What is a Community Foundation?
Community foundations help build and strengthen community and bring together people and organizations that want to make a difference in the world. They are tax-exempt public charities that guide philanthropy and are dedicated to improving the quality of life in the areas they serve.
What is the Community Foundation of Southern New Mexico?
The Community Foundation of Southern New Mexico (CFSNM) is a nonprofit community foundation that manages and invests charitable funds for individuals, families, businesses and other nonprofit organizations. Our mission is to serve as a charitable resource that links donors to community needs. We are guided by the desire to create a culture of philanthropy for the greater good of citizens living in southern New Mexico. Founded in 2000, the CFSNM has more than $15 million in assets under management and administers more than 200 philanthropic funds that make grants to charitable organizations and causes worldwide.
What is an endowment?
Most simply, an endowment is a fund whose contributions are not expendable; only the earnings on those contributions are available to support tax-exempt organizations or charitable purposes.
What is the minimum balance to begin an endowment?
Endowments require a minimum of $15,000 to open. Donor-advised funds require a minimum of $10,000 to open. Once the fund is open, gifts of any size given by any individual are accepted.