Endowments: A beautiful way to make a tribute to a loved one, providing a lasting legacy in their honor while benefitting students, scholars and supporting the work of the libraries, which is essential to collections building.
- What is an Endowment? - A donation by transfer of money or property to the institution which is then invested by the institution to earn interest on the principal amount. The principal remains untouched. Only the earned income from the endowment is used for general or very specific purposes, depending on the wishes of the donor. This allows for the donation to have an impact over a longer period of time than if it were spent all at once. Library endowments can be established with a gift of $10,000 or more and can be funded over a period of 5 years.
- Endowment Opportunities - Donor support is requested but not limited to the following areas:
- Library Materials Endowments:
- Scholarly journal subscriptions - $2 million - Journal subscriptions are the most timely and highly requested resources in academic research and inflation of these titles continues to rise at an average of 8% each year, while our materials budget consistently stays flat. An endowment for scholarly journal subscriptions will allow us to support journal subscriptions in growing and/or emerging teaching and research programs and purchase titles we could not otherwise afford.
- Library's book collections - $1 million - The scholarship of future students, faculty, alumni and friends depends on a library collection that is maintained in its excellence and accessibility. An endowed fund to support NMSU Library's book collections will allow us to develop and enhance in perpetuity the diversity, richness and completeness of our book holdings.
- Library Staff Development Endowment: - Providing training and development opportunities for Library staff
- "The Destination" Endowment: - Establishing NMSU Library as "The Destination" by improving user space and environments - furnishings, computers, etc.
Planned Gift: A way of perpetuating your support for the role the University plays in the lives of others. It also enables a donor to make a major gift that might otherwise not be possible.
- How does a planned gift work?
- Through a bequest a donor may leave to the University, a specific dollar amount, or reserve all, or a certain percentage, of the estate after provisions for family members and other beneficiaries have been made.
- The donation may be of cash, securities, real estate, works of art, or patent rights.
- The donor may stipulate whether a bequest is for the general support of the University or for a specific purpose.
- A bequest may also be made in honor or memory of another individual.
- All outright bequests to NMSU are exempt from federal estate taxes, and there is no limitation on the size of the gift.
Support the Library with a Gift for Current Use: These gifts help the library fund specific projects and resources immediately.
- Archives and Special Collections
- Funds for supplies and processing of collections
- Funds to hire student assistants to work in archives
- Digital Projects
- Funds to support digitization of library resources
- Esther Chavez Cano Social Justice Fund
- Funds to improve user spaces including specialized furniture for group and individual study spaces
Areas in need of current use funding include: