New Mexico Tech Foundation

Organization Overview

New Mexico Tech Foundation is located in Socorro, NM. The organization was established in 1965. According to its NTEE Classification (U11) the organization is classified as: Single Organization Support, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Tech 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 Tech Foundation generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $3.2m during the year ending 06/2022. While expenses have increased by 4.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

PROMOTE AND ADVANCE THE INTERESTS OF THE NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES SCHOLARSHIPS AND GRANTS TO SUPPORT STUDENTS ATTENDING NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY, AS WELL AS RECRUITING, ADVERTISING, AND OTHER ASSOCIATED ACTIVITIES.


TO SUPPORT MEETINGS AND EVENTS THAT RAISE THE PROFILE OF NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY WITH FRIENDS, ALUMNI AND DONORS WITH THE GOAL OF GAINING FINANCIAL SUPPORT THROUGH DONATIONS.


LEASES APARTMENTS TO NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY FOR ITS STUDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Jeffrey Corey
Vice President
$0
Clinton Marrs
President
$0
Borden Putnam III
Treasurer/secretary
$0
Colleen Foster
Executive Director
$0
Dr Cleve Mcdaniel
Trustee
$0
Dr Nelia Dunbar
Trustee
$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$1,684,567
Noncash contributions included in lines 1a–1f $83,550
Total Revenue from Contributions, Gifts, Grants & Similar$1,684,567
Total Program Service Revenue$87,900
Investment income $744,831
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,517,298

Grants Awarded

Over the last fiscal year, New Mexico Tech Foundation has awarded $1,954,468 in support to 2 organizations.

Grant RecipientAmount

NEW MEXICO INSTITUTE OF MINING & TECHNOLOGY

Org PageRecipient Profile

Socorro, NM

PURPOSE: SCHOLARSHIPS ($926,446) AND ACADEMIC SUPPORT ($751,311)

$1,677,757

NEW MEXICO TECH UNIVERSITY RESEARCH PARK CORPORATION

Org PageRecipient Profile

Socorro, NM

PURPOSE: TECHNOLOGICAL RESEARCH

$276,711
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that New Mexico Tech Foundation has recieved totaling $115,195.

Awarding OrganizationAmount
Thornburg Foundation

Santa Fe, NM

PURPOSE: NEW MEXICO WATER DATA INITIATIVE: PLANNING REGIONAL-SCALE GROUNDWATER-LEVEL MONITORING NETWORKS

$100,000
Ayco Charitable Foundation

Cohoes, NY

PURPOSE: EDUCATION

$15,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$195
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$15,467,826
Earnings-$2,092,836
Net Contributions$1,555,980
Grants$352,995
Ending Balance$14,577,975

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