New Mexico Community Foundation
Nonprofit profile at a glance
- EIN
- 850311210
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Santa Fe, NM, USA
- Phone
- 5058206860
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $34,879,228
- Expenses
- $11,243,437
- Assets
- $60,771,649
- Liabilities
- $5,930,480
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- JOANN MELCHOR (PRESIDENT AND CEO)
Highest reported compensation
- PHILLIP VARNUM (FINANCE DIRECTOR): $117,903 total reported compensation
- JOANN MELCHOR (PRESIDENT AND CEO): $99,101 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To steward community resources, build partnerships, and create opportunities that transform lives throughout New Mexico.
What it reported doing in 2024
Grants - nmcf pools resources to support New Mexico's most underserved communities, strengthen New Mexico's nonprofits, and grow philanthropy - especially in rural New Mexico. We connect donors to valuable projects and vulnerable communities, and work to be responsive to current, and often urgent, community needs. Nmcf initiated and ran philanthropic programs and activities that addressed issues that ranged from rural economies and promoting native leadership to ensuring equality for women and families. Nmcf did this by building relationships with community leaders, nonprofits, donors and partner foundations to create greater opportunity and prosperity in New Mexico. Through these partnerships, we awarded grants to develop new initiatives or support existing programs.
Operating model
- Revenue model
- Donor-supported. 89% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.
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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 85
- Accountability: 91
- Sustainability: 89
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 31.4%; rating input score 31
- Program expense ratio: 89.6%; rating input score 90
- Fundraising efficiency: $2,437.25 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings
Transparency & Controls
- Consistency checks: 87.5%; rating input score 88; 2nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 93.5%; rating input score 93; 23rd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 67.8%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 5.41; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 74; 74th percentile among comparable filings
- Officer compensation ratio: 1.9%; rating input score 77; 77th percentile among comparable filings
Growth
- Program expense growth: 12.8% per year; rating input score 100; 79th percentile among comparable filings
- Revenue growth: 14.7% per year; rating input score 100; 86th percentile among comparable filings
- Asset growth: 6.5% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 31.4% of revenue deployed · 89.6% of spending went to programs
- Governance: 8 of 8 board members independent · 7 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $10.1M in reported program spending
- Leadership: top reported pay $118K · 11 people listed
- Highest-paid contractors: 1 contractor listed · $111K reported
- Consistency: 32 of 34 current checks pass · 2 findings to review
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 9 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 65 filed money-flow records
- Related organizations: 62 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.