Socorro Electric Foundation
- Assets
- $517.6k
- Revenue
- $146.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Socorro, NM
- Founding
- 03/1970
- Data as of
- 12/2023
- EIN
- 23-7044964
Organization Overview
Socorro Electric Foundation is located in Socorro, NM. The organization was established in 1970. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Socorro Electric Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Socorro Electric Foundation generated $146.8k in total revenue. All expenses for the organization totaled $81.8k during the year ending 12/2023. While expenses have increased by 13.1% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Socorro Electric Foundation has awarded 174 individual grants totaling $255,750. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE COLLEGE SCHOLARSHIPS TO STUDENTS LOCATED IN THE SERVICE AREA OF SOCORRO ELECTRIC COOPERATIVE. DURING 2023 54 STUDENTS RECEIVED SCHOLARSHIPS.
THE FOUNDATION SUPPORTS LOCAL SCHOOLS WITH ASSISTANCE IN HOLDING SPELLING BEES, COLORING CONTESTS, KIDS' SCIENCE CAFE, AND LIVESTOCK SALES.
GRANTS TO SUPPORT THE ANNUAL COUNTY FAIR, LOCAL 4H, AND FFA PROGRAMS.
THE FOUNDATION PAYS FOR STUDENTS AND ADVISORS TO TRAVEL TO WASHINGTON DC ON A YOUTH TOUR SPONSORED BY NEW MEXICO RURAL ELECTRIC COOPERATIVE ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leroy Anaya President | 1 | $0 | |
Ron Burnett Vice President | 1 | $0 | |
Ward Mccartney Trustee | 1 | $0 | |
Dave Wade Trustee | 1 | $0 | |
M Kenneth Bowden 0423-1223 Trustee | 1 | $0 | |
Stephen Rosas 0923-1223 Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $133,611 |
| Interest on Savings | $100 |
| Dividends & Interest | $8,240 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,812 |
| Capital Gain Net Income | $4,812 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $146,763 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $143 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,385 |
| Total operating and administrative expenses | $17,778 |
| Contributions, gifts, grants paid | $64,000 |
| Total expenses and disbursements | $81,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,306 |
| Savings and temporary cash investments | $336,291 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $517,597 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Socorro Electric Foundation has awarded $64,000 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
ALEA GARCIA-ARMSTRONG PURPOSE: SCHOLARSHIP | $1,000 |
BAAHAZHO H PIASO PURPOSE: SCHOLARSHIP | $1,000 |
BAAHAZHO H PIASO PURPOSE: SCHOLARSHIP | $1,000 |
CABLE ELLIS ANGELUS PURPOSE: SCHOLARSHIP | $1,000 |
CALEB M SAGER PURPOSE: SCHOLARSHIP | $1,000 |
CHARLES J WISNESKI PURPOSE: SCHOLARSHIP | $1,000 |