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← MORA-SAN MIGUEL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by MORA-SAN MIGUEL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$13,330,751
Total expenses
$13,272,273
Contributions and grants received
$0
Grants paid
$10,450
Program service revenue
$13,247,683
Investment income
$21,989
Other revenue
$61,079
Total assets, end of year
$38,090,213
Total liabilities, end of year
$26,755,865
Net assets or fund balances, end of year
$11,334,348
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALES OF ELECTRICITY

    total $12,950,019 · related or exempt $12,950,019

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $231,242 · related or exempt $231,242

  • 2c · Program service revenue: SERVICE FEES

    total $48,446 · related or exempt $48,446

  • 2d · Program service revenue: RENEWABLE ENERGY CERTIFICATES

    total $17,976 · related or exempt $17,976

  • 3 · Investment income

    total $21,989 · excluded $21,989

  • 10a · Gross sales of inventory

    $36,489

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $36,489 · related or exempt $36,489

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $24,590 · excluded $24,590

  • 11e · Other revenue, total

    $24,590

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,450

  • 4 · Benefits paid to or for members

    total $218,140

  • 5 · Compensation of officers, directors and key employees

    total $212,212

  • 7 · Other salaries and wages

    total $1,432,397

  • 8 · Pension plan contributions

    total $111,074

  • 9 · Other employee benefits

    total $301,103

  • 10 · Payroll taxes

    total $114,067

  • 20 · Interest

    total $997,753

  • 22 · Depreciation, depletion and amortization

    total $1,310,293

  • 24a · Other expenses: PURCHASED POWER

    total $6,947,756

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $628,097

  • 24c · Other expenses: ADMIN & GENERAL EXPENSE

    total $613,547

  • 24d · Other expenses: CONSUMER EXPENSES

    total $370,806

  • 24e · All other expenses

    total $4,578

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,622,122 · end of year $5,523,707

  • 2 · Savings and temporary cash investments

    beginning of year $481,995 · end of year $492,987

  • 4 · Accounts receivable

    beginning of year $1,443,354 · end of year $1,295,945

  • 8 · Inventories for sale or use

    beginning of year $1,375,775 · end of year $1,391,563

  • 9 · Prepaid expenses and deferred charges

    beginning of year $68,333 · end of year $66,026

  • 10a · Land, buildings and equipment: cost or other basis

    $46,915,648

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,756,531

  • 10c · Land, buildings and equipment, net

    beginning of year $24,590,702 · end of year $23,159,117

  • 13 · Investments: program-related

    beginning of year $5,263,922 · end of year $5,420,277

  • 15 · Other assets

    beginning of year $730,765 · end of year $740,591

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,944,623 · end of year $2,534,218

  • 23 · Secured mortgages and notes payable

    beginning of year $21,993,208 · end of year $22,545,904

  • 25 · Other liabilities

    beginning of year $1,584,582 · end of year $1,675,743

  • 29 · Capital stock, trust principal or current funds

    beginning of year $71,830 · end of year $73,520

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,982,725 · end of year $11,260,828

Mission and programs · 2023

Mission

TO IMPROVE THE LIVES OF ITS MEMBER OWNERS, WHILE INVESTING IN OUR COMMUNITIES, WE DELIVER SAFE, RELIABLE AND AFFORDABLE ELECTRICITY WITH A FOCUS ON EXCELLENT MEMBER SERVICE, AND CLEAN RENEWABLE ENERGY.

Activities or mission (Part I)

TO PROVIDE THE HIGHEST LEVEL OF ELECTRICAL SERVICE CONSISTENT WITH EFFICIENT AND SOUND PRINCIPLES.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 11,359 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Robert Baca

    PRESIDENT

    Total calculated
    $2,850
    From this org
    $2,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Joseph C De Baca

    TRUSTEE

    Total calculated
    $5,139
    From this org
    $5,139
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • Virginia Mondragon

    SECRETARY/TREASURER

    Total calculated
    $4,300
    From this org
    $4,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • James Ortiz

    VICE PRESIDENT

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.2

  • Samuel A Ramirez

    TRUSTEE

    Total calculated
    $6,950
    From this org
    $6,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3

  • Leslie Montoya

    CEO/GENERAL MANAGER

    Total calculated
    $184,723
    From this org
    $148,486
    From related orgs
    $0
    Other
    $36,237
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,766
    Bonus
    $7,600
    Other
    $1,120
    Deferred
    $17,538
    Nontaxable benefits
    $18,699
    Filer's total
    $184,723

  • Martin Terran Zubia

    WORKING FOREMAN

    Total calculated
    $146,374
    From this org
    $115,581
    From related orgs
    $0
    Other
    $30,793
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MORA-SAN MIGUEL ELECTRIC FOUNDATION INC

    501(C)(3) · TO PROVIDE COLLEGE SCHOLARSHIPS TO ACTIVE MEMBERS AND THEIR FAMILY. · NM · controlled entity

    Directly controlled by MORA-SAN MIGUEL ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413189349309626

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