Mora-San Miguel Electric Cooperative Inc
- Assets
- $37.6m
- Revenue
- $13.1m
- Investments
- $0.0
- Employees
- 34
- Location
- Mora, NM
- Founding
- 10/1954
- Data as of
- 12/2022
- EIN
- 85-0084487
Organization Overview
Mora-San Miguel Electric Cooperative Inc is located in Mora, NM. The organization was established in 1954. 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 12/2022, Mora-San Miguel Electric Cooperative Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mora-San Miguel 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 12/2022, Mora-San Miguel Electric Cooperative Inc generated $13.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $13.1m during the year ending 12/2022. While expenses have increased by 1.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST LEVEL OF ELECTRICAL SERVICE CONSISTENT WITH EFFICIENT AND SOUND PRINCIPLES.
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 11,153 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Ortiz Vice President | OfficerTrustee | 3.8 | $8,700 |
Samuel A Ramirez Trustee (jun-Dec) | Trustee | 4.6 | $6,000 |
Virginia Mondragon Secretary/treasurer | OfficerTrustee | 3.44 | $3,700 |
Joe C DE Baca Trustee | Trustee | 2.4 | $3,250 |
Robert Baca President | OfficerTrustee | 3.61 | $2,850 |
Leslie Montoya Ceo/general Manager | Officer | 40 | $150,737 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wsi Southwest Inc Electrical Contractor | 12/30/22 | $3,931,987 |
Four States Electric Inc Electrical Contractor | 12/30/22 | $274,439 |
Transmission & Distribution Services Ll Construction Engineering Company | 12/30/22 | $159,653 |
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 | $13,032,758 |
| Investment income | $5,642 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $14,691 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,076,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,700 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $773,226 |
| Compensation of current officers, directors, key employees. | $206,229 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,306,804 |
| Pension plan accruals and contributions | $56,331 |
| Other employee benefits | $280,130 |
| Payroll taxes | $118,106 |
| 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 | $634,175 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,245,683 |
| Insurance | $0 |
| All other expenses | $7,722 |
| Total functional expenses | $13,056,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,622,122 |
| Savings and temporary cash investments | $481,995 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,443,354 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,375,775 |
| Prepaid expenses and deferred charges | $68,333 |
| Net Land, buildings, and equipment | $24,590,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,263,922 |
| Intangible assets | $0 |
| Other assets | $730,765 |
| Total assets | $37,576,968 |
| Accounts payable and accrued expenses | $2,944,623 |
| 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 | $21,993,208 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,584,582 |
| Total liabilities | $26,522,413 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $71,830 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,982,725 |
| Total liabilities and net assets/fund balances | $37,576,968 |