The Conference Staff Reorganization Committee brought a recommendation to the New Mexico Annual Conference to create The New Mexico Conference Foundation. The purpose of this new foundation was “to receive, invest, and administer funds derived from gifts, wills, and legacies for the benefit of the New Mexico Conference and its projects and institutions, and local churches.” Dr. Earl Nowlin to serve as a part-time director of stewardship and finance.
First formal annual meeting was held, Articles of Incorporation and Bylaws were developed, slate of board members prepared for submission and election at the Annual Conference session. The Foundation’s initial Board of Directors and Officers: Dr. Ralph Seiler, President (Albuquerque), Paul H. Barnes, Vice President (Albuquerque), James F. Elliott, Treasurer (El Paso), Dr. George W. Prothro, Secretary (Clovis), E. W. Faegin (Gallup), Paul W. Petty (Albuquerque), Caswell S. Neal (Carlsbad), Dr. R. L. Willingham, Dr. Brodace Elkins, and Fred Blocksom (Roswell).
$2 million Bataan Hospital sale proceeds placed in the Foundation. Through the years the Conference has received $6,492,580.65 in distributions from that endowment for its various endeavors. Other additions have been made from time to time, and the current market value of the endowment is $3,462,792.
Rev. Dr. Jerald Jackson was selected to become the first full-time Executive Director Doctor Jackson’s leadership proved crucial to the further development of the Foundation, its management style, its financial assets under management, its Board of Directors, and its outreach into the Conference.
Rev. Dr. William W. Hutchinson became Executive Director. He was able to effectively share information and perspective about the ministries of the Foundation, the importance of financial planning by congregations, the role of endowments for congregations, and the significance of charitable trusts and gift annuities in the estate plans of individuals and families.
Rev. Dr. Leonard Gillingham, Served as interim Executive Director.
Rev. Sanford D. Coon became the Executive Director of the Foundation. Immediately prior to coming to the New Mexico Conference Foundation he was serving as a stewardship consultant with the Texas Methodist Foundation.
The Foundation manages over 400 separate accounts for congregations, institutions, and agencies throughout the Conference and over 80 gift annuities and charitable trusts. The total assets under management are approximately $35 million. The Foundation continues to be overseen by a strong 15 member Board of Directors.