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Financial Information
The
New Mexico Military Institute Foundation
acts in a fiduciary capacity in
maintaining the funds received and
expended for the benefit of NMMI.
For investment purposes, all funds
donated to the various permanent
endowments of the Foundation are placed
in a pooled investment fund and managed
therein.
The
managed funds of the Foundation exist to
provide long-term support to NMMI.
Accordingly, the investment philosophy
of the Foundation is based on a
disciplined, consistent, and diversified
approach utilizing multiple asset
classes and multiple managers. The
managed funds of the Foundation will be
considered a total return fund where
returns are sought from market
appreciation and from interest and
dividends.
The Foundation
intends to spend annually, for the
benefit of NMMI, 5% of the average value
of its pooled investment ending value
calculated over the prior 12 quarters.
Annual
Audit
The financial
statements of the Foundation are audited
annually by an independent firm of
Certified Public Accountants.
Click here for the most recent audited
financial statements.
Form 990
The following PDF
files contains the most recent tax
returns for the NMMI Foundation:
Operations
and Program Services
The
Foundation’s primary annual operating
revenue comes from rental income from
ground leases and earnings from
investments that were established from
the proceeds of real estate sales.
The
Foundation was created to conduct
program services that are primarily
those activities which form the basis
for its exemption from tax.
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