Sierra Electric Cooperative Inc
- Assets
- $27.9m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 18
- Location
- Elephant Butte, NM
- Founding
- 09/1952
- Data as of
- 12/2022
- 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 12/2022, Sierra Electric Cooperative Inc employed 18 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 12/2022, Sierra Electric Cooperative Inc generated $10.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $10.6m during the year ending 12/2022. While expenses have increased by 2.0% 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 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 4,600 ACTIVE SERVICES AT YEAR END.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Biel Treasurer | OfficerTrustee | 1.9 | $10,990 |
John Bokich Jan-March Trustee | Trustee | 2.4 | $3,178 |
Dennis Franklin Trustee | Trustee | 2 | $9,197 |
Tami Garrett Secretary | OfficerTrustee | 1.4 | $8,730 |
Judy Smith Trustee | Trustee | 1.5 | $8,233 |
Thomas Stroup Jan-July Trustee | Trustee | 0.7 | $4,525 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
T & D Construction Llc Broadband Made Ready Project | 12/30/22 | $1,648,309 |
Nisc Software Provider & Other Services | 12/30/22 | $142,333 |
T & D Services Llc Engineering Services | 12/30/22 | $122,528 |
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 | $10,466,304 |
| Investment income | $81,771 |
| 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 | $552 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,580,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,911 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $686,869 |
| Compensation of current officers, directors, key employees. | $241,249 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $709,325 |
| Pension plan accruals and contributions | $59,213 |
| Other employee benefits | $211,344 |
| Payroll taxes | $65,925 |
| 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 | $456,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $760,800 |
| Insurance | $0 |
| All other expenses | $27,208 |
| Total functional expenses | $10,580,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $355,490 |
| Savings and temporary cash investments | $2,275,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,117,211 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $198,508 |
| Prepaid expenses and deferred charges | $507,128 |
| Net Land, buildings, and equipment | $18,193,930 |
| Investments—publicly traded securities | $722,986 |
| Investments—other securities | $0 |
| Investments—program-related | $4,561,872 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,932,125 |
| Accounts payable and accrued expenses | $743,610 |
| 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 | $14,712,591 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $675,253 |
| Total liabilities | $16,131,454 |
| 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 | $11,800,671 |
| Total liabilities and net assets/fund balances | $27,932,125 |