Santa Fe Business Incubator

Nonprofit profile at a glance

EIN
850431271
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Santa Fe, NM, USA
Phone
5054241140
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$787,917
Expenses
$1,014,564
Assets
$3,438,723
Liabilities
$203,892

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote a diverse and balanced economy by developing emerging businesses in an effort to provide future income opportunities for santa feans.

What it reported doing in 2024

The organization helps accelerate the growth of early stage startup companies through coaching, advisory councils, one-on-one and group engagement, seminars, workshops, and community building. Resident clients lease space at sfbi and are entitled to 24/7 access to a professional public-facing facility providing flexible offices, labs, manufacturing, meeting and training spaces. Shared resources include high- speed internet, reference library, equipment, supplies, and parking. Affiliate clients who do not occupy a physical space in sfbi's campus have access to all programming with limited use of the facility.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $13.13 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.8%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 3.39; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 14.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 78.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $800K in reported program spending
  • Leadership: top reported pay $146K · 9 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.