NEW MEXICO ECONOMIC DEVELOPMENT CORPORATION: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- NEW MEXICO ECONOMIC DEVELOPMENT CORPORATION (EIN 20-0100129)
- Tax period
- 2009-07-01 to 2010-06-30
- Filed
- 2011-05-11
- IRS object ID
- 201141319349303104
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-05-11T17:18:18-05:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ATKINSON & CO LTD | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 25246 | AddressLine1 |
| City | ALBUQUERQUE | City |
| State | NM | State |
| ZIP Code | 87125 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 200100129 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW MEXICO ECONOMIC DEVELOPMENT CORP | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | NEWM | NameControl |
| Phone | 5052478500 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 117 GOLD AVENUE SW | AddressLine1 |
| City | ALBUQUERQUE | City |
| State | NM | State |
| ZIP Code | 871103327 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JONATHAN CLARK | Name |
| Title | CEO | Title |
| Phone | 5052478500 | Phone |
| Date Signed | 2011-05-10 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5058436492 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JONATHAN CLARK | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 117 GOLD AVENUE SW | AddressLine1 |
| City | ALBUQUERQUE | City |
| State | NM | State |
| ZIP Code | 871103327 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1393216 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | www.nmpartnership.com | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2003 | YearFormation |
| State Legal Domicile | NM | StateLegalDomicile |
| Activity Or Mission Description | PROMOTE AND BETTER THE COMMON ECONOMIC INTEREST OF THE STATE OF NEW MEXICO AND ITS CITIZENS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 15 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 14 | NbrIndependentVotingMembers |
| Total Nbr Employees | 7 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1429817 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 1391500 | ContributionsGrantsCurrentYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2143 | InvestmentIncomePriorYear |
| Investment Income Current Year | 1716 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1431960 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1393216 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 649954 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 543637 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 667138 | OtherExpensePriorYear |
| Other Expenses Current Year | 622252 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1317092 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1165889 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 114868 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 227327 | RevenuesLessExpensesCY |
| Total Assets BOY | 269797 | TotalAssetsBOY |
| Total Assets EOY | 493016 | TotalAssetsEOY |
| Total Liabilities BOY | 67488 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 63380 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 202309 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 429636 | NetAssetsOrFundBalancesEOY |
| Mission Description | ORGANIZATION'S PRIMARY MISSION IS TO RECUIT NEW BUSINESSES TO NEW MEXICO. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1107269 | Expense |
| Description | PROVIDES SERVICES TO RECRUIT BUSINESS TO NEW MEXICO THAT INCLUDES; SITE SELECTION ASSISTANCE, LABOR MARKET ANALYSIS, JOB-TRAINING ASSISTANCE, CUSTOM RESEARCH, BUILDING INFORMATION, ACCESS TO REGULATORY AUTHORITIES, EMPLOYEE RECRUITMENT ASSISTANCE, AND COORDINATION OF STATE AND LOCAL ECONOMIC DEVELOPMENT PROFESSIONALS. | Description |
| Total Program Service Expense | 1107269 | TotalProgramServiceExpense |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 2 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 7 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Nbr Voting Governing Body Members | 15 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 14 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 0 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 0 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOREEN AVILA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 5052478500 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 117 GOLD AVE SW | AddressLine1 |
| City | ALBUQUERQUE | City |
| State | NM | State |
| ZIP Code | 871023327 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (19 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| MARK THOMPSON | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| SHARMYN MUNOZ | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| JOSEPH MAESTAS | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| ESTEVAN GONZALES | ||||||
| CHAIRMAN | 2.00 | X | 0 | 0 | 0 | X |
| GARY TONJES | ||||||
| SECRETARY | 2.00 | X | 0 | 0 | 0 | X |
| PATRICIA CHAVEZ | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| CHASE GENTRY | ||||||
| TREASURER | 2.00 | X | 0 | 0 | 0 | X |
| RAYMOND MONDRAGON | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| SEAN ORMAND | ||||||
| VICE CHAIRMAN | 2.00 | X | 0 | 0 | 0 | X |
| CHUCK HAMILTON | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| MR ROBERT J DONNELL | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| CONNIE SEVIER | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| DAVIN LOPEZ | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| JERRY STAGNER | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| MR FRED MONDRAGON | ||||||
| BOARD MEMBER | 2.00 | X | 0 | 0 | 0 | |
| CLARK KRAUSE | ||||||
| PRESIDENT & CEO | 40.00 | X | 145000 | 0 | 6000 | X |
| MR JAY D ROSENBLUM | ||||||
| GENERAL COUNSEL | 2.00 | X | 0 | 0 | 0 | |
| THE HONORABLE TIM JENNINGS | ||||||
| EX-OFFICIO | 0.00 | X | 0 | 0 | 0 | |
| THE HONORABLE BEN LUJAN | ||||||
| EX-OFFICIO | 0.00 | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 145000 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 6000 | TotalOtherCompensation |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Government Grants | 1353700 | GovernmentGrants |
| All Other Contributions | 37800 | AllOtherContributions |
| Total Contributions | 1391500 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1716 | TotalRevenueColumn |
| Exclusion | $1,716 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1393216 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $1,716 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 151000 | Total |
| Program Services | 151000 | ProgramServices |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 297647 | Total |
| Program Services | 270728 | ProgramServices |
| Management And General | 26919 | ManagementAndGeneral |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 63097 | Total |
| Program Services | 59311 | ProgramServices |
| Management And General | 3786 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 31893 | Total |
| Program Services | 29979 | ProgramServices |
| Management And General | 1914 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 198862 | Total |
| Program Services | 186930 | ProgramServices |
| Management And General | 11932 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 58 | Total |
| Management And General | 58 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 25151 | Total |
| Program Services | 23642 | ProgramServices |
| Management And General | 1509 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 40944 | Total |
| Program Services | 38349 | ProgramServices |
| Management And General | 2595 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35463 | Total |
| Program Services | 33335 | ProgramServices |
| Management And General | 2128 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 783 | Total |
| Program Services | 736 | ProgramServices |
| Management And General | 47 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18202 | Total |
| Program Services | 17110 | ProgramServices |
| Management And General | 1092 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5424 | Total |
| Program Services | 5099 | ProgramServices |
| Management And General | 325 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| TRADE SHOWS & PROMOTION | 250436 | 246936 | 3500 |
| TELEPHONE | 30174 | 28364 | 1810 |
| TRAINING | 9614 | 9037 | 577 |
| DUES & SUBSCRIPTIONS | 7141 | 6713 | 428 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1165889 | Total |
| Program Services | 1107269 | ProgramServices |
| Management And General | 58620 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 178477 | BOY |
| EOY | 272458 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15377 | BOY |
| EOY | 153927 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 132389 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 85794 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55232 | BOY |
| EOY | 46595 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20711 | BOY |
| EOY | 20036 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 269797 | BOY |
| EOY | 493016 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 67488 | BOY |
| EOY | 63380 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 67488 | BOY |
| EOY | 63380 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 202309 | BOY |
| EOY | 429636 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 202309 | BOY |
| EOY | 429636 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 269797 | BOY |
| EOY | 493016 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 110745 | OtherCostOrOtherBasis |
| Depreciation | 79459 | Depreciation |
| Book Value | 31286 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 21644 | OtherCostOrOtherBasis |
| Depreciation | 6335 | Depreciation |
| Book Value | 15309 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 46595 | TotalOfBookValueLandBuildings |
| Total Revenue | 1393216 | TotalRevenue |
| Total Expenses | 1165889 | TotalExpenses |
| Excess Or Deficit For Year | 227327 | ExcessOrDeficitForYear |
| Total Adjustments | 0 | TotalAdjustments |
| Excess Or Deficit Per FS | 227327 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 1395515 | TotRevenueEtcAuditedFinclStmt |
| Donated Srvc And Use Of Facilities | 2299 | DonatedSrvcAndUseOfFacilities |
| Revenue Not Rptd F990 | 2299 | RevenueNotRptdF990 |
| Revenue Subtotal | 1393216 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 1393216 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 1168188 | TotExpensesEtcAuditedFinclStmt |
| Donated Services Use Of Facilities | 2299 | DonatedServicesUseOfFacilities |
| Expenses Not Rptd F990 | 2299 | ExpensesNotRptdF990 |
| Expenses Subtotal | 1165889 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1165889 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part X: | Identifier |
| Return Reference | Description of Uncertain Tax Positions Under FIN 48: | ReturnReference |
| Explanation | NMEDC ADOPTED THE PROVISIONS OF FASB ASC 740-10-15 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" ON JULY 1, 2009. UPON ADOPTION, NMEDC RECOGNIZED NO CHANGE TO BEGINNING NET ASSETS. USING THE NEW ACCOUNTING, A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE CHANGE HAD NO MATERIAL EFFECT ON THE NMEDC'S FINANCIAL STATEMENTS. AS OF JUNE 30, 2010 NMEDC HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS NMEDC'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE, WHEN APPLICABLE. NMEDC IS NOT UNDER EXAMINATION FOR ANY OPEN TAX YEARS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLARK KRAUSE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Base Compensation Filing Org | 145000 | BaseCompensationFilingOrg |
| Comp Based On Related Orgs | 0 | CompBasedOnRelatedOrgs |
| Bonus Filing Org | 0 | BonusFilingOrg |
| Bonus Related Orgs | 0 | BonusRelatedOrgs |
| Other Compensation Filing Org | 0 | OtherCompensationFilingOrg |
| Other Compensation Related Orgs | 0 | OtherCompensationRelatedOrgs |
| Deferred Comp Filing Org | 0 | DeferredCompFilingOrg |
| Deferred Comp Related Orgs | 0 | DeferredCompRelatedOrgs |
| Nontaxable Benefits Filing Org | 6000 | NontaxableBenefitsFilingOrg |
| Nontaxable Benefits Related Orgs | 0 | NontaxableBenefitsRelatedOrgs |
| Total Compensation Filing Org | 151000 | TotalCompensationFilingOrg |
| Total Compensation Related Orgs | 0 | TotalCompensationRelatedOrgs |
| Comp Report Prior990 Filing Org | 159455 | CompReportPrior990FilingOrg |
| Comp Report Prior990 Related Orgs | 0 | CompReportPrior990RelatedOrgs |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (5 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| Form 990, Part VI, Section B, line 11 | THE 990 IS PROVIDED TO THE BOARD BEFORE FILING OF RETURN. | |
| Form 990, Part VI, Section B, line 12 | BEFORE BUSINESS DECISIONS ARE MADE THE BOARD OF DIRECTORS DETERMINES WHETHER OR NOT THERE IS A CONFILCT OF INTEREST. | |
| Form 990, Part VI, Section B, line 15 | THE PRESIDENT AND CEO SALARIES ARE DETERMINED BY BOARD OF DIRECTORS. ALL OTHER EMPLOYEES SALARIES ARE DETERMINED BY THE PRESIDENT AND CEO. | |
| Form 990, Part VI, Section C, line 19 | ALL PUBLIC DOCUMENTS ARE AVAILABLE UPON REQUEST. | |
| FORM 990, PART XI, LINE 2(C) | AUDIT OVERSIGHT HAS NOT CHANGED FROM PRIOR YEAR. | AUDIT OVERSIGHT |