ABQ Community Foundation reports record ’12 endowment

With money in its coffers at an alltime high, the Albuquerque Community Foundation was able last year to give away more money to area nonprofit organizations than it ever has.

The 31-year-old foundation, which manages the endowments of 145 area nonprofits and donates to more than 100 organizations in Albuquerque every year, reported an all-time high of its endowment at the end of 2012 of $58.5 million.

The endowment is up $5.1 million from $53.4 million in 2011, and has been growing steadily in the past five years, according to the foundation’s report to the community, a snapshot of its 64-page annual report booklet, to be released May 10.

It received contributions of $5.7 million in 2012, but its endowment grew tenfold. “The new gifts and income from our investment combined contributed to our endowment growth,” said Kelli Cooper, the foundation’s spokeswoman.

More money coming in means more money can go out. Last year, the foundation donated $3.2 million to organizations around Albuquerque, an increase from $2.5 million in 2011. In 2008, the foundation gave out $3 million, but hasn’t cracked the $3 million mark in annual donations since then, and had never given out $3.2 in a single year, according to the report.

Some of the organizations to which it donated in 2012 included Youth Development Inc., Southwest Creations Collaborative and Futures for Children. The Golden Apple Foundation of New Mexico, whose mission is to improve education by recognizing and developing outstanding teaching, was another recipient.

Golden Apple began the application process in February, and learned it had won a $2,000 grant in April. “That money will go toward our scholars program, which helps students in colleges of education in New Mexico get access to and mentoring from excellent teachers so they can be excellent teachers themselves,” said executive director Brian O’Connell, who called the funding a welcome surprise.

More than half of the organizations receiving grants in 2012 were human services-oriented; almost a quarter were education-focused, and the others dealt in arts, health, community, student aid and preservation, according to Cooper.