Overview
What is Regional Development Corporation?
The Regional Development Corporation (RDC) is a nonprofit organization based in Santa Fe, New Mexico, with a mission to boost economic growth and diversification in the northern New Mexico region. This includes providing free one-on-one technical assistance services to business owners and offering funding opportunities to help diversify local economies beyond Los Alamos National Laboratory. RDC's initiatives also include the Workforce and Academic Network Pilot Project, which convenes industry and academic stakeholders to facilitate easier access to training and education for construction industry jobs in Northern New Mexico. Additionally, the organization collaborates with higher education institutions through the Higher Education Workforce Project to identify training needs and develop a well-educated workforce in the region. These initiatives are largely funded by Triad National Security, LLC, the company managing Los Alamos National Laboratory. By providing investment opportunities and technical assistance, RDC aims to stimulate job growth and foster economic development in the seven counties of Los Alamos, Mora, Rio Arriba, Sandoval, San Miguel, Santa Fe, Taos, and the municipalities and Native American Pueblos therein.
Official website here: www.rdcnm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Regional Development Corporation has achieved a high score of 96%, reflecting strong performance in accountability and finance, which is the sole basis for its rating. This level of oversight indicates a commitment to transparency and responsible financial management, essential qualities for nonprofits that aim to maximize their impact.
The organization boasts 100% independent board members, with a total of ten members, ensuring unbiased governance. Additionally, it excels in areas such as having a robust audit and oversight committee, as well as comprehensive policies for conflicts of interest and whistleblower protections, all of which contribute to its high accountability standards.
One notable strength is its impressive program expense ratio of 91.57%, suggesting that a significant portion of its resources is directed towards its mission-driven activities. There are no reported material diversions of assets, and the organization maintains a healthy liabilities to assets ratio of 11.44%. These factors collectively highlight the Regional Development Corporation's effective management and dedication to its objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Regional Development Corporation legitimate?
Regional Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Regional Development Corporation 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: $134,550
Professional Fundraising Fees: $0
Other Salaries and Wages: $190,727
For more financial information, click here
Official website here: www.rdcnm.org
What is the mission statement of Regional Development Corporation?
The Regional Development Corporation (RDC) is a private, non-profit organization, functioning under section 501(c)(3), committed to enhancing economic development in Northern New Mexico. Its mission is to facilitate job growth and economic diversification by offering private investment opportunities and providing technical assistance to various communities in seven counties: Los Alamos, Mora, Rio Arriba, Sandoval, San Miguel, Santa Fe, and Taos, as well as the municipalities and Native American Pueblos within these areas. The RDC aims to stimulate local economies, fostering sustainable development and improved livelihoods for the residents of these regions.
Official website here: www.rdcnm.org
Who is the CEO of Regional Development Corporation?
Valentine Alonzo is the Exec. Direct of Regional Development Corporation.
Official website here: www.rdcnm.org
What is the revenue of Regional Development Corporation?
Regional Development Corporation's revenue in 2022 was $1,038,194.
Official website here: www.rdcnm.org
Who are the executives of Regional Development Corporation and what are their salaries?
The average compensation at Regional Development Corporation during 2022 was $46,468. There are 7 employees at Regional Development Corporation.
Here are 11 key members and their salaries:
- Compensation: $117,000
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- Other: $17,550
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Official website here: www.rdcnm.org
Where can I find the form 990 for Regional Development Corporation?
Regional Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rdcnm.org
Learn more at the official website: www.rdcnm.org
Mission Statement of Regional Development Corporation
The Regional Development Corporation, a private non-profit organization based in the United States, is dedicated to enhancing economic development in northern New Mexico. This mission-driven entity provides private investment opportunities and offers technical assistance to stimulate job growth and foster economic diversity in seven counties: Los Alamos, Mora, Rio Arriba, Sandoval, San Miguel, Santa Fe, and Taos, as well as the municipalities and Native American Pueblos within these regions. By facilitating investment and offering technical support, the Regional Development Corporation aims to strengthen the economic foundations of these communities, thereby improving their overall well-being and prosperity.
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Impact
July, 2024
The Regional Development Corporation's impact can be seen in its dedication to improving economic development in Northern New Mexico. Through initiatives like business retention and expansion, workforce development, and academic partnerships, the RDC aims to facilitate job growth and diversify local economies in seven counties. By providing technical assistance, funding opportunities, and industry-academic collaborations, the RDC helps create new job opportunities, reduce the impact of reductions at Los Alamos National Laboratory, and stimulate economic diversification in the region. Its efforts support community improvement and the development of a well-educated workforce, ultimately contributing to the overall economic growth and sustainability of Northern New Mexico.
This information is meant to be a general summary of Regional Development Corporation. 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: $438
- Gross Receipts: $1,038,194
Assets and Liabilities:
- Total Assets: $1,502,973
- Total Liabilities: $112,748
- Net Assets: $1,390,225
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Organization Details
Founding Year
1996
Phone
(505) 820-1226Principal Officer
Valentine Alonzo
Main Address
441 GREG AVE BOX 2, SANTA FE, NM, 87501
Website
www.rdcnm.orgNTEE Category
Code: S80 - Community improvement
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