Jemez Mountains Electric Cooperative
Legal name: Jemez Mountains Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 850098061
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Aug 2026
- Forms available
- Form 990 2024
- Location
- Hernandez, NM, US
- Phone
- (505) 753-2105
- Rating confidence
- Limited
Reported finances
- Revenue
- $58,582,869
- Expenses
- $58,068,715
- Assets
- $148,008,420
- Liabilities
- $84,040,186
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- DENNIS TRUJILLO (PRESIDENT)
- MANUEL BUSTOS (VICE PRESIDENT)
- JOSEPH SANCHEZ (GENERAL MANAGER/CEO)
- MICHAEL HASTINGS (GENERAL MANAGER/CEO (JAN))
Highest reported compensation
- GERALDINE ROMERO (CFO): $184,659 total reported compensation
- BRANDON BUSTOS (JOURNEYMAN LINEMAN): $182,468 total reported compensation
- JONATHAN ROMERO (JOURNEYMAN LINEMAN): $182,119 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
JMEC’s mission is to provide safe, reliable, and affordable electric service to its member-owners while maintaining transparent and ethical governance.
What it reported doing in 2024
Sale of electric energy to members on a cooperative basis through the allocation of patronage capital. There were 31,660 active services at year end.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 76
- Accountability: 91
- Sustainability: 47
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.9%; rating input score 37; 37th percentile among comparable filings
- Total-asset coverage ratio: 2.55; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 2.5%; rating input score 46; 46th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 1.3% per year; rating input score 100; 10th percentile among comparable filings
- Asset growth: 3.2% per year; rating input score 100; 22nd percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $185K · 20 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $1.1M reported
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 20 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 37/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
- Moderate — Sustainability: Officer compensation ratio scored 46/100.