UNM FOUNDATION ESTABLISHES NEW MARK IN PRIVATE SUPPORT

August 7, 2003

UNM FOUNDATION ESTABLISHES NEW MARK IN PRIVATE SUPPORT

The University of New Mexico Foundation announced it received more than $42 million in private funds during the 2002-03 fiscal year. The record-setting figure constitutes a 4.5 percent increase over the previous fiscal year, which brought in a then-record $40 million. UNM has seen an increase in private donations five consecutive years.

Nationally, educational contributions have been declining. In the 1990s, contributions rose by more than 10 percent per year. However, contributions have declined over the past several years, but not at UNM, according to Leslie Elgood, UNM Foundation president and Development director.

“Like all universities, UNM depends on support from the private sector to advance and achieve excellence,” said Elgood. “This past year and the last several years demonstrate that our philanthropic community truly understands the importance of investing in the value of higher education.”

For the first time in its history, UNM received gifts of $1 million plus from three living individuals, including one gift of more than $2 million.

The mission of the UNM Foundation is to solicit, accept and manage private contributions and grants for the purpose of promoting the education, research and community service commitments of the University. The development of private resources, both philanthropic and volunteer, is the Foundation’s responsibility.

The UNM Foundation is an incorporated not-for-profit organization with the responsibility to receive, invest and distribute gifts of private support to UNM. For more information call (505) 277-4503.

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