Nonprofit · EIN 85-0155370
NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC
Tax-exempt · SANTA FE, NM 87505
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,891,752 | $2,899,664 | -$7,912 | $703,665 | $404,513 | $299,152 |
| December 31, 2023 | 990 | $2,318,252 | $2,340,724 | -$22,472 | $572,887 | $265,823 | $307,064 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $70,372
- Program service revenue
- $2,673,845
- Investment income
- $2,039
- Net rental income
- $10,436
- Other revenue
- $145,496
Expenses
- Grants and similar amounts paid
- $6,000
- Benefits paid to members
- $35,000
- Compensation of officers, directors and key employees
- $261,359
- Other salaries and wages
- $634,529
- Salaries, compensation and benefits (total)
- $1,299,697
- Professional fundraising fees
- $0
- Legal fees
- $69,525
- Accounting fees
- $17,556
- Occupancy
- $152,540
- Travel
- $57,745
- Depreciation
- $5,510
Balance sheet and other
- Total assets, start of year
- $572,887
- Total assets, end of year
- $703,665
- Total liabilities, end of year
- $404,513
- Net assets, end of year
- $299,152
- Land, buildings and equipment
- $264,004
- Net assets without donor restrictions
- $299,152
- Gross unrelated business income
- $135,060
- Gross receipts
- $2,891,752
- Employees
- 7
- Volunteers
- 17
- Year formed
- 1954
- State of legal domicile
- NM
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHARISE SWANSON 124 - 1124 | CEO & GENERAL MANAGER Officer | 40 | $214,079 | $47,280 |
| LONNIE TUCKER | VP COMMUNICATIONS Highest-paid employee | 40 | $140,166 | $56,095 |
| TIMOTHY MORROW | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| CHARLES WAGNER | VICE PRESIDENT Trustee or director, Officer | 7 | $0 | $0 |
| DUANE FROST | SECRETARY/TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| CHRIS MARTINEZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KEITH GOTTLIEB | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHARLES T PINSON JR | TRUSTEE Trustee or director | 3 | $0 | $0 |
| THOMAS RIVAS | TRUSTEE Trustee or director | 3 | $0 | $0 |
| PRESTON STONE | TRUSTEE Trustee or director | 4.6 | $0 | $0 |
| ANTONIO SANCHEZ | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ERIC SEGOVIA | TRUSTEE Trustee or director | 4 | $0 | $0 |
| RAYMOND RUFFINI | TRUSTEE Trustee or director | 10 | $0 | $0 |
| WAYNE CONNELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BOBBY FERRIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RON BURNETT | TRUSTEE Trustee or director | 1 | $0 |
| JAMES ORTIZ | TRUSTEE Trustee or director | 2 | $0 |
| MANUEL BUSTOS | TRUSTEE Trustee or director | 1 | $0 |
| JOE REESER | TRUSTEE Trustee or director | 8 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHARISE SWANSON | CEO & GENERAL MANAGER Officer | 60 | $219,876 | $36,760 |
| TIMOTHY MORROW | PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| CHARLES WAGNER | VICE PRESIDENT Trustee or director, Officer | 7 | $0 | $0 |
| DUANE FROST | SECRETARY/TREASURER Trustee or director, Officer | 5 | $0 | $0 |
| CHRIS MARTINEZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KEITH GOTTLIEB | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CHARLES T PINSON JR | TRUSTEE Trustee or director | 3 | $0 | $0 |
| THOMAS RIVAS | TRUSTEE Trustee or director | 3 | $0 | $0 |
| PRESTON STONE | TRUSTEE Trustee or director | 4.6 | $0 | $0 |
| ANTONIO SANCHEZ | TRUSTEE Trustee or director | 3 | $0 | $0 |
| GENE CREIGHTON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEORGE BIEL | TRUSTEE Trustee or director | 5 | $0 | $0 |
| WAYNE CONNELL | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BOBBY FERRIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JUDITH HOLCOMB | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JAMES ORTIZ | TRUSTEE Trustee or director | 2 | $0 | $0 |
| MANUEL BUSTOS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JOE REESER | TRUSTEE Trustee or director | 8 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 614 DON GASPAR AVE, SANTA FE, NM 87505-4428
- Principal officer (990 for 2024)
- VINCE MARTINEZ, 614 DON GASPAR, SANTA FE, NM 87505
- Signed the 990
- VINCE MARTINEZ, CEO & GENERAL MANAGER
- Phone
- (505) 982-4671
- Website
- WWW.NMELECTRIC.COOP
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
THE MISSION OF THE NEW MEXICO RURAL ELECTRIC COOPERATIVES (NMREC) IS TO ADVANCE PROTECT AND ADVOCATE MEMBER INTERESTS.
Program accomplishments
- PROVIDING EDUCATION, PERSONAL TRAINING AND ADVOCACY FOR 15 NEW MEXICO ELECTRIC COOPERATIVES, 2 GENERATION AND TRANSMISSION COOPERATIVES, AND 3 RURAL ELECTRIC DISTRIBUTION COOPERATIVE ASSOCIATE MEMBERS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0155370
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1963
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $703,665
- Income (IRS master file)
- $2,891,752
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,891,752 | $2,899,664 | $703,665 | IRS |
| 990 | December 2023 | $2,318,252 | $2,340,724 | $572,887 | XML |
| 990 | December 2022 | $2,014,147 | $2,207,785 | $552,094 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0155370).
Questions about NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC
- What is the EIN of NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC?
- The employer identification number (EIN) of NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC is 85-0155370.
- Is NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1963.
- Are donations to NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names VINCE MARTINEZ.
- Who are the officers and directors of NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 19 people; 2 received compensation from the organization, the highest $214,079 (CHARISE SWANSON 124 - 1124, CEO & GENERAL MANAGER).
- How much revenue does NEW MEXICO RURAL ELECTRIFICATION COOPERATIVE ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,891,752, expenses of $2,899,664 and total assets of $703,665 at year end.
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