The Credit Union Foundation of New Mexico Inc

Analysis

The Credit Union Foundation of New Mexico Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Credit Union Foundation of New Mexico Inc reported income of $497k and spending of $271k, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $281k to $497k (+77%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 91%. Over the whole period it spent 46% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Credit Union Foundation of New Mexico Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within NM. Charities of a similar size with the same main cause include Norfolk Area United Way Inc ($497k), Treasury Institute of Higher Education Inc ($498k) and Fifth C Foundation Inc ($497k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 2.0% of the total. At year end it held assets of $3.9m against liabilities of $1.2m, net assets of $2.7m.