Cnm Ingenuity Incoproration
- Assets
- $28.4m
- Revenue
- $8.8m
- Investments
- $40.0k
- Employees
- 256
- Location
- Albuquerque, NM
- Founding
- 05/2015
- Data as of
- 06/2021
- EIN
- 46-5131171
Organization Overview
Cnm Ingenuity Incoproration is located in Albuquerque, NM. The organization was established in 2015. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Cnm Ingenuity Incoproration employed 256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cnm Ingenuity Incoproration 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 06/2021, Cnm Ingenuity Incoproration generated $8.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.4% each year . All expenses for the organization totaled $7.6m during the year ending 06/2021. While expenses have increased by 16.0% 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.
Since 2017, Cnm Ingenuity Incoproration has awarded 14 individual grants totaling $1,442,759. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF CNM INGENUITY INC. IS TO PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF INDIVIDUALS AND TO FOSTER ECONOMIC DEVELOPMENT WITHIN BOTH THE PRIVATE AND PUBLIC SECTORS. CNM INGENUITY INC. ACCOMPLISHES THIS PURPOSE BY FORGING LINKS BETWEEN EDUCATIONAL INSTITUTIONS, BUSINESSES, INDUSTRIES, AND GOVERNMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE THE PUBLIC WELFARE AND PROSPERITY OF THE PEOPLE OF NEW MEXICO AND FOSTER ECONOMIC DEVELOPMENT WITHIN BOTH THE PRIVATE AND PUBLIC SECTORS OF THE NEW MEXICO COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorna Wiggins President | OfficerTrustee | 0.5 | $0 |
Olivia Padilla-Jackson Treasurer | OfficerTrustee | 0.5 | $0 |
Kyle Lee Secretary | OfficerTrustee | 0.5 | $0 |
Tracy Hartzler Member | Trustee | 0.5 | $0 |
Bill Miera Member | Trustee | 0.5 | $0 |
Dominic Pruitt Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,938,919 |
| Investment income | $306,841 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,592 |
| Net Gain/Loss on Asset Sales | $887,837 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,804,257 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,570,708 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $2,790,629 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $804,632 |
| Payroll taxes | $26,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,524 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,010,497 |
| Advertising and promotion | $372,737 |
| Office expenses | $40,014 |
| Information technology | $0 |
| Royalties | $24,315 |
| Occupancy | $187,666 |
| Travel | $710 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $215,423 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,624,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $943,734 |
| Savings and temporary cash investments | $3,738,254 |
| Pledges and grants receivable | $641,836 |
| Accounts receivable, net | $443,111 |
| 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 | $255,041 |
| Investments—publicly traded securities | $17,148,094 |
| Investments—other securities | $40,002 |
| Investments—program-related | $0 |
| Intangible assets | $90,000 |
| Other assets | $0 |
| Total assets | $28,405,535 |
| Accounts payable and accrued expenses | $1,212,543 |
| Grants payable | $0 |
| Deferred revenue | $274,273 |
| 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 | $711,508 |
| Total liabilities | $2,198,324 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $26,207,211 |
Grants Awarded
Over the last fiscal year, Cnm Ingenuity Incoproration has awarded $339,507 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRAL NM COMMUNITY COLLEGE PURPOSE: Labor and benefits | $254,244 |
UNM FOUNDATION PURPOSE: Labor and benefits | $85,263 |