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Nonprofiteer
← NEW MEXICO COMMUNITY TRUST

Form 990 for tax year 2022

Filed by NEW MEXICO COMMUNITY TRUST.

Totals

Total revenue
$10,280,145
Total expenses
$9,445,424
Contributions and grants received
$10,095,553
Grants paid
$8,953,633
Program service revenue
$33,393
Investment income
$151,199
Other revenue
$0
Total assets, end of year
$7,328,007
Total liabilities, end of year
$1,768,739
Net assets or fund balances, end of year
$5,559,268
Program services expenses (Part IX)
$9,409,721
Management and general expenses
$33,120
Fundraising expenses
$2,583
Program service expenses (Part III)
$9,409,721

Program services were 99.6% 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)

    $9,599,311

  • 1f · All other contributions, gifts and grants

    $496,242

  • 2a · Program service revenue: CONSULTING SERVICES

    total $33,393 · related or exempt $33,393

  • 3 · Investment income

    total $115,765 · excluded $115,765

  • 7a · Gross sales of assets other than inventory

    securities $511,755

  • 7b · Less cost or other basis and sales expenses

    securities $476,321

  • 7c · Gain or loss

    securities $35,434

  • 7d · Net gain or loss

    total $35,434 · excluded $35,434

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,953,633 · program services $8,953,633

  • 9 · Other employee benefits

    total $79 · program services $37 · management and general $31 · fundraising $11

  • 11b · Fees: legal

    total $14,359 · management and general $14,359

  • 11c · Fees: accounting

    total $64 · management and general $64

  • 11f · Fees: investment management

    total $11,118 · management and general $11,118

  • 13 · Office expenses

    total $15,317 · program services $6,812 · management and general $6,967 · fundraising $1,538

  • 14 · Information technology

    total $80 · program services $36 · management and general $32 · fundraising $12

  • 17 · Travel

    total $16 · program services $12 · management and general $3 · fundraising $1

  • 19 · Conferences, conventions and meetings

    total $188 · management and general $188

  • 24a · Other expenses: FEDERAL GRANT ADMIN EXP

    total $445,633 · program services $445,633

  • 24b · Other expenses: DONOR RELATIONS

    total $4,937 · program services $3,558 · management and general $358 · fundraising $1,021

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,034,922 · end of year $718,410

  • 3 · Pledges and grants receivable

    end of year $1,786,581

  • 4 · Accounts receivable

    beginning of year $1,565 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $4,823,016

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,391 · end of year $1,768,739

  • 27 · Net assets without donor restrictions

    beginning of year $35,096 · end of year $92,700

  • 28 · Net assets with donor restrictions

    beginning of year $5,000,000 · end of year $5,466,568

Mission and programs · 2022

Mission

TO BUILD, INVEST AND MANAGE ENDOWMENT FUNDS TO ENHANCE THE QUALITY OF NEW MEXICO THROUGH INFORMED, STRATEGIC GRANTMAKING.

Activities or mission (Part I)

TO MANAGE AND ADMINISTER ENDOWMENT AND DONOR ADVISED FUNDS THAT WILL BENEFIT NEW MEXICO NONPROFITS AND NEW MEXICO COMMUNITIES.

  • TO BUILD, INVEST AND MANAGE ENDOWMENT FUNDS TO ENHANCE THE QUALITY OF NEW MEXICO THROUGH INFORMED, STRATEGIC GRANTMAKING. THE ORGANIZATION ALSO PROVIDES CONSULTING AND OTHER SERVICES TO VARIOUS STATE COMMUNITY FOUNDATIONS AS A WAY OF HELPING OTHER ORGANIZATIONS IN NEED. IN 2022 THE ORGANIZATION RECEIVED A COVID-19 FEDERAL GRANT TO PROVIDE EMERGENCY RENTAL ASSISTANCE TO NEW MEXICO RESIDENTS; THESE FUNDS WERE DISTRIBUTED TO APPROXIMATELY 40 AGENCIES.

    Expenses $9,409,721 · Grants $8,953,633 · Revenue $33,393

As filed on the 2022 return.

Listed in Part VII

  • Carl Alongi

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • William Lang

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Leach

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • R Randall Royster

    PRESIDENT & CEO

    Total calculated
    $285,126
    From this org
    $0
    From related orgs
    $256,615
    Other
    $28,511
    Hours/week
    6 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,615 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,000 related
    Nontaxable benefits
    $0 + $19,511 related
    Filer's total
    $0 + $285,126 related

  • Nicholas Williams

    CFO

    Total calculated
    $133,780
    From this org
    $0
    From related orgs
    $122,119
    Other
    $11,661
    Hours/week
    6 + 49 related

  • Marisa Magallanez

    VP STRATEGY & EQUITY

    Total calculated
    $119,625
    From this org
    $0
    From related orgs
    $109,137
    Other
    $10,488
    Hours/week
    10 + 45 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

None.

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

The filer's explanations (Part III)

SCHEDULE J, LINE 3 EXPLANATION:
THE EXECUTIVE COMMITTEE OF THE RELATED ORGANIZATION, ALBUQUERQUE COMMUNITY FOUNDATION, DETERMINES THE SALARY OF THE PRESIDENT & CEO. THE EXECUTIVE COMMITTEE REVIEWS THE PERFORMANCE OF THE PRESIDENT & CEO AND COMPARES THAT TO THE ESSENTIAL RESPONSIBILITIES OF THE POSITION AS OUTLINED IN THE "PRESIDENT & CEO POSITION DESCRIPTION". THE EXECUTIVE COMMITTEE CONSIDERS PERFORMANCE, MARKET RATE AND COST OF LIVING ADJUSTMENTS IN DETERMING ANY COMPENSATION ADJUSTMENTS. THE EXECUTIVE COMMITTEE REVIEWS INDUSTRY DATA SUCH AS THE COUNCIL ON FOUNDATIONS' ANNUAL SALARY SURVEY IN DETERMINING AN APPROPRIATE LEVEL OF COMPENSATION. THIS DECISION-MAKING PROCESS IS DOCUMENTED IN THE ALBUQUERQUE COMMUNITY FOUNDATION'S EXECUTIVE COMMITTEE MEETING MINUTES.

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

  • TORRES LEGAL SOLUTIONS LLC

    $2,035,000

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • TENDERLOVE COMMUNITY CENTER

    $826,476

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • ESPERANZA SHELTER

    $825,781

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • VIZION SANKOFA

    $627,189

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • NEW MEXICO DEPARTMENT OF WORKFORCE

    $570,840

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • THE LIFE LINK

    $427,090

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • CARMICHAEL CONSULTANTS

    $392,000

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • WOMEN IN LEADERSHIP

    $316,400

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • EAST CENTRAL MINISTRIES

    $204,168

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

  • LEVADO

    $204,000

    COVID-19 EMERGENCY RENTAL ASSISTANCE PROGRAM

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
2 November 2023
IRS schema version
2022v5.0
Source object
202303109349303265

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