New Mexico Independent Automobile Dealers Association Inc
- Assets
- $1.1m
- Revenue
- $864.0k
- Investments
- $25.0k
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 05/1988
- Data as of
- 12/2022
- EIN
- 85-0269621
Organization Overview
New Mexico Independent Automobile Dealers Association Inc is located in Albuquerque, NM. The organization was established in 1988. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Independent Automobile Dealers Association Inc 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 Independent Automobile Dealers Association Inc generated $864.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $734.1k during the year ending 12/2022. While expenses have increased by 19.6% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVE AUTO DEALER MEMBERS PROVIDING EDUCATION ON GOVERNMENT REQUIREMENTS & APPROPRIATE FORMS & PERMITS; BI-MONTHLY NEWSLETTER; PROMOTE INDUSTRY STANDARDS & QUALITY; PROVIDE STATE OF NM MOTOR VEHICLE DEPARTMENT APPROVED FORMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL NM CONVENTION FOR MEMBERS PROVIDING EDUCATIONAL OPPORTUNITIES FOR DEALERS FROM NM FEATURED SPEAKERS ON VARIOUS ASPECTS OF THE INDUSTRY INCLUDING STRENGTHENING DEALER RELATIONS WITH THE NM MOTOR VEHICLE DEPARTMENT AND EMPHASIS ON BEST PRACTICES. VENDOR BOOTHS AND EXHIBITS WITH INFORMATION ON TECHNOLOGY, FINANCING, LEGAL, INSURANCE AND OTHER ASPECTS RELATED TO THE INDUSTRY.
BI-MONTHLY NEWSLETTER PROVIDING ARTICLES RELATED TO COMPLIANCE, LEGAL, LEGISLATIVE, REGULATORY MATTERS, OPPORTUNITIES FOR UPDATES & EDUCATION RELATED TO COMPLIANCE, ACCOUNTING PRACTICES IN THE INDUSTRY, MARKETING & PROMOTION, FINANCING, COMPLIANCE BEST PRACTICES, FORM USE, PRODUCT KNOWLEDGE AND TO PROVIDE INFORMATION GARNERED FROM NATIONAL CONVENTIONS OF OTHER ORGANIZATIONS WITH SIMILAR INTEREST AND CONCERNS.
PRE-LICENSING SEMINARS FOR INDVIIDUALS WANTING TO BECOME A DEALER, CONTINUING EDUCATION SEMINARS INCLUDING COMPLIANCE WITH THE FEDERAL TRADE COMMISSION RED FLAG RULES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc P Powell Executive Director | Officer | 15 | $0 |
Jeda Craddick Chairperson Of The Board | OfficerTrustee | 4 | $0 |
Robert Martinez President | OfficerTrustee | 4 | $0 |
Luis Soto Vice President | OfficerTrustee | 4 | $0 |
Mark Becker Treasurer | OfficerTrustee | 4 | $0 |
Carlos Bazo 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 | $1,019 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,019 |
| Total Program Service Revenue | $692,096 |
| Investment income | $5,379 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $80,600 |
| Net Gain/Loss on Asset Sales | $76,826 |
| Net Income from Fundraising Events | $8,120 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $864,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,800 |
| Grants and other assistance to domestic individuals. | $10,645 |
| 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 | $94,500 |
| Fees for services: Legal | $12,082 |
| Fees for services: Accounting | $20,721 |
| Fees for services: Lobbying | $21,410 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $52,627 |
| Office expenses | $58,358 |
| Information technology | $35,552 |
| Royalties | $0 |
| Occupancy | $38,686 |
| Travel | $6,069 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,214 |
| Interest | $13,064 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,746 |
| Insurance | $21,828 |
| All other expenses | $21,948 |
| Total functional expenses | $734,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,224 |
| Savings and temporary cash investments | $153,352 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,695 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $167,625 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,344 |
| Net Land, buildings, and equipment | $675,659 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,000 |
| Total assets | $1,131,899 |
| Accounts payable and accrued expenses | $35,392 |
| 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 | $216,513 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $251,905 |
| Net assets without donor restrictions | $879,994 |
| 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 | $1,131,899 |