Four Corners Economic Development Foundation
- Assets
- $367.4k
- Revenue
- $215.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington, NM
- Founding
- 12/2015
- Data as of
- 06/2022
- EIN
- 85-0171302
Organization Overview
Four Corners Economic Development Foundation is located in Farmington, NM. The organization was established in 2015. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Four Corners Economic Development Foundation 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, Four Corners Economic Development Foundation generated $215.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $269.0k during the year ending 06/2022. 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
PROMOTE GROWTH THROUGH COMMUNITY FUNCTIONS, INDUSTRIAL DEVELOPMENT, AND EDUCATION AND MARKETING ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE GROWTH THROUGH COMMUNITY FUNCTIONS, INDUSTRIAL DEVELOPMENT, AND EDUCATIONAL AND MARKETING ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nate Duckett Secretary/treasurer | OfficerTrustee | 0 | $0 |
Dr Toni Pendergrass President | OfficerTrustee | 0 | $0 |
Tyron Austin Town Of Kirtland Commissioner | Trustee | 0 | $0 |
Terri Fortner San Juan County Commissioner | Trustee | 0 | $0 |
Mark Duncan Town Of Kirtland Mayor | Trustee | 0 | $0 |
Cynthia Atencio City Of Bloomfield Mayor | Trustee | 0 | $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 | $215,404 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $215,404 |
| Total Program Service Revenue | $0 |
| Investment income | $161 |
| 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 | $215,565 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $160,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,926 |
| Advertising and promotion | $0 |
| Office expenses | $271 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $1,864 |
| All other expenses | $0 |
| Total functional expenses | $269,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $343,660 |
| Pledges and grants receivable | $9,750 |
| 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 | $786 |
| Net Land, buildings, and equipment | $13,229 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $367,425 |
| Accounts payable and accrued expenses | $742 |
| 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 | $13,300 |
| Total liabilities | $14,042 |
| Net assets without donor restrictions | $353,383 |
| 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 | $367,425 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Four Corners Economic Development Foundation has recieved totaling $20,037.
| Awarding Organization | Amount |
|---|---|
Merrion Family Foundation Wilmington, DE PURPOSE: WEBSITE ANNUAL FUND, CONSULTING SERVICES TO RAIL PROJECT | $15,000 |
Merrion Family Foundation Wilmington, DE PURPOSE: PROFESSIONAL WOMEN'S SUMMIT | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $37 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
Visit Salt Lake Salt Lake City, UT | $7,092,794 | $14,927,768 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Greater Phoenix Convention & Visitors Bureau Phoenix, AZ | $19,191,750 | $16,242,591 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Greater Phoenix Economic Council Phoenix, AZ | $6,926,984 | $7,545,492 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Cplc Nevada Inc Phoenix, AZ | $8,204,824 | $6,300,794 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |