NonprofitsNew Mexico Military Institute Foundation Inc

Education

New Mexico Military Institute Foundation Inc

ROSWELL, NM

Total revenue

$5.2M

Total expenses

$3.1M

Net assets

$92.2M

Grants received

$1.6M

23 grants

EIN

856010718

Tax year

2024

Mission

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.

Programs

3 programs

The NMMI Foundation maintains approximately 20 endowments whereby earnings are used to fund NMMI Leadership Reaction Course programs, Low/High Ropes Course facilities, leadership salaries and benefits and general Leadership projects and activities. The Daniels Leadership Center (DLC) serves the entire Corps of Cadets each year through use of state of the art technologies, classrooms and course facilities. 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 throughout the entire school year.

Expenses: $328KGrants: $328K

The NMMI Foundation maintains more than ten endowments and several annual funds whereby earnings and annual donations are used to provide support for NMMI academic programs. Expenditures for these programs include support for faculty stipends, classroom equipment, information technology equipment and software, band equipment, library subscriptions, supplies and other related academic programs and projects.

Expenses: $263KGrants: $263K

Other program services support was used for NMMI athletic programs, cadet activities, institutional advancement, faculty and staff programs, recruiting and admissions programs, alumni relations support and other NMMI programs.

Expenses: $935KGrants: $935K

Financials

FY 2024

Revenue

Contributions & grants$1.6M
Program service revenue$4K
Investment income$2.9M
Other revenue$690K
Total revenue$5.2M

Expenses

Grants paid$2.6M
Salaries & benefits$272K
Fundraising$8K
Other expenses$314K
Total expenses$3.1M
Total assets$93.5M
Net assets$92.2M

People

14 listed

NameRoleCompensation

Jimmy Barnes

President & CEO

Board

$127K

40 hrs/wk

Jesus Salazar

Immediate Past Chairman

Board

2 hrs/wk

Kenneth Barbe Jr

Chairman

Board

5 hrs/wk

Dr Jesus R Ramos Garza

Secretary

Board

2 hrs/wk

Kim Greaves

Vice Chairman

Board

2 hrs/wk

Kevin O Butler

Member

Board

1 hrs/wk

Thomas E Jennings

NMMI Regent Member

Board

1 hrs/wk

Christina Maria Montoya

NMMI Regent Member

Board

1 hrs/wk

BG Voris W McBurnette NMMI Supt

Ex Officio Member

Board

1 hrs/wk

Claire E Chase

Member

Board

1 hrs/wk

Dr Earl A Tres Latimer III

Member

Board

1 hrs/wk

Gregory D Sampson

NMMI Regent Appointment

Board

1 hrs/wk

George M Yates

Member

Board

1 hrs/wk

Frank Spencer III

Treasurer

Board

2 hrs/wk

Grants received

Showing 23 of 23

FromAmountPurposeYear
$500K
INTERMEDIATE PREPARATORY ACADEMY (IPA) CAPITAL RENOVATION PROJECT.
2024
$100K
TUITION ASSISTANCE FOR NMMI INTERMEDIATE PREPARATORY ACADEMY
2024
$72K
GENERAL SUPPORT
2024
$25K
CHARITABLE GIFT
2024
$100K
TUITION ASSISTANCE FOR NMMI INTERMEDIATE PREPARATORY ACADEMY
2023
$96K
Support school scholarships
2023
$31K
GENERAL SUPPORT
2023
$8K
SCHOLARSHIPS
2023
$5K
For grant recipient's exempt purposes
2023
$48K
Support school scholarships
2022
$30K
AGENCY DISTRIBUTION
2022
$69K
Support school scholarships
2021
$78K
Support school scholarships
2020
$29K
CARL F. SCOTT SCHOLARSHIP
2020
$100
MATCHING GIFTS
2020
$58K
Support school scholarships
2019
$31K
Libraries as Launchpads
2019
$29K
AGENCY DISTRIBUTION
2019
$126K
Support school scholarships
2018
$81K
Support School Scholarships
2017

Funded by

$1.6M from 10 funders · 23 grants · 2017–2024

Daniels Fund

$700K · 3 grants · 2023–2024

The Waterhouse Charitable Trust

$556K · 7 grants · 2017–2023

Albuquerque Community Foundation

$191K · 5 grants · 2019–2024

National Philanthropic Trust

$80K · 2 grants · 2022–2023

Greater Artesia Foundation

$31K · 1 grant · 2019

Foundation For The Carolinas

$25K · 1 grant · 2024

California Community Foundation

$10K · 1 grant · 2021

Tulsa Community Foundation

$8K · 1 grant · 2023

Details

EIN856010718
NTEE codeB90
Subsection03
Ruling date1998-10
Formed1945
Employees2
Volunteers0
NEW MEXICO MILITARY INSTITUTE FOUNDATION INC — Mission, Financials & Grants Received | Grantivo