Technology Ventures Corporation in Albuquerque, New Mexico (NM)

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Technology Ventures Corporation
Employer Identification Number (EIN)521844455
Name of OrganizationTechnology Ventures Corporation
In Care of NameRandy Wilson
Address1155 University Blvd Se, Albuquerque, NM 87106-4320
ActivitiesArea development, redevelopment of renewal
SubsectionCharitable Organization
Ruling Date01/1996
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$500,000 to $999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$853,973
Amount of Income$2,602,426
Form 990 Revenue Amount$3,878,844
National Taxonomy of Exempt Entities (NTEE)Community Improvement, Capacity Building: Rural Development


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Amount of income in 2013: $2,602,426 (it was $3,715,492 in 2012)
Technology Ventures Corporation: 

 $2,602,426
Other organizations performing similar types of work: 

 $106,567

Assets in 2013: $853,973 (it was $1,209,964 in 2012)
This organization: 

 $853,973
Other organizations performing similar types of work: 

 $100,623

Expenses in 2013: $2,819,692
Technology Ventures Corporation: 

 $2,819,692
Other organizations performing similar types of work: 

 $113,670

Income to expenses ratio in 2013: 0.9
Technology Ventures Corporation: 

 0.9
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 82.1%
This organization: 

 82.1%
Other organizations performing similar types of work: 

 13.3%

Financial snapshot ($)

Revenue for 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$2,602,426$16,309$465,098
Contributions, gifts, grants, etc., received$2,137,328
Interest on savings and temporary cash investments$1,284
Dividends and interest from securities$0
Gross rents$15,025
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$448,789
Total expenses and disbursements$2,819,692$15,025$15,025$2,844,848
Compensation of officers, directors, trustees, etc.$308,974
Pension plans, employee benefits$372,416
Legal fees$0
Accounting fees$21,294
Interest$798
Depreciation$0
Occupancy$331,699
Travel, conferences, and meetings$67,282
Printing and publications$74,820
Total operating and administrative expenses$2,775,692$15,025$2,800,848
Contributions, gifts, grants paid$44,000
Excess of revenue over expenses and disbursements$-217,266
Net investment income$1,284
Adjusted net income$450,073
Balance Sheets
2010201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$934,635$934,635$1,172,669$1,172,669$1,209,964$1,209,964$853,973$853,973
Cash - non-interest-bearing$66,302$0$0$0
Investments-U.S. and state government obligations$0$0$0$0
Investments-corporate stock$0$0$0$0
Investments-corporate bonds$0$0$0$0
Investments-mortgage loans$0$0$0$0
Investments-other$0$0$0$0
Other assets$0$0
Total liabilities$579,721$536,275$376,183$237,458
Mortgages and other notes payable$0$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$354,914$636,394$833,781$616,515
Capital Gains and Losses for Tax on Investment Income
2010201120122013
Capital gain net income$0$0$0$0
Net capital loss$0$0$0$0
Excise Tax Based on Investment Income
2010201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNoNo
Tax based on investment income$0$159$26$13
Total credits and payments$0$159$0$0
Any penalty for underpayment of estimated tax$0$0$0$0
Tax due$26$13
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0$0
Statements Regarding Activities
2010201120122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?YesNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?YesYesYesYes
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
2010201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNoNo
Agree to pay money or property to a government official?NoNoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoYesYesYes
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
2010201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$1,196,860$1,380,116$1,449,181$1,115,879
Net value of noncharitable-use assets$1,427,443$1,099,141
Minimum investment return$58,945$67,971$71,372$54,957
Distributable Amount
2010201120122013
Distributable amount$0$0$0$0
Undistributed Income
2010201120122013
Distributable amount for this year$0$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$54,957$1,298$7,973$10,597$74,825
Qualifying distributions made directly for active conduct of exempt activities$2,844,848$3,476,021$3,655,412$2,975,868$12,952,149
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$36,638$47,581$45,314$39,299$168,832
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$1,284$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Virginia Coalfield Coalition IncPO BOX 548, Lebanon, VA 24266-0548VA2000-02$7,880,145
2Technology Ventures Corporation1155 University Blvd Se, Albuquerque, NM 87106-4320NM1996-01$2,602,426
3Rural Development Corp6140 Mays Landing Rd, Vineland, NJ 08361-7651NJ1976-07$2,316,090
4Rural Consumer Services CorporationPO BOX 826, Shallotte, NC 28459-0826NC2000-08$1,660,845
5Kurdistan Regional Government -Liaison Office - Usa1532 16th St Nw, Washington, DC 20036-1402DC2013-08$1,610,542
6Vermont Council On Rural Development IncPO BOX 1384, Montpelier, VT 05601-1384VT1998-03$1,333,733
7Rural Development Foundation111 W Main St, Antlers, OK 74523-2029OK2003-05$1,055,000
8New Mexico Community Capital219 Central Ave Nw # 200, Albuquerque, NM 87102-3346NM2005-11$975,813
9Southwest Tribal Fisheries Commission IncPO BOX 190, Mescalero, NM 88340-0190NM2008-04$452,608
10Gallup Bid IncPO BOX 4019, Gallup, NM 87305-4019NM2014-05$255,410
11Magdalena Area Community Development Corporation, Macdc105 North Main Street Pob 970, Magdalena, NM 87825NM2000-04$154,199
12New Mexico Rural Development Response Council2209 Miguel Chavez Rd Ste C, Santa Fe, NM 87505-7010NM1998-01$125,300
13Timberon Development Council IncPO BOX 111, Timberon, NM 88350-0111NM2003-07$44,542
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16Caprock Village Economic & Community Development Corporation4000 Cr M, Broadview, NM 88112-9541NM2014-04$0
17Four Corners Small Business FoundationPO BOX 4423, Gallup, NM 87305-4423NM2003-05$0
18Greater Springer Area Economic Developemnt CorporationPo Box 144, Springer, NM 87747NM2010-09$0
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Number of organizations performing similar types of work
Alaska10
Alabama4
Arkansas7
Arizona4
California16
Colorado11
Connecticut2
District of Columbia6
Florida10
Georgia11
Hawaii3
Iowa12
Idaho10
Illinois11
Indiana13
Kansas3
Kentucky17
Louisiana7
Massachusetts5
Maryland4
Maine3
Michigan8
Minnesota10
Missouri13
Mississippi7
Montana8
North Carolina21
North Dakota9
Nebraska10
New Hampshire2
New Jersey3
New Mexico14
Nevada3
New York11
Ohio15
Oklahoma4
Oregon10
Pennsylvania10
Rhode Island1
South Carolina8
South Dakota9
Tennessee7
Texas25
Utah2
Virginia20
Vermont3
Washington12
Wisconsin4
West Virginia10
Wyoming4
International1
Total433

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