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Four Corners Economic Development Foundation FY2020 filing

Tax-deductible

Farmington, NM501(c)(3)Community DevelopmentEIN 85-0171302

Promote growth through community functions, industrial development, and education and marketing activities.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $40K a year · 16% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 22.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $198K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$260
0.05% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$214K
Spent
$255K
To programs
100%
Net assets
$526K
By yearFY2020–FY2025
Revenue
$214K
FY2020
Revenue by fiscal year
FY2020$214K
FY2021$167K
FY2022$216K
FY2023$259K
FY2024$307K
FY2025$330K
Expenses
$255K
FY2020
Expenses by fiscal year
FY2020$255K
FY2021$286K
FY2022$269K
FY2023$257K
FY2024$323K
FY2025$342K
Net assets
$526K
FY2020
Net assets by fiscal year
FY2020$526K
FY2021$407K
FY2022$353K
FY2023$355K
FY2024$340K
FY2025$328K

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CFour Corners Economic Development Foundation
EINHdr · item D85-0171302
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFDec 2015
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CFarmington, NM
NTEE classificationIRS BMFCommunity Development (S30)
WebsiteHdr · item Jwww.4cornersed.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$255K
Total functional expensesLn 25$255K

Financial health

Is it on solid ground?

Program efficiency
100%
of spending reaches programs
Operating runway
22.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-19%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$527K
FY2020
Total assets by fiscal year
FY2020$527K
FY2021$411K
FY2022$367K
FY2023$369K
FY2024$340K
FY2025$328K
Total liabilities
$260
FY2020
Total liabilities by fiscal year
FY2020$260
FY2021$4K
FY2022$14K
FY2023$14K
FY2024$736
FY2025$244
Revenue less expensesPt I · Ln 19−$41K
Total assetsPt X · Ln 16$527K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Balance Sheet

Part X · end of year
CashLn 1$485K
Total assetsLn 16$527K
Total liabilitiesLn 26$260
Total net assetsLn 32$526K
Months of cash on handcomputed22.8

Statement of Revenue

Part VIII
Contributions & grants$211K · 99%
Investment income$3K · 1%
Contributions & grants99%$211K
Investment income1%$3K
Total revenueLn 12$214K

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $485K · Operating expenses/yr $255K
22.8 months
Where the money goes
Program services
Program services $255K · Total expenses $255K
100%
Management & General
Management & general $0 · Total expenses $255K
0%
Fundraising
Fundraising $0 · Total expenses $255K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $211K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $211K · Total revenue $214K
99%
Government reliance
Government grants — · Total revenue $214K
—
Earned-income share
Program service revenue $0 · Total revenue $214K
0%
Investment reliance
Investment income $3K · Total revenue $214K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $255K
0%
Growth & trend
Revenue growth (YoY)
This year $214K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $526K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $214K · Expenses $255K
-19%
Liabilities-to-Assets
Total liabilities — · Total assets $527K
—
Net-asset ratio
Net assets $526K · Total assets $527K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $527K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Victor Snover · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $255K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $255K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Fundraising cost ratio 0%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Victor Snover
President
$0Pt VII · Sec A
Jim Crowley
Vice President
$0Pt VII · Sec A
Dr Toni Pendergrass
Secretary/Treasurer
$0Pt VII · Sec A
Ken Hare
City of Bloomfield Rep
$0Pt VII · Sec A
Nate Duckett
City of Farmington Rep
$0Pt VII · Sec A
Tom Wethington
City of Kirtland Rep
$0Pt VII · Sec A
Roselyn Fry
Alternate Navajo Nation
$0Pt VII · Sec A
Dr Lorenzo Reyes
Alternate San Juan College
$0Pt VII · Sec A
See Four Corners Economic Development Foundation executive salaries →

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Governance & Policies

Part VI
  • 10Voting board membersPt VI · Ln 1a
  • 10Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Fosters community growth via events, industry development, and education.

Provided by the organization

This section is blank until Four Corners Economic Development Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $255K of program spending, described in the organization's own filed words · FY2019.
01

Promote growth through community functions, industrial development, and educational and marketing activities.

$255Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Rockefeller Philanthropy Advisors INCFY2024$168K
Merrion Family FoundationFY2024$30K
Total grants receivedfrom 2 funders$198K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $330K$342K+8% 990 PDF
FY2024 $307K$323K+18% 990 PDF
FY2023 $259K$257K+20% 990 PDF
FY2022 $216K$269K+29% 990 PDF
FY2021 $167K$286K-22% 990 PDF
FY2020 Viewing $214K$255K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2020

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $255,303 across 6 lines filed
IX-11a Management feesPrograms $250,000$250,000
IX-11c Accounting feesPrograms $2,847$2,847
IX-13 Office expensesPrograms $82$82
IX-22 Depreciation, depletion and amortizationPrograms $236$236
IX-23 InsurancePrograms $1,761$1,761
IX-24 Other expenses (24a–d)Programs $377$377
IX-25 Total functional expensesPrograms $255,303 · Management $0 · Fundraising $0$255,303

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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