The New Mexico Baptist Foundation

Analysis

The New Mexico Baptist Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in August 1968, 58 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The New Mexico Baptist Foundation reported income of $2.5m and spending of $2.6m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.5m (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2022, when income rose by 45%. Over the whole period it spent 86% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, The New Mexico Baptist Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NM. Charities of a similar size with the same main cause include Cornerstone Missions Inc ($2.5m), Dream Center Evansville ($2.5m) and Cornerstone International Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $279k (11% of expenses). Other salaries and wages came to $542k. At year end it held assets of $55.5m against liabilities of $42.6m, net assets of $12.9m. It reported 11 employees.