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← JEMEZ MOUNTAINS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by JEMEZ MOUNTAINS ELECTRIC COOPERATIVE INC.

What the amendment changed

Compared with the return it replaced , filed 15 November 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$50,528,193
Total expenses
$53,920,769
Contributions and grants received
$0
Grants paid
$17,377
Program service revenue
$50,259,992
Investment income
$92,068
Other revenue
$176,133
Total assets, end of year
$130,408,510
Total liabilities, end of year
$70,184,897
Net assets or fund balances, end of year
$60,223,613
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 $49,486,403 · related or exempt $49,486,403

  • 2b · Program service revenue: SERVICE FEES

    total $322,595 · related or exempt $322,595

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $289,379 · related or exempt $289,379

  • 2d · Program service revenue: WHEELING

    total $161,615 · related or exempt $161,615

  • 3 · Investment income

    total $92,775 · excluded $92,775

  • 6a · Gross rents

    real property $4,050

  • 6b · Less rental expenses

    real property $12,572

  • 6c · Rental income or loss

    real property -$8,522

  • 6d · Net rental income or loss

    total -$8,522 · excluded -$8,522

  • 7b · Less cost or other basis and sales expenses

    other assets $707

  • 7c · Gain or loss

    other assets -$707

  • 7d · Net gain or loss

    total -$707 · related or exempt -$707

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $184,655 · excluded $184,655

  • 11e · Other revenue, total

    $184,655

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $17,377

  • 5 · Compensation of officers, directors and key employees

    total $468,913

  • 7 · Other salaries and wages

    total $6,867,428

  • 8 · Pension plan contributions

    total $398,584

  • 9 · Other employee benefits

    total $1,047,283

  • 10 · Payroll taxes

    total $536,444

  • 20 · Interest

    total $2,074,865

  • 22 · Depreciation, depletion and amortization

    total $3,823,677

  • 24a · Other expenses: PURCHASED POWER

    total $29,537,473

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $5,106,313

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $2,380,956

  • 24d · Other expenses: CONSUMER EXPENSE

    total $948,567

  • 24e · All other expenses

    total $712,889

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,207,501 · end of year $3,105,298

  • 2 · Savings and temporary cash investments

    beginning of year $8,034,660 · end of year $988,548

  • 4 · Accounts receivable

    beginning of year $3,523,374 · end of year $3,890,484

  • 7 · Other notes and loans receivable

    beginning of year $182,385 · end of year $178,793

  • 8 · Inventories for sale or use

    beginning of year $2,770,989 · end of year $3,580,586

  • 9 · Prepaid expenses and deferred charges

    beginning of year $384,358 · end of year $647,827

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

    $153,249,131

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

    $68,496,063

  • 10c · Land, buildings and equipment, net

    beginning of year $78,377,580 · end of year $84,753,068

  • 13 · Investments: program-related

    beginning of year $23,293,353 · end of year $23,466,333

  • 15 · Other assets

    beginning of year $9,390,232 · end of year $9,797,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,643,684 · end of year $6,338,005

  • 23 · Secured mortgages and notes payable

    beginning of year $58,476,335 · end of year $61,590,054

  • 25 · Other liabilities

    beginning of year $2,429,234 · end of year $2,256,838

  • 29 · Capital stock, trust principal or current funds

    beginning of year $133,687 · end of year $115,690

  • 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 $63,481,492 · end of year $60,107,923

Mission and programs · 2022

Mission

JEMEZ MOUNTAINS ELECTRIC COOPERATIVE'S VISION IS TO BE THE BEST ELECTRIC COOPERATIVE IN NEW MEXICO, BASED ON PRICE CUSTOMER SERVICE, AND RELIABILITY THROUGH WHICH WE ENHANCE THE QUALITY OF LIFE FOR THE COMMUNITIES WE SERVE.

Activities or mission (Part I)

TO PROVIDE RELIABLE AND AFFORDABLE POWER THROUGHOUT SERVICE AREAS ON A COOPERATIVE BASIS.

  • SALE OF ELECTRIC ENERGY TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 31,658 ACTIVE SERVICES AT YEAR END.

As filed on the 2022 return.

Listed in Part VII

  • Dennis Trujillo

    PRESIDENT

    Total calculated
    $12,582
    From this org
    $12,582
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.7 + 1 related

  • Manuel Bustos

    VICE PRESIDENT

    Total calculated
    $13,068
    From this org
    $13,068
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.3 + 1 related

  • John Ramon Vigil

    SECRETARY

    Total calculated
    $10,782
    From this org
    $10,782
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.8 + 1 related

  • Dolores McCoy

    TREASURER

    Total calculated
    $9,277
    From this org
    $9,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.7 + 1 related

  • Marcelina Martinez

    TRUSTEE

    Total calculated
    $9,972
    From this org
    $9,972
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.9 + 1 related

  • Elias Coriz

    TRUSTEE

    Total calculated
    $8,957
    From this org
    $8,957
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.8 + 1 related

  • Bruce Duran

    TRUSTEE

    Total calculated
    $6,573
    From this org
    $6,573
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.9 + 1 related

  • Dennis Gallegos

    TRUSTEE

    Total calculated
    $6,573
    From this org
    $6,573
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8 + 1 related

  • Lucas Cordova Jr

    TRUSTEE

    Total calculated
    $9,143
    From this org
    $9,143
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4 + 1 related

  • Stanley Crawford

    ASST. SECRETARY/TREASURER

    Total calculated
    $7,695
    From this org
    $7,695
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.9 + 1 related

  • Marissa Maestas-Muller

    TRUSTEE

    Total calculated
    $6,573
    From this org
    $6,573
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2 + 1 related

  • Michael Hastings

    GENERAL MANAGER/CEO

    Total calculated
    $194,084
    From this org
    $176,111
    From related orgs
    $0
    Other
    $17,973
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $162,676
    Bonus
    $0
    Other
    $13,435
    Deferred
    $14,374
    Nontaxable benefits
    $3,599
    Filer's total
    $194,084

  • Dennis G Astley

    ASSISTANT GENERAL MANAGER

    Total calculated
    $173,634
    From this org
    $154,235
    From related orgs
    $0
    Other
    $19,399
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $142,561
    Bonus
    $0
    Other
    $11,674
    Deferred
    $12,835
    Nontaxable benefits
    $6,564
    Filer's total
    $173,634

  • Tony Lucero

    LINE SUPERINTENDENT

    Total calculated
    $145,447
    From this org
    $134,991
    From related orgs
    $0
    Other
    $10,456
    Hours/week
    45

  • Carlos Salazer

    WORKING FOREMAN

    Total calculated
    $125,372
    From this org
    $115,759
    From related orgs
    $0
    Other
    $9,613
    Hours/week
    45

  • Randy Vigil

    LINE SUPERINTENDENT

    Total calculated
    $125,735
    From this org
    $115,674
    From related orgs
    $0
    Other
    $10,061
    Hours/week
    45

  • Juan Duran

    WORKING FOREMAN

    Total calculated
    $119,970
    From this org
    $111,116
    From related orgs
    $0
    Other
    $8,854
    Hours/week
    45

  • Jonathan Romero

    JOURNEYMAN LINEMAN

    Total calculated
    $119,918
    From this org
    $110,704
    From related orgs
    $0
    Other
    $9,214
    Hours/week
    45

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 · Compensation survey or study
  • 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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 December 2023
IRS schema version
2022v5.0
Source object
202343429349301214

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