The University of New Mexico Anderson School of Management recently received a $3.2 million gift, the largest cash gift in the school’s history, following the beginning of the dissolution of the Anderson Foundation.
The gift, which was given in late June by the Anderson Foundation, comes after the foundation’s board announced that it would dissolve at the beginning of July and pass all fundraising responsibilities to the UNM Foundation, Anna Dykeman, UNM Anderson School of Management marketing and outreach officer said. The UNM Foundation manages gifts and endowments to every college at the university.
“We basically had two different arms doing the same function and we needed to consolidate to be in line with UNM’s … expectations,” Dykeman told the Journal.
She said that like previous donations from the Anderson Foundation, the recently gifted money will go towards providing students with scholarships.
“That’s the heart of what we do is … educating and positioning the student body of Anderson to be able to join the business community,” she said.
Dykeman said the amount of scholarships given to students next year depends on the endowment’s performance, but she expects more money to be available than in the past.
Last year, the foundation awarded $202,000 in scholarships to undergraduate and graduate students.
Prior to its dissolution, the Anderson Foundation donated more than $7 million to the school over its 40-year history, Dykeman said. Prior to this donation, the largest cash gift given by the Anderson Foundation to Anderson School of Management was $1.25 million.
Though the board is dissolving, Dykeman said board members have the opportunity to serve on other boards at Anderson and the school has created 12 boards over the last year.
“Advisory boards are integral to Anderson’s ability to stay at the leading edge and serve the business community effectively,” Dean Mitzi Montoya wrote in a statement announcing the donation. “Board members’ rich experiences, diverse ideas and incredible networks are essential inputs to the school’s ongoing work to strengthen student learning, advance career outcomes, and increase our impact in the community.”