Developer says he isn’t helping pay Theus and Martin

Las Cruces developer Philip Philippou isn’t giving any money to the New Mexico State University Foundation to help pay basketball Coach Reggie Theus or President Michael Martin.

Philippou contacted me this weekend to make that clear. His comments came in response to an article I ran Friday questioning whether the foundation’s donor list should be public.

The university recently gave Theus and Martin significant raises in compensation that are paid by the private sector. The money is funneled through the foundation, a non-profit that keeps its donor lists secret.

I wrote that in many states, such foundations have been ordered by courts to open their books because they were operating more like state agencies than non-profits.

As an example of a sticky situation that can arise when such donors remain secret, I pointed out that, 10 days after the university announced Theus’ $100,000 raise from the private sector, the coach surprised many by waiting more than four hours during a Las Cruces City Council meeting for the chance to endorse The Vistas at Presidio, a 6,000-acre development proposed by Philippou.

Many questioned whether Philippou was one of the contributors to Theus’ compensation.

Now we know he isn’t.

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