Greater Gallup Economic Development Corporation is located in Gallup, NM. The organization was established in 2013. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Greater Gallup Economic Development Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Gallup Economic 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, Greater Gallup Economic Development Corporation generated $556.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $625.0k during the year ending 06/2023. While expenses have increased by 11.2% per year over the past 8 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
TO DRIVE ECONOMIC GROWTH THROUGH BUILDING ON LOCAL ASSETS AND STRATEGIC PARTNERING TO TARGET ATTRACTION AND RECRUITMENT OF BUSINESS AND INDUSTRIAL EMPLOYERS THAT PROVIDE ECONOMIC-BASE JOBS IN THE GALLUP-MCKINLEY COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GGEDC ACCOMPLISHMENTS (JUNE 30, 2022 TO JULY 31, 2023)GGEDC CONTINUED TO COORDINATE AND LEAD DEVELOPMENT EFFORTS RELATED TO THE DEVELOPMENT OF A HYDROGEN ECONOMY AND END-USER BUSINESSES FOR THE STATE OF NEW MEXICO INCLUDING NORTHWEST NEW MEXICO AND THE AREA AROUND THE ESCALANTE GENERATING STATION KNOWN AS THE PREWITT INDUSTRIAL PARK. GGEDC HOSTED AN ECONOMIC ROUNDTABLE EXAMINING ECONOMIC OPPORTUNITIES FOR THE STATE OF NEW MEXICO AND THE PREWITT INDUSTRIAL PARK ASSOCIATED WITH THE WESTERN INTER-STATES HYDROGEN HUB (WISHH) PROPOSAL. GGEDC FACILITATED STRATEGY SESSIONS ARE EXAMINING INFRASTRUCTURE AVAILABILITY FOR THE AREA IN AND AROUND THE PREWITT INDUSTRIAL PARK AND ESCALANTE GENERATING STATION. ENGAGEMENT WITH PUBLIC AND PRIVATE STAKEHOLDERS INCLUDING ECONOMIC DEVELOPMENT SITE SELECTORS REMAINS ONGOING. GGEDC-LED EFFORTS HAVE CULMINATED IN PARTNERS AGREEING JOINTLY TO FUND DEVELOPMENT OF A MASTER DESIGN FOR THE PREWITT INDUSTRIAL PARK. GGEDC IN SERVING AS PROJECT MANAGER SUCCESSFULLY IMPLEMENTED AND CLOSED OUT A 600,000 US EDA PLANNING GRANT INTENDED TO SUPPORT EFFORTS TO ESTABLISH A FOREIGN TRADE ZONE / USER FEE AIRPORT IN GALLUP, NM, INCLUDING OVERSIGHT OF LEGAL CONSULTANTS, MILLER & CO, WHO WERE TASKED WITH FORMAL APPLICATION DEVELOPMENT. EFFORTS FOCUSED ON APPLICATION DEVELOPMENT INCLUDING CONSULTATION WITH US CUSTOMS AND BORDER PROTECTION (CBP) REGARDING FACILITY REQUIREMENTS AND IDENTIFYING BUSINESSES IN THE COMMUNITY WHICH RELY ON THE IMPORTS AND EXPORTS OF MATERIALS AND GOODS TO GENERATE SALES AND REVENUE. COMMUNITY EDUCATION INCLUDED GGEDC-HOSTED LUNCH AND LEARN EVENTS, VIDEO PRESENTATIONS FROM MILLER & CO., DIGITAL AND PRINT MARKETING, AND DIRECT BUSINESS OUTREACH. A SUCCESSFUL US EDA PLANNING GRANT RESULTED IN NMDOT AWARDING 1M TO THE CITY OF GALLUP TO, AMONG OTHER DELIVERABLES, CONTINUE FTZ/UFA EFFORTS. GGEDC IN SERVING AS PROJECT MANAGER SUCCESSFULLY IMPLEMENTED AND CLOSED OUT A 600,000 US EDA PLANNING GRANT INTENDED TO SUPPORT EFFORTS TO ESTABLISH A MOBILITY INVESTMENT DISTRICT IN GALLUP-MCKINLEY COUNTY CONSISTING OF AN AUTONOMOUS VEHICLE TEST TRACK AND HYDROGEN FUELING STATIONS, TO SUPPORT THE DEPLOYMENT OF CARBONLESS, AUTONOMOUS TRUCKS TO MOVE FREIGHT FROM THE SEAPORTS OF CALIFORNIA TO THE INLAND PORT OF GALLUP, NM. EFFORTS FOCUSED ON ANALYSIS OF POTENTIAL SITES FOR DEVELOPMENT INCLUDING REVIEW OF UTILITY AND INFRASTRUCTURE CAPACITY AND AVAILABILITY TO DEVELOP PRELIMINARY CONSTRUCTION COST ESTIMATES. PARTNERSHIP DEVELOPMENT INCLUDED ENGAGEMENT WITH PRIVATE, PUBLIC, RESEARCH, ACADEMIC, AND SITE SELECTORS TO BUILD AWARENESS AND ENGAGEMENT. A SUCCESSFUL US EDA PLANNING GRANT RESULTED IN NMDOT AWARDING 4M TO MCKINLEY COUNTY TO CONTINUE DEVELOPMENT OF THE GALLUP MOBILITY INVESTMENT DISTRICT. GGEDC IN SERVING AS PROJECT MANAGER SUCCESSFULLY IMPLEMENTED AND CLOSED OUT A 600,000 US EDA PLANNING GRANT INTENDED TO RETURN AIR PASSENGER SERVICE TO THE GALLUP MUNICIPAL AIRPORT THROUGH DEVELOPMENT OF A AIR MARKET FEASIBILITY STUDY AND DEVELOPMENT OF A PRELIMINARY ENGINEERING REPORT FOR THE GALLUP MUNICIPAL AIRPORT TERMINAL, TO SUPPORT FTZ/UFA AND GALLUP MOBILITY INVESTMENT DISTRICT EFFORTS. EFFORTS FOCUSED ON ANALYZING NEW CONSTRUCTION VERSUS REHABILITATION AS WELL AS RECONFIGURATION OF SITE PLAN TO ACCOMMODATE INCREASED COMMERCIAL PASSENGER TRAFFIC AND A PRESENCE FROM US CUSTOMS AND BORDER PROTECTION (CBP). A SUCCESSFUL US EDA PLANNING GRANT RESULTED IN NMDOT AWARDING 1M TO THE CITY OF GALLUP TO, AMONG OTHER DELIVERABLES, CONTINUE TERMINAL DESIGN AND ENGINEERING. GGEDC CONTINUED BUSINESS ATTRACTION AND RECRUITMENT EFFORTS WITH ATTENDANCE AT THE IMTS TRADE SHOW WITH THE NM PARTNERSHIP, TRI-STATE G&TA, AND MCKINLEY COUNTY; DALLAS SALES MISSION;. PROMAT TRADE SHOW; CHICAGO SALES MISSION; BREAKBULK TRADESHOW;SELECTUSA TRADE SHOW; WORLD HYDROGEN NORTH AMERICA, AND THE GLOBAL ENERGY SHOW. IN ADDITION, THE GGEDC SUCCESSFULLY HOSTED A NM FAM TOUR FOR ECONOMIC DEVELOPMENT SITE SELECTORS AND RECEIVED A LEADS GRANT FROM THE NMEDD TO CONTINUE BUSINESS ATTRACTION AND RECRUITMENT EFFORTS. AS A RESULT OF THE FAM TOUR, GGEDC IS CURRENTLY WORKING UNDER A NDA WITH INTELLECTUAL DYNAMICS CORP REGARDING POTENTIAL REPURPOSING OF THE MARATHON GALLUP REFINERY. GGEDC CONTINUED ITS AWARD WINNING BUSINESS AND RETENTION PROGRAM, CONDUCTING SEMI-ANNUAL INTERVIEWS WITH KEY ECONOMIC BASE EMPLOYERS INCLUDING PEABODY ENERGY - EL SEGUNDO COAL MINE, TRI-STATE GENERATION AND TRANSMISSION ASSOCIATION - ESCALANTE GENERATING STATION, CONTINENTAL DIVIDE ELECTRIC COOPERATIVE, RHINO HEALTH, BHP, RMCHCS, SACRED WIND, KINDER MORGAN / EL PASO NATURAL GAS, ADVANCED AIR, BNSF RAILWAY, AND MCKINLEY PAPER. DURING THE 2023 BRE ANNUAL LUNCHEON, BNSF RAILWAY WAS RECOGNIZED FOR ITS ECONOMIC CONTRIBUTIONS TO THE REGION. GGEDC REMAINS ENGAGED IN COLLABORATIVE DISCUSSIONS WITH MCKINLEY PAPER REGARDING POTENTIAL HYDROGEN DEMONSTRATION PILOTS. GGEDC CONTINUED RECRUITMENT OF COLES GRAY, A MAJOR STEEL MANUFACTURING COMPANY LOOKING TO SET UP A FACILITY IN THE GALLUP ENERGY LOGISTICS PARK. THE PROJECT REPRESENTS A POTENTIAL INVESTMENT OF 500M AND THE CREATION OF 400 JOBS. GGEDC EFFORTS HAVE FOCUSED ON CONSENSUS BUILDING REGARDING UTILITY, INFRASTRUCTURE, AND LAND USE SUPPORT. GGEDC WAS RECOGNIZED AS A CERTIFIED ECONOMIC DEVELOPMENT ORGANIZATION BY THE NM ECONOMIC DEVELOPMENT DEPARTMENT (NMEDD). LASTLY, THE GGEDC SUCCESSFULLY RESPONDED TO AN RFP FROM MCKINLEY COUNTY FOR ECONOMIC DEVELOPMENT SERVICES, SECURING A NEW FOUR-YEAR AGREEMENT. GGEDC CELEBRATED THE COMPLETION OF CARBON COAL ROAD, A 30M ROAD WHICH WILL CONNECT US HWY 491 TO THE GALLUP ENERGY LOGISTICS PARK. GGEDC CONTINUED TO SUPPORT THE GREATER GALLUP INDUSTRIAL WORKFORCE PROGRAM BY PROVIDING TECHNICAL ASSISTANCE TO THE SOUTHWEST INDIAN FOUNDATION (SWIF) ON PROGRAM MANAGEMENT AND RESOURCE DEVELOPMENT. GGEDC SERVED AS HOST FOR TWO (2) INTERN FELLOWS FROM THE NEW MEXICO STATE UNIVERSITY (NMSU)DOCTORATE OF ECONOMIC DEVELOPMENT (DED) PROGRAM. THE INTERN FELLOWS PERFORMED TECHNICAL ANALYSIS INCLUDING DEVELOPMENT OF A BUSINESS COST ANALYSIS AND WORKFORCE SUMMARY REVIEW.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Tommy Haws President | OfficerTrustee | 2 | $0 |
Rick Murphy Vice-Preside | OfficerTrustee | 2 | $0 |
Joe Mesich Treasurer | OfficerTrustee | 2 | $0 |
Kent Wilson Secretary | OfficerTrustee | 2 | $0 |
Yogash Kumar Director | Trustee | 2 | $0 |
Kevin Taira Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $506,553 |
All other contributions, gifts, grants, and similar amounts not included above | $37,365 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $543,918 |
Total Program Service Revenue | $0 |
Investment income | $11,079 |
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 | $556,145 |
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. | $139,156 |
Compensation of current officers, directors, key employees. | $62,620 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $154,954 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $15,065 |
Payroll taxes | $23,141 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $9,656 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $122,541 |
Advertising and promotion | $28,396 |
Office expenses | $20,390 |
Information technology | $8,356 |
Royalties | $0 |
Occupancy | $20,415 |
Travel | $38,971 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $35,826 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,060 |
Insurance | $5,442 |
All other expenses | $0 |
Total functional expenses | $625,000 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $518,948 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $3,025 |
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 | $1,607 |
Net Land, buildings, and equipment | $4,578 |
Investments—publicly traded securities | $592,288 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $764,891 |
Total assets | $1,885,337 |
Accounts payable and accrued expenses | $8,335 |
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 | $0 |
Other liabilities | $12,259 |
Total liabilities | $20,594 |
Net assets without donor restrictions | $1,864,743 |
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 | $1,885,337 |