Skip to Main Content

McIntosh Gift Honors Family's Commitment to Agriculture

Michael and Melody Gaines

Michael and Melody Gaines, left, have an endowed scholarship in their honor through a gift from Anne and Kent McIntosh.

When Kent and Anne McIntosh decided to retire after 45 years of farming in Kentucky, they checked out several locations but none of them felt "comfortable."

Anne, who grew up in Tularosa, suggested that they visit Las Cruces. New Mexico was familiar ground for Kent, who was stationed at Holloman Air Force Base in the 1960s.

The city had changed in the intervening years, but it met several of their criteria: mild climate, opportunities to play golf almost every day and a welcoming atmosphere. An added bonus was the presence of New Mexico State University with its strong agricultural program. Agriculture had been their life and they realized how difficult it was for someone just starting out in the field to be successful without a college education. With that in mind, they established the Michael G. Gaines Family Endowed Scholarship to support students entering an ag-related field.

Their gift is a combination of a multi-year pledge now and a portion of their estate down the road, making them eligible for membership in The 1888 Society. They named the scholarship in honor of their nephew, Michael '80, '87, and his family to recognize his commitment to teaching vocational agriculture at the high school level in Mescalero, Ruidoso, Carrizozo and now, Socorro.

"Mike and his wife, Melody '92, are dedicated educators who have gone the extra mile in helping students in the classroom, as well as numerous extracurricular and community activities," Anne says. "They have been very instrumental in preparing students to meet the challenges of agricultural-related careers or other life situations. They have contributed so much to young people in New Mexico."

Kent adds, "We saw farming evolve from a mostly manual operation to an extremely high-tech profession. We were excited by, but sometimes challenged, to keep up with the technology, information and resources required to make our farming operation successful. It has been rewarding to see more young people interested in agriculture and the diverse agriculturerelated careers. We are pleased to participate in helping young people pursue their education in this field."

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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address