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Azada Beatty Henry Plans for the Future

Azada Beatty Henry '45 has an enduring love for New Mexico State University. Although her last visit to the campus was in 2003, she always enjoyed walking around and seeing buildings named for faculty members she knew as a student.

Azada grew up in Las Cruces. She attended Las Cruces High School and then New Mexico College of Agriculture and Mechanic Arts where she majored in English. One of her favorite professors was Rufus Breland. "He was a wonderful teacher, but you had to earn your grades," she remembers.

Azada's high school typing class opened the door to several interesting jobs during her college years. She worked as a secretary for the head of the English Department and, one year, while standing in line at Hadley Hall to pay her fees, a man approached looking for someone who could type and wanted a job. That man, Harold Elmandorf, was the director of the Extension Office, where she then worked for two years. His wife, whom the students called "Aunt Sara," was a sponsor for Chi Omega sorority to which Azada belonged.

A life member of the Alumni Association, Azada created the center block of the alumni centennial quilt that memorializes the gold dome of the old Hadley Hall. It is the only quilt block she has ever made she admits.

Her husband's work as an engineer brought them to Austin, Texas, where she has lived for 42 years. In 1999, she created her first charitable gift annuity with NMSU, making her a member of the 1888 Society. "You have to love something to want to give money to support it," Azada says. The three gift annuities she now owns are a testimony to that love.

There was a practical aspect to this investment as well. Admittedly frugal, Azada saw gift annuities as a way to lower her taxable income.

She is always writing, reading and looking for words of inspiration to share with others. One of her favorites is: "Live well, laugh often and love much."

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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