RIO GRANDE ELECTRIC COOP INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1945

Legal Domicile

Principal Officer

THERESA QUIROZ

Phone

8305632444

Tax Period

2023-01-01 to 2023-12-31

RIO GRANDE ELECTRIC COOP INC, founded in 1945, is a mid-sized nonprofit that reported $88.2M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum.

Mission

RGEC IS COMMITTED TO PROVIDING SAFE AND RELIABLE ENERGY SERVICES THROUGH THE EFFICIENT USE OF RESOURCES, HIGHLY SKILLED EMPLOYEES, AND TECHNOLOGY.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 7,218 MEMBERS OVER 10,044 MILES OF LINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $85,270,627

Investment Income $2,730,926

Other Revenue $155,982

TOTAL REVENUE $88,157,535

Expense Breakdown

Grants Paid $60,577

Salaries & Benefits $1,039,390

Fundraising Expenses $0

Other Expenses $77,445,139

TOTAL EXPENSES $87,263,311

Year-over-Year Comparison

	2023	2022	Change
Revenue	$88,157,535	$68,662,704	+0.3%
Expenses	$87,263,311	$67,692,696	+0.3%
Net Income	$894,224	$970,008	-0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

196

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,087,148

Total Directors

$126,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM EDWARDS	PRESIDENT	3.50	Officer Director	$10,900	$0	$10,900
WILLIAM FOSTER	VICE PRESIDENT	4.50	Officer Director	$12,450	$0	$12,450
PRISCILLA PARSONS	SECRETARY	5.10	Officer Director	$10,400	$0	$10,400
JAMIE BALLEW	TREASURER	4.30	Officer Director	$10,800	$0	$10,800
JAN METCALF	DIRECTOR	1.80	Director	$8,400	$0	$8,400
HOWARD WAKEFIELD JR	DIRECTOR	3.80	Director	$10,150	$0	$10,150
MARGARITA E NELSON	DIRECTOR	3.70	Director	$10,300	$0	$10,300
ROWDY HOLMSLEY	DIRECTOR (UNTIL 09/2023)	2.60	Director	$6,400	$0	$6,400
MARK DAUGHERTY	DIRECTOR	4.10	Director	$10,400	$0	$10,400
BRYON GARRISON	DIRECTOR	5.60	Director	$12,850	$0	$12,850
GRANT SPENCE	DIRECTOR	2.60	Director	$11,200	$0	$11,200
HOWARD IVY	DIRECTOR	2.20	Director	$8,650	$0	$8,650
SUSANA PEREZ	DIRECTOR (BEG 11/2023)	2.00	Director	$1,450	$0	$1,450
DAMON HARRISON	DIRECTOR (BEG 11/2023)	2.70	Director	$2,250	$0	$2,250
THERESA QUIROZ	CEO	44.10	Officer	$247,734	$107,233	$354,967
LARRY POWELL	CHIEF DEVELOPMENT OFFICER	46.70	Officer	$140,917	$113,544	$254,461
MARTHA GERARDO	CHIEF HR OFFICER	42.60	Officer	$147,582	$68,295	$215,877
CONRAD DALTON	CHIEF TECHNICAL OFFICER	43.00	Officer	$141,568	$75,725	$217,293
JAIME RAMIREZ	JOURNEYMAN LINE FOREMAN	51.50	Highest	$129,080	$80,040	$209,120
JOSHUA HITE	JOURNEYMAN LINEMAN	56.10	Highest	$126,742	$21,202	$147,944
JESUS RODRIGUEZ	JOURNEYMAN LINE FOREMAN	53.20	Highest	$124,583	$55,060	$179,643
STEVE WRIGHT	SENIOR OPERATIONS MANAGER	41.00	Highest	$126,921	$115,941	$242,862
GILBERTO VILLARREAL	JOURNEYMAN LINEMAN	53.90	Highest	$135,714	$62,308	$198,022

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$88,157,535	$87,263,311	$223,780,436	$894,224
2022	$68,662,704	$67,692,696	$208,802,297	$970,008
2021	$60,336,045	$60,336,045	$196,163,042	No data
2020	$59,786,421	$59,786,421	$175,640,103	No data
2019	$60,562,956	$60,562,956	$168,087,938	No data
2018	$54,327,898	$54,327,898	$149,146,982	No data