Mora-San Miguel Electric Cooperative Inc
- Assets
- $28.5m
- Revenue
- $12.9m
- Investments
- $0.0
- Employees
- 34
- Location
- Mora, NM
- Founding
- 10/1954
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Mora-San Miguel Electric Cooperative Inc generated $12.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $12.8m during the year ending 12/2021. While expenses have increased by 1.0% 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 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 11,431 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Montoya Ceo/general Manager | Officer | 40 | $149,300 |
James Ortiz Vice Chairman | OfficerTrustee | 3.8 | $4,500 |
Virginia Mondragon Secretary/treasurer | OfficerTrustee | 3.44 | $4,150 |
Joe C DE Baca Trustee | Trustee | 2.4 | $2,700 |
Robert Baca Chairman | OfficerTrustee | 3.61 | $2,250 |
Samuel A Ramirez Trustee (jun-Dec) | Trustee | 4.6 | $2,250 |
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 | $12,801,654 |
| Investment income | $9,954 |
| 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 | $16,408 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,852,709 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,100 |
| Grants and other assistance to domestic individuals. | $250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,006,579 |
| Compensation of current officers, directors, key employees. | $193,111 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,350,208 |
| Pension plan accruals and contributions | $130,067 |
| Other employee benefits | $274,709 |
| Payroll taxes | $112,801 |
| 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 | $597,215 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,257,273 |
| Insurance | $0 |
| All other expenses | $7,586 |
| Total functional expenses | $12,826,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,289,310 |
| Savings and temporary cash investments | $479,745 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,216,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $318,038 |
| Prepaid expenses and deferred charges | $68,081 |
| Net Land, buildings, and equipment | $17,521,361 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,152,668 |
| Intangible assets | $0 |
| Other assets | $432,900 |
| Total assets | $28,478,652 |
| Accounts payable and accrued expenses | $1,115,175 |
| 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 | $15,533,737 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,562,028 |
| Total liabilities | $18,210,940 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $70,065 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $10,197,647 |
| Total liabilities and net assets/fund balances | $28,478,652 |
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 |