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Nonprofiteer
← NORTHERN RIO ARRIBA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by NORTHERN RIO ARRIBA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$5,417,737
Total expenses
$5,375,507
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,225,611
Investment income
$134,882
Other revenue
$57,244
Total assets, end of year
$20,334,213
Total liabilities, end of year
$7,651,519
Net assets or fund balances, end of year
$12,682,694
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$5,417,737

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: SALE OF POWER

    total $5,102,274 · related or exempt $5,102,274

  • 2b · Program service revenue: OTHER OPERATING REVENUE

    total $62,678 · related or exempt $62,678

  • 2c · Program service revenue: CAPITAL CREDITS

    total $60,659 · related or exempt $60,659

  • 3 · Investment income

    total $60,308 · excluded $60,308

  • 6a · Gross rents

    real property $57,244

  • 6c · Rental income or loss

    real property $57,244

  • 6d · Net rental income or loss

    total $57,244 · related or exempt $57,244

  • 7a · Gross sales of assets other than inventory

    securities $85,631

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

    securities $11,057

  • 7c · Gain or loss

    securities $74,574

  • 7d · Net gain or loss

    total $74,574 · related or exempt $74,574

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $280,595

  • 7 · Other salaries and wages

    total $763,747

  • 8 · Pension plan contributions

    total $277,832

  • 9 · Other employee benefits

    total $138,400

  • 10 · Payroll taxes

    total $79,124

  • 11a · Fees: management

    total $21,632

  • 11b · Fees: legal

    total $2,074

  • 11c · Fees: accounting

    total $16,000

  • 11g · Fees: other

    total $40,395

  • 12 · Advertising and promotion

    total $4,259

  • 13 · Office expenses

    total $23,296

  • 14 · Information technology

    total $50,900

  • 16 · Occupancy

    total $40,936

  • 17 · Travel

    total $78,488

  • 19 · Conferences, conventions and meetings

    total $36,849

  • 20 · Interest

    total $534,067

  • 22 · Depreciation, depletion and amortization

    total $624,141

  • 23 · Insurance

    total $92,742

  • 24a · Other expenses: COST OF POWER

    total $2,142,205 · program services $2,142,205

  • 24e · All other expenses

    total $127,825

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $640,002 · end of year $496,225

  • 4 · Accounts receivable

    beginning of year $556,524 · end of year $477,682

  • 8 · Inventories for sale or use

    beginning of year $292,003 · end of year $256,884

  • 9 · Prepaid expenses and deferred charges

    beginning of year $326,906 · end of year $296,023

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

    $22,871,555

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

    $10,211,027

  • 10c · Land, buildings and equipment, net

    beginning of year $12,631,235 · end of year $12,660,528

  • 11 · Investments: publicly traded securities

    beginning of year $2,815,020 · end of year $2,846,305

  • 12 · Investments: other securities

    beginning of year $250,000 · end of year $250,000

  • 13 · Investments: program-related

    beginning of year $2,849,421 · end of year $2,875,578

  • 15 · Other assets

    beginning of year $160,286 · end of year $174,988

  • 17 · Accounts payable and accrued expenses

    beginning of year $503,618 · end of year $599,702

  • 24 · Unsecured notes and loans payable

    beginning of year $7,230,436 · end of year $6,990,597

  • 25 · Other liabilities

    beginning of year $70,829 · end of year $61,220

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,716,514 · end of year $12,682,694

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE, QUALITY, AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 3,263 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY IN A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.

    Expenses $5,417,737

As filed on the 2024 return.

Listed in Part VII

  • Anthony J Mercure

    VICE PRESIDENT & GENERAL MANAGER

    Total calculated
    $130,334
    From this org
    $107,498
    From related orgs
    $0
    Other
    $22,836
    Hours/week
    40

  • Marla C Ulibarri

    CONTROLLER

    Total calculated
    $110,212
    From this org
    $81,115
    From related orgs
    $0
    Other
    $29,097
    Hours/week
    40

  • Thomas Rivas

    TRUSTEE

    Total calculated
    $8,550
    From this org
    $8,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Debbie F Manzanares

    VICE PRESIDENT

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.8

  • Steve Rendon

    PRESIDENT

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • David Martinez

    TRUSTEE

    Total calculated
    $5,550
    From this org
    $5,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Paul Cordova

    SECRETARY

    Total calculated
    $4,650
    From this org
    $4,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Michael Gomez

    TRUSTEE

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Leroy Martinez

    TREASURER

    Total calculated
    $4,350
    From this org
    $4,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
23 April 2025
IRS schema version
2024v5.1
Source object
202501139349300615

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