EIN 85-6010718

New Mexico Military Institute Foundation (NMMIF)

IRS 501(c) type
501(c)(3)
Num. employees
2
City
Roswell
Year formed
1945
Most recent tax filings
2023-06-01
Description
To create, maintain and administer an endowment fund for the benefit of NMMI to be used for research, scientific and literary purposes, for increasing the building, equipment and other facilities of NMMI.
Also known as...
NMMI Foundation
Total revenues
$8,432,637
2023
Total expenses
$2,704,733
2023
Total assets
$78,678,506
2023
Num. employees
2
2023

Program areas at NMMIF

The NMMI Foundation maintains over 170 endowed scholarship funds and over 20 annual donor scholarship funds for the benefit of NMMI cadets. Earnings from the endowments and annual donations are paid directly to NMMI to provide scholarships to NMMI cadets at the high school and junior college level. The scholarships have varying criteria specified by the donors; for example scholarships may include merit-based and/or need-based requirements. NMMI has established a Scholarship Committee that facilitates the fair and impartial granting of all scholarships in accordance with NMMI policies and procedures and donor stipulations. NMMI estimates that nearly 98% of cadets in the junior college program receive some form of financial assistance, which includes scholarship funding. Nearly 85% of the high school cadets receive some scholarship assistance. NMMI's maximum capacity is about 1,000 cadets. 329 cadets received scholarships from Foundation provided funds in the 2022-2023 school year. It is estimated that 350 cadets will receive scholarships during the 2023-2024 school year.
The NMMI Foundation maintains one endowment and a booster club fund whereby earnings and annual donations are used to provide support for NMMI athletic programs. Expenditures for these programs include support for sports teams apparel, equipment, supplies, hosting of a bowl game and other related athletic expenditures.
The NMMI Foundation maintains approximately 20 endowments whereby earnings are used to fund NMMI Leadership Reaction Course programs, Low/High Ropes Course facilities and general Leadership projects and activities. The Daniels Leadership Center (DLC) serves generally over 900 cadets each year through use of state of the art technologies and classrooms. Programs and services are provided to internal and external constituencies and include the Low/High Ropes Course and the Leadership Reaction Course which provide leadership challenges and growth to both cadets and professionals. These facilities help build self confidence, trust and teamwork in challenges that teach, test and reinforce sound leadership practices. These facilities are used to train generally over 900 cadets annually with over 600 cadets using the facilities multiple times throughout the school year. Over 100 participants from the community and over 500 youth throughout the state use the facilities annually.
Other program services support was used for NMMI academic programs, cadet activities, institutional advancement, faculty and staff programs, recruiting and admissions programs, alumni relations support and real property purchases.

Who funds New Mexico Military Institute Foundation (NMMIF)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
The Waterhouse Charitable TrustSupport School Scholarships$69,000
Bill Stroecker FoundationScholarships$62,000
The Toles Family FoundationDonation$33,000
...and 3 more grants received

Personnel at NMMIF

NameTitleCompensation
Jimmy BarnesPresident and Chief Executive Officer$111,860
Jesus SalazarImmediate Past Chairman$0
Kim GreavesVice Chairman$0
Jesus R Ramos GarzaSecretary$0
Kenneth BarbeChairman$0
...and 4 more key personnel

Financials for NMMIF

RevenuesFYE 06/2023
Total grants, contributions, etc.$3,049,994
Program services$6,280
Investment income and dividends$627,888
Tax-exempt bond proceeds$0
Royalty revenue$23
Net rental income$364,998
Net gain from sale of non-inventory assets$4,378,815
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$4,639
Total revenues$8,432,637

Form 990s for NMMIF

Fiscal year endingDate received by IRSFormPDF link
2023-062023-11-03990View PDF
2022-062022-11-04990View PDF
2021-062021-11-04990View PDF
2020-062022-01-05990View PDF
2019-062020-02-13990View PDF
...and 9 more Form 990s
Data update history
December 31, 2023
Posted financials
Added Form 990 for fiscal year 2023
December 31, 2023
Updated personnel
Identified 1 new personnel
December 24, 2023
Received grants
Identified 4 new grant, including a grant for $69,000 from The Waterhouse Charitable Trust
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 6, 2023
Updated personnel
Identified 2 new personnel
Nonprofit Types
School foundationsGrantmaking organizationsCharities
Issues
Education
Characteristics
Funds one specific organizationProvides grantsLobbyingOperates internationallyState / local levelEndowed supportCommunity engagement / volunteeringTax deductible donations
General information
Address
101 W College Blvd
Roswell, NM 88201
County
Chaves County, NM
Website URL
nmmi.edu 
Phone
(575) 624-8035
IRS details
EIN
85-6010718
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1945
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B11: Education Single Organization Support
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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