Civic Intelligence

First Southwest Community Fund

990 • Fiscal year 2017 • EIN 47-3061703

Jan 01, 2017 to Dec 31, 2017 • Filed on May 15, 2018

Organization ProfileN/A
PO Box 1139Alamosa, CO 81101

(970) 375-1100

Siviq Scores

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

Liabilities / Assets

84th percentile

0.61x

Higher debt load relative to assets than 84% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

89th percentile

1.55x

Higher debt load relative to revenue than 89% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets84th percentile

Assets

$1,358,627

No earlier filing loaded for comparison.

Net Assets

$533,911

No earlier filing loaded for comparison.

Liabilities

$824,716

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin97th percentile

Revenue

$533,364

No earlier filing loaded for comparison.

Expenses

$81,912

No earlier filing loaded for comparison.

Net Income

$451,452

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$30M$20M$10M$0Assets 2017: $1,358,627Liabilities 2017: $824,716Net Assets 2017: $533,9112017Assets 2018: $2,840,005Liabilities 2018: $2,079,121Net Assets 2018: $760,8842018Assets 2019: $4,396,815Liabilities 2019: $3,615,977Net Assets 2019: $780,8382019Assets 2020: $9,108,640Liabilities 2020: $7,879,271Net Assets 2020: $1,229,3692020Assets 2021: $14,121,321Liabilities 2021: $12,967,120Net Assets 2021: $1,154,2012021Assets 2022: $19,365,408Liabilities 2022: $18,201,542Net Assets 2022: $1,163,8662022Assets 2023: $22,064,797Liabilities 2023: $19,201,576Net Assets 2023: $2,863,2212023Assets 2024: $22,751,175Liabilities 2024: $19,998,747Net Assets 2024: $2,752,4282024

Highlighted filing

2017

Assets$1,358,627
Liabilities$824,716
Net Assets$533,911
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $533,364Expenses 2017: $81,912Net Income 2017: $451,4522017Revenue 2018: $388,558Expenses 2018: $161,585Net Income 2018: $226,9732018Revenue 2019: $204,850Expenses 2019: $184,896Net Income 2019: $19,9542019Revenue 2020: $4,299,305Expenses 2020: $3,850,774Net Income 2020: $448,5312020Revenue 2021: $787,152Expenses 2021: $862,320Net Income 2021: -$75,1682021Revenue 2022: $867,703Expenses 2022: $858,038Net Income 2022: $9,6652022Revenue 2023: $3,246,368Expenses 2023: $1,547,013Net Income 2023: $1,699,3552023Revenue 2024: $1,537,313Expenses 2024: $1,648,106Net Income 2024: -$110,7932024

Highlighted filing

2017

Revenue$533,364
Expenses$81,912
Net Income$451,452
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 15, 2018
Return Version
2017v2.2
Gross Receipts
$533,364
Mission and Program Overview

Mission

First Southwest Community Fund supports the dedicated entrepreneurial spirit of rural Colorado, by investing in the people, culture and ideas that fuel innovation and financial knowledge in our community, with an emphasis on areas of greatest need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$598,627$804,871▲ $206,244
Savings and Temporary Cash Investments$34,246$548,378▲ $514,132
Cash and Non-Interest-Bearing Accounts$1,400$3,576▲ $2,176
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$635,356$1,358,627▲ $723,271
Other Assets Total$1,083$1,802▲ $719
Liabilities
Other Liabilities$552,897$824,716▲ $271,819
Total Liabilities$552,897$824,716▲ $271,819
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$400,334-
Permanently Rstr Net Assets$82,459$133,909▲ $51,450
Unrestricted Net Assets-$-332-
Total Net Assets Fund Balance$82,459$533,911▲ $451,452
Total Liabilities and Net Assets / Fund Balance$635,356$1,358,627▲ $723,271
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Kent CurtisPresident
Bob RaelBoard
Christie SpearsBoard
Dr Beverlee McclureBoard
Liza MarronBoard
Ty ColemanBoard
William N YoungCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$497,750
Program Service Revenue
$0
Investment Income
$35,614
Other Revenue
$0
All Other Contributions
$67,750
Change in Net Assets
$451,452

Audited Revenue Reconciliation

Revenue per Audited Statements
$533,364
Revenue Not Reported on Form 990
$56,463
Total Revenue per Audited Statements
$589,827
Total Revenue per Form 990
$533,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$81,912
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$44,100--$44,100
Other Expenses$31,305--$31,305
Interest$6,484--$6,484
Office Expenses-$23-$23
Total Functional Expenses$81,889$23$0$81,912

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$138,375
Expenses per Audited Statements$81,912
Total Expenses per Form 990$81,912
Expenses Not Reported on Form 990$56,463
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loans Payable$823,791
Accrued Interest Payable$925
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
First Southwest Community Fund
EIN
47-3061703
Phone
9703751100
Address
PO BOX 1139, ALAMOSA, CO 81101

Signing Officer

Name
William N Young
Title
CFO
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Wall Smith Bateman Inc
Address
700 Main Street Suite 200, Alamosa, CO 81101
Preparer
Karla S Willschau
Phone
7195893619
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“First Southwest Community Fund is exempt from federal income taxes on income substantially related to the Organization's exempt purpose under Section 501 (c)(3) of the Internal Revenue Code. Under Colorado state statutes, any organization receiving exemption from federal income taxes is also exempt from Colorado income taxes.First Southwest Community Fund files federal income tax returns. The Organizations policy for evaluating uncertain income tax positions is to only take income tax positions that are more likely than not to be sustained if the taxing authorities were to examine the positions. If applicable, the Organization classifies interest and penalties as interest expense.”

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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt056463
IRS990ScheduleD/DonatedServicesUseFcltsAmt056463
IRS990ScheduleD/ExpensesNotReportedAmt056463
IRS990ScheduleD/ExpensesSubtotalAmt081912
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0925
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1823791
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOANS PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt056463
IRS990ScheduleD/RevenueSubtotalAmt0533364
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0First Southwest Community Fund is exempt from federal income taxes on income substantially related to the Organization's exempt purpose under Section 501 (c)(3) of the Internal Revenue Code. Under Colorado state statutes, any organization receiving exemption from federal income taxes is also exempt from Colorado income taxes.First Southwest Community Fund files federal income tax returns. The Organizations policy for evaluating uncertain income tax positions is to only take income tax positions that are more likely than not to be sustained if the taxing authorities were to examine the positions. If applicable, the Organization classifies interest and penalties as interest expense.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt081912
IRS990ScheduleD/TotalLiabilityAmt0824716
IRS990ScheduleD/TotalRevenuePerForm990Amt0533364
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0589827
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0138375
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0400334
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0635356
IRS990/TotalAssetsEOYAmt01358627
IRS990/TotalAssetsGrp/BOYAmt0635356
IRS990/TotalAssetsGrp/EOYAmt01358627
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0497750
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt081889
IRS990/TotalFunctionalExpensesGrp/TotalAmt081912
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0552897
IRS990/TotalLiabilitiesEOYAmt0824716
IRS990/TotalLiabilitiesGrp/BOYAmt0552897
IRS990/TotalLiabilitiesGrp/EOYAmt0824716
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt082459
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0533911
IRS990/TotalProgramServiceExpensesAmt081889
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt035614
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0533364
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0635356
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01358627
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-332
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM N YOUNG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST SOUTHWEST COMMUNITY FUND
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0473061703
ReturnHeader/Filer/PhoneNum09703751100
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1139
ReturnHeader/Filer/USAddress/CityNm0ALAMOSA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd081101
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0840684388
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Wall Smith Bateman Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0700 Main Street Suite 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Alamosa
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd081101
ReturnHeader/PreparerPersonGrp/PhoneNum07195893619
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Karla S Willschau
ReturnHeader/ReturnTs02018-05-15T15:12:01-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,358,627
Liabilities
$824,716
Net assets
$533,911
Revenue
$533,364
Expenses
$81,912
Net income
$451,452
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.8$20.0$2.75$1.54$1.65$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.1$19.2$2.86$3.25$1.55$1.70
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$18.2$1.16$0.87$0.86$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$13.0$1.15$0.79$0.86$0.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.11$7.88$1.23$4.30$3.85$0.45
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.40$3.62$0.78$0.20$0.18$0.02
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.84$2.08$0.76$0.39$0.16$0.23
2017Detailed filing. Detailed filing data is available for this year.$1.36$0.82$0.53$0.53$0.08$0.45