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Ermelinda Quintelas Double Remembrance

For a person who didn't think she wanted to attend college, Ermelinda Quintela has forged an amazing bond with New Mexico State University that goes beyond the four degrees she earned from the university.

It started when she was working for Western Commerce Bank in Carlsbad while she was still in high school. Don Kidd, president of the bank and the man she views as her mentor, approached her to see what her plans were for college. When she told him she didn't think college was for her, he began his sales pitch on the importance of education and preparing one's self for the future.

Soon she had a scholarship to attend NMSU Carlsbad where she was encouraged to "start with the basics." Success there led her to transfer to the main campus in Las Cruces and enroll in the college of business. Her first declared major was finance, but her advisors encouraged her to double major in accounting as well. She earned degrees in both areas in 1988.

Erma's career path has included several positions in the private sector. Along the way she earned her certified public accountant status in 1991 and a master's of accountancy from NMSU in 1993. She is now associate athletic director for business and finance at New Mexico State.

More than that, she is a champion of all things Aggie.

"I loved being in the classroom," she says. "I also love visiting with other alumni and hearing their stories about the impact NMSU had on their lives."

Of course one of the best places to meet these alumni is at athletic events, and Erma is a big fan of Aggie teams.

She also turned her loyalty into strong financial support. Through payroll deductions, she created an endowment honoring her mentor, Don Kidd, in the college of business and another one honoring her father, Ramon Quintela, whom she describes as "a doctor of mechanics."

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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