Clovis Industrial Development Corp
- Assets
- $2.6m
- Revenue
- $524.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Clovis, NM
- Founding
- 04/1973
- Data as of
- 06/2023
- EIN
- 23-7262253
Organization Overview
Clovis Industrial Development Corp is located in Clovis, NM. The organization was established in 1973. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Clovis Industrial Development Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clovis Industrial Development Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Clovis Industrial Development Corp generated $524.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $408.2k during the year ending 06/2023. While expenses have increased by 3.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT OF CLOVIS AND SURROUNDING AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUSINESS RETENTION AND EXPANSION PROGRAM (BREP): THE BREP COMMITTEE WORKS WITH FIRMS AND LOCAL LEADERS TO RESPOND TO INDUSTRY NEEDS. CED ALSO OPERATES THE CLOVIS BUSINESS INCUBATOR CENTER, WHICH OFFERS SMALL BUSINESS TRAINING, ENTREPRENEUR, AND START-UP SUPPORT THROUGH OUR PARTNERSHIP WITH THE CHAMBER, CLOVIS SBDC, AND PTAP PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Malloy President | OfficerTrustee | 3 | $0 |
Gary Wiley Vice President | OfficerTrustee | 2 | $0 |
Kent Carruthers Sec/treasurer | OfficerTrustee | 2 | $0 |
Tina Dziuk Executive Director | OfficerTrustee | 40 | $45,167 |
Alissa Jones Director | Trustee | 1 | $0 |
Bryce Bender Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $520,104 |
| Investment income | $5,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$630 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $524,513 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,544 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,167 |
| Compensation of current officers, directors, key employees. | $8,217 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,231 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,132 |
| Payroll taxes | $18,584 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,972 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,617 |
| Advertising and promotion | $43,316 |
| Office expenses | $15,617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,725 |
| Travel | $6,062 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,601 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,405 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $408,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,193 |
| Savings and temporary cash investments | $594,945 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,590,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $173,517 |
| Total assets | $2,628,460 |
| Accounts payable and accrued expenses | $5,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $502,513 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $127 |
| Total liabilities | $507,640 |
| Net assets without donor restrictions | $2,120,820 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,628,460 |