2024-11-12T18:02:20-05:00 2024-06-30 205855985 WATERS & COMPANY LLC 3311 CANDELARIA NE SUITE J ALBUQUERQUE NM 871071952 990 2023-07-01 454733224 GREATER GALLUP ECONOMIC DEVELOPMENT CORPORATION GREA 5057222980 PO BOX 1795 GALLUP NM 87305 TOMMY HAWS PRESIDENT 5057222980 2024-10-02 true true OLLIE D WATERS P00072561 5052600616 2024-11-08 2023 2024-10-15 13:58:12Z TOMMY HAWS PO BOX 1795 GALLUP NM 87305 571230 false X WWW.GALLUPEDC.COM X NM IT IS THE MISSION OF THE GGEDC TO DRIVE ECONOMIC GROWTH IN THE GALLUP- MCKINLEY COUNTY AREA THROUGH BUILDING ON LOCAL ASSETS AND STRATEGIC PARTNERING TO ATTRACT, RECRUIT AND RETAIN BUSINESS AND INDUSTRIAL EMPLOYERS THAT PROVIDE ECONOMIC-BASE JOBS AND TO SUPPORT AD PROMOTE A BUSINESS- FRIENDLY ENVIRONMENT. 7 7 6 0 543918 555872 0 11079 14999 1148 359 556145 571230 0 0 332316 334606 0 20623 292684 315580 625000 650186 -68855 -78956 1885337 1935486 20594 57655 1864743 1877831 X IT IS THE MISSION OF THE GGEDC TO DRIVE ECONOMIC GROWTH IN THE GALLUP- MCKINLEY COUNTY AREA THROUGH BUILDING ON LOCAL ASSETS AND STRATEGIC PARTNERING TO ATTRACT, RECRUIT AND RETAIN BUSINESS AND INDUSTRIAL EMPLOYERS THAT PROVIDE ECONOMIC-BASE JOBS AND TO SUPPORT AD PROMOTE A BUSINESS- FRIENDLY ENVIRONMENT. false false 498344 (1)BUSINESS ATTRACTION & RECRUITMENT (BAR): UNDER THE GGEDCS CORE BUSINESS ATTRACTION AND RECRUITMENT (BAR) PROGRAM, THE GGEDC SECURED AND BEGAN EXECUTION OF A CONTRACT FROM MCKINLEY COUNTY (RENEWED FOR ANOTHER YEAR AT JULY 1, 2024) TO OVERSEE AND COORDINATE THE WORK OF CONSULTANT TEAMS ON THREE INTER-RELATED DEVELOPMENT PROJECTS,ENGAGED BY THE COUNTY TO PLAN AND DESIGN: (A) AN AUTONOMOUS VEHICLES TEST TRACK COMPLEX; (B) A HYDROGEN FUEL HUB; AND (C) A MULTI-FUNCTIONAL INLAND PORT FACILITY. GGEDC STAFF AND LOCAL CONSULTANTS ASSISTED THE COUNTY IN THE RFP/CONSULTANT PROCUREMENT PROCESS AND THEN COORDINATED COMMUNICATIONS AND TRACKED PROGRESS ON EACH OF THE INITIATIVES. THESE EFFORTS WERE FUNDED BY THREE PLANNING AND DESIGN GRANTS FROM THE NEW MEXICO DEPARTMENT OF TRANSPORTATION (NMDOT). THE GGEDC ALSO BEGAN WORK UNDER ITS CONTRACT WITH THE CITY OF GALLUP (ALSO PURSUANT TO AN NMDOT GRANT) TO SECURE EXPERT ASSISTANCE IN OBTAINING FROM US CUSTOMS A FOREIGN TRADE ZONE AND USER-FEE AIRPORT DESIGNATION FOR THE GALLUP MUNICIPAL AIRPORT AN INITIATIVE LIKEWISE INTERRELATED WITH THE INLAND PORT COMPLEX DESIGN. THIS CERTIFICATION PROCESS IS RUNNING IN PARALLEL WITH PLANS FOR REHABILITATION OF THE AIRPORT TERMINAL FACILITY. HIGHLIGHTS OF THE ORGANIZATIONS BAR WORK INCLUDED TWO ECONOMIC ROUNDTABLE CONFERENCES FOCUSED ON THE TRADEPORT INITIATIVES: ONE WAS HELD IN SANTA FE IN JANUARY 2024 (OVER 60 IN ATTENDANCE); AND THE SECOND ONE WAS HELD IN GALLUP IN JUNE 2024 (ABOUT 40 IN ATTENDANCE). THE REPORTS AND PRESENTATIONS AT THESE EVENTS WERE OUTSTANDING, ADDING GREAT VALUE TO THE GGEDCS WORK. (2) MARKETING: THE GGEDCS BAR AND MARKETING EFFORTS INCLUDED (A) CLOSE COMMUNICATION WITH AND TECHNICAL ASSISTANCE TO A NUMBER OF COMPANIES CONSIDERING RELOCATING TO THE GREATER GALLUP AREA, RESULTING IN ONE COMPANY COMMITTING TO RELOCATE AND SEVERAL COMPANIES SUSTAINING INTEREST; AND (B) ATTENDANCE AND NETWORKING WITH INDUSTRY LEADERS AT SEVERAL NATIONAL CONFERENCES, INCLUDING THE TRANSATLANTIC BUSINESS INVESTMENT COUNCIL (TBIC), JOURNAL OF COMMERCE (JOC) INLAND DISTRIBUTION CONFERENCE, THE INTERNATIONAL MANUFACTURING TECHNOLOGY SHOW (IMTS), THE SELECT USA TRADE SHOW, AND THE BREAKBULK TRADE SHOW. THE GGEDC ACHIEVED RECERTIFICATION BY TBIC, AS WELL AS BY THE NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT AS A CERTIFIED ECONOMIC DEVELOPMENT ORGANIZATION. (3) BUSINESS RETENTION & EXPANSION (BRE): THE GGEDC CONTINUED AND REFINED ITS AWARD-WINNING BUSINESS RETENTION AND EXPANSION (BRE) PROGRAM, INCLUDING SEMI-ANNUAL INTERVIEWS WITH KEY ECONOMIC-BASE EMPLOYERS AND RECOGNITION OF A LOCAL EMPLOYER,PEABODY COAL COMPANY, FOR ITS ECONOMIC CONTRIBUTIONS TO THE REGION. THE GGEDC ALSO ACTIVELY CONTINUED ITS SUPPORT FOR EXPANSION OF THE MCKINLEY PAPER OPERATION LOCATED AT PREWITT IN EASTERN MCKINLEY COUNTY. THE GGEDC RECEIVED AN AWARD FROM THE INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL(IEDC) FOR ITS OUTSTANDING WORK IN ORGANIZING AND HOSTING ECONOMIC DEVELOPMENT WEEK IN THE GREATER GALLUP COMMUNITY. 498344 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 4 0 6 true false false false false false false false false X 7 7 false false false false false false false true true false false true true true true true true true true false NM X X PATRICIA LUNDSTROM 5057222980 PO BOX 1795 GALLUP NM 87305 TOMMY HAWS PRESIDENT 2.00 X X 0 0 0 RICK MURPHY VICE-PRESIDE 2.00 X X 0 0 0 JOE MESICH TREASURER 2.00 X X 0 0 0 KEVIN TAIRA SECRETARY 2.00 X X 0 0 0 LOUIE BONAGUIDI DIRECTOR 2.00 X X 0 0 0 KUMAR YOGASH DIRECTOR 2.00 X 0 0 0 TONY TANNER DIRECTOR 2.00 X 0 0 0 PATRICIA LUNDSTROM EXECUTIVE DI 40.00 X 142195 0 0 142195 1 false false false 524872 31000 555872 14999 14999 OTHER INCOME 359 359 359 571230 359 14999 X 142196 71098 56878 14220 160630 154785 4676 1169 8388 6257 1705 426 23392 17448 4755 1189 2150 2150 20174 20174 166390 148290 18100 4196 4196 14128 6562 7119 447 7795 5815 1584 396 23601 19190 3603 808 33310 24846 6771 1693 31064 31064 532 532 5288 4759 529 5408 4034 1099 275 OTHER 1326 1326 TAXES 120 120 FEES & SERVICE CHGS 98 98 650186 498344 131219 20623 518948 438558 61446 3025 1607 1607 35673 18914 4578 16759 592288 986190 764891 430926 1885337 1935486 8335 6681 12259 50974 20594 57655 X 1864743 1877831 1864743 1877831 1885337 1935486 X -78956 91707 337 X false true X true false X 713542 1873596 849522 543918 555872 4536450 713542 1873596 849522 543918 555872 4536450 4536450 139 7216 2648 11079 14999 36081 359 359 4572890 2762 0.99200 0.99510 X PART II, LINE 10 359 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11802 2270 9532 23871 16644 7227 16759 DESIGNATED CASH 400392 RIGHT OF USE ASSET OPER LEASE 30534 430926 LONG-TERM LEASE LIABILITY-OPERATING 15556 LEASE LIABILITY- OPERATING 14978 ACCRUED WAGES 13275 LONG-TERM OBLIGTN FIN LEASE 3234 OBLIGTN FIN LEASE-CURRENT 2724 PAYROLL TAX LIABILITY 1207 50974 X 662937 91707 91707 571230 571230 650186 650186 650186 SCHEDULE D, PAGE 3, PART X GREATER GALLUP ECONOMIC DEVELOPMENT CORPORATION ANNUALLY EVALUATES ALL FEDERAL AND STATE INCOME TAX POSITIONS. THIS PROCESS INCLUDES AN ANALYSIS OF WHETHER THESE INCOME TAX POSITIONS THE ORGANIZATION TAKES MEET THE DEFINITION OF AN UNCERTAIN TAX POSITION UNDER THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS CODIFICATION. AS OF JUNE 30, 2024, THERE WERE NO UNCERTAIN TAX POSITIONS NOTED. GREATER GALLUP ECONOMIC DEVELOPMENT CORPORATION'S POLICY IS TO CLASSIFY TAX PENALTIES AND INTEREST, WHEN APPLICABLE, ACCORDING TO THEIR NATURAL CLASSIFICATION. UNDER THE STATUTE OF LIMITATIONS, GREATER GALLUP ECONOMIC DEVELOPMENT CORPORATION'S TAX RETURNS ARE NO LONGER SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR YEARS PRIOR TO 2021. FORM 990 - ORGANIZATION'S MISSION IT IS THE MISSION OF THE GGEDC TO DRIVE ECONOMIC GROWTH IN THE GALLUP- MCKINLEY COUNTY AREA THROUGH BUILDING ON LOCAL ASSETS AND STRATEGIC PARTNERING TO ATTRACT, RECRUIT AND RETAIN BUSINESS AND INDUSTRIAL EMPLOYERS THAT PROVIDE ECONOMIC-BASE JOBS AND TO SUPPORT AD PROMOTE A BUSINESS- FRIENDLY ENVIRONMENT. FORM 990, PAGE 2, PART III, LINE 4A (1)BUSINESS ATTRACTION & RECRUITMENT (BAR): UNDER THE GGEDCS CORE BUSINESS ATTRACTION AND RECRUITMENT (BAR) PROGRAM, THE GGEDC SECURED AND BEGAN EXECUTION OF A CONTRACT FROM MCKINLEY COUNTY (RENEWED FOR ANOTHER YEAR AT JULY 1, 2024) TO OVERSEE AND COORDINATE THE WORK OF CONSULTANT TEAMS ON THREE INTER-RELATED DEVELOPMENT PROJECTS,ENGAGED BY THE COUNTY TO PLAN AND DESIGN: (A) AN AUTONOMOUS VEHICLES TEST TRACK COMPLEX; (B) A HYDROGEN FUEL HUB; AND (C) A MULTI-FUNCTIONAL INLAND PORT FACILITY. GGEDC STAFF AND LOCAL CONSULTANTS ASSISTED THE COUNTY IN THE RFP/CONSULTANT PROCUREMENT PROCESS AND THEN COORDINATED COMMUNICATIONS AND TRACKED PROGRESS ON EACH OF THE INITIATIVES. THESE EFFORTS WERE FUNDED BY THREE PLANNING AND DESIGN GRANTS FROM THE NEW MEXICO DEPARTMENT OF TRANSPORTATION (NMDOT). THE GGEDC ALSO BEGAN WORK UNDER ITS CONTRACT WITH THE CITY OF GALLUP (ALSO PURSUANT TO AN NMDOT GRANT) TO SECURE EXPERT ASSISTANCE IN OBTAINING FROM US CUSTOMS A FOREIGN TRADE ZONE AND USER-FEE AIRPORT DESIGNATION FOR THE GALLUP MUNICIPAL AIRPORT AN INITIATIVE LIKEWISE INTERRELATED WITH THE INLAND PORT COMPLEX DESIGN. THIS CERTIFICATION PROCESS IS RUNNING IN PARALLEL WITH PLANS FOR REHABILITATION OF THE AIRPORT TERMINAL FACILITY. HIGHLIGHTS OF THE ORGANIZATIONS BAR WORK INCLUDED TWO ECONOMIC ROUNDTABLE CONFERENCES FOCUSED ON THE TRADEPORT INITIATIVES: ONE WAS HELD IN SANTA FE IN JANUARY 2024 (OVER 60 IN ATTENDANCE); AND THE SECOND ONE WAS HELD IN GALLUP IN JUNE 2024 (ABOUT 40 IN ATTENDANCE). THE REPORTS AND PRESENTATIONS AT THESE EVENTS WERE OUTSTANDING, ADDING GREAT VALUE TO THE GGEDCS WORK. (2) MARKETING: THE GGEDCS BAR AND MARKETING EFFORTS INCLUDED (A) CLOSE COMMUNICATION WITH AND TECHNICAL ASSISTANCE TO A NUMBER OF COMPANIES CONSIDERING RELOCATING TO THE GREATER GALLUP AREA, RESULTING IN ONE COMPANY COMMITTING TO RELOCATE AND SEVERAL COMPANIES SUSTAINING INTEREST; AND (B) ATTENDANCE AND NETWORKING WITH INDUSTRY LEADERS AT SEVERAL NATIONAL CONFERENCES, INCLUDING THE TRANSATLANTIC BUSINESS INVESTMENT COUNCIL (TBIC), JOURNAL OF COMMERCE (JOC) INLAND DISTRIBUTION CONFERENCE, THE INTERNATIONAL MANUFACTURING TECHNOLOGY SHOW (IMTS), THE SELECT USA TRADE SHOW, AND THE BREAKBULK TRADE SHOW. THE GGEDC ACHIEVED RECERTIFICATION BY TBIC, AS WELL AS BY THE NEW MEXICO ECONOMIC DEVELOPMENT DEPARTMENT AS A CERTIFIED ECONOMIC DEVELOPMENT ORGANIZATION. (3) BUSINESS RETENTION & EXPANSION (BRE): THE GGEDC CONTINUED AND REFINED ITS AWARD-WINNING BUSINESS RETENTION AND EXPANSION (BRE) PROGRAM, INCLUDING SEMI-ANNUAL INTERVIEWS WITH KEY ECONOMIC-BASE EMPLOYERS AND RECOGNITION OF A LOCAL EMPLOYER,PEABODY COAL COMPANY, FOR ITS ECONOMIC CONTRIBUTIONS TO THE REGION. THE GGEDC ALSO ACTIVELY CONTINUED ITS SUPPORT FOR EXPANSION OF THE MCKINLEY PAPER OPERATION LOCATED AT PREWITT IN EASTERN MCKINLEY COUNTY. THE GGEDC RECEIVED AN AWARD FROM THE INTERNATIONAL ECONOMIC DEVELOPMENT COUNCIL(IEDC) FOR ITS OUTSTANDING WORK IN ORGANIZING AND HOSTING ECONOMIC DEVELOPMENT WEEK IN THE GREATER GALLUP COMMUNITY. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT AND MEMBERS OF THE BOARD PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PAGE 6, PART VI, LINE 12C BOARD MEMBERS ARE REQUIRED TO REPORT ALL POTENTIAL AND ACTUAL CONFLICTS OF INTEREST. STEPS ARE TAKEN BY THE BOARD AND THE AFFECTED MEMBER TO MITIGATE THE CONFLICT AT THAT TIME. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE DIRECTOR AND STAFF COMPENSATION IS SET DURING THE ANNUAL BUDGETING PROCESS. FORM 990, PAGE 6, PART VI, LINE 15B EXECUTIVE DIRECTOR AND STAFF COMPENSATION IS SET DURING THE ANNUAL BUDGETING PROCESS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES 148,290 18,100 0 FORM 990, PART XI, LINE 9 RESTATEMENT OF NET ASSETS 337