» Annual Giving
Unrestricted Gifts — These gifts are among the most valuable to New Mexico Military Institute, because they allow the Institute to allocate funds wherever the need is greatest, and to take advantage of unique opportunities as they arise. Your unrestricted contribution may be used to support costs associated with financial aid, educator development, cadet equipment, facilities, and much more.
Annual Scholarships — Annually funded scholarships are those that are funded each year by friends and alumni. Gifts made to annual scholarships are not invested, and do not earn additional income. An annual gift, in any amount, may be used to provide a scholarship for deserving cadets. As an annual scholarship donor, you specify the scholarship name and criteria. Annual scholarships give you the flexibility in cost and commitment. Should you wish to pledge your support over several academic years, we encourage you to work with Foundation representatives to create a customized scholarship program that works for you.
An endowment is an amount of money ($10,000 minimum) given to the NMMI Foundation with a stipulation that the funds are invested to earn annual interest rather than spent immediately. A portion of the annual earnings are used to award scholarships, provide faculty development or support NMMI programs.
Endowments can be established with cash gifts, securities or other property, or may be funded with a series of gifts made over time. They may also be funded through a bequest or other defferred gift, or through a combination of lifetime and deferred gifts. Earnings will be awarded once the endowment reaches the minimum required funding level. Because the principal of the endowment is never spent, such a gift represents an enduring tribute to the person honored by the fund.
» Planned Giving
Donors who choose to established planned gifts to benefit New Mexico Military Institute ensure their legacy will continue for many generations. Estate funds may be added to an existing endowment or used to create new opportunities at NMMI. Financial planning for the future allows you to direct estate funds to the area of your choice.
Will Bequest — One of the simplest ways to give is through your estate. You can made a gift bequest after others are provided for of a dollar amount, specific property, a percentage of the estate or what is left (remainder) to the NMMI Foundation.
Charitable Remainder Trust (Irrevocable, Annuity and Unitrusts) — You can select the rate of return and choose a fixed or fluctuating annual payment from these income arrangements. Generally, capital gain taxes are avoided and you will receive a tax deduction based on the age of the income recipient and the rate of return.
Charitable Lead Trust — Assets (cash or securities) are transferred to a trust that pays income from the fund to the NMMI Foundation for a predetermined numbers of years. At the end of the time period, the trust terminates and the assets are given back to the donor or other designee. An income tax deduction is allowed for payments made annually to the NMMI Foundation.
Deferred Gift Annuity — Similar to a Gift Annuity except that you determine the future date for which payments begin, i.e., retirement. The deduction and annual rate increase the longer you wait to begin receiving payments.
Gift Annuity — In exchange for an irrevocable gift of cash, stock or securities, the NMMI Foundation agrees to pay you or other beneficiary a guaranteed income for life. You can receive an income tax deduction in the year of the gift and part of the income is tax-free. Upon your death, the gift remainder is managed by the NMMI Foundation for the benefit of New Mexico Military Institute.
Life Insurance — A simple way to make a significant future gift is to name the NMMI Foundation as owner and beneficiary of your existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability in the year of the gift.
With the purchase of a new life insurance policy naming the NMMI Foundation as owner and beneficiary, together with a modest annual payment, you will receive an income tax deduction for each premium payment made while providing a major gift to the NMMI Foundation.
Life Estate — An arrangement in which a donor gives his/her home to the NMMI Foundation while retaining the right to live there for the remainder of his/her life. The donor receives an immediate income tax deduction. The NMMI Foundation may sell the property upon the donor’s death.
Pooled Income — Similar to a mutual fund, you receive a portion of the fund’s annual income. You will also receive a tax deduction and usually avoid capital gains taxes if the gift is made with appreciated securities. Additions can be made easily. Upon your death, the fund becomes available to the NMMI Foundation.
Retirement Accounts — Retirement Account funds (IRA’s or company plans) beyond the comfortable support of yourself or loved ones may be given (i.e., life insurance proceeds) to the NMMI Foundation by proper beneficiary designation. You might be able to make a Qualified Charitable Distribution directly from your IRA trustee and transfer those funds directly to the NMMI Foundation. Up to $100,000 can be transferred to the NMMI Foundation, per taxpayer per year.
Revocable Charitable Living Trust — The revocable trust provides for gifts of cash, property, and/or income now, while retaining the rights to retrieve the property if necessary. There is no tax deduction for the gift and typically, there are savings in estate settlement costs if the trust is not revoked.
Matching Gifts — Often overlooked as a method of giving, matching gifts are offered by many corporations to encourage employees to make charitable gifts to eligible institutions like the NMMI Foundation. You many have an opportunity to double or in some cases, even triple your financial support to New Mexico Military Institute. Many times, gifts from spouses or retirees are also eligible. To find out if your employer has a matching gift program, contact the personanel department for eligibility requirements and to obtain a matching gift form.
Memorial Gifts — Memorial contributions to the NMMI Foundation can be an excellent way to honor a loved one and help future generations of cadets through scholarship endowments, etc. The NMMI Foundation will notify the family of your contribution without disclosing the amount of your gift.
Non-Traditional — Boats, cars, land, jewelry, paintings etc.