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New Mexico State University & Foundation Endowment Fund

Name: New Mexico State University & Foundation

Assets Under Management: $163.3 Million (Source: New Mexico State University on 6/30/2013)

Annual Report: New Mexico State University Foundation, Inc. and Subsidiaries Consolidated Financial Statements For the Years Ended June 30, 2013 & 2012

Portfolio Insights: “New Mexico State University Foundation, Inc. and its Subsidiaries (Foundation) is a nonprofit corporation established to acquire and manage charitable gifts, including endowed funds, to be used solely for the benefit of New Mexico State University (University). The Foundation is exempt from Federal income taxes under Internal Revenue Code section 501(c)(3). The Foundation is reported in the University’s financial statements as a discretely presented component unit. Basis of Presentation. The Consolidated Financial Statement.

Hedge Fund and Venture Capital Investments, which arenot readily marketable, arecarried at estimated fairvalues. Fair value is based upon information provided by the management of each Fund, including audited financial statements and any other relevant factors. Because of the absence of a readily determinable fair value and the inherent uncertainty of valuation, the estimated fair value may differ significantly from the value that would have been used had a ready market for the investment existed, and the difference could be material. These investments are not immediately redeemable at the reporting date. These investments have significant unobservable inputs and are classified within Level 3 of the valuation hierarchy.” (Source)

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Top New Mexico State University & Foundation Endowment Fund Headlines:

1) Aug 25, 2014 – 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. (Source)

2) Apr 5, 2006 – Successful alumni, charitable corporations and millionaire friends are helping New Mexico State University accomplish its fund-raising goals. In February, the university’s endowment fund exceeded $100 million for the first time in its 34-year history, said Rebecca Dukes the vice president of the NMSU Foundation — the nonprofit that handles public and private financial contributions received by the university.

“The endowment has never been this big,” said Dukes. “It was accomplished through increased contributions, but also through prudent investment and smart money managing.” Last October, the foundation launched the public phase of the “Doing What Counts” fund-raising campaign, with a goal of $150 million by 2010. (Source)

3) New Mexico State University will celebrate Black History Month with a number of events scheduled throughout the month of February.

“It is essential to celebrate Black History Month because it is important to celebrate civil rights, which actually is human rights for all people,” director of Black Programs, Festus Addo-Yobo said. “It is the reminder of our history from the past, present and what we envision for the future. America must know or acknowledge the contributions of Black America by increasing the appreciation of African-American heritage and history.”

The NMSU series of events celebrating Black History Month includes guest speakers, a fashion show and dance competitions, an open mic show and more. All events during the celebration will be free. (Source)

4) Dr. Garrey Carruthers is the current President of New Mexico State University. He has extensive experience in both the public and private sector. In his public life, Carruthers served as a Special Assistant to the U.S. Secretary of Agriculture, was an Assistant U.S. Secretary of the Interior, and served as Governor of New Mexico. In business, he was the President and CEO of the Cimarron Health Plan for over a decade. Carruthers earned his bachelor’s and master’s degrees at NMSU and received his doctorate in economics at Iowa State University in 1968. (Source)

5) The Office of the VPED is NMSU’s primary resource for statewide economic development and wealth creation. We work to connect off-campus partners with NMSU’s considerable research, technical, and professional expertise – to be a “problem solver” for New Mexico.

In 2012, VPED Carruthers led the creation of a Strategic Business Plan, outlining strategies for economic success for the university and state by creating a talented, entrepreneurial workforce; moving NMSU research innovations into the marketplace; and attracting new business and industry representatives to join NMSU’s pool of commercial partners. (Source)

About Richard C. Wilson