New Mexico Baptist Foundation

Nonprofit profile at a glance

EIN
850158371
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Albuquerque, NM, USA
Phone
5053323777
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Official website

Reported finances

Revenue
$2,739,380
Expenses
$1,864,160
Assets
$71,062,438
Liabilities
$56,221,293

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • RICK BREEDEN (PRESIDENT)

Highest reported compensation

  • RICK BREEDEN (PRESIDENT): $414,636 total reported compensation
  • DAYNA MELVIN (CFO): $156,071 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The New Mexico baptist foundation seeks to fulfill its mission to generate funds for kingdom causes around the world. We are committed to assisting individuals, churches, and charities impacting the world through the faithful stewardship of god's resources. The foundation manages funds entrusted for the ongoing benefit of churches, missions, ministry, and charitable organizations. In addition, the foundation provides resources for estate planning, charitable gifting, endowment creation, scholarships, church finance, and compassion causes.

What it reported doing in 2025

The general purpose of the New Mexico baptist foundation (foundation) shall be to serve any baptist institution, agency, or enterprise or any benevolent, charitable, educational or missionary undertaking, institution or agency fostered by or having the official sanction of the baptist convention of New Mexico, or the southern baptist convention. Such conjoined purposes to be executed simultaneously in the furtherance of the development of benevolent, charitable, educational and missionary activities in, and for the benefit of, schools, hospitals, orphanages and other enterprises operated as baptist institutions or under the supervision of the baptist convention of New Mexico or the southern baptist convention, or for any charitable purpose when a part of the income of a particular trust shall be for the purpose herein above stated, and to such end may recieve by bequest, devise, gift, purchase or lease, either absolutely or in trust, any real or personal property. To convey such property, to invest and reinvest the same of the proceeds thereof, in such manner as in the judgment of the board of directors will best promote such objectives. To make distributions of income and principal in accordance with the directions of the donor, grantor or testator. In the absence of such direction, such distributions shall be made at the discretion of the board of directors of the foundation to an institution or agency of the baptist convention of New Mexico.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 67
  • Accountability: 100
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.2%; rating input score 42
  • Program expense ratio: 58.7%; rating input score 59
  • Fundraising efficiency: $0.86 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 21st percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 31.9%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 38.12; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 30.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 42.2% of revenue deployed · 58.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $415K · 13 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.