Northern New Mexico College Foundation
- Assets
- $4.8m
- Revenue
- $357.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Espanola, NM
- Founding
- 09/1997
- Data as of
- 06/2019
- EIN
- 74-2835828
Organization Overview
Northern New Mexico College Foundation is located in Espanola, NM. The organization was established in 1997. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Northern New Mexico 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 06/2019, Northern New Mexico College Foundation generated $357.2k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $174.4k during the year ending 06/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
INCREASE, MANAGE, AND DISTRIBUTE RESOURCES FOR THE BENEFIT OF THE STUDENTS, THE COLLEGE, AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS ARE AWARDED TO QUALIFIED STUDENTS. 105 STUDENTS WERE AWARDED SCHOLARSHIPS TO ATTEND NORTHERN NEW MEXICO COLLEGE IN THE CURRENT AWARDS CYCLE, FALL OF 2019. THIS PROGRAM IS SUPPORTED BY A VOLUNTEER COMMITTEE COMPOSED OF 22 DONORS, FACULTY, AND COMMUNITY LEADERS, WHO RANK AND RATE THE SCHOLARSHIP APPLICANTS AND REVIEW AND CRITIQUE THE PROCESS.
PASS-THROUGH GRANTS AND OTHER COLLEGE SUPPORT SERVICES. THE FOUNDATION CREATES INDIVIDUAL, SPECIAL FUNDS FOR VARIOUS COLLEGE GROUPS, ENTITIES, AND DEPARTMENTS SUCH AS THE COLLEGE OF ENGINEERING AND THE HUMANITIES DEPARTMENT AS A WAY TO PROVIDE NONPROFIT SERVICES FOR UNIQUE REVENUES RECEIVED ON THEIR BEHALF. THESE INCOMES INCLUDE GRANTS, IN-KIND GIFTS AND DONATIONS OF CASH.
SPECIAL PROJECTS AND OTHER SUPPORT SERVICES. THE FOUNDATION PROVIDES OVERSIGHT, MANAGEMENT, LOGISTICS, FINANCE AND STAFFING SUPPORT FOR SPECIAL PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Montoya President | OfficerTrustee | 5 | $0 |
Alfred Herrera Vice President | OfficerTrustee | 2 | $0 |
Tania Sanchez Secretary/treasurer | OfficerTrustee | 2 | $0 |
Dr Rick Bailey Ex-Officio Member | Trustee | 2 | $0 |
Catherine Rosacker Member | Trustee | 2 | $0 |
Ricky Bejarano CPA Cgma Ex-Officio Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,740 |
| Investment income | $107,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $99,019 |
| Net Income from Fundraising Events | $79,567 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $357,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $156,232 |
| 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 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 | $0 |
| Fees for services: Other | $4,719 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,696 |
| Travel | $254 |
| 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 | $0 |
| Insurance | $1,192 |
| All other expenses | $0 |
| Total functional expenses | $174,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $654,160 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $243,900 |
| 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 | $0 |
| Investments—publicly traded securities | $3,899,391 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,000 |
| Total assets | $4,801,451 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $243,900 |
| 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 | $602,901 |
| Total liabilities | $846,801 |
| Net assets without donor restrictions | $55,259 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,899,391 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,954,650 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Northern New Mexico College Foundation has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Arizona Foundation For Educational Advancement Phoenix, AZ PURPOSE: ENSURE STUDENT SUCCESS BY PROVIDING ACCESS TO AFFORDABLE LEARNING OPPORTUNITIES MEETING EDUCATIONAL, CULUTURAL & ECONOMIC NEEDS OF THE REGION | $5,000 |
Naranjo Ewbank Family Foundation Spicewood, TX PURPOSE: SUPPORT | $2,500 |
Endowment Analysis
| Beg. Balance | $3,679,615 |
| Earnings | $206,885 |
| Net Contributions | $169,123 |
| Grants | $156,232 |
| Ending Balance | $3,899,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Arizona Leadership Foundation Inc Scottsdale, AZ | $8,143,528 | $41,232,860 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Alliance For Choice In Education Greenwood Village, CO | $60,249,872 | $34,038,450 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
Arizona Christian School Tuition Organization Inc Chandler, AZ | $15,419,007 | $23,692,507 |
Institute For Better Education Tucson, AZ | $37,186,348 | $28,870,649 |
Catholic Education Arizona Phoenix, AZ | $32,375,379 | $24,525,242 |
Arizona Tuition Connection Inc Scottsdale, AZ | $37,104,483 | $31,699,669 |