New Mexico Educational Assistance Foundation

Analysis

New Mexico Educational Assistance Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in November 1981, 45 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Mexico Educational Assistance Foundation reported income of $18.7m and spending of $13.5m, leaving 28% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $24.9m to $18.7m (-25%), an average of -6.9% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Mexico Educational Assistance 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 97th percentile, and in the 98th percentile within NM. Charities of a similar size with the same main cause include Paul Cuffee School ($18.7m), University of the People ($18.7m) and Northwest Indian Colleges ($18.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $786k (5.8% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $288.4m against liabilities of $182.3m, net assets of $106.1m. It reported 65 employees.