Carlsbad Industrial Action Inc
- Assets
- $2.5m
- Revenue
- $940.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Carlbad, NM
- Founding
- 04/1967
- Data as of
- 06/2021
- EIN
- 85-6014972
Organization Overview
Carlsbad Industrial Action Inc, operating under the name Carlsbad Department Of Development, is located in Carlbad, NM. The organization was established in 1967. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Carlsbad Department Of Development employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carlsbad Department Of Development 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 06/2021, Carlsbad Department Of Development generated $940.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $751.7k during the year ending 06/2021. While expenses have increased by 2.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ECONOMIC AND GENERAL WELFARE OF ALL OF THE CITIZENS OF THE CITY OF CARLSBAD, NEW MEXICO, THROUGH THE ACTIVE SOLICITATION AND MOVEMENT OF NEW BUSINESS AND INDUSTRY TO CARLSBAD AND VICINITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING & DEVELOPMENT: THE PROGRAM SERVICE GOALS ARE TO PROMOTE THE ECONOMIC AND GENERAL WELFARE OF THE CITIZENS OF THE CITY OF CARLSBAD AND SOUTH EDDY COUNTY THROUGH JOB RETENTION AND CREATION BY RECRUITING NEW INDUSTRY, IDENTIFYING NEW JOB OPPORTUINITES, EXPANDING AND RETAINING EXISTING BUSINESS AND DIVERSIFYING THE LOCAL ECONOMY. JOB RETENTION AND CREATION OCCURS AS A RESULT OF COORDINATED INITIATIVES IN THE AREAS OF LABOR FORCE READINESS AND TRAINING, SMALL BUSINESS DEVEOPMENT, RESEARCH AND DEVELOPMENT OUTREACH, INFRASTURCTURE, CAPITAL RESOURCES, TECHNOLOGY AND COMMUNICATION AND QUALITY OF LIFE ISSUES.
CASCADES RIVERWALK: THE CASCADES AT CARLSBAD IS AN OPEN-AIR MARKET PLACE WITH OVER 650,000 SQUARE FEET AVAILABLE FOR DEVELOPMENT. THE CASCADES WILL OFFER RETAIL, DINING,AND ENTERTAINMENT VENUES AT THE GROUND LEVEL AND OFFICE SPACE ON THE UPPER FLOORS. THERE ARE PLANS TO HAVE UPSCALE HOTELS AND FAMILY ENTERTAINMENT CENTERS WITHIN THE PROJECT CREATING A UNIQUE EXPERIENCE.
LOCAL DEVELOPMENT: THE PROGRAM SERVICES GOALS ARE TO PROMOTE LOCAL BUSINESS IN CARLSBAD AND SOUTH EDDY COUNTY. THE PROGRAM ASSISTS THE BUSINESS COMMUNITY IN THE PROMOTION OF COMMERCIAL AND COMMUNITY ENDEAVORS. IN ADDITION, THE LOCAL DEVELOPMENT SERVICES ARE DESIGNED TO ENHANCE THE SUCCESS OF EXISTING BUSINESSES AND ASSIST RESIDENTS WHO ARE THINKING ABOUT OPENING THEIR OWN BUSINESS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Waters Executive Di | $144,036 | ||
Clint Cone Vice Preside | OfficerTrustee | $0 | |
Erika Laney Treasurer | OfficerTrustee | $0 | |
Larry Mitchell Past Preside | OfficerTrustee | $0 | |
Paul Shoemaker President | OfficerTrustee | $0 | |
Amit Bhakta Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $173,575 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $551,783 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $925,358 |
| Total Program Service Revenue | $0 |
| Investment income | $11,257 |
| 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 | $940,607 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $347,685 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,258 |
| Payroll taxes | $27,794 |
| Fees for services: Management | $0 |
| Fees for services: Legal | -$595 |
| Fees for services: Accounting | $58,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,540 |
| Office expenses | $662 |
| Information technology | $12,662 |
| Royalties | $0 |
| Occupancy | $81,497 |
| Travel | $631 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,063 |
| Insurance | $7,715 |
| All other expenses | $9,870 |
| Total functional expenses | $751,727 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,658,548 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $142,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,047 |
| Net Land, buildings, and equipment | $486,299 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $136,114 |
| Total assets | $2,518,008 |
| Accounts payable and accrued expenses | $12,542 |
| Grants payable | $0 |
| Deferred revenue | $26,500 |
| 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 | $48,238 |
| Total liabilities | $87,280 |
| Net assets without donor restrictions | $2,367,628 |
| Net assets with donor restrictions | $63,100 |
| 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 | $2,518,008 |
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