Is New Mexico Economic Development Corporation Legit?
Quick charity verification for New Mexico Economic Development Corporation (EIN: 200100129)
Verdict: New Mexico Economic Development Corporation appears trustworthy
85/100Mission Score
$1.1MRevenue
$1.0MAssets
2Red Flags
4Strengths
Red Flags
Lack of detailed expense breakdown (program, admin, fundraising) in provided data
Consistent 0% officer compensation, which may obscure actual executive remuneration if reported elsewhere
Strengths
Consistent revenue generation exceeding or closely matching expenses (e.g., $1,207,870 revenue vs. $1,099,233 expenses in 2023)
Steady growth in assets over time (from $273,605 in 2015 to $1,017,213 in 2023)
Low liabilities relative to assets, indicating financial stability
Long history of IRS 990 filings (13 filings), demonstrating transparency in reporting
Spending Breakdown
How New Mexico Economic Development Corporation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about New Mexico Economic Development Corporation
Is New Mexico Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, New Mexico Economic Development Corporation (EIN: 200100129) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is New Mexico Economic Development Corporation a good charity to donate to?
New Mexico Economic Development Corporation has a Mission Score of 85/100. Revenue: $1.1M. Assets: $1.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New Mexico Economic Development Corporation?
The Employer Identification Number (EIN) for New Mexico Economic Development Corporation is 200100129. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does New Mexico Economic Development Corporation spend its money?
New Mexico Economic Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New Mexico Economic Development Corporation's tax-exempt status?
You can verify New Mexico Economic Development Corporation's tax-exempt status using EIN 200100129 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The New Mexico Economic Development Corporation demonstrates consistent financial activity, with revenues generally exceeding or closely matching expenses over the past decade. For instance, in 2023, revenue was $1,207,870 against expenses of $1,099,233, indicating a surplus. The organization's assets have shown steady growth, reaching $1,017,213 in 2023, up from $273,605 in 2015, which suggests sound financial management and accumulation of resources. Liabilities have remained relatively low compared to assets, further indicating financial stability.
However, without detailed breakdowns of expenses into program, administrative, and fundraising categories from the provided data, it's challenging to fully assess spending efficiency. The consistent reporting of 0% officer compensation across all filings is a notable point regarding executive pay, suggesting either a volunteer leadership structure or compensation is categorized differently. The organization's consistent filing of IRS 990s over 13 periods indicates a commitment to transparency in financial reporting.