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Papen Shows His Aggie Pride in Many Ways

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John and Margy Walker Papen were honored at the President's Associates Ball for their support of New Mexico State University.

John A. Papen III was not really thinking about going to college. He started working in his uncle's bank while he was still in high school, so he felt he was "all set." However, both his father and uncle believed that a college education was important, and with New Mexico State University located right in John's hometown of Las Cruces, N.M., they felt he should take advantage of the opportunities the university offered.

John took their advice and enrolled in college. The business major continued his bank job in addition to his studies, leaving little extra time for him to participate in other campus activities.

Graduating with his bachelor's degree in 1968, John continued to work at First National Bank of Doña Ana County. He earned additional degrees from the Colorado School of Banking at the University of Colorado in 1973 and the National Commercial Lending School at the University of Oklahoma in 1976.

John's career spanned 50 years. He served in a variety of leadership roles, including head of the consumer and commercial lending divisions.

He was named executive vice president of First National Bank in 1988 and later held that same position with Wells Fargo Bank in Doña Ana County until his retirement.

"From my earliest days at the bank, I remember my uncle saying how important it was to invest in the local economy," John says.

One of those investments was New Mexico State University. John's uncle and mentor, the late Senator Frank Papen, was founder and president of the bank. The senior Papen was also a champion for the university who took on a challenge from former NMSU President Gerald Thomas to raise money for the university from the local community. His efforts evolved into the President's Associates scholarship program.

John joined the NMSU board of directors for the President's Associates program in 1998 and served as its president during his tenure. He and his wife, Margy, also established an endowment to support PA scholarships.

"I was so impressed by the caliber of students who receive this scholarship," John says. "They bring a special excellence to our campus."

John has now given many years of service to NMSU. In addition to the PA program, he served on the board of the Aggie Sports Association. He is currently a member of the NMSU Foundation board, serves as treasurer and chairman of the finance committee, and president of the NMSU Sports Enterprise Corporation. The College of Business named John its distinguished alumnus in 1997 and inducted him into its hall of fame in 2002. The university awarded John an honorary degree in 2011.

In addition to all that he has done for NMSU, John is equally involved in several community organizations, including the La Mesa Lions Club, the NM Bankers Association, NM Amigos and Rotary International. All of these organizations have recognized him for his commitment to service.

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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