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Jack and MaryLou Davis Have Strong Aggie Roots

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MaryLou and Jack Davis

Jack and MaryLou Davis met as students at New Mexico State University in the late 1960s. MaryLou was an education major, and Jack earned his first bachelor's degree in medical technology through the biology department. Their first home was in Las Cruces. She taught second grade at University Hills Elementary School and he worked in the lab at (then) Memorial General Hospital.

Following in the footsteps of his father and older brother, Jack returned to college to study electrical engineering with an emphasis on utility management. He earned a second bachelor's degree in 1973. After his graduation, the Davises relocated to Phoenix, and Jack went to work for Arizona Public Service (APS) in the system planning department. He remained with that company and its parent company, Pinnacle West Capital Co., until his retirement in 2008.

Jack rose through the management ranks, becoming president and CEO of APS and Pinnacle West. At the time of his retirement, Arizona Public Service honored his many contributions to the company and the industry by establishing a named scholarship endowment in the college of engineering at NMSU to support students interested in pursuing careers in the power industry. Jack and MaryLou continue to add to the endowment.

MaryLou continued her career as an educator. She received her master's degree in education, with an emphasis on fetal alcohol syndrome, from Grand Canyon University. She taught in Phoenix Elementary School District 1 and at Phoenix College. She is now involved with the Gompers Habilitation Center, a day program in Phoenix that serves individuals ages 5 to 82 with mental and physical disabilities. MaryLou has served on the board of directors since 2000, is the past chairman and remains actively involved in raising money to support its many services.

Retirement offers Jack the opportunity to serve Arizona and the power industry in new ways. He is the chairman of the board for the Arizona Community Foundation, which has assets of $600 million to support the work of nonprofits across the state, and is on the board of directors for Portland General Electric, a publicly traded power company in Oregon. They are both involved with New Mexico State University as well. Jack has served on the advisory board of the electrical utility management program in the college of engineering. MaryLou serves on the NMSU Foundation Board of Directors as a member of the governance committee and secretary to the board.

"Over the years, NMSU engineering graduates have become key employees with APS, and it is important to support the engineers of the future," Jack says. In 2012, six students received scholarships through the endowment.

They share the belief that education is a vital tool no one can take away and say the education they received at NMSU contributed to the success they have enjoyed.

"We learned from our parents the importance of sharing and giving back," MaryLou says. That philosophy inspires their strong support for the university.

In 2012, MaryLou started an endowment in the college of education. While it grows, she is also making current-use gifts to support scholarships in early childhood education. As members of The 1888 Society, they have additional gifts planned through their estates.

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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