New Mexico Military Institute is governed by a Board of Regents appointed by the Governor of New Mexico. New Mexico Military Institute is a land grant school with permanent land fund monies dedicated to its support. The budget is approved annually by the New Mexico Legislature. The school conducts an aggressive fund raising effort every year through the New Mexico Military Institute Development Office for capital improvements and scholarship endowment support. The New Mexico Military Institute Alumni Association participates actively in the support of the school and its membership.
Many alumni act as voluntary admissions representatives throughout the United States.
New Mexico Military Institute is a member of the American Association of Junior Colleges, the Association of Military Schools and Colleges of the United States and North Central Association of Colleges and Secondary Schools.