Otero County Economic Development Corporation
- Assets
- $1.2m
- Revenue
- $197.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Alamogordo, NM
- Founding
- 04/1984
- Data as of
- 06/2021
- EIN
- 85-0304073
Organization Overview
Otero County Economic Development Corporation is located in Alamogordo, NM. The organization was established in 1984. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Otero County Economic 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 06/2021, Otero County Economic Development Corporation generated $197.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $194.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (24.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE AND PERPETUATE THE INDUSTRIAL AND CIVIC GROWTH OF THE ALAMOGORDO, NM AREA, TO ENSURE CONTINUED JOB MARKET FOR RESIDENTS, AND TO ATTRACT INDUSTRIAL AND COMMERCIAL DEVELOPMENT IN THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Anderson Interim Exec | 40 | $63,715 | |
Regina Colbert Chairman | 8 | $0 | |
Rhonda Cross Secretary | 8 | $0 | |
Rick Mccracken Board Member | 2 | $0 | |
Rene Hatfield Board Member | 2 | $0 | |
Wilson Guin Board Member | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $197,484 |
| Interest on Savings | $428 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $197,912 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $63,715 |
| Other employee salaries and wages | $30,490 |
| Pension plans, employee benefits | $13,870 |
| Interest | $0 |
| Taxes | $3,052 |
| Depreciation | $607 |
| Occupancy | $1,600 |
| Travel, conferences, and meetings | $500 |
| Printing and publications | $1,365 |
| Other expenses | $79,257 |
| Total operating and administrative expenses | $194,456 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $194,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38 |
| Savings and temporary cash investments | $246,706 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $995,994 |
| Other assets | $0 |
| Total assets | $1,242,738 |
| Accounts payable and accrued expenses | $275 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $275 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Otero County Economic Development Corporation has recieved totaling $28,000.
| Awarding Organization | Amount |
|---|---|
Gerald Champion Regional Medical Center Foundation Inc Alamogordo, NM PURPOSE: ANNUAL CONTRIBUTION. | $14,000 |
Gerald Champion Regional Medical Center Foundation Inc Alamogordo, NM PURPOSE: ANNUAL CONTRIBUTION. | $14,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Avance Inc San Antonio, TX | $11,319,048 | $60,395,226 |
Operation Homefront Inc San Antonio, TX | $30,804,944 | $40,861,039 |
Gulf Coast Community Services Assn Inc Houston, TX | $4,457,612 | $33,824,576 |
Hill Country Community Action Association Inc San Saba, TX | $4,864,839 | $26,700,596 |
Community Development Institute Kansas Denver, CO | $25,496,430 | $27,631,308 |
El Paso Community Action Program Project Bravo Inc El Paso, TX | $2,433,349 | $16,653,742 |
Abilene Improvement Corporation Abilene, TX | $4,300,132 | $16,087,347 |
Waterloo Greenway Conservancy Austin, TX | $14,294,713 | $19,654,960 |
Avance Inc San Antonio, TX | $3,341,095 | $14,922,059 |
Urban Land Conservancy Denver, CO | $141,352,888 | $31,846,899 |
First Colony Community Services Association Inc Sugar Land, TX | $19,403,817 | $10,458,068 |
Community Council Of South Central Seguin, TX | $2,045,180 | $10,473,350 |