Lea County Electric Education Foundation
- Assets
- $2.7m
- Revenue
- $934.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Lovington, NM
- Founding
- 03/1988
- Data as of
- 12/2023
- EIN
- 85-0351147
Organization Overview
Lea County Electric Education Foundation is located in Lovington, NM. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lea County Electric Education 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 12/2023, Lea County Electric Education Foundation generated $934.9k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.2% each year . All expenses for the organization totaled $272.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Lea County Electric Education Foundation has awarded 389 individual grants totaling $1,549,375. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLEGE SCHOLARSHIPS TO MEMBERS OF LEA COUNTY ELECTRIC COOPERATIVE, INC. AND TO THEIR IMMEDIATE FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Graham President | 1 | $0 | |
Robert Caudle Vice-President | 1 | $0 | |
Dan Hardin Secretary - Treasurer | 1 | $0 | |
Kenny Wallace Trustee | 1 | $0 | |
Travis Glenn Trustee | 1 | $0 | |
Randall Mccormick Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $831,736 |
| Interest on Savings | $0 |
| Dividends & Interest | $39,619 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $63,517 |
| Capital Gain Net Income | $63,517 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $934,872 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $348 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $21 |
| Total operating and administrative expenses | $23,235 |
| Contributions, gifts, grants paid | $249,500 |
| Total expenses and disbursements | $272,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,488 |
| Savings and temporary cash investments | $1,865,061 |
| Net Accounts receivable | $1,490 |
| Net Pledges Receivable | $0 |
| Grants receivable | $831,536 |
| 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 | $2,735,575 |
| 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, Lea County Electric Education Foundation has awarded $249,500 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
DAVID ASCENCIO PURPOSE: SCHOLARSHIP | $8,375 |
MASON BROWN PURPOSE: SCHOLARSHIP | $8,000 |
JAYLON BLEYENBERG PURPOSE: SCHOLARSHIP | $8,000 |
MALLORY BUNCH PURPOSE: SCHOLARSHIP | $8,000 |
SEBASTIAN BROWN PURPOSE: SCHOLARSHIP | $8,000 |
DERICK CASTELLANOS PURPOSE: SCHOLARSHIP | $8,000 |