Sandoval Economic Alliance Inc
- Assets
- $406.0k
- Revenue
- $475.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Rio Rancho, NM
- Founding
- 04/1994
- Data as of
- 06/2022
- EIN
- 85-0407128
Organization Overview
Sandoval Economic Alliance Inc is located in Rio Rancho, NM. The organization was established in 1994. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Sandoval Economic Alliance Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sandoval Economic Alliance 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 06/2022, Sandoval Economic Alliance Inc generated $475.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $381.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. 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
TO FOSTER ECONOMIC VIBRANCY BY CREATING, STRENGTHENING, AND RETAINING ECONOMIC BASE JOBS THAT ENHANCE THE QUALITY OF LIFE IN RIO RANCHO AND SANDOVAL COUNTY, NEW MEXICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCE AWARENESS OF RIO RANCHO AND SANDOVAL COUNTY, NEW MEXICO AS AN ATTRACTIVE COMMUNITY TO OPERATE, LIVE, AND WORK. CONTINUE TO ADMINISTER RECRUITING AND PUBLIC RELATIONS PROGRAMS THAT ATTRACT NEW COMPANIES AND RETAIN AND EXPAND EXISTING LOCAL COMPANIES. EFFORTS WERE ACCOMPLISHED THROUGH VARIOUS MARKETING MEANS INCLUDING TRADE SHOWS, DIRECT MAILINGS, AND THROUGH PROPOSALS AND SITE VISITS FOR COMPANIES CONSIDERING RELOCATON OR EXPLANSION WITHIN RIO RANCHO AND SANDOVAL COUNTY. ORGANIZATION GOALS ARE TO PROMOTE AND MAINTAIN A HEALTHY, VIBRANT, AND ACTIVE COMMUNITY BY SUPPORTING A BUSINESS FRIENDLY ENVIRONMENT THAT ALLOWS FOR CAREER ENHANCING, QUALITY ECONOMIC BASE COMPANIES TO THRIVE, TO ACTIVELY RECRUIT NEW ECONOMIC BASE COMPANIES TO THE REGION, TO HELP EXISTING COMPANIES GROW AND THRIVE, AND TO WORK WITH COMMUNITY LEADERS TO SUPPORT AN ENVIRONMENT OF ECONOMIC STABILITY, GROWTH AND EXCELLENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Shepherd President And CEO - Current | Officer | 40 | $125,229 |
David Patterson Board Member | Trustee | 0.5 | $0 |
Ed Smith Board Member | Trustee | 0.5 | $0 |
Phil Casaus Board Member | Trustee | 0.5 | $0 |
Dora Dominguez Board Member | Trustee | 0.5 | $0 |
Melissa Gomez Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $118,895 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,572 |
| Noncash contributions included in lines 1a–1f | $26,781 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $275,467 |
| Total Program Service Revenue | $200,000 |
| Investment income | $0 |
| 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 | $475,467 |
| 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. | $125,229 |
| Compensation of current officers, directors, key employees. | $32,410 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,873 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,957 |
| Payroll taxes | $21,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,384 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,711 |
| Advertising and promotion | $13,138 |
| Office expenses | $4,355 |
| Information technology | $5,704 |
| Royalties | $0 |
| Occupancy | $14,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,090 |
| Interest | $825 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,763 |
| Insurance | $2,713 |
| All other expenses | $39,992 |
| Total functional expenses | $381,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,736 |
| Savings and temporary cash investments | $116,821 |
| Pledges and grants receivable | $44,460 |
| Accounts receivable, net | $13,833 |
| 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 | $24,773 |
| Net Land, buildings, and equipment | $29,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $405,958 |
| Accounts payable and accrued expenses | $38,772 |
| Grants payable | $0 |
| Deferred revenue | $67,458 |
| 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 | $17,490 |
| Total liabilities | $123,720 |
| Net assets without donor restrictions | $282,238 |
| 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 | $405,958 |