Lobo Development Corporation
- Assets
- $28.7m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Albuquerque, NM
- Founding
- 01/2010
- Data as of
- 06/2023
- EIN
- 42-1759020
Organization Overview
Lobo Development Corporation is located in Albuquerque, NM. The organization was established in 2010. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, Lobo Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lobo Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Lobo Development Corporation generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2023. 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
THE ACTIVITIES OF LOBO DEVELOPMENT CORPORATION INCLUDE THE ACQUISITION, DEVELOPMENT, DISPOSITION AND RENTAL OF REAL ESTATE FOR THE BENEFIT OF THE UNIVERSITY OF NEW MEXICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES INCLUDE ACQUISITION, DEVELOPMENT, DISPOSITION AND RENTAL OF UNIVERSITY REAL ESTATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Payne Chair | OfficerTrustee | 1 | $0 |
Stephen J Ciepiela Vice Chair | OfficerTrustee | 1 | $0 |
Teresa Costantinidis Chief Executive Officer | OfficerTrustee | 1 | $0 |
Louis Abruzzo Director | Trustee | 1 | $0 |
Paul Blanchard Director | Trustee | 1 | $0 |
Maria Griego-Raby Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sherman & Howard Llc Legal Services | 6/29/23 | $209,909 |
Altura Real Estate Llc Development Consulting Services | 6/29/23 | $121,837 |
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 | $2,425,334 |
| Investment income | $310,893 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,736,227 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $336,520 |
| Pension plan accruals and contributions | $15,991 |
| Other employee benefits | $40,355 |
| Payroll taxes | $30,085 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $56,603 |
| Fees for services: Accounting | $35,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,692 |
| Advertising and promotion | $0 |
| Office expenses | $52,796 |
| Information technology | $21,239 |
| Royalties | $0 |
| Occupancy | $401,957 |
| Travel | $8,624 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $600,000 |
| Depreciation, depletion, and amortization | $503,240 |
| Insurance | $90,244 |
| All other expenses | $5,082 |
| Total functional expenses | $2,341,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $435,084 |
| Savings and temporary cash investments | $2,931,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,000 |
| 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 | $413 |
| Net Land, buildings, and equipment | $16,842,481 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,431,604 |
| Total assets | $28,676,195 |
| Accounts payable and accrued expenses | $36,922 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $341,433 |
| Other liabilities | $20,283,885 |
| Total liabilities | $20,662,240 |
| Net assets without donor restrictions | $8,013,955 |
| 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 | $28,676,195 |