University of New Mexico Foundation

The foundation describes the “collective mission” of the school as becoming a “global beacon” for human potential and “exemplifying the strength found in inclusive diversity.” ¹

In March 2024, sports journalist Daniel Libit sued the Foundation for the third time over its alleged refusal to make its spending records public.

Controversies

In March 2024, sports journalist Daniel Libit sued the University of New Mexico Foundation for the third time over its alleged refusal to make its spending records public. Libit previously had forced the foundation to acknowledge that it was a public entity and therefore was required under the state of New Mexico’s Public Records Act to disclose its budget sheet if requested. Libit’s third lawsuit, filed on March 29th in Bernalillo County, requested information on how much the foundation pays university employees, the nature of its naming agreement with its basketball arena, and the amount it has spent on legal fees. ²

“If an organization spends seven years fighting a losing court battle to conceal their records, loses that battle, but continues to conceal its records, it invites the public’s deepest and darkest suspicion,” Libit said to the Washington Examiner. He characterized the foundation as a “creature” of the university, pointing out that the president is a trustee of the foundation and, according to his suit, “one-quarter of the Foundation’s Board of Trustees are employees, officers, or Regents of the University of New Mexico.” ²

According to the Examiner, the foundation acts as a contractor to the university, managing its endowment, and has also been given free rein to use the university’s intellectual property and trademarks to carry out fundraising activities. It is also located on school property. ²

Leadership

As of June 2023, the chair of the foundation was Ryan Mummert, the president and chief executive officer was Jeffrey Todd, and the vice chair was Felicia Finston. ³