Lobo Energy Incorporated
- Assets
- $558.2k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Albuquerque, NM
- Founding
- 08/1999
- Data as of
- 06/2023
- EIN
- 85-0459211
Organization Overview
Lobo Energy Incorporated is located in Albuquerque, NM. The organization was established in 1999. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. As of 06/2023, Lobo Energy Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lobo Energy Incorporated 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, Lobo Energy Incorporated generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $8.4m during the year ending 06/2023. 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
LOBO ENERGY, INC., IS ORGANIZED TO SUPPORT THE UNIVERSITY OF NEW MEXICO FOR THE PURPOSES OF GENERALLY PROVIDING CONTRACTUAL SERVICES, INCLUDING FINANCING, OPERATING, IMPROVING, AND EXPANDING THE UNIVERSITY'S UTILITIES SERVICES INFRASTRUCTURE, AND FOR ALL OTHER PURPOSES PERMITTED UNDER THE UNIVERSITY RESEARCH PARK AND ECONOMIC DEVELOPMENT ACT (CHAPTER 21, ARTICLE 28 NMSA 1978). THE PURPOSES STATED ARE LIMITED TO THOSE PURPOSES THAT COME WITHIN THE MEANING OF AND COMPLY WITH SECTION 501(C)(3) OF THE CODE OR WITH CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOBO ENERGY, INC. WAS FORMED BY THE REGENTS OF THE UNIVERSITY OF NEW MEXICO IN 1998 TO MANAGE THE UPGRADE OF THE UTILITY INFRASTRUCTURE AND PROVIDE UTILITY MANAGEMENT SERVICES TO UNM. LOBO ENERGY HAS UPGRADED THE INFRASTRUCTURE AND HAS IMPLEMENTED AND IS OVERSEEING AN EXTENSIVE ENERGY CONSERVATION PROGRAM ON THE CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Becker Director | Trustee | 1 | $0 |
Garnett Stokes Director | Trustee | 1 | $0 |
Robert Gonzalez Director | Trustee | 1 | $0 |
Bruno E Carrara Director, Vice Chair | Trustee | 1 | $0 |
Thomas J Ruiz Director | Trustee | 1 | $0 |
Jon Word Director | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,127,989 |
| Investment income | $2,819 |
| 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 | $1,130,808 |
| 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. | $437,621 |
| Compensation of current officers, directors, key employees. | $177,227 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $298,003 |
| Pension plan accruals and contributions | $36,673 |
| Other employee benefits | $14,971 |
| Payroll taxes | $55,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $840 |
| Fees for services: Accounting | $39,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,635 |
| Advertising and promotion | $0 |
| Office expenses | $16,197 |
| Information technology | $74,176 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,400 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,368,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $252,376 |
| Savings and temporary cash investments | $232,271 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,944 |
| 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 | $62,609 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $558,200 |
| Accounts payable and accrued expenses | $78,890 |
| 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 | $0 |
| Total liabilities | $78,890 |
| Net assets without donor restrictions | $479,310 |
| 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 | $558,200 |