Overview
What is New Mexico Military Institute Foundation Inc?
The New Mexico Military Institute Foundation Inc, located in Roswell, New Mexico, is a nonprofit organization with a primary mission to support the New Mexico Military Institute (NMMI) through an endowment fund. This fund is utilized for various purposes, including research, facility enhancement, and providing scholarships to NMMI cadets at both high school and junior college levels. The scholarships come with varying criteria set by the donors, and a significant number of cadets receive financial assistance each year. The Foundation, managed by a Scholarship Committee, plays a crucial role in aiding nearly 98% of junior college cadets and over 85% of high school cadets with scholarships. The Foundation's endowment funds provided scholarships to 329 cadets in the 2022-2023 academic year and is estimated to support 350 cadets in the upcoming 2023-2024 school year. With a maximum capacity of 1,000 cadets, the New Mexico Military Institute Foundation Inc plays a significant role in the educational journey of many cadets.
Official website here: www.nmmi.edu/foundation
Is New Mexico Military Institute Foundation Inc legitimate?
New Mexico Military Institute Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Mexico Military Institute Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $124,342
Professional Fundraising Fees: $0
Other Salaries and Wages: $59,369
For more financial information, click here
Official website here: www.nmmi.edu/foundation
What is the mission statement of New Mexico Military Institute Foundation Inc?
The New Mexico Military Institute Foundation's mission is centered around supporting the New Mexico Military Institute (NMMI). Their primary goal is to establish and manage an endowment fund, which is intended for use in various areas. These include conducting research, advancing scientific and literary pursuits, enhancing NMMI's infrastructure, providing scholarships, and generally contributing to the institute's growth, welfare, and maintenance. The Foundation's activities are geared towards benefiting NMMI and fostering its development.
Official website here: www.nmmi.edu/foundation
Who is the CEO of New Mexico Military Institute Foundation Inc?
Jimmy Barnes is the President & Ceo of New Mexico Military Institute Foundation Inc. The CEO's salary of New Mexico Military Institute Foundation Inc is $111,860 and their total compensation is $111,860.
Official website here: www.nmmi.edu/foundation
What is the revenue of New Mexico Military Institute Foundation Inc?
New Mexico Military Institute Foundation Inc's revenue in 2023 was $8,432,637.
Official website here: www.nmmi.edu/foundation
Who are the executives of New Mexico Military Institute Foundation Inc and what are their salaries?
The average compensation at New Mexico Military Institute Foundation Inc during 2023 was $91,856. There are 2 employees at New Mexico Military Institute Foundation Inc.
Here are 14 key members and their salaries (New Mexico Military Institute Foundation Inc's CEO's salary is $111,860 and their total compensation is $111,860):
- Jimmy Barnes (President & Ceo) [Trustee/Director]
- Jesus Salazar (Immediate Past Chairman) [Trustee/Director]
- Kenneth Barbe Jr (Chairman) [Trustee/Director]
- Dr Jesus R Ramos Garza (Secretary) [Trustee/Director]
- Kim Greaves (Vice Chairman) [Trustee/Director]
- Kevin O Butler (Member) [Trustee/Director]
- Harold A Edmonson Jr (Nmmi Regent Member) [Trustee/Director]
- Phelps W Anderson (Nmmi Regent Member) [Trustee/Director]
- Mg Jerry Grizzle Nmmi President Sup (Ex Officio Member) [Trustee/Director]
- Claire E Chase (Member) [Trustee/Director]
- Dr Earl A Tres Latimer Iii (Member) [Trustee/Director]
- Col Timothy S Paul (Nmmi Regent Appointment) [Trustee/Director]
- George M Yates (Member) [Trustee/Director]
- Frank Spencer Iii (Treasurer) [Trustee/Director]
Official website here: www.nmmi.edu/foundation
Where can I find the form 990 for New Mexico Military Institute Foundation Inc?
The New Mexico Military Institute Foundation Inc’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.nmmi.edu/foundation
Learn more at the official website: www.nmmi.edu/foundation
Mission Statement of New Mexico Military Institute Foundation Inc
The New Mexico Military Institute Foundation, Inc. (Foundation) is committed to supporting the growth, welfare, and maintenance of the New Mexico Military Institute (NMMI). This nonprofit organization aims to achieve this mission by creating, maintaining, and administering an endowment fund. This fund is intended for various purposes, including research and scientific endeavors, enhancing the institute's facilities, providing scholarships, and promoting the overall development of NMMI. In essence, the Foundation's mission is to contribute to the betterment of NMMI, ensuring its continued success and ability to provide quality education and opportunities to its students.
Impact
This information is meant to be a general summary of New Mexico Military Institute Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
New Mexico Military Institute Foundation Inc's impact is significant in supporting the educational endeavors of New Mexico Military Institute (NMMI) cadets. Through its extensive endowment fund and annual donor scholarship funds, the Foundation provides financial assistance to cadets at both the high school and junior college levels. This support is crucial in enabling cadets to pursue their academic goals and further their education.
With over 170 endowed scholarship funds and more than 20 annual donor scholarship funds, the Foundation plays a key role in ensuring that a large percentage of NMMI cadets receive some form of financial assistance. In the 2022-2023 school year, 329 cadets benefited from scholarships provided by the Foundation, and this number is expected to increase to 350 for the 2023-2024 school year.
By facilitating the fair and impartial granting of scholarships in accordance with NMMI policies and donor stipulations, the Foundation helps ensure that deserving cadets have access to the financial support they need to succeed. This support not only benefits the individual cadets but also contributes to the overall growth, welfare, and maintenance of NMMI.
In summary, the impact of the New Mexico Military Institute Foundation Inc is evident in the tangible support it provides to NMMI cadets through scholarship funding, ultimately helping them pursue their academic aspirations and contribute positively to their educational institution.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Columbarium revenue
Revenue
$6,280
Organization Details
Founding Year
1945
Phone
(575) 624-8035
Principal Officer
Jimmy Barnes
Main Address
101 W College Blvd, Roswell, NM, 88201
Website
www.nmmi.edu/foundation
NTEE Category
Code: B90 - Education
If you are a representative of New Mexico Military Institute Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.