The Land Grant Permanent Fund (LGPF) is New Mexico's largest endowment and permanent fund. It was established through, and continues to be maintained in part by leasing fees the State charges for 13.4 million acres of mineral resources and 8.8 million acres of surface land. The State Investment Council manages day to day operations of the Land Grant Permanent Fund, including investments and distributions. 

Annually, the Land Grant Permanent Fund distributed more than half a billion dollars to the benefit of the LGPF beneficiaries, with the lion's share going to New Mexico public schools and public education. The following chart shows the basic flow of funds in and out of the LGPF: 

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