Program areas at NM Small Business Investment Corporation
The organization's lending program is its primary program. The lending program provides funding, through lending partners, to Small businesses in new mexico that do not have access to funding from traditional banks. During the twelve months ended june 30, 2023, the nmsbic provided funds for 155 Small Business loans totaling 34.7 million and supporting 1,078 jobs in new mexico. The total loans outstanding increased from 49.3 million to 72.6 million.
The organization also has an equity program that historically made investments in venture capital equity funds. No new equity Investment commitments have been made in recent years, but there are outstanding investments from prior years. Total equity investments outstanding were 2.3 million as of june 30, 2023.
Personnel at NM Small Business Investment Corporation
| Name | Title | Compensation | Date of data |
|---|
| Russ Cummins | Executive Director and Investment Adv | $147,840 | 2023-06-30 |
| Joseph H Badal | Chair | $0 | 2024-02-20 |
| Steven Morgan | Secretary and Treasurer | $0 | 2023-06-30 |
| Alan Fowler | Vice Chair | $0 | 2023-06-30 |
| Roxanna Meyers-Director | Then Secretary and Treasurer | $0 | 2017-06-30 |
| ...and 1 more key personnel |
Financials for NM Small Business Investment Corporation
| Revenues | FYE 06/2023 | FYE 06/2022 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $7,985,696 | $18,675,234 | -57.2% |
| Investment income and dividends | $962,201 | $105,288 | 813.9% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $8,947,897 | $18,780,522 | -52.4% |
Organizations like NM Small Business Investment Corporation
| Organization | Type | Location | Revenue |
|---|
| Arizona Capital Source | 501(c)(4) | Tucson, AZ | $4,460,265 |
| Florida Business Development Corporation | 501(c)(4) | Tampa, FL | $13,374,087 |
| TMC Financing | 501(c)(4) | Oakland, CA | $21,879,934 |
| Florida First Capital Finance Corporation | 501(c)(4) | Tallahassee, FL | $12,823,592 |
| Greater Texas Capital Corporation | 501(c)(4) | Tyler, TX | $2,777,961 |
| WBD | 501(c)(3) | Madison, WI | $9,133,880 |
| CLIMB Fund | 501(c)(3) | Charleston, SC | $5,137,686 |
| First American Capital Corporation | 501(c)(3) | Hales Corners, WI | $2,568,889 |
| Prosperus Detroit Micro-Lending | 501(c)(3) | Detroit, MI | $3,302,099 |
| Accessity | 501(c)(3) | San Diego, CA | $5,295,637 |
Data update history
May 22, 2024
Updated personnel
Identified 1 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 18, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 16, 2023
Updated personnel
Identified 3 new personnel
October 16, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Business and community development organizations
Issues
Economic developmentBusiness and industry
Characteristics
State / local levelNo full-time employees
General information
- Address
- PO Box 1211
- Tijeras, NM 87059
- Metro area
- Albuquerque, NM
- County
- Bernalillo County, NM
- Website URL
- nmsbic.org/
- Phone
- (505) 274-7789
IRS details
- EIN
- 85-0482958
- Fiscal year end
- June
- Taxreturn type
- Form 990
- Year formed
- 2000
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- S43: Management Services for Small Business, Entrepreneurs
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Independent
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