Form 990 for tax year 2024
Filed by CENTRAL NEW MEXICO ELECTRIC COOPERATIVE INCORPORATED.
Totals
- Total revenue
- $43,176,696
- Total expenses
- $43,343,860
- Contributions and grants received
- $0
- Grants paid
- $27,982
- Program service revenue
- $42,676,045
- Investment income
- $264,921
- Other revenue
- $235,730
- Total assets, end of year
- $119,319,293
- Total liabilities, end of year
- $59,220,811
- Net assets or fund balances, end of year
- $60,098,482
- 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 $40,460,799 · related or exempt $40,460,799
-
2b · Program service revenue: PATRONAGE DIVIDENDS
total $1,956,267 · related or exempt $1,956,267
-
2c · Program service revenue: SERVICE FEES
total $258,979 · related or exempt $258,979
-
3 · Investment income
total $264,921 · excluded $264,921
-
6a · Gross rents
real property $12,000
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $12,000
-
6d · Net rental income or loss
total $12,000 · related or exempt $12,000
-
10a · Gross sales of inventory
$13,057
-
10b · Cost of goods sold
$19,435
-
10c · Net income from sales of inventory
total -$6,378 · related or exempt -$6,378
-
11a · Other revenue: DISPATCHING INCOME
total $102,489 · unrelated business $102,489
-
11b · Other revenue: POLE ATTACHMENT INCOME
total $83,392 · excluded $83,392
-
11c · Other revenue: MISC. NONOPERATING REVENUE
total $44,227 · related or exempt $44,227
-
11e · Other revenue, total
$230,108
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $27,982
-
4 · Benefits paid to or for members
total $3,705,205
-
5 · Compensation of officers, directors and key employees
total $561,816
-
7 · Other salaries and wages
total $3,650,137
-
8 · Pension plan contributions
total $477,435
-
9 · Other employee benefits
total $578,797
-
10 · Payroll taxes
total $278,967
-
20 · Interest
total $2,259,913
-
22 · Depreciation, depletion and amortization
total $3,730,672
-
24a · Other expenses: PURCHASED POWER
total $22,158,473
-
24b · Other expenses: DISTRIBUTION EXPENSE
total $2,901,737
-
24c · Other expenses: ADMIN & GENERAL EXPENSE
total $1,959,304
-
24d · Other expenses: UNREL. BUS. INC. TAX
total $7,875
-
24e · All other expenses
total $1,045,547
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,059,624 · end of year $2,221,651
-
2 · Savings and temporary cash investments
beginning of year $764,214
-
4 · Accounts receivable
beginning of year $4,369,265 · end of year $4,149,255
-
7 · Other notes and loans receivable
beginning of year $152,000 · end of year $95,000
-
8 · Inventories for sale or use
beginning of year $4,173,873 · end of year $6,735,161
-
9 · Prepaid expenses and deferred charges
beginning of year $1,746,573 · end of year $2,082,275
-
10a · Land, buildings and equipment: cost or other basis
$136,004,831
-
10b · Land, buildings and equipment: accumulated depreciation
$52,710,772
-
10c · Land, buildings and equipment, net
beginning of year $73,442,004 · end of year $83,294,059
-
13 · Investments: program-related
beginning of year $17,134,712 · end of year $18,843,029
-
15 · Other assets
beginning of year $2,224,321 · end of year $1,898,863
-
17 · Accounts payable and accrued expenses
beginning of year $3,702,029 · end of year $3,818,749
-
23 · Secured mortgages and notes payable
beginning of year $44,778,399 · end of year $54,015,754
-
25 · Other liabilities
beginning of year $752,466 · end of year $1,386,308
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
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 $56,833,692 · end of year $60,098,482
Mission and programs · 2024
Mission
CENTRAL NEW MEXICO ELECTRIC IS A NOT FOR PROFIT, MEMBER OWNED UTILITY, DELIVERING SAFE AND RELIABLE ENERGY TO THE COMMUNITIES WE SERVE. THROUGH THE SEVEN COOPERATIVE PRINCIPLES, WE PROVIDE HIGH QUALITY SERVICES TO OUR MEMBERS THROUGH EDUCATION AND COMMUNITY INVOLVEMENT.
Activities or mission (Part I)
TO PROVIDE HIGH QUALITY ELECTRIC SERVICES TO ITS MEMBERS ON A COOPERATIVE BASIS.
-
SALE OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 19,173 METERS/SERVICES AT YEAR END.
-
DURING 2024, THE COOPERATIVE BEGAN PROVIDING BROADBAND SERVICES TO MEMBERS ON A PATRONAGE BASIS.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Santos Anaya JrSANTOS ANAYA JR
TRUSTEE
- Total calculated
- $13,526
- From this org
- $13,526
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.7 + 1 related
-
Wayne ConnellWAYNE CONNELL
VICE PRESIDENT
- Total calculated
- $11,938
- From this org
- $11,938
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.6 + 1 related
-
Bill KingBILL KING
SECRETARY
- Total calculated
- $12,173
- From this org
- $12,173
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.3 + 1 related
-
Lisa GardnerLISA GARDNER
ASSISTANT SECRETARY
- Total calculated
- $12,271
- From this org
- $12,271
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.6 + 1 related
-
Joseph Vicente IIIJOSEPH VICENTE III
TREASURER
- Total calculated
- $12,030
- From this org
- $12,030
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.2 + 1 related
-
Joseph AnayaJOSEPH ANAYA
TRUSTEE
- Total calculated
- $13,773
- From this org
- $13,773
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.9 + 1 related
-
Duane FrostDUANE FROST
PRESIDENT
- Total calculated
- $14,122
- From this org
- $14,122
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.4 + 1 related
-
Kenneth LujanKENNETH LUJAN
TRUSTEE
- Total calculated
- $11,622
- From this org
- $11,622
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.5 + 1 related
-
Alena BrandenbergerALENA BRANDENBERGER
CEO
- Total calculated
- $246,126
- From this org
- $169,920
- From related orgs
- $0
- Other
- $76,206
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,107
- Bonus
- $10,000
- Other
- $5,813
- Deferred
- $46,750
- Nontaxable benefits
- $29,456
- Filer's total
- $246,126
-
Alexandra SandovalALEXANDRA SANDOVAL
CFO (JAN-OCT)
- Total calculated
- $132,075
- From this org
- $110,579
- From related orgs
- $0
- Other
- $21,496
- Hours/week
- 40
-
Susan MetzgerSUSAN METZGER
CFO
- Total calculated
- $82,160
- From this org
- $56,975
- From related orgs
- $0
- Other
- $25,185
- Hours/week
- 40
-
Corey PlantCOREY PLANT
LINE FOREMAN
- Total calculated
- $152,097
- From this org
- $136,194
- From related orgs
- $0
- Other
- $15,903
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,194
- Bonus
- $0
- Other
- $0
- Deferred
- $5,974
- Nontaxable benefits
- $9,929
- Filer's total
- $152,097
-
Ernesto AcostaERNESTO ACOSTA
JOURNEYMAN LINEMAN
- Total calculated
- $160,500
- From this org
- $135,368
- From related orgs
- $0
- Other
- $25,132
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,368
- Bonus
- $0
- Other
- $0
- Deferred
- $14,310
- Nontaxable benefits
- $10,822
- Filer's total
- $160,500
-
Jeremiah KeckJEREMIAH KECK
LINE FOREMAN
- Total calculated
- $181,019
- From this org
- $134,184
- From related orgs
- $0
- Other
- $46,835
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,184
- Bonus
- $0
- Other
- $0
- Deferred
- $20,075
- Nontaxable benefits
- $26,760
- Filer's total
- $181,019
-
Jimmie RayJIMMIE RAY
JOURNEYMAN LINEMAN
- Total calculated
- $161,365
- From this org
- $120,657
- From related orgs
- $0
- Other
- $40,708
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,657
- Bonus
- $0
- Other
- $0
- Deferred
- $14,328
- Nontaxable benefits
- $26,380
- Filer's total
- $161,365
-
Justin WaldonJUSTIN WALDON
JOURNEYMAN LINEMAN
- Total calculated
- $148,066
- From this org
- $115,787
- From related orgs
- $0
- Other
- $32,279
- 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
-
LINCOLN COUNTY FAIR
$8,292
LIVESTOCK SHOW AWARDS CONTRIBUTION
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.
-
CENTRAL NEW MEXICO ELECTRIC EDUCATION FOUNDATION
501(C)(3) · TO PROVIDE COLLEGE SCHOLARSHIPS TO MEMBERS OF THE COOPERATIVE · NM · controlled entity
Directly controlled by CENTRAL NEW MEXICO ELECTRIC COOPERATIVE INC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513229349300206
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