The Foundation reported its second-highest fundraising year on record, while Regent Deborah Romero asked for details on allocations, awards and scholarships supported by donor money

Damien Willis, Organ Mountain News

LAS CRUCES - The New Mexico State University Foundation raised more than $52.5 million during the past fiscal year — its second-highest fundraising total on record — but one member of the university’s Board of Regents wants to see more about what happens after the money comes in.

During the Board of Regents’ Aug. 18 meeting, Foundation officials reported raising $52,586,649 through June 30, reaching 216% of the organization’s annual fundraising goal.

The total included $27.6 million in base fundraising and a single $25 million “transformational gift,” according to the Foundation’s report. Foundation assets under management totaled about $518 million, up 7% since the Regents’ May meeting.

But after the fundraising numbers were presented, Regent Deborah Romero asked Foundation officials whether they could provide reports showing how donated money has been allocated or awarded and what scholarships have been supported.

“What has been allocated, or awarded, or the scholarships that are being given for these monies that you’re raising?” Romero asked. “I don’t think I’ve ever seen, in the three years that I’ve been here, that I’ve seen that part of the report.”

Debra Marks, the Foundation’s vice president of philanthropic giving and alumni relations, told Romero the Foundation could compile that information.

Marks said the Foundation’s finance and gift processing offices already meet with individual colleges and other university units to report on spending, available funds and allocations. She said she could take Romero’s request back to Foundation President Sylvia Y. Acosta and work on providing the Regents with a broader report.

Romero’s request came after the Foundation reported a fundraising year that substantially exceeded its target. The $52.6 million total was the second-highest annual fundraising total in Foundation and university history.

Another regent later asked whether the $52 million-plus figure included pledges. Marks said it did and that the total encompassed all fundraising activity.

The Foundation has already begun its next fundraising cycle. As of July 30, it reported raising about $7.29 million toward its $25.5 million fiscal 2027 goal — approximately 28% of the target.

The Foundation’s board was scheduled to hold its first meeting of the new fiscal year Aug. 20, with a written report from that meeting expected to be provided to the Regents in October.

Damien Willis is founder and editor of Organ Mountain News. If you have a personal story to share or a lead we should follow up on, reach out at OrganMountainNews@gmail.com or connect with him on X at @damienwillis.