Civic Intelligence

San Luis Valley Development Resources Group

990 • Fiscal year 2022 • EIN 84-0896112

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization Profileslvdrg.org
610 State Ave Suite 200Alamosa, CO 81101

(719) 589-6099

Siviq Scores

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

Liabilities / Assets

51st percentile

0.18x

Higher debt load relative to assets than 51% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.50x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

63rd percentile

13%

Higher net margin than 63% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

25th percentile

$109,410

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

79th percentile

19%

Faster asset growth than 79% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

88th percentile

59%

Faster revenue growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$11,239,797

Up $1,778,202 (+19%) from 2021

Net Assets

Up

$9,184,720

Up $547,955 (+6.3%) from 2021

Liabilities

Up

$2,055,077

Up $1,230,247 (+149%) from 2021

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin63rd percentile

Revenue

Up

$4,149,975

Up $1,537,038 (+59%) from 2021

Expenses

Up

$3,602,035

Up $2,234,011 (+163%) from 2021

Net Income

Down

$547,940

Down $696,973 (-56%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$15M$10M$5.0M$0Assets 2011: $4,757,033Liabilities 2011: $327,498Net Assets 2011: $4,429,5352011Assets 2012: $4,838,694Liabilities 2012: $426,420Net Assets 2012: $4,412,2742012Assets 2013: $4,873,307Liabilities 2013: $511,056Net Assets 2013: $4,362,2512013Assets 2014: $6,067,988Liabilities 2014: $483,495Net Assets 2014: $5,584,4932014Assets 2015: $7,504,622Liabilities 2015: $1,445,224Net Assets 2015: $6,059,3982015Assets 2016: $7,386,184Liabilities 2016: $1,468,754Net Assets 2016: $5,917,4302016Assets 2017: $7,503,706Liabilities 2017: $1,486,344Net Assets 2017: $6,017,3622017Assets 2018: $7,265,906Liabilities 2018: $831,878Net Assets 2018: $6,434,0282018Assets 2019: $7,682,314Liabilities 2019: $743,384Net Assets 2019: $6,938,9302019Assets 2020: $8,132,047Liabilities 2020: $740,195Net Assets 2020: $7,391,8522020Assets 2021: $9,461,595Liabilities 2021: $824,830Net Assets 2021: $8,636,7652021Assets 2022: $11,239,797Liabilities 2022: $2,055,077Net Assets 2022: $9,184,7202022Assets 2023: $11,631,348Liabilities 2023: $2,375,625Net Assets 2023: $9,255,7232023Assets 2024: $11,373,895Liabilities 2024: $2,258,025Net Assets 2024: $9,115,8702024

Highlighted filing

2022

Assets$11,239,797
Liabilities$2,055,077
Net Assets$9,184,720
Open 2022 Filing

Operations Trend

Revenue Growth88th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $940,262Expenses 2011: $882,478Net Income 2011: $57,7842011Expenses 2012: $1,045,8612012Revenue 2013: $970,315Expenses 2013: $1,020,338Net Income 2013: -$50,0232013Revenue 2014: $1,988,985Expenses 2014: $766,743Net Income 2014: $1,222,2422014Revenue 2015: $1,238,722Expenses 2015: $763,817Net Income 2015: $474,9052015Revenue 2016: $715,093Expenses 2016: $857,061Net Income 2016: -$141,9682016Revenue 2017: $765,254Expenses 2017: $665,322Net Income 2017: $99,9322017Revenue 2018: $1,011,276Expenses 2018: $591,141Net Income 2018: $420,1352018Revenue 2019: $2,272,248Expenses 2019: $1,767,346Net Income 2019: $504,9022019Revenue 2020: $1,873,756Expenses 2020: $1,420,834Net Income 2020: $452,9222020Revenue 2021: $2,612,937Expenses 2021: $1,368,024Net Income 2021: $1,244,9132021Revenue 2022: $4,149,975Expenses 2022: $3,602,035Net Income 2022: $547,9402022Revenue 2023: $2,120,564Expenses 2023: $2,049,561Net Income 2023: $71,0032023Revenue 2024: $1,270,859Expenses 2024: $1,410,712Net Income 2024: -$139,8532024

Highlighted filing

2022

Revenue$4,149,975
Expenses$3,602,035
Net Income$547,940
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$4,218,679
Mission and Program Overview

Mission

Economic development planning for local governments and agencies and administration of revolving loan fund.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,493,576$7,935,032▲ $1,441,456
Cash and Non-Interest-Bearing Accounts$1,266,466$1,658,490▲ $392,024
Savings and Temporary Cash Investments$949,125$1,065,366▲ $116,241
Pledges and Grants Receivable$431,653$317,318▼ $114,335
Land, Buildings, and Equipment, Net$179,112$169,550▼ $9,562
Accounts Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$9,461,595$11,239,797▲ $1,778,202
Other Assets Total$141,663$94,041▼ $47,622
Liabilities
Other Liabilities$824,822$2,054,952▲ $1,230,130
Accounts Payable and Accrued Expenses$8$125▲ $117
Total Liabilities$824,830$2,055,077▲ $1,230,247
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,091,542$5,929,225▼ $162,317
Net Assets With Donor Restrictions$2,545,223$3,255,495▲ $710,272
Total Net Assets Fund Balance$8,636,765$9,184,720▲ $547,955
Total Liabilities and Net Assets / Fund Balance$9,461,595$11,239,797▲ $1,778,202

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$74,690$87,839$162,529
Land$90,270-$90,270
Equipment$4,590$41,775$46,365
Other Land Buildings-$11,419$11,419
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kevin WilkinsExecutive DirectorFT$109,410$109,410
Ann JonesCFOFT$89,278$89,278

Board Members and Trustees

NameTitle
John NoffskerChairman
Larry ZaragozaVice Chairman
Jack WileyMember
Jeni Jack-goodwinMember
Karla ShriverMember
Michael CarsonMember
Michael YohnMember
Ramona WeberMember
Robert EspinozaMember
Tom MccrakenMember
Ashley ValdezSecretary/treas
Revenue and Support

Revenue Composition

Contributions and Grants
$2,311,604
Program Service Revenue
$1,747,674
Investment Income
$68,647
Other Revenue
$22,050
All Other Contributions
$40,761
Change in Net Assets
$547,940

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,149,975
Revenue Not Reported on Form 990
$283,080
Total Revenue per Audited Statements
$4,433,055
Total Revenue per Form 990
$4,149,975
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,008,661
Salaries, Compensation, and Employee Benefits$593,374
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$263,856--$263,856
Current Officers, Directors, Trustees, and Key Employees$134,551$65,236-$199,787
All Other Expenses$174,420$9,189-$183,609
Other Expenses$145,463--$145,463
Other Employee Benefits$83,934$18,884-$102,818
Payroll Taxes$25,248$1,665-$26,913
Office Expenses$15,124$4,798-$19,922
Occupancy$18,000--$18,000
Travel$12,883$1,193-$14,076
Conferences and Meetings$11,075--$11,075
Depreciation Depletion-$8,218-$8,218
Insurance-$7,124-$7,124
Interest$4,386--$4,386
Advertising$936--$936
Total Functional Expenses$3,485,728$116,307$0$3,602,035

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,885,115
Expenses per Audited Statements$3,602,035
Total Expenses per Form 990$3,602,035
Expenses Not Reported on Form 990$283,080
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
Deferred Gain on Sale$1,981,308
Other Liabilities$33,742
Deferred Revenue$30,000
Loans Payable - Current Portion$9,902
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“Minutes are prepared for board meetings”

Form 990, Part VI, Section B, Line 11B

“The form 990 will be reviewed by the cfo.”

Form 990, Part VI, Section B, Line 12C

“This is a small organization within a small community. Most people in the community know who is related to other parties including employees and executive board members.”

Form 990, Part VI, Section B, Line 15B

“Salaries and raises are approved by the board.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
San Luis Valley Development Resources
EIN
84-0896112
Phone
7195896099
Address
610 STATE AVE SUITE 200, ALAMOSA, CO 81101

Signing Officer

Name
Sarah Stoeber
Title
Executive Director
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1994
Legal Domicile
Co
Voting Board Members
11
Independent Board Members
11
Employees
7

Preparer

Firm
Wall Smith Bateman Inc
Address
3001 Adcock Cir, Alamosa, CO 81101
Preparer
Ronald Simmons CPA
Phone
7195893619
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The DRG 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. The DRG files federal income tax returns. The federal income tax returns are generally subject to examination by the Internal Revenue Service for three years after they are filed. The DRGs 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 DRG classifies interest and penalties as interest expense.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Flow thru to other organization $283080”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Flow thru to other organization $283080”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/TREAS
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt018050
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IRS990/OtherExpensesGrp/Desc1EDA RESTRICTION RELIEF
IRS990/OtherExpensesGrp/Desc2PROJECT EXPENSE
IRS990/OtherExpensesGrp/Desc3PRINCIPAL REPAYMENT TRANSFER
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IRS990/OtherExpensesGrp/ProgramServicesAmt1929670
IRS990/OtherExpensesGrp/ProgramServicesAmt2204477
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IRS990/OtherExpensesGrp/TotalAmt01461705
IRS990/OtherExpensesGrp/TotalAmt1929670
IRS990/OtherExpensesGrp/TotalAmt2204477
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt07935032
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01665
IRS990/PayrollTaxesGrp/ProgramServicesAmt025248
IRS990/PayrollTaxesGrp/TotalAmt026913
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM INCOME
IRS990/ProgramServiceRevenueGrp/Desc3RLF INTEREST/LOAN FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt143727
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt241157
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31443786
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt143727
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt241157
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31443786
IRS990/ProgSrvcAccomActy2Grp/Desc0REVOLVING LOAN FUNDS ARE USED TO PROVIDE COMMERCIAL FINANCING TO FOR-PROFIT BUSINESSES LOCATED IN THE SIX COUNTIES ENCOMPASSING THE SAN LUIS VALLEY.FINANCING IS ALSO AVAILABLE FOR BUSINESS EXPANSION, START-UPS, AND RETENTIONS.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0982279
IRS990/ProgSrvcAccomActy3Grp/Desc0ENTERPRISE ZONE MARKETING FUNDS USED TO ADMINISTER AND PROMOTE THE UPPER ARKANSAS/SAN LUIS VALLEY ENTERPRISE ZONE. THE PROGRAM ADVERTISES AND RECRUITS COMPANIES THAT MAY WANT TO RELOCATE TO THE SAN LUIS VALLEY, AS WELL AS THE EXPANSION OF EXISTING COMPANIES.
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01656427
IRS990/PYExcessBenefitTransInd0false
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IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0788153
IRS990/PYOtherRevenueAmt013650
IRS990/PYProgramServiceRevenueAmt0875897
IRS990/PYRevenuesLessExpensesAmt01244913
IRS990/PYSalariesCompEmpBnftPaidAmt0579871
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0563389
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0608529
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt05147
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01073581

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,239,797
Liabilities
$2,055,077
Net assets
$9,184,720
Revenue
$4,149,975
Expenses
$3,602,035
Net income
$547,940
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$2.26$9.12$1.27$1.41$0.14
2023Detailed filing. Detailed filing data is available for this year.$11.6$2.38$9.26$2.12$2.05$0.07
2022Detailed filing. Detailed filing data is available for this year.$11.2$2.06$9.18$4.15$3.60$0.55
2021Detailed filing. Detailed filing data is available for this year.$9.46$0.82$8.64$2.61$1.37$1.24
2020Detailed filing. Detailed filing data is available for this year.$8.13$0.74$7.39$1.87$1.42$0.45
2019Detailed filing. Detailed filing data is available for this year.$7.68$0.74$6.94$2.27$1.77$0.50
2018Detailed filing. Detailed filing data is available for this year.$7.27$0.83$6.43$1.01$0.59$0.42
2017Detailed filing. Detailed filing data is available for this year.$7.50$1.49$6.02$0.77$0.67$0.10
2016Detailed filing. Detailed filing data is available for this year.$7.39$1.47$5.92$0.72$0.86$0.14
2015Detailed filing. Detailed filing data is available for this year.$7.50$1.45$6.06$1.24$0.76$0.47
2014Detailed filing. Detailed filing data is available for this year.$6.07$0.48$5.58$1.99$0.77$1.22
2013Detailed filing. Detailed filing data is available for this year.$4.87$0.51$4.36$0.97$1.02$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.84$0.43$4.41$1.05
2011Summary only. Only limited summary data is available for this year.$4.76$0.33$4.43$0.94$0.88$0.06