NEW MEXICO SOCIETY OF CPAs
 Join Us in "Building" Our Future!

The Vision
The vision of the Board of Directors is for the New Mexico Society of CPAs to own our facility.  It is an opportunity: to provide a more comfortable and functional environment for our members; to invest in our future; to promote a professional image to the community; and to contain costs.

Join us in “Building” our Future
 by contributing to our goal to raise $1,000,000

Achieving this Vision will positively impact the future of the
profession in New Mexico

• Visibly enhance the professional status and important role performed by CPAs
• Uphold the public’s perception of CPAs as our community’s most trusted professionals
• Promote the profession to future professionals
• Provide a premier educational facility that will hold at least 60 comfortably and allow two events to be held simultaneously
• Incorporate state-of-the-art technology for education and communication
• Offer member firms a place for meetings, training, retreats, conferences, and recruitment events
• Give out-of-town members visiting Albuquerque office space to work or meet with clients
• Allow for organization growth

Benefits of Ownership

• Larger classroom facility will provide a more comfortable learning environment and reduce the amount currently spent on renting meeting space
• Society can create a new income stream by renting its classroom space
• New facility will offer an alternative to continually increasing building rental fees and training room fees
• Society can control the education environment – no longer holding meetings next to loud conferences
• Facility will provide a community center for the membership

The Economics

• Current lease ends May 31, 2008.  Current annual rent is approximately $70,000.
• To rent an office facility, slightly better than we have now, would cost the Society $28,000 to $35,000 more than the current annual rent.
• Most office buildings have approximately 4 parking spaces per 1,000 sq. ft.  Society and educational meeting requirements are over 3 times most parking limitations.  We have not been able to locate a suitable 5,000 sq. ft. rental facility with 12-13 parking spaces per 1,000 sq. ft.
• Society’s current debt capacity is $1.1 M.  If we acquire/build a 10,000 sq. ft. facility and rent half, our debt capacity will be $1.7 M.
• Society has $500,000 in reserves to cover a down payment, moving costs, closing cost and furnishings.

Contacts are: Janice McCrary - Society Chair/Building Task Force Chair, 505-724-3481; Peggy Roberts - Society Secretary/Treasurer, 505-766-4714, and Bruce Squire - Society Immediate Past Chair, 505-881-3408.