Roosevelt County Electric Cooperative Incorporated
- Assets
- $65.5m
- Revenue
- $18.1m
- Investments
- $0.0
- Employees
- 52
- Location
- Portales, NM
- Founding
- 10/1940
- Data as of
- 12/2021
- EIN
- 85-0065332
Organization Overview
Roosevelt County Electric Cooperative Incorporated is located in Portales, NM. The organization was established in 1940. 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 12/2021, Roosevelt County Electric Cooperative Incorporated employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roosevelt County Electric Cooperative Incorporated 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 12/2021, Roosevelt County Electric Cooperative Incorporated generated $18.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $18.1m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRICAL SERVICE TO THE MEMBERS WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALES OF ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 6,102 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antonio Sanchez Jr General Manager/executive VP | Officer | 48 | $146,807 |
Eric Segovia Engineering Manager | Officer | 40 | $106,926 |
Preston Elkins Accounting & Finance Manager | Officer | 50 | $59,466 |
Janet Collins Vice President | OfficerTrustee | 2.4 | $10,028 |
Darrell Caviness Trustee | Trustee | 2.7 | $9,517 |
Charles Bennett Jr Trustee | Trustee | 2.1 | $9,405 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stoven Construction Inc Contractor | 12/30/17 | $658,358 |
Torres And Sons Contractor | 12/30/17 | $113,656 |
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 | $18,008,659 |
| Investment income | $121,641 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,130 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,220 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,141,245 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,265 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $230,563 |
| Compensation of current officers, directors, key employees. | $517,754 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,514,355 |
| Pension plan accruals and contributions | $277,655 |
| Other employee benefits | $273,318 |
| Payroll taxes | $131,950 |
| 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 | $1,002,592 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,114,613 |
| Insurance | $0 |
| All other expenses | $79,682 |
| Total functional expenses | $18,146,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,128,940 |
| Savings and temporary cash investments | $2,648,144 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,080,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $469,209 |
| Inventories for sale or use | $1,014,857 |
| Prepaid expenses and deferred charges | $747,886 |
| Net Land, buildings, and equipment | $44,358,069 |
| Investments—publicly traded securities | $2,529,265 |
| Investments—other securities | $0 |
| Investments—program-related | $5,529,273 |
| Intangible assets | $0 |
| Other assets | $3,005,515 |
| Total assets | $65,511,753 |
| Accounts payable and accrued expenses | $1,741,928 |
| 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 | $38,808,098 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,475,201 |
| Total liabilities | $44,025,227 |
| 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 | $21,486,526 |
| Total liabilities and net assets/fund balances | $65,511,753 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jemez Mountains Electric Cooperative Inc Espanola, NM | $130,164,432 | $49,848,005 |
Navarro County Electric Cooperative Inc Corsicana, TX | $102,970,554 | $49,278,830 |
Y W Electric Association Inc Colorado Rea 38 Akron, CO | $130,403,627 | $47,254,335 |
Dixie Escalante Rural Beryl, UT | $171,660,221 | $52,285,597 |
Rural Electric Co Op Inc Lindsay, OK | $94,050,768 | $47,989,459 |
Kiamichi Electric Cooperative Inc Wilburton, OK | $118,158,279 | $46,432,215 |
Houston County Electric Cooperative Inc Crockett, TX | $158,669,671 | $45,143,222 |
Morgan County Rural Electric Association Fort Morgan, CO | $104,279,755 | $45,102,816 |
North Plains Electric Cooperative Incorporated Perryton, TX | $109,565,276 | $41,899,328 |
Concho Valley Electric Cooperative Inc San Angelo, TX | $125,005,347 | $44,400,615 |
Navasota Valley Electric Cooperative Inc Franklin, TX | $102,144,082 | $44,111,524 |
Cooke County Electric Cooperative Association Muenster, TX | $91,559,642 | $43,344,905 |