As a 501c3 organization, the New Mexico Highlands University Foundation is a separate but supporting organization of the New Mexico Highlands University. This means that the Foundation accepts donations that are used to support the University on a variety of ways, but can only direct its support to itself, the Foundation, or the organization it supports, the University.
Our Board of Directors oversees the management and financial decision-making of the NMHU Foundation, and our Alumni Board of Directors acts in an advisory capacity to the Foundation, representing the views and feedback of our proud NMHU alumni.
A one percent management fee is charged by the Foundation on the permanent endowed funds. Then the allocation formula is used to calculate the amount available to award out as scholarships. The fee is used to pay for the Awardspring program used to award out the Foundation’s scholarships. It is also used for the general operating unrestricted expenses. No other fees are charged to endowed funds due to our partnership with the New Mexico State Investment Council. The Highlands Foundation provides an annual report to each permanent endowed fund holder, and also provides reporting upon request.
Note: All performance figures of the NMHU Foundation Endowment are net of expenses.
MANAGEMENT AND ADMINISTRATION ASSESSMENT
The NMHU Foundation contracts with New Mexico State Investment Council for asset management and administration of its planned gift assets.
These planned gift assets include Charitable Gift Annuities, Charitable Remainder Trusts, Charitable Lead Trusts. The assessments for NMHU Foundation and New Mexico State Investment Council’s service are charged to the appropriate trust or annuity pool directly.
Assessments are charged against the gift annuity pool or trust principal, respectively. New Mexico State Investment Council invests in mutual funds, and the mutual fund expense ratios are a separate assessment charged to the gift annuity pool or trust principal.