NEW MEXICO RURAL ELECTRIC COOPERAT… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1954

Legal Domicile

Principal Officer

TIMOTHY MORROW

Phone

5059824671

Tax Period

2023-01-01 to 2023-12-31

NEW MEXICO RURAL ELECTRIC COOPERATIVE ASSOCIATION INC, founded in 1954, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF THE NEW MEXICO RURAL ELECTRIC COOPERATIVES (NMREC) IS TO ADVANCE PROTECT AND ADVOCATE MEMBER INTERESTS.

Program Service Accomplishments

Program 1

PROVIDING EDUCATION, PERSONAL TRAINING AND ADVOCACY FOR 15 NEW MEXICO ELECTRIC COOPERATIVES, 2 GENERATION AND TRANSMISSION COOPERATIVES, AND 3 RURAL ELECTRIC DISTRIBUTION COOPERATIVE ASSOCIATE...

PROVIDING EDUCATION, PERSONAL TRAINING AND ADVOCACY FOR 15 NEW MEXICO ELECTRIC COOPERATIVES, 2 GENERATION AND TRANSMISSION COOPERATIVES, AND 3 RURAL ELECTRIC DISTRIBUTION COOPERATIVE ASSOCIATE MEMBERS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $29,500

Program Service Revenue $2,193,213

Investment Income $135

Other Revenue $95,404

TOTAL REVENUE $2,318,252

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $1,037,300

Fundraising Expenses $0

Other Expenses $1,297,424

TOTAL EXPENSES $2,340,724

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,318,252	$2,014,147	+0.2%
Expenses	$2,340,724	$2,207,785	+0.1%
Net Income	$-22,472	$-193,638	-0.9%

Key Indicators

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

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$256,636

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY MORROW	PRESIDENT	5.00	Officer Director	$0	$0	$0
CHARLES WAGNER	VICE PRESIDENT	7.00	Officer Director	$0	$0	$0
DUANE FROST	SECRETARY/TREASURER	5.00	Officer Director	$0	$0	$0
CHRIS MARTINEZ	TRUSTEE	1.00	Director	$0	$0	$0
KEITH GOTTLIEB	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES T PINSON JR	TRUSTEE	3.00	Director	$0	$0	$0
THOMAS RIVAS	TRUSTEE	3.00	Director	$0	$0	$0
PRESTON STONE	TRUSTEE	4.60	Director	$0	$0	$0
ANTONIO SANCHEZ	TRUSTEE	3.00	Director	$0	$0	$0
GENE CREIGHTON	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE BIEL	TRUSTEE	5.00	Director	$0	$0	$0
WAYNE CONNELL	TRUSTEE	1.00	Director	$0	$0	$0
BOBBY FERRIS	TRUSTEE	1.00	Director	$0	$0	$0
JUDITH HOLCOMB	TRUSTEE	1.00	Director	$0	$0	$0
JAMES ORTIZ	TRUSTEE	2.00	Director	$0	$0	$0
MANUEL BUSTOS	TRUSTEE	1.00	Director	$0	$0	$0
JOE REESER	TRUSTEE	8.00	Director	$0	$0	$0
CHARISE SWANSON	CEO & GENERAL MANAGER	60.00	Officer	$219,876	$36,760	$256,636

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	$2,318,252	$2,340,724	$572,887	$-22,472
2022	$2,014,147	$2,207,785	$552,094	$-193,638
2021	$1,814,637	$1,778,721	$642,696	$35,916
2020	$1,904,194	$1,861,848	$659,270	$42,346
2019	$1,900,051	$1,929,329	$630,916	$-29,278
2018	$1,950,988	$1,930,290	$764,448	$20,698

NEW MEXICO RURAL ELECTRIC COOPERATIVE ASSOCIATION INC