New Mexico Rural Electrification Cooperative Association Inc
- Assets
- $642.7k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Santa Fe, NM
- Founding
- 06/1963
- Data as of
- 12/2021
- EIN
- 85-0155370
Organization Overview
New Mexico Rural Electrification Cooperative Association Inc is located in Santa Fe, NM. The organization was established in 1963. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, New Mexico Rural Electrification Cooperative Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Rural Electrification Cooperative Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, New Mexico Rural Electrification Cooperative Association Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 7 years. 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 EDUCATION, TRAINING AND INFORMATION TO MEMBER 501(C)(12) COOPERATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING EDUCATION, PERSONAL TRAINING AND PUBLICITY FOR 14 NEW MEXICO ELECTRIC COOPERATIVES, 2 GENERATION AND TRANSMISSION COOPERATIVES, AND 3 RURAL ELECTRIC DISTRIBUTION COOPERATIVE ASSOCIATE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keven Groenewold CEO & General Manager | Officer | 60 | $243,170 |
Edward Rougemont Self Insurer's Fund Admini | 40 | $102,694 | |
Charles T Pinson Jr President | OfficerTrustee | 3 | $0 |
Timothy Morrow Vice President | OfficerTrustee | 5 | $0 |
Duane Frost Secretary/treasurer | OfficerTrustee | 5 | $0 |
Chris Martinez Trustee | Trustee | 1 | $0 |
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 | $24,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,800 |
| Total Program Service Revenue | $1,694,589 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,436 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,814,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $268,587 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $319,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $259,478 |
| Payroll taxes | $34,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,354 |
| Fees for services: Accounting | $15,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $24,445 |
| Office expenses | $69,296 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,389 |
| Travel | $7,043 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,617 |
| Interest | $2,139 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,654 |
| Insurance | $27,543 |
| All other expenses | $6,694 |
| Total functional expenses | $1,778,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $293,519 |
| Savings and temporary cash investments | $71,983 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,571 |
| Net Land, buildings, and equipment | $212,552 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $29,041 |
| Intangible assets | $0 |
| Other assets | $30 |
| Total assets | $642,696 |
| Accounts payable and accrued expenses | $69,891 |
| 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 | $49,631 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $119,522 |
| Net assets without donor restrictions | $523,174 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $642,696 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Mexico Rural Electrification Cooperative Association Inc has recieved totaling $23,200.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: EDUCATIONAL FUND-EMPLOYEE AND DIRECTOR EDUCATION COURSES | $23,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cornerstone Credit Union League Plano, TX | $25,425,785 | $7,406,645 |
Mountain West Credit Union Association Denver, CO | $19,431,586 | $5,605,169 |
Rural Water Association Of Utah Alpine, UT | $1,806,143 | $3,088,618 |
Texas Cable Association Inc Austin, TX | $4,738,342 | $2,581,048 |
New Mexico Rural Electrification Cooperative Association Inc Santa Fe, NM | $642,696 | $1,814,637 |
Federation Of Chiropractic Licensing Board Greeley, CO | $2,841,286 | $1,327,561 |
Utility Supply Management Alliance Inc Argyle, TX | $406,100 | $671,174 |
Rural Water Association Of Arizona Apache Junction, AZ | $676,168 | $1,021,732 |
American Water Works Association Austin, TX | $1,711,439 | $1,118,501 |
Energy Telecommunication And Electrical Association Irving, TX | $54,011 | $505,914 |
American Association Of Zoo Keepers Tucson, AZ | $674,722 | $475,089 |
Global Syngas Technologies Council Sugarland, TX | $409,474 | $410,746 |