Otero County Electric Cooperative Inc
- Assets
- $126.3m
- Revenue
- $36.6m
- Investments
- $0.0
- Employees
- 70
- Location
- Cloudcroft, NM
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 85-0058679
Organization Overview
Otero County Electric Cooperative Inc is located in Cloudcroft, NM. The organization was established in 1943. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Otero County Electric Cooperative Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Otero County Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2023, Otero County Electric Cooperative Inc generated $36.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $36.6m during the year ending 12/2023. While expenses have increased by 1.7% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 20,457 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Mulcock President | OfficerTrustee | 4.1 | $18,723 |
Cheri Hass Trustee | Trustee | 2.5 | $12,805 |
David Powers Trustee | Trustee | 2.8 | $6,418 |
Denny Burnett Vice President | OfficerTrustee | 4.5 | $28,344 |
Kenneth Blazer Trustee | Trustee | 5 | $1,382 |
Martha Mills Secretary | OfficerTrustee | 3 | $16,323 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Solar Electric Co Inc Construction Services | 12/30/23 | $944,981 |
Rogers Tree Service Power Line Clearing | 12/30/23 | $948,286 |
Arc Power Line Construction Llc Construction Services | 12/30/23 | $423,817 |
Osmose Utilities Services Inc Infrastructure Safety | 12/30/23 | $534,115 |
Grae Inc Information Technology Services | 12/30/23 | $245,527 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $35,913,020 |
| Investment income | $321,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $71,144 |
| Net Gain/Loss on Asset Sales | $34,243 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$17 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,589,993 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,429 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,800,721 |
| Compensation of current officers, directors, key employees. | $662,740 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,797,149 |
| Pension plan accruals and contributions | $468,606 |
| Other employee benefits | $638,887 |
| Payroll taxes | $200,112 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,630,168 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,434,408 |
| Insurance | $0 |
| All other expenses | $98,424 |
| Total functional expenses | $36,589,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,422 |
| Savings and temporary cash investments | $4,065,203 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,539,537 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,964,831 |
| Prepaid expenses and deferred charges | $1,665,013 |
| Net Land, buildings, and equipment | $98,306,164 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,126,390 |
| Intangible assets | $0 |
| Other assets | $3,289,130 |
| Total assets | $126,273,690 |
| Accounts payable and accrued expenses | $3,828,017 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $74,324,609 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,589,394 |
| Total liabilities | $84,742,020 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $41,531,670 |
| Total liabilities and net assets/fund balances | $126,273,690 |