Sierra Electric Cooperative Education Foundation
- Assets
- $719.9k
- Revenue
- $82.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Elephant Butte, NM
- Founding
- 07/1987
- Data as of
- 12/2023
- EIN
- 85-0352648
Organization Overview
Sierra Electric Cooperative Education Foundation is located in Elephant Butte, NM. The organization was established in 1987. 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. Sierra Electric Cooperative 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 12/2023, Sierra Electric Cooperative Education Foundation generated $82.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $44.2k during the year ending 12/2023. While expenses have increased by 6.5% per year over the past 5 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 2020, Sierra Electric Cooperative Education Foundation has awarded 51 individual grants totaling $134,000. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS TO ACTIVE MEMBERS, IMMEDIATE FAMILY OF ACTIVE MEMBERS, IMMEDIATE FAMILY OF EMPLOYEES OF SIERRA ELECTRIC COOPERATIVE, AND PERSONS WHO RESIDE IN THE SERVICE AREA OF SIERRA ELECTRIC COOPERATIVE AND UTILIZE THE ELECTRIC POWER OF SIERRA ELECTRIC COOPERATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darryl Sullivan President | 1 | $0 | |
Raymond Ruffini Vice President | 1 | $0 | |
George Biel Treasurer | 1 | $0 | |
Tami Garrett Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $59,670 |
| Interest on Savings | $2,988 |
| Dividends & Interest | $11,866 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,717 |
| Capital Gain Net Income | $7,717 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $82,241 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,150 |
| Contributions, gifts, grants paid | $43,000 |
| Total expenses and disbursements | $44,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $719,855 |
| Net Accounts receivable | $0 |
| 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 | $719,855 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Sierra Electric Cooperative Education Foundation has awarded $43,000 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ALICIA GONZALES PURPOSE: SCHOLARSHIP | $3,000 |
ALISON WASILOWSKI PURPOSE: SCHOLARSHIP | $3,000 |
COLTON MONTOYA PURPOSE: SCHOLARSHIP | $3,000 |
CONNER ROBERTS PURPOSE: SCHOLARSHIP | $3,000 |
CRAVENOCK MOKENA PURPOSE: SCHOLARSHIP | $3,000 |
DAWSON GURULE PURPOSE: SCHOLARSHIP | $2,000 |