Rgec Inc
- Assets
- $7.9m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 25
- Location
- Albuquerque, NM
- Founding
- 04/2001
- Data as of
- 06/2022
- EIN
- 85-0471881
Organization Overview
Rgec Inc is located in Albuquerque, NM. The organization was established in 2001. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, Rgec Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rgec Inc 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 06/2022, Rgec Inc generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $4.8m during the year ending 06/2022. While expenses have increased by 10.7% per year over the past 6 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
OUR MISSION IS TO LEVERAGE RESOURCES AND OPPORTUNITIES TO CREATE A CONTINUUM OF SERVICES TO SUPPORT THE SOCIAL AND ACADEMIC DREAMS OF CHILDREN, THEIR FAMILIES AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW MEXICO CHILDREN YOUTH AND FAMILY DEPARTMENT (CYFD) PROGRAM WORKS HAND IN HAND WITH THE RGEC BEFORE AND AFTER SCHOOL PROGRAM BECAUSE IT ALLOWS US TO WORK WITH CHILDREN WHO NORMALLY COULD NOT ATTEND THE PROGRAM DUE TO THE FEES WE CHARGE FOR SERVICES CYFD SUPPORTS PROGRAMMING BY QUALIFYING PARENTS TO RECEIVE THE CHILD CARE SUBSIDIES BASED ON PARENT QUALIFICATIONS. RGEC HAS 400 CONTRACTS IN PLACE UNDER THE CYFD REIMBURSEMENTS PROGRAM AND 48 OF OUR SCHOOL SITES ARE CERTIFIED AS CYFD LICENSED SITES.
THE RGEC BEFORE AND AFTER SCHOOL PROGRAMS OPERATE OUT OF 50 ELEMENTARY AND MIDDLE SCHOOLS IN THE ALBUQUERQUE AND BELEN AREAS. WE UTILIZE TWO EDUCATION MODELS TO ENSURE A HIGH QUALITY AND UNIQUE ENVIRONMENT FOR OUR CHILDREN, THE E-CUBED MODEL ENRICHMENT MODEL EXCLUSIVE TO OUR PROGRAM, AND THE FOUR CORNERS TEACHING STRATEGY. OUR HIGHLY QUALIFIED PROGRAM STAFF CONSISTENTLY RECEIVES PROFESSIONAL DEVELOPMENT TO ENSURE STRONG SKILL LEVELS WE TAKE ALL OF THESE MEASURES TO ENSURE A CREATIVE AND EXCITING WAY FOR CHILDREN TO LEARN WHILE ENJOYING THIS SUPPLEMENTAL PART OF THEIR SCHOOL DAY. WE HAVE 1,508 STUDENTS PARTICIPATING IN OUR PROGRAMS.
THE NEW MEXICO CHILDREN YOUTH AND FAMILY DEPARTMENT FOOD PROGRAM WORKS HAND IN HAND WITH THE RGEC BEFORE AND AFTER SCHOOL PROGRAM BECAUSE IT ALLOWS US TO PROVIDE NUTRITIOUS SNACKS AND MEALS TO CHILDREN ATTENDING THE PROGRAM 130,145 MEALS WERE SERVED DURING THE PAST SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Sanchez CEO | Officer | 27.5 | $192,712 |
Brian Oconnell Coocfo | Officer | 27.5 | $125,000 |
Thaddeus Lucero Board Member | Trustee | 0.2 | $0 |
Roberta Ricci Board Member | Trustee | 0.2 | $0 |
Charles Pena Board Member | Trustee | 0.2 | $0 |
Ray Mares Board Member | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,586,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,067 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,597,587 |
| Total Program Service Revenue | $2,563,853 |
| Investment income | $57,440 |
| 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 | $6,240,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $302,697 |
| 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. | $377,369 |
| Compensation of current officers, directors, key employees. | $132,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,018,458 |
| Pension plan accruals and contributions | $164,044 |
| Other employee benefits | $53,482 |
| Payroll taxes | $102,432 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,053 |
| Fees for services: Accounting | $71,438 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,672,246 |
| Advertising and promotion | $19,386 |
| Office expenses | $0 |
| Information technology | $99,230 |
| Royalties | $0 |
| Occupancy | $131,572 |
| Travel | $22,397 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,137 |
| Interest | $8,741 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,244 |
| All other expenses | $234,765 |
| Total functional expenses | $4,818,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $389,914 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,195,298 |
| Accounts receivable, net | $87,081 |
| 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 | $4,195 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,566,824 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $641,414 |
| Total assets | $7,884,726 |
| Accounts payable and accrued expenses | $222,025 |
| Grants payable | $0 |
| Deferred revenue | $6,012,992 |
| 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 | $200,000 |
| Other liabilities | $551,748 |
| Total liabilities | $6,986,765 |
| Net assets without donor restrictions | $897,961 |
| 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 | $7,884,726 |