New Horizons Foundation
- Assets
- $801.0k
- Revenue
- $350.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 03/2013
- Data as of
- 06/2022
- EIN
- 45-3751544
Organization Overview
New Horizons Foundation is located in Hobbs, NM. The organization was established in 2013. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Horizons Foundation 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 06/2022, New Horizons Foundation generated $350.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.3%) each year. All expenses for the organization totaled $269.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (19.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING THE ONGOING USE AND APPLICATION OF THE MASTER COOPERATIVE RESEARCH AND DEVELOPMENT AGREEMENT (CRADA) WITH THE U.S. ARMY RESEARCH LABORATORY SYSTEM (ARL) AND THE U.S. ARMY RESEARCH, DEVELOPMENT, AND ENGINEERING CENTER (ARDEC), TO LICENSE TECHNOLOGIES AND ACCESS CAPABILITIES FROM WITHIN THE LABS.
FUNDING FOR THE TECHNOLOGY TRANSFER TEAM OF PROFESSIONALS WHO POSSESS A WIDE RANGE OF SKILS AND EXPERTISE THAT GIVES SOUTHEASTERN NEW MEXICO CAPABILITIES THAT HAVE NEVER BEEN AVAILABLE FOR KNOWLEDGE-BASED ECONOMIC DEVELOPMENT BEFORE.
FUNDING THE OPERATIONS AND CAPABILITIES AT THE DOD LABS AND WITHIN LEA COUNTY TO COMMERCIALIZE TECHNOLOGIES LICENSED FROM WITHIN THE DOD LAB NETWORK OR DISCOVERED BY ENTREPRENEURS WHO LIVE IN THE PERMIAN BASIN.
FUNDING THE ONGOING EDUCATION OF THE CITIZENS OF THE LEA COUNTY, SOUTHEASTERN NEW MEXICO, AND THE PERMIAN BASIN AS TO WHAT "KNOWLEDGE-BASED" ECOMONIC DEVELOPEMENT IS AND THE VALUE IT POSSESSES FOR THE FUTURE. .
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg Fulfer Director | 1.5 | $0 | |
Guy Kesner Director | 1.5 | $0 | |
Tres Hicks Director | 1.5 | $0 | |
Dennis Holmberg Executive Director | 20 | $65,000 | |
Jeff Mccool Cheif Executive Officer | 15 | $6,750 | |
Tina Kunko Accountant | 3 | $6,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
P&f Holdings Llc | 6/29/20 | $240,000 |
Technology Commercialization Advisors Llc | 6/29/20 | $108,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $350,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $350,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $78,950 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $12,054 |
| Interest | $0 |
| Taxes | $7,579 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,819 |
| Printing and publications | $0 |
| Other expenses | $51,336 |
| Total operating and administrative expenses | $269,786 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $269,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193,718 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $516,420 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,704 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $78,137 |
| Total assets | $800,979 |
| Accounts payable and accrued expenses | $15,432 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,432 |