NORTHERN NEW MEXICO IEC

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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

1982

Legal Domicile

Principal Officer

GARRETT D HENNESSY

Phone

5052666458

Tax Period

2024-01-01 to 2024-12-31

NORTHERN NEW MEXICO IEC, founded in 1982, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $429K, a strong 31% operating margin.

Mission

To enhance the ind. electrical contractors success by developing a professional workforce, communicating clearly with government, promoting ethical business practices and providing leadership for the electrical industry

Program Service Accomplishments

Program 1

Expenses: $515,698

Provided electrical apprentices with education and training in order to become licensed electricians, graduated 27 apprentices in 2024

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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 (2024)

Revenue Breakdown

Contributions & Grants $510,945

Program Service Revenue $859,748

Investment Income $40

Other Revenue $0

TOTAL REVENUE $1,370,733

Expense Breakdown

Grants Paid $0

Salaries & Benefits $505,491

Fundraising Expenses $0

Program Expenses $515,698

Other Expenses $435,851

TOTAL EXPENSES $941,342

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,370,733	$1,105,566	+0.2%
Expenses	$941,342	$1,024,569	-0.1%
Net Income	$429,391	$80,997	+4.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATHER WALSTROM	PRESIDENT	005.00	Director	$0	$0	$0
DON ARAGON	VICE PRESIDENT	001.00	Director	$0	$0	$0
MATT HERRERA	MEMBER	001.00	Director	$0	$0	$0
DAVE CAFFREY	TREASURER	001.00	Director	$0	$0	$0
KEVIN HANNIGAN	SECRETARY	001.00	Director	$0	$0	$0
SEAN BENAVIDEZ	MEMBER	001.00	Director	$0	$0	$0
GARRETT HENNESSY	EXEC DIRECTOR	040.00	Director Key Emp	$0	$0	$0
KURT FORSBERG	MEMBER	001.00	Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$1,370,733	$941,342	$3,739,088	$429,391
2023	$1,105,566	$1,024,569	$3,379,713	$80,997
2022	$861,915	$895,991	$2,648,635	$-34,076
2021	$804,195	$792,973	$1,927,556	$11,222
2020	$754,305	$701,659	$1,836,695	$52,646
2019	$919,926	$820,192	$1,784,379	$99,734
2018	$966,062	$781,494	$1,681,888	$184,568