New Mexico Philharmonic Foundation Inc
- Assets
- $2.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 01/2018
- Data as of
- 12/2021
- EIN
- 82-2109038
Organization Overview
New Mexico Philharmonic Foundation Inc is located in Albuquerque, NM. The organization was established in 2018. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Philharmonic 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NEW MEXICO PHILHARMONIC FOUNDATION SEEKS TO PROVIDE SUSTAINABLE, DEDICATED FUNDING FOR THE NEW MEXICO PHILHARMONIC,INC., FUNDING THAT CREATES LONG TERM STABILITY, FUTURE GROWTH AND PERMANENCE THROUGH A COMPLETELY TRANSPARENT AND SECURE FIDUCIARY INSTRUMENT FOR DONOR SUPPORT THAT IS DIRECTLY CONTROLLED BY ITS DONORS AND TRUSTEES. THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE AS FOLLOWS: USING PRIVATE FUNDS EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3), AND, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, WITH EMPHASIS ON THE FOLLOWING SPECIFIC PROJECTS AND ACTIVITIES: PROVIDING A VEHICLE TO PROVIDE LONG-TERM FUNDING TO THE NEW MEXICO PHILHARMONIC, INC., A NEW MEXICO NONPROFIT CORPORATION; CARRYING OUT ANY PROGRAMS OR ACTIVITIES WHICH MAY BE RELATED TO THE FOREGOING, OR WHICH MAY OTHERWISE PROMOTE AND BENEFIT THE NEW MEXICO PHILHARMONIC FOUNDATION, INC., AND PERFORMING SUCH OTHER ACTIVITIES AS THE BOARD OF DIRECTORS DEEMS TO BE INCIDENTAL, PR
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RECEIVE, HOLD, INVEST, ADMINISTER, PRESERVE, AND PROTECT ENDOWMENT FUNDS AND OTHER FINANCIAL RESOURCES TO ASSIST THE NEW MEXICO PHILHARMONIC INC. IN PROVIDING QUALITY CLASSICAL MUSIC, EDUCATION, ENJOYMENT, CULTURAL ENRICHMENTS, AND SUPPLEMENTAL RELATED SERVICES TO THE PEOPLE OF NEW MEXICO.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Martin MD President | OfficerTrustee | 2 | $0 |
Jeffrey Romero Vice Preside | OfficerTrustee | 2 | $0 |
Charles Eberle MD Treasurer | OfficerTrustee | 2 | $0 |
Kory Hoggan CPA Board Member | Trustee | 2 | $0 |
David Peterson Board Member | Trustee | 2 | $0 |
Stephen S Baca Board Member | Trustee | 2 | $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 | $1,505,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,505,644 |
| Total Program Service Revenue | $0 |
| Investment income | $20,139 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,203 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,543,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $1,106 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,089 |
| Fees for services: Other | $0 |
| Advertising and promotion | $360 |
| Office expenses | $6,866 |
| Information technology | $450 |
| 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 | $0 |
| Insurance | $824 |
| All other expenses | $0 |
| Total functional expenses | $45,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,270 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $20,500 |
| Accounts receivable, net | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,271,339 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,300,109 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,029,609 |
| Net assets with donor restrictions | $1,270,500 |
| 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 | $2,300,109 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that New Mexico Philharmonic Foundation Inc has recieved totaling $1,263,850.
| Awarding Organization | Amount |
|---|---|
Mckinnon Family Foundation New York, NY PURPOSE: ARTS | $1,249,000 |
Albuquerque Community Foundation Albuquerque, NM PURPOSE: DONOR-ADVISED | $14,850 |
Endowment Analysis
| Net Contributions | $1,250,000 |
| Ending Balance | $1,250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fort Worth Art Association Endowment Foundation Fort Worth, TX | $167,745,649 | $12,496,724 |
Oklahoma City National Memorial Foundation Oklahoma City, OK | $43,932,179 | $4,892,726 |
The Hobby Center Foundation Houston, TX | $78,248,185 | $8,249,942 |
Friends Of Public Radio Arizona Tempe, AZ | $7,510,291 | $7,440,783 |
Denver Art Museum Foundation Denver, CO | $207,954,853 | $33,249,188 |
Friends Of Oeta Inc Oklahoma City, OK | $52,803,812 | $14,188,991 |
Admiral Nimitz Foundation Fredericksburg, TX | $24,328,747 | $7,231,861 |
Museum Of New Mexico Foundation Santa Fe, NM | $51,964,866 | $8,605,972 |
Dmns Foundation Denver, CO | $168,202,725 | $31,941,607 |
Houston Symphony Endowment Houston, TX | $87,456,110 | $3,071,634 |
Clyfford Still Museum Foundation Denver, CO | $160,969,221 | $5,009,227 |
Houston Grand Opera Endowment Inc Houston, TX | $94,842,059 | $24,478,386 |