2025-07-17T08:17:03-07:00 2024-12-31 990 2024-01-01 840312795 SAN LUIS VALLEY RURAL ELECTRIC COOPERATIVE INC SANL 7198523538 PO Box 3625 Monte Vista CO 81144 James Romero CFO 7198526631 2025-07-14 1 2024 2025-03-06 01:10:19Z James Romero PO Box 3625 Monte Vista CO 81144 44328084 0 X www.slvrec.com X 1937 CO Sales of Electricity on a Cooperative Basis 7 7 57 0 0 0 0 0 43139358 44097804 126719 215162 22657 15118 43288734 44328084 0 0 1197738 1952736 6888975 6807185 0 0 0 35202021 35568163 43288734 44328084 0 0 153889315 157741137 100085374 102073863 53803941 55667274 Sales of Electric power to Members. We had 13,355 meters in place at the end of 2024. 0 0 Sales of Electricty on a cooperative basis Broadband Service on a patronage basis 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 99 0 57 1 0 0 0 0 0 44097805 230279 0 0 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 1 0 0 1 1 1 0 X San Luis Valley Rural Electric Cooperative Inc 7198523538 3625 US Hwy 160 W Monte Vista CO 81144 Eric Eriksen Chief Executive Officer 40 X 303302 0 66111 Marvin Martinez Area Serviceman 55 X 199019 0 73405 JoAn Waudby Treasurer / Chief Financial Officer 45 X 196556 0 59218 Stacy Valdez Manager of Customer Service and Billing 45 0 X 174600 0 65647 Monroe Johnson Chief Technology Officer 45 0 X 177982 0 59960 Rudolph Viialpando Sericeman 45 0 X 172027 0 62756 Michelle Trujillo Assistant Secretary / Human Resource Manager 42 0 X 175615 0 56154 Shawn McKibbon Chief Operating Officer 45 0 X 172681 0 55495 Wade Warman Working Foreman 45 0 X 162875 0 65109 Ryan Christensen Working Foremen 45 0 X 169614 0 55386 Randy Magnuson Working Foremen 45 0 X 169991 0 52969 Terry Daley Engineering Manager 42 0 X 154275 0 68118 Keenan Anderson Board Presidentt 2.74 0 X X 28527 0 0 Scott Wolf Director 2.79 0 X 28227 0 0 Carol Lee Dugan Director 2.09 0 X 19868 0 0 Stephen Valdez Vice President 2.71 0 X X 12657 0 0 Kim Wakasugi Director 1.63 0 X 11323 0 0 Creede Hargraves Director 1.93 0 X 5606 0 0 Wade Lockhart Secretary 1.91 X X 3735 0 0 2338480 0 740328 43 0 1 0 AgriPower Solar 40 W Truman Ave Salt Lake City UT 84115 Solar Contractor 1326000 Asplundh Tree Expert PO Box 827464 Philadelphia PA 19182 Right of Way Clearing 534649 JKL Associates Inc PO Box 80046 Billings MT 59108 Construction 470052 Leidos Engineering LLC PO Box 223058 Pittsburgh PA 15251 Engineering 438430 Hoot Communications LLC Roland Gillenwater 1245 French St Del Norte CO 81132 Fiber Optic Splicing Company 202551 6 0 Electricity Sales Revenue 221122 35929796 35929796 0 0 Broadband Revenue 517100 7274344 7274344 0 0 Capital Credit Revenue 221122 769863 769863 0 0 Fee & Service Revenue 221122 118972 118972 0 0 Warehouse Sales 221122 5634 5634 0 0 -805 -805 0 0 44097804 124877 0 0 124877 0 0 0 0 0 0 0 0 0 15118 0 0 0 15118 15118 0 0 15118 0 90285 0 0 0 90285 90285 0 0 90285 0 44328084 44097804 0 230280 1952736 1895659 0 2600630 527759 1423622 359515 0 40197 0 0 0 0 0 94288 14778 318346 0 0 0 0 78790 4687528 0 6393615 182138 Power Cost 17309329 Distribution Expense 3099078 Broadband Expense 2036850 Customer Account & Service Expense 818651 494575 44328084 0 0 0 866945 647927 530721 1533985 0 4175836 4512932 7047575 6798621 1473504 1245292 188465674 73907255 113413763 114558419 979815 1133622 23153750 23373845 151246 2096160 3936494 153889315 157741137 5346046 5475781 26098 18268 91917267 93512651 2795963 3067163 100085374 102073863 X 0 0 0 0 53803941 55667274 53803941 55667274 153889315 157741137 X 0 0 0 0 0 1863333 X 1 X 1 X 1 0 1413119 0 1413119 8136363 0 3703524 4432839 0 0 0 0 113413452 0 22219912 91193540 65502740 0 47983819 17518921 114558419 Investments in Associated Organizations 23373845 C 23373845 Customer Deposits 379592 Capital Lease Obligation 693013 Retirement Obligations 5594 Deferred Credits 1988964 3067163 44328084 0 0 0 0 0 44328084 0 0 0 44328084 44328084 0 0 0 0 0 44328084 0 0 0 44328084 0 0 0 Eric Eriksen Chief Executive Officer 303302 0 0 0 0 0 0 0 66111 0 369413 0 0 0 JoAn Waudby Treasurer / Chief Financial Officer 192134 0 4422 0 0 0 0 0 59218 0 255774 0 0 0 Michelle Trujillo Assistant Secretary / Human Resource Manager 164417 0 11198 0 0 0 0 0 56154 0 231769 0 0 0 Stacy Valdez Manager of Customer Service and Billing 163946 0 10655 0 0 0 0 0 65647 0 240248 0 0 0 Monroe Johnson Chief Technology Officer 165900 0 12082 0 0 0 0 0 59960 0 237942 0 0 0 Shawn McKibbon Chief Operating Officer 161800 0 10881 0 0 0 0 0 55495 0 228176 0 0 0 Terry Daley Engineering Manager 147034 0 7241 0 0 0 0 0 68118 0 222393 0 0 0 Rudolph Viialpando Sericeman 169255 0 2772 0 0 0 0 0 62756 0 234783 0 0 0 Wade Warman Working Foreman 156387 0 6489 0 0 0 0 0 65109 0 227985 0 0 0 Marvin Martinez Area Serviceman 193475 0 5544 0 0 0 0 0 73405 0 272424 0 0 0 Ryan Christensen Working Foremen 163125 0 6489 0 0 0 0 0 55386 0 225000 0 0 0 Randy Magnuson Working Foremen 163502 0 6489 0 0 0 0 0 52969 0 222960 0 0 0 Form 990, Part VI, Section A, Line 6 San Luis Valley Rural Electric has 7,909 members Form 990, Part VI, Section A, Line 7a Members elect the 7 board members at our Annual Meeting. They can vote in person or by mail Form 990, Part VI, Section B, Line 11b Form 990 is shared with the board electronically Form 990, Part VI, Section B, Line 15 CEO compensation is set by board of directors using compensation surveys. CFO and other Executive staff is determined through NRECA Compensate program based on comparative data and responsibility of position. Form 990, Part VI, Section C, Line 19 By-laws are on website other information is given upon request Form 990, Part XI, Line 9 Capital Credit Refunds to members and allocated patronage capital To the Internal Revenue Service: This letter requests a penalty abatement for the late filing of Form 990 for the tax year ending 2024. The late filing resulted from unforeseen circumstances beyond control: the unexpected retirement of the long-serving Chief Financial Officer JoAn Waudby. The previous CFO, who worked at the organization for 27 years, retired without notice earlier this year. This left the organization without the key individual responsible for preparing Form 990. This leadership gap in the finance department, combined with the lack of internal knowledge of Form 990 preparation and filing, significantly disrupted operations and prevented timely tax obligation fulfillment. The organization acknowledges the responsibility to comply with filing requirements and assures the IRS that this situation occurred despite the exercise of ordinary business care and prudence. After the previous CFO's departure, the organization immediately began hiring a replacement. New procedures are being implemented to ensure proper documentation and cross-training within the finance department to prevent future issues. The IRS is respectfully requested to consider these circumstances as reasonable causes for the delay in filing Form 990 and to abate any associated penalties. Sincerely, James Romero San Luis Valley REC 84-0312795 719-852-3538