Five N.M. Community Foundations Consider Mega-Merger

After joining forces on a statewide giving day that raised $853,000, five major New Mexico community foundations are exploring new models for collaborating, including a possible merger of all the groups, reports the Albuquerque Journal.

The Albuquerque Community Foundation, Santa Fe Community Foundation, New Mexico Community Foundation, Taos Community Foundation, and the Community Foundation of Southern New Mexico jointly announced plans Thursday to spend six months exploring partnership options.

“We have the unanimous support from each our boards to explore the idea” of forming a single foundation, said Randy Royster, who heads the Albuquerque Community Foundation. The five groups, which have combined assets of about $185-million, will also mull a consolidation that could see them share staff and office operations but maintain separate boards.

Brian Byrnes, president and CEO of the Santa Fe foundation, said a united entity could “help all boats rise,” providing grants and investments in parts of the state that do not have their own community foundations.