Science & Technology Park Development Corporation
- Assets
- $1.4m
- Revenue
- $367.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 03/2000
- Data as of
- 12/2022
- EIN
- 85-0462273
Organization Overview
Science & Technology Park Development Corporation is located in Albuquerque, NM. The organization was established in 2000. 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. Science & Technology Park 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, Science & Technology Park Development Corporation generated $367.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $475.8k during the year ending 12/2022. While expenses have increased by 1.5% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ATTRACT HIGH TECH COMPANIES TO NEW MEXICO AND FOSTERING A RELATIONSHIP BETWEEN THE COMPANIES AND GOVERNMENT TO CREATE HIGH TECH JOBS IN NEW MEXICO. MANAGEMENT OF SANDIA SCIENCE & TECHNOLOGY PARK PREMISES, INCLUDING COMMON AREAS, AND PROVISION OF TELECOM SERVICES. ALSO MONITORS FIBER OPTIC TELECOMMUNICATIONS, SECURITY, AND MONITORING EQUIPMENT. IN 2022 THERE WERE 1,772 EMPLOYEES AT THE PARK WITH AN AVERAGE SALARY OF 97,000 COMPARED TO THE ABQ METRO AREA AVERAGE SALARY OF 54,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherman Mccorkle Pres/chair | 40 | $101,970 | |
Edward Lujan Vice Pres. | 1 | $0 | |
Randall B Wilson Treas/sec. | 2 | $62,000 | |
Jesse Dompreh Director | 1 | $0 | |
Stuart Purviance Director | 1 | $0 | |
Alex Romero Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sherman Mccorkle | 12/30/22 | $101,970 |
Randall B Wilson | 12/30/22 | $62,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $128 |
| 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 | $367,061 |
| Total Revenue | $367,189 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $163,970 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,273 |
| Depreciation | $86,845 |
| Occupancy | $36,314 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $153,114 |
| Total operating and administrative expenses | $475,759 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $475,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,374 |
| Savings and temporary cash investments | $634,462 |
| 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 | $723,075 |
| Other assets | $0 |
| Total assets | $1,401,911 |
| Accounts payable and accrued expenses | $140 |
| 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 | $140 |