Civic Intelligence

Carlsbad Industrial Action Inc

990 • Fiscal year 2019 • EIN 85-6014972

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 04, 2019

Organization ProfileWWW.DEVELOPCARLSBAD.ORG

View Organization Page

400-2 Cascades Avenue 201Carlbad, NM 88220

(575) 887-6562

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.02x

Higher debt load relative to assets than 23% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

30th percentile

0.06x

Higher debt load relative to revenue than 30% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

15th percentile

-6.8%

Higher net margin than 15% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

46th percentile

$128,942

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 14.6% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

11th percentile

-9.7%

Faster asset growth than 11% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

46th percentile

2.3%

Faster revenue growth than 46% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$2,247,590

Down $240,949 (-9.7%) from 2018

Net Assets

Down

$2,196,510

Down $239,264 (-9.8%) from 2018

Liabilities

Down

$51,080

Down $1,685 (-3.2%) from 2018

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin15th percentile

Revenue

Up

$881,664

Up $19,591 (+2.3%) from 2018

Expenses

Up

$941,219

Up $151,608 (+19%) from 2018

Net Income

Down

-$59,555

Down $132,017 (-182%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

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

$3.0M$2.0M$1.0M$0Assets 2016: $2,765,339Liabilities 2016: $214,741Net Assets 2016: $2,550,5982016Assets 2017: $2,577,203Liabilities 2017: $213,891Net Assets 2017: $2,363,3122017Assets 2018: $2,488,539Liabilities 2018: $52,765Net Assets 2018: $2,435,7742018Assets 2019: $2,247,590Liabilities 2019: $51,080Net Assets 2019: $2,196,5102019Assets 2020: $2,308,827Liabilities 2020: $66,969Net Assets 2020: $2,241,8582020Assets 2021: $2,518,008Liabilities 2021: $87,280Net Assets 2021: $2,430,7282021Assets 2022: $2,685,427Liabilities 2022: $159,295Net Assets 2022: $2,526,1322022Assets 2023: $2,318,543Liabilities 2023: $54,380Net Assets 2023: $2,264,1632023Assets 2024: $2,247,673Liabilities 2024: $255,584Net Assets 2024: $1,992,0892024

Highlighted filing

2019

Assets$2,247,590
Liabilities$51,080
Net Assets$2,196,510
Open 2019 Filing

Operations Trend

Revenue Growth46th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $831,411Expenses 2016: $650,324Net Income 2016: $181,0872016Revenue 2017: $605,071Expenses 2017: $792,357Net Income 2017: -$187,2862017Revenue 2018: $862,073Expenses 2018: $789,611Net Income 2018: $72,4622018Revenue 2019: $881,664Expenses 2019: $941,219Net Income 2019: -$59,5552019Revenue 2020: $1,062,839Expenses 2020: $1,017,491Net Income 2020: $45,3482020Revenue 2021: $940,607Expenses 2021: $751,727Net Income 2021: $188,8802021Revenue 2022: $903,011Expenses 2022: $807,607Net Income 2022: $95,4042022Revenue 2023: $777,531Expenses 2023: $877,741Net Income 2023: -$100,2102023Revenue 2024: $788,288Expenses 2024: $999,862Net Income 2024: -$211,5742024

Highlighted filing

2019

Revenue$881,664
Expenses$941,219
Net Income-$59,555
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 4, 2019
Return Version
2018v3.1
Gross Receipts
$881,664
Mission and Program Overview

Mission

To promote the economic and general welfare of all of the citizens of the city of carlsbad, new mexico, through the active solicitation and movement of new business and industry to carlsbad and vicinity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,037,951$1,032,863▼ $5,088
Land, Buildings, and Equipment, Net$674,556$576,652▼ $97,904
Accounts Receivable$60,436$59,722▼ $714
Prepaid Expenses and Deferred Charges$32,475$24,239▼ $8,236
Other Notes and Loans Receivable, Net$13,816--
Total Assets$2,488,539$2,247,590▼ $240,949
Other Assets Total$669,305$554,114▼ $115,191
Liabilities
Other Liabilities$44,403$42,010▼ $2,393
Accounts Payable and Accrued Expenses$8,362$9,070▲ $708
Total Liabilities$52,765$51,080▼ $1,685
Net Assets / Fund Balance
Unrestricted Net Assets$2,361,986$2,133,630▼ $228,356
Temporarily Rstr Net Assets$73,788$62,880▼ $10,908
Total Net Assets Fund Balance$2,435,774$2,196,510▼ $239,264
Total Liabilities and Net Assets / Fund Balance$2,488,539$2,247,590▼ $240,949

Asset Categories

AssetBook ValueDepreciationBasis
Land$69,326-$69,326
Other Assets Org$2,771--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleBaseTotal
John WatersExecutive Di$128,942$128,942

Board Members and Trustees

NameTitle
Craig StephensPresident
Amit BhaktaDirector
Bernadette GrangerDirector
Bob ForrestDirector
Bob PatilloDirector
Bruce CovertDirector
Cary BairdDirector
Cathy HibbsDirector
Cliff StroudDirector
Clint WilliamsonDirector
Cory YatesDirector
Dale JanwayDirector
David ShoupDirector
Debra HicksDirector
Erika LaneyDirector
Henry WatersDirector
James LackeyDirector
Jay JenkinsDirector
Jim JohnsonDirector
Jody KnoxDirector
Jon GrattonDirector
Mark ChristensenDirector
Mark SchinnererDirector
Ned ElkinsDirector
Pace MarjoDirector
Paul GillDirector
Robert BaldridgeDirector
Scott GoodaleDirector
Susan CrockettDirector
Terry MullinsDirector
Tom KleinDirector
Valerie MurrillDirector
Danny CrossPast Preside
Pual ShoemakerTreasurer
Larry MitchellVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$750,843
Program Service Revenue
$0
Investment Income
$2,616
Other Revenue
$128,205
All Other Contributions
$200,000
Change in Net Assets
$-59,555

Audited Revenue Reconciliation

Revenue per Audited Statements
$881,664
Total Revenue per Audited Statements
$881,664
Total Revenue per Form 990
$881,664
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$503,370
Salaries, Compensation, and Employee Benefits$437,849
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$138,679$202,108-$340,787
Occupancy$23,438$58,305-$81,743
All Other Expenses$31,773$43,440-$75,213
Other Employee Benefits$34,755$35,818-$70,573
Depreciation Depletion$55,185$4,861-$60,046
Fees for Services Accounting-$31,780-$31,780
Other Expenses$28,500$33,796-$28,500
Travel$5,369$21,542-$26,911
Payroll Taxes$11,584$14,905-$26,489
Advertising$16,153$96-$16,249
Insurance-$7,612-$7,612
Information Technology$700$3,955-$4,655
Office Expenses-$859-$859
Total Functional Expenses$432,142$509,077$0$941,219

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,120,928
Expenses per Audited Statements$941,219
Total Expenses per Form 990$941,219
Expenses Not Reported on Form 990$179,709
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses$42,010
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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 11B

“The federal form 990 and annual audit report are presented at an exit conference with the board president and the executive director. The executive director presents the federal form 990 and annual audit report to the board of directors at the next scheduled board meeting.”

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

“YES”

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

“The board of directors annualy approve all compensation and merit base adjustments for all employess.”

Form 990, Page 6, Part VI, Line 19

“No documents are available to the public”

Filing and Contact Details

Filer

Filer Name
Carlsbad Industrial Action Inc
EIN
85-6014972
Phone
5758876562
Address
400-2 CASCADES AVENUE 201, CARLBAD, NM 88220
Doing Business As
Carlsbad Department of Development

Signing Officer

Name
Craig Stephens
Title
President
Phone
5758876562
Signed
2019-11-04

Organization Details

Principal Officer
Craig Stephens
Formed
1972
Legal Domicile
Nm
Voting Board Members
34
Independent Board Members
34
Employees
6

Preparer

Firm
David Fritschy CPA
Address
315 N CANAL ST STE B, CARLSBAD, NM 88220-5831
Preparer
David Fritschy
Phone
5752341612
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“IMPAIRMENT LOSS -179,709”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“IMPAIRMENT LOSS 179,709”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt33PAST PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt34VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt35EXECUTIVE DI
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IRS990/FormationYr01972
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt034
IRS990/GovernmentGrantsAmt0356435
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0881664
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt034
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt03955
IRS990/InformationTechnologyGrp/ProgramServicesAmt0700
IRS990/InformationTechnologyGrp/TotalAmt04655
IRS990/InsuranceGrp/ManagementAndGeneralAmt07612
IRS990/InsuranceGrp/TotalAmt07612
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt02616
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02616
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IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0336871
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0674556
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0576652
IRS990/LandBldgEquipCostOrOtherBssAmt0913523
IRS990/LegalDomicileStateCd0NM
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt0194408
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt010602
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt010602
IRS990/MissionDesc0TO PROMOTE THE ECONOMIC AND GENERAL WELFARE OF ALL OF THE CITIZENS OF THE CITY OF CARLSBAD, NEW MEXICO, THROUGH THE ACTIVE SOLICITATION AND MOVEMENT OF NEW BUSINESS AND INDUSTRY TO CARLSBAD AND VICINITY.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt02196510
IRS990/NoListedPersonsCompensatedInd0X
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IRS990/OccupancyGrp/ManagementAndGeneralAmt058305
IRS990/OccupancyGrp/ProgramServicesAmt023438
IRS990/OccupancyGrp/TotalAmt081743
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0859
IRS990/OfficeExpensesGrp/TotalAmt0859
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
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IRS990/OtherChangesInNetAssetsAmt0-179709
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt034755
IRS990/OtherEmployeeBenefitsGrp/TotalAmt070573
IRS990/OtherExpensesGrp/Desc0MAYORS ECONOMIC DEVELOPM
IRS990/OtherExpensesGrp/Desc1DOUBLE EAGLE
IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3TRANSFER TO CITY
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt050000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt133796
IRS990/OtherExpensesGrp/ProgramServicesAmt086006
IRS990/OtherExpensesGrp/ProgramServicesAmt128500
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IRS990/OtherExpensesGrp/TotalAmt150000
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IRS990/OtherExpensesGrp/TotalAmt328500
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IRS990/OtherRevenueMiscGrp/Desc0MAYOR'S ENERGY SUMMIT
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt150000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt210009
IRS990/OtherRevenueTotalAmt0128205
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0202108
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0138679
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IRS990/PayrollTaxesGrp/ProgramServicesAmt011584
IRS990/PayrollTaxesGrp/TotalAmt026489
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt032475
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt024239
IRS990/PrincipalOfficerNm0CRAIG STEPHENS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0CASCADES RIVERWALK: THE CASCADES AT CARLSBAD IS AN OPEN-AIR MARKET PLACE WITH OVER 650,000 SQUARE FEET AVAILABLE FOR DEVELOPMENT. THE CASCADES WILL OFFER RETAIL, DINING,AND ENTERTAINMENT VENUES AT THE GROUND LEVEL AND OFFICE SPACE ON THE UPPER FLOORS. THERE ARE PLANS TO HAVE UPSCALE HOTELS AND FAMILY ENTERTAINMENT CENTERS WITHIN THE PROJECT CREATING A UNIQUE EXPERIENCE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0126520
IRS990/ProgSrvcAccomActy3Grp/Desc0LOCAL DEVELOPMENT: THE PROGRAM SERVICES GOALS ARE TO PROMOTE LOCAL BUSINESS IN CARLSBAD AND SOUTH EDDY COUNTY. THE PROGRAM ASSISTS THE BUSINESS COMMUNITY IN THE PROMOTION OF COMMERCIAL AND COMMUNITY ENDEAVORS. IN ADDITION, THE LOCAL DEVELOPMENT SERVICES ARE DESIGNED TO ENHANCE THE SUCCESS OF EXISTING BUSINESSES AND ASSIST RESIDENTS WHO ARE THINKING ABOUT OPENING THEIR OWN BUSINESS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt074017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,247,590
Liabilities
$51,080
Net assets
$2,196,510
Revenue
$881,664
Expenses
$941,219
Net income
-$59,555
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$0.26$1.99$0.79$1.00$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.32$0.05$2.26$0.78$0.88$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.69$0.16$2.53$0.90$0.81$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.52$0.09$2.43$0.94$0.75$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.31$0.07$2.24$1.06$1.02$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.25$0.05$2.20$0.88$0.94$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.49$0.05$2.44$0.86$0.79$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$0.21$2.36$0.61$0.79$0.19
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.77$0.21$2.55$0.83$0.65$0.18