The New Mexico Geological Society (NMGS) Foundation was established in 2003 with the mission of providing a source of funding for educational, and scientific objectives, which directly and indirectly benefit the geologic profession in New Mexico and the general public.
The NMGS Foundation was created as a non-profit 501(c)(3) corporation with the intent to: 1) protect the non-profit status associated with the New Mexico Geological Society and their investment income, 2) provide long-term management of assets and 3) protect scholarship assets from liability associated with NMGS Society activities. The NMGS Foundation Board's primary function is to determine the annual budget for activities associated with the New Mexico Geological Society. To achieve this function, the Board meets quarterly to evaluate investment performance, establish annual budgets, and other associated activities. The NMGS Foundation Board currently has five members, including the Vice President of the New Mexico Geological Society that represents professional and academic geologists from across the state of New Mexico.
NMGS Foundation revenues from investments of charitable contributions are responsible for supporting activities that include the annual NMGS Fall Field Trip, NMGS Spring Meeting, numerous NMGS Grants-in-Aid to students undertaking geological research in the state of New Mexico, and scholarships to students attending 4-year colleges and research universities throughout New Mexico. Totals of support in 2016 exceeded $35,000.