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New Endowments Enrich NMSU

Elizabeth "Betty" Wichert

When funds from the estate of Elizabeth Wichert came to New Mexico State University recently, they were a reflection of her family's many years of involvement with NMSU. Betty taught for more than two decades in the food and nutrition program within the College of Agricultural, Consumer and Environmental Sciences. Her husband, Robert, was the head of the English department in the 1970s and their only son, Peter, was on the faculty in the finance department of the College of Business. Both of them preceded her in death.

Betty created scholarship endowments in the departments of English, and family and consumer sciences, as well as an endowment in geology to support her son's rock collection which was also given to the department. Her final endowment will support a lecture series through the department of English to bring guest lecturers from a variety of fields within the arts and sciences with special emphasis on literature and history.

The Wicherts were originally from New York and returned there for summer vacations. Dr. Ann Bock, Betty's longtime friend and coworker in the department of family and consumer science, described her as a professor who was both well-liked and feared by her students. One student stated that she had never been "more scared or learned more" than in Betty's classes. Betty also served as an advisor to many campus organizations prior to her retirement in 1986.

Mary and Bill Huey

William S. Huey attended New Mexico College of Agriculture and Mechanic Arts (now NMSU) after serving in the Air Force during World War II. With a degree in agriculture, Bill and his wife, Mary, who is also an Aggie, moved to Reserve, N.M., where he started his career as a game warden with the New Mexico Department of Game and Fish. His love and dedication to wildlife management led to a long and distinguished career. He served as chief of public affairs, assistant director and director of the department before being appointed cabinet secretary of natural resources for the state.

Mary shared her husband's love of animals and nature. After they relocated to Santa Fe, she worked for many years for both the national park service and the New Mexico State Highway Department as a cartographer. They traveled extensively but had a special passion for Africa, and they traveled there seven times over the course of 20 years.

Bill was honored as a conservation hero by the Nature Conservancy and received numerous other awards from wildlife preservation organizations. He and Mary were recognized as "Living Treasures" by the city of Santa Fe in 2001. During their 61 years of marriage, they shared their home with many special dogs, pea fowl, chickens, pigeons, cranes and more.

They also preserved their love of wildlife by establishing an endowment through an estate gift in NMSU's department of fishery and wildlife sciences to support students majoring in that 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.

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