Springer Electric Cooperative Inc

Organization Overview

Springer Electric Cooperative Inc is located in Springer, NM. The organization was established in 2001. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Springer Electric Cooperative Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springer Electric Cooperative Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.

For the year ending 12/2021, Springer Electric Cooperative Inc generated $21.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $21.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SALE AND DISTRIBUTION OF ELECTRIC ENERGY AT THE LOWEST POSSIBLE PRICE AND IN THE MOST RELIABLE MANNER

Describe the Organization's Program Activity:

Part 3 - Line 4a

TOTAL MEMBERS AS OF 12 31 2021 - 4,933 TOTAL SERVICES IN PLACE AS OF 12 31 2021 - 3,683


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Board, Officers & Key Employees

Name (title)Compensation
David Spradlin
CEO
$211,425
Tim Morrow
Director - Vice President
$18,429
Gary Shaw
Director - Secretary Treasurer
$12,771
Russell Hoy
Director
$12,232
Alfonso Maestas
Director
$12,232
Gerald Seward
Director
$12,232

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$20,947,079
Investment income $119,661
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $9,742
Net Gain/Loss on Asset Sales $249,284
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $21,344,782

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