Overview
What is New Mexico Baptist Foundation?
The New Mexico Baptist Foundation is a nonprofit organization dedicated to serving Baptist institutions, agencies, or enterprises, as well as benevolent, charitable, educational, or missionary undertakings. Located in Albuquerque, New Mexico, its primary goal is to support schools, hospitals, orphanages, and other enterprises operated by the Baptist Convention of New Mexico or the Southern Baptist Convention. The foundation aims to generate funds for kingdom causes worldwide and assists individuals, churches, and charities through the faithful stewardship of God's resources. It manages funds entrusted for the ongoing benefit of churches, missions, ministry, and charitable organizations. Additionally, the foundation offers resources for estate planning, charitable gift giving, endowment creation, scholarships, church finance, and compassion causes. With a team of 12 employees, the New Mexico Baptist Foundation seeks to fulfill its mission by providing support and guidance in various areas, ultimately benefiting the community and beyond.
Official website here: www.nmbf.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Star Rating)
The New Mexico Baptist Foundation has received an 85% rating from Charity Navigator, reflecting a strong performance in accountability and finance. This score is based entirely on their adherence to standards of transparency and governance, indicating that the organization operates with a high level of integrity and fiscal responsibility. The foundation boasts a fully independent board comprising ten members, and it shows no signs of material diversion of assets, which is a positive indicator of its operational health.
Strengths of the New Mexico Baptist Foundation include its exemplary program expense ratio of 74.76%, suggesting that a significant portion of its financial resources is directed towards fulfilling its mission. Additionally, it has demonstrated impressive fundraising efficiency with a cost of only $0.14 to raise each dollar. This efficiency underscores the foundation's ability to mobilize resources effectively while maintaining substantial working capital, which stands at a healthy ratio of 6.36 years.
While the foundation has strengths in its financial management and governance policies, it is essential for potential donors to consider the context of its operations. The overall rating, while good, indicates room for improvement in areas that could enhance its programmatic impact. Continued focus on expanding its outreach and services may further elevate its standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is New Mexico Baptist Foundation legitimate?
New Mexico Baptist Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Mexico Baptist Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $177,018
Professional Fundraising Fees: $0
Other Salaries and Wages: $466,199
For more financial information, click here
Official website here: www.nmbf.com
What is the mission statement of New Mexico Baptist Foundation?
The New Mexico Baptist Foundation's mission is to generate funds for global kingdom causes. They are dedicated to assisting individuals, churches, and charities making a difference worldwide, through the responsible management of God's resources. The foundation manages funds entrusted for the continuous benefit of churches, missions, ministries, and charitable organizations. Additionally, it offers resources for estate planning, charitable gifting, endowment creation, scholarships, church finance, and compassionate causes.
Official website here: www.nmbf.com
Who is the CEO of New Mexico Baptist Foundation?
Rick Breeden is the President of New Mexico Baptist Foundation.
Official website here: www.nmbf.com
What is the revenue of New Mexico Baptist Foundation?
New Mexico Baptist Foundation's revenue in 2022 was $2,609,401.
Official website here: www.nmbf.com
Who are the executives of New Mexico Baptist Foundation and what are their salaries?
The average compensation at New Mexico Baptist Foundation during 2022 was $53,601. There are 12 employees at New Mexico Baptist Foundation.
Here are 12 key members and their salaries:
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- Compensation: $177,019
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- Other: $54,700
Official website here: www.nmbf.com
Where can I find the form 990 for New Mexico Baptist Foundation?
New Mexico Baptist Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmbf.com
Learn more at the official website: www.nmbf.com
Mission Statement of New Mexico Baptist Foundation
The New Mexico Baptist Foundation is dedicated to fulfilling its mission of generating funds for kingdom causes worldwide. This organization is committed to assisting individuals, churches, and charities making a significant impact globally, through the responsible management of God's resources. Beyond managing funds entrusted for the ongoing benefit of churches, missions, ministries, and charitable organizations, the foundation also offers resources for estate planning, charitable gifting, endowment creation, scholarships, church finance, and compassion causes.
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Impact
July, 2024
The New Mexico Baptist Foundation's impact is felt through its mission to generate funds for kingdom causes around the world. By assisting individuals, churches, and charities in impacting the world through the faithful stewardship of God's resources, the foundation plays a crucial role in supporting churches, missions, ministry, and charitable organizations. Additionally, the foundation provides resources for estate planning, charitable gifting, endowment creation, scholarships, church finance, and compassion causes. Through these efforts, the New Mexico Baptist Foundation significantly contributes to the advancement of benevolent, charitable, educational, and missionary activities within the Baptist community both locally and globally.
This information is meant to be a general summary of New Mexico Baptist Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,036,292
- Program Service Revenue: $956,346
- Gross Receipts: $6,841,165
Assets and Liabilities:
- Total Assets: $49,118,538
- Total Liabilities: $37,874,573
- Net Assets: $11,243,965
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TRUST MANAGEMENT
Revenue
$632,346
MANAGEMENT SERVICES
Revenue
$324,000
Organization Details
Founding Year
1948
Phone
(505) 332-3777Principal Officer
Rick Breeden
Main Address
PO BOX 16560, ALBUQUERQUE, NM, 87191
Website
www.nmbf.comNTEE Category
Code: X21 - Religion related
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