New Mexico foundations, like individuals and businesses in the state, have been hit hard by the economic downturn. That in turn means trouble for the non-profits that fill some of the gaps in the social fabric.
“Among our members, portfolios have fallen between 20 percent and more than 50 percent,” said Terry Odendahl, president of the New Mexico Association of Grant Makers, this morning. “Most are planning to diminish their funding by an equivalent amount.”