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— What is a Legacy? (return to top) |
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A legacy is a means of transferring your values to the next generation. By making a gift in your will, you can shape the future of NMSU in a meaningful way while earning for yourself a special kind of immortality. At your death, your assets will be distributed to at least two of the following three beneficiaries: your chosen heirs, the United States government, or the charitable organization(s) of your choice. If you don’t stipulate your desires in a legal method, a significant portion of your estate could be reduced by taxes rather than directed to what you value most. |
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— What is the First Step if I Decide to Leave a Legacy? (return to top) |
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To get started, carefully consider which department or college best reflects your values and goals. Also consider how your community would be affected if NMSU did not exist. You might want to speak with representatives to share your intent and to ensure that your estate gifts are appropriately directed. You may also find a contact for your area of interest. |
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— How to Leave a Legacy (return to top) |
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There are many ways to leave a legacy. You can give a fixed sum of money, specify certain property or give a percentage of your estate. You can make a gift to a charity in your will or name a charity as the beneficiary of new or existing life insurance policies, retirement plans, CDs and/or annuities. Memorial gifts, which can be arranged in your will or through a special form of trust, are a wonderful way to honor what you value. |
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— Donor Advised Fund (return to top) |
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In 2002 the NMSU Foundation Board of Directors approved the creation of a donor-advised fund to be managed by the Foundation. This new fund will enable donors to make gifts benefiting New Mexico State and other institutions of higher education designated by the donor. A minimum gift of $10,000 is required to set up such a fund. Fifty percent of earnings must be designated to support programs at New Mexico State. The fund will have the same payout rate and service fees currently in place for the Foundation’s endowment pool. |
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— Gift Options (return to top) |
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Donors may make a gift to the NMSU Foundation, Inc. and receive direct financial benefits. The benefits are income for life for the donor and/or the donor’s spouse and charitable income tax deduction. These gift vehicle require a minimum investment of $10,000, the remainder of which may be designated to benefit any college, activity or program at NMSU.
• Cash: Cash gifts may be given outright or pledged over a period of years. Cash gifts are generally tax deductible up to 50 percent of the donor’s adjusted gross income and the excess may be carried over for up to five years.
• Securities: An outright gift of long-term, appreciated securities is exempt from capital gains taxes and, in most cases, enables the donor to claim a charitable income tax deduction equal to the full fair market value of the securities at the time of transfer. The deduction is limited to 30 percent of the donor’s adjusted gross income and the excess may be carried over for up to five years.
• Gifts of Real Estate: A donor can make a gift of commercial or residential real estate to the NMSU Foundation and receive substantial financial benefits. A donor may give the property outright and qualify for a charitable income tax deduction on the appraised value of the property. A donor leaving a home to NMSU through a will should consider giving it now while retaining the right to live in the property for life. The donor continues to pay taxes, insurance, and maintenance costs by receives a substantial charitable income tax deduction in the year the gift is made.
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— Estate Planning (return to top) |
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For many donors, a gift made through a bequest is an easy way of making a substantial contribution to the University. • Specific Bequest: The NMSU Foundation receives a specific piece of property, a stated percentage, or a specific amount.
• Residuary Bequest: The NMSU Foundation will receive all or a stated percentage of an estate after distribution of specific bequests and payment of debts, taxes, and expenses.
• Trust Established Under a Will: Trusts may be established to provide for both NMSU and other beneficiaries.
• The Foundation is pleased to recognize planned estate gifts now during the donor’s lifetime in a special giving category, The 1888 Society. Contact us at 575.646.1611 or 800.342.6678 or by e-mail giving@nmsu.edu and we'll be happy to answer your questions. |
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