Overview
What is Small Business Investment Corporation?
The Small Business Investment Corporation, also known as NM Small Business Invest Corp, is a New Mexico-based nonprofit organization dedicated to making debt or equity investments to support and expand existing businesses within the state. With a mission to create new employment opportunities and implement the New Mexico Small Business Investment Act, this organization plays a pivotal role in the economic growth of New Mexico businesses.
Official website here: www.nmsbic.org
What are the reviews and ratings of this charity?
The Small Business Investment Corporation is currently not rated by Charity Navigator. The absence of a rating indicates that the organization has not been evaluated, rather than a positive or negative reflection. Charity Navigator typically rates organizations based on Accountability & Finance or Impact & Measurement beacons, which require certain IRS registration statuses that this organization does not possess.
The organization lacks publicly available data concerning revenue, expenses, and key person salaries, which limits transparency assessments typically provided by Charity Navigator. As a non-501(c)(3) entity, it operates independently and doesn’t fulfill the standard criteria for ratings based on factors like Leadership & Adaptability, Culture & Community, or Impact & Measurement.
Since GreatNonprofits does not feature any user reviews for the Small Business Investment Corporation, community feedback on its work or impact is not available, leaving a gap in user-contributed insights that often complement financial and accountability evaluations available from standard charity rating platforms.
This AI summary has been generated from information found on Charity Navigator.
Is Small Business Investment Corporation legitimate?
Small Business Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Small Business Investment 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: $241,262
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.nmsbic.org
What is the mission statement of Small Business Investment Corporation?
The Small Business Investment Corporation is dedicated to making debt or equity investments to support new or expanding businesses. This organization's primary goal is to create new job opportunities and implement relevant small business investment acts. The corporation's mission is geared towards fostering growth in businesses, leading to economic development. By making strategic investments, it aims to contribute significantly to the economic landscape.
Official website here: www.nmsbic.org
What is the revenue of Small Business Investment Corporation?
Small Business Investment Corporation's revenue in 2024 was $30,977,738.
Official website here: www.nmsbic.org
Who are the executives of Small Business Investment Corporation and what are their salaries?
Here are 11 key members and their salaries:
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- Compensation: $232,536
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Official website here: www.nmsbic.org
Where can I find the form 990 for Small Business Investment Corporation?
Small Business Investment Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.nmsbic.org
Learn more at the official website: www.nmsbic.org
Mission Statement of Small Business Investment Corporation
The Small Business Investment Corporation, or SBIC, is a mission-driven organization dedicated to making debt or equity investments in new or expanding businesses within the state. By providing financial support, SBIC aims to foster growth in businesses and create new job opportunities. The organization's efforts align with the New Mexico Small Business Investment Act, which it works to implement.
In essence, the Small Business Investment Corporation serves as a catalyst for business development in New Mexico. Through strategic investments, it not only helps businesses get off the ground but also aids in their expansion. The ultimate goal is to boost the economy and generate employment opportunities for local residents.
The SBIC's commitment to investment extends beyond just monetary support. It also plays a vital role in fostering a conducive business environment. By nurturing new and developing businesses, the organization contributes to a thriving economic landscape that benefits the entire community.
In its mission to support businesses, the Small Business Investment Corporation is instrumental in driving economic growth and job creation within the state. By making investments in promising businesses, it empowers entrepreneurs to turn their visions into reality and contribute to the economic well-being of New Mexico.
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Impact
October, 2024
The Small Business Investment Corporation plays a crucial role in fostering economic growth in New Mexico by making debt and equity investments in new and expanding businesses. This support is pivotal for creating new job opportunities, which in turn stimulates the local economy. By implementing the New Mexico Small Business Investment Act, the organization helps entrepreneurs access the capital they need to launch or grow their ventures, ultimately benefiting the community through increased employment and a more diverse economic landscape. Its focus on community improvement underscores the significance of investing in local businesses as a means to enhance the overall quality of life in the region.
This information is meant to be a general summary of Small Business Investment 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 2024.
- Investment Income: $1,156,779
- Program Service Revenue: $29,820,959
- Gross Receipts: $30,977,738
Assets and Liabilities:
- Total Assets: $120,253,275
- Total Liabilities: $6,594,080
- Net Assets: $113,659,195
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SEVERANCE TAX PERM FUND
Revenue
$27,087,615
EARNINGS ON DEBT & EQUITY INV
Revenue
$2,733,344
Organization Details
Founding Year
2000
Principal Officer
Joshua Smith
Website
www.nmsbic.orgNTEE Category
Code: S30 - Community improvement
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