NEW MEXICO ECONOMIC DEVELOPMENT CORP

EIN: 200100129 Community Improvement

ALBUQUERQUE, NM

Total Revenue
$1,260,904
Total Expenses
$1,483,945
Total Assets
$734,706
Net Assets
$553,791
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NM
Principal Officer
MELINDA ALLEN
Phone
5052478500
Tax Period
2024-07-01 to 2025-06-30

NEW MEXICO ECONOMIC DEVELOPMENT CORP, founded in 2003, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 18% operating deficit.

Mission

ORGANIZATION'S PRIMARY MISSION IS TO RECRUIT NEW BUSINESSES TO NEW MEXICO.

Program Service Accomplishments

Program 1

PROMOTE AND BETTER THE COMMON ECONOMIC INTEREST OF THE STATE OF NEW MEXICO AND ITS CITIZENS. PROVIDES SERVICES TO RECRUIT BUSINESS TO NEW MEXICO THAT INCLUDE: SITE SELECTION ASSISTANCE, LABOR MARKET...

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PROMOTE AND BETTER THE COMMON ECONOMIC INTEREST OF THE STATE OF NEW MEXICO AND ITS CITIZENS. PROVIDES SERVICES TO RECRUIT BUSINESS TO NEW MEXICO THAT INCLUDE: SITE SELECTION ASSISTANCE, LABOR MARKET ANALYSIS, CUSTOM RESEARCH, BUILDING INFORMATION, ACCESS TO REGULATORY AUTHORITIES AND COORDINATION OF STATE AND LOCAL ECONOMIC PROFESSIONALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,253,750
Program Service Revenue $0
Investment Income $0
Other Revenue $7,154
TOTAL REVENUE $1,260,904

Expense Breakdown

Grants Paid $0
Salaries & Benefits $545,083
Fundraising Expenses $0
Other Expenses $938,862
TOTAL EXPENSES $1,483,945

Year-over-Year Comparison

2024 2023 Change
Revenue $1,260,904 $1,098,576 +0.1%
Expenses $1,483,945 $1,268,431 +0.2%
Net Income $-223,041 $-169,855 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
12
Employees
7
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$156,605
Total Directors
13
$156,605
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MELINDA ALLEN PRESIDENT & 40.00
Officer Director
$148,462 $8,143 $156,605
PAT VINCENT-COLLAWN BOARD CHAIR 2.00
Officer Director
$0 $0 $0
DEBBIE JOHNSON SECRETARY 1.00
Officer Director
$0 $0 $0
CASSIE ARIAS-WARD TREASURER 10.00
Officer Director
$0 $0 $0
CLEMENTE SANCHEZ REGION 1 0.50
Director
$0 $0 $0
CARI LEMON REGION 5 0.50
Director
$0 $0 $0
DAWN BOULWARE BOARD MEMBER 0.50
Director
$0 $0 $0
JULIA WISE BOARD MEMBER 0.50
Director
$0 $0 $0
PAT VANDERPOOL BOARD MEMBER 0.50
Director
$0 $0 $0
MISSI CURRIER BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN HEATON BOARD MEMBER 0.50
Director
$0 $0 $0
DAVIN LOPEZ BOARD MEMBER 0.50
Director
$0 $0 $0
ROB BLACK BOARD MEMBER 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $1,260,904 $1,483,945 $734,706 $-223,041
2024 $1,098,576 $1,268,431 $1,034,413 $-169,855
2023 $1,207,870 $1,099,233 $1,017,213 $108,637
2022 $1,108,730 $1,180,266 $949,430 $-71,536
2021 $989,699 $998,822 $1,038,292 $-9,123
2020 $1,530,366 $1,341,159 $1,018,437 $189,207
2019 $1,130,224 $1,111,087 $762,562 $19,137
2018 $1,100,435 $995,758 $739,422 $104,677
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