Ron and Penny Wills

USING AN IRA FOR PHILANTHROPY, RON AND PENNY WILLS CHAMPION NMSU STUDENT SUCCESS

Ron and Penny Wills may call Prescott, Arizona home, but their hearts remain firmly planted in Las Cruces. Their story began at NMSU, where Penny took a job in student development, and Ron, a 1974 business graduate, worked in the computer center.

“That was one of the best jobs I ever had,” Ron recalls. Penny was tasked with registering summer students for the fall semester, which included verifying SAT and ACT scores. When the reports didn’t meet her standards, she contacted the computer center for assistance. There, she met Ron, and a friendship blossomed as they worked together to resolve the issues. Forty-three years later, the Wills remain happily married, enjoying their retirement in Prescott, Arizona. “That says it all,” Penny reflects.

Now, they spend their days walking and exploring the picturesque foothills of the Bradshaw Mountains and Sierra Prieta range. Their commitment to helping others endures through their philanthropy, with a special focus on Ron’s alma mater and their shared connection to NMSU.

By setting up a qualified charitable distribution (QCD) from Ron’s individual retirement account (IRA), the Wills can support NMSU with multiple scholarships in a tax-friendly way. “If you help one person, hopefully, it will inspire others,” Penny says. “We’re always looking for ways to help someone get one step ahead.”

Humble Beginnings

Both first-generation college graduates, Ron and Penny came from humble yet distinctly different backgrounds. Ron describes himself as an “Army brat,” having lived all over the world but who eventually settled in White Sands, while Penny grew up in Cincinnati, surrounded by a close-knit family with roots in southern Ohio.

“We laughed so much on our drive to meet her parents,” Ron recalls. “Everywhere we went, Penny would point out another relative’s home: ‘That’s my cousin’s house, and there’s another cousin’s place.’ I joked that she had to move to New Mexico to find a husband she wasn’t related to!”

One thing they both had in common, though, was their dedication to helping college students get ahead. “NMSU students are typical students – look at their dreams and see what they want to do, then help them achieve those dreams and explore the world,” Penny advises.

A Tour of America

Their professional paths led them on an exciting journey from NMSU in Las Cruces to Portland, Oregon; Rome, Georgia; Decorah, Iowa; and Prescott, Arizona, where Penny became president of Yavapai College in 2011. Penny had earned an impressive array of degrees: a Ph.D. in Higher Education from Michigan State University, an M.S. in Counseling from Miami University in Ohio, and a B.S. in Education from the University of Cincinnati.

Meanwhile, Ron rode the wave of the burgeoning computer industry, taking on data analysis roles at NMSU and several other colleges and universities. He served as Computer Center Director at Portland State University and later worked at a private IT corporation. Together, they built a life devoted to education and innovation, always eager to embrace the next challenge.

In the early 2000s, Ron and Penny moved to Arizona to care for their aging parents—and for Penny to take on a second college presidency. Despite Arizona’s proximity to New Mexico, the couple quickly noticed some striking differences between the two states. “Politically and food-wise, they’re very different,” Ron laughs. “Mexican food here doesn’t even have green chilies in it!”

Penny also observed a contrast in attitudes toward diversity. “In Arizona, there doesn’t seem to be much celebration of the diversity of its people, but in New Mexico, it’s simply part of life,” she says. “There’s a peacefulness about New Mexico,” she adds, believing this sense of harmony deeply influenced their philanthropic choices.

The Decision to Give Back

“We don’t have children, so we had to decide where our money could do the most good,” Ron says. “We’re big supporters of public education, so we agreed that higher ed was the best choice.”

True to their long and distinguished academic careers, the Wills have contributed to all the universities Penny attended, but most of their gifts are directed at NMSU. Their generosity includes several endowed scholarships, such as the Ronald and Penelope Wills Endowed Scholarship, which supports Native American graduate students. “By sharing their knowledge with future generations, these students have the potential to uplift their communities and inspire others to follow in their footsteps,” Penny says.

The Wills are also strong supporters of the Aggie Cupboard and have established an endowed scholarship in honor of J. Mack Adams, a computer science professor in NMSU’s College of Arts and Sciences who worked with Ron and founded NMSU’s Computer Center.

In addition to their current giving, the Wills arranged a gift through their estate for the NMSU Foundation, earning them membership in the 1888 Society. After creating numerous scholarships and legacy gifts, they met with their financial advisor to ensure their philanthropy was impactful and sustainable for the long term. There, they learned about the qualified charitable distribution—a tax-smart strategy for making charitable contributions directly from an IRA—and met with the NMSU Foundation to put the gears in motion.

Available to those 70½ or older, a QCD allows you to direct distributions from your IRA to a qualified charity like the NMSU Foundation. QCDs aren’t taxed or included in your taxable income, and if you’re 73 or older, they can count toward your required minimum distributions (RMDs). Even better, you don’t need to itemize your tax return to take advantage of this benefit.

The Wills encourage others to explore options like a QCD to maximize the impact of their philanthropy. “The best part is that you can see the difference your scholarships are making right now and learn how students are benefitting today,” Penny says. “Our hope is that as we continue to contribute, students won’t look at opportunities and think, ‘I can’t do that.’ We want them to dream big without the burden of worrying where the next penny will come from.”

Contact Steve Covington, Executive Director, Estates and Gift Planning, New Mexico State University Foundation, at (575) 201-9783 for more information on QCDs and other planned giving options.

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