Nonprofit · EIN 85-0377424
NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND
Tax-exempt · ALBUQUERQUE, NM 87102
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,406,073 | $3,167,379 | -$761,306 | $42,466,162 | $41,941,681 | $524,481 |
| December 31, 2023 | 990 | $2,638,234 | $2,832,627 | -$194,393 | $42,531,939 | $41,292,730 | $1,239,209 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $246,225
- of which government grants
- $172,208
- Program service revenue
- $2,021,356
- Investment income
- $136,492
- Other revenue
- $2,000
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $481,994
- Other salaries and wages
- $464,465
- Salaries, compensation and benefits (total)
- $1,137,753
- Professional fundraising fees
- $0
- Legal fees
- $1,614
- Accounting fees
- $66,372
- Travel
- $3,008
- Depreciation
- $20,825
- Program services (functional)
- $2,595,278
- Management and general (functional)
- $315,016
- Fundraising (functional)
- $257,085
Balance sheet and other
- Total assets, start of year
- $42,531,939
- Total assets, end of year
- $42,466,162
- Total liabilities, end of year
- $41,941,681
- Net assets, end of year
- $524,481
- Land, buildings and equipment
- $362,096
- Net assets without donor restrictions
- $397,516
- Net assets with donor restrictions
- $126,965
- Gross receipts
- $2,406,073
- Employees
- 10
- Volunteers
- 14
- Year formed
- 1989
- State of legal domicile
- NM
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| F LEROY PACHECO | PRESIDENT/CEO Officer | 40 | $268,992 | $41,903 |
| CONCHIE SEARLE | CFO Officer | 40 | $150,672 | $20,427 |
| GEORGE KENEFIC | DIRECTOR OF ENTERPRISE Highest-paid employee | 40 | $122,833 | $24,003 |
| HERB CROSBY | CHAIR (THRU 1/24) Trustee or director, Officer | 1 | $0 | $0 |
| ERIC HALL | CHAIR (AS OF 1/24) Trustee or director, Officer | 1 | $0 | $0 |
| MANNY ORTIZ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| MIKE DEVENZEIO | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| IDA FIERRO | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| DAVID ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHELLY BRANSCOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUSTIN HORWITZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAR JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| IZAAC JUDA ZUBIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUZANNE V MIRABAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BETH PETRUNO | DIRECTOR Trustee or director | 1 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRIS SAMBORSKI | DIRECTOR Trustee or director | 1 | $0 |
| JOHN VRABEC | DIRECTOR Trustee or director | 1 | $0 |
| DAN WILKINSON SR | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| F LEROY PACHECO | PRESIDENT/CEO Officer | 40 | $247,729 | $38,277 |
| CONCHIE SEARLE | CFO Officer | 40 | $142,673 | $20,668 |
| GEORGE KENEFIC | DIRECTOR OF ENTERPRISE Highest-paid employee | 40 | $114,660 | $21,759 |
| HERB CROSBY PHD | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ERIC HALL | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| IDA FIERRO | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MANNY ORTIZ | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DAVID ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JUSTIN HORWITZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAR JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DONNA L LOPEZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUZANNE V MIRABAL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BETH PETRUNO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS SAMBORSKI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHELLY BRANSCOM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE DEVENZEIO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| IZAAC JUDA ZUBIA | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 423 IRON AVE SW, ALBUQUERQUE, NM 87102-3821
- Principal officer (990 for 2024)
- CONCHIE SEARLE, PO BOX 705, ALBUQUERQUE, NM 87103
- Signed the 990
- CONCHIE SEARLE, CFO & ACTING CEO
- Phone
- (505) 243-3196
- Website
- WWW.LOANFUND.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
SEE SCHEDULE OTHE LOAN FUND WAS FORMED TO ENCOURAGE AND FACILITATE THE INVESTMENT OF CAPITAL IN LOW-INCOME NEW MEXICO COMMUNITIES THROUGH INDIVIDUALS, RELIGIOUS AND COMMUNITY ORGANIZATIONS, FOUNDATIONS, GOVERNMENT ENTITIES, LENDING INSTITUTION AND OTHERS. THE LOAN FUND PLACES PARTICULAR EMPHASIS ON ASSISTING LOWINCOME, MINORITY AND WOMAN-OWNED BUSINESSES AND THOSE WHO MEET OTHER SPECIAL REQUIREMENTS AND ARE UNABLE TO ACCESS AFFORDABLE LOANS FROM TRADITIONAL SOURCES SUCH AS BANKS.
Program accomplishments
- THE LOAN PROGRAM ENCOURAGES AND FACILITATES THE INVESTMENT OF CAPITAL IN LOW-INCOME NEW MEXICO COMMUNITIES THROUGH INDIVIDUALS, RELIGIOUS AND COMMUNITY ORGANIZATIONS, FOUNDATIONS, GOVERNMENT ENTITIES, LENDING INSTITUTION AND OTHERS. IN 2024, THERE WERE 80 NEW LOANS MADE IN THE AMOUNT OF $8,513,643. THE LOANS WERE MADE TO 54 MINORITY-OWNED BUSINESSES INCLUDING 24 WOMAN-OWNED BUSINESSES, AND 2 NON-PROFIT ORGANIZATIONS.Expenses $2,595,278 · revenue $2,021,356
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0377424
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $42,466,162
- Income (IRS master file)
- $2,406,073
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,406,073 | $3,167,379 | $42,466,162 | XML |
| 990 | December 2023 | $2,638,234 | $2,832,627 | $42,531,939 | XML |
| 990 | December 2022 | $2,394,022 | $2,224,981 | $38,252,004 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0377424).
Questions about NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND
- What is the EIN of NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND?
- The employer identification number (EIN) of NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND is 85-0377424.
- Is NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
- Are donations to NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND?
- The 990 for the year ended December 31, 2024 names CONCHIE SEARLE.
- Who are the officers and directors of NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND?
- The 990 for the year ended December 31, 2024 lists 18 people; 3 received compensation from the organization, the highest $268,992 (F LEROY PACHECO, PRESIDENT/CEO).
- How much revenue does NEW MEXICO COMMUNITY DEVELOPMENT LOAN FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,406,073, expenses of $3,167,379 and total assets of $42,466,162 at year end.
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