Southeastern New Mexico Economic Development District
Nonprofit profile at a glance
- EIN
- 850214427
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Roswell, NM, USA
- Phone
- 5756246131
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $5,266,019
- Expenses
- $4,563,915
- Assets
- $1,586,987
- Liabilities
- $975,449
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
32 people listed
Executive titles in this filing
- SAM SEELY (PRESIDENT)
- DAVID MIRANDA (VICE PRESIDENT)
Highest reported compensation
- DORA BARISTA (SECRETARY/EXECUTIVE DIRECT): $120,077 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The fundamental mission of the snmedd is to strengthen the regional economic base, which is responsible for providing quality jobs to area residents.
What it reported doing in 2024
The district provides member government units the opportunity to work with representatives of federal and state agencies, major economic interests, and citizen groups to plan for future economic development. The district accomplishes this through information dissemination, area wide and local planning, direct technical assistance, intergovernmental coordination, and training. One of the most important functions of the organization involves the optimal utilization of regional capabilities.projects included are solid waste, water and sewer system improvements, business retention, business assistance, job development and assistance, public buildings and transportation related initiatives.the district also helps member governments with planning of major capital inprovements, procuring federal and state aid for needed capital infrastructure projects and capacity building and technical assistance. The organization serves all 26 local governments in southeastern New Mexico and also provides services to nearly 60 water co-ops, mutual domestic water associations, and water and sanitation districts in the region. Through local governemnts, the organization serves approximately 250,000 clients annually. Every year the organization produces a new comprehensive economic development strategy for southeastern New Mexico.through the economic development program, the organization completed projects for the city of artesia, town of lake arthur, city of ruidoso downs, chaves county, city of roswell, lincoln county, town of tatum, village of corona, village of hope, and the town of hagerman.
Operating model
- Revenue model
- Grant-funded. 91% of the money available for current operations came from government grants.
- Distribution model
- Grant intermediary. The nonprofit sent 72% of its reported program spending out as grants.
The verdict
STRONG - 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: 76
- Transparency & Controls: 94
- Accountability: 82
- Sustainability: 46
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 81%; rating input score 81
- Program expense ratio: 93.5%; rating input score 94
- Fundraising efficiency: Limited
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: 100%; rating input score 100; 43rd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 96.9%; rating input score 97; 26th percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 13.3%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 0.35; rating input score 11; 11th percentile among comparable filings
- Liabilities to assets ratio: 0.61; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings
Growth
- Program expense growth: 19.8% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 14.3% per year; rating input score 100; 80th percentile among comparable filings
- Asset growth: 18.6% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 81% of revenue deployed · 93.5% of spending went to programs
- Governance: 31 of 32 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $4.3M in reported program spending
- Leadership: top reported pay $120K · 32 people listed
- Consistency: 32 of 32 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 30 filed money-flow records
- Related organizations: 27 filed related-organization links
- 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.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 11/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.