for form 990-part 1 line 19. |
| Schedule D, Part XII, Line 4b | See general explanations on Schedule O for form 990-part 1 line 19. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Craig Courter | ||||||||||||||
| General Manager | $400,235 | $0 | $0 | $0 | $2,131 | $0 | $30,225 | $0 | $45,638 | $0 | $478,229 | $0 | $0 | |
| Eric Halfmann | ||||||||||||||
| Engineering & Maintenance Manager | $183,614 | $0 | $16,256 | $0 | $57,386 | $0 | $12,026 | $0 | $37,936 | $0 | $307,218 | $0 | $0 | $0 |
| David Burris | ||||||||||||||
| Fuels Manager | $186,705 | $0 | $15,877 | $0 | $9,230 | $0 | $19,828 | $0 | $10,023 | $0 | $241,663 | $0 | $0 | $0 |
| Derrick Brummett | ||||||||||||||
| Chief Financial Officer (Jan - April) | $71,225 | $0 | $18,707 | $0 | $173,548 | $0 | $17,824 | $0 | $16,259 | $0 | $297,563 | $0 | $0 | $0 |
| David Loeffler | ||||||||||||||
| Class A Mechanic | $144,971 | $0 | $1,938 | $0 | $400 | $0 | $15,616 | $0 | $35,912 | $0 | $198,837 | $0 | $0 | $0 |
| Derek Burns | ||||||||||||||
| Plant Manager | $146,558 | $0 | $1,707 | $0 | $1,567 | $0 | $5,736 | $0 | $33,553 | $0 | $189,121 | $0 | $0 | $0 |
| Benino Ramirez | ||||||||||||||
| Mechanic Crew A | $139,917 | $0 | $1,807 | $0 | $400 | $0 | $9,779 | $0 | $34,152 | $0 | $186,055 | $0 | $0 | $0 |
| Patrick Rakowitz | ||||||||||||||
| Mechanic Leadman | $136,155 | $0 | $1,612 | $0 | $4,600 | $0 | $8,270 | $0 | $32,028 | $0 | $182,665 | $0 | $0 | $0 |
| Vanessa Pawelek | ||||||||||||||
| Administrative Services Manager (May - Dec.) | $137,090 | $0 | $522 | $0 | $0 | $0 | $7,156 | $0 | $32,847 | $0 | $177,615 | $0 | $0 | $0 |
| Santiago Carrasco | ||||||||||||||
| Electric Leadman | $133,522 | $0 | $1,550 | $0 | $400 | $0 | $6,138 | $0 | $31,092 | $0 | $172,702 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part I, Line 4 | FormAndLineReferenceDesc |
| Explanation | During 2023, a severance payment was issued to an officer. Such payment was not material to the financial position, nor to the overall mission of the Cooperative. | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Atascosa County Industrial Development Corp | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 870810599 | BondIssuerEIN |
| CUSIP | 046578AC4 | CUSIPNum |
| Bond Issued | 2020-06-18 | BondIssuedDt |
| Issue Price | $62,540,000 | IssuePriceAmt |
| Purpose | To redeem 2008 Series Pollution Control Bonds | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $2,670,000 | RetiredAmt |
| Bond Defeased | $54,910,000 | BondDefeasedAmt |
| Total Proceeds | $0 | TotalProceedsAmt |
| In Reserve Fund | $0 | InReserveFundAmt |
| Capitalized Interest | $0 | CapitalizedInterestAmt |
| Refunding Escrow | $0 | RefundingEscrowAmt |
| Issuance Costs From Proceeds | $0 | IssuanceCostsFromProceedsAmt |
| Credit Enhancement | $0 | CreditEnhancementAmt |
| Working Capital Expenditures | $0 | WorkingCapitalExpendituresAmt |
| Capital Expenditures | $0 | CapitalExpendituresAmt |
| Other Spent Proceeds | $0 | OtherSpentProceedsAmt |
| Unspent | $0 | UnspentAmt |
| Substantial Completion | 1982 | SubstantialCompletionYr |
| Refunding Tax Exempt Bonds | Yes (1) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Private Bus Use By Others | 0 | PrivateBusUseByOthersPct |
| Private Bus Concerning UBI | 0 | PrivateBusConcerningUBIPct |
| Total Private Business Use | 0 | TotalPrivateBusinessUsePct |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | Yes (1) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | Yes (1) | NoRebateDueInd |
| Variable Rate Issue | 0 | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (1) | ProceduresCorrectiveActionInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule K, Part IV, Line 2c-06/18/2020 62,540,000 Atascosa County Industrial Development Corp | FormAndLineReferenceDesc |
| Explanation | Atascosa County Industiral Development - Rebate calculation was updated June 18, 2020. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (14 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part I, Line 19 | For the 2011 tax reporting year, the IRS made a significant change to the 990 instructions, whereby entitles exempt under 501 (c)(12) of the Internal Revenue Code are to report patronage dividend paid to their members on Part IX, Line 4. San Miguel being duly organized in the State of Texas and exempt under 501(c)(12) of the Internal Revenue Code operates on a cooperative, non-profit basis for the mutual benefit of its patrons. As such, all revenues or margins received in excess of operating costs are retained as equity and allocated a credit to each patron's capital account. Should the Board of Directors determine that the financial conditions of the Cooperative will not be impaired, and there are not requirements which restrict such distribution, the Board of Directors may choose to retire credits reflected in member accounts in part or in in full. Retirements of capital credits are restricted under San Miguel's current mortgage indenture until certain thresholds are met. San Miguel interprets the definition of "paid" to mean paid in money, property, or qualified written allocations: therefore, San Miguel is reporting as allocated, for the 2011 and all subsequent tax reporting years, all excess margins as paid to its patrons on an annual basis in accordance with the above referenced interpretations of the IRS instructions. |
| Form 990, Part VI, Section A, Line 1b | The decisions of the San Miguel Board of Directors are reported directly to the governing boards of the 10 member cooperatives. Certain contracts, i.e. wholesale power contracts are subject to the approval by the members of the 10 cooperatives. |
| Form 990, Part VI, Section A, Line 6 | San Miguel Electric Cooperative, Inc (San Miguel) is a not-for-profit cooperative corporation organized for the purpose of generating electric power. San Miguel sells power pursuant to a wholesale power contract with South Texas Electric Cooperative, Inc (South Texas), which is a generation of transmission cooperative. South Texas in turn, sells power at wholesale to their 10 member cooperatives, all of which are distribution cooperatives providing retail service to their member-customers. |
| Form 990, Part VI, Section A, Line 7a | San Miguel is governed by a board of 19 directors, each of whom is selected by and represents one of the 10 member cooperatives. The directors are elected annually at the San Miguel Annual Meeting. |
| Form 990, Part VI, Section A, Line 7b | The decisions of the San Miguel Board of Directors are reported directly to the governing boards for the member cooperatives. Certain contracts, i.e., wholesale power contracts are subject to the approval by the members of the cooperatives. |
| Form 990, Part VI, Section B, Line 11b | A copy of the draft IRS Form 990 was provided to each of the current board members for the July 2024 meeting. Company personnel reviewed the form 990 at the Finance and Audit Commitee meeting on July 18, 2024, with the full board present. Board members were given an opportunity to ask any questions prior to the filing of the return. |
| Form 990, Part VI, Section B, Line 12c | The San Miguel Board of Directors approved a Conflict-of-Interest Policy on December 10,2008. Since then, the policy has been amended on 07/21/2017 and 8/19/2022. The policy requires each "member of the Board of Directors, the General Manager, General Counsel and all Department Managers to file with the President of the Board of Directors, a Disclosure Report within (30) days after attaining such a position or status and then annually thereafter". The policy further specifies that "The President of the Board of Directors shall report no later than the regular March monthly Board meeting each year that he or she has received disclosure reports from all reporting persons signed and dated by February 15th of the current year". The disclosure report includes questions regarding each person's personal and business relationships and any potential claims against San Miguel. In accordance with policy requirements, the above-mentioned parties are asked to complete and sign both the disclosure report and/or the conflict-of-interest report on an annual basis. |
| Form 990, Part VI, Section B, Line 15 | The Salaries of all officers are based on a national survey for similar positions in the utility industry and recommended by an independent management consulting agency. |
| Form 990, Part VI, Section C, Line 19 | As San Miguel has outstanding loan funds guaranteed by the Rural Utilities Service, the financial statements are a matter of public record and are provided to individuals upon request. We do not typically make San Miguel's governing documents or conflict of interest policy available to the public. |
| Form 990, Part VII, Section A, Line 1a | See general explanation on Schedule O for Form 990, Part VI, Section B, Line 15. |
| Form 990, Part IX, Line 4 | See general explanation on Schedule O for core Form 990, Part I, Line 19. |
| Form 990, Part X, Line 2 | See general explanations on schedule O for form 990 |
| Form 990, Part XI, Line 9 | As part of the Brazos Transaction, funds were received in advance for Brazos' portion or debt obligations. During 2023, $1,135,019 of original debt obligations was amortized. As referenced on Schedule O, Part 1, Line 19, San Miguel's margins received in excess of operating costs are retained as equity and allocated as a credit to each patron's capital account. The amount of margins retained in 2023 was $4,434,619. The net margins and prepaid debt netted to $3,299,601. |
| Form 990, Part XII, Line 2c | Yes, the organization does have a committee that assumes responsibility for oversight of the audit, but no changes in its oversight process or selection has occurred during 2023. |
Reasonable Cause Explanation ReasonableCauseExplanation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | Filing was not late extension was filed and approved before due date. | ExplanationTxt |