Questa Economic Development Fund
- Assets
- $3.6m
- Revenue
- $80.6k
- Investments
- $3.4m
- Employees
- 0
- Location
- Questa, NM
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 26-3726962
Organization Overview
Questa Economic Development Fund is located in Questa, NM. The organization was established in 2011. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Questa Economic Development Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Questa Economic Development Fund generated $80.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (20.9%) each year. All expenses for the organization totaled $46.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (24.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Malaquias Rael Jr Chairman | 3 | $0 | |
Mark Gallegos Secretary/treasurer | 3 | $0 | |
Brent Jaramillo Trustee | 1 | $0 | |
Louis Herrera Trustee | 1 | $0 | |
Marcus Rael Jr Trustee | 2 | $0 | |
Christian Isely Non-Voting Member | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,685 |
| Interest on Savings | $6 |
| Dividends & Interest | $64,877 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $80,568 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $97 |
| Depreciation | $826 |
| Occupancy | $847 |
| Travel, conferences, and meetings | $417 |
| Printing and publications | $0 |
| Other expenses | $29,154 |
| Total operating and administrative expenses | $46,328 |
| Contributions, gifts, grants paid | $276 |
| Total expenses and disbursements | $46,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,236 |
| Savings and temporary cash investments | $6,900 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,446,006 |
| Net Land, buildings, and equipment | $103,972 |
| Other assets | $215 |
| Total assets | $3,576,329 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Questa Economic Development Fund has awarded $187,178 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
VILLAGE OF QUESTA PURPOSE: ECONOMIC DEVELOPMENT | $151,618 |
TROUT UNLIMITED PURPOSE: RIVER RESTORATION | $10,000 |
NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND PURPOSE: COMMUNITY DEVELOPMENT LOAN INCENTIVE PROGRAM CONTRIBUTION | $25,000 |
THE QUIVIRA COALITION PURPOSE: OPERATING FUNDS GRANT | $560 |