San Isabel Electric Association

“San Isabel Electric Association is a not-for-profit membership organization whose members have identical voting rights and are assigned margins in accordance with the Cooperatives bylaws.”

“The Board Members are elected by the Membership.”

“The Board Members are elected by the Membership.”

“The Form 990 is emailed upon completion to the Board of Directors for their review. An internal review with payroll and accounting staff is also performed.”

“The organization monitors and enforces the conflict of interest policy through employee and Board education regarding the policy, as well as scheduled policy review with employees and the Board.”

“Information is gathered from state and national electric cooperative organizations to insure that levels of compensation are within statistical norms of the industry.”

“Bylaws, tariffs, and Board policies are available on our website; all other documents are available upon request.”

“The Cooperative has designated a policy for Directors compensation. Per the Cooperatives policy, whenever a Director attends any meeting, conference, or seminar approved by the Board, they receive reimbursement for actual expenses, with the exception of meals. Daily meals are reimbursed at per diem. In addition, the Director will receive a Directors fee of $350 for each day of the meeting. If a Director is absent from a regularly scheduled Board meeting, the Directors fee may be paid at the discretion of the Board. A form is provided to each Director to assist in tracking hours spent on behalf of the Cooperative. A monthly medical and dental insurance allowance of $200 is paid to each Director. Some Directors may serve on additional committees or have additional training requirements that result in additional time and expenses as compared to other Directors. A Director may defer Director fees in accordance with IRS Rules and Regulations. However, the money will be due and payable at the conclusion of the Directors tenure on the Board.Currently, Mr. Edward Garcia defers compensation as a Board Director.”

“Net Margins Assigned to Members $ 4,027,269Grants and Schlarships -Offset Exp on Part IX $ 172,074Other Changes $ -74,354Retirement of Capital Credits $ -1,015,139Total $ 3,109,850”

“Part III, Organizations MissionTo deliver on the promise of service and value to provide our membership with electric power and other needed products and services which will improve their quality of life. We will provide excellent service and maintain the highest social and ethical standards as we evaluate and utilize new technologies and resources to meet the needs of our membership.”

“Form 990, Part IX, Line 4The instructions to the 2024 Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year ended December 31, 2024.”