Civic Intelligence

Kansas Electric Power Cooperative Inc

EIN 48-0836984 • 501(c)12 • Topeka, KS

Profile

To procure an adequate and reliable power supply for the organization's 16 distribution rural electric cooperative member/owners at a reasonable cost.

600 SW Corporate ViewTopeka, KS 66615

www.kepco.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.70x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

1.43x

Higher debt load relative to revenue than 46% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Net Margin

61st percentile

0.6%

Higher net margin than 61% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

21st percentile

$417,392

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Asset Growth

6th percentile

-0.8%

Faster asset growth than 6% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

31st percentile

3.2%

Faster revenue growth than 31% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Down

$309,487,229

Down $2,553,158 (-0.8%) from 2023

Liabilities

Down

$217,456,048

Down $4,878,093 (-2.2%) from 2023

Net Assets

Up

$92,031,181

Up $2,324,935 (+2.6%) from 2023

Revenue

Up

$152,486,482

Up $4,733,636 (+3.2%) from 2023

Expenses

Up

$151,496,067

Up $6,032,550 (+4.1%) from 2023

Net Income

Down

$990,415

Down $1,298,914 (-57%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2011: $278,488,419Liabilities 2011: $231,808,934Net Assets 2011: $46,679,4852011Assets 2012: $268,557,587Liabilities 2012: $209,992,675Net Assets 2012: $58,564,9122012Assets 2013: $274,535,281Liabilities 2013: $208,660,687Net Assets 2013: $65,874,5942013Assets 2014: $280,768,857Liabilities 2014: $215,627,134Net Assets 2014: $65,141,7232014Assets 2015: $280,840,653Liabilities 2015: $211,323,293Net Assets 2015: $69,517,3602015Assets 2016: $291,168,504Liabilities 2016: $220,873,822Net Assets 2016: $70,294,6822016Assets 2017: $287,881,223Liabilities 2017: $215,720,645Net Assets 2017: $72,160,5782017Assets 2018: $280,168,485Liabilities 2018: $205,063,874Net Assets 2018: $75,104,6112018Assets 2019: $291,259,404Liabilities 2019: $213,133,250Net Assets 2019: $78,126,1542019Assets 2020: $303,130,738Liabilities 2020: $226,670,304Net Assets 2020: $76,460,4342020Assets 2021: $324,892,215Liabilities 2021: $245,226,708Net Assets 2021: $79,665,5072021Assets 2022: $309,864,388Liabilities 2022: $222,438,956Net Assets 2022: $87,425,4322022Assets 2023: $312,040,387Liabilities 2023: $222,334,141Net Assets 2023: $89,706,2462023Assets 2024: $309,487,229Liabilities 2024: $217,456,048Net Assets 2024: $92,031,1812024

Highlighted filing

2024

Assets$309,487,229
Liabilities$217,456,048
Net Assets$92,031,181

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0-$50MRevenue 2011: $162,280,870Expenses 2011: $151,447,067Net Income 2011: $10,833,8032011Expenses 2012: $159,830,7362012Revenue 2013: $165,601,753Expenses 2013: $163,010,163Net Income 2013: $2,591,5902013Revenue 2014: $174,173,592Expenses 2014: $170,681,160Net Income 2014: $3,492,4322014Revenue 2015: $163,188,415Expenses 2015: $159,907,274Net Income 2015: $3,281,1412015Revenue 2016: $161,782,179Expenses 2016: $159,849,285Net Income 2016: $1,932,8942016Revenue 2017: $155,188,358Expenses 2017: $152,835,877Net Income 2017: $2,352,4812017Revenue 2018: $164,607,848Expenses 2018: $161,897,545Net Income 2018: $2,710,3032018Revenue 2019: $154,657,016Expenses 2019: $151,860,557Net Income 2019: $2,796,4592019Revenue 2020: $149,853,338Expenses 2020: $149,881,009Net Income 2020: -$27,6712020Revenue 2021: $155,298,946Expenses 2021: $154,230,546Net Income 2021: $1,068,4002021Revenue 2022: $165,593,549Expenses 2022: $164,193,277Net Income 2022: $1,400,2722022Revenue 2023: $147,752,846Expenses 2023: $145,463,517Net Income 2023: $2,289,3292023Revenue 2024: $152,486,482Expenses 2024: $151,496,067Net Income 2024: $990,4152024

Highlighted filing

2024

Revenue$152,486,482
Expenses$151,496,067
Net Income$990,415

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$309$217$92.0$152$151$0.99
2023Detailed filing. Detailed filing data is available for this year.$312$222$89.7$148$145$2.29
2022Detailed filing. Detailed filing data is available for this year.$310$222$87.4$166$164$1.40
2021Detailed filing. Detailed filing data is available for this year.$325$245$79.7$155$154$1.07
2020Detailed filing. Detailed filing data is available for this year.$303$227$76.5$150$150$0.03
2019Detailed filing. Detailed filing data is available for this year.$291$213$78.1$155$152$2.80
2018Detailed filing. Detailed filing data is available for this year.$280$205$75.1$165$162$2.71
2017Detailed filing. Detailed filing data is available for this year.$288$216$72.2$155$153$2.35
2016Detailed filing. Detailed filing data is available for this year.$291$221$70.3$162$160$1.93
2015Detailed filing. Detailed filing data is available for this year.$281$211$69.5$163$160$3.28
2014Detailed filing. Detailed filing data is available for this year.$281$216$65.1$174$171$3.49
2013Detailed filing. Detailed filing data is available for this year.$275$209$65.9$166$163$2.59
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$269$210$58.6$160
2011Summary only. Only limited summary data is available for this year.$278$232$46.7$162$151$10.8
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.1
Gross Receipts
$152,486,482
Mission and Program Overview

Mission

To procure an adequate and reliable power supply for the organization's 19 distribution rural electric cooperative member/owners at a reasonable cost.

To procure an adequate and reliable power supply for the organization's 16 distribution rural electric cooperative member/owners at a reasonable cost.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$192,189,432$199,440,261▲ $7,250,829
Rtn Earn Endowment Incm Other Fnds$89,703,046$92,027,981▲ $2,324,935
Investments in Publicly Traded Securities$39,482,268$44,983,386▲ $5,501,118
Savings and Temporary Cash Investments$30,232,701$24,946,751▼ $5,285,950
Accounts Receivable$10,591,037$12,117,867▲ $1,526,830
Investments Program Related$10,451,378$9,915,907▼ $535,471
Inventories for Sale or Use$8,183,259$8,697,978▲ $514,719
Prepaid Expenses and Deferred Charges$6,643,526$2,110,063▼ $4,533,463
Cash and Non-Interest-Bearing Accounts$201,349$29,059▼ $172,290
Cap Stk Tr Prin Current Funds$3,200$3,200→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$312,040,387$309,487,229▼ $2,553,158
Other Assets Total$14,065,437$7,245,957▼ $6,819,480
Liabilities
Mortgage Notes Payable Secured by Investment Property$144,840,833$145,256,541▲ $415,708
Other Liabilities$53,411,202$55,261,939▲ $1,850,737
Accounts Payable and Accrued Expenses$23,635,913$16,937,568▼ $6,698,345
Deferred Revenue$446,193$0▼ $446,193
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$222,334,141$217,456,048▼ $4,878,093
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$89,706,246$92,031,181▲ $2,324,935
Total Liabilities and Net Assets / Fund Balance$312,040,387$309,487,229▼ $2,553,158

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$86,576,894$213,139,796$299,716,690
Buildings$82,098,852$12,630,848$94,729,700
Other Land Buildings$29,826,566-$29,826,566
Land$937,949-$937,949
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Coleen WellsSr VP & Chief Financial OfficerFT$255,295$162,097$417,392
Mark BarbeeSr VP & Chief Operating OfficerFT$229,523$170,611$400,134
Steven O FossExecutive VP & CEO Since 03/22/2024FT$360,450-$360,450
Susan CunninghamSR VP & General CounselFT$213,692$109,002$322,694
Mark DoljacExecutive Director, Rates & PlanningFT$140,286$95,319$235,605
Suzanne LaneExecutive VP & CEO Through 03/22/2024FT$99,971$118,286$218,257
Shawn GeilExecutive Director, Technical & Energy ServicesFT$122,166$79,525$201,691
Rebecca FowlerDirector Regulatory AffairsFT$118,504$73,509$192,013
Lori JonesTrustee-$24,017-$24,017
Chuck GoeckelVice-President-$20,062-$20,062
Michael MortonPresidentPT$19,497-$19,497
Kirk ThompsonTrustee-$19,216-$19,216
Byran CooverSecretary-$15,684-$15,684
Mark ScheibeTrustee-$15,609-$15,609
Chris ParrTrustee-$14,977-$14,977
Dennis SvanesTrustee-$14,267-$14,267
Ken HedbergTreasurer-$14,267-$14,267
Larry FroeseTrustee-$14,267-$14,267
Kevin BrownleeTrustee-$13,253-$13,253
Kevin ComptonTrustee-$13,137-$13,137
Paul WilsonTrustee-$12,995-$12,995
Dan HubertTrustee-$12,572-$12,572
John SchonTrustee-$12,291-$12,291
Gene ScheerTrustee-$9,747-$9,747
Don MetzenTrustee-$4,520-$4,520

Highest Paid Contractors

ContractorServicesLocationCompensation
K&l Gates LLPLegal Assistance4900 MAIN ST 650, SUITE 800, Kansas City, MO 64112$426,074
Steven FossTemporary Management Services4715 MCCORMICK DRIVE, Basehor, KS 66007$360,450
Gds Associates INCConsulting1850 PARKWAY PLACE, Marietta, GA 30067$335,863
AcesEnergy Management4140 WEST 99TH ST, Carmel, IN 46032$147,077
GuernseyConsulting5555 N GRAND, Oklahoma City, OK 73112$125,652
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$150,655,639
Investment Income
$1,541,960
Other Revenue
$288,883
All Other Contributions
$0
Change in Net Assets
$990,415

Audited Revenue Reconciliation

Revenue per Audited Statements
$152,427,628
Revenue Not Reported on Financial Statements
$58,854
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$58,854
Total Revenue per Audited Statements
$152,427,628
Total Revenue per Form 990
$152,486,482
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,674,287
Salaries, Compensation, and Employee Benefits$10,800,611
Grants and Similar Amounts Paid$21,169
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$11,717,823
Interest---$7,185,130
Other Salaries and Wages---$6,284,531
Occupancy---$2,486,081
Other Employee Benefits---$1,933,470
Fees for Services Other---$1,788,304
Current Officers, Directors, Trustees, and Key Employees---$1,260,214
Pension Plan Contributions---$729,670
Conferences and Meetings---$640,805
Payroll Taxes---$592,726
Office Expenses---$523,885
Information Technology---$364,888
Other Expenses---$356,638
Insurance---$144,082
Advertising---$134,533
All Other Expenses---$102,209
Travel---$98,865
Grants to Domestic Orgs---$21,169
Fees for Services Lobbying---$11,572
Total Functional Expenses$0$0$0$151,496,067

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$151,496,067
Expenses per Audited Statements$151,437,213
Total Expenses per Audited Statements$151,437,213
Expenses Not Reported on Financial Statements$58,854
Other Expense Adjustments$58,854
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Lobbying activity
No
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$4,900
Section 527 Activity Spending$4,900
Total Exempt Function Spending$4,900
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$49,204,847
Wolf Creek Decommissioning Liability$6,054,932
Wolf Creek Decommissioning Regulatory Liability$2,160
Wolf Creek Operating Liability-
Asset Retirement Obligation-
Lease Liability-
Pension Liabilities-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

The organization is governed by a board of trustees representing each of its 16 member/owners.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Each member is engaged in the business of the distribution of electric energy. Each member acts through a trustee representative or alternate trustee representative, who is an employee or member of the board of that member trustee. The trustee shall choose the trustee representative or alternate trustee representative. The officers of the board must be from the board of trustees and are elected by a majority vote of the trustee representatives at the board meeting following the annual meeting.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The 990 return is prepared by an outside accounting firm. The return is then reviewed internally by management prior to filing with the IRS. A copy of the Form 990 is made available to members of the governing body prior to filing, at the September 2025 board meeting. If no objections are made, the 990 is filed.

Form 990, Part VI, Line 12C Conflict of interest policy

The organization has a conflict of interest policy. The board members are made aware of the policy on an annual basis. When board members or Kansas Electric Power Cooperative, Inc. employees come forward with conflicts of interest, the organization enforces the policy.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Annually the board of trustees meets to determine the compensation of the organization's CEO. The meeting is held in executive session. The compensation is based on comparable electric cooperatives throughout the country.

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Kansas Electric Power Cooperative Inc
EIN
48-0836984
Phone
7852737010
Address
600 SW CORPORATE VIEW, TOPEKA, KS 66615

Signing Officer

Name
Kevin Noblet
Title
Executive VP & CEO
Phone
7852737010
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Formed
1975
Legal Domicile
Ks
Voting Board Members
16
Independent Board Members
16
Employees
27
Volunteers
24

Preparer

Firm
Forvis Mazars LLP
Address
PO Box 3667, Little Rock, AR 72203-3667
Preparer
Amber Sherrill
Phone
5013721040
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Net gain arising during the year on pension obligation - 1642618; Amort of PY service costs and actuarial gains included in net periodic benefit costs - -128361; ALLOCATED MARGIN TO KSI - -179737; Total - 1334520;

Financial Statement Notes

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Expenses in revenue per audit - 58854

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Expenses in revenue per audit - 58854

Raw XML AppendixShowing 400 of 908 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt19Executive VP & CEO Through 03/22/2024
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