Civic Intelligence

New Mexico First

990 • Fiscal year 2024 • EIN 85-0350387

Jul 01, 2023 to Jun 30, 2024 • Filed on May 09, 2025

Organization ProfileWWW.NMFIRST.ORG
32 Priestly PlaceCorrales, NM 87048

(505) 715-3693

Siviq Scores

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

Liabilities / Assets

57th percentile

0.03x

Higher debt load relative to assets than 57% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

0.19x

Higher debt load relative to revenue than 77% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

1st percentile

-333%

Higher net margin than 1% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

5th percentile

-39%

Faster asset growth than 5% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

3rd percentile

-69%

Faster revenue growth than 3% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$341,094

Down $218,334 (-39%) from 2023

Net Assets

Down

$329,433

Down $198,109 (-38%) from 2023

Liabilities

Down

$11,661

Down $20,225 (-63%) from 2023

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin1st percentile

Revenue

Down

$62,672

Down $140,818 (-69%) from 2023

Expenses

Down

$271,216

Down $206,474 (-43%) from 2023

Net Income

Up

-$208,544

Up $65,656 (+24%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $597,809Liabilities 2011: $51,431Net Assets 2011: $546,3782011Assets 2012: $579,052Liabilities 2012: $49,975Net Assets 2012: $529,0772012Assets 2013: $629,853Liabilities 2013: $47,816Net Assets 2013: $582,0372013Assets 2014: $711,307Liabilities 2014: $96,598Net Assets 2014: $614,7092014Assets 2015: $697,664Liabilities 2015: $68,632Net Assets 2015: $629,0322015Assets 2016: $759,415Liabilities 2016: $94,291Net Assets 2016: $665,1242016Assets 2017: $819,759Liabilities 2017: $145,279Net Assets 2017: $674,4802017Assets 2018: $754,139Liabilities 2018: $102,380Net Assets 2018: $651,7592018Assets 2019: $809,133Liabilities 2019: $101,556Net Assets 2019: $707,5772019Assets 2020: $936,760Liabilities 2020: $169,805Net Assets 2020: $766,9552020Assets 2021: $1,109,340Liabilities 2021: $131,261Net Assets 2021: $978,0792021Assets 2022: $913,120Liabilities 2022: $103,136Net Assets 2022: $809,9842022Assets 2023: $559,428Liabilities 2023: $31,886Net Assets 2023: $527,5422023Assets 2024: $341,094Liabilities 2024: $11,661Net Assets 2024: $329,4332024

Highlighted filing

2024

Assets$341,094
Liabilities$11,661
Net Assets$329,433
Open 2024 Filing

Operations Trend

Revenue Growth3rd percentile

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

$1.0M$500K$0-$500KRevenue 2011: $435,309Expenses 2011: $431,742Net Income 2011: $3,5672011Revenue 2012: $474,761Expenses 2012: $475,365Net Income 2012: -$6042012Revenue 2013: $472,369Expenses 2013: $425,922Net Income 2013: $46,4472013Revenue 2014: $448,081Expenses 2014: $466,060Net Income 2014: -$17,9792014Revenue 2015: $512,911Expenses 2015: $490,268Net Income 2015: $22,6432015Revenue 2016: $552,180Expenses 2016: $501,143Net Income 2016: $51,0372016Revenue 2017: $575,838Expenses 2017: $595,609Net Income 2017: -$19,7712017Revenue 2018: $731,085Expenses 2018: $721,181Net Income 2018: $9,9042018Revenue 2019: $915,607Expenses 2019: $832,420Net Income 2019: $83,1872019Revenue 2020: $698,728Expenses 2020: $645,012Net Income 2020: $53,7162020Revenue 2021: $810,924Expenses 2021: $656,498Net Income 2021: $154,4262021Revenue 2022: $569,223Expenses 2022: $615,236Net Income 2022: -$46,0132022Revenue 2023: $203,490Expenses 2023: $477,690Net Income 2023: -$274,2002023Revenue 2024: $62,672Expenses 2024: $271,216Net Income 2024: -$208,5442024

Highlighted filing

2024

Revenue$62,672
Expenses$271,216
Net Income-$208,544
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 9, 2025
Return Version
2023v6.0
Gross Receipts
$676,485
Mission and Program Overview

Mission

Nm first, a public policy org., engages people in important state/community issues. Unique town halls/forums create recommendations for policymakers and the public. Nonpartisan policy reports on critical issues, such as water, educ., healthcare, the economy, and energy are produced for entities.

The mission of new mexico first is to be a nonpartisan catalyst for positive change by conducting independent research, engaging new mexicans in policy, and enabling action.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$407,949$247,228▼ $160,721
Cash and Non-Interest-Bearing Accounts$8,721$57,666▲ $48,945
Land, Buildings, and Equipment, Net$2,546$1,323▼ $1,223
Accounts Receivable$103,224$136▼ $103,088
Prepaid Expenses and Deferred Charges$1,750$102▼ $1,648
Total Assets$559,428$341,094▼ $218,334
Other Assets Total$35,238$34,639▼ $599
Liabilities
Accounts Payable and Accrued Expenses$31,886$11,661▼ $20,225
Total Liabilities$31,886$11,661▼ $20,225
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$493,903$295,794▼ $198,109
Net Assets With Donor Restrictions$33,639$33,639→ $0
Total Net Assets Fund Balance$527,542$329,433▼ $198,109
Total Liabilities and Net Assets / Fund Balance$559,428$341,094▼ $218,334

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,323$26,928$28,251
Other Land Buildings-$1,357$1,357
Other Assets Org$1,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$33,639---$33,639
2022$33,639---$33,639
2021$40,720-▼ $5,280$1,801$33,639
2020$33,366-▲ $8,730$1,376$40,720
2019$34,172-▲ $542$1,348$33,366
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Heather BalasChair
Barbara BrazilVice Chair,
Martha RomeroVice Chair,
Melissa Toledo-ontiverosVice Chair,
Donald LopezDirector
Michael BarndollarDirector
Rob BlackDirector
Nichole RogersSecretary
Marcus MimsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$34,224
Program Service Revenue
$0
Investment Income
$28,340
Other Revenue
$108
All Other Contributions
$34,224
Change in Net Assets
$-208,544
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$171,979
Other Expenses$99,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,371$124,355-$144,726
Fees for Services Other$10,000$28,585-$38,585
Occupancy-$16,000-$16,000
Payroll Taxes$1,571$11,695-$13,266
Other Employee Benefits$2,506$9,339-$11,845
Insurance-$9,520-$9,520
Information Technology-$3,948-$3,948
Fees for Service Investment Mgmnt Fees-$2,667-$2,667
Travel$312$1,967-$2,279
Pension Plan Contributions$392$1,750-$2,142
Depreciation Depletion$1,223--$1,223
Office Expenses-$894-$894
Other Expenses-$848-$848
Conferences and Meetings-$782-$782
Interest-$213-$213
Total Functional Expenses$36,375$234,841$0$271,216
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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, Page 6, Part VI, Line 6

“The organization has members. Members receive email alerts on organizational activities and events around the state. Members do not vote on officers, directors or organizational policies.”

Form 990, Page 6, Part VI, Line 11B

“The 990 is prepared by an independent cpa. A draft is presented to the executive director and finance personnel to review and answer questions posed. Once it is in final draft form, the draft is posted on the board of director's section of the website prior to filing the form 990.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy is presented annually during the organization's orientation for new board members. When any transactions arise that might present a conflict of interest, the affected board member recuses her/himself from the vote and/or decision.”

Form 990, Page 6, Part VI, Line 15A

“Nmf's board conducts an annual review for the president and executive director and makes any determinations about increase in salary or bonuses.”

Form 990, Page 6, Part VI, Line 15B

“Nmf's executive director conducted reviews with staff. For those who received a promotion within the year, the executive director did a salary comparison on payscale.com.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
New Mexico First
EIN
85-0350387
Phone
5057153693
Address
32 PRIESTLY PLACE, CORRALES, NM 87048

Signing Officer

Name
Heather Balas
Title
Chair
Phone
5052414813
Signed
2025-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Balas
Formed
1986
Legal Domicile
Nm
Voting Board Members
9
Independent Board Members
9
Employees
3

Preparer

Firm
Hinkle Landers Pc
Address
2500 9TH ST NW, ALBUQUERQUE, NM 87102-1055
Preparer
Jeremy T Richter
Phone
5058838788
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contracted services 10,000 28,585 0”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Earnings from the endowment fund are not restricted. The earnings are used primarily for operations, but may be used in any way the board deems necessary to carry on the exempt purpose of the organization.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 4,611
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt033639
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt040720
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt033639
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-5280
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt01801
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt033366
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt040720
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt08730
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01376
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt033366
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0542
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt01348
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt01323
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026928
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028251
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt033639
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ENDOWMENT FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01357
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01357
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EARNINGS FROM THE ENDOWMENT FUND ARE NOT RESTRICTED. THE EARNINGS ARE USED PRIMARILY FOR OPERATIONS, BUT MAY BE USED IN ANY WAY THE BOARD DEEMS NECESSARY TO CARRY ON THE EXEMPT PURPOSE OF THE ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. MEMBERS RECEIVE EMAIL ALERTS ON ORGANIZATIONAL ACTIVITIES AND EVENTS AROUND THE STATE. MEMBERS DO NOT VOTE ON OFFICERS, DIRECTORS OR ORGANIZATIONAL POLICIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PREPARED BY AN INDEPENDENT CPA. A DRAFT IS PRESENTED TO THE EXECUTIVE DIRECTOR AND FINANCE PERSONNEL TO REVIEW AND ANSWER QUESTIONS POSED. ONCE IT IS IN FINAL DRAFT FORM, THE DRAFT IS POSTED ON THE BOARD OF DIRECTOR'S SECTION OF THE WEBSITE PRIOR TO FILING THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS PRESENTED ANNUALLY DURING THE ORGANIZATION'S ORIENTATION FOR NEW BOARD MEMBERS. WHEN ANY TRANSACTIONS ARISE THAT MIGHT PRESENT A CONFLICT OF INTEREST, THE AFFECTED BOARD MEMBER RECUSES HER/HIMSELF FROM THE VOTE AND/OR DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NMF'S BOARD CONDUCTS AN ANNUAL REVIEW FOR THE PRESIDENT AND EXECUTIVE DIRECTOR AND MAKES ANY DETERMINATIONS ABOUT INCREASE IN SALARY OR BONUSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NMF'S EXECUTIVE DIRECTOR CONDUCTED REVIEWS WITH STAFF. FOR THOSE WHO RECEIVED A PROMOTION WITHIN THE YEAR, THE EXECUTIVE DIRECTOR DID A SALARY COMPARISON ON PAYSCALE.COM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONTRACTED SERVICES 10,000 28,585 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$341,094
Liabilities
$11,661
Net assets
$329,433
Revenue
$62,672
Expenses
$271,216
Net income
-$208,544
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.34$0.01$0.33$0.06$0.27$0.21
2023Summary only. Only limited summary data is available for this year.$0.56$0.03$0.53$0.20$0.48$0.27
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.10$0.81$0.57$0.62$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.13$0.98$0.81$0.66$0.15
2020Summary only. Only limited summary data is available for this year.$0.94$0.17$0.77$0.70$0.65$0.05
2019Summary only. Only limited summary data is available for this year.$0.81$0.10$0.71$0.92$0.83$0.08
2018Summary only. Only limited summary data is available for this year.$0.75$0.10$0.65$0.73$0.72$0.01
2017Summary only. Only limited summary data is available for this year.$0.82$0.15$0.67$0.58$0.60$0.02
2016Summary only. Only limited summary data is available for this year.$0.76$0.09$0.67$0.55$0.50$0.05
2015Summary only. Only limited summary data is available for this year.$0.70$0.07$0.63$0.51$0.49$0.02
2014Summary only. Only limited summary data is available for this year.$0.71$0.10$0.61$0.45$0.47$0.02
2013Summary only. Only limited summary data is available for this year.$0.63$0.05$0.58$0.47$0.43$0.05
2012Summary only. Only limited summary data is available for this year.$0.58$0.05$0.53$0.47$0.48$0.00
2011Summary only. Only limited summary data is available for this year.$0.60$0.05$0.55$0.44$0.43$0.00