2024-02-20T10:39:07-05:00 2023-06-30 850219147 PULAKOS CPAS PC 6753 ACADEMY RD NE ALBUQUERQUE NM 87109 990 2022-07-01 850482958 SMALL BUSINESS INVESTMENT CORPORATION SMAL 5052747789 PO BOX 1211 TIJERAS NM 87059 JOSEPH H BADAL CHAIR 5052747789 2024-02-19 true JOSEPH H BADAL 999009999 false ROBERT A DEPASQUALE CPA P00446108 5053381500 2024-02-19 2022 2023-04-26 12:10:37Z NM SMALL BUSINESS INVEST CORP JOSHUA SMITH PO BOX 1211 TIJERAS NM 87059 8947897 false X WWW.NMSBIC.ORG X 2000 NM TO MAKE DEBT OR EQUITY INVESTMENTS TO SUPPORT NEW OR EXPANDING BUSINESSES IN THE STATE OF NEW MEXICO 7 7 0 0 0 18675234 7985696 105288 962201 0 18780522 8947897 0 0 219113 227694 0 0 204853 196388 423966 424082 18356556 8523815 120253275 123837033 6594080 1958110 113659195 121878923 TO MAKE DEBT OR EQUITY INVESTMENTS TO SUPPORT NEW OR EXPANDING BUSINESSES IN THE STATE OF NEW MEXICO, TO CREATE NEW JOB OPPORTUNITIES, AND TO IMPLEMENT THE NEW MEXICO SMALL BUSINESS INVESTMENT ACT. false false 218275 6196734 THE ORGANIZATION'S LENDING PROGRAM IS ITS PRIMARY PROGRAM. THE LENDING PROGRAM PROVIDES FUNDING, THROUGH LENDING PARTNERS, TO SMALL BUSINESSES IN NEW MEXICO THAT DO NOT HAVE ACCESS TO FUNDING FROM TRADITIONAL BANKS. DURING THE TWELVE MONTHS ENDED JUNE 30, 2023, THE NMSBIC PROVIDED FUNDS FOR 155 SMALL BUSINESS LOANS TOTALING 34.7 MILLION AND SUPPORTING 1,078 JOBS IN NEW MEXICO. THE TOTAL LOANS OUTSTANDING INCREASED FROM 49.3 MILLION TO 72.6 MILLION. 30669 1788962 THE ORGANIZATION ALSO HAS AN EQUITY PROGRAM THAT HISTORICALLY MADE INVESTMENTS IN VENTURE CAPITAL EQUITY FUNDS. NO NEW EQUITY INVESTMENT COMMITMENTS HAVE BEEN MADE IN RECENT YEARS, BUT THERE ARE OUTSTANDING INVESTMENTS FROM PRIOR YEARS. TOTAL EQUITY INVESTMENTS OUTSTANDING WERE 2.3 MILLION AS OF JUNE 30, 2023. 248944 false false false false false false false false false false true true false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false true 4 0 0 false false false false false false false false X 7 7 false false false false false true false true false false false true true true true true true true false true true X DEE BRESCIA 5052954053 5119 HIGH DESERT PLACE NE ALBUQUERQUE NM 87111 JOSEPH H BADAL CHAIR 8.00 0.00 X X 0 0 0 ALAN FOWLER VICE CHAIR 4.00 0.00 X X 0 0 0 STEVEN MORGAN SECRETARY/TR 4.00 0.00 X X 0 0 0 TIM EICHENBERG DIRECTOR TO 3.00 0.00 X 0 0 0 ANNE BECKETT DIRECTOR 3.00 0.00 X 0 0 0 ROBERT VALDIVIEZ DIRECTOR 3.00 0.00 X 0 0 0 JOSHUA SMITH DIRECTOR 3.00 0.00 X 0 0 0 LAURA MONTOYA DIRECTOR BEG 3.00 0.00 X 0 0 0 RUSS CUMMINS (RDC ADVISORS LLC) EXEC DIR/INV 40.00 0.00 X 222614 0 0 222614 1 false true false RUSS CUMMINS RDC ADVISORS LLC 37 CALLE VALLECITOS TIJERAS NM 87059 FINANCIAL ADVIS 222614 1 SEVERANCE TAX PERM FUND 525900 6196734 6196734 EARNINGS ON DEBT & EQUITY INV 525900 1788962 1788962 7985696 962201 962201 8947897 7985696 962201 227694 152555 75139 15691 15691 53223 53223 30669 30669 5795 5795 34 34 5579 5579 546 546 1561 1561 5329 5329 FINANCE NEW MEXICO 36566 36566 PROVISION FOR LOAN LOSSES 29154 29154 BANK SERVICE CHARGES 5038 5038 DUES & SUBSCRIPTIONS 4481 4481 2722 2722 424082 248944 175138 0 108436 13670 58543085 31157110 44853 189760 14506 15764 7439502 61542395 85021227 120253275 123837033 25462 6594080 1932648 6594080 1958110 X 113659195 121878923 113659195 121878923 120253275 123837033 8523815 -304087 X X false true X false false US TREASURY BONDS 7439502 F 7439502 NMCDLF INC 30286380 C CLEARINGHOUSE CDFI 15000000 C VENTANA FUND 13311306 C NM ST INVEST COUNCIL 9547232 F RBC SBA POOL 6361453 C HOMEWISE INC 4247366 C DREAMSPRING 2 3221301 C VERGE FUND I II COMBINED, LP 1586805 C NM MEZZANINE PARTNERS, LP 688800 C NOTES RECEIVABLE-CINNAFILM 519903 C NOTES RECEIVABLE-NUVITA 83950 C DREAMSPRING 3 81663 C WESST CORP 75913 C LIFT FUND INC 9155 C 85021227 DUE TO STATE OF NM SEVERANCE TAX 1725798 DEBT FUNDING PAYABLE (NET) 206850 1932648 8643810 -304087 -304087 8947897 8947897 424082 424082 424082 X X false false false false false false false false false RUSS CUMMINS (RDC ADVISORS LLC) EXEC DIR/INVEST ADV 192614 30000 222614 SCHEDULE J, PART III THE ORGANIZATION DOES NOT PROVIDE ANY HEALTH INSURANCE OR RETIREMENT BENEFITS, NOR DOES IT COVER GROSS RECEIPTS TAX OR THE EMPLOYER PORTION OF FICA AND MEDICARE TAXES FOR THE INDEPENDENT CONTRACTOR. FORM 990, PAGE 1, ITEM C NM SMALL BUSINESS INVEST CORP FORM 990 FORM 990, PART IX, LINE 11C TOTAL OF 53,223 INCLUDES THE FOLLOWING: ACCOUNTING SERVICES: 21,264 AUDIT SERVICES: 28,587 TAX PREPARATION SERVICES: 3,372 FORM 990, PAGE 6, PART VI, LINE 7A THE GOVERNOR OF THE STATE OF NEW MEXICO SHALL APPOINT, WITH THE CONSENT OF THE SENATE OF THE STATE OF NEW MEXICO, SIX PUBLIC DIRECTORS OF THE BOARD WHO SHALL SERVE AT THE PLEASURE OF THE GOVERNOR. THE GOVERNOR'S APPOINTEES TO THE BOARD SHALL BE PUBLIC MEMBERS WHO HAVE GENERAL EXPERTISE IN SMALL BUSINESS MANAGEMENT, BUT THEY SHALL NOT BE EMPLOYED BY OR REPRESENT SMALL BUSINESSES RECEIVING EQUITY INVESTMENTS FROM THE CORPORATION. FORM 990, PAGE 6, PART VI, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE FORM 990 WILL BE PROVIDED TO EACH BOARD MEMBER AND APPROVED BY THE BOARD. FORM 990, PAGE 6, PART VI, LINE 12C MEMBERS OF THE BOARD ARE REQUIRED ANNUALLY TO REVIEW THE CONFLICT OF INTEREST POLICY AND CERTIFY AS TO COMPLIANCE. FORM 990, PAGE 6, PART VI, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE NMSBIC'S EXECUTIVE DIRECTOR/INVESTMENT ADVISOR INCLUDES A REVIEW OF COMPARABILITY DATA PERFORMED BY NMSBIC'S LEGAL COUNSEL, WHICH IS REVIEWED AND TAKEN INTO CONSIDERATION BY THE NMSBIC BOARD OF DIRECTORS IN THE DELIBERATION AND DECISION PROCESS FOR APPROVING SUCH COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION ANNUALLY FILES A REPORT TO THE STATED ENTITIES AS REQUIRED BY THE NEW MEXICO STATUTE, TO THE GOVERNOR AND LEGISLATIVE FINANCE COMMITTEE. FORM 990, PART XII LINE 3B- REASON FOR NOT UNDERGOING REQUIRED AUDIT- THE ORGANIZATION DID NOT RECEIVE ANY FEDERAL AWARDS.