The New Mexico Military Institute officially terminated its ties to its Alumni Association this week after the association failed to meet financial reporting standards, the school announced Friday.
The termination ended a nearly 50-year partnership between the non-profit alumni group and NMMI. Alumni relations will continue after a transition period as NMMI establishes its own alumni office at the campus.
“The Board of Regents has done its due diligence,” said NMMI spokesman Carl Hansen. “They are sorry they have had to take this action, but they have had to take that action because of their responsibility of oversight of the school and many other questions that will have to be asked of by the association.”
Alumni Association executive director Jim Lowe was not available for [auth] comment Friday.
NMMI Board of Regents notified the Alumni Association beginning in February that it had 60 days to provide audited financial statements or face termination from NMMI.
According to Regent president Stephen Paternoster, the association failed to maintain an acceptable financial accounting system and provide audited statement to the Institute.
The Alumni Association had a month to demonstrate an acceptable plan, but failed to do so. The association was incorporated as a non-profit in 1964 and has had an office on campus to promote NMMI and raise funds from alumni. Some of those funds pay for cadet scholarships.
NMMI Foundation funding also provides support for the Alumni Association, however the Foundation has notified the association that this funding ended April 22, the day NMMI officially terminated ties with the association, Hansen said.
“The regents are disappointed, as are we all, but we have to go on,” Hansen said. “And providing support services to alumni and connecting and reconnecting to our alumni worldwide is really the most important thing we can do. And we are going to do that.”
NMMI plans to create its own alumni office on campus to reach out to all 20,000 alumni throughout the world, Hansen said. NMMI plans to begin searching for an alumni office director and begin hiring in July, Hansen said.
“We will continue to provide service and support to all NMMI alumni,” Hansen said. “Heretofore, the association has only provided support to 10 percent of that number.”
The Alumni Association will continue to operate out of its current campus office until a transition agreement can be reached with NMMI, Hansen said.
But after two meetings to iron out a Letter of Forbearance that will spell out the terms of this transition, no arrangement has been reached.
“As far as the school is concerned we have a plan and we are working through that plan,” Hansen said. “We have a big job to do and make sure they stay connected.”
If a no arrangement can be reached for the association to remain on campus to assist with the alumni affairs transition, NMMI “will finalize the termination in accordance with NMMI procedures,” Hansen said.
“The ball is in their court,” he said.