Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1964.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
68 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
18 people listed on the 990; $170K paid to officers and key staff (Part VII, Section A).
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2021 |
|---|---|---|---|---|
| Jennifer Grassham | $170,352 | $163,475 | $156,000 | $52,499 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Economic Development Corporation executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promote Lea County's assets to attract capital investment.
Questions for Economic Development Corporation
Your first name shows with your question. Economic Development Corporation answers here, for everyone.
Promoting ecomonic development and diversification for lea county, NM
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-0164863) · Dispute this lineBy the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.9M | $2.2M |
| Land, buildings, equipmentLn 10c | $396K | $340K |
| Total assetsLn 16 | $3.9M | $2.7M |
| LiabilitiesLn 26 | $1.8M | $412K |
| Net assetsLn 32 | $2.1M | $2.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $170K | $136K | $34K | |
| Other salaries and wagesLn 7 | $220K | $161K | $60K | |
| Other employee benefitsLn 9 | $47K | $36K | $11K | |
| Payroll taxesLn 10 | $32K | $25K | $8K | |
| Accounting feesLn 11c | $66K | $50K | $16K | |
| Other fees for servicesLn 11g | $124K | $94K | $30K | |
| Advertising and promotionLn 12 | $666K | $506K | $160K | |
| Office expensesLn 13 | $41K | $17K | $24K | |
| Information technologyLn 14 | $53K | $40K | $13K | |
| OccupancyLn 16 | $6K | $6K | ||
| TravelLn 17 | $13K | $1K | $12K | |
| InterestLn 20 | $21K | $21K | ||
| Depreciation, depletion and amortizationLn 22 | $68K | $68K | ||
| InsuranceLn 23 | $15K | $11K | $3K | |
| Other expenses (24a–d)Ln 24 | $62K | $11K | $50K | |
| All other expensesLn 24e | $5K | $3K | $2K | |
| Total functional expensesLn 25 | $1.6M | $1.1M | $517K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS Nov 11, 2025 | $1.9M | $1.6M | $247K | $2.3M | 990 PDF |
| FY2024Filed with the IRS Dec 6, 2024 | $1.6M | $1.2M | $304K | $2.1M | 990 PDF |
| FY2023Filed with the IRS Nov 27, 2023 | $1.8M | $1.3M | $472K | $1.8M | 990 PDF |
| FY2022 | Not on file | ||||
| FY2021Filed with the IRS Feb 25, 2022 | $1.3M | $891K | $370K | $1.0M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $1,855,842 revenue, 12 lines filed
Part VI · Governance 18 of 18 board members independent, 2 to look at
Part VIII · Statement of revenue $1,855,842 across 7 lines filed
Part IX · Statement of functional expenses $1,608,685 across 16 lines filed
Part X · Balance sheet $2,743,280 assets, 13 lines filed
Part XI · Reconciliation of net assets $2,330,971 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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