Apr. 04, 2014
PNM Fund to Award $500,000 for Community Projects
Albuquerque: Organizations looking for new ways to vitalize their communities have a new opportunity available. The PNM Fund of the PNM Resources Foundation has created a new grant program, PNM Power Up Grants.
The PNM Fund seeks innovative and creative proposals, which will improve the quality of life in New Mexican communities. Nonprofit organizations can now apply for one of four $50,000 grants or one of twenty $15,000 grants.
The new program was made possible in part by $3.5 million in additional funding PNM Resources shareholders provided to the Foundation at the end of 2013. The contribution increases the annual dollars available to help build stronger communities in New Mexico for years to come.
"As a New Mexico-based company, we're focused on supporting our communities in ways that are meaningful to our customers. Our infusion of an additional $3.5 million to the PNM Resources Foundation at the conclusion of the Foundation's 30th year of operation strengthens our ability to do this for years to come," said Pat Vincent-Collawn, chairman, president and CEO of PNM Resources. "The additional investment will increase our Foundation's annual giving capacity for communities to about $1 million. The new grants being announced today are one way the Foundation is able to leverage this additional funding to build stronger communities."
The Power Up Grants will be awarded to nonprofit organizations that propose the best projects for community and neighborhood revitalization, corridor, street or median improvements, green space creation, or creation of meaningful public spaces. There are many areas across the state that can use some extra attention. Projects from parks to streetscapes will be considered.
"The possibilities are endless," says Jennifer Scacco, PNM Community Relations Project manager. "With some vision and imagination, these projects can have a lasting impact on future generations."
Whether communities want more park amenities or event and performance spaces, downtown street furniture or recreation areas, this is the opportunity to fund those ideas. Applications will be awarded throughout the state in communities PNM serves or where PNM has a significant presence such as Farmington.
The grant application is now open, and the deadline to apply for the PNM Power Up Grants is May 31. Applications and more detail will be available in early April at PNM.com/powerup.
The PNM Resources Foundation is the oldest corporate foundation with headquarters in New Mexico and has been integral in providing needed resources for economically challenged areas.
With headquarters in Albuquerque, PNM is the largest electricity provider in New Mexico, serving 500,000 customers in dozens of communities across the state. PNM is a subsidiary of PNM Resources, an energy holding company also headquartered in Albuquerque. For more information, visit PNM.com.
In 1983, PNM shareholders created the PNM Foundation as a separate, nonprofit, tax-exempt corporation governed by a board of trustees comprised of PNM employees. In 2005, with the acquisition of First Choice Power and Texas-New Mexico Power Co., the foundation expanded its' scope to include parts of Texas. No customer funds are part of the PNM Resources Foundation endowment. For more information, visit PNM.com.