A cash pledge over a period of years is not deductible until you actually pay. For example, a $30,000 cash gift pledged over three years ($10,000 paid each year) in a 28% tax bracket could save you $2,800 in taxes in each of the three years.
Make your gift online with a credit card. We accept Visa, American Express, Mastercard and Discover.
It takes just a few minutes to launch a recurring gift in which automatic monthly payments are charged to your credit card through PayPal.
New Mexico Military Institute employees can provide support to the fund(s) of your choice through payroll deduction. To setup a payroll deduction, email the NMMI Payroll Clerk.
You can double or even triple your donation with a matching gift from your employer. Contact your company’s personnel department for more information about their matching gift program and to obtain a matching gift form.
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.
Endowments
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 deferred 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 make 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 may 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.
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
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 personnel department for eligibility requirements and to obtain a matching gift form.
Memorial
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.
Other
NMMI can work with you on non-traditional donations through boats, cars, land, jewelry, paintings etc.
You may make a gift in honor of a loved one, a graduating senior, a grandchild or a favorite teacher or coach. You also may want to remember a loved one with a memorial gift. Let us know the name of the person you wish to honor or remember when you make your gift. We will send you a receipt for the gift, and we will notify the honoree or the family of the loved one of your kindness. For more information, contact the NMMI Foundation office at 575-624-8035.
“We believe that many alumni and patrons would find inurnment in the NMMI Columbarium at New Mexico Military Institute to be a meaningful last resting place.”
Harris E. Kerr 1971 JC
The New Mexico Military Institute Columbarium was dedicated on October 18, 2012.
For more information about reserving a niche, click here.
Appreciated stock you have held for more than one year makes an excellent gift. Generally, you can receive a tax deduction for the full market value up to 30% of your adjusted gross income and avoid capital gains taxes.
Bonds and mutual funds are similar to cash in their tax treatment with a tax deduction for the full value of the gift. State, Municipal and U.S. Government Bonds are welcome.
Your wise market investment is a wonderful gift to the NMMI Foundation. By donating appreciated stock, you can avoid long-term capital gains tax and deduct the full market value on your tax return. For assistance with making this type of gift, contact the NMMI Foundation by calling 575-624-8035.
We’re here to make your charitable donation as easy as possible. Contact us at 575-624-8035 if you have any questions
The NMMI Foundation, Inc. manages scholarship endowments that each year provide over $900,000 in financial assistance to students attending New Mexico Military Institute. Endowments are created by donating $10,000 or more to the NMMI Foundation. Each endowment has a criteria established by the donor; however, all scholarship recipients must meet the minimum scholarship criteria set by the NMMI Scholarship Committee. Scholarships from the NMMI Foundation, Inc. are awarded through the NMMI Scholarship Committee.
If you are interested in creating a scholarship endowment, contact the NMMI Foundation at foundation@nmmi.edu. Or call the Foundation Office at 575-624-8035.
Learn more about the Alexander C. Waterhouse Scholarship
