Civic Intelligence

New Mexico Economic Development Corporation

990 • Fiscal year 2020 • EIN 20-0100129

Jul 01, 2019 to Jun 30, 2020 • Filed on May 10, 2021

Organization ProfileNMPARTNERSHIP.COM

View Organization Page

1720 Louisiana Blvd NE Suite 312Albuquerque, NM 87110

(505) 247-8500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

38th percentile

0.10x

Higher debt load relative to assets than 38% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.07x

Higher debt load relative to revenue than 27% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Net Margin

63rd percentile

12%

Higher net margin than 63% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

79th percentile

$206,563

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Asset Growth

80th percentile

34%

Faster asset growth than 80% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

35%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$1,018,437

Up $255,875 (+34%) from 2019

Net Assets

Up

$918,709

Up $189,207 (+26%) from 2019

Liabilities

Up

$99,728

Up $66,668 (+202%) from 2019

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin63rd percentile

Revenue

Up

$1,530,366

Up $400,142 (+35%) from 2019

Expenses

Up

$1,341,159

Up $230,072 (+21%) from 2019

Net Income

Up

$189,207

Up $170,070 (+889%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2010: $493,016Liabilities 2010: $63,380Net Assets 2010: $429,6362010Assets 2011: $523,407Liabilities 2011: $98,258Net Assets 2011: $425,1492011Assets 2012: $439,193Liabilities 2012: $99,213Net Assets 2012: $339,9802012Assets 2013: $366,616Liabilities 2013: $130,684Net Assets 2013: $235,9322013Assets 2014: $318,832Liabilities 2014: $58,177Net Assets 2014: $260,6552014Assets 2015: $273,605Liabilities 2015: $72,610Net Assets 2015: $200,9952015Assets 2016: $356,136Liabilities 2016: $46,752Net Assets 2016: $309,3842016Assets 2017: $637,011Liabilities 2017: $31,323Net Assets 2017: $605,6882017Assets 2018: $739,422Liabilities 2018: $29,057Net Assets 2018: $710,3652018Assets 2019: $762,562Liabilities 2019: $33,060Net Assets 2019: $729,5022019Assets 2020: $1,018,437Liabilities 2020: $99,728Net Assets 2020: $918,7092020Assets 2021: $1,038,292Liabilities 2021: $128,706Net Assets 2021: $909,5862021Assets 2022: $949,430Liabilities 2022: $111,380Net Assets 2022: $838,0502022Assets 2023: $1,017,213Liabilities 2023: $70,526Net Assets 2023: $946,6872023Assets 2024: $1,034,413Liabilities 2024: $257,581Net Assets 2024: $776,8322024

Highlighted filing

2020

Assets$1,018,437
Liabilities$99,728
Net Assets$918,709
Open 2020 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,165,8892010Revenue 2011: $1,205,087Expenses 2011: $1,135,674Net Income 2011: $69,4132011Expenses 2012: $686,7432012Expenses 2013: $747,4662013Revenue 2014: $1,037,465Expenses 2014: $1,012,742Net Income 2014: $24,7232014Revenue 2015: $1,064,238Expenses 2015: $1,123,898Net Income 2015: -$59,6602015Revenue 2016: $1,301,644Expenses 2016: $1,193,255Net Income 2016: $108,3892016Revenue 2017: $1,122,003Expenses 2017: $825,699Net Income 2017: $296,3042017Revenue 2018: $1,100,435Expenses 2018: $995,758Net Income 2018: $104,6772018Revenue 2019: $1,130,224Expenses 2019: $1,111,087Net Income 2019: $19,1372019Revenue 2020: $1,530,366Expenses 2020: $1,341,159Net Income 2020: $189,2072020Revenue 2021: $989,699Expenses 2021: $998,822Net Income 2021: -$9,1232021Revenue 2022: $1,108,730Expenses 2022: $1,180,266Net Income 2022: -$71,5362022Revenue 2023: $1,207,870Expenses 2023: $1,099,233Net Income 2023: $108,6372023Revenue 2024: $1,098,576Expenses 2024: $1,268,431Net Income 2024: -$169,8552024

Highlighted filing

2020

Revenue$1,530,366
Expenses$1,341,159
Net Income$189,207
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 10, 2021
Return Version
2019v5.0
Gross Receipts
$1,530,366
Mission and Program Overview

Mission

Organization's primary mission is to recuit new businesses to new mexico.

Promote and better the common economic interest of the state of new mexico and its citizens through economic development marketing and business development programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$650,884$808,802▲ $157,918
Accounts Receivable$93,740$122,592▲ $28,852
Land, Buildings, and Equipment, Net$12,131$11,222▼ $909
Prepaid Expenses and Deferred Charges$5,807$4,300▼ $1,507
Total Assets$762,562$1,018,437▲ $255,875
Other Assets Total-$71,521-
Liabilities
Other Liabilities-$71,521-
Accounts Payable and Accrued Expenses$33,060$28,207▼ $4,853
Total Liabilities$33,060$99,728▲ $66,668
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$729,502$918,709▲ $189,207
Total Net Assets Fund Balance$729,502$918,709▲ $189,207
Total Liabilities and Net Assets / Fund Balance$762,562$1,018,437▲ $255,875

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,222$39,696$50,918
Other Assets Org$71,521--
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tim NittiPresident (fFT$181,166$25,397$206,563
Tim NittiPresident (former)-$181,166$25,397$206,563
Melinda AllenPresidentFT$101,795$8,413$110,208

Board Members and Trustees

NameTitle
Pat Vincent-collawnBoard Chair
Thomas HutchinsonVice Chair
Alicia KeysBoard Member
Cassie AriasBoard Member
Davin LopezBoard Member
Dawn BoulwareBoard Member
Joe DigregorioBoard Member
John HeatonBoard Member
Julia WiseBoard Member
Missi CurrierBoard Member
Pat VanderpoolBoard Member
Senator Clemente SanchezBoard Member
Board MemberRegion 5-Director
Debbie JohnsonSecretary
David HaleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,530,000
Program Service Revenue
$0
Investment Income
$366
Other Revenue
$0
All Other Contributions
$55,000
Change in Net Assets
$189,207

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,530,366
Revenue Not Reported on Form 990
$15,252
Total Revenue per Audited Statements
$1,545,618
Total Revenue per Form 990
$1,530,366
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$705,771
Other Expenses$635,388
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$316,771
Other Salaries and Wages---$300,930
Fees for Services Other---$125,277
Travel---$44,672
Payroll Taxes---$41,681
Other Employee Benefits---$34,945
Occupancy---$25,114
Pension Plan Contributions---$11,444
Office Expenses---$10,843
Insurance---$8,543
Other Expenses---$3,788
All Other Expenses---$2,133
Depreciation Depletion---$2,025
Total Functional Expenses$0$0$0$1,341,159

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,356,411
Expenses per Audited Statements$1,341,159
Total Expenses per Form 990$1,341,159
Expenses Not Reported on Form 990$15,252
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Others$71,521
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 is provided to the board before filing of the return.”

Form 990, Page 6, Part VI, Line 12C

“Before business decisions are made, the board of directors determines whether or not there is a conflict of interest.”

Form 990, Page 6, Part VI, Line 15A

“The president and ceo salaries are determined by the board of directors. All other employee salaries are determined by the president and ceo.”

Form 990, Page 6, Part VI, Line 19

“All public documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
New Mexico Economic Development
EIN
20-0100129
Phone
5052478500
Address
1720 LOUISIANA BLVD NE SUITE 312, ALBUQUERQUE, NM 87110

Signing Officer

Name
Melinda Allen
Title
President
Phone
5052478500
Signed
2021-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melinda Allen
Formed
2003
Legal Domicile
Nm
Voting Board Members
15
Independent Board Members
15
Employees
8

Preparer

Firm
Hinkle Landers Pc
Address
2500 9TH ST NW, ALBUQUERQUE, NM 87102-1055
Preparer
Jeremy T Richter
Phone
5058838788
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 2C

“The finance committee assumes responsibility for oversight of the audit of the organization's financial statements and the selection of an independent accountant. This process has not changed from the prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Nmdec is a not-for-profit corporation and has been recognized as tax-exempt pursuant to section 501(c)(6) of the internal revenue code. Management believes that there are no uncertain tax positions that would require recognition, measurement, or disclosure. Due to the statutes of limitations, nmedc is only subject to examination by tax authorities for years ended june 30, 2017 and thereafter.”

Raw XML AppendixShowing 400 of 406 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt033060
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt028207
IRS990/AccountsReceivableGrp/BOYAmt093740
IRS990/AccountsReceivableGrp/EOYAmt0122592
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0PROMOTE AND BETTER THE COMMON ECONOMIC INTEREST OF THE STATE OF NEW MEXICO AND ITS CITIZENS THROUGH ECONOMIC DEVELOPMENT MARKETING AND BUSINESS DEVELOPMENT PROGRAMS.
IRS990/AddressChangeInd0X
IRS990/AllOtherContributionsAmt055000
IRS990/AllOtherExpensesGrp/TotalAmt02133
IRS990/AnnualDisclosureCoveredPrsnInd0false
IRS990/AuditCommitteeInd0true
IRS990/BooksInCareOfDetail/PersonNm0DOREEN AVILA
IRS990/BooksInCareOfDetail/PhoneNum05052478500
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01720 LOUSIANA BLVD NE 312
IRS990/BooksInCareOfDetail/USAddress/CityNm0ALBUQUERQUE
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NM
IRS990/BooksInCareOfDetail/USAddress/ZIPCd087110
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0650884
IRS990/CashNonInterestBearingGrp/EOYAmt0808802
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0316771
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0false
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01530000
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0366
IRS990/CYOtherExpensesAmt0635388
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0189207
IRS990/CYSalariesCompEmpBnftPaidAmt0705771
IRS990/CYTotalExpensesAmt01341159
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01530366
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt02025
IRS990/Desc0PROMOTE AND BETTER THE COMMON ECONOMIC INTEREST OF THE STATE OF NEW MEXICO AND ITS CITIZENS. PROVIDES SERVICES TO RECRUIT BUSINESS TO NEW MEXICO THAT INCLUDE: SITE SELECTION ASSISTANCE, LABOR MARKET ANALYSIS, JOB TRAINING ASSISTANCE, CUSTOM RESEARCH, BUILDING INFORMATION, ACCESS TO REGULATORY AUTHORITIES, EMPLOYEE RECRUITMENT ASSISTANCE AND COORDINATION OF STATE AND LOCAL ECONOMIC PROFESSIONALS.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt08
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesOtherGrp/TotalAmt0125277
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt90.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt120.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt130.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1640.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd14X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd5X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt158413
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1625397
IRS990/Form990PartVIISectionAGrp/PersonNm0PAT VINCENT-COLLAWN
IRS990/Form990PartVIISectionAGrp/PersonNm1THOMAS HUTCHINSON
IRS990/Form990PartVIISectionAGrp/PersonNm2DEBBIE JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm3DAVID HALE
IRS990/Form990PartVIISectionAGrp/PersonNm4ALICIA KEYS
IRS990/Form990PartVIISectionAGrp/PersonNm5SENATOR CLEMENTE SANCHEZ
IRS990/Form990PartVIISectionAGrp/PersonNm6JOE DIGREGORIO
IRS990/Form990PartVIISectionAGrp/PersonNm7DAWN BOULWARE
IRS990/Form990PartVIISectionAGrp/PersonNm8JULIA WISE
IRS990/Form990PartVIISectionAGrp/PersonNm9PAT VANDERPOOL
IRS990/Form990PartVIISectionAGrp/PersonNm10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/PersonNm11CASSIE ARIAS
IRS990/Form990PartVIISectionAGrp/PersonNm12MISSI CURRIER
IRS990/Form990PartVIISectionAGrp/PersonNm13JOHN HEATON
IRS990/Form990PartVIISectionAGrp/PersonNm14DAVIN LOPEZ
IRS990/Form990PartVIISectionAGrp/PersonNm15MELINDA ALLEN
IRS990/Form990PartVIISectionAGrp/PersonNm16TIM NITTI
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15101795
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16181166
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10REGION 5-DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16PRESIDENT (F
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02003
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GovernmentGrantsAmt01475000
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt01530366
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt015
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/TotalAmt08543
IRS990/InvestmentIncomeGrp/ExclusionAmt0366
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0366
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt039696
IRS990/LandBldgEquipBasisNetGrp/BOYAmt012131
IRS990/LandBldgEquipBasisNetGrp/EOYAmt011222
IRS990/LandBldgEquipCostOrOtherBssAmt050918
IRS990/LegalDomicileStateCd0NM
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0ORGANIZATION'S PRIMARY MISSION IS TO RECRUIT NEW BUSINESSES TO NEW MEXICO.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0729502
IRS990/NetAssetsOrFundBalancesEOYAmt0918709
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0729502
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0918709
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt025114
IRS990/OfficeExpensesGrp/TotalAmt010843
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt071521
IRS990/OtherEmployeeBenefitsGrp/TotalAmt034945
IRS990/OtherExpensesGrp/Desc0TRADESHOWS & PROMOTIONAL
IRS990/OtherExpensesGrp/Desc1TELEPHONE
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3PAYROLL FEES
IRS990/OtherExpensesGrp/TotalAmt0379581
IRS990/OtherExpensesGrp/TotalAmt126175
IRS990/OtherExpensesGrp/TotalAmt27237
IRS990/OtherExpensesGrp/TotalAmt33788
IRS990/OtherLiabilitiesGrp/EOYAmt071521
IRS990/OtherSalariesAndWagesGrp/TotalAmt0300930
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/TotalAmt041681
IRS990/PensionPlanContributionsGrp/TotalAmt011444
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05807
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04300
IRS990/PrincipalOfficerNm0MELINDA ALLEN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01130000
IRS990/PYInvestmentIncomeAmt0224
IRS990/PYOtherExpensesAmt0522246
IRS990/PYRevenuesLessExpensesAmt019137
IRS990/PYSalariesCompEmpBnftPaidAmt0588841
IRS990/PYTotalExpensesAmt01111087
IRS990/PYTotalRevenueAmt01130224
IRS990/ReconcilationRevenueExpnssAmt0189207
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt015252
IRS990ScheduleD/DonatedServicesUseFcltsAmt015252
IRS990ScheduleD/EquipmentGrp/BookValueAmt011222
IRS990ScheduleD/EquipmentGrp/DepreciationAmt039696
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt050918
IRS990ScheduleD/ExpensesNotReportedAmt015252
IRS990ScheduleD/ExpensesSubtotalAmt01341159
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt071521
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH HELD FOR OTHERS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt071521
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO OTHERS
IRS990ScheduleD/RevenueNotReportedAmt015252
IRS990ScheduleD/RevenueSubtotalAmt01530366
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NMDEC IS A NOT-FOR-PROFIT CORPORATION AND HAS BEEN RECOGNIZED AS TAX-EXEMPT PURSUANT TO SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION, MEASUREMENT, OR DISCLOSURE. DUE TO THE STATUTES OF LIMITATIONS, NMEDC IS ONLY SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS ENDED JUNE 30, 2017 AND THEREAFTER.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011222
IRS990ScheduleD/TotalBookValueOtherAssetsAmt071521
IRS990ScheduleD/TotalExpensesPerForm990Amt01341159
IRS990ScheduleD/TotalLiabilityAmt071521
IRS990ScheduleD/TotalRevenuePerForm990Amt01530366
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01545618
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01356411
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0181166
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt025397
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0TIM NITTI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT (FORMER)
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0206563
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS PROVIDED TO THE BOARD BEFORE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BEFORE BUSINESS DECISIONS ARE MADE, THE BOARD OF DIRECTORS DETERMINES WHETHER OR NOT THERE IS A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT AND CEO SALARIES ARE DETERMINED BY THE BOARD OF DIRECTORS. ALL OTHER EMPLOYEE SALARIES ARE DETERMINED BY THE PRESIDENT AND CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL PUBLIC DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 12, PART XII, LINE 2C
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0762562
IRS990/TotalAssetsEOYAmt01018437
IRS990/TotalAssetsGrp/BOYAmt0762562
IRS990/TotalAssetsGrp/EOYAmt01018437
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt01530000
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01341159
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033060
IRS990/TotalLiabilitiesEOYAmt099728
IRS990/TotalLiabilitiesGrp/BOYAmt033060
IRS990/TotalLiabilitiesGrp/EOYAmt099728
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0729502
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0918709
IRS990/TotalOtherCompensationAmt033810
IRS990/TotalReportableCompFromOrgAmt0282961
IRS990/TotalRevenueGrp/ExclusionAmt0366
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01530366
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0762562
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01018437
IRS990/TravelGrp/TotalAmt044672
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01720 LOUSIANA BLVD NE SUITE 312
IRS990/USAddress/CityNm0ALBUQUERQUE
IRS990/USAddress/StateAbbreviationCd0NM
IRS990/USAddress/ZIPCd087110
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0NMPARTNERSHIP.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELINDA ALLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05052478500
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEW MEXICO ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORP
ReturnHeader/Filer/BusinessNameControlTxt0NEWM
ReturnHeader/Filer/EIN0200100129
ReturnHeader/Filer/PhoneNum05052478500
ReturnHeader/Filer/USAddress/AddressLine1Txt01720 LOUISIANA BLVD NE SUITE 312
ReturnHeader/Filer/USAddress/CityNm0ALBUQUERQUE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NM
ReturnHeader/Filer/USAddress/ZIPCd087110
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0850232815
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HINKLE LANDERS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02500 9TH ST NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALBUQUERQUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0871021055
ReturnHeader/PreparerPersonGrp/PhoneNum05058838788
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-12

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,018,437
Liabilities
$99,728
Net assets
$918,709
Revenue
$1,530,366
Expenses
$1,341,159
Net income
$189,207
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.03$0.26$0.78$1.10$1.27$0.17
2023Detailed filing. Detailed filing data is available for this year.$1.02$0.07$0.95$1.21$1.10$0.11
2022Detailed filing. Detailed filing data is available for this year.$0.95$0.11$0.84$1.11$1.18$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.13$0.91$0.99$1.00$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.02$0.10$0.92$1.53$1.34$0.19
2019Detailed filing. Detailed filing data is available for this year.$0.76$0.03$0.73$1.13$1.11$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.74$0.03$0.71$1.10$1.00$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.64$0.03$0.61$1.12$0.83$0.30
2016Detailed filing. Detailed filing data is available for this year.$0.36$0.05$0.31$1.30$1.19$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.07$0.20$1.06$1.12$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.32$0.06$0.26$1.04$1.01$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.13$0.24$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.10$0.34$0.69
2011Summary only. Only limited summary data is available for this year.$0.52$0.10$0.43$1.21$1.14$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.06$0.43$1.17