Overview
What is Albuquerque Regional Economic Alliance?
Albuquerque Regional Economic Alliance is a 14-strong nonprofit organization situated in Albuquerque, New Mexico. Their primary mission is to bolster the Albuquerque metropolitan area by attracting businesses and industries, as well as supporting the retention and expansion of established economic employers. They achieve this by actively recruiting companies that primarily export their goods and services beyond New Mexico, thereby injecting fresh capital into the state's economy. Moreover, they assist local businesses in expanding their operations by connecting them to valuable resources, thereby positioning them for growth.
Official website here: www.abq.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating
The Albuquerque Regional Economic Alliance has garnered a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. With a score of 96%, the organization demonstrates excellent financial practices and transparency, which are crucial indicators of effective stewardship of donor funds.
The organization excels in several key aspects, such as having a fully independent board and robust audit and oversight mechanisms, scoring full points in these areas. Additionally, its material diversion of assets is noted as none, which indicates a high level of integrity in managing resources. The program expense ratio also stands out at 80.59%, suggesting that a significant portion of its budget is directed towards its mission-driven activities.
While the data is overwhelmingly positive regarding financial accountability, it is important for potential donors and stakeholders to consider the effectiveness of the programs themselves. No specific impact metrics are provided in the summary, which may be a point of interest for those looking to understand the organization's overall effectiveness in achieving its economic development goals.
This AI summary has been generated from information found on Charity Navigator.
Is Albuquerque Regional Economic Alliance legitimate?
Albuquerque Regional Economic Alliance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albuquerque Regional Economic Alliance 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: $340,971
Professional Fundraising Fees: $0
Other Salaries and Wages: $681,625
For more financial information, click here
Official website here: www.abq.org
What is the mission statement of Albuquerque Regional Economic Alliance?
The Albuquerque Regional Economic Alliance is committed to strengthening its area by recruiting businesses and industries, as well as supporting the retention and expansion of economic base employers. This organization actively seeks out companies that primarily export their goods and services beyond their local region, bringing new income into the economy. Additionally, the alliance assists existing local businesses in their expansion plans by connecting them with resources that promote growth. The goal is to enhance the overall economic vitality of the area.
Official website here: www.abq.org
Who is the CEO of Albuquerque Regional Economic Alliance?
Danielle Casey is the CEO of Albuquerque Regional Economic Alliance The CEO's salary of Albuquerque Regional Economic Alliance is $320,353 and their total compensation is $340,971.
Official website here: www.abq.org
What is the revenue of Albuquerque Regional Economic Alliance?
Albuquerque Regional Economic Alliance's revenue in 2023 was $1,955,317.
Official website here: www.abq.org
Who are the executives of Albuquerque Regional Economic Alliance and what are their salaries?
The average compensation at Albuquerque Regional Economic Alliance during 2023 was $73,043. There are 14 employees and 50 volunteers at Albuquerque Regional Economic Alliance.
Here are 44 key members and their salaries (Albuquerque Regional Economic Alliance's CEO's salary is $320,353 and their total compensation is $340,971):
- Compensation: $320,353
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Official website here: www.abq.org
Where can I find the form 990 for Albuquerque Regional Economic Alliance?
Albuquerque Regional Economic Alliance's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.abq.org
Learn more at the official website: www.abq.org
Mission Statement of Albuquerque Regional Economic Alliance
Albuquerque Regional Economic Alliance, abbreviated as AREA, is dedicated to enhancing the Albuquerque metropolitan area. Its mission lies in two primary aspects: recruiting businesses and industries that predominantly export their goods and services beyond New Mexico, thereby injecting fresh capital into the state's economy; and supporting the retention and expansion of existing economic base employers within the region. Through these initiatives, AREA aims to bolster the overall economic growth and strength of the Albuquerque metropolitan area. In addition, AREA provides assistance to local businesses in their expansion plans, connecting them to resources that can help them grow and thrive.
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Impact
July, 2024
The Albuquerque Regional Economic Alliance's impact can be seen in the strengthening of the Albuquerque metropolitan area through the recruitment of business and industry. They focus on attracting companies that export the majority of their goods and services outside of New Mexico, thereby bringing new money into the state's economy. Additionally, they provide support for the retention and expansion of economic base employers, assisting local businesses with their expansion plans and connecting them to resources for growth. Through these efforts, the alliance plays a significant role in driving economic development, creating job opportunities, and improving the overall economic prosperity of the region.
This information is meant to be a general summary of Albuquerque Regional Economic Alliance. 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 2023.
- Investment Income: $93,080
- Program Service Revenue: $144,969
- Gross Receipts: $2,345,774
Assets and Liabilities:
- Total Assets: $3,324,539
- Total Liabilities: $319,850
- Net Assets: $3,004,689
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICES
Revenue
$144,969
Organization Details
Founding Year
1960
Principal Officer
Danielle Casey
Website
www.abq.orgNTEE Category
Code: S30 - Community improvement
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