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Nonprofiteer
← RGEC INC

Form 990 for tax year 2023

Filed by RGEC INC.

Totals

Total revenue
$9,926,016
Total expenses
$6,250,579
Contributions and grants received
$3,871,152
Grants paid
$8,060
Program service revenue
$5,824,837
Investment income
$275,885
Other revenue
-$45,858
Total assets, end of year
$10,409,717
Total liabilities, end of year
$983,251
Net assets or fund balances, end of year
$9,426,466
Program services expenses (Part IX)
$4,243,230
Management and general expenses
$2,007,349
Fundraising expenses
$0
Program service expenses (Part III)
$4,243,230

Program services were 67.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,862,674

  • 1f · All other contributions, gifts and grants

    $8,478

  • 2a · Program service revenue: BEFORE & AFTER SCHOOL

    total $1,419,559 · related or exempt $1,419,559

  • 2b · Program service revenue: EARLY CHILDHOOD PROGRAM

    total $3,440,057 · related or exempt $3,440,057

  • 2c · Program service revenue: FOOD PROGRAM

    total $965,221 · related or exempt $965,221

  • 3 · Investment income

    total $275,885 · excluded $275,885

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total -$45,858 · related or exempt -$45,858

  • 11e · Other revenue, total

    -$45,858

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,060 · program services $8,060

  • 5 · Compensation of officers, directors and key employees

    total $433,532 · program services $281,796 · management and general $151,736

  • 7 · Other salaries and wages

    total $3,269,375 · program services $2,125,093 · management and general $1,144,282

  • 8 · Pension plan contributions

    total $187,256 · program services $121,716 · management and general $65,540

  • 9 · Other employee benefits

    total $40,424 · program services $26,276 · management and general $14,148

  • 10 · Payroll taxes

    total $299,569 · program services $194,720 · management and general $104,849

  • 11a · Fees: management

    total $28,429 · program services $28,429

  • 11b · Fees: legal

    total $34,189 · management and general $34,189

  • 11c · Fees: accounting

    total $31,701 · program services $23,769 · management and general $7,932

  • 11g · Fees: other

    total $205,408 · program services $5,025 · management and general $200,383

  • 12 · Advertising and promotion

    total $65,495 · program services $8,547 · management and general $56,948

  • 13 · Office expenses

    total $180,301 · program services $135,186 · management and general $45,115

  • 14 · Information technology

    total $160,110 · program services $149,483 · management and general $10,627

  • 16 · Occupancy

    total $37,713 · program services $30,171 · management and general $7,542

  • 17 · Travel

    total $39,222 · program services $38,790 · management and general $432

  • 19 · Conferences, conventions and meetings

    total $65,686 · program services $50,470 · management and general $15,216

  • 20 · Interest

    total $15,073 · management and general $15,073

  • 22 · Depreciation, depletion and amortization

    total $148,273 · program services $118,618 · management and general $29,655

  • 23 · Insurance

    total $13,314 · management and general $13,314

  • 24a · Other expenses: SNACKSMEALS FOR STUDENTS

    total $723,143 · program services $723,143

  • 24b · Other expenses: SUPPLIES FOR STUDENTS

    total $112,120 · program services $112,120

  • 24c · Other expenses: OTHER - DIRECTORS FEES

    total $59,000 · management and general $59,000

  • 24e · All other expenses

    total $93,186 · program services $61,818 · management and general $31,368

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $364,678 · end of year $661,359

  • 3 · Pledges and grants receivable

    beginning of year $570,803 · end of year $56,889

  • 4 · Accounts receivable

    beginning of year $171,192 · end of year $203,723

  • 7 · Other notes and loans receivable

    beginning of year $1,200

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,882 · end of year $38,898

  • 10a · Land, buildings and equipment: cost or other basis

    $179,289

  • 10b · Land, buildings and equipment: accumulated depreciation

    $179,289

  • 11 · Investments: publicly traded securities

    beginning of year $6,514,483 · end of year $7,894,118

  • 14 · Intangible assets

    beginning of year $276,469 · end of year $142,267

  • 15 · Other assets

    beginning of year $1,037,499 · end of year $1,412,463

  • 17 · Accounts payable and accrued expenses

    beginning of year $465,669 · end of year $324,629

  • 19 · Deferred revenue

    beginning of year $2,359,923 · end of year $1,906

  • 25 · Other liabilities

    beginning of year $828,763 · end of year $656,716

  • 27 · Net assets without donor restrictions

    beginning of year $5,318,851 · end of year $9,426,466

Mission and programs · 2023

Mission

OUR MISSION IS TO LEVERAGE RESOURCES AND OPPORTUNITIES TO CREATE A CONTINUUM OF SERVICES TO SUPPORT THE SOCIAL AND ACADEMIC DREAMS OF CHILDREN, THEIR FAMILIES AND THEIR COMMUNITIES.

  • THE NEW MEXICO EARLY CHILDHOOD EDUCATION AND CARE DEPARTMENT PROGRAM ALIGNS WITH THE BEFORE AND AFTER SCHOOL PROGRAM BY ALLOWING US TO WORK WITH CHILDREN WHO NORMALLY COULD NOT ATTEND THE PROGRAM.WE LICENSE AS MANY LOCATIONS AS POSSIBLE THROUGH ECECD, WHICH ALLOWS ECECD TO QUALIFY FAMILIES AND ENTER INTO CONTRACTS WITH THEM FOR CHILD CARE SUBSIDIES THAT PAY THE RGEC PROGRAM FEES.AT THE END OF FISCAL YEAR 2024, WE HAD 818 ACTIVE CONTRACTS IN 47 SCHOOLS.

    Expenses $2,344,719 · Revenue $3,440,057

  • RGEC BEFORE AND AFTER SCHOOL PROGRAMS OPERATE IN MORE THAN 50 ELEMENTARY SCHOOLS IN THE ALBUQUERQUE, BELEN, MORIARTY, SOCORRO AND RIO RANCHO AREAS. WE UTILIZE TWO EDUCATION MODELS TO ENSURE A HIGH QUALITY AND UNIQUE ENVIRONMENT FOR OUR CHILDREN, THE E-CUBED MODEL ENRICHMENT MODEL EXCLUSIVE TO OUR PROGRAM, AND THE FOUR CORNERS TEACHING STRATEGY.

    Expenses $967,562 · Revenue $1,419,559

  • THE NEW MEXICO EARLY CHILDHOOD EDUCATION AND CARE DEPARTMENT FOOD PROGRAM WORKS HAND IN HAND WITH THE RGEC BEFORE AND AFTER SCHOOL PROGRAM BECAUSE IT ALLOWS US TO PROVIDE NUTRITIOUS SNACKS AND MEALS TO CHILDREN ATTENDING THE PROGRAM 204,465 MEALS WERE SERVED DURING THE PAST SCHOOL YEAR.

    Expenses $930,949 · Revenue $965,221

As filed on the 2023 return.

Listed in Part VII

  • Peter Sanchez

    CEO

    Total calculated
    $283,755
    From this org
    $221,686
    From related orgs
    $39,569
    Other
    $22,500
    Hours/week
    27.5 + 12.5 related

    Schedule J breakdown matched by us

    Base
    $221,686 + $39,569 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $22,500 related
    Nontaxable benefits
    not reported
    Filer's total
    $221,686 + $62,069 related

  • Brian Oconnell

    COOCFO

    Total calculated
    $123,846
    From this org
    $123,846
    From related orgs
    $0
    Other
    $0
    Hours/week
    27.5 + 12.5 related

  • Thaddeus Lucero

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2 + 1 related

  • Charles Pena

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2 + 1 related

  • Ray Mares

    BOARD MEMBER

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2 + 1 related

  • Randolph Sanchez

    CHAIRMAN

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2 + 1 related

  • Roberta Ricci

    BOARD MEMBER

    Total calculated
    $16,000
    From this org
    $16,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ATRISCO OIL & GAS LLC

    C Corp · EXPLORATION OF MINERAL RIGHTS · NM · 0% owned

    Directly controlled by NONE

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202501269349302225

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