2024-05-14T15:43:22+00:00 2023-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-07-01 850170157 New Mexico State Univ Fdn Inc NEWM 5756461613 PO Box 3590 Las Cruces NM 880033590 David H Strong Chief Financial Officer 5756464072 2024-05-14 true David Strong 999009999 true Nicole Bencik P00756195 3128997000 2022 2023-04-26 12:10:37Z David H Strong PO Box 3590 Las Cruces NM 880033590 179584079 false X nmsufoundation.org X 1959 NM THE MISSION OF NEW MEXICO STATE UNIVERSITY FOUNDATION IS TO FOSTER LONG-TERM RELATIONSHIPS WITH OUR ALUMNI, SUPPORTERS, AND COMMUNITY IN ORDER TO SECURE, MANAGE, STEWARD, AND PROTECT A SUSTAINABLE SOURCE OF PRIVATE RESOURCES THAT WILL ENHANCE THE ABILITY OF NEW MEXICO STATE UNIVERSITY TO FULFILL ITS LAND GRANT MISSION. 29 29 47 43 8394907 8584484 25136627 10230736 876682 4641177 63831764 2614849 4153351 1526858 93998424 19013620 13671125 15955375 0 3671110 5693895 502083 0 5137244 1063622 2644437 18907940 24293707 75090484 -5280087 352538517 384382069 51149338 84046335 301389179 300335734 THE MISSION OF NEW MEXICO STATE UNIVERSITY FOUNDATION IS TO FOSTER LONG-TERM RELATIONSHIPS WITH OUR ALUMNI, SUPPORTERS, AND COMMUNITY IN ORDER TO SECURE, MANAGE, STEWARD, AND PROTECT A SUSTAINABLE SOURCE OF PRIVATE RESOURCES THAT WILL ENHANCE THE ABILITY OF NEW MEXICO STATE UNIVERSITY TO FULFILL ITS LAND GRANT MISSION. false false 15955375 15955375 4641177 FY 23 grants to NMSU represent a $2.36M (17%) increase from the prior year. These grants support a wide range of activities for NMSU including funding for NMSU colleges and units, athletics, and research initiatives. A portion of this amount provided funding for scholarships awarded to over 2,700 students during the fiscal year. The overall funding of NMSU during the fiscal year was provided by thousands of current-use gifts from generous donors and alumni as well as grants from over 1,700 endowment funds. 15955375 true true false false false false true true true true true false false true true true false false false true false false false true false false true false true false false false false false false false false true false false false true false false false false true 35 0 true 47 true true true false false false true true true true false false false false false false false false X 29 29 true false true false false false false true true false false false true true true true true true true false CA CO DC KY ME AK MD MA MI MN NV NH NJ NM NY ND OH OK OR SC UT WA WI X X David H Strong 5756464072 1305 North Horseshoe Las Cruces NM 88003 AARON DE LOS SANTOS TREASURER 2.0 0.0 X X 0 0 0 AMY HUMMER SECRETARY 2.0 0.0 X X 0 0 0 CHRISTIAN H HENDRICKSON CHAIR 2.0 0.0 X X 0 0 0 LOUIS A VEGA VICE CHAIR 2.0 0.0 X X 0 0 0 RAQUEL BONE SECRETARY UNTIL 12/31/2022 2.0 0.0 X X 0 0 0 ABEL COVARRUBIAS MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 ANTONIA ROYBAL-MACK MEMBER UNTIL 12/31/2022 1.0 0.0 X 0 0 0 BOB DINTELMAN MEMBER 1.0 0.0 X 0 0 0 BOBBY LUTZ MEMBER UNTIL 12/31/2022 1.0 0.0 X 0 0 0 CHRISTOPHER DULANY MEMBER 1.0 0.0 X 0 0 0 DEANZA VALENCIA MEMBER 1.0 0.0 X 0 0 0 DEL ESPARZA MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 DR JUDY JOHNSON MEMBER 1.0 0.0 X 0 0 0 DR SUE GERBER MEMBER 1.0 0.0 X 0 0 0 ERIC POWELL MEMBER 1.0 0.0 X 0 0 0 FRANK SEIDEL MEMBER 1.0 0.0 X 0 0 0 HAROLD FOREMAN MEMBER UNTIL 3/25/2023 1.0 0.0 X 0 0 0 JAGDEV CHEEMA MEMBER 1.0 0.0 X 0 0 0 JIM RHODES MEMBER 1.0 0.0 X 0 0 0 JOEL GRANGER MEMBER 1.0 0.0 X 0 0 0 JOHN CORDOVA MEMBER 1.0 0.0 X 0 0 0 KEVIN CONROY MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 KEVIN JAMESON MEMBER UNTIL 12/31/2022 1.0 0.0 X 0 0 0 KYLE LOUVAR IMMEDIATE PAST CHAIR 1.0 0.0 X 0 0 0 KYLE RHODES MEMBER 1.0 0.0 X 0 0 0 MANNY MORA MEMBER 1.0 0.0 X 0 0 0 MARC REYES MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 MARGARET HARDIN MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 MICHAEL PACKARD MEMBER FROM 1/1/2023 1.0 0.0 X 0 0 0 NICOLE LOUVAR MEMBER 1.0 0.0 X 0 0 0 ROBERT MARTINEZ MEMBER 1.0 0.0 X 0 0 0 ROSS MCCALLISTER MEMBER 1.0 0.0 X 0 0 0 SUE DINTELMAN MEMBER 1.0 0.0 X 0 0 0 SUSAN PLANTZ MEMBER 1.0 0.0 X 0 0 0 THOM PRICE MEMBER 1.0 0.0 X 0 0 0 Derek Dictson President 40.0 0.0 X 404563 0 80197 Keith Emrick VP for Development 40.0 0.0 X 191914 0 33194 Kristin Ludwig Chief Operating Officer 40.0 0.0 X 251449 0 45316 Virginia Schlemeyer VP for External Relations 40.0 0.0 X 305733 0 50987 Brien Murphy Senior Director - Corporate and Foundation Relations 40.0 0.0 X 104520 0 32945 James Covington Executive Director - Estates and Planned Giving 40.0 0.0 X 149169 0 27054 1407348 0 269693 6 false true false Angeles Investments 429 Santa Monica Blvd Santa Monica CA 90401 investment fees 706509 Blackbaud Inc PO BOX 844827 BOSTON MA 02284 Software maintenance 122956 Robert Half PO Box 743245 Los Angeles CA 90074 Help with staffing services 114898 3 555301 101850 9573585 454863 10230736 NMSU Management Fee 4475664 4475664 Membership Dues 165513 165513 0 0 0 0 4641177 3505826 8394907 -4889081 15519 15519 829375 318541 510834 0 510834 510834 159275352 800 160146849 20280 -871497 -19480 -890977 -890977 107505 101850 84789 22716 22716 Non-gift Revenue 484426 484426 Reimbursements 216450 216450 Other Revenue 165242 165242 111671 0 0 111671 977789 19013620 4641177 8394907 -4253200 15955375 15955375 1265383 589310 676073 3430495 826964 2603531 482603 108290 374313 252981 151095 101886 262433 63263 199170 132909 57400 75509 49888 49888 430161 0 223348 206813 70233 70233 238913 147777 91136 284187 201278 82909 560 560 496100 94650 401450 5807 5807 52839 52839 Other expenses 277189 277189 OWH other expenses 220661 220661 Candidate Search 181034 63445 117589 Publications 96397 399 95998 107559 0 66925 40634 24293707 15955375 3201088 5137244 5509603 11332294 322239 292824 9510967 6554552 0 0 0 271577 26403941 4 198955 218248 5184300 578809 3562371 4605491 284923398 333904797 0 48239403 1069922 352538517 384382069 0 418324 350413 334425 34491 34491 0 50764434 83259095 51149338 84046335 X 18118686 96724472 283270493 203611262 301389179 300335734 352538517 384382069 X -5280087 15783804 -11557162 X false true X true false X 15826482 14647987 93286084 25136627 10230736 159127916 0 166112 198949 142689 356770 332165 1196685 15992594 14846936 93428773 25493397 10562901 160324601 321499 160003102 4032743 5852806 6964897 8179100 4350720 29380266 55102 9708474 675096 8013263 8584484 27036419 315555 353321 -558866 3769088 977789 4856887 221598173 8234316 0.7220 0.7594 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - SPECIAL EVENTS, MERCHANDISE SALES AND OTHER MISC. REVENUE, COLUMN A - 315555.0, COLUMN B - 353321.0, COLUMN C - -558866.0, COLUMN D - 3769088.0, COLUMN E - 977789.0, COLUMN F - 4856887.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 191000 false false true X 168023780 84599254 16419179 2339862 3800439 262901912 160976117 15005384 -1726488 2547068 3684165 168023780 138129867 10212516 18017407 1843277 3540396 160976117 139218367 8390780 -4289852 1758004 3431424 138129867 134002049 9269047 3733128 4937253 2848604 139218367 0.3307 0.0 0.6693 false false 4548000 4548000 573657 543329 30328 62643 35480 27163 4605491 Investments - Securities 254101570 F ASSETS HELD IN TRUST - NMSU 79803227 F 333904797 ASSETS HELD IN TRUST - NMSU 79803227 DUE TO NMSU 2010095 GIFT ANNUITIES PAYABLE 1445773 OTHER LIABILITIES 0 83259095 X 23671843 15783804 332165 -11557162 4558807 19113036 -99416 -99416 19013620 24725288 332165 99416 431581 24293707 0 0 24293707 Schedule D, Part III, Line 4 Collections of art - description of collections THE ORIGINAL WORKS OF ART ARE ON DISPLAY AND SERVE TO ENCOURAGE DONORS TO CONTINUE CONTRIBUTING TO THE VARIOUS ART/PERFORMING ART PROGRAMS OF NEW MEXICO STATE UNIVERSITY. Schedule D, Part IV, Line 2b Explanation of escrow agreement THE ORGANIZATION HOLDS SECURITY DEPOSITS OF TENANTS IN ITS REAL ESTATE INVESTMENT. Schedule D, Part V, Line 4 Intended uses of endowment funds THE FOUNDATION'S ENDOWMENTS CONSIST OF APPROXIMATELY 1,730 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES TO SUPPORT THE MISSION OF THE FOUNDATION TO SUPPORT NEW MEXICO STATE UNIVERSITY BY PROVIDING FUNDS FOR NEW MEXICO STATE UNIVERSITY ACTIVITIES, SCHOLARSHIPS, AND FINANCIAL AID TO STUDENTS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is an organization exempt from income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3). However, the Foundation is subject to taxation on income derived from business activities not substantially related to the Foundation's exempt function (unrelated business income under Internal Revenue Code Section 511); such income is taxed at the normal corporate rate. Contributions to the Foundation are deductible by donors as provided under Section 170 of the Internal Revenue Code. The Foundation's accounting policy provides that a tax expense or benefit from an uncertain tax position may be recognized when it is more-likely-than-not that the position will be sustained upon examination based on the technical merits. The Foundation has no uncertain tax positions resulting in an accrual of tax expense or benefit. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 ALLOWANCE ON OWH - -8758557 PRIOR PERIOD ADJUSTMENT - -203761 CHANGE IN SPLIT INTEREST AGREEMENT-ENDOWMENT - -295156 CHANGE IN DONOR RESTRICTION - -2299688 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Rental income moved to Part IX: Statement of functional expenses - 560 Special event expenses moved to Part VIII: Statement of Revenue - -84789 Adjustment to other revenue - -15187 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rental income moved to Part IX: Statement of functional expenses - -560 Special event expenses moved to Part VIII: Statement of Revenue - 84789 Adjustment to other expenses - 15187 Central America and the Caribbean 0 0 Investments 24486859 0 0 0 0 0 0 24486859 0 24486859 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual Sixth Man Tip-off 84771 38332 46439 14617 Aggies in Paradise 52011 26868 25143 36420 3 72573 36650 35923 33752 209355 101850 107505 84789 84789 22716 false NEW MEXICO STATE UNIVERSITY PO BOX 30001 LAS CRUCES NM 88003 856000401 GOV 15955375 SUPPORT NMSU ACTIVITIES 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The Foundation's purpose is to secure and manage private gifts to promote the educational, research, and service purposes of NMSU; therefore, all grants and assistance are awarded to NMSU and eligibility is automatic. Selection criteria and eligibility for specific grants or assistance provided to NMSU colleges and units are defined by individual donors via written gift agreements at the time a donation is made. All gift agreements are maintained by the Foundation as outlined in the approved document retention policies. X X false false false false false false false false false Derek Dictson President 404563 0 0 0 0 0 46588 0 33609 0 484760 0 0 0 Keith Emrick VP for Development 191914 0 0 0 0 0 26164 0 7030 0 225108 0 0 0 Virginia Schlemeyer VP for External Relations 305733 0 0 0 0 0 40068 0 10919 0 356720 0 0 0 Kristin Ludwig Chief Operating Officer 251449 0 0 0 0 0 29066 0 16250 0 296765 0 0 0 James Covington Executive Director - Estates and Planned Giving 149169 0 0 0 0 0 20143 0 6911 0 176223 0 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation Prior University Process: Compensation contingent upon revenues of related org human resources at New Mexico State University (NMSU) reviews and approves all salaries in accordance with the salary range of the individual. The human resources departments and the Chancellor of NMSU must approve the salary for the vice president of the university advancement, which by title also serves as the President of the New Mexico State Foundation (the "Foundation"). Direction and control of these individuals is maintained by NMSU. As such, these individuals do not meet the status of an employee of the foundation under the common law rules applicable in determining the employer/employee relationship. Based upon the Form 990 definitions of "Related Organization" NMSU is also not considered a related organization to the Foundation. The Board of Directors of the Foundation is not comprised of a majority of NMSUs Board of Trustees. Nor does the Foundation have the power to replace, appoint, elect, approve/Veto the appointment or election of, a majority of the Foundation's directors. During the calendar year 2022, the Foundation took over compensation of its employees and staff. Each year, we meticulously benchmark all positions within our organization using two national salary surveys sourced from medium-sized higher education foundations. This ensures that our total cash compensation, including salary and incentive compensation, remains at 75% of the national average. X 16 333963 Market value X Musical instruments 4 23700 Market value X Documentary materials 1 97200 Market value 2 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THIRD PARTY USED TO PROCESS NONCASH CONTRIBUTIONS. BROKERAGE FIRMS ARE USED TO SELL DONATED SECURITIES. Schedule M, Part I Explanations of reporting method for number of contributions Other - Musical instruments THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. Other - Documentary materials THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. Securities - Publicly traded - THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. Form 990, Part VI, Line 4 Significant changes to organizational documents During the year, the organization made the following significant change to the Bylaws: Officers of the Foundation, including the President, may be removed from office by a two-thirds (2/3) vote of the members of the Board of Directors present at any properly called meeting in which a quorum is present. Form 990, Part VI, Line 11b Review of form 990 by governing body A DRAFT OF THE ORGANIZATION'S FORM 990 IS EMAILED TO THE FOUNDATION'S CONTROLLER. AFTER REVIEW, THE RETURN IS FORWARDED TO THE AUDIT COMMITTEE FOR FURTHER REVIEW BEFORE FORWARDING IT TO THE BOARD MEMBERS FOR THEIR REVIEW AND APPROVAL. THE FORM 990 PROVIDED TO THE BOARD DOES NOT INCLUDE SCHEDULE B, AS SUCH, THIS QUESTION HAS BEEN ANSWERED NO IN ACCORDANCE WITH THE IRS INSTRUCTIONS. Form 990, Part VI, Line 12c Conflict of interest policy All Board Members are required to complete a Conflict-of-Interest Form on an annual basis. This process is actively monitored by the CEO and reported to and reviewed by the Foundation audit committee which has final approval for all actions deemed necessary. Every board meeting agenda includes a reminder for members to disclose any conflicts with agenda items before the agenda is approved. Any director or officer who has an interest in a contract, a non-passive investment, or other transaction presented to the Board of Directors or a committee thereof for authorization, approval, or ratification shall make a prompt and full disclosure of his or her interest to the Board of Directors or such committee before any action on such contract or transaction by the Board of Directors or such committee. Any individual who becomes aware of a potential conflict situation involving another director or officer is encouraged to bring such potential conflict to the attention of the Board of Directors (by communication to the Board in session or to a Board Member) or the applicable committee (by communication to the chairperson or any other member of the committee), since conflicts of interest may arise in varied contexts and may not be understood as a conflict by the conflicted individual. Form 990, Part VI, Line 15a Process to establish compensation of top management official Prior University Process: Compensation contingent upon revenues of related org human resources at New Mexico State University (NMSU) reviews and approves all salaries in accordance with the salary range of the individual. The human resources departments and the Chancellor of NMSU must approve the salary for the vice president of the university advancement, which by title also serves as the President of the New Mexico State Foundation (the "Foundation"). Direction and control of these individuals is maintained by NMSU. As such, these individuals do not meet the status of an employee of the foundation under the common law rules applicable in determining the employer/employee relationship. Based upon the Form 990 definitions of "Related Organization" NMSU is also not considered a related organization to the Foundation. The Board of Directors of the Foundation is not comprised of a majority of NMSUs Board of Trustees. Nor does the Foundation have the power to replace, appoint, elect, approve/Veto the appointment or election of, a majority of the Foundation's directors. During the calendar year 2022, the Foundation took over compensation of its employees and staff. Each year, we meticulously benchmark all positions within our organization using two national salary surveys sourced from medium-sized higher education foundations. This ensures that our total cash compensation, including salary and incentive compensation, remains at 75% of the national average. Form 990, Part VI, Line 15b Process to establish compensation of other employees Prior University Process: An agreement is in place with New Mexico State University to provide employee staff support to the Foundation. The staffing level, compensation and benefits of employees and other personnel matters are decided by the University. During the calendar year 2022, the Foundation took over compensation of its employees and staff. Each year, we meticulously benchmark all positions within our organization using two national salary surveys sourced from medium-sized higher education foundations. This ensures that our total cash compensation, including salary and incentive compensation, remains at 75% of the national average. The Board of Directors approves compensation recommendations based on these benchmarks during the annual budget approval. If individual salary recommendations fall outside of approved benchmarks they will be reviewed by the Executive Committee of the Board of Directors for approval. Final approval for a salary recommendation that is within an approved budget will come from the CEO. Form 990, Part VI, Line 19 Required documents available to the public THE NEW MEXICO STATE UNIVERSITY FOUNDATION, INC. MAKES ITS GOVERNING DOCUMENTS INCLUDING ITS ARTICLES OF INCORPORATION, ANNUAL REPORT, BYLAWS, ITS CODE OF CONDUCT POLICY, AND THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS FOR THE NEW MEXICO STATE UNIVERSITY FOUNDATION, INC. AND SUBSIDIARIES AVAILABLE TO THE PUBLIC UPON REQUEST, I.E., BY CONTACTING THE FOUNDATION'S CONTROLLER. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue License Plates - Total Revenue: 111671, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 111671; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Allowance on OWH - -8758557; Prior Period Adjustment - -203761; Change in Split Interest Agreement-Endowment - -295156; Change in Donor Restriction - -2299688; form 990, part vi, line 2 FAMILY/BUSINESS RELATIONSHIPS AMONGST INTERESTED PERSONS Bob Dintelman & Sue Dintelman - Both of these individuals are active Board members and married to each other. Jim Rhodes & Kyle Rhodes - Both of these individuals are active Board members and they are brothers. Kyle Louvar & Nicole Louvar - Both of these individuals are active Board members and married to each other. REAL ESTATE HOLDINGS OF NMSU FOUND 1305 N HORSESHOE DR LAS CRUCES NM 88003 REAL ESTATE NM 734561 4861991 NMSUF OUR WAY HOLDINGS I LLC 1305 N HORSESHOE DR LAS CRUCES NM 88003 INVESTING NM 0 0 NMSUF OUR WAY HOLDINGS II LLC 1305 N HORSESHOE DR LAS CRUCES NM 88003 INVESTING NM -5401982 26510242 NMSUF