Southeastern New Mexico Economic Development District
- Assets
- $390.8k
- Revenue
- $662.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Roswell, NM
- Founding
- 10/1983
- Data as of
- 06/2023
- EIN
- 85-0214427
Organization Overview
Southeastern New Mexico Economic Development District is located in Roswell, NM. The organization was established in 1983. 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. As of 06/2023, Southeastern New Mexico Economic Development District employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern New Mexico Economic Development District 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 06/2023, Southeastern New Mexico Economic Development District generated $662.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $808.3k during the year ending 06/2023. While expenses have increased by 2.8% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FUNDAMENTAL MISSION OF THE SNMEDD IS TO STRENGTHEN THE REGIONAL ECONOMIC BASE, WHICH IS RESPONSIBLE FOR PROVIDING QUALITY JOBS TO AREA RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DISTRICT PROVIDES MEMBER GOVERNMENT UNITS THE OPPORTUNITY TO WORK WITH REPRESENTATIVES OF FEDERAL AND STATE AGENCIES, MAJOR ECONOMIC INTERESTS, AND CITIZEN GROUPS TO PLAN FOR FUTURE ECONOMIC DEVELOPMENT. THE DISTRICT ACCOMPLISHES THIS THROUGH INFORMATION DISSEMINATION, AREA WIDE AND LOCAL PLANNING, DIRECT TECHNICAL ASSISTANCE, INTERGOVERNMENTAL COORDINATION, AND TRAINING. ONE OF THE MOST IMPORTANT FUNCTIONS OF THE ORGANIZATION INVOLVES THE OPTIMAL UTILIZATION OF REGIONAL CAPABILITIES. PROJECTS INCLUDED ARE SOLID WASTE, WATER AND SEWER SYSTEM IMPROVEMENTS, BUSINESS RETENTION, BUSINESS ASSISTANCE, JOB DEVELOPMENT AND ASSISTANCE, PUBLIC BUILDINGS AND TRANSPORTATION RELATED INITIATIVES. THE DISTRICT ALSO HELPS MEMBER GOVERNMENTS WITH PLANNING OF MAJOR CAPITAL INPROVEMENTS, PROCURING FEDERAL AND STATE AID FOR NEEDED CAPITAL INFRASTRUCTURE PROJECTS AND CAPACITY BUILDING AND TECHNICAL ASSISTANCE. THE ORGANIZATION SERVES ALL 26 LOCAL GOVERNMENTS IN SOUTHEASTERN NEW MEXICO AND ALSO PROVIDES SERVICES TO NEARLY 60 WATER CO-OPS, MUTUAL DOMESTIC WATER ASSOCIATIONS, AND WATER AND SANITATION DISTRICTS IN THE REGION. THROUGH LOCAL GOVERNEMNTS, THE ORGANIZATION SERVES APPROXIMATELY 250,000 CLIENTS ANNUALLY. EVERY YEAR THE ORGANIZATION PRODUCES A NEW COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY FOR SOUTHEASTERN NEW MEXICO. THROUGH THE ECONOMIC DEVELOPMENT PROGRAM, THE ORGANIZATION COMPLETED PROJECTS FOR THE CITY OF ARTESIA, TOWN OF LAKE ARTHUR, CITY OF RUIDOSO DOWNS, CHAVES COUNTY, CITY OF ROSWELL, LINCOLN COUNTY, TOWN OF TATUM, VILLAGE OF CORONA, VILLAGE OF HOPE, AND THE TOWN OF HAGERMAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dora Batista Secretary/executive Director | OfficerTrustee | 40 | $87,011 |
Mike Gallagher President | OfficerTrustee | 0.1 | $0 |
Pamela Heltner Vice President | OfficerTrustee | 0.1 | $0 |
Tony Garcia Treasurer | OfficerTrustee | 0.1 | $0 |
Rudy Sales Board Member | Trustee | 0.1 | $0 |
Pete Estrada Board Member | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $102,790 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $319,000 |
| 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 | $421,790 |
| Total Program Service Revenue | $239,871 |
| Investment income | $86 |
| 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 | $662,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $115,511 |
| Grants and other assistance to domestic individuals. | $4,489 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $102,366 |
| Compensation of current officers, directors, key employees. | $20,473 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,361 |
| Pension plan accruals and contributions | $5,874 |
| Other employee benefits | $100,858 |
| Payroll taxes | $23,359 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,729 |
| Advertising and promotion | $393 |
| Office expenses | $36,874 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,200 |
| Travel | $10,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,167 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,215 |
| Insurance | $14,965 |
| All other expenses | $0 |
| Total functional expenses | $808,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,707 |
| Savings and temporary cash investments | $86,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,924 |
| 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 | $0 |
| Net Land, buildings, and equipment | $16,643 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $146,738 |
| Total assets | $390,848 |
| Accounts payable and accrued expenses | $50,773 |
| 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 | $543,782 |
| Total liabilities | $594,555 |
| Net assets without donor restrictions | -$220,350 |
| Net assets with donor restrictions | $16,643 |
| 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 | $390,848 |
Grants Awarded
Over the last fiscal year, Southeastern New Mexico Economic Development District has awarded $115,511 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
QUINTANA & ASSOCIATES PURPOSE: CONSULTANTS TO ASSIST THE COMMUNITIES WITH THEIR TECHNICAL CAPACITIES AS NEEDED. | $40,086 |
COORDINATOR & ASSOCIATES PURPOSE: CONSULTANTS TO ASSIST THE COMMUNITIES WITH THEIR TECHNICAL CAPACITIES AS NEEDED. | $30,046 |
PURDUE UNIVERSITY PURPOSE: CONSULTANTS TO ASSIST THE COMMUNITIES WITH THEIR TECHNICAL CAPACITIES AS NEEDED. | $45,379 |