Rio Grande Community Development Corporation
- Assets
- $1.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 24
- Location
- Albuquerque, NM
- Founding
- 07/1987
- Data as of
- 12/2022
- EIN
- 85-0348445
Organization Overview
Rio Grande Community Development Corporation is located in Albuquerque, NM. The organization was established in 1987. 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. As of 12/2022, Rio Grande Community Development Corporation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rio Grande Community 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 12/2022, Rio Grande Community Development Corporation generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 5.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BE THE TRUSTED AND ACCESSIBLE COMMUNITY HUB FOR SOCIAL AND ECONOMIC ENTREPRENEURSHIP WHICH FACILITATES SELF-SUFFICIENCY WHILE HONORING THE PEOPLE'S VOICE AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIO GRANDE COMMUNITY DEVELOPMENT CORPORATION (RGCDC) SERVES THE NEEDS OF RESIDENTS AND BUSINESS OWNERS IN BERNALILLO COUNTY, WITH A FOCUS ON THE SOUTH VALLEY AREA. RGCDC'S SOCIAL AND BUSINESS JUSTICE MISSION IS TO SUPPORT COMMUNITY-WIDE HEALTHY ECONOMIC AND SOCIAL DEVELOPMENT THAT ENRICHES TRADITIONAL CULTURAL VALUES AND HISTORICAL USES OF THE LAND. IN 2022, RGCDC SUPPORTED 27 PROGRAMS AND EVENTS THROUGH ITS TWO DIVISIONS AND AFFILIATED SERVICES.
THE SOUTH VALLEY ECONOMIC DEVELOPMENT CENTER (SVEDC) IS A COLLABORATIVE EFFORT BETWEEN BERNALILLO COUNTY AND RGCDC. IN ITS 17,000 SQUARE FOOT FACILITY LOCATED IN THE HEART OF ALBUQUQUERQUE'S SOUTH VALLEY, SVEDC SERVES AS A BUSINESS INCUBATOR BY PROVIDING BUSINESS INCUBATOR SUPPORT SERVICES AND A SITE FOR MANUFACTURING AND FOOD DISTRIBUTION. IN 2022, SVEDC SUPPORTED 44 COMPANIES AND 90 INDIVIDUALS AT VARIOUS STAGES OF GROWTH FROM AN ENTREPRENEURIAL IDEA TO A FULLY THRIVING BUSINESS. SVEDC ALSO SERVES AS A COMMUNITY BUSINESS HUB AND SOCIAL DEVELOPMENT, HOUSING 75 VIRTUAL EVENTS IN 2022.
THE COLOR THEORY INITIATIVE IS A COLLABORATIVE PROGRAM WITH OTHER ALIGNED SOCIAL AND ECONOMIC DEVELOPMENT PROVIDERS FOCUSED ON OVERCOMING SYSTEMIC CHALLENGES FACING NEW MEXICO ENTREPRENEURS AND BUSINESS OWNERS OF COLOR. THE PROGRAM IS DEDICATED TO PROMOTE SHARED TECHNICAL ASSISTANCE AND DATABASE RESOURCES TO EXPAND KNOWLEDGE, ACCESS, AND OPPORTUNITIES FOR BUSINESS SUCCESS TO THOSE IN TRADITIONALLY UNDERSERVED GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrian Pedroza Chair | OfficerTrustee | 2 | $0 |
Robert Baade Vice Chair | OfficerTrustee | 2 | $0 |
Shawn Berman Secretary | OfficerTrustee | 2 | $0 |
Keith Hartnett Treasurer | OfficerTrustee | 2 | $0 |
Denise Nava Director | Trustee | 1 | $0 |
Kizito Wijenje Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $421,292 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,105,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,526,361 |
| Total Program Service Revenue | $190,766 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $37,800 |
| Net Gain/Loss on Asset Sales | -$44,063 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,710,904 |
| 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. | $81,626 |
| Compensation of current officers, directors, key employees. | $19,590 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $487,135 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $66,120 |
| Payroll taxes | $50,362 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,303 |
| Fees for services: Accounting | $23,810 |
| Fees for services: Lobbying | $9,932 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $331,214 |
| Advertising and promotion | $30,592 |
| Office expenses | $95,550 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,776 |
| Travel | $11,640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,983 |
| Insurance | $22,059 |
| All other expenses | $33,950 |
| Total functional expenses | $2,792,842 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $685,896 |
| Savings and temporary cash investments | $10,062 |
| Pledges and grants receivable | $10,442 |
| 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 | $0 |
| Net Land, buildings, and equipment | $553,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,259,590 |
| Accounts payable and accrued expenses | $34,606 |
| 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 | $369,311 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $403,917 |
| Net assets without donor restrictions | $673,925 |
| Net assets with donor restrictions | $181,748 |
| 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 | $1,259,590 |