Central New Mexico Community College Foundation Inc
- Assets
- $14.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Albuquerque, NM
- Founding
- 01/1986
- Data as of
- 06/2022
- EIN
- 85-0338623
Organization Overview
Central New Mexico Community College Foundation Inc is located in Albuquerque, NM. The organization was established in 1986. 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. Central New Mexico Community College 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.
For the year ending 06/2022, Central New Mexico Community College Foundation Inc generated $2.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Central New Mexico Community College Foundation Inc has awarded 14 individual grants totaling $8,043,460. 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
THE CNM FOUNDATION IS COMMITTED TO THE PRINCIPLE THAT NO CENTRAL NEW MEXICO COMMUNITY COLLEGE STUDENT SHOULD BE DENIED THE OPPORTUNITY FOR AN EDUCATION OR VOCATIONAL TRAINING DUE SOLELY TO A LACK OF FINANCIAL RESOURCES. THE CNM FOUNDATION WORKS TO HELP CNM MEET ITS MISSION TO CREATE EDUCATIONAL OPPORTUNITIES AND COMMUNITY PARTNERSHIPS WHILE PURSUING A LEVEL OF COMMUNITY COLLEGE EXCELLENCE THAT IS WORTHY OF LOCAL AND NATIONAL RECOGNITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CNM IS THE LARGEST POST-SECONDARY INSTITUTION IN THE STATE OF NEW MEXICO, EDUCATING SOME 33,389 INDIVIDUALS PER YEAR. THE CNM FOUNDATION IS THE FUNDRAISING AND ADVOCACY GROUP PROMOTING CNM AND ITS PROGRAMS WITHIN THE COMMUNITY. THE FOUNDATION'S MISSION IS TO PROVIDE THE EXTRA FINANCIAL ASSISTANCE NECESSARY FOR THE RESIDENTS OF CNM'S SERVICE AREA TO OBTAIN QUALITY EDUCATIONAL OPPORTUNITIES THEY DESERVE. THE CNM FOUNDATION PROVIDES SCHOLARSHIPS TO SUPPORT THE STUDENTS AT CNM, ASSISTING STUDENTS WITH TUITION, FEES, BOOKS, AND BASIC LIFE EXPENSES TO ENSURE THEIR SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherman Mccorkle President | OfficerTrustee | 0.3 | $0 |
Keith Hartnett President-Elect | OfficerTrustee | 0.3 | $0 |
Georgie Ortiz Past President | OfficerTrustee | 0.3 | $0 |
Clint Wells Secretary | OfficerTrustee | 36 | $0 |
Olivia Padilla-Jackson Treasurer | OfficerTrustee | 0.3 | $0 |
Tracy Hartzler Cnm President | OfficerTrustee | 0.3 | $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 | $1,269,001 |
| Noncash contributions included in lines 1a–1f | $93,416 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,269,001 |
| Total Program Service Revenue | $0 |
| Investment income | $278,626 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $546,137 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,093,764 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,143,701 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $100,060 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,153 |
| 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 | $2,436 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,256 |
| All other expenses | $1,038 |
| Total functional expenses | $1,328,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $298,765 |
| Savings and temporary cash investments | $2,663,596 |
| Pledges and grants receivable | $46,075 |
| Accounts receivable, net | $22,369 |
| 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 | $11,202,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,233,647 |
| Accounts payable and accrued expenses | $217,723 |
| Grants payable | $0 |
| Deferred revenue | $899,933 |
| 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 | $41,322 |
| Total liabilities | $1,158,978 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $13,074,669 |
| Total liabilities and net assets/fund balances | $14,233,647 |
Grants Awarded
Over the last fiscal year, Central New Mexico Community College Foundation Inc has awarded $1,143,701 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CENTRAL NM COMMUNITY COLLEGE PURPOSE: TO PROVIDE SCHOLARSHIPS TO CNM STUDENTS. | $544,833 |
CENTRAL NM COMMUNITY COLLEGE PURPOSE: PROGRAM SUPPORT FOR CNM | $598,868 |