Civic Intelligence

First Southwest Community Fund

990 • Fiscal year 2020 • EIN 47-3061703

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 22, 2021

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

0.87x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.83x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

63rd percentile

10%

Higher net margin than 63% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

27th percentile

$61,119

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

95th percentile

107%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

1999%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$9,108,640

Up $4,711,825 (+107%) from 2019

Net Assets

Up

$1,229,369

Up $448,531 (+57%) from 2019

Liabilities

Up

$7,879,271

Up $4,263,294 (+118%) from 2019

Revenue

Up

$4,299,305

Up $4,094,455 (+1999%) from 2019

Expenses

Up

$3,850,774

Up $3,665,878 (+1983%) from 2019

Net Income

Up

$448,531

Up $428,577 (+2148%) from 2019

Historical Trend

Balance Sheet Trend

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

2020

Assets$9,108,640
Liabilities$7,879,271
Net Assets$1,229,369

Operations Trend

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

2020

Revenue$4,299,305
Expenses$3,850,774
Net Income$448,531
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 22, 2021
Return Version
2020v4.0
Gross Receipts
$4,299,305
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$2,396,700$5,239,915▲ $2,843,215
Savings and Temporary Cash Investments$1,936,778$3,587,698▲ $1,650,920
Cash and Non-Interest-Bearing Accounts$10,184$180,600▲ $170,416
Accounts Receivable$38,853$72,163▲ $33,310
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$4,396,815$9,108,640▲ $4,711,825
Other Assets Total$14,300$28,264▲ $13,964
Liabilities
Other Liabilities$3,615,977$7,879,271▲ $4,263,294
Total Liabilities$3,615,977$7,879,271▲ $4,263,294
Net Assets / Fund Balance
Net Assets With Donor Restrictions$737,258$980,943▲ $243,685
Net Assets Without Donor Restrictions$43,580$248,426▲ $204,846
Total Net Assets Fund Balance$780,838$1,229,369▲ $448,531
Total Liabilities and Net Assets / Fund Balance$4,396,815$9,108,640▲ $4,711,825

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$737,258$243,685▲ $187,496$187,496$980,943
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cassandra J Walker HarveyExecutive DirectorPT$61,119$61,119

Board Members and Trustees

NameTitle
Kent CurtisPresident
Dr Beverlee McclureDirector
Liza MarronDirector
Ty ColemanDirector
Christie SpearsSecretary
Mike RoqueTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,090,377
Program Service Revenue
$0
Investment Income
$208,928
Other Revenue
$0
All Other Contributions
$257,439
Change in Net Assets
$448,531

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,299,305
Revenue Not Reported on Form 990
$56,800
Total Revenue per Audited Statements
$4,356,105
Total Revenue per Form 990
$4,299,305
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,333,022
Other Expenses$437,934
Salaries, Compensation, and Employee Benefits$79,818
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,333,022--$3,333,022
Interest$67,133--$67,133
Current Officers, Directors, Trustees, and Key Employees$61,089--$61,089
Other Expenses$21,607$53,350-$21,607
Payroll Taxes-$18,729-$18,729
All Other Expenses$30$3,676-$3,706
Total Functional Expenses$3,775,019$75,755$0$3,850,774

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,907,574
Expenses per Audited Statements$3,850,774
Total Expenses per Form 990$3,850,774
Expenses Not Reported on Form 990$56,800
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See attachmentAlamosa, CO--$3,333,022
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$7,795,659
Current Loan Payable$52,686
Accrued Interest Payable$29,644
Escrow$1,282
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
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
Cassandra J Walker Harvey
Title
Executive Director
Signed
2021-10-22
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
1

Preparer

Firm
Wall Smith Bateman Inc
Address
3001 Adcock Cir, Alamosa, CO 81101
Preparer
Ronald Simmons
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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IRS990/ReconcilationRevenueExpnssAmt0448531
IRS990/RelatedEntityInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01936778
IRS990/SavingsAndTempCashInvstGrp/EOYAmt03587698
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04090377
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt061898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0290491
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0497750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt064061
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05004577
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0208928
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0142952
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt062429
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt035614
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt013857
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0463780
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.91520
IRS990ScheduleA/PublicSupportTotal170Amt05004577
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04090377
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt061898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0290491
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0497750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt064061
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05004577
IRS990ScheduleA/TotalSupportAmt05468357
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/BeginningYearBalanceAmt0737258
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0243685
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0980943
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0187496
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0187496
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt019954
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0737258
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0142952
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0131614
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0534243
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0226973
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0705966
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt092168
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0147418
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt035614
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt035280
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt019500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt062959
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt082459
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt013857
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt013857
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt056800
IRS990ScheduleD/DonatedServicesUseFcltsAmt056800
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesNotReportedAmt056800
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt152686
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21282
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt37795659
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CURRENT LOAN PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ESCROW
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3LOANS PAYABLE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.25000
IRS990ScheduleD/RelatedOrgListSchRInd0false
IRS990ScheduleD/RevenueNotReportedAmt056800
IRS990ScheduleD/RevenueSubtotalAmt04299305
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/TermEndowmentBalanceEOYPct00.75000
IRS990ScheduleD/TotalExpensesPerForm990Amt03850774
IRS990ScheduleD/TotalLiabilityAmt07879271
IRS990ScheduleD/TotalRevenuePerForm990Amt04299305
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04356105
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03907574
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt03333022
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0See attachment
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 1139
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ALAMOSA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CO
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd081101
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IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/TotalFunctionalExpensesGrp/ProgramServicesAmt03775019
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03615977
IRS990/TotalLiabilitiesEOYAmt07879271
IRS990/TotalLiabilitiesGrp/BOYAmt03615977
IRS990/TotalLiabilitiesGrp/EOYAmt07879271

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