New Mexico Junior College Foundation
- Assets
- $12.4m
- Revenue
- $956.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Hobbs, NM
- Founding
- 03/1970
- Data as of
- 06/2022
- EIN
- 23-7045300
Organization Overview
New Mexico Junior College Foundation is located in Hobbs, NM. The organization was established in 1970. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Junior College Foundation 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 Junior College Foundation generated $956.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $595.5k during the year ending 06/2022. While expenses have increased by 7.0% 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 2015, New Mexico Junior College Foundation has awarded 19 individual grants totaling $1,595,379. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS IN THE AMOUNT OF $201,523 WERE PAID FOR MISCELLANEOUS SCHOLARSHIPS AWARDED TO APPROXIMATELY 316 STUDENTS.
$92,762 WAS PAID TO NEW MEXICO JUNIOR COLLEGE FOR ASSISTANCE WITH VARIOUS PROGRAMS WHICH INCLUDED: STUDENT LEARNING EVENTS, PROMOTION OF COMMUNITY AWARENESS WITH REGARD TO NMJC INITIATIVES, ATHLETIC PROGRAMS, RECOGNITION FOR ANNUAL OUTSTANDING NMJC FACULTY AND STAFF OF THE YEAR AWARDS, AND OTHER NMJC INITIATIVES.
FUNDS IN THE AMOUNT OF $21,531 WERE PAID FOR WORK-STUDY TO APPROXIMATELY 4 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosie Insilan President | OfficerTrustee | 0.25 | $0 |
Allyson Roberts Vice President | OfficerTrustee | 0.25 | $0 |
Tina Kunko Secretary | OfficerTrustee | 40 | $0 |
Josh Morgan Treasurer | OfficerTrustee | 1 | $0 |
Steve Mccleery Nmjc Interim President | Trustee | 0.25 | $0 |
Rosa Carillo Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,190 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $371,436 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $382,626 |
| Total Program Service Revenue | $0 |
| Investment income | $336,190 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $27,570 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $204,105 |
| Net Income from Fundraising Events | -$15,805 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $955,968 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $114,293 |
| Grants and other assistance to domestic individuals. | $201,523 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $117,817 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,439 |
| Insurance | $1,186 |
| All other expenses | $750 |
| Total functional expenses | $595,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,160 |
| Savings and temporary cash investments | $1,501,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,176 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $244 |
| Net Land, buildings, and equipment | $58,203 |
| Investments—publicly traded securities | $10,589,110 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $199,856 |
| Total assets | $12,380,291 |
| Accounts payable and accrued expenses | $22,768 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,768 |
| Net assets without donor restrictions | $218,590 |
| Net assets with donor restrictions | $12,138,933 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,380,291 |
Grants Awarded
Over the last fiscal year, New Mexico Junior College Foundation has awarded $114,293 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NEW MEXICO JUNIOR COLLEGE PURPOSE: PROGRAM ASSISTANCE | $92,762 |
NEW MEXICO JUNIOR COLLEGE PURPOSE: WORK-STUDY | $21,531 |