Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $555,301

• 1c · Fundraising events

  $101,850

• 1f · All other contributions, gifts and grants

  $9,573,585

• 1g · Noncash contributions included above

  $454,863

• 2a · Program service revenue: NMSU Management Fee

  total $4,475,664 · related or exempt $4,475,664

• 2b · Program service revenue: Membership Dues

  total $165,513 · related or exempt $165,513

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,505,826 · unrelated business $8,394,907 · excluded -$4,889,081

• 5 · Royalties

  total $15,519 · excluded $15,519

• 6a · Gross rents

  real property $829,375

• 6b · Less rental expenses

  real property $318,541

• 6c · Rental income or loss

  real property $510,834 · personal property $0

• 6d · Net rental income or loss

  total $510,834 · excluded $510,834

• 7a · Gross sales of assets other than inventory

  securities $159,275,352 · other assets $800

• 7b · Less cost or other basis and sales expenses

  securities $160,146,849 · other assets $20,280

• 7c · Gain or loss

  securities -$871,497 · other assets -$19,480

• 7d · Net gain or loss

  total -$890,977 · excluded -$890,977

• 8a · Fundraising events: gross income

  $107,505

• 8a · Fundraising events: contributions included on line 1c

  $101,850

• 8b · Fundraising events: direct expenses

  $84,789

• 8c · Net income from fundraising events

  total $22,716 · excluded $22,716

• 11a · Other revenue: Non-gift Revenue

  total $484,426 · excluded $484,426

• 11b · Other revenue: Reimbursements

  total $216,450 · excluded $216,450

• 11c · Other revenue: Other Revenue

  total $165,242 · excluded $165,242

• 11d · All other revenue

  total $111,671 · related or exempt $0 · unrelated business $0 · excluded $111,671

• 11e · Other revenue, total

  $977,789

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $15,955,375 · program services $15,955,375

• 5 · Compensation of officers, directors and key employees

  total $1,265,383 · management and general $589,310 · fundraising $676,073

• 7 · Other salaries and wages

  total $3,430,495 · management and general $826,964 · fundraising $2,603,531

• 8 · Pension plan contributions

  total $482,603 · management and general $108,290 · fundraising $374,313

• 9 · Other employee benefits

  total $252,981 · management and general $151,095 · fundraising $101,886

• 10 · Payroll taxes

  total $262,433 · management and general $63,263 · fundraising $199,170

• 11b · Fees: legal

  total $132,909 · management and general $57,400 · fundraising $75,509

• 11c · Fees: accounting

  total $49,888 · management and general $49,888

• 11g · Fees: other

  total $430,161 · program services $0 · management and general $223,348 · fundraising $206,813

• 12 · Advertising and promotion

  total $70,233 · fundraising $70,233

• 13 · Office expenses

  total $238,913 · management and general $147,777 · fundraising $91,136

• 14 · Information technology

  total $284,187 · management and general $201,278 · fundraising $82,909

• 16 · Occupancy

  total $560 · management and general $560

• 17 · Travel

  total $496,100 · management and general $94,650 · fundraising $401,450

• 22 · Depreciation, depletion and amortization

  total $5,807 · management and general $5,807

• 23 · Insurance

  total $52,839 · management and general $52,839

• 24a · Other expenses: Other expenses

  total $277,189 · management and general $277,189

• 24b · Other expenses: OWH other expenses

  total $220,661 · management and general $220,661

• 24c · Other expenses: Candidate Search

  total $181,034 · management and general $63,445 · fundraising $117,589

• 24d · Other expenses: Publications

  total $96,397 · management and general $399 · fundraising $95,998

• 24e · All other expenses

  total $107,559 · program services $0 · management and general $66,925 · fundraising $40,634

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,509,603 · end of year $11,332,294

• 2 · Savings and temporary cash investments

  beginning of year $322,239 · end of year $292,824

• 3 · Pledges and grants receivable

  beginning of year $9,510,967 · end of year $6,554,552

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $271,577 · end of year $26,403,941

• 8 · Inventories for sale or use

  beginning of year $4

• 9 · Prepaid expenses and deferred charges

  beginning of year $198,955 · end of year $218,248

• 10a · Land, buildings and equipment: cost or other basis

  $5,184,300

• 10b · Land, buildings and equipment: accumulated depreciation

  $578,809

• 10c · Land, buildings and equipment, net

  beginning of year $3,562,371 · end of year $4,605,491

• 12 · Investments: other securities

  beginning of year $284,923,398 · end of year $333,904,797

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $48,239,403 · end of year $1,069,922

• 17 · Accounts payable and accrued expenses

  beginning of year $0 · end of year $418,324

• 19 · Deferred revenue

  beginning of year $350,413 · end of year $334,425

• 21 · Escrow or custodial account liability

  beginning of year $34,491 · end of year $34,491

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $50,764,434 · end of year $83,259,095

• 27 · Net assets without donor restrictions

  beginning of year $18,118,686 · end of year $96,724,472

• 28 · Net assets with donor restrictions

  beginning of year $283,270,493 · end of year $203,611,262

The filer's explanations (Part III)

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• REAL ESTATE HOLDINGS OF NMSU FOUND

  REAL ESTATE · NM · income $734,561 · assets $4,861,991

  Directly controlled by NMSUF

• OUR WAY HOLDINGS I LLC

  INVESTING · NM · income $0 · assets $0

  Directly controlled by NMSUF

• OUR WAY HOLDINGS II LLC

  INVESTING · NM · income -$5,401,982 · assets $26,510,242

  Directly controlled by NMSUF