The irony isn’t lost on Rick Mayfield. Today, he is a respected finance professional, consistent Jax State donor, and one of the newest members of the JSU Foundation Board of Directors. But there was a time, back when he was a Jax State student, that few could have envisioned him maturing into the upstanding citizen he has since become. “I’ve always been honest about this,” Mayfield said, an audible smirk in his voice. “I was a poor student during my undergrad. We all have different personality types. For me, if there’s this nebulous thing out there that I need to achieve to get this nebulous goal that I have no idea about, that doesn’t interest me.” He admits that he was mostly goalless during his time as a student and member of Sigma Nu Fraternity. “I didn’t really have a destination,” he said. So, I just took full advantage of just going to college and having fun.” Mayfield graduated from Jax State in 1990 with a degree in computer information and a minor in finance.
But neither his time nor his academic efforts, minimal as they may have been at the time, were wasted. It simply took a few years for Mayfield to fully realize his untapped potential. “I got the soft skills at Jax State,” he said. “I’m not a dummy. I just never applied myself. But at Jax State and being a military brat and moving around a lot taught me how to deal with people. Let me tell you, that’s 70 or 80 percent of the battle.”
Once Mayfield found his way in the world, he became a staunch supporter of both his alma mater and his fraternity. Over the years, he has given an estimated $500,000 (in cash, appreciated stock, and appreciated real estate), including funding, with his family, the John Mayfield Memorial Scholarship in honor of his brother, a Jax State graduate and Sigma Nu member.
Most recently, with the support of his wife, Christine, he donated three duplexes in Jacksonville that he purchased in 2012. “They were my first investments I ever made here in Jacksonville,” he said. A portion of those proceeds is earmarked for a new Sigma Nu house on Fraternity Row and part for other uses through the JSU Foundation, not only honoring his investment beginnings but also demonstrating how real estate can be transformed into meaningful support for students and programs. Furthermore, donating appreciated assets like real estate gives the donor a more tax efficient way of donating to the JSU Foundation. “Two things I’ll always be loyal to are Jax State and Sigma Nu,” Mayfield said. “Jax State and Sigma Nu gave me the early tools to succeed, and more important these days, fraternities give a sense of community and an opportunity for young men, some of whom would be very lonely otherwise, to have true friends they’ll keep for the rest of their lives.”
Having done his part, Mayfield challenges other alumni to do the same. “Giving can be contagious,” he said. “I know the alumni in my fraternity had been doing more and more when they saw others doing more. It should be a lot bigger. We need alumni, all alumni, to step up to the plate.” Founded in 1978, the JSU Foundation provides university supporters with opportunities that benefit Jax State students, faculty, facilities, and athletics.
By being named to its Board of Directors, Mayfield, along with its other members, oversees the application of the foundation’s more than $328 million in total assets.
Mayfield can’t help but laugh at the fact that he, with a well-earned reputation for partying while at Jax State, is now a respected member of such a distinguished group. “It’s ironic … going from partying all the time to now being considered a very responsible adult and professional,” he said. “People who knew me back then are generally surprised. They didn’t think I’d even be a successful trash man. Now, I’m on the JSU Foundation Board. I think it’s important for people to understand that you can go from somewhat of a screw-up to having a successful life and career. It gives people hope.”
Read more about Mayfield's story at www.jsu.edu/heritage
Do you own Real Estate that has appreciated in value over the years?
Whether it is your family home, a vacation property, farmland, or even commercial real estate, these assets can do more than serve as a financial investment or a cherished memory. They can become a legacy that transforms lives and furthers the mission of Jax State. With gifts of real estate, you have the opportunity to make a significant charitable gift now while continuing to enjoy the use of your property for the rest of your life.
If you are looking to make a gift with real estate, you have a number of charitable giving options. These options include an outright donation, bequest, and a retained life estate. Each of these options results in charitable tax deductions and an avoidance of capital gains tax or estate tax.
What Types of Real Estate Are Ideal for Giving?
• Primary residences
• Vacation homes
• Farmland
• Undeveloped land
• Commercial real estate
OPTION: An Outright Gift of Real Estate
If you are focused on making a gift of a specific value and have appreciated real estate (family home, family land, vacation home, etc.) that you no longer wish to own, you might consider deeding the property to the JSU Foundation as an outright gift.
Is This Gift Right for You?
• You possess real estate that has appreciated in value.
• You wish to make a significant gift without affecting your cash reserves.
• You seek to reduce your future estate tax liability and simplify your estate.
> Why Consider a Gift of Real Estate?
• Reduce Tax Burdens - Avoid capital gains taxes that might arise from selling appreciated property.
• Immediate Tax Benefits - Receive a charitable income tax deduction for the property’s current market value, minus the value of the life estate you retain.
• Simplify Your Estate - Relieve your family of future responsibilities tied to the property, such as maintenances and taxes.
• Maximize Your Impact - Make a meaningful contribution that furthers Jax State’s mission.
OPTION: A Bequest of Real Estate
Consider leaving a legacy that spans generations by including the JSU Foundation in your will through a bequest of real estate. This thoughtful approach allows you to designate a specific piece of property, such as your home, farm, or even a vacation house, ensuring your support continues beyond your lifetime.
A bequest involves designating the JSU Foundation as a beneficiary in your will, specifying that a particular piece of real estate will be transferred to the institution upon your passing. It’s important to notify the JSU Foundation of your plans, as this allows for proper preparation and ensures that your wishes are honored.
Is This Gift Right for You?
• You have a piece of property that holds sentimental or substantial value.
• You are interested in supporting Jax State without altering your current financial situation.
• You aim to minimize the estate tax impact on your heirs.
OPTION: A Retained Life Real Estate
This innovative giving option allows you to deed your property to the JSU Foundation while retaining the right to live there—or even generate rental income—for life. You would receive a charitable deduction based on the fair market value of your home minus the present value of the life tenancy you have retained. While you will continue to be responsible for property taxes, structural maintenance, insurance, and upkeep while you retain the property, any capital improvements you make may give rise to additional deductions.
Upon your passing (or the conclusion of a pre-determined term), the property’s value becomes a transformative gift to Jax State. This thoughtful gift would align with your philanthropic goals and your financial needs, all the while leaving a legacy that will benefit generations to come.
Is This Gift Right for You?
• You wish to support Jax State without liquidating your assets immediately.
• You have no current need for the proceeds of a property sale.
• Your property is free from debt and major obligations.
• You are looking to minimize estate taxes.
> Let’s Plan Together
The decision to gift real estate involves careful planning. The JSU Foundation will collaborate with you and your advisors to ensure the process aligns with your goals and complies with IRS regulations. Together, we can structure your gift to maximize its benefits for you and the mission you support.
> Take the Next Step
If you are considering a gift of real estate, we are here to help. Contact Kim Dalesandro, Director of Planned Giving, at kdalesandro@jsu.edu or 256.782.5606 to discuss how your real estate can become a part of your legacy with Jax State. Together, we will ensure that your gift impacts a mission that matters to you while it fulfills your charitable objectives and meets your financial and family goals.
Jax State Philanthropy Team
Alan Medders Vice President for Philanthropy and Executive Director of the JSU Foundation agmedders@jsu.edu
Kim Dalesandro Director of Planned Giving kdalesandro@jsu.edu
Bethany Dryden
Assistant Director of Annual Fund bdryden@jsu.edu
Josh Brady
Director of the Jax State Athletic Foundation jbrady@jsu.edu
Jeff Burger Football Philanthropy Officer jeburger@jsu.edu
Ashton Coats Athletics Philanthropy Officer acoats1@jsu.edu
Candace Epperson Stewardship and Donor Engagement Coordinator cepperson@jsu.edu
Mary Furlow Database Administrator mwfurlow@jsu.edu
Rosemary Harper Executive Assistant to the Vice President for Philanthropy roseh@jsu.edu
Kelli J. Holmes Associate Vice President for Philanthropy kjholmes@jsu.edu
Jamie Langley Philanthropy Officer jllangley@jsu.edu
Jack Lyle Philanthropy Officer jblyle@jsu.edu
We Can Help
Joseph Munster Senior Philanthropy Officer jmunster@jsu.edu
Justin Quinn Director of Philanthropic Services jbquinn@jsu.edu
Tammy Sallee Executive Assistant for Executive Director of Philanthropic Services tsallee@jsu.edu
Hunter Turner Philanthropy Officer hnturner@jsu.edu
Diane Winsor Prospect Research Officer dwinsor@jsu.edu
At the JSU Foundation, we aim to make your giving experience prudent, generous, and joyful. We are here to assist you and your advisors with planning and making gifts that support our mission. For more information about giving opportunities, contact Kim Dalesandro at 256.782.5606 or kdalesandro@jsu.edu. Visit our website at www.jsu.edu/plannedgiving for more details.