New Space New Mexico
Nonprofit profile at a glance
- EIN
- 841966957
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-N 2019
- Location
- Albuquerque, NM, USA
- Phone
- 5052355141
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Environmental Quality, Protection, and Beautification N.E.C.
Reported finances
- Revenue
- $2,458,181
- Expenses
- $2,214,895
- Assets
- $1,065,545
- Liabilities
- $470,920
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- CASEY ANGLADA DERAAD (CEO)
Highest reported compensation
- CASEY ANGLADA DERAAD (CEO): $279,244 total reported compensation
- SCOTT R MAETHNER (VP, OPERATIONS & INTEGRATION): $244,122 total reported compensation
- JASON SADLER (SENIOR ADVISOR): $151,950 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Newspace New Mexico is a 501(c)(3) non-profit that is accelerating the pace of space innovation by uniting and igniting the industry. Through unite & ignite space, a first-of-its-kind co-innovation hub, stakeholders gain access to workspaces, equipment, programming, rapid prototyping and demonstration, and resources needed for innovation and rapid progress. Services include access to space ecosystem knowledge, public events, and networking; navigation services that provide tailored guidance and direct assistance to fast-track business growth, and collaborative innovation services that ignite product and solution development.
What it reported doing in 2024
New space New Mexico conducted various studies financed by grants for the purpose of moving the space industry forward and providing opportunities to a greater number of particpants and potential participants.
Operating model
- Revenue model
- Grant-funded. 93% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 78
- Accountability: 72
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 74.6%; rating input score 75
- Program expense ratio: 82.8%; rating input score 83
- Fundraising efficiency: $112.1 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 91.1%; rating input score 91; 26th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 33
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 9.9%; rating input score 62; 62nd percentile among comparable filings
- Total-asset coverage ratio: 0.48; rating input score 17; 17th percentile among comparable filings
- Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
- Officer compensation ratio: 36.2%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 24% per year; rating input score 100; 89th percentile among comparable filings
- Revenue growth: 25.6% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 32% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 74.6% of revenue deployed · 82.8% of spending went to programs
- Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $1.8M in reported program spending
- Leadership: top reported pay $279K · 12 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $148K reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 17/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- High — Sustainability: Liabilities to assets ratio scored 24/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.