Overview
What is Lea County Electric Cooperative Inc?
Lea County Electric Cooperative Inc is a community-focused nonprofit organization based in Lovington, New Mexico. Their primary mission is to provide electric energy to rural areas at a cooperative cost. With a total of 85 employees, they allocate patronage capital to sell electric power to their 16,295 members at year end. Lea County Electric Cooperative strives to be innovative and environmentally friendly, making a significant contribution to the local community.
Official website here: www.lcecnet.com
What are the reviews and ratings of this charity?
Lea County Electric Cooperative Inc does not have a current rating from Charity Navigator due to its classification. The organization is not a 501(c)(3) IRS registered nonprofit, which is why it cannot be evaluated using Charity Navigator's standard methodologies like Accountability & Finance, Impact & Measurement, Leadership & Adaptability, or Culture & Community.
The absence of a Charity Navigator rating should not be seen as an indication of the organization's performance, positively or negatively. Instead, it highlights the limitations in evaluating entities that fall outside the specific criteria for 501(c)(3) status. As a cooperative, it operates independently and may have other assessment standards tied to its cooperative status rather than as a charitable entity.
No additional user reviews from GreatNonprofits are available, leaving a gap in peer feedback for community insight. This insight might reflect on public interaction or satisfaction from direct stakeholders such as members or users of cooperative services.
This AI summary has been generated from information found on Charity Navigator.
Is Lea County Electric Cooperative Inc legitimate?
Lea County Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lea County 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 tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $837,670
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,932,931
For more financial information, click here
Official website here: www.lcecnet.com
What is the mission statement of Lea County Electric Cooperative Inc?
Lea County Electric Cooperative Inc is a community-focused cooperative that strives for innovation and environmental friendliness. Its primary mission is to provide electric energy to rural areas at a cooperative cost. The cooperative allocates patronage capital, selling electric power to its members at cost. With 16,295 connected members at year end, Lea County Electric Cooperative works to bring affordable electricity to its community. It is dedicated to delivering electricity in a responsible and sustainable manner, ensuring reliability and efficiency. The cooperative's commitment to its members goes beyond just power supply, as it also seeks to contribute positively to the local community.
Official website here: www.lcecnet.com
Who is the CEO of Lea County Electric Cooperative Inc?
Bobby Ferris is the Secretary/Treasurer of Lea County Electric Cooperative Inc.
Official website here: www.lcecnet.com
What is the revenue of Lea County Electric Cooperative Inc?
Lea County Electric Cooperative Inc's revenue in 2022 was $119,152,075.
Official website here: www.lcecnet.com
Who are the executives of Lea County Electric Cooperative Inc and what are their salaries?
The average compensation at Lea County Electric Cooperative Inc during 2022 was $56,125. There are 85 employees at Lea County Electric Cooperative Inc.
Here are 15 key members and their salaries:
- Compensation: $22,224
- Related: $0
- Other: $0
- Compensation: $21,921
- Related: $0
- Other: $0
- Compensation: $21,921
- Related: $0
- Other: $0
- Compensation: $24,490
- Related: $0
- Other: $0
- Compensation: $24,321
- Related: $0
- Other: $0
- Compensation: $20,934
- Related: $0
- Other: $0
- Compensation: $19,949
- Related: $0
- Other: $0
- Compensation: $22,521
- Related: $0
- Other: $0
- Compensation: $27,485
- Related: $0
- Other: $0
- Compensation: $453,508
- Related: $0
- Other: $178,396
- Compensation: $207,006
- Related: $0
- Other: $32,800
- Compensation: $169,821
- Related: $0
- Other: $73,993
- Compensation: $156,426
- Related: $0
- Other: $50,971
- Compensation: $148,929
- Related: $0
- Other: $58,631
- Compensation: $134,882
- Related: $0
- Other: $82,432
Official website here: www.lcecnet.com
Where can I find the form 990 for Lea County Electric Cooperative Inc?
Lea County Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lcecnet.com
Learn more at the official website: www.lcecnet.com
Mission Statement of Lea County Electric Cooperative Inc
Lea County Electric Cooperative Inc, a community-focused cooperative, is dedicated to providing electric energy to rural areas at a cost-effective price. The cooperative's mission is to allocate patronage capital for the sale of electric power to its members on a cooperative basis. At the end of the year, the cooperative had connected 16,295 members to its electric services.
Lea County Electric Cooperative Inc strives to be innovative and eco-friendly in its operations. It is more than just a power provider; it is a forward-thinking organization that cares for its members and the environment. By offering electric power at a cost that benefits all members, Lea County Electric Cooperative Inc fosters a sense of community and collaboration among its subscribers. Its commitment to innovation ensures that it keeps up with technological advancements and adapts to the evolving energy landscape. Furthermore, its eco-friendly approach means that the cooperative prioritizes the use of sustainable energy sources and practices, making it a responsible partner in the energy sector.
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Impact
October, 2024
Lea County Electric Cooperative Inc plays a vital role in delivering electric energy to rural communities, fulfilling a crucial need for reliable power in these areas. With a membership of 16,295 connected members, it operates on a cooperative basis, ensuring that electricity is provided at cost. This approach not only promotes affordability but also allows for the equitable allocation of patronage capital, benefiting its members directly.
The cooperative emphasizes innovation and environmental responsibility, aligning its operations with community needs and sustainable practices. By focusing on these principles, Lea County Electric fosters a strong sense of community engagement and works to enhance the quality of life in Lovington, NM, and surrounding areas. Through its commitment to serving its members and the environment, Lea County Electric Cooperative contributes significantly to the social and economic fabric of the region.
This information is meant to be a general summary of Lea County Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: -$673,557
- Program Service Revenue: $119,659,698
- Gross Receipts: $119,255,599
Assets and Liabilities:
- Total Assets: $256,477,710
- Total Liabilities: $154,720,589
- Net Assets: $101,757,121
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$117,029,377
PATRONAGE DIVIDENDS
Revenue
$2,476,147
SERVICE FEES
Revenue
$153,974
OTHER PROGRAM REVENUE
Revenue
$200
Organization Details
Founding Year
1949
Phone
(575) 396-3631Principal Officer
Bobby Ferris
Main Address
PO BOX 1447, LOVINGTON, NM, 882601447
Website
www.lcecnet.comNTEE Category
Code: W80 - Public benefit
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