2024-12-18T18:27:20-05:00 2024-06-30 850219147 PULAKOS CPAS PC 6753 ACADEMY RD NE ALBUQUERQUE NM 87109 990 2023-07-01 850482958 SMALL BUSINESS INVESTMENT CORPORATION SMAL 5052747789 PO BOX 1211 TIJERAS NM 87059 JOSHUA SMITH CHAIR 5052747789 2024-12-12 true false ROBERT A DEPASQUALE CPA P00446108 5053381500 2024-12-12 2023 2024-10-15 13:58:12Z NM SMALL BUSINESS INVEST CORP JOSHUA SMITH PO BOX 1211 TIJERAS NM 87059 30977738 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 7985696 29820959 962201 1156779 0 8947897 30977738 0 0 227694 241262 0 0 196388 241400 424082 482662 8523815 30495076 123837033 156937680 1958110 4530258 121878923 152407422 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 257609 27087615 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, 2024, THE NMSBIC PROVIDED FUNDS FOR 120 SMALL BUSINESS LOANS TOTALING 34.1 MILLION AND SUPPORTING 588 JOBS IN NEW MEXICO. THE TOTAL LOANS OUTSTANDING INCREASED FROM 72.6 MILLION TO 97.2 MILLION. 35267 2733344 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 2.2 MILLION AS OF JUNE 30, 2024. 292876 false false false false false false false false false false false 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 true 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 DIRECTOR TO 3.00 X 0 0 0 ALAN FOWLER DIRECTOR TO 3.00 X 0 0 0 STEVEN MORGAN DIRECTOR TO 3.00 X 0 0 0 SAYURI YAMADA DIRECTOR 3.00 X 0 0 0 JOSHUA GRASSHAM DIRECTOR 3.00 X 0 0 0 KRISTINA ALLEY DIRECTOR 3.00 X 0 0 0 LAURA MONTOYA DIRECTOR 3.00 X 0 0 0 ROBERT VALDIVIEZ SECRETARY/TR 4.00 X X 0 0 0 ANNE BECKETT VICE CHAIR 4.00 X X 0 0 0 JOSHUA SMITH CHAIR 8.00 X X 0 0 0 RUSS CUMMINS (RDC ADVISORS LLC) EXEC DIR/INV 40.00 X 232536 0 0 232536 1 false true false RUSS CUMMINS RDC ADVISORS LLC 37 CALLE VALLECITOS TIJERAS NM 87059 FINANCIAL ADVIS 232536 1 SEVERANCE TAX PERM FUND 525900 27087615 27087615 EARNINGS ON DEBT & EQUITY INV 525900 2733344 2733344 29820959 1156779 1156779 30977738 29820959 1156779 241262 160841 80421 25656 25656 53504 53504 35267 35267 6650 6650 7909 7909 411 411 1330 1330 5326 5326 PROVISION FOR LOAN LOSSES 69391 69391 FINANCE NEW MEXICO 26572 26572 DUES & SUBSCRIPTIONS 4510 4510 BANK SERVICE CHARGES 2417 2417 2457 805 1652 482662 292876 189786 0 13670 19793 31157110 38865348 189760 349471 15764 13651 7439502 7506250 85021227 110183167 123837033 156937680 25462 27148 1932648 4503110 1958110 4530258 X 121878923 152407422 121878923 152407422 123837033 156937680 30495076 33423 X X false true X false false NMCDLF INC 33008590 C VENTANA FUND 23902034 C CLEARINGHOUSE CDFI 20000000 C NM ST INVEST COUNCIL 10093191 F RBC SBA POOL 9948054 C HOMEWISE INC 6427745 C DREAMSPRING 2 3806492 C VERGE FUND I II COMBINED, LP 1551538 C NM MEZZANINE PARTNERS, LP 688800 C NOTES RECEIVABLE-CINNAFILM 566822 C NOTES RECEIVABLE-NUVITA 88988 C WESST CORP 78391 C DREAMSPRING 3 22522 C 110183167 DUE TO STATE OF NM SEVERANCE TAX 3142669 DEBT FUNDING PAYABLE (NET) 1360441 4503110 31011161 33423 33423 30977738 30977738 482662 482662 482662 X X false false false false false false false false false RUSS CUMMINS (RDC ADVISORS LLC) EXEC DIR/INVEST ADV 201036 31500 232536 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 53,504 INCLUDES THE FOLLOWING: ACCOUNTING SERVICES: 17,245 AUDIT SERVICES: 31,879 TAX PREPARATION SERVICES: 4,380 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 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.