State Bar of New Mexico

What it reported doing in 2024

Office of general counsel and regulatory programs the office of general counsel is a professional office that assists the state bar and the foundation with policy and regulatory functions of an integrated bar. Specifically, its functions are to protect the legal and policy interests of the state bar; assist in governance and regulatory functions; provide a professional legal resource for leadership, volunteers, and staff; assist with outreach to the judiciary; and advise in the areas of legislative, executive, and judicial processes. In addition, the office of general counsel oversees the administration of the access to justice fund (atj) and the client protection fund (cpf). The state bar's atj fund grant commission is the financial steward of the New Mexico supreme court fund for the atj fund, for which the state bar is the fiscal agent. The atj fund consists of funds generated pursuant to supreme court rule, including interest on lawyer's trust accounts (iolta) and pro hac vice fees, as well as donations. The atj fund provides grants to qualified civil legal service providers selected by the atj fund grant commission. The state bar is also the iolta program administrator for New Mexico. An iolta account is a pooled, interest-bearing demand deposit account used by lawyers to hold client funds. The current rules require that all New Mexico attorneys who hold eligible funds to participate in iolta and that the funds be held at eligible financial institutions. The interest generated by the client funds held in a pooled, interest-bearing trust account are remitted to the state bar, which holds the funds in the atj fund and distributes them at the discretion of the New Mexico supreme court and the atj fund grant commission. The commission on client protection is a statewide body whose purpose is to promote public confidence in the administration of justice and the integrity of the legal profession by reimbursing losses caused by the dishonest conduct of lawyers admitted and licensed to practice law in the courts of New Mexico. The funds in the client protection fund are used for reimbursing these losses. The office of general counsel and regulatory programs also oversees the licensing of New Mexico admitted attorneys and nonadmitted attorneys wishing to appear before a New Mexico court in a civil matter, who are charged pro hac vice filing fees.

Financial Efficiency

• Mission deployment rate: 73.2%; rating input score 73
• Program expense ratio: 76.1%; rating input score 76
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
• Total-asset coverage ratio: 2.31; rating input score 66; 66th percentile among comparable filings
• Liabilities to assets ratio: 0.74; rating input score 12; 12th percentile among comparable filings
• Officer compensation ratio: 15.6%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 14% per year; rating input score 100; 76th percentile among comparable filings
• Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 5.9% per year; rating input score 100; 39th percentile among comparable filings