New Mexico Bioscience Authority
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It owes more than it owns.
- Only 14% of its spending went to programs.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
The mission of the NM Bioscience Authority is to increase awareness and support for New Mexico's bioscience sector by attracting capital investors, influencing policy and assisting in infrastructure and business development. The NM Bioscience Authority connects all necessary elements of Research & Development, Technology Transfer, Investment and Funding, and Workforce Development.
- Income
- $341,200
- Spending
- $376,910
- Spent on programs
- 14%
- Reserves
- -3.2 months of spending
- Largest source of income
- government grants, 100%
- Employees
- 0
- Volunteers
- 0
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 4 out of 100. Higher than 0% of charities in its peer group (community improvement, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
0 of 20It owes 136% of what it owns.
Living within its means
4 of 15Spending exceeded income by 10% of income.
Income trend
0 of 15Income fell 34% on the year before.
Spending floor
0 of 1514% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 91 out of 100. Higher than 75% of charities in its peer group (community improvement, $250k to $1m).
Independent board
25 of 2513 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- The mission of the NM Bioscience Authority is to increase the amount of Bioscience industry in the state. Much of this work is done through a number of programs including our Community Readiness Program and Co-Investment Program. Both of these programs were conducted during tax year 2024, but no specific funding was needed to explicitly fund the activities which is why these accomplishments are not included on 4a-4c of this year's form 990. Activities related to the Community Readiness Program and the Co-Investment Program were accomplished as a result of NM Bioscience Authority staff activity that was reflective in their salaries.
- $33,835 spent. The Rural NM Biotech Ecosystem program continues to be directly paid for by the Small Business Administration Growth Accelerator Fund Competition prizes. Work done by this program included collaborative meetings with the ecosystem and the development of the NM Bioscience Connect ecomap which can be found at www.nmbioscienceconnect.com. These collaborative meetings included workshops educating users about how to work with tech transfer offices more easily, steps on how to build biotech companies, and networking opportunities between the state's biotech entrepreneurs. The ecomap is an online platform that allows easy, equitable access to the state's resources, organizations, and opportunities. In addition, this program hired two interns that have helped update the ecomap, especially the workforce development tab, and work on marketing the platform to all users. Finally, this program contracted with the local Angels investment group, NM Angels, to help better connect companies within the rural communities to the Rural NM Biotech Ecosystem.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 2018.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.