Civic Intelligence

First Southwest Community Fund

990 • Fiscal year 2018 • EIN 47-3061703

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 15, 2019

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

87th percentile

0.73x

Higher debt load relative to assets than 87% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

5.35x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

93rd percentile

58%

Higher net margin than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

96th percentile

109%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$2,840,005

Up $1,481,378 (+109%) from 2017

Net Assets

Up

$760,884

Up $226,973 (+43%) from 2017

Liabilities

Up

$2,079,121

Up $1,254,405 (+152%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin93rd percentile

Revenue

Down

$388,558

Down $144,806 (-27%) from 2017

Expenses

Up

$161,585

Up $79,673 (+97%) from 2017

Net Income

Down

$226,973

Down $224,479 (-50%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

2018

Assets$2,840,005
Liabilities$2,079,121
Net Assets$760,884
Open 2018 Filing

Operations Trend

Revenue Growth11th percentile

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

2018

Revenue$388,558
Expenses$161,585
Net Income$226,973
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 15, 2019
Return Version
2018v3.1
Gross Receipts
$388,558
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$804,871$1,936,400▲ $1,131,529
Savings and Temporary Cash Investments$548,378$716,416▲ $168,038
Accounts Receivable-$150,000-
Cash and Non-Interest-Bearing Accounts$3,576$29,571▲ $25,995
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$1,358,627$2,840,005▲ $1,481,378
Other Assets Total$1,802$7,618▲ $5,816
Liabilities
Other Liabilities$824,716$2,079,121▲ $1,254,405
Total Liabilities$824,716$2,079,121▲ $1,254,405
Net Assets / Fund Balance
Temporarily Rstr Net Assets$400,334$521,432▲ $121,098
Permanently Rstr Net Assets$133,909$184,534▲ $50,625
Unrestricted Net Assets$-332$54,918▲ $55,250
Total Net Assets Fund Balance$533,911$760,884▲ $226,973
Total Liabilities and Net Assets / Fund Balance$1,358,627$2,840,005▲ $1,481,378

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$534,243$289,491▲ $91,564$209,332$705,966
2017$82,459$451,450▲ $35,614$35,280$534,243
2016$19,500$62,959▲ $13,857$13,857$82,459
2015-$19,500--$19,500
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
$290,491
Program Service Revenue
$0
Investment Income
$92,168
Other Revenue
$5,899
All Other Contributions
$190,491
Change in Net Assets
$226,973

Audited Revenue Reconciliation

Revenue per Audited Statements
$388,558
Revenue Not Reported on Form 990
$56,796
Total Revenue per Audited Statements
$445,354
Total Revenue per Form 990
$388,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$161,585
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$14,250--$14,250
Interest$13,391--$13,391
Other Expenses$40,821$7-$7
Total Functional Expenses$161,578$7$0$161,585

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$218,381
Expenses per Audited Statements$161,585
Total Expenses per Form 990$161,585
Expenses Not Reported on Form 990$56,796
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$2,073,674
Accrued Interest Payable$5,447
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
2019-10-15
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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt064061
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt029800
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0882102
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt062429
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt035614
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt013857
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0131
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0497750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt064061
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt029800
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0882102
IRS990ScheduleA/TotalSupportAmt0994133
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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/CYEndwmtFundGrp/BeginningYearBalanceAmt0534243
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0289491
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0705966
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt091564
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0209332
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt082459
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0451450
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0534243
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt035614
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt035280
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt019500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt062959
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt082459
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt013857
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt013857
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt019500
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt019500
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt056796
IRS990ScheduleD/DonatedServicesUseFcltsAmt056796
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesNotReportedAmt056796
IRS990ScheduleD/ExpensesSubtotalAmt0161585
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05447
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12073674
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOANS PAYABLE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.27000
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/RevenueNotReportedAmt056796
IRS990ScheduleD/RevenueSubtotalAmt0388558
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/TermEndowmentBalanceEOYPct00.73000
IRS990ScheduleD/TotalExpensesPerForm990Amt0161585
IRS990ScheduleD/TotalLiabilityAmt02079121
IRS990ScheduleD/TotalRevenuePerForm990Amt0388558
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0445354
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0218381
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
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0521432
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01358627
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IRS990/TotalAssetsGrp/BOYAmt01358627
IRS990/TotalAssetsGrp/EOYAmt02840005
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0290491
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0161578
IRS990/TotalFunctionalExpensesGrp/TotalAmt0161585
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0824716
IRS990/TotalLiabilitiesEOYAmt02079121
IRS990/TotalLiabilitiesGrp/BOYAmt0824716
IRS990/TotalLiabilitiesGrp/EOYAmt02079121
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0533911
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0760884
IRS990/TotalProgramServiceExpensesAmt0161578
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt098067
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0388558
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01358627
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02840005
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-332
IRS990/UnrestrictedNetAssetsGrp/EOYAmt054918
IRS990/USAddress/AddressLine1Txt0PO BOX 1139
IRS990/USAddress/CityNm0ALAMOSA
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd081101
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,840,005
Liabilities
$2,079,121
Net assets
$760,884
Revenue
$388,558
Expenses
$161,585
Net income
$226,973
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
2018Detailed filing. Detailed filing data is available for this year.$2.84$2.08$0.76$0.39$0.16$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.82$0.53$0.53$0.08$0.45
Peer Organizations

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