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Alumnus Honors Former Work Associate With Scholarship at NMSU

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Charles and Geneva Huff

For Charles and Geneva Huff, the gift they made to New Mexico State University in 2009 just keeps on giving-back to them. Last fall they received a thank-you letter from the first recipient of the Louis Rosen Memorial Scholarship in the College of Engineering. Charles says the student's appreciation gave him a feeling he hadn't had in a long time. In fact, it inspired him to make an additional gift to the scholarship fund at the end of 2010.

Charles created the scholarship after being inspired by other donors' stories. Charles met Louis Rosen while working at Sandia National Laboratories. Louis played a major role in the early days of the Los Alamos National Laboratory and has been honored for his work in the field of atomic energy.

Originally from Tucumcari, N.M., Charles remembers fondly the time he spent as an Aggie. As a freshman studying engineering in the fall of 1936, Professor "Dad" Jett stands out as one of his favorite professors. He also remembers trying out for the Aggie football team in a pasture, but he hurt his ankle when he stepped into a deep cow print.

World War II interrupted Charles' studies. He served with the Army Corps of Engineers in Guam, where he built airfields for B-29s. But a very serious bout of dengue fever almost cost him his life. After the war he went to work at Sandia, from which he retired in 1971.

The Huffs now live in Carlsbad, N.M. Geneva loves computers and plans to enroll in a class at NMSU-Carlsbad. She also enjoys entertaining anyone who drops in to visit with Charles about "the old days."

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

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

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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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