FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO (EIN 850036237) - Form 990 Financial Analysis & Trantor Score

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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

1937

Legal Domicile

Principal Officer

ANTONIO SANCHEZ JR

Phone

5757624466

Tax Period

2023-01-01 to 2023-12-31

FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO, founded in 1937, is a mid-sized nonprofit that reported $42.6M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

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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 $42,121,072

Investment Income $468,609

Other Revenue $6,335

TOTAL REVENUE $42,596,016

Expense Breakdown

Grants Paid $15,548

Salaries & Benefits $5,318,941

Fundraising Expenses $0

Other Expenses $33,577,651

TOTAL EXPENSES $42,425,385

Year-over-Year Comparison

	2023	2022	Change
Revenue	$42,596,016	$47,264,526	-0.1%
Expenses	$42,425,385	$46,762,466	-0.1%
Net Income	$170,631	$502,060	-0.7%

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

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

$607,376

Total Directors

$28,034

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL B WEST	PRESIDENT	4.50	Officer Director	$4,516	$0	$4,516
GEORGE DODGE JR	VICE PRESIDENT	4.90	Officer Director	$6,142	$0	$6,142
DONNIE BIDEGAIN	SECRETARY/TREASURER	4.10	Officer Director	$3,142	$0	$3,142
JUBAL PIERCE	DIRECTOR (JAN-NOV)	3.00	Director	$4,457	$0	$4,457
JUDY SMITH	DIRECTOR	3.60	Director	$3,942	$0	$3,942
JUSTIN BARNES	DIRECTOR	2.40	Director	$3,142	$0	$3,142
JOHN PAT WOODS	DIRECTOR	2.30	Director	$2,693	$0	$2,693
ANTONIO SANCHEZ	CEO/GENERAL MANAGER	50.00	Officer	$170,355	$79,844	$250,199
THOMAS J MOORE	DIRECTOR OF MEMBER SERVICES	45.00	Officer	$121,365	$51,179	$172,544
SUZETTE HOWARD	ACCOUNTING MANAGER	45.00	Officer	$116,061	$54,772	$170,833
BARRY T BASS	LINE SUPERINTENDENT	50.00	Highest	$121,225	$103,303	$224,528
MICHAEL L MCCORD	ENGINEERING MANAGER	50.00	Highest	$116,752	$36,201	$152,953
HELEN JO WALLIN	CUSTOMER SERVICE/HR MANAGER	45.00	Highest	$115,606	$42,974	$158,580
KALON LAFFERTY	LINE SUPERINTENDENT	58.00	Highest	$106,763	$18,426	$125,189
TYLER CABELDUE	LINE FOREMAN	58.00	Highest	$101,390	$37,629	$139,019

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	$42,596,016	$42,425,385	$137,801,679	$170,631
2022	$47,264,526	$46,762,466	$137,800,646	$502,060
2021	$42,708,107	$42,053,021	$139,799,971	$655,086
2020	$40,269,820	$40,221,183	$135,828,689	$48,637
2019	$36,959,911	$37,182,341	$122,872,877	$-222,430
2018	$38,327,411	$37,862,370	$116,718,648	$465,041

FARMERS ELECTRIC COOPERATIVE INC OF NEW MEXICO