Sierra Electric Cooperative Inc
- Assets
- $28.3m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 20
- Location
- Elephant Butte, NM
- Founding
- 09/1952
- Data as of
- 12/2021
- EIN
- 85-0093694
Organization Overview
Sierra Electric Cooperative Inc is located in Elephant Butte, NM. The organization was established in 1952. 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, Sierra Electric Cooperative Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sierra 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, Sierra Electric Cooperative Inc generated $9.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $9.9m during the year ending 12/2021. While expenses have increased by 1.4% 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 ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 4,612 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Barrera General Manager | Officer | 50 | $118,968 |
Ofelia Melendez Manager Of Finance & Administration | 40 | $102,423 | |
George Biel Treasurer | OfficerTrustee | 2.2 | $10,241 |
John Bokich President | OfficerTrustee | 2.2 | $10,012 |
Tami Garrett Secretary | OfficerTrustee | 1.9 | $8,733 |
Thomas Stroup Vice President | OfficerTrustee | 1.7 | $8,723 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gila Cut-out Construction Utility System Construction | 12/30/21 | $605,301 |
Nisc Software Provider & Other Services | 12/30/21 | $133,272 |
T & D Services Engineering | 12/30/21 | $101,860 |
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 | $9,825,488 |
| Investment income | $49,288 |
| 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 | -$1,732 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,920,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,145 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $769,054 |
| Compensation of current officers, directors, key employees. | $204,627 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $709,599 |
| Pension plan accruals and contributions | $64,584 |
| Other employee benefits | $264,103 |
| Payroll taxes | $64,591 |
| 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 | $476,742 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $731,137 |
| Insurance | $0 |
| All other expenses | $12 |
| Total functional expenses | $9,923,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,460 |
| Savings and temporary cash investments | $3,125,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $845,046 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $213,381 |
| Prepaid expenses and deferred charges | $418,151 |
| Net Land, buildings, and equipment | $17,981,707 |
| Investments—publicly traded securities | $807,299 |
| Investments—other securities | $0 |
| Investments—program-related | $4,514,241 |
| Intangible assets | $0 |
| Other assets | $146,378 |
| Total assets | $28,287,663 |
| Accounts payable and accrued expenses | $726,467 |
| 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 | $15,405,967 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $672,947 |
| Total liabilities | $16,805,381 |
| 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 | $11,482,282 |
| Total liabilities and net assets/fund balances | $28,287,663 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Aqua Water Supply Corporation Bastrop, TX | $136,381,619 | $28,670,097 |
Roosevelt County Electric Cooperative Incorporated Portales, NM | $65,511,753 | $18,141,245 |
Consolidated Mutual Water Company Lakewood, CO | $221,800,692 | $15,225,271 |
Graham County Electric Cooperative Inc Pima, AZ | $54,360,204 | $15,258,294 |
Columbus Electric Cooperative Inc Deming, NM | $51,291,020 | $15,018,624 |
Texas Reliability Entity Inc Austin, TX | $5,509,609 | $14,208,096 |
Coleman County Electric Cooperative Inc Coleman, TX | $33,830,324 | $14,379,363 |
Fort Belknap Electric Cooperative Inc Olney, TX | $40,346,904 | $13,174,182 |
Mora-San Miguel Electric Cooperative Inc Mora, NM | $28,478,652 | $12,852,709 |
J-A-C Electric Cooperative Inc Henrietta, TX | $27,594,358 | $11,304,543 |
Sharyland Water Supply Corporation Alton, TX | $110,187,216 | $13,299,506 |
Military Highway Water Supply Corporation Progreso, TX | $74,721,463 | $12,992,786 |