Civic Intelligence

San Luis Valley Development Resources Group

990 • Fiscal year 2023 • EIN 84-0896112

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 03, 2024

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

52nd percentile

0.20x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

81st percentile

1.12x

Higher debt load relative to revenue than 81% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

49th percentile

3.3%

Higher net margin than 49% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

24th percentile

$109,190

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

42nd percentile

3.5%

Faster asset growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

7th percentile

-49%

Faster revenue growth than 7% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$11,631,348

Up $391,551 (+3.5%) from 2022

Net Assets

Up

$9,255,723

Up $71,003 (+0.8%) from 2022

Liabilities

Up

$2,375,625

Up $320,548 (+16%) from 2022

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin49th percentile

Revenue

Down

$2,120,564

Down $2,029,411 (-49%) from 2022

Expenses

Down

$2,049,561

Down $1,552,474 (-43%) from 2022

Net Income

Down

$71,003

Down $476,937 (-87%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2023

Assets$11,631,348
Liabilities$2,375,625
Net Assets$9,255,723
Open 2023 Filing

Operations Trend

Revenue Growth7th 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

2023

Revenue$2,120,564
Expenses$2,049,561
Net Income$71,003
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 3, 2024
Return Version
2023v5.1
Gross Receipts
$2,120,564
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$7,935,032$7,831,106▼ $103,926
Savings and Temporary Cash Investments$1,065,366$1,775,102▲ $709,736
Cash and Non-Interest-Bearing Accounts$1,658,490$1,630,830▼ $27,660
Land, Buildings, and Equipment, Net$169,550$194,864▲ $25,314
Pledges and Grants Receivable$317,318$121,384▼ $195,934
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$11,239,797$11,631,348▲ $391,551
Other Assets Total$94,041$78,062▼ $15,979
Liabilities
Other Liabilities$2,054,952$2,339,030▲ $284,078
Accounts Payable and Accrued Expenses$125$29,095▲ $28,970
Deferred Revenue-$7,500-
Total Liabilities$2,055,077$2,375,625▲ $320,548
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,929,225$6,712,580▲ $783,355
Net Assets With Donor Restrictions$3,255,495$2,543,143▼ $712,352
Total Net Assets Fund Balance$9,184,720$9,255,723▲ $71,003
Total Liabilities and Net Assets / Fund Balance$11,239,797$11,631,348▲ $391,551

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$75,213$96,316$171,529
Land$90,270-$90,270
Equipment$29,381$41,516$70,897
Other Land Buildings-$11,419$11,419
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sarah StoeberExecutive DirectorFT$97,693$11,497$109,190
Anne JonesCFOPT$50,631$5,308$55,939

Board Members and Trustees

NameTitle
Larry ZaragozaChairman
Jack WileyVice Chairman
Bernadette MartinezMember
Gene GloverMember
Jeni Jack-goodwinMember
Karla ShriverMember
Liza MarronMember
Lori DooleyMember
Michael CarsonMember
Ramona WeberMember
Robert EspinozaMember
Stephanie GoldbransonMember
Vern HeersinkMember
Ashley ValdezSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$708,069
Program Service Revenue
$1,342,483
Investment Income
$62,912
Other Revenue
$7,100
All Other Contributions
$51,713
Change in Net Assets
$71,003

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,120,564
Total Revenue per Audited Statements
$2,120,564
Total Revenue per Form 990
$2,120,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,536,026
Salaries, Compensation, and Employee Benefits$513,535
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$234,911$129,265-$364,176
All Other Expenses$124,323$78,992-$203,315
Other Expenses$158,243--$158,243
Other Employee Benefits$68,895$29,833-$98,728
Current Officers, Directors, Trustees, and Key Employees$18,529$32,102-$50,631
Office Expenses$11,161$10,574-$21,735
Fees for Services Legal$20,115--$20,115
Advertising$14,658--$14,658
Interest$9,080--$9,080
Conferences and Meetings$8,622--$8,622
Depreciation Depletion-$8,218-$8,218
Travel$6,721$887-$7,608
Insurance-$5,829-$5,829
Occupancy$2,250--$2,250
Total Functional Expenses$1,753,861$295,700$0$2,049,561

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,049,561
Total Expenses per Audited Statements$2,049,561
Total Expenses per Form 990$2,049,561
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$2,217,150
Loans Payable - Current Portion$79,060
Other Liabilities$42,820
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
2024-10-03
Discuss with paid preparer
Yes

Organization Details

Formed
1994
Legal Domicile
Co
Voting Board Members
14
Independent Board Members
14
Employees
8

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.”

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IRS990/Desc0OTHER SHORT TERM PROJECTS INCLUDING: ASSISTING CDOT WITH TRANSPORTATION PLANNING, PREPARING A MAP OF TOURIST ATTRACTIONS IN THE SAN LUIS VALLEY, ASSISTING IN THE CREATION OF A MULTI-COUNTY TOURISM BASED ITINERARY AND WEB SITE, ASSISTING IN THE CREATION OF A FOOD WAREHOUSE TO BENEFIT THE FOOD BANK NETWORK OF THE SAN LUIS VALLEY AND ASSISTING MINERAL COUNTY BUSINESSES THAT HAVE BEEN IMPACTED BY THE WILDFIRES. THESE PROGRAMS VARY FROM YEAR TO YEAR.
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31042676
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,631,348
Liabilities
$2,375,625
Net assets
$9,255,723
Revenue
$2,120,564
Expenses
$2,049,561
Net income
$71,003
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