PNM, located in Albuquerque, N.M., is one of the largest providers of electricity and natural gas with offices in more than 20 cities. It serves more than 400,000 electricity customers and over 500,000 natural gas customers in more than 100 communities statewide. It also sells electricity to the wholesale market. Its PNM Resources Foundation is a nonprofit and tax-exempt corporation, which funds and contributes to nonprofit organizations and educators in New Mexico. PNM was founded in 1917 as the Albuquerque Gas and Electric Co., and is one of four subsidiaries of PNM Resources, an investor-owned energy holding company based in Albuquerque.