SOCORRO ELECTRIC COOPERATIVE INC (EIN 850084968) - 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

1945

Legal Domicile

Principal Officer

JOSEPH HERRERA

Phone

5758350560

Tax Period

2023-01-01 to 2023-12-31

SOCORRO ELECTRIC COOPERATIVE INC, founded in 1945, is a mid-sized nonprofit that reported $25.7M in total revenue in fiscal year 2023.

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 $25,412,429

Investment Income $210,929

Other Revenue $60,958

TOTAL REVENUE $25,684,316

Expense Breakdown

Grants Paid $500

Salaries & Benefits $2,667,057

Fundraising Expenses $0

Other Expenses $22,036,559

TOTAL EXPENSES $25,617,683

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,684,316	$24,844,761	+0.0%
Expenses	$25,617,683	$24,825,374	+0.0%
Net Income	$66,633	$19,387	+2.4%

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

$473,789

Total Directors

$37,984

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES NELSON	PRESIDENT (JAN-APRIL)	12.70	Officer Director	$2,219	$0	$2,219
LEROY ANAYA	PRESIDENT	21.00	Officer Director	$10,321	$0	$10,321
LUIS AGUILAR	VICE PRESIDENT (JAN-APRIL)	5.40	Officer Director	$1,292	$0	$1,292
RONALD BURNETT	VICE PRESIDENT	5.80	Officer Director	$5,397	$0	$5,397
DONALD WOLBERG	SECRETARY/TREASURER (JAN-JULY)	1.00	Officer Director	$3,231	$0	$3,231
JUDITH HOLCOMB	SECRETARY/TREASURER (APRIL-NOV)	1.00	Officer Director	$5,502	$0	$5,502
STEPHEN ROSAS	SECRETARY/TREASURER (AUG-DEC)	5.50	Officer Director	$2,075	$0	$2,075
MICHAEL BOWDEN	TRUSTEE (APRIL-DEC)	3.00	Director	$2,529	$0	$2,529
WARD MCCARTNEY III	TRUSTEE	2.00	Director	$1,001	$0	$1,001
DAVID WADE	TRUSTEE	5.30	Director	$4,417	$0	$4,417
JOSEPH HERRERA	CEO/GENERAL MANAGER	68.50	Officer	$209,282	$65,905	$275,187
JIMMY W CAPPS JR	CFO	45.00	Officer	$115,828	$52,737	$168,565
DAVID MONTOYA	SAFETY COOR./LINE SUPER.	40.00	Highest	$117,944	$50,779	$168,723
TONY LOPEZ	LEAD LINE FOREMAN	40.00	Highest	$136,239	$50,398	$186,637
DANIEL CHAVEZ	LINE FOREMAN	40.00	Highest	$105,415	$37,880	$143,295
ERNEST TORRES	LINE FOREMAN	40.00	Highest	$110,839	$29,809	$140,648
JAMES LIZER	LINE FOREMAN	40.00	Highest	$104,485	$52,267	$156,752

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	$25,684,316	$25,617,683	$82,679,369	$66,633
2022	$24,844,761	$24,825,374	$82,005,802	$19,387
2021	$25,079,348	$25,111,953	$80,643,837	$-32,605
2020	$25,472,431	$25,401,442	$80,324,811	$70,989
2019	$26,611,473	$26,654,081	$73,889,888	$-42,608
2018	$26,760,713	$26,776,161	$74,772,690	$-15,448

SOCORRO ELECTRIC COOPERATIVE INC