Lea County Electric Education Foundation
- Assets
- $2.0m
- Revenue
- $398.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lovington, NM
- Founding
- 03/1988
- Data as of
- 12/2021
- EIN
- 85-0351147
Organization Overview
Lea County Electric Education Foundation is located in Lovington, NM. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lea County Electric Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lea County Electric Education Foundation generated $398.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $256.3k during the year ending 12/2021. While expenses have increased by 10.7% per year over the past 4 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.
Since 2019, Lea County Electric Education Foundation has awarded 428 individual grants totaling $1,435,250. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS TO MEMBERS OF LEA COUNTY ELECTRIC COOPERATIVE, INC. AND TO THEIR IMMEDIATE FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Graham President | 1 | $0 | |
Robert Caudle Vice-President | 1 | $0 | |
Dan Hardin Secretary - Treasurer | 1 | $0 | |
Travis Glenn Trustee | 1 | $0 | |
Kenny Wallace Trustee | 1 | $0 | |
Randall Mccormick Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $215,616 |
| Interest on Savings | $0 |
| Dividends & Interest | $33,389 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $149,595 |
| Capital Gain Net Income | $149,595 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $398,600 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,567 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $70 |
| Total operating and administrative expenses | $23,950 |
| Contributions, gifts, grants paid | $232,375 |
| Total expenses and disbursements | $256,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,318 |
| Savings and temporary cash investments | $1,999,384 |
| Net Accounts receivable | $939 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,028,641 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $13,750 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,750 |
Grants Awarded
Over the last fiscal year, Lea County Electric Education Foundation has awarded $331,500 in support to 75 organizations.
| Grant Recipient | Amount |
|---|---|
BLEYNBERG MADISON PURPOSE: SCHOLARSHIP | $12,500 |
WIER CORDELIA PURPOSE: SCHOLARSHIP | $12,500 |
WHITMAN ALEXUS PURPOSE: SCHOLARSHIP | $7,875 |
BARKER BRADLEY PURPOSE: SCHOLARSHIP | $7,500 |
BOYLES BRYCE PURPOSE: SCHOLARSHIP | $7,500 |
CHAVIRA JACQUELYN PURPOSE: SCHOLARSHIP | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colorado State University Foundation Fort Collins, CO | $706,044,439 | $163,322,590 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
Colorado School Of Mines Foundation Golden, CO | $425,843,908 | $49,131,943 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
American Indian College Fund Denver, CO | $151,570,496 | $57,441,920 |
Lincoln Institute Of Land Policy Phoenix, AZ | $774,885,329 | $64,138,879 |
Asu Enterprise Partners Tempe, AZ | $381,094,670 | $23,987,399 |
The Center For Collaborative Research Inc Houston, TX | $142,938,649 | $16,860,442 |