NEW MEXICO BAPTIST FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Principal Officer

RICK BREEDEN

Phone

5053323777

Tax Period

2023-01-01 to 2023-12-31

NEW MEXICO BAPTIST FOUNDATION, founded in 1948, is a community nonprofit in the Religion sector that reported $2.5M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Net assets of $12.9M represent 63 months of operating reserves.

Mission

THE NEW MEXICO BAPTIST FOUNDATION SEEKS TO FULFILL ITS MISSION TO GENERATE FUNDS FOR KINGDOM CAUSES AROUND THE WORLD. WE ARE COMMITTED TO ASSISTING INDIVIDUALS, CHURCHES, AND CHARITIES IMPACTING THE WORLD THROUGH THE FAITHFUL STEWARDSHIP OF GOD'S RESOURCES. THE FOUNDATION MANAGES FUNDS ENTRUSTED FOR THE ONGOING BENEFIT OF CHURCHES, MISSIONS, MINISTRY, AND CHARITABLE ORGANIZATIONS. IN ADDITION, THE FOUNDATION PROVIDES RESOURCES FOR ESTATE PLANNING, CHARITABLE GIFTING, ENDOWMENT CREATION, SCHOLARSHIPS, CHURCH FINANCE, AND COMPASSION CAUSES.

Program Service Accomplishments

Program 1

Expenses: $2,035,799

THE GENERAL PURPOSE OF THE NEW MEXICO BAPTIST FOUNDATION (FOUNDATION) SHALL BE TO SERVE ANY BAPTIST INSTITUTION, AGENCY, OR ENTERPRISE OR ANY BENEVOLENT, CHARITABLE, EDUCATIONAL OR MISSIONARY...

THE GENERAL PURPOSE OF THE NEW MEXICO BAPTIST FOUNDATION (FOUNDATION) SHALL BE TO SERVE ANY BAPTIST INSTITUTION, AGENCY, OR ENTERPRISE OR ANY BENEVOLENT, CHARITABLE, EDUCATIONAL OR MISSIONARY UNDERTAKING, INSTITUTION OR AGENCY FOSTERED BY OR HAVING THE OFFICIAL SANCTION OF THE BAPTIST CONVENTION OF NEW MEXICO, OR THE SOUTHERN BAPTIST CONVENTION. SUCH CONJOINED PURPOSES TO BE EXECUTED SIMULTANEOUSLY IN THE FURTHERANCE OF THE DEVELOPMENT OF BENEVOLENT, CHARITABLE, EDUCATIONAL AND MISSIONARY ACTIVITIES IN, AND FOR THE BENEFIT OF, SCHOOLS, HOSPITALS, ORPHANAGES AND OTHER ENTERPRISES OPERATED AS BAPTIST INSTITUTIONS OR UNDER THE SUPERVISION OF THE BAPTIST CONVENTION OF NEW MEXICO OR THE SOUTHERN BAPTIST CONVENTION, OR FOR ANY CHARITABLE PURPOSE WHEN A PART OF THE INCOME OF A PARTICULAR TRUST SHALL BE FOR THE PURPOSE HEREIN ABOVE STATED, AND TO SUCH END MAY RECIEVE BY BEQUEST, DEVISE, GIFT, PURCHASE OR LEASE, EITHER ABSOLUTELY OR IN TRUST, ANY REAL OR PERSONAL PROPERTY. TO CONVEY SUCH PROPERTY, TO INVEST AND REINVEST THE SAME OF THE PROCEEDS THEREOF, IN SUCH MANNER AS IN THE JUDGMENT OF THE BOARD OF DIRECTORS WILL BEST PROMOTE SUCH OBJECTIVES. TO MAKE DISTRIBUTIONS OF INCOME AND PRINCIPAL IN ACCORDANCE WITH THE DIRECTIONS OF THE DONOR, GRANTOR OR TESTATOR. IN THE ABSENCE OF SUCH DIRECTION, SUCH DISTRIBUTIONS SHALL BE MADE AT THE DISCRETION OF THE BOARD OF DIRECTORS OF THE FOUNDATION TO AN INSTITUTION OR AGENCY OF THE BAPTIST CONVENTION OF NEW MEXICO.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,413,946

Program Service Revenue $1,084,264

Investment Income $-31,781

Other Revenue $0

TOTAL REVENUE $2,466,429

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,144,722

Fundraising Expenses $181,595

Program Expenses $2,035,799

Other Expenses $1,475,820

TOTAL EXPENSES $2,620,542

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,466,429	$2,609,401	-0.1%
Expenses	$2,620,542	$1,750,613	+0.5%
Net Income	$-154,113	$858,788	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$352,108

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES STOCKTON	CHAIRMAN	2.00	Officer Director	$0	$0	$0
TED WITH	VICE-CHAIRMA	2.00	Officer Director	$0	$0	$0
ROBERT EWING	SECRETARY	2.00	Officer Director	$0	$0	$0
LINDA DEAN	DIRECTOR	1.00	Director	$0	$0	$0
LEWIS WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
STEVE BALLEW	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS PAYTON	DIRECTOR	1.00	Director	$0	$0	$0
CARROLL VAUGHN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LOUDAT	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD GOMEZ	DIRECTOR	1.00	Director	$0	$0	$0
RICK BREEDEN	PRESIDENT	40.00	Officer	$279,170	$72,938	$352,108

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,466,429	$2,620,542	$55,458,452	$-154,113
2022	$2,609,401	$1,750,613	$49,118,538	$858,788
2021	$1,801,969	$1,705,412	$58,684,099	$96,557
2020	$1,655,131	$1,494,915	$50,366,243	$160,216
2019	$2,113,203	$1,633,467	$47,843,684	$479,736
2018	$2,111,854	$1,367,082	$42,733,780	$744,772