Los Alamos Economic Development Corporation
- Assets
- $9.4m
- Revenue
- $3.5m
- Investments
- $78.2k
- Employees
- 23
- Location
- Los Alamos, NM
- Founding
- 04/1985
- Data as of
- 06/2021
- EIN
- 85-0309387
Organization Overview
Los Alamos Economic Development Corporation is located in Los Alamos, NM. The organization was established in 1985. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Los Alamos Economic Development Corporation employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Alamos Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Los Alamos Economic Development Corporation generated $3.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $3.2m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LOS ALAMOS COMMERCE & DEVELOPMENT CORPORATION IS CHARGED WITH PROMOTING AND DEVELOPING COMMERCIAL BUSINESS WITHIN THE LOS ALAMOS COUNTY AREA, INCLUDING INCUBATOR RENTAL SPACE TO PROMOTE ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF SMALL BUSINESS CENTERS, CHAMBER OF COMMERCE, MAIN STREET & ARTS & CULTURAL DISTRICT, EDUCATIONAL PROGRAMS AND TOURISM PROMOTIONS.
PROGRAM SERVICE - IN AN EFFORT TO CONTINUE ECONOMIC DEVELOPMENT IN LOS ALAMOS THE ORGANIZATION, UNDER THE FEDERAL COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM, WILL RENT AT AFFORDABLE RATES TO ATTRACT NEW START UP COMPANIES. THE ORGANIZATION ALSO ENTERED INTO A LEASE WITH THE COMMUNITY CENTER PARTNERSHIP TO SUPPORT THIS EFFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Sullivan Executive Director (until 10/1/21) | Officer | 40 | $153,768 |
Dave Jolly Treasurer | OfficerTrustee | 2 | $0 |
Jim Hall Chair | OfficerTrustee | 2 | $0 |
Carol Clark Secretary | OfficerTrustee | 2 | $0 |
Cindy Rooney Past Chair | OfficerTrustee | 2 | $0 |
Bill Wadt Vice Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $126,024 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $126,024 |
| Total Program Service Revenue | $3,256,832 |
| Investment income | $73 |
| 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 | $3,453,545 |
| 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. | $158,215 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $695,985 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,166 |
| Payroll taxes | $62,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,691 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,920 |
| Advertising and promotion | $22,257 |
| Office expenses | $107,810 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $547,057 |
| Travel | $1,472 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $354,359 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $397,707 |
| Insurance | $64,402 |
| All other expenses | $0 |
| Total functional expenses | $3,188,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,270,382 |
| Savings and temporary cash investments | $50,589 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $211,311 |
| 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 | $122,378 |
| Net Land, buildings, and equipment | $7,683,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $78,161 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,400 |
| Total assets | $9,422,878 |
| Accounts payable and accrued expenses | $193,144 |
| Grants payable | $0 |
| Deferred revenue | $507,981 |
| 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 | $6,586,415 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100,000 |
| Total liabilities | $7,387,540 |
| Net assets without donor restrictions | $2,035,338 |
| 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 | $9,422,878 |
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|---|---|---|
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Promotional Products Association International Irving, TX | $24,269,680 | $12,861,271 |
Greater Oklahoma City Chamber Of Commerce Oklahoma City, OK | $12,639,674 | $12,068,118 |
Chamber Of Commerce Metropolitan Tulsa Tulsa, OK | $9,253,345 | $10,228,951 |
Fort Worth Convention And Visitors Bureau Fort Worth, TX | $6,320,777 | $12,812,000 |
Metropolitan Tucson Convention And Visitors Bureau Tucson, AZ | $11,117,181 | $12,905,654 |
Park City Area Chamber Of Commerce Convention & Visitors Buerau Park City, UT | $9,039,229 | $12,386,201 |
Denver Metro Chamber Of Commerce Denver, CO | $24,074,791 | $9,796,835 |
Austin Convention And Visitors Bureau Inc Austin, TX | $8,364,471 | $6,830,186 |
Arizona Association Of Realtors Phoenix, AZ | $41,549,602 | $11,298,614 |
Texas Municipal League Austin, TX | $8,928,481 | $7,134,656 |