The JF Maddox Foundation announced that its CEO, Ray Caraway, will retire in September.
As CEO, Caraway has led the foundation in its efforts to make impactful grants in Lea County such as an endowment grant of $5 million to the Career and Technical Education Center of Hobbs which provides funding to secure CTECH’s long-term financial future.
Caraway also oversaw the foundation’s $750,000 grant given to Habitat for Humanity of Hobbs for its ReStore project which has already brought in $70,000 helping to build additional homes for partner families. In addition, he has worked with the foundation staff to enhance and strengthen the foundation’s programs, such as the Maddox Leadership Institute which will be starting its fifth cohort in the fall; the Jack Maddox Distinguished Lecture Series that recently featured executive producer, host, and best-selling author Mike Rowe; and the Jack Maddox Distinguished Scholarship program which awards one full-ride scholarship and four $20,000 scholarships each year.
Caraway joined the foundation in September 2020, replacing the retiring Bob Reid.
Reflecting on his time as CEO, Caraway said, “During my time at the JF Maddox Foundation, I have had the opportunity to get to know so many wonderful people and work with an engaged group of staff and community leaders. I couldn’t be more proud of the work we’ve accomplished together. I will be 61 later this year, and after serving as the CEO at four different foundations over the last 25 years, my wife, Mary, and I have decided this is the right time to slow down a bit.”
The JF Maddox Foundation Board of Directors has formed a transition committee that will work to determine the path forward for foundation leadership.
“We are proud of the work the foundation has continued to accomplish under Ray’s leadership, and we are sad to see his time with us come to a close. Ray developed a great relationship with our staff and our community and for that we are grateful. Whatever is next for Ray, we know he will tackle with the same dedication and hard work as he did when he joined us as our CEO. We wish him the best of luck in his retirement and hope his new free time will allow him to focus on himself and his family,” said Ann Maddox Utterback, Board Chair of the JF Maddox Foundation.
Prior to the decision and announcement of Caraway’s departure, the foundation promoted David Reed to chief operations officer and Mayra Lovas to vice president – grants. Kyle Shepard will continue to serve as the chief financial officer.
“The promotions of David and Mayra demonstrate the effective leadership in charge at the foundation and our confidence in its success as we move forward in this transition,’’ said Caraway. “Their determination, drive, and natural leadership abilities will strengthen the foundation’s work in the community and allow us to make an even greater difference for the people we have the honor of serving.”
Reed will oversee the foundation’s overall operations and will focus on ensuring the grant, communication, and finance departments work in coordination to uncover innovative, data-driven solutions. Reed has been with the JF Maddox Foundation since 2012 and served as program officer and senior program officer and communication manager prior to his promotion. He has an MBA from West Texas A&M and an undergraduate degree in communications from the University of Arizona.
“Over the last ten years I have had the pleasure of working with so many impactful people in this community. I am excited to continue this work in a new way as we make this transition,” said Reed.
Lovas will manage the foundation’s grants department and will work closely with community organizations whose missions help enhance the quality of life for Lea County residents. She joined the foundation in 2016 and has served as program officer and senior program officer.
During her time with the organization, she has worked in all program areas with primary responsibilities of overseeing the Maddox Leadership Institute and administering grants related to early childhood education, public health, and youth development. Lovas has a Masters of Public Health, a Masters of Family and Consumer Science, and an undergraduate degree in Hotel, Restaurant, and Tourism Management from New Mexico State University.
“Working with the foundation’s grantees and partners has allowed me to witness firsthand the impact they are making in the lives of our friends, neighbors, and families,” said Lovas. “I look forward to continuing to build relationships and being invited to collaborate on initiatives that transform our community.”
The JF Maddox Foundation is a private family foundation in Lea County, New Mexico. Alongside its partners, the foundation invests in education, social services, and community development for a greater quality of life for Lea County residents. For more information on the JF Maddox Foundation, visit.