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A Legend Lives on Through Endowment

walter-lwowski.jpgWalter Lwowski, emeritus research professor in the department of chemistry at New Mexico State University, passed away in April 2010 at the age of 81. His affiliation with the university began in 1966 and, thanks to his major estate gift, will impact the department in perpetuity. Additionally, funds from his estate are earmarked for the university library to support the Dr. Walter W.G. Lwowski Archives containing his papers and books.

Dr. Lwowski grew up in Garmish, Germany. He was educated at Heidelberg University where he earned his doctorate in organic chemistry in 1955. He immigrated to the United States to do post-doctorate work, first at UCLA and then at Harvard, where he worked with Robert Woodward on the total synthesis of chlorophyll, which later earned a Noble Prize in chemistry for Robert Woodward.

Lwowski was on the faculty at Yale University when he was lured to New Mexico State University. The chemistry department was just beginning its Ph.D. program, and Lwowski helped develop the graduate program in organic chemistry. He also established an international reputation for his research in nitrene chemistry and nitrogen heterocyclic chemistry. Countless masters, doctorate and post-doctorate students studied with him prior to his retirement in 1991.

One of his special talents was maintaining the instrumentation required to perform sensitive research projects, which helped build the department's reputation. He continued to maintain this instrumentation during his retirement and built several pieces of demonstration equipment used in the department's outreach educational programs.

His endowment will provide funding going forward for the repair, maintenance and purchase of chemical and biochemical research instrumentation for the chemistry department. In these days of declining departmental budgets, this gift is invaluable. According to his former colleagues, "Walter is irreplaceable, but his gift will make an enormous difference."

These colleagues remember Dr. Lwowski as someone who rarely appeared in public without his customary suit and tie. Although he might shed his tie while performing repair jobs or hiking in his beloved Organ Mountains in New Mexico, he always wore a suit.

Lwowski traveled extensively to Austria, Germany and Thailand. He was a collector of rare books and classical music and a patron of both the Las Cruces and El Paso symphonies.

A charitable bequest is one or two sentences in your will or living trust that leave to the New Mexico State University Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the New Mexico State University Foundation, a nonprofit corporation currently located at P.O. Box 3590, Las Cruces, NM 88003, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the NMSU Foundation or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support NMSU's mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the NMSU Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the NMSU Foundation as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the NMSU Foundation where you agree to make a gift to the NMSU Foundation and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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