New Mexico State University Foundation Inc. - Nonprofit of the Month August 2014

Aug 25th, 2014

DOVE HALL, ROOM 212, 1305 N. HORSESHOE DRIVE, P.O. BOX 3590, LAS CRUCES, NM 88003-3590 • 575-646-1613, 800-342-6678 • HTTP://FOUNDATION.NMSU.EDU

Mission:

New Mexico State University Foundation incThe mission of the New Mexico State University Foundation Inc. is to foster personal and corporate philanthropy, to continually excel in its fundraising performance, to be a prudent and productive steward of its endowments, and honor its profound fiduciary responsibility to its donors all within its commitment to proudly serve and assist New Mexico State University in becoming one of the nation’s pre-eminent universities and leading land-grant universities.

Purpose:

The New Mexico State University Foundation, Inc.

is a private 501(C)3 organization, tasked with raising private support for New Mexico State University.

Because New Mexico State University is a state­assisted, rather than a state-supported university, only 30 percent of New Mexico State University’s annual budget is covered by state appropriations. The appropriations are critically important, but it does not represent a significant portion of the university’s total operating budget. That is where private contributions from alumni and friends to the Foundation help New Mexico State University fulfill its mission of excellence in education, research and service.

Key goals:

The New Mexico State University Foundation Inc. exists to benefit New Mexico State University by collecting and maintaining private gifts that impact the university as a whole.

The New Mexico State University Foundation Inc.

inspires annual, major and planned giving; focusing on special-purpose campaigns when needed. By securing, managing and investing private gifts, the Foundation is able to benefit New Mexico State University’s teaching, research, extension education and public service programs. An important component of the foundation is the wise stewardship of resources. The pooled endowment fund managed by the New Mexico State University Foundation Inc. now totals nearly $140 million, and each year earnings from this fund combined with current use gifts provide $8.5 million to support a wide range of programs and scholarships at New Mexico State University. As a separately incorporated, nonprofit organization, the foundation is approved by the IRS as a charitable, tax-exempt organization and is registered with the New Mexico State Corporation Commission.

The foundation also utilizes an investment committee composed of members with expertise in banking and finance. This committee holds the foundation accountable and is responsible for determining the most favorable manner to invest and manage both the New Mexico State University and New Mexico State University Foundation Inc. endowment funds. This investment committee seeks to maintain a portfolio which promotes the growth of the fund’s principal while protecting against inflation.

History:

The New Mexico State University Foundation Inc. was chartered in 1959 and has existed throughout the decades solely to support the university by raising and managing private gift funds.

Key people to know:

Cheryl Harrelson is vice president for University Advancement and president of the New Mexico State University Foundation Inc.

Harrelson started at New Mexico State University May 1 with extensive higher education experience, serving at James Madison University and two different land-grant institutions. At Washington State University, she oversaw an annual giving program that raised $16.5 million in 2013, and she was involved in Washington State University’s $1 billion dollar campaign.

The New Mexico State University Foundation Inc.

board of directors is responsible for the management of the foundation. The board bears fiduciary responsibility for the investment and management of all funds raised by the foundation on behalf of NMSU. The board is comprised of approximately 40 members, including an executive committee consisting of: John Cordova, chairman; Nick Franklin, vice chairman; Jo Raabe-Asprey, past chair; Lee Ellen Banks, secretary; Brenda Porter, treasurer; and Cheryl Harrelson, president.

Events and activities:

The annual New Mexico State University Estate Planning Conference for Women with curriculum that offers the fundamentals of financial and estate planning, including wills and trusts, asset protection, taxes, charitable giving, elder law and money management.

The New Mexico State University Pioneers founded by former New Mexico State University President Gerald Thomas and others. Its membership is open to those New Mexico State University faculty and staff (and their spouses) who have had at least 20 years of employment service at New Mexico State University and to all former employees (and their spouses) who have retired. The Pioneers hold three board meetings and three luncheons (Pioneer Days) each year, among other events.

Each year President’s Associates Scholars are welcomed with a new student orientation and a brunch in the fall and a picnic in the spring.

Future plans:

The New Mexico State University Foundation, Inc. will continue assisting alumni and friends of the university as they achieve their philanthropic goals, while working with academic deans and other administrators to align goals with the priorities of the university. The New Mexico State University Foundation Inc. will focus on both comprehensive and strategic annual and long-term giving strategies, providing support to New Mexico State University and the students.

A key future goal for the New Mexico State University Foundation Inc. is to engage community, parents, students, faculty and staff. The increased engagement will include advancement professionals becoming more involved within the community. While many advancement professionals within the foundation are actively involved in the community, their known presence will increase.

Because the New Mexico State University Foundation Inc. was established to facilitate the university’s mission, the uoundation’s major initiative, a comprehensive campaign, will be planned under the leadership of Vice President of University Advancement Cheryl Harrelson and New Mexico State University President Garrey Carruthers.

The importance of private giving to New Mexico State University is on-going. These funds will enable the university to expand its land grant mission of teaching, research and public service.