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Nonprofit · EIN 85-0482958

SMALL BUSINESS INVESTMENT CORPORATION

Tax-exempt · TIJERAS, NM 87059

Financials

$8.9M$424K2022$31M$483K2023$28.8M$472K2024
Revenue Expenses · by fiscal year end
Financials of SMALL BUSINESS INVESTMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$28,785,359$472,124$28,313,235$190,068,247$9,117,064$180,951,183
June 30, 2024990$30,977,738$482,662$30,495,076$156,937,680$4,530,258$152,407,422
June 30, 2023990$8,947,897$424,082$8,523,815$123,837,033$1,958,110$121,878,923
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$26,685,175
Investment income
$2,100,184
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$262,373
Salaries, compensation and benefits (total)
$262,373
Professional fundraising fees
$0
Legal fees
$22,405
Accounting fees
$52,322
Occupancy
$11,825
Program services (functional)
$231,525
Management and general (functional)
$240,599

Balance sheet and other

Total assets, start of year
$156,937,680
Total assets, end of year
$190,068,247
Total liabilities, end of year
$9,117,064
Net assets, end of year
$180,951,183
Gross receipts
$28,785,359
Employees
0
Year formed
2000
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 June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
RUSS CUMMINS (RDC ADVISORS LLC)EXEC DIR/INV
Officer
40$246,348
SAYURI YAMADADIRECTOR
Trustee or director
3$0
JOSHUA GRASSHAMDIRECTOR
Trustee or director
3$0
KRISTINA ALLEYDIRECTOR
Trustee or director
3$0
LAURA MONTOYADIRECTOR
Trustee or director
3$0
ROBERT VALDIVIEZSECRETARY/TR
Trustee or director, Officer
4$0
ANNE BECKETTVICE CHAIR
Trustee or director, Officer
4$0
JOSHUA SMITHCHAIR
Trustee or director, Officer
8$0
990 for the year ended June 30, 2024: 11 people
NameTitleHours / weekCompensation
RUSS CUMMINS (RDC ADVISORS LLC)EXEC DIR/INV
Officer
40$232,536
JOSEPH H BADALDIRECTOR TO
Trustee or director
3$0
ALAN FOWLERDIRECTOR TO
Trustee or director
3$0
STEVEN MORGANDIRECTOR TO
Trustee or director
3$0
SAYURI YAMADADIRECTOR
Trustee or director
3$0
JOSHUA GRASSHAMDIRECTOR
Trustee or director
3$0
KRISTINA ALLEYDIRECTOR
Trustee or director
3$0
LAURA MONTOYADIRECTOR
Trustee or director
3$0
ROBERT VALDIVIEZSECRETARY/TR
Trustee or director, Officer
4$0
ANNE BECKETTVICE CHAIR
Trustee or director, Officer
4$0
JOSHUA SMITHCHAIR
Trustee or director, Officer
8$0
990 for the year ended June 30, 2023: 9 people
NameTitleHours / weekCompensation
RUSS CUMMINS (RDC ADVISORS LLC)EXEC DIR/INV
Officer
40$222,614
JOSEPH H BADALCHAIR
Trustee or director, Officer
8$0
ALAN FOWLERVICE CHAIR
Trustee or director, Officer
4$0
STEVEN MORGANSECRETARY/TR
Trustee or director, Officer
4$0
TIM EICHENBERGDIRECTOR TO
Trustee or director
3$0
ANNE BECKETTDIRECTOR
Trustee or director
3$0
ROBERT VALDIVIEZDIRECTOR
Trustee or director
3$0
JOSHUA SMITHDIRECTOR
Trustee or director
3$0
LAURA MONTOYADIRECTOR BEG
Trustee or director
3$0

Address and contacts

Address (IRS master file)
PO BOX 1211, TIJERAS, NM 87059-1211
Principal officer (990 for 2024)
JOSHUA SMITH, PO BOX 1211, TIJERAS, NM 87059
Signed the 990
JOSHUA SMITH, CHAIR
Phone
(505) 274-7789
Return prepared by
PULAKOS CPAS PC

Mission

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.

990 for the year ended June 30, 2025

Program accomplishments

  • 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, 2025, THE NMSBIC PROVIDED FUNDS FOR 117 SMALL BUSINESS LOANS TOTALING 23.7 MILLION AND SUPPORTING 634 JOBS IN NEW MEXICO. THE TOTAL LOANS OUTSTANDING INCREASED FROM 97.2 MILLION TO 108.7 MILLION.
    Expenses $216,883 · revenue $26,628,949
  • 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 1.6 MILLION AS OF JUNE 30, 2025.
    Expenses $14,642 · revenue $56,226

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 June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
85-0482958
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
2002
Accounting year ends
June
Files
Form 990 or 990-EZ
Assets (IRS master file)
$190,068,247
Income (IRS master file)
$28,785,359

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$28,785,359$472,124$190,068,247XML
990June 2024$30,977,738$482,662$156,937,680XML
990June 2023$8,947,897$424,082$123,837,033XML
990June 2022$18,780,522$423,966$120,253,275IRS
990June 2021–––IRS
990June 2019–––IRS
990June 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 85-0482958).

Questions about SMALL BUSINESS INVESTMENT CORPORATION

What is the EIN of SMALL BUSINESS INVESTMENT CORPORATION?
The employer identification number (EIN) of SMALL BUSINESS INVESTMENT CORPORATION is 85-0482958.
Is SMALL BUSINESS INVESTMENT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2002.
Are donations to SMALL BUSINESS INVESTMENT CORPORATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does SMALL BUSINESS INVESTMENT CORPORATION 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 SMALL BUSINESS INVESTMENT CORPORATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SMALL BUSINESS INVESTMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of SMALL BUSINESS INVESTMENT CORPORATION?
The 990 for the year ended June 30, 2025 names JOSHUA SMITH.
Who are the officers and directors of SMALL BUSINESS INVESTMENT CORPORATION?
The 990 for the year ended June 30, 2025 lists 8 people; 1 received compensation from the organization, the highest $246,348 (RUSS CUMMINS (RDC ADVISORS LLC), EXEC DIR/INV).
How much revenue does SMALL BUSINESS INVESTMENT CORPORATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $28,785,359, expenses of $472,124 and total assets of $190,068,247 at year end.

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