NMSU Foundation
Legal name: New Mexico State Univ Fdn Inc
Nonprofit profile at a glance
- EIN
- 850170157
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Las Cruces, NM, USA
- Phone
- 575-201-9023
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $56,722,856
- Expenses
- $26,298,054
- Assets
- $468,504,588
- Liabilities
- $106,547,304
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
47 people listed
Executive titles in this filing
- Sylvia Acosta (Chief Executive Officer)
- James Covington (Executive Director - Estates and Planned Giving)
Highest reported compensation
- Sylvia Acosta (Chief Executive Officer): $579,095 total reported compensation
- David Strong (Former Chief Financial Officer): $386,168 total reported compensation
- Susan Sorenson-Clark (Director of Talent and Culture): $297,176 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 support scholarships, programs and opportunities that advance NMSU's land‑grant mission and create lasting impact for Aggies.
What it reported doing in 2024
In FY25, New Mexico State University Foundation advanced its mission to support academic excellence, research innovation, and student success across the NMSU system. Through the generosity of donors and strategic stewardship of resources, the Foundation raised and managed funds that directly enriched the educational experience for thousands of students and bolstered the university's land-grant mission to serve the diverse communities of New Mexico. This year, the Foundation facilitated over $4.35 million in scholarship support, alleviating financial barriers for more than 2,850 students and ensuring access to higher education for many first-generation and underrepresented learners. In collaboration with campus partners, we supported faculty research, expanded experiential learning opportunities, and funded capital improvements to enhance campus facilities - including laboratories, student support centers, and cultural hubs. The Foundation also launched initiatives to deepen alumni engagement and community partnerships, hosting events and campaigns that celebrated Aggie pride and inspired lifelong investment in NMSU's future. Our donor relations efforts maintained a high standard of transparency and accountability, helping to sustain long-term philanthropic relationships critical to the university's growth and resilience. Through these efforts, the NMSU Foundation continues to serve as a vital engine for transforming lives and empowering the next generation of leaders in New Mexico and beyond.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The nonprofit sent 81% of its reported program spending out as grants.
- 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 the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 53
- Transparency & Controls: 69
- Accountability: 95
- Sustainability: 82
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54.8%; rating input score 55
- Program expense ratio: 64%; rating input score 64
- Fundraising efficiency: $3.09 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 77th 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; 77th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 53.6%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 17.82; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 65; 65th percentile among comparable filings
- Officer compensation ratio: 10.9%; rating input score 2; 2nd percentile among comparable filings
Growth
- Program expense growth: 6.4% per year; rating input score 100; 52nd percentile among comparable filings
- Revenue growth: 10.6% per year; rating input score 100; 79th percentile among comparable filings
- Asset growth: 8.5% per year; rating input score 100; 62nd percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 54.8% of revenue deployed · 64% of spending went to programs
- Governance: 35 of 35 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $16.8M in reported program spending
- Leadership: top reported pay $579K · 47 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.6M reported
- Consistency: 34 of 34 current checks pass
- Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 11/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 2/100.