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University of New Mexico Foundation
The University of New Mexico Foundation was established in 1979 as a 501(c)(3) to raise, invest, and steward private gifts for the university.
University of New Mexico Foundation
The University of New Mexico Foundation was established in 1979 as a 501(c)(3) to raise, invest, and steward private gifts for the university. CEO Jeff Todd leads the operation alongside a board chaired by Thomas Daulton, with university president Garnett Stokes serving ex officio. The foundation does not disclose the source wealth of its individual donors beyond named giving societies, but its mission ties directly to advancing education, research, and health across the UNM system. The foundation allocates across private equity, venture capital, real estate, hedge funds, natural resources, and private credit. Early-stage venture commitments flow partly through UNM Rainforest Innovations, the university's technology transfer nonprofit. Real estate exposures include fund positions — confirmed vehicles include Bain Capital Real Estate Fund II and the UBS Trumbull Property Fund — alongside direct stakes in the Science & Technology Park in Albuquerque and the newly developed Velarde Center for Philanthropy. The foundation also holds oil and gas interests and two art museum collections, giving it a hybrid financial and physical asset profile. The portfolio is organized around a Consolidated Investment Fund, with additional assets held outside that structure. Governance runs through an Investment Committee that derives its authority from the UNM Board of Regents. Adjacent entities include the Lobo Development Corporation for real estate projects and the Tom L. Popejoy Society for donors who have given over $50,000. The foundation participates in NACUBO and the Association of Governing Boards of Universities and Colleges. A significant recent event is the development of the Velarde Center for Philanthropy, anchored by alumnus Randy Velarde's gift, which opened as a commercial and operational hub for the foundation. The foundation's structural differentiator is its integration with UNM Rainforest Innovations and Lobo Development Corporation. This gives the investment office a direct pipeline into university-generated intellectual property and local real estate development — a sourcing channel that most endowments access only indirectly through fund managers. The dual role as a fundraising and investing entity creates a governance layer where donor intent and institutional returns must be balanced through the Investment Committee's delegated authority.
General information
Firm type
Endowment / Foundation
Year founded
1979
Location
Region
North America
Country
United States
City
Albuquerque
Corporate office
Albuquerque, NM, United States
Principals
Jeff Todd
President and CEO
Thomas Daulton
Chair of the Board of Trustees
Garnett Stokes
President of the University of New Mexico and ex-officio board member
Sector focus
Frequently asked questions
How does the UNM Foundation source its venture capital investments?
A portion of early-stage venture capital commitments flows through UNM Rainforest Innovations, the university's technology transfer and economic development organization. This arrangement allows the foundation to access deal flow originating from UNM research, effectively giving the endowment a proprietary pipeline into university-generated startups before those opportunities reach external venture funds.
Is the UNM Foundation purely an allocator to external managers?
No. While the foundation commits to external funds across private equity, real estate, and natural resources, it also holds direct stakes in physical assets. These include the Science & Technology Park in Albuquerque, the newly developed Velarde Center for Philanthropy, oil and gas interests, and two permanent art museum collections — the UNM Art Museum and the Harwood Museum of Art.
Who governs the UNM Foundation's investment decisions?
An Investment Committee makes the asset allocation and manager selection decisions for the foundation's Consolidated Investment Fund. The UNM Board of Regents delegates investment authority to this committee. The foundation's President and CEO, Jeff Todd, and the Board of Trustees, chaired by Thomas Daulton, oversee the overall operation, with university president Garnett Stokes serving as an ex-officio board member.
What role does real estate play in the UNM Foundation's portfolio?
Real estate exposure takes two forms. The foundation commits to institutional real estate funds including Bain Capital Real Estate Fund II, the UBS Trumbull Property Fund, and Landmark Real Estate Partners VIII. It also holds direct commercial properties through its relationship with Lobo Development Corporation, most prominently the Science & Technology Park and the Velarde Center for Philanthropy.
Does the UNM Foundation invest in energy?
Yes. The foundation has energy exposure through oil and gas interests and commitments to upstream-focused private equity funds. Confirmed fund relationships include ArcLight Energy Partners Fund VII, Quantum Energy Partners VII, and Natural Gas Partners IX. The firm's sector tagging also flags Energy Transition & Renewables as a focus.
How is the UNM Foundation related to the University of New Mexico itself?
The foundation is a legally separate 501(c)(3) nonprofit corporation, but it is structurally tied to the university. Its mission is exclusively to support UNM, and the university's president sits ex officio on the foundation's board. The Board of Regents delegates investment oversight to the foundation's Investment Committee, and technology transfer investments run through UNM Rainforest Innovations, a university-affiliated nonprofit.
What philanthropic structures does the UNM Foundation maintain?
The foundation operates multiple donor recognition societies, including the Tom L. Popejoy Society for cumulative giving above $50,000 and the New Horizons Society for estate-plan donors. It manages two art museum permanent collections — at the UNM Art Museum in Albuquerque and the Harwood Museum of Art in Taos — and holds the Raymond Jonson Collection. The Velarde Center for Philanthropy, funded by alumnus Randy Velarde, now serves as its operational headquarters.
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