Overview
What is New Mexico Community Capital?
New Mexico Community Capital is a dedicated nonprofit organization that strives to improve the economic circumstances of low-income individuals in New Mexico, with a particular focus on underserved areas. They accomplish this mission through various means, including financial aid, equity investments, and the utilization of online marketplaces. Their primary goal is to uplift the socio-economic standing of the community, lessen governmental burdens, and alleviate poverty.
Official website here: www.nmccap.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 85% (Three-Star out of Four Star rating)
New Mexico Community Capital received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored particularly well due to its independent board governance and comprehensive financial oversight. The high program expense ratio of 92.76% indicates that a significant portion of its funding is directed towards its mission, which is a positive sign for potential donors.
The charity's governance practices are commendable, with all board members being independent and various policies in place to ensure transparency and ethical conduct. The organization has also passed checks for material diversion of assets and maintains appropriate financial audit processes. This level of accountability is crucial for fostering donor trust and promoting responsible stewardship of resources.
However, while the rating is favorable, it is essential for potential supporters to continue monitoring the organization's activities and impact. Transparency in operations and ongoing commitment to its mission will be vital for sustaining donor confidence and ensuring long-term effectiveness in community investment.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about New Mexico Community Capital?
There are currently four reviews for New Mexico Community Capital on Facebook, with no ratings yet. One reviewer expressed their enthusiasm for the NEIR Program, highlighting the invaluable tools, guidance, and support provided, which they believe are crucial for the success of a startup.
The sentiment surrounding the nonprofit appears to be positive, with the mentioned participant feeling well-supported in their entrepreneurial journey. Users appreciate the assistance they receive and feel the program is effective in fostering growth and development for new businesses.
Overall, the insights indicate that New Mexico Community Capital is making a positive impact on its members, particularly those involved in the NEIR Program, by equipping them with essential resources for their ventures.
This AI summary has been generated from reviews found on Facebook.
Is New Mexico Community Capital legitimate?
New Mexico Community Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Mexico Community Capital submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $161,815
Professional Fundraising Fees: $0
Other Salaries and Wages: $290,210
For more financial information, click here
Official website here: www.nmccap.org
What is the mission statement of New Mexico Community Capital?
New Mexico Community Capital is committed to enhancing economic prosperity for low-income individuals residing in economically underserved areas. They achieve this goal by offering financial assistance, making equity investments, and establishing online marketplaces. The organization's primary aim is to alleviate poverty and reduce the burden on government by improving the economic circumstances of New Mexico residents.
Official website here: www.nmccap.org
Who is the CEO of New Mexico Community Capital?
Liz Gamboa is the Executive/Fund Managing Director of New Mexico Community Capital.
Official website here: www.nmccap.org
What is the revenue of New Mexico Community Capital?
New Mexico Community Capital's revenue in 2022 was $5,157,855.
Official website here: www.nmccap.org
Who are the executives of New Mexico Community Capital and what are their salaries?
The average compensation at New Mexico Community Capital during 2022 was $75,338. There are 6 employees and 11 volunteers at New Mexico Community Capital.
Here are 14 key members and their salaries:
- Compensation: $12,280
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- Compensation: $105,991
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- Other: $4,938
- Compensation: $33,635
- Related: $0
- Other: $0
Official website here: www.nmccap.org
Where can I find the form 990 for New Mexico Community Capital?
New Mexico Community Capital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmccap.org
Learn more at the official website: www.nmccap.org
Mission Statement of New Mexico Community Capital
New Mexico Community Capital, a nonprofit organization, is committed to enhancing the economic well-being of low-income individuals. They achieve this goal through various means, including financial assistance, equity investments, and the establishment of online marketplaces. The organization's mission is to alleviate poverty and lessen the burden on government by offering aid specifically designed to improve the economic status of New Mexico residents, with a focus on economically underserved areas. By providing these services, New Mexico Community Capital aims to promote social welfare, ultimately contributing to a more prosperous society.
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Impact
August, 2024
New Mexico Community Capital's impact is clear and direct: it promotes economic well-being for low-income individuals in economically underserved areas of New Mexico. By providing financial assistance, equity investments, loans, and other aid, this organization is actively working to alleviate poverty, lessen the burdens of government, and improve the economic outlook for New Mexico residents in need. Their focus on community improvement is evident through their various initiatives that aim to empower individuals and strengthen the local economy.
This information is meant to be a general summary of New Mexico Community Capital. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $60,381
- Program Service Revenue: $293,007
- Gross Receipts: $5,158,668
Assets and Liabilities:
- Total Assets: $13,279,513
- Total Liabilities: $10,247,982
- Net Assets: $3,031,531
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FISCAL SPONSOR FEE
Revenue
$179,651
BUSINESS SERVICES
Revenue
$113,356
Organization Details
Founding Year
2004
Phone
(505) 924-2820Principal Officer
Liz Gamboa
Main Address
301 GOLD AVE SW 102, ALBUQUERQUE, NM, 87102
Website
www.nmccap.orgNTEE Category
Code: S32 - Community improvement
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