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LANL foundation applications go online

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By Special to the Monitor

In an effort to make the submission process efficient and straightforward for all applicants, the LANL Foundation has moved to an online application system.

Anyone interested in a LANL Foundation grant must now apply online.

As with many foundations, the LANL Foundation faced many hurdles in 2008. National and international social and economic challenges added a new level of complexity to fulfilling its mission in Northern New Mexico. With community needs at their highest levels, the foundation sees this difficult time as an opportunity for self-assessment and reevaluation.

The foundation’s endowment, managed for the past 12 years by the University of California (UC) Treasurer’s Office with an average annual return of 11 percent, tumbled from a high of $67 million to $47 million at year’s end.

In response, the foundation struggled to stretch its budget and adjust to this huge financial change. However, the foundation believes that its sound endowment management plan will help protect its resources dedicated to supporting Northern New Mexico school districts.

In addition to the $20 million loss in its endowment, on July 2, 2008, the LANL Foundation was informed by the Department of Energy (DOE) that the seven-year contract signed in 2007 was null and void.