Tarleton Grad Dwain Mayfield Honored as Texas A&M Distinguished Alumnus

A. Dwain Mayfield

2018 Texas A&M Distinguished Alumnus Honoree Dr. A. Dwain Mayfield

Tarleton State University graduate, A. Dwain Mayfield, has been named a distinguished alumnus of Texas A&M University for his dedication to both schools. Dwain and eight other 2018 honorees were celebrated last week at a gala hosted at Reed Arena on the Texas A&M campus in College Station.

"We are looking for people who have risen to the pinnacle of their profession and made a difference in both their communities and our university," says Kathryn Greenwade, vice president of The Association of Former Students at Texas A&M.

Dwain earned an associate degree at Tarleton in 1957, then bachelor's and master's degrees in civil engineering from Texas A&M and a master's in business administration from TCU. He received an honorary doctorate of humane letters from Tarleton last spring for his involvement with students and his philanthropic support.

His professional career spanned more than 40 years in the aerospace industry. He played a major role in the success of the F-16 fighter jet as an engineer at Fort Worth's General Dynamics, now Lockheed Martin, advancing to vice president of program development where he was in charge of worldwide marketing.

Dwain now serves on the board of directors for the Tarleton Foundation Inc., is an advisor to the university's aeronautical team and a member of the Dean's Circle for the College of Science and Technology. He also serves on the School of Engineering's Engineering Advisory Board. He and wife, Lynda, established an endowed scholarship at Tarleton for engineering students.

Dwain has chaired the board of The Association of Former Students at Texas A&M and served as a member of A&M's President's Advisory Council and the Dwight Look College of Engineering Advisory Council. He is a member of the A&M University System Chancellor's Century Council.

You, like Dwain, can make a difference for Tarleton students. Contact Ashleah Baker at abaker@tarleton.edu or 254-968-9421 to learn more.

 

A charitable bequest is one or two sentences in your will or living trust that leave to Tarleton 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

Bequest Language

"I, [name], of [city, state ZIP], give, devise and bequeath to Tarleton State University Foundation, Inc. [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

"I, [name], of [city, state ZIP], give, devise and bequeath to Tarleton State University [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 Tarleton 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 our 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 Tarleton 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 Tarleton 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 Tarleton where you agree to make a gift to Tarleton 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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