First Southwest Community Fund
- Assets
- $22.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Alamosa, CO
- Founding
- 06/2015
- Data as of
- 12/2023
- EIN
- 47-3061703
Organization Overview
First Southwest Community Fund is located in Alamosa, CO. The organization was established in 2015. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, First Southwest Community Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Southwest Community Fund 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 12/2023, First Southwest Community Fund generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. 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
FIRST SOUTHWEST COMMUNITY FUND SUPPORTS THE DEDICATED ENTREPRENEURIAL SPIRIT OF RURAL COLORADO, BY INVESTING IN THE PEOPLE, CULTURE AND IDEAS THAT FUEL INNOVATION AND FINANCIAL KNOWLEDGE IN OUR COMMUNITY, WITH AN EMPHASIS ON AREAS OF GREATEST NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USDA-IRP- FUNDS RECEIVED IN THE FORM OF A LOAN FROM THE US DEPARTMENT OF AGRICULTURE TO FUND A REVOLVING LOAN PROGRAM THAT ENCOURAGES ECONOMIC DEVELOPMENT BY PROVIDING FUNDING FOR SMALL BUSINESSES AND AGRICULTURAL PRODUCERS THAT MAY NOT QUALIFY FOR CONVENTIONAL LOANS, SUPPORT PROJECTS THAT PROVIDE INFRASTRUCTURE AND TECHNOLOGY IN RURAL COMMUNITIES THAT LEAD TO NEW BUSINESS AND JOB CREATION, AND ALLEVIATE POVERTY IN LOW-INCOME COMMUNITIES BY PROVIDING OPPORTUNITIES FOR HIGHER WAGE JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Azarel Madrigal Executive Dir. | Officer | 40 | $103,446 |
Kent Curtis President | OfficerTrustee | 2 | $0 |
Christie Spears Secretary | OfficerTrustee | 1 | $0 |
Dr Beverlee Mcclure Director | Trustee | 2 | $0 |
Liza Marron Director | Trustee | 1 | $0 |
Ty Coleman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,664,784 |
| All other contributions, gifts, grants, and similar amounts not included above | $288 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,665,072 |
| Total Program Service Revenue | $0 |
| Investment income | $581,296 |
| 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 | $3,246,368 |
| 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. | $103,446 |
| Compensation of current officers, directors, key employees. | $34,137 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $136,331 |
| Pension plan accruals and contributions | $6,588 |
| Other employee benefits | $32,400 |
| Payroll taxes | $18,687 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,365 |
| 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 | $0 |
| Advertising and promotion | $18,878 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $87,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,233 |
| All other expenses | $89,009 |
| Total functional expenses | $1,547,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $333,332 |
| Savings and temporary cash investments | $7,996,595 |
| Pledges and grants receivable | $13,491,174 |
| Accounts receivable, net | $147,664 |
| 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 | $900 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $95,132 |
| Total assets | $22,064,797 |
| Accounts payable and accrued expenses | $171,046 |
| Grants payable | $0 |
| Deferred revenue | $1,063,043 |
| 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 | $17,967,487 |
| Total liabilities | $19,201,576 |
| Net assets without donor restrictions | -$59,270 |
| Net assets with donor restrictions | $2,922,491 |
| 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 | $22,064,797 |