What is it?

This is a scholarship endowment fund envisioned, proposed and initially chaired by Ken Haynes Jr with the financial aid of the 1995/1996 New Mexico Manufactured Housing Association Board of Directors and individual members of the NMMHA.


The Albuquerque Community Foundation, a 501(c)(3) non-profit, which manages $10 million in student financial aid programs, was chosen as the custodian of the endowment. Charlie and Kathy Barnhart became co-chairs in 2003. I am sad to report Charlie died in 2007.


The purpose of the endowment is to offer financial assistance, in the form of grants, to selected New Mexico high school graduates who live in a mobile or manufactured home and have the grades and motivation but not the means to attend a college or university of their choice.


The ability to send at least one student to college who might not have otherwise attended, and the opportunity for philanthropic minded members of the NMMHA to contribute to a charity directly related to their collective lives are two of several goals accomplished by the establishment of this scholarship.


This is a protected perpetual endowment fund with a minuscule balance growing at a glacial pace by reinvestment and individual contributions. Started with $15,000 in December 1995, the balance is approaching $100,000, the initial request, when they had the money.


The first grant of $350 was awarded in June 1996. Once the endowment balance exceeded $30,000, the annual awards have been one $1,000 grant and one grant of a lesser amount, which are paid out of the earned interest, as well as the administrative costs. 100% of any donation goes into the balance.



Patrons

Donations from individuals have spanned the range from $25 to $500. With an initial balance of $15,000, awarding one $350 grant, the endowment has grown to slightly less than $40,000, awarding a $1,000 and a $500 grant per year.

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