Regional Development Corporation
- Assets
- $1.5m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Santa Fe, NM
- Founding
- 05/1998
- Data as of
- 06/2022
- EIN
- 74-2805791
Organization Overview
Regional Development Corporation is located in Santa Fe, NM. The organization was established in 1998. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Regional Development Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional 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 06/2022, Regional Development Corporation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $866.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Regional Development Corporation has awarded 120 individual grants totaling $2,329,273. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE REGIONAL DEVELOPMENT CORPORATION (RDC) IS A PRIVATE NON-PROFIT 501(C) (3) ORGANIZATION DEDICATED TO IMPROVING ECONOMIC DEVELOPMENT IN NORTHERN NEW MEXICO. RDC PROVIDES PRIVATE INVESTMENT OPPORTUNITIES AND TECHNICAL ASSISTANCE TO FACILITATE JOB GROWTH AND DIVERSIFY THE ECONOMIES OF COMMUNITIES IN THE FOLLOWING SEVEN COUNTIES: LOS ALAMOS, MORA, RIO ARRIBA, SANDOVAL, SAN MIGUEL, SANTA FE, TAOS, AND THE MUNICIPALITIES AND NATIVE AMERICAN PUEBLOS THEREIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONAL DEVELOPMENT CORPORATION INITIATIVES INCLUDE BUSINESS RETENTION & EXPANSION WHICH PROVIDES ONE-ON-ONE TECHNICAL ASSISTANCE SERVICES TO CURRENT AND FUTURE BUSINESS OWNERS FREE OF CHARGE. THIS INITIATIVE INCLUDES FUNDING OPPORTUNITIES TO HELP DIVERSIFY THE LOCAL ECONOMIES IN NORTHERN NEW MEXICO OUTSIDE OF LOS ALAMOS NATIONAL LABORATORY INTERESTS. OTHER INITIATIVES INCLUDE THE WORKFORCE AND ACADEMIC NETWORK PILOT PROJECT TO CONVENE INDUSTRY AND ACADEMIC STATEKHOLDERS IN ORDER TO HELP JOB SEEKERS AND STUDENTS MORE EASILY ACCESS TRAINING AND EDUCATION FOR THE CONSTRUCTION INDUSTRY IN NORTHERN NEW MEXICO AND THE HIGHER EDUCATION WORKFORCE PROJECT WHICH IS A PARTNERSHIP BETWEEN RDC AND NORTHERN NEW MEXICO HIGHER EDUCATION INSTITUTIONS TO IDENTIFY TRAINING NEEDS AND DEVELOP A WELL-EDUCATED WORKFORCE IN THE REGION. THESE INITIATIVES ARE LARGELY FUNDED BY TRIAD NATIONAL SECURITY, LLC (TRIAD), THE COMPANY THAT MANAGES LOS ALAMOS NATIONAL LABORATORY. RDC'S INITIATIVES CONTINUED TO STIMULATE ECONOMIC DIVERSIFICATION AND DEVELOPMENT IN NORTHERN NEW MEXICO THROUGH CREATION OF NEW JOBS, LESSENING THE IMPACT OF REDUCTIONS AT LOS ALAMOS NATIONAL LABS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valentine Alonzo Exec. Direct | Officer | 40 | $117,000 |
Jennifer Jenkins Chair | OfficerTrustee | 2 | $0 |
Jack Jekowski Secretary | OfficerTrustee | 2 | $0 |
Kristin Henderson Vice Chair | OfficerTrustee | 2 | $0 |
Everett Trujillo Treasurer | OfficerTrustee | 2 | $0 |
Linda Mclellan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $187,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $850,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,037,756 |
| Total Program Service Revenue | $0 |
| Investment income | $438 |
| 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 | $1,038,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $383,174 |
| 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. | $134,550 |
| Compensation of current officers, directors, key employees. | $15,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $190,727 |
| Pension plan accruals and contributions | $10,754 |
| Other employee benefits | $1,118 |
| Payroll taxes | $24,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,941 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,001 |
| Advertising and promotion | $20,418 |
| Office expenses | $14,470 |
| Information technology | $5,757 |
| Royalties | $0 |
| Occupancy | $9,355 |
| Travel | $6,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,356 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,457 |
| Insurance | $2,913 |
| All other expenses | $0 |
| Total functional expenses | $866,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,465 |
| Savings and temporary cash investments | $1,257,204 |
| Pledges and grants receivable | $42,510 |
| Accounts receivable, net | $0 |
| 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 | $4,996 |
| Net Land, buildings, and equipment | $11,798 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,502,973 |
| Accounts payable and accrued expenses | $60,928 |
| 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 | $51,820 |
| Total liabilities | $112,748 |
| Net assets without donor restrictions | $539,449 |
| Net assets with donor restrictions | $850,776 |
| 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 | $1,502,973 |
Grants Awarded
Over the last fiscal year, Regional Development Corporation has awarded $250,948 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Espanola, NM PURPOSE: WORKFORCE TRAINING | $40,000 |
SFCC FOUNDATION PURPOSE: GRANT | $40,000 |
UNIVERSITY OF NEW MEXICO LOS ALAMOS PURPOSE: WORKFORCE TRAINING | $34,300 |
NORTH CENTRAL NM ECONOMICDEVELOPMENT PURPOSE: GRANT | $29,000 |
UNIVERSITY OF NEW MEXICO - TAOS PURPOSE: GRANT | $20,000 |
FISHSKI PURPOSE: GRANT | $18,328 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Regional Development Corporation has recieved totaling $701,959.
| Awarding Organization | Amount |
|---|---|
Battelle Memorial Institute Columbus, OH PURPOSE: GENERAL OPERATING SUPPORT | $701,959 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Onestar Foundation Austin, TX | $2,630,311 | $19,496,828 |
Las Colinas Association Irving, TX | $32,652,078 | $16,281,459 |
Downtown Fort Worth Inc Fort Worth, TX | $1,699,002 | $9,582,702 |
Native Americans For Community Action Inc Flagstaff, AZ | $13,508,728 | $5,982,716 |
Project Angel Heart Denver, CO | $8,549,323 | $6,509,921 |
Texas Retired Teachers Association Austin, TX | $11,866,847 | $5,873,069 |
Childrens Charity Houston, TX | $1,357,156 | $4,121,015 |
Southwest District Kiwanis Foundation Carefree, AZ | $3,902,018 | $3,838,305 |
Georgetown Caring Place Georgetown, TX | $4,842,347 | $3,321,334 |
The Onestar Foundation Austin, TX | $2,465,909 | $3,375,276 |
Maria Droste Services Of Colorado Denver, CO | $1,126,032 | $2,807,216 |
Saheli Austin, TX | $538,210 | $2,600,715 |