Socorro Electric Foundation
- Assets
- $430.7k
- Revenue
- $10.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Socorro, NM
- Founding
- 03/1970
- Data as of
- 12/2022
- EIN
- 23-7044964
Organization Overview
Socorro Electric Foundation is located in Socorro, NM. The organization was established in 1970. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Socorro Electric Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Socorro Electric Foundation generated $10.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (21.5%) each year. All expenses for the organization totaled $70.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Socorro Electric Foundation has awarded 148 individual grants totaling $244,750. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE COLLEGE SCHOLARSHIPS TO STUDENTS LOCATED IN THE SERVICE AREA OF SOCORRO ELECTRIC COOPERATIVE. DURING 2022 39 STUDENTS RECEIVED SCHOLARSHIPS.
THE FOUNDATION SUPPORTS LOCAL SCHOOLS WITH ASSISTANCE IN HOLDING SPELLING BEES, COLORING CONTESTS, KIDS' SCIENCE CAFE, AND LIVESTOCK SALES.
GRANTS TO SUPPORT THE ANNUAL COUNTY FAIR, LOCAL 4H, AND FFA PROGRAMS.
THE FOUNDATION PAYS FOR STUDENTS AND ADVISORS TO TRAVEL TO WASHINGTON DC ON A YOUTH TOUR SPONSORED BY NEW MEXICO RURAL ELECTRIC COOPERATIVE ASSOCIATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Aguilar Vice President | 1 | $0 | |
Anne L Dorough 0122 - 0222 Past President | 1 | $0 | |
James Nelson President | 1 | $0 | |
Donald Wolberg Secretary/ Treasurer | 1 | $0 | |
Ward Mccartney 0422 - 1222 Trustee | 1 | $0 | |
Leroy Anaya Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $50 |
| Dividends & Interest | $4,162 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,685 |
| Capital Gain Net Income | $6,685 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,897 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $180 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,866 |
| Total operating and administrative expenses | $4,246 |
| Contributions, gifts, grants paid | $65,750 |
| Total expenses and disbursements | $69,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,374 |
| Savings and temporary cash investments | $301,332 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $430,706 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Socorro Electric Foundation has awarded $65,750 in support to 43 organizations.
| Grant Recipient | Amount |
|---|---|
ERIK J ARMIJO PURPOSE: SCHOLARSHIP | $4,000 |
JAMES WYATT KELLY PURPOSE: SCHOLARSHIP | $3,000 |
CALEB M SAGER PURPOSE: SCHOLARSHIP | $2,000 |
CATRON COUNTY PURPOSE: TO PROVIDE FUNDS FOR THE FAIR ASSOCIATION | $2,000 |
BAAHAZHO H PIASO PURPOSE: SCHOLARSHIP | $2,000 |
DARRIAN A GREENWOOD PURPOSE: SCHOLARSHIP | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hoblitzelle Foundation Dallas, TX | $135,054,358 | $12,987,577 |
Schlessman Foundation Inc Denver, CO | $82,645,895 | $9,127,697 |
Hillcrest Foundation Dallas, TX | $133,849,487 | $13,362,957 |
Huffington Foundation Houston, TX | $143,567,137 | $11,559,123 |
Marilyn And Sonny Oates Foundation Dallas, TX | $9,716,063 | $15,482,909 |
Frank E & Seba B Payne Foundation 31-55459-5 Dallas, TX | $0 | $7,949,536 |
Ewing Halsell Foundation San Antonio, TX | $128,225,154 | $18,962,628 |
Winifred Stevens Foundation Tempe, AZ | $145,980,607 | $5,750,312 |
Arizona Sheet Metal Trade Trust Fund Phoenix, AZ | $16,953,948 | $8,730,285 |
Pivotal Foundation Phoenix, AZ | $29,461,930 | $23,938,101 |
Knobloch Family Foundation Houston, TX | $166,642,525 | $7,681,170 |
Ben And Catherine Ivy Foundation Scottsdale, AZ | $302,350,252 | $12,975,372 |