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Caring About Education, Health & Seniors
Donor: Anne B. Little Fund
In August of 1998, Anne B. Little, an Albuquerque resident since 1956, passed away at the age of 73. Prior to her death, in 1991 Anne Little's attorney suggested she meet with Ray Zimmer, a board member from Albuquerque Community Foundation. Anne was completing her estate plan and with no immediate family she needed a recipient for her estate. The result of that meeting was the Anne B. Little Revocable Trust naming Albuquerque Community Foundation (ACF) as the beneficiary.
ACF was notified of this estate gift consisting of a personal residence with all contents; personal property including a car and jewelry; and oil and gas properties. During the following months, ACF and Mrs. Little's trustee arranged for a complete inventory, appraisal, and sale of all real estate and personal property. The estate's real challenge, however, was in the oil and gas properties that included leases on federal, state, and Indian-owned land in New Mexico, Texas, Colorado, and Alaska.
When the ACF executive committee met to formally accept the gift, they also named a committee of board members to oversee liquidating the assets. Curtis Brewer, Associate Broker with Berger Briggs Real Estate coordinated the sale of real estate and personal property. Larry Willard, Wells Fargo Bank President, and Steve Moise, Moise & Co., both of whom have experience in the oil and gas business, assumed the complicated and time-consuming task of liquidating the oil and gas properties. Four years later, almost all of the oil and gas properties have been sold. The original appraisal put the value at roughly $200,000. However, through strategic planning, the gift brought over $1 million to ACF.
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