Lobo Development Corporation
- Assets
- $30.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 2
- Location
- Albuquerque, NM
- Founding
- 01/2010
- Data as of
- 06/2022
- EIN
- 42-1759020
Organization Overview
Lobo Development Corporation is located in Albuquerque, NM. The organization was established in 2010. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Lobo Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lobo Development Corporation 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 06/2022, Lobo Development Corporation generated $2.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ACTIVITIES OF LOBO DEVELOPMENT CORPORATION INCLUDE THE ACQUISITION, DEVELOPMENT, DISPOSITION AND RENTAL OF REAL ESTATE FOR THE BENEFIT OF THE UNIVERSITY OF NEW MEXICO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES INCLUDE ACQUISITION, DEVELOPMENT, DISPOSITION AND RENTAL OF UNIVERSITY REAL ESTATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Costantinidis Chief Executive Officer | OfficerTrustee | 1 | $0 |
Stephen J Ciepiela Vice Chair | OfficerTrustee | 1 | $0 |
William Payne Chair | OfficerTrustee | 1 | $0 |
Angela Hernandez Corporate Secretary-Treasurer (thru Sept 2021) | OfficerTrustee | 1 | $0 |
Thomas Neale Corporate Vice President (thru Sept 2021) | Officer | 1 | $0 |
Lisa Marbury Chief Business Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Altura Real Estate Llc Development Consulting Services | 6/29/22 | $121,339 |
Sherman & Howard Llc Legal Services | 6/29/22 | $204,735 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $17,463 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,463 |
| Total Program Service Revenue | $2,253,683 |
| Investment income | $352,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,623,304 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $209,583 |
| Pension plan accruals and contributions | $12,575 |
| Other employee benefits | $39,296 |
| Payroll taxes | $18,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,228 |
| Fees for services: Accounting | $37,248 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $181,925 |
| Advertising and promotion | $18,100 |
| Office expenses | $12,560 |
| Information technology | $15,447 |
| Royalties | $0 |
| Occupancy | $379,460 |
| Travel | $970 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $340 |
| Interest | $0 |
| Payments to affiliates | $598,660 |
| Depreciation, depletion, and amortization | $486,364 |
| Insurance | $64,363 |
| All other expenses | $39,726 |
| Total functional expenses | $2,144,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $253,406 |
| Savings and temporary cash investments | $3,279,473 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,898 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $138,750 |
| Net Land, buildings, and equipment | $16,852,499 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,574,143 |
| Total assets | $30,104,169 |
| Accounts payable and accrued expenses | $97,146 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $427,869 |
| Other liabilities | $21,959,938 |
| Total liabilities | $22,484,953 |
| Net assets without donor restrictions | $7,619,216 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,104,169 |
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Texas Association For The Education Of Young Children Austin, TX | $635,523 | $2,896,226 |
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Pencil Box Inc Tulsa, OK | $4,507,396 | $4,826,837 |
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