Form 990 for tax year 2022
Filed by ALBUQUERQUE ECONOMIC DEVELOPMENT INC.
Totals
- Total revenue
- $1,639,266
- Total expenses
- $1,875,350
- Contributions and grants received
- $1,338,891
- Grants paid
- $0
- Program service revenue
- $140,043
- Investment income
- $160,332
- Other revenue
- $0
- Total assets, end of year
- $3,324,539
- Total liabilities, end of year
- $319,850
- Net assets or fund balances, end of year
- $3,004,689
- Program services expenses (Part IX)
- $1,590,460
- Management and general expenses
- $284,890
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,590,460
Program services were 84.8% 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)
$188,492
-
1f · All other contributions, gifts and grants
$1,150,399
-
1g · Noncash contributions included above
$11,250
-
2a · Program service revenue: PROGRAM SERVICES
total $140,043 · related or exempt $140,043
-
3 · Investment income
total $99,224 · excluded $99,224
-
7a · Gross sales of assets other than inventory
securities $284,846
-
7b · Less cost or other basis and sales expenses
securities $223,738
-
7c · Gain or loss
securities $61,108
-
7d · Net gain or loss
total $61,108 · related or exempt $61,108
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $272,891 · program services $272,891
-
7 · Other salaries and wages
total $569,954 · program services $485,669 · management and general $84,285
-
8 · Pension plan contributions
total $56,498 · program services $8,286 · management and general $48,212
-
9 · Other employee benefits
total $29,770 · program services $31,040 · management and general -$1,270
-
10 · Payroll taxes
total $58,779 · program services $51,915 · management and general $6,864
-
11b · Fees: legal
total $23,087 · program services $23,087
-
11c · Fees: accounting
total $64,530 · management and general $64,530
-
11d · Fees: lobbying
total $16,366 · program services $16,366
-
11f · Fees: investment management
total $20,593 · management and general $20,593
-
11g · Fees: other
total $185,102 · program services $185,102
-
12 · Advertising and promotion
total $81,897 · program services $81,897
-
13 · Office expenses
total $56,388 · program services $47,997 · management and general $8,391
-
16 · Occupancy
total $68,908 · program services $67,327 · management and general $1,581
-
17 · Travel
total $49,515 · program services $49,515
-
19 · Conferences, conventions and meetings
total $27,224 · program services $27,224
-
20 · Interest
total $12,927 · program services $4,240 · management and general $8,687
-
22 · Depreciation, depletion and amortization
total $44,040 · management and general $44,040
-
23 · Insurance
total $16,966 · program services $15,610 · management and general $1,356
-
24a · Other expenses: DUES AND SUBSCRIPTION
total $105,312 · program services $108,889 · management and general -$3,577
-
24b · Other expenses: SPECIAL PROJECTS
total $67,370 · program services $67,370
-
24c · Other expenses: MEMBERSHIP RECRUITMENT
total $24,289 · program services $24,289
-
24d · Other expenses: INKIND EXPENSES
total $11,250 · program services $11,250
-
24e · All other expenses
total $11,694 · program services $10,496 · management and general $1,198
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $84,078 · end of year $105,967
-
2 · Savings and temporary cash investments
beginning of year $809,940 · end of year $526,529
-
9 · Prepaid expenses and deferred charges
beginning of year $134 · end of year $6,855
-
10a · Land, buildings and equipment: cost or other basis
$236,119
-
10b · Land, buildings and equipment: accumulated depreciation
$203,229
-
10c · Land, buildings and equipment, net
beginning of year $76,930 · end of year $32,890
-
11 · Investments: publicly traded securities
beginning of year $3,304,636 · end of year $2,622,500
-
14 · Intangible assets
beginning of year $82,392 · end of year $29,798
-
17 · Accounts payable and accrued expenses
beginning of year $218,260 · end of year $115,793
-
23 · Secured mortgages and notes payable
beginning of year $149,900 · end of year $149,900
-
25 · Other liabilities
beginning of year $111,154 · end of year $54,157
-
27 · Net assets without donor restrictions
beginning of year $3,653,796 · end of year $2,845,689
-
28 · Net assets with donor restrictions
beginning of year $225,000 · end of year $159,000
Mission and programs · 2022
Mission
TO STRENGTHEN THE ALBUQUERQUE METROPOLITAN AREA THROUGH THE RECRUITMENT OF BUSINESS AND INDUSTRY, AND BY PROVIDING SUPPORT FOR THE RETENTION AND EXPANSION OF ECONOMIC BASE EMPLOYERS.
-
BUSINESS RECRUITMENT, RETENTION AND EXPANSION: AREA RECRUITS COMPANIES THAT EXPORT THE MAJORITY OF THEIR GOODS AND SERVICES OUTSIDE OF NEW MEXICO, THEREBY BRINGING NEW MONEY INTO THE STATES ECONOMY.BUSINESS DEVELOPMENT: AREA ASSISTS EXISTING LOCAL BUSINESSES WITH THEIR EXPANSION PLANS, HELPING CONNECT THEM TO RESOURCES THAT POSITION THEM FOR GROWTH.
Expenses $1,536,696 · Revenue $140,043
-
MEMBERSHIP RECRUITMENT AND DEVELOPMENT: AREA INVITES LEADING METRO AREA. BUSINESSES TO JOIN THE ORGANIZATION AND TO BE ENGAGED FOR THE ADVANCEMENT OF ITS MISSION. AREA PROVIDES EDUCATIONAL PROGRAMS, TRAINING AND NETWORKING OPPORTUNITIES TO ITS MEMBERSHIP.
Expenses $53,764
As filed on the 2022 return.
Listed in Part VII
-
Danielle CaseyDANIELLE CASEY
PRESIDENT AND CEO
- Total calculated
- $272,891
- From this org
- $272,891
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $272,891
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $272,891
-
Chad R MathesonCHAD R MATHESON
SENIOR VICE PRESIDENT
- Total calculated
- $139,683
- From this org
- $139,683
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Ryan ShellRYAN SHELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ben SpencerBEN SPENCER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ray SmithRAY SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Meg MeisterMEG MEISTER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Tony LenhartTONY LENHART
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Roxanna MeyersROXANNA MEYERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Megan OblackMEGAN OBLACK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mitzi MontoyaMITZI MONTOYA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Janice TorrezJANICE TORREZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jolou Trujillo-OttinoJOLOU TRUJILLO-OTTINO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Debbie JohnsonDEBBIE JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Todd SandmanTODD SANDMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Sally AdamsSALLY ADAMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Don TarryDON TARRY
CHAIR ELECT
- Total calculated
- $0
- Hours/week
- 5
-
Eric WeinsteinERIC WEINSTEIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dan LongDAN LONG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Bill EbelBILL EBEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Leean KravitzLEEAN KRAVITZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ryan CenterwallRYAN CENTERWALL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Phil CasausPHIL CASAUS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Kent CravensKENT CRAVENS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jim ChynowethJIM CHYNOWETH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mike CanfieldMIKE CANFIELD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Kyle BeasleyKYLE BEASLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Tom AntramTOM ANTRAM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
David CampbellDAVID CAMPBELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Celina BusseyCELINA BUSSEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Michelle DearholtMICHELLE DEARHOLT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Howie Herbert IIIHOWIE HERBERT III
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jason HarringtonJASON HARRINGTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Debbie HarmsDEBBIE HARMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Wayne JohnsonWAYNE JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Shad JamesSHAD JAMES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Justin HorwitzJUSTIN HORWITZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Robin DivineROBIN DIVINE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dale DekkerDALE DEKKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Erika EdgerlyERIKA EDGERLY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Caroline GarciaCAROLINE GARCIA
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Josh ParsonsJOSH PARSONS
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Cynthia SchultzCYNTHIA SCHULTZ
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
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
- 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.
-
501C3 · TO SUPPORT ACTIVITIES OF AREA · NM
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 31 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333049349301433
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