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New Mexico State University

New Mexico State University

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NMSU Foundation's endowment reaches $100 million

The New Mexico State University Foundation's endowment has recently surpassed $100 million in size and continues to grow, said Rebecca Dukes, vice president for university advancement.

aid this milestone was accomplished "through generous gifts from donors and the prudent management of the volunteer investment committee with the excellent due diligence provided by our outside money manager."

With this achievement, NMSU can invest in funds that were closed to the university when the endowment had fewer assets, helping to further diversify, balance and position the endowment for continued high performance.

Funds also will grow at a faster pace now that the endowment has reached this level, said Mickey Clute, chair of the foundation investment committee.

"The endowment now has a continued successful presence, which provides confidence to donors that their financial gifts will be invested prudently," he said.

The NMSU Foundation evolved to its current form in 1973 for the purpose of securing private contributions for the support of NMSU's teaching, research, extension and public service programs. As the endowment grows, funds will continue to benefit students, faculty and programs at NMSU, picking up where revenue from state and other sources may be lacking.

"Private gifts are the key to providing programs, making scholarships available for students in all areas of studies and enhancing faculty salaries in order to attract great professors," Dukes said.

Clute said the $100 million milestone is only one point in the endowment's growth. "It is a continuing trip," he said. "But NMSU has achieved a level that shows success, and the next $100 million hopefully will come much quicker."

Natisha Hales
Julie M. Hughes
April 4, 2006