Socorro Electric Foundation
EIN: 237044964 · Socorro, NM
| Metric | Value |
|---|---|
| Total Revenue | $29K |
| Total Expenses | $82K |
| Net Assets | $518K |
Is Socorro Electric Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Socorro Electric Foundation
Socorro Electric Foundation (EIN: 237044964) is a nonprofit organization based in Socorro, NM. The organization reported total revenue of $29K and total assets of $408K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Socorro Electric Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Socorro Electric Foundation is a micro nonprofit that has been operating for 56 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 38.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $147K |
| Total Expenses | $82K |
| Surplus / Deficit | +$65K |
| Total Assets | $518K |
| Total Liabilities | $1 |
| Net Assets | $518K |
| Operating Margin | 44.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 76.0 months |
Financial Health Grade: A
In 2023, Socorro Electric Foundation reported a surplus of $65K with revenue exceeding expenses, holds 76.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Socorro Electric Foundation's revenue has grown at a compound annual growth rate (CAGR) of 38.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1246.8% | +16.8% | +20.2% |
| 2022 | -19.7% | -11.7% | -19.8% |
| 2021 | -94.8% | +42.6% | -10.1% |
| 2020 | +48405.2% | +25.6% | +55.0% |
| 2019 | -98.5% | +93.7% | +63.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1280 |
| IRS Ruling Date | 1970 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Socorro Electric Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Socorro Electric Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $65K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Socorro Electric Foundation
Is Socorro Electric Foundation a legitimate charity?
Socorro Electric Foundation (EIN: 237044964) is a registered tax-exempt nonprofit based in New Mexico. It has 10 years of IRS 990 filings on record. Total revenue: $29K. No red flags identified. Financial health grade: A.
How does Socorro Electric Foundation spend its money?
Socorro Electric Foundation reported $29K in total revenue in IRS 990 filings. 10 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Socorro Electric Foundation tax-deductible?
Socorro Electric Foundation is registered as a tax-exempt nonprofit (EIN: 237044964). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Socorro Electric Foundation located?
Socorro Electric Foundation is headquartered in Socorro, New Mexico and files with the IRS under EIN 237044964.
How many years of IRS 990 filings does Socorro Electric Foundation have?
Socorro Electric Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $29K in total revenue.
Filing History
IRS 990 filing history for Socorro Electric Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Socorro Electric Foundation's revenue has grown by 4931.3%, moving from $3K to $147K. Total assets increased by 766.3% over the same period, from $60K to $518K. Total functional expenses rose by 549.4%, from $13K to $82K. In its most recent filing year (2023), Socorro Electric Foundation reported a surplus of $65K, with revenue exceeding expenses. The organization holds $1 in liabilities against $518K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $518K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $147K | $82K | $518K | $1 | — | View 990 |
| 2022 | $11K | $70K | $431K | $1 | — | View 990 |
| 2021 | $14K | $79K | $537K | $1 | — | — |
| 2020 | $260K | $56K | $597K | $1 | — | View 990 |
| 2019 | $537 | $44K | $385K | $1 | — | View 990 |
| 2015 | $36K | $23K | $236K | $0 | — | View 990 |
| 2014 | $10K | $28K | $223K | $0 | — | View 990 |
| 2013 | $60K | $31K | $241K | $0 | — | View 990 |
| 2012 | $159K | $8K | $212K | $0 | — | View 990 |
| 2011 | $3K | $13K | $60K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $147K, expenses of $82K, and assets of $518K (revenue +1246.8% year-over-year).
- 2022: Revenue of $11K, expenses of $70K, and assets of $431K (revenue -19.7% year-over-year).
- 2021: Revenue of $14K, expenses of $79K, and assets of $537K (revenue -94.8% year-over-year).
- 2020: Revenue of $260K, expenses of $56K, and assets of $597K (revenue +48405.2% year-over-year).
- 2019: Revenue of $537, expenses of $44K, and assets of $385K (revenue -98.5% year-over-year).
- 2015: Revenue of $36K, expenses of $23K, and assets of $236K (revenue +278.0% year-over-year).
- 2014: Revenue of $10K, expenses of $28K, and assets of $223K (revenue -84.0% year-over-year).
- 2013: Revenue of $60K, expenses of $31K, and assets of $241K (revenue -62.1% year-over-year).
- 2012: Revenue of $159K, expenses of $8K, and assets of $212K (revenue +5361.6% year-over-year).
- 2011: Revenue of $3K, expenses of $13K, and assets of $60K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Socorro Electric Foundation:
Data Sources and Methodology
This transparency report for Socorro Electric Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.