Overview
What is Socorro Electric Cooperative Inc?
Socorro Electric Cooperative Inc, located in Socorro, New Mexico, is a nonprofit organization dedicated to providing electric energy to its members on a cooperative basis. With 13,085 active services at the year end, they allocate patronage capital to ensure affordable and reliable electricity. Their mission is to make electric energy available to members at the most economical price. The cooperative employs a team of 46 individuals, and their core activity revolves around delivering high-quality electric services to the community.
Official website here: www.socorroelectric.com
Is Socorro Electric Cooperative Inc legitimate?
Socorro Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Socorro Electric Cooperative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $482,440
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,529,145
For more financial information, click here
What is the mission statement of Socorro Electric Cooperative Inc?
The Socorro Electric Cooperative Inc is dedicated to providing quality and reliable electric service to its cooperative members. This organization strives to make electric energy accessible to its members at the most affordable cost, consistent with sound economy and good management. The Socorro Electric Cooperative Inc operates on a cooperative basis, with a focus on allocating patronage capital for the provision of electric energy to its community. At the end of the year, there were 13,085 active services being provided by the cooperative.
Official website here: www.socorroelectric.com
Who is the CEO of Socorro Electric Cooperative Inc?
Joseph Herrera is the Trustee of Socorro Electric Cooperative Inc. The CEO's salary of Socorro Electric Cooperative Inc is $196,078 and their total compensation is $276,323.
Official website here: www.socorroelectric.com
What is the revenue of Socorro Electric Cooperative Inc?
Socorro Electric Cooperative Inc's revenue in 2022 was $24,844,761.
Official website here: www.socorroelectric.com
Who are the executives of Socorro Electric Cooperative Inc and what are their salaries?
The average compensation at Socorro Electric Cooperative Inc during 2022 was $43,730. There are 46 employees at Socorro Electric Cooperative Inc.
Here are 16 key members and their salaries (Socorro Electric Cooperative Inc's CEO's salary is $196,078 and their total compensation is $276,323):
- Joseph Herrera (Ceo/General Manager)
- Tony Lopez (Lead Line Foreman)
- Jimmy W Capps Jr (Cfo)
- David Montoya (Safety Coor./Line Super.)
- Ernest Torres (Line Foreman)
- Steven B Dettmer (Line Superintendent)
- Donald Wolberg (Secretary/Treasurer) [Trustee/Director]
- Leroy Anaya (Trustee)
- James Nelson (President) [Trustee/Director]
- Dave Wade April-Dec (Trustee)
- Luis Aguilar (Vice President) [Trustee/Director]
- Paul Bustamante Jan-April (Trustee)
- Ronald Burnett May-Dec (Trustee)
- Ward Mccartney Iii April-Dec (Trustee)
- Michael Hawkes Jan-April (Trustee)
- Anne Dorough Jan (Trustee)
Official website here: www.socorroelectric.com
Where can I find the form 990 for Socorro Electric Cooperative Inc?
The Socorro Electric Cooperative Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.socorroelectric.com
Learn more at the official website: www.socorroelectric.com
Mission Statement of Socorro Electric Cooperative Inc
Socorro Electric Cooperative Inc is a mission-driven organization that strives to make electric energy accessible to its members at the most affordable cost. The cooperative's primary goal is to ensure the delivery of reliable and quality electric service to its community of members.
Established with the aim of promoting sound economy and good management, Socorro Electric Cooperative Inc operates on a cooperative basis. This means that the organization allocates patronage capital to provide electric energy to its members. The cooperative's commitment to its members is reflected in the 13,085 active services it provided at the end of the previous year.
In essence, Socorro Electric Cooperative Inc is a dedicated provider of electric energy to its cooperative members. It is driven by its mission to make electric energy available to its members at the lowest possible cost, all while maintaining sound economic practices and good management. By focusing on the cooperative model, Socorro Electric Cooperative Inc is able to prioritize its members' needs and deliver reliable electric service to them.
Impact
This information is meant to be a general summary of Socorro Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Socorro Electric Cooperative Inc plays a vital role in providing quality and reliable electric service to its members in Socorro, New Mexico. With 13,085 active services at year end, the cooperative ensures that its members have access to essential electricity in a cost-effective manner. By operating on a cooperative basis and allocating patronage capital, Socorro Electric Cooperative Inc contributes to the overall well-being and development of the community by meeting their energy needs efficiently. Their mission emphasizes making electric energy available to members at the lowest cost possible while maintaining sound economy and good management practices. This commitment to public benefit underscores the cooperative's positive impact on the local area.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$24,220,365
PATRONAGE DIVIDENDS
Revenue
$187,261
SERVICE FEES
Revenue
$72,662
Organization Details
Founding Year
1945
Phone
(575) 835-0560
Principal Officer
Joseph Herrera
Main Address
PO BOX H, SOCORRO, NM, 87801
Website
www.socorroelectric.com
NTEE Category
Code: W80 - Public benefit
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