New Mexico Community Capital

“The audit committee shall consist of three members, two of whom shall be current members of the nmcc board of directors. Terms shall be annual concurrent with nmcc's fiscal (also calendar) year. Nonboard members may be included on the audit committee to obtain a proper level of financial and other applicable expertise on the committee. Nonboard members shall possess expertise not resident among board members willing to serve on the committee at the time they are appointed or begin their term. Audit committee members shall be independent with respect to nmcc to avoid the existence or appearance of conflicts of interest. All committee members shall meet applicable standards of independence and be appointed by the board of directors. The audit committee shall appoint the audit committee chair who shall be a member of the board of directors.”

“After the return is prepared by an independent accounting firm, the cfo and director of finance review a copy of the draft and final form 990 for completeness and accuracy. The form 990 is then presented to the board of directors. The governing board reviews, then approves, the final copy and the return is filed.”

“All officers, directors and key employees are required to review the conflict of interest agreement and confirm they are in compliance annually. They are required to disclose conflicts at each board meeting or as appropriate.”

“The compensation committee is a part of the board of directors. The compensation committee reviews and determines the compensation of the managing director and other officers through an internal review process. This process includes the use of comparability data for similarly qualified persons in comparable positions at similar organizations. All deliberations and decisions are documented. The managing director reviews and recommends to the board the compensation of other key employees through an internal review process. This process includes the use of comparability data for similarly qualified persons in comparable positions at similar organizations. The board deliberates the managing director's recommendations before approving raises. All deliberations and decisions are documented. The compensation processes described above were last completed in 2022.”

“Governing documents, conflict of interest policy, and financial statements are available for inspection at the organization's offices and upon request. The governing documents and conflict of interest policy are also available on the organization's website.”

“Community lending (funded by rooted relative fund (rcac) and nusenda credit union) - nmcc acts as the bridge between community and nontraditional lenders. Through these programs nmcc provides ta support to ensure that community members are qualified to receive loans and to ensure they are able to meet there loan commitments.”

“The indigenous economic wellbeing alliance program ended in 2023.”

“Payroll processing fee: program service expenses 2,288. Management and general expenses 611. Fundraising expenses 0. Total expenses 2,899. Staff development: program service expenses 5,913. Management and general expenses 1,580. Fundraising expenses 0. Total expenses 7,493. Contract employees: program service expenses 75,409. Management and general expenses 20,149. Fundraising expenses 0. Total expenses 95,558. Consultant fee: program service expenses 828,709. Management and general expenses 221,427. Fundraising expenses 0. Total expenses 1,050,136.”