ARIZONA REGIONAL ECONOMIC DEVELOPMENT FOUNDATION

EIN: 860542973 501(c)(3) Community Improvement

Sierra Vista, AZ

Total Revenue
$787,293
Total Expenses
$1,157,307
Total Assets
$5,336,525
Net Assets
$4,652,947
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
AZ
Principal Officer
MIGNONNE HOLLIS
Tax Period
2024-07-01 to 2025-06-30

ARIZONA REGIONAL ECONOMIC DEVELOPMENT FOUNDATION, founded in 1985, is a small nonprofit in the Community Improvement sector that reported $787K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $1.2M exceeded revenue, resulting in a 47% operating deficit.

Mission

Preservation and strengthening of the regional economy through initiatives focused on industry recruitment, expansion and development. The mission is accomplished by providing consulting services, promotion of special events, and leasing of commercial facilities.

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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 $169,837
Program Service Revenue $565,352
Investment Income $44,299
Other Revenue $7,805
TOTAL REVENUE $787,293

Expense Breakdown

Grants Paid $0
Salaries & Benefits $391,422
Fundraising Expenses $72,689
Program Expenses $910,579
Other Expenses $765,885
TOTAL EXPENSES $1,157,307

Year-over-Year Comparison

2024 2023 Change
Revenue $787,293 $907,354 -0.1%
Expenses $1,157,307 $1,260,738 -0.1%
Net Income $-370,014 $-353,384 +0.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
3
Volunteers
7

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
7
$346,186
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIGNONNE HOLLIS EXECUTIVE DIRECTOR 040.00
Officer
$130,320 $4,404 $134,724
STEPHANIE REED BRE DIRECTOR 040.00
Officer
$94,494 $11,970 $106,464
SARAH PACHECO ECONOMIC DEV DIRECTOR 040.00
Officer
$104,998 $0 $104,998
GARY HAYMORE BOARD MEMBER 000.50
Director
$0 $0 $0
DR CRAIG WILSON BOARD MEMBER 000.50
Director
$0 $0 $0
DANIEL MOSIER BOARD MEMBER 000.50
Director
$0 $0 $0
JOHN CHARLEY TREASURER 000.50
Officer Director
$0 $0 $0
NANCY HEISER SECRETARY 000.50
Officer Director
$0 $0 $0
PAUL MELO PRESIDENT 000.50
Officer Director
$0 $0 $0
SHEILA DEVOE HEIDMAN VICE PRESIDENT 000.50
Officer Director
$0 $0 $0
GAYLE BERRY BOARD MEMBER 000.50
Director
$0 $0 $0
RALPH ROBLES BOARD MEMBER 000.50
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 $787,293 $1,157,307 $5,336,525 $-370,014
2024 $907,354 $1,260,738 $5,772,460 $-353,384
2023 $690,328 $1,042,913 $6,314,300 $-352,585
2022 $808,902 $812,265 $6,683,944 $-3,363
2021 $722,991 $652,671 $6,996,205 $70,320
2020 $744,368 $906,829 $6,895,307 $-162,461
2019 $711,292 $816,041 $7,216,603 $-104,749
2018 $646,894 $652,431 $7,462,359 $-5,537
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