New Mexico Military Institute Foundation Inc

Organization Overview

New Mexico Military Institute Foundation Inc is located in Roswell, NM. The organization was established in 1998. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2022, New Mexico Military Institute Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Military Institute Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, New Mexico Military Institute Foundation Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $2.3m during the year ending 06/2022. While expenses have increased by 0.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2021, New Mexico Military Institute Foundation Inc has awarded 20 individual grants totaling $3,393,389. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE NEW MEXICO MILITARY INSTITUTE FOUNDATION, INC. (FOUNDATION) IS TO CREATE, MAINTAIN AND ADMINISTER AN ENDOWMENT FUND FOR THE BENEFIT OF NEW MEXICO MILITARY INSTITUTE (NMMI) TO BE USED FOR RESEARCH, SCIENTIFIC AND LITERARY PURPOSES; FOR INCREASING THE BUILDING, EQUIPMENT AND OTHER FACILITIES OF NMMI; TO PROVIDE FOR SCHOLARSHIPS AND TO PROMOTE GENERALLY THE GROWTH, WELFARE, AND MAINTENANCE OF NMMI.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE NMMI FOUNDATION MAINTAINS OVER 170 ENDOWED SCHOLARSHIP FUNDS AND OVER 20 ANNUAL DONOR SCHOLARSHIP FUNDS FOR THE BENEFIT OF NMMI CADETS. EARNINGS FROM THE ENDOWMENTS AND ANNUAL DONATIONS ARE PAID DIRECTLY TO NMMI TO PROVIDE SCHOLARSHIPS TO NMMI CADETS AT THE HIGH SCHOOL AND JUNIOR COLLEGE LEVEL. THE SCHOLARSHIPS HAVE VARYING CRITERIA SPECIFIED BY THE DONORS; FOR EXAMPLE SCHOLARSHIPS MAY INCLUDE MERIT-BASED AND/OR NEED-BASED REQUIREMENTS. NMMI HAS ESTABLISHED A SCHOLARSHIP COMMITTEE THAT FACILITATES THE FAIR AND IMPARTIAL GRANTING OF ALL SCHOLARSHIPS IN ACCORDANCE WITH NMMI POLICIES AND PROCEDURES AND DONOR STIPULATIONS. NMMI ESTIMATES THAT NEARLY 98% OF CADETS IN THE JUNIOR COLLEGE PROGRAM RECEIVE SOME FORM OF FINANCIAL ASSISTANCE, WHICH INCLUDES SCHOLARSHIP FUNDING. NEARLY 85% OF THE HIGH SCHOOL CADETS RECEIVE SOME SCHOLARSHIP ASSISTANCE. NMMI'S MAXIMUM CAPACITY IS ABOUT 1,000 CADETS. 379 CADETS RECEIVED SCHOLARSHIPS FROM FOUNDATION PROVIDED FUNDS IN THE 2021-2022 SCHOOL YEAR. IT IS ESTIMATED THAT 350 CADETS WILL RECEIVE SCHOLARSHIPS DURING THE 2022-2023 SCHOOL YEAR.


THE NMMI FOUNDATION MAINTAINS APPROXIMATELY 20 ENDOWMENTS WHEREBY EARNINGS ARE USED TO FUND NMMI LEADERSHIP REACTION COURSE PROGRAMS, LOW/HIGH ROPES COURSE FACILITIES AND GENERAL LEADERSHIP PROJECTS AND ACTIVITIES. THE DANIELS LEADERSHIP CENTER (DLC) SERVES GENERALLY OVER 900 CADETS EACH YEAR THROUGH USE OF STATE OF THE ART TECHNOLOGIES AND CLASSROOMS. PROGRAMS AND SERVICES ARE PROVIDED TO INTERNAL AND EXTERNAL CONSTITUENCIES AND INCLUDE THE LOW/HIGH ROPES COURSE AND THE LEADERSHIP REACTION COURSE WHICH PROVIDE LEADERSHIP CHALLENGES AND GROWTH TO BOTH CADETS AND PROFESSIONALS. THESE FACILITIES HELP BUILD SELF CONFIDENCE, TRUST AND TEAMWORK IN CHALLENGES THAT TEACH, TEST AND REINFORCE SOUND LEADERSHIP PRACTICES. THESE FACILITIES ARE USED TO TRAIN GENERALLY OVER 900 CADETS ANNUALLY WITH OVER 600 CADETS USING THE FACILITIES MULTIPLE TIMES THROUGHOUT THE SCHOOL YEAR. OVER 100 PARTICIPANTS FROM THE COMMUNITY AND OVER 500 YOUTH THROUGHOUT THE STATE USE THE FACILITIES ANNUALLY.


THE NMMI FOUNDATION MAINTAINS MORE THAN TEN ENDOWMENTS WHEREBY EARNINGS ARE USED, ALONG WITH OTHER DESIGNATED ANNUAL DONOR CONTRIBUTIONS, TO PROVIDE SUPPORT FOR CERTAIN NMMI ACADEMIC PROGRAMS. EXPENDITURES FROM THESE PROGRAMS INCLUDE SUPPORT FOR FACULTY AND CADET PROGRAMS. SUPPORT FOR FACULTY MEMBERS INCLUDES FUNDS FOR CONFERENCE ATTENDANCE, TRAINING PROGRAMS, ACADEMIC EXCELLENCE STIPENDS, PROFESSIONAL DEVELOPMENT AND RELATED TRAVEL AND LODGING. SUPPORT FOR CADETS INCLUDES FUNDS FOR ON-LINE TUTORING, ACT PROGRAMS, AUDIO BOOKS, PERIODICALS, FILMS ON DEMAND, LIBRARY BOOKS, COLLEGE FAIRS, HUMANITIES PROJECTS AND LYCEUM PROGRAMS. OTHER USES OF FUNDS INCLUDE FACULTY ENHANCEMENT SUPPORT FOR EMPLOYEES OF THE LEARNING RESOURCE CENTER, PURCHASE OF LIBRARY EQUIPMENT AND ENTREPRENEURIAL PROJECTS SUPPORT.


OTHER PROGRAM SERVICES SUPPORT WAS USED FOR NMMI CADET ACTIVITIES, ATHLETIC EQUIPMENT AND SUPPLIES, INSTITUTIONAL ADVANCEMENT, FACULTY AND STAFF PROGRAMS, RECRUITING AND ADMISSIONS PROGRAMS, ALUMNI RELATIONS SUPPORT AND CHAPLAIN PROGRAMS.


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Board, Officers & Key Employees

Name (title)Compensation
Jimmy Barnes
President & CEO
$107,383
Jesus Salazar
Immediate Past Chairman
$0
Kenneth Barbe Jr
Chairman
$0
Dr Jesus R Ramos Garza
Secretary
$0
Kim Greaves
Vice Chairman
$0
Frank Spencer III
Treasurer
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,508,987
Noncash contributions included in lines 1a–1f $89,333
Total Revenue from Contributions, Gifts, Grants & Similar$1,508,987
Total Program Service Revenue$4,455
Investment income $573,873
Tax Exempt Bond Proceeds $0
Royalties $112
Net Rental Income $352,617
Net Gain/Loss on Asset Sales $2,707,901
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,073,152

Grants Awarded

Over the last fiscal year, New Mexico Military Institute Foundation Inc has awarded $1,694,647 in support to 11 organizations.

Grant RecipientAmount

NEW MEXICO MILITARY INSTITUTE

PURPOSE: NMMI Cadet Scholarships

$834,590

NEW MEXICO MILITARY INSTITUTE

PURPOSE: Leadership Program Operations

$244,320

NEW MEXICO MILITARY INSTITUTE

PURPOSE: Academic Programs

$148,046

NEW MEXICO MILITARY INSTITUTE

PURPOSE: Athletic Programs

$141,414

NEW MEXICO MILITARY INSTITUTE

PURPOSE: Institutional Advancement

$118,513

NEW MEXICO MILITARY INSTITUTE

PURPOSE: Admissions and Recruiting

$114,801
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 5 grants that New Mexico Military Institute Foundation Inc has recieved totaling $144,336.

Awarding OrganizationAmount
Destwolinski Family Foundation

Las Vegas, NV

PURPOSE: NATIVE AMERICAN SCHOLARSHIPS

$57,483
Destwolinski Family Foundation

Las Vegas, NV

PURPOSE: NATIVE AMERICAN SCHOLARSHIPS

$55,809
Albuquerque Community Foundation

Albuquerque, NM

PURPOSE: CARL F. SCOTT SCHOLARSHIP

$28,863
Alexander C Waterhouse Sr Foundation

Honolulu, HI

PURPOSE: EDUCATION PROGRAM

$2,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$181
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$56,385,908
Earnings-$6,595,941
Net Contributions$1,425,416
Other Expense$828,054
Grants$834,590
Ending Balance$49,552,739

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