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The Value of Education

Maria Guadalupe Carmona-Montalvo in the lab

Maria Guadalupe Carmona-Montalvo is a senior at New Mexico State University and a recipient of the Richard and Cynthia Leza Endowed Scholarship Honoring John Hernandez.

Richard Leza's mother, Corina, treasured education, and her legacy to her 10 children was an opportunity to pursue higher education.

"The values that my mother instilled in me are what inspired me to establish four endowments at New Mexico State to benefit the College of Engineering," Richard says.

"During my time at NMSU, financial assistance was not readily available to students," he says. "I now want to relieve this financial burden from future students so they can concentrate on learning and, yes, have some social time, too."

Richard, who graduated with a bachelor's degree in civil engineering in 1973, grew up in Placitas, a colonia in Hatch, New Mexico. While attending NMSU, he worked a graveyard shift at White Sands Missile Range to support his wife, Cindy, and their son, Richard Jr.

"From a Latino who was dirt poor and learned in high school that he was gifted in math," Leza said of himself, "I am now planning to make additional gifts to NMSU in honor of my wife, Cindy, and my mother, Corina, through my estate planning."

Richard met Cindy after he moved to Los Angeles following his high school graduation. The couple married in 1967, and she has been by his side for more than 50 years. They will leave a legacy bound to impact many lives.

"NMSU is family," he says. "I believe that endowments are a wonderful way to remember someone special while making sure your generosity will benefit NMSU students for years to come." As a result of documenting their estate gift with the NMSU Foundation, the Lezas recently became members of The 1888 Society.

Now retired, Richard spent more than 40 years in public, private and nonprofit organizations and as an entrepreneur and a venture capitalist.

"Being able to leave an estate gift is very important to me," he says. "I want to assist future students by continuing financial aid for students willing to achieve the impossible. I had to constantly worry about income while at NMSU, but I want students to concentrate on their education and not financial worries."

Richard and Cindy Leza

Richard and Cindy Leza

In the fall of 2017, Richard established the Richard and Cynthia Leza Endowed Scholarship Honoring John Hernandez, former dean of the College of Engineering. Richard's previous commitment to NMSU also includes the Richard L. Leza Endowment, Kenneth White Endowed Scholarship Fund and the Richard & Cindy Leza Library Acquisitions at NMSU.

"I strongly believe that NMSU gave me a strong foundation," he says. "My professors, especially John Hernandez and Ken White, were always willing to listen to me and encourage me to accomplish my goals. In addition, I want to be known as the alumnus who dedicated his life to encouraging and supporting Latinos in STEM degrees."

Support What Matters Most to You

Like the Lezas, your future gift to the NMSU Foundation can be a meaningful way to show your gratitude for the education you received. Contact Steven Covington at (575) 646-3190 or (800) 342-6678 or plannedgiving@nmsufoundation.org to learn about your giving options.

Breaking Down Barriers

Maria Guadalupe Carmona-Montalvo

Maria Guadalupe Carmona-Montalvo believes that, with a good education, she can transcend the environmental obstacles and challenges that she has faced. (Courtesy photo)

Maria Guadalupe Carmona-Montalvo, a senior at New Mexico State University and a recipient of the Richard and Cynthia Leza Endowed Scholarship Honoring John Hernandez, began her formal education in South-Central Los Angeles. She is the fourth of five children and her family plays a huge role in her life. One of her earliest memories is sneaking away from home to go to her sister's classroom.

"The teacher thought that it was cute that I, too, wanted to go to school, and he let me stay," Maria says. "I was about three years old. I did not know then what I wanted to study, but I knew that I wanted to learn."

Her lifelong desire for education is what led her to the NMSU community, where she is double-majoring in chemical engineering and biology with a minor in biomedical engineering.

Before the COVID-19 pandemic forced the New Mexico State University system to move classes online for the remainder of the Spring 2020 semester, Maria commuted from Deming, New Mexico, to the Las Cruces campus every day—approximately 120 miles roundtrip. Deming is a city known to have one of the highest rates of homelessness among K-12 students in the nation. As a long-time displaced worker, Maria, too, faces housing insecurity and believes that, with a good education, she can transcend the environmental obstacles and challenges that she has faced.

"I want to give back to NMSU and all of the scholarship committees that continue to pull me back from homelessness," she says. "The Richard and Cynthia Leza Endowed Scholarship Honoring John Hernandez allows me to continue on this journey. There is no other place that I would rather be than in a classroom or study room getting that much closer to graduation."

Last year, Maria joined the American Institute of Chemical Engineers Executive Student Committee to ensure that all chemical engineering students get a quality and equitable education. She is also working on an inclusion program to open access to laboratory research for special needs students.

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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