2023 Annual Report
Albuquerque Community Foundation, like other community foundations around the country, must evolve to thrive. That’s why 2023 was a transformative year, underscored by a significant moment for the Foundation: the update to our mission statement. This first update to our guiding principles in our 42-year history was the culminating step in a strategic planning process begun back in 2021.
The updated mission—to serve our community by mobilizing and stewarding resources to create equitable opportunity for all—remains true to what we do and who we serve, amplifying and codifying years of gradual and deliberate momentum to capture the breadth of our work and the possibility of impact in the future. This is underscored by the fundamental relationship-building and initiatives to address the full scope of our work in our three key areas: grantmaking; bringing together individual, government, municipal and corporate partners to address immediate community needs; and convening conversations about the systemic causes that create longstanding community issues.
This new mission statement shouldn’t seem unfamiliar to anyone who follows the philosophy and direction of our work. Rather, it is our acknowledgement of how community foundations across the nation continue to evolve toward values-informed philanthropy, our deep commitment to diversity, equity and inclusion, and a reflection of our vision for the greater Albuquerque community.
As I consider our directive to steward and mobilize resources, what resources are we stewarding and mobilizing? A simple answer might lie in financial resources, which we certainly do through grantmaking, administering and increasing donor funds, and growing our endowment. Perhaps just as important are the people we connect to bring the mission to life. One of the great privileges of our work is having a bird’s-eye view of the community to convene groups whose paths might not otherwise cross, but whose goals are aligned. Because diversity is the strength of and inspiration for our community, and holds within it the solutions to urgent needs and systemic issues.
As always, nothing we do would be possible without the support and guidance of our Board of Trustees, the generosity of our donors, our corporate and governmental partners, and our nonprofit partners. I’m filled with immense gratitude for the many individuals and organizations who help make our work in this incredible community possible. Thank you for your confidence and courageous leadership as the Foundation continues to grow and evolve to meet the changing needs of our community.
Randy Royster
President & CEO
Our Mission
How do we continue to grow as a Foundation? That was the question we asked ourselves in 2023, informed by our new mission statement (see Randy’s letter). And grow we did, in our donor advised funds, grantmaking and scholarships, and commitment to ensuring the Board and Staff reflect the community we serve.
This year, Foundation staffing levels hit an all-time high with 17 full-time employees. One of those added employees heads the new Community Leadership Department (see Celia’s letter on pg. 8), formed to act on our commitment to mobilizing resources to address the root causes of systemic community issues. The department’s goal is to expand our previous efforts to support the impact of our grantmaking by:
- exploring intermediary collaborations and bringing more national philanthropic and federal dollars into New Mexico;
- growing our impact investment work; and
- committing to public policy and advocacy efforts more intentionally. For a broader understanding of the powerful Community Leadership movement among community foundations, visit go.abqcf.org/communityleadership.
Enlarging the capacity of our staff allowed us to dig deeper into our core areas, too. As part of our focus on creating opportunities for our community, and in partnership with United Way of North Central New Mexico and funded by the W.K. Kellogg Foundation, we supported the Community Wealth Building Cohort, a collective of 11 community organizations. These organizations are seeking to be a unified voice to identify and address injustice, systemic racism and underinvestment in small Black, Indigeneous, and People of Color (BIPOC) organizations, which face a significant disadvantage when pursuing funding. These organizations educate, elevate and further empower the least, the lost and the left out, yet are chronically underfunded and under-trusted despite their front-line successes in addressing poverty, food insecurity and economic opportunity for their constituents.
Lastly, we stand ready to activate our emergency response protocols when the need arises to address unexpected, urgent crises like pandemics, wildfires and other unprecedented events. A guiding principle of the Community Leadership movement states that community leadership happens when community foundations move beyond grantmaking and act as valuable partners that driving positive change in the area(s) they serve. In addition to facilitating philanthropic transactions, community foundations also embrace a broader role in addressing community needs and drive positive change. The Foundation’s ability to grow is only possible with the tireless dedication of staff, our generous donors, corporate and institutional partners, and the organizations whose services impact the community. We cannot forget our Board, who spent hours learning how the Foundation can use its voice to encourage future change in a more systematic way, too.
We’re excited to grow the way we approach the important work of encouraging a thriving community for another four decades and beyond.
Marisa Magallanez
COO
Grantee Stories
Donor & Philanthropic Partners
The 10th anniversary of the Great Grant Giveaway raised a record-breaking $625,000 in unrestricted funding for seven local nonprofits—the highest amount in the event's history, and nearly triple the $218,525 raised in 2022. Corporate sponsors, local organizations and individual donors all contributed to this record amount.
The 2023 Great Grant Giveaway was also notable for increasing the number of grant recipients from four to seven, marking a commitment to the immediate and emerging needs of Albuquerque’s nonprofits.
Profiles In Philanthropy & Events
The financial information below reflects highlights from audited financial statements in the 2023 calendar year. Our most recent audited financial statements with accompanying notes (plus a report from an independent auditor) are available at abqcf.org.
The Finance Committee oversees our accounting process. The Finance Committee is responsible for overseeing the audit process. The Investment Committee oversees all aspects of the investment program, ensuring assets are well-diversified and designed to meet the Foundation’s objectives. Our investment management summary, along with quarterly investment performance reports, are also available on our website.
The objective of the Foundation’s investment program is to produce growth and income sufficient to support both donor goals and Foundation objectives and to maintain the purchasing power of the fund for future beneficiaries. The long-term total return needed of the Foundation’s portfolio is Consumer Price Index (CPI), plus the current spending policy rate, plus the Foundation’s average administrative fee.
** 2023 Emeritus Trustees
* Remembered
$25,000 | Champion
$15,000 | Community Builder
$5,000 | Benefactor
$2,500 | Partner
Contract Associates
New Mexico Gas Company
The Payroll Company
Individual Giving | Turn What You Have Into Community Progress
- One-time gifts: Donate cash, stocks or other assets.
- Endowments: Establish long-term support for causes you care about.
- Existing funds: Contribute to pre-existing funds aligned with your passions.
- Areas of impact: Direct donations toward our seven fields-of-interest benefiting Albuquerque.
- Unrestricted Gifts: Flexible support to address urgent needs and emerging opportunities as they arise.
- Partners in Philanthropy: Support day-to-day operations of the Foundation, and empower the capacity of staff.
Collective Impact | Pool Your Donations with Others
- Future Fund: A group of young leaders pooling resources to support local nonprofits. Membership starts at $240/year.
- Social Giving Club: Members join to socialize and make a bigger impact through combined giving. Membership starts at $1,000/year.
- PRIDE Circle: Supports Albuquerque’s LGBTQIA+ community. Join at any level!
Planned Giving | Develop a Charitable Giving Plan that Matches Your Interests
- Estate Gifts: Establish a legacy by designating part of your estate for donation upon death.
- Life Insurance: Assign existing or new life insurance policies to the Foundation as the owner and beneficiary.
- Retirement Accounts: Support the Foundation’s operations by donating directly from your IRA or pension plan.
- Appreciated Stock: Donate appreciated stock to benefit the community.
Since 1981, we’ve been on a mission to serve our community by mobilizing and stewarding resources to create equitable opportunities for all. We’re about supporting Albuquerque and the surrounding four counties by teaming up with donors, nonprofits, funders and community leaders.
From scholarships to housing support, we’re making sure that resources reach those who need them most. No donation is too big or small—when we pool our resources, the impact is not just significant, but also inspired and forever.