Enchantment Land Certified Development Company
Enchantment Land Certified Development Company
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About this organization
Mission
To assist in the growth and development of small business concerns in the state of New Mexico.
About
SBA 504 loan program - The objective of the SBA 504 loan program is to achieve community economic development through job creation and retention by providing long-term, low down payment, reasonably priced, fixed assets financing to expand small and medium sized businesses. ELCDC markets SBA loan programs, screens projects for program applicability, packages loan proposals, works with private lenders to secure commitments, coordinates the sale of SBA guaranteed debentures for 504 loans, and services approved 504 loans. ELCDC serviced loans with funded amounts totaling approximately 102,483,000 at September 30, 2019, with maturities ranging from 2019 to 2044. The organization receives .625%, per annum, of principal outstanding as a loan-servicing fee.
Interesting data from their 2020 990 filing
The filing documents outline the non-profit's mission as “To assist in the growth and development of small business concerns in the state of new mexico.”.
When outlining the tasks it performs, they were referred to as: “To assist in the growth and development of small business concerns in the state of new mexico.”.
- The non-profit's reported state of operation is NM as per legal requirements.
- The filing reveals that the address of the non-profit in 2020 is 6500 JEFFERSON NE SUITE 200, ALBUQUERQUE, NM, 87109.
- As of 2020, the non-profit has 10 employees reported on their 990 form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor advised fund.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $122,606.
- The compensation policy for the CEO of the organization is established through a review and endorsement from an independent source.
- The organization elects its board members.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 10 independent voting members.
- The organization was formed in 1988.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule O.
- The organization pays $583,795 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.
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