Sandia Foundation

“The organizing documents for the foundation require that 10% of their annual distribution be paid to albuquerque charities. The foundation has hired the albuquerque community foundation (acf) to oversee this effort. Acf receives and reviews grant applications from albuquerque charities and presents those that acf believes to be worthy recipients to the sandia foundation board. The board then selects the actual recipients from the recommendations presented by acf and determines the amount to be given to each of the selected organizations. Acf then handles the actual distribution of the grants to the individual organizations and monitors the recipients to insure that the grants are used for the purpose they were given.”

“The form 990 is reviewed in detail by the foundation's ceo/president and finance director. A copy of the form 990 is then given to each trustee for review.”

“The board and staff are required to read and sign a conflict of interest statement annually. They must identify any potential conflicts of interest of which they are aware at that time and acknowledge that they are responsible to immediately identify any conflict that comes up subsequent to that.”

“The board reviews the ceo/president's performance for the year and determines whether it was satisfactory and if the ceo/president is deserving of an increase in compensation. The board reviews compensation for similar organizations and positions with similar responsibilities to determine the appropriate compensation. The decision to increase compensation is recorded in the minutes. There is no documentation of the discussion and factors considered in the minutes.”

“The board does not currently compensate other officers or key employees.”

“Policies and audited financial statements are available upon request.”

“Generate income from real estate and securities investments and distribute funds to the foundation's beneficiaries. The distributions are to dickinson college, the univiersity of new mexico, and albuquerque charities per the will of hugh b. Woodward.”

“List of specific donations made to other beneficiaries during the year ended june 30, 2023: aacc of the archdiocese of santa fe 500 albuquerque academy 1,250 albuquerque community foundation 340,000 annual catholic appeal 500 aps education foundation 3,750 cnm foundation 2,500 explora 2,500 god's house church 2,500 locker 505 2,500 manzano day school 2,500 notah begay foundation 2,500 our lady of the most holy rosary church 500 pprm 1,250 right to life committee of new mexico 500 rio grande food project 2,500 roadrunner food bank 2,500 saranam 2,500 southwest collaborative/ hacia program 1,250 st. Joseph's mission school 500 unm foundation, inc. 2,500 total 375,000”