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Nonprofit · EIN 85-0084968

SOCORRO ELECTRIC COOPERATIVE INC

Tax-exempt · SOCORRO, NM 87801

Financials

$25.7M$25.6M2023$27.3M$27.2M2024
Revenue Expenses · by fiscal year end
Financials of SOCORRO ELECTRIC COOPERATIVE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$27,251,737$27,248,802$2,935$100,278,797$66,261,844$34,016,953
December 31, 2023990$25,684,316$25,617,683$66,633$82,679,369$49,521,616$33,157,753
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$26,925,758
Investment income
$167,590
Net gain from sales of assets
$1,278
Other revenue
$158,389

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$891,929
Compensation of officers, directors and key employees
$657,990
Other salaries and wages
$1,607,180
Salaries, compensation and benefits (total)
$3,119,958
Professional fundraising fees
$0
Depreciation
$2,688,602

Balance sheet and other

Total assets, start of year
$82,679,369
Total assets, end of year
$100,278,797
Total liabilities, end of year
$66,261,844
Net assets, end of year
$34,016,953
Land, buildings and equipment
$72,526,609
Gross receipts
$27,251,737
Employees
48
Volunteers
0
Year formed
1945
State of legal domicile
NM

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JOSEPH HERRERACEO/GENERAL MANAGER
Officer
60$238,840$54,821
TONY LOPEZLEAD LINE FOREMAN
Highest-paid employee
45$122,768$55,506
JIMMY W CAPPS JRCFO
Officer
45$119,778$57,752
DAVID MONTOYASAFETY COOR./LINE SUPER.
Highest-paid employee
40$106,772$54,432
DONNA WILKINSINTERIM CEO/GM
Officer
40$114,697$38,645
GLENN CALVERTJOURNEYMAN LINEMAN
Highest-paid employee
51$105,686$45,877
ERNEST TORRESJOURNEYMAN FOREMAN
Highest-paid employee
48$113,082$32,232
JASON OTEROLINE SUPERINTENDENT
Highest-paid employee
41$117,824$26,135
LEROY ANAYAPRESIDENT
Trustee or director, Officer
21.7$9,432$0
EILEEN LATASASECRETARY/TREASURER
Trustee or director, Officer
7.1$8,143$0
STEPHEN ROSASTRUSTEE
Trustee or director
2.6$5,422$0
RONALD BURNETTVICE PRESIDENT
Trustee or director, Officer
5.8$4,119$0
MICHAEL BOWDENTRUSTEE
Trustee or director
1.3$2,925$0
DAVID LYN WADETRUSTEE (JULY-DEC)
Trustee or director
1.7$1,959$0
DAVID WADETRUSTEE (JAN-JUNE)
Trustee or director
0.9$1,457$0
1 more people on this return
NameTitleHours / weekCompensation
WARD MCCARTNEY IIITRUSTEE
Trustee or director
1.5$0
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensationOther / benefits
JOSEPH HERRERACEO/GENERAL MANAGER
Officer
68.5$209,282$65,905
TONY LOPEZLEAD LINE FOREMAN
Highest-paid employee
40$136,239$50,398
DAVID MONTOYASAFETY COOR./LINE SUPER.
Highest-paid employee
40$117,944$50,779
JIMMY W CAPPS JRCFO
Officer
45$115,828$52,737
JAMES LIZERLINE FOREMAN
Highest-paid employee
40$104,485$52,267
DANIEL CHAVEZLINE FOREMAN
Highest-paid employee
40$105,415$37,880
ERNEST TORRESLINE FOREMAN
Highest-paid employee
40$110,839$29,809
LEROY ANAYAPRESIDENT
Trustee or director, Officer
21$10,321$0
JUDITH HOLCOMBSECRETARY/TREASURER (APRIL-NOV)
Trustee or director, Officer
1$5,502$0
RONALD BURNETTVICE PRESIDENT
Trustee or director, Officer
5.8$5,397$0
DAVID WADETRUSTEE
Trustee or director
5.3$4,417$0
DONALD WOLBERGSECRETARY/TREASURER (JAN-JULY)
Trustee or director, Officer
1$3,231$0
MICHAEL BOWDENTRUSTEE (APRIL-DEC)
Trustee or director
3$2,529$0
JAMES NELSONPRESIDENT (JAN-APRIL)
Trustee or director, Officer
12.7$2,219$0
STEPHEN ROSASSECRETARY/TREASURER (AUG-DEC)
Trustee or director, Officer
5.5$2,075$0
LUIS AGUILARVICE PRESIDENT (JAN-APRIL)
Trustee or director, Officer
5.4$1,292$0
WARD MCCARTNEY IIITRUSTEE
Trustee or director
2$1,001$0

Address and contacts

Address (IRS master file)
PO BOX H, SOCORRO, NM 87801-0278
Principal officer (990 for 2024)
MANUEL GONZALES, PO BOX H, SOCORRO, NM 87801
Signed the 990
MANUEL GONZALES, CEO
Phone
(575) 835-0560
Return prepared by
BOLINGER SEGARS GILBERT AND MOSS LLP

Mission

IT SHALL BE THE AIM OF THE SOCORRO ELECTRIC COOPERATIVE, INC. TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 13,185 ACTIVE SERVICES AT YEAR END.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
85-0084968
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1953
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$100,278,797
Income (IRS master file)
$27,251,737

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$27,251,737$27,248,802$100,278,797IRS
990December 2023$25,684,316$25,617,683$82,679,369XML
990December 2022$24,844,761$24,825,374$82,005,802IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0084968).

Questions about SOCORRO ELECTRIC COOPERATIVE INC

What is the EIN of SOCORRO ELECTRIC COOPERATIVE INC?
The employer identification number (EIN) of SOCORRO ELECTRIC COOPERATIVE INC is 85-0084968.
Is SOCORRO ELECTRIC COOPERATIVE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1953.
Are donations to SOCORRO ELECTRIC COOPERATIVE INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SOCORRO ELECTRIC COOPERATIVE INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of SOCORRO ELECTRIC COOPERATIVE INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SOCORRO ELECTRIC COOPERATIVE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of SOCORRO ELECTRIC COOPERATIVE INC?
The 990 for the year ended December 31, 2024 names MANUEL GONZALES.
Who are the officers and directors of SOCORRO ELECTRIC COOPERATIVE INC?
The 990 for the year ended December 31, 2024 lists 16 people; 15 received compensation from the organization, the highest $238,840 (JOSEPH HERRERA, CEO/GENERAL MANAGER).
How much revenue does SOCORRO ELECTRIC COOPERATIVE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $27,251,737, expenses of $27,248,802 and total assets of $100,278,797 at year end.

Other nonprofits in SOCORRO

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