New Mexico Automotive Dealers Association
- Assets
- $551.9k
- Revenue
- $515.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Albuquerque, NM
- Founding
- 03/1965
- Data as of
- 12/2022
- EIN
- 85-0098960
Organization Overview
New Mexico Automotive Dealers Association is located in Albuquerque, NM. The organization was established in 1965. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, New Mexico Automotive Dealers Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Automotive Dealers Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, New Mexico Automotive Dealers Association generated $515.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $489.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.2%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES OPERATIONAL AND LEGISLATIVE SUPPORT SERVICES FOR NEW CAR AND TRUCK DEALERS IN NM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORS (1) AUTOCAP - A DISPUTE RESOLUTION SERVICE FOR CAR BUYERS AND DEALERS; AND (2) THE DEALER ADVERTISEMENT REVIEW COMMITTEE - A PROGRAM OFFERING ADVERTISING GUIDELINES. IN 2022, APPROXIMATELY 24 PEOPLE PARTICIPATED IN THE AUTOCAP PROGRAM.
SPONSORS A CONVENTION TO UPDATE AUTO DEALERS ON RECENT OPERATIONAL, LEGAL AND REGULATORY CHANGES AFFECTING THE INDUSTRY. IN 2022, APPROXIMATELY 120 PEOPLE ATTENDED THE CONVENTION.
ADVISES NEW MEXICO AUTO DEALERS ON ALL ISSUES AFFECTING THE OPERATION OF NEW CAR DEALERSHIPS AND PUBLISHES AN INFORMATIONAL NEWSLETTER FOR ITS MEMBERS. ALSO, THE ORGANIZATION LOBBYS THE STATE LEGISLATURE ON BILLS THAT PROMOTES AND SUPPORTS AUTO DEALERSHIPS. IN 2022, THE ORGANIZATION HAD APPROXIMATELY 108 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Perry Webb II Chairman | OfficerTrustee | 2 | $0 |
Derek Kulach Vice Chairman | OfficerTrustee | 2 | $0 |
Brady Lovelady Secretary/treasurer | OfficerTrustee | 2 | $0 |
David Dilorenzo Immediate Past Chair | OfficerTrustee | 2 | $0 |
Thomas Hawkins Regional Director | Trustee | 2 | $0 |
Buddy Espinosa Regional Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $423,072 |
| Investment income | $102,772 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,886 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $514,958 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $245 |
| 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. | $120,728 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,612 |
| Pension plan accruals and contributions | $2,390 |
| Other employee benefits | $3,321 |
| Payroll taxes | $9,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,451 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $42,797 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,965 |
| Fees for services: Other | $28,984 |
| Advertising and promotion | $4,630 |
| Office expenses | $30,043 |
| Information technology | $5,793 |
| Royalties | $0 |
| Occupancy | $6,523 |
| Travel | $12,329 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $112,042 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,657 |
| Insurance | $13,394 |
| All other expenses | $0 |
| Total functional expenses | $489,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,525 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,491 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,954 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $378,110 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,155 |
| Total assets | $551,948 |
| Accounts payable and accrued expenses | $15,148 |
| 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 | $608 |
| Other liabilities | $10,505 |
| Total liabilities | $26,261 |
| Net assets without donor restrictions | $525,687 |
| 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 | $551,948 |