Civic Intelligence

First Southwest Community Fund

990 • Fiscal year 2019 • EIN 47-3061703

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

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

89th percentile

0.82x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

99th percentile

17.65x

Higher debt load relative to revenue than 99% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

65th percentile

9.7%

Higher net margin than 65% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

92nd percentile

55%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-47%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$4,396,815

Up $1,556,810 (+55%) from 2018

Net Assets

Up

$780,838

Up $19,954 (+2.6%) from 2018

Liabilities

Up

$3,615,977

Up $1,536,856 (+74%) from 2018

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin65th percentile

Revenue

Down

$204,850

Down $183,708 (-47%) from 2018

Expenses

Up

$184,896

Up $23,311 (+14%) from 2018

Net Income

Down

$19,954

Down $207,019 (-91%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2019

Assets$4,396,815
Liabilities$3,615,977
Net Assets$780,838
Open 2019 Filing

Operations Trend

Revenue Growth5th 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

2019

Revenue$204,850
Expenses$184,896
Net Income$19,954
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.0
Gross Receipts
$204,850
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$1,936,400$2,396,700▲ $460,300
Savings and Temporary Cash Investments$716,416$1,936,778▲ $1,220,362
Accounts Receivable$150,000$38,853▼ $111,147
Cash and Non-Interest-Bearing Accounts$29,571$10,184▼ $19,387
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$2,840,005$4,396,815▲ $1,556,810
Other Assets Total$7,618$14,300▲ $6,682
Liabilities
Other Liabilities$2,079,121$3,615,977▲ $1,536,856
Total Liabilities$2,079,121$3,615,977▲ $1,536,856
Net Assets / Fund Balance
Net Assets With Donor Restrictions$705,966$737,258▲ $31,292
Net Assets Without Donor Restrictions$54,918$43,580▼ $11,338
Total Net Assets Fund Balance$760,884$780,838▲ $19,954
Total Liabilities and Net Assets / Fund Balance$2,840,005$4,396,815▲ $1,556,810

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$705,966$19,954▲ $142,952$131,614$737,258
2018$534,243$226,973▲ $92,168$147,418$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 Pay36th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$61,898
Program Service Revenue
$0
Investment Income
$142,952
Other Revenue
$0
All Other Contributions
$40,000
Change in Net Assets
$19,954

Audited Revenue Reconciliation

Revenue per Audited Statements
$204,850
Revenue Not Reported on Form 990
$33,600
Total Revenue per Audited Statements
$238,450
Total Revenue per Form 990
$204,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$165,915
Salaries, Compensation, and Employee Benefits$18,981
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$38,394$51,007-$38,394
Interest$37,224--$37,224
Other Salaries and Wages-$18,981-$18,981
Total Functional Expenses$114,908$69,988$0$184,896

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$218,496
Expenses per Audited Statements$184,896
Total Expenses per Form 990$184,896
Expenses Not Reported on Form 990$33,600
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$3,542,131
Current Loan Payable$49,093
Accrued Interest Payable$24,150
Escrow$603
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
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
2020-11-09
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Co
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Wall Smith Bateman Inc
Address
3001 Adcock Cir, 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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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.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,396,815
Liabilities
$3,615,977
Net assets
$780,838
Revenue
$204,850
Expenses
$184,896
Net income
$19,954
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
2019Detailed filing. Detailed filing data is available for this year.$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
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