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Presidential Scholarship Recipient Includes Gift to Loyola in Her Will

Bell Rock

Eva Urbanowicz Hill, Class of 1987, fulfilled one of her lifelong fantasies when she and her husband of 26 years sailed their boat from Annapolis, Maryland, to the Bahamas and lived abroad in the islands for four months before returning home.

Like most lifelong fantasies, it took preparation. She took a seven-month sabbatical, on a month's notice, from a successful corporate law practice in Baltimore. One of the tasks she completed in the whirlwind of activity was to get her affairs in order before setting sail. Unlike most fantasies, the preparation for this one included fulfillment of another.

"I was amazed at how easy it was and by the great reward I felt in hoping that someone would benefit the way I did," Eva says. "I had to make a will anyway and wanted to support Loyola in a bigger way."

Eva has done that by including a gift to Loyola in her will.

Eva grew up in Chicago, the oldest child of parents who'd made a voyage of their own. Polish immigrants who barely spoke English when they arrived, her parents worked hard to provide opportunities for Eva and her three siblings. They knew the importance of a good education, but they couldn't afford to pay for more than in-state tuition at a public university.

Eva appreciated all that her parents did. But she lusted after the warm climate of New Orleans and the promise of Loyola's journalism program. And if it weren't for the generosity of a donor she's never met, she'd never have been able to explore that side of herself. She's never forgotten how overwhelming it was to receive her Presidential Scholarship—to experience that mix of gratitude and generosity.

"I was terrified when I got here and intimidated by the students from private schools," Eva says.

But Loyola took her in, and those feelings transformed. She made friends in the honors program and elsewhere in the Loyola community. She loved that the campus had no walls, that New Orleans was so deeply a part of campus life. She looks back and believes that Loyola truly teaches the whole person—the body, the mind and the spirit.

So to have been able to include a gift to Loyola in her will is more than fulfillment of a dream for a traveler like Eva—it's a voyage circling back on itself. A young student who was able to attend the university of her dreams because of a donation has now made it possible for more students to travel that same path.

And as for Eva's travels, she loves coming back to New Orleans as often as she can to attend Jazz Fest and see her former classmates.

How Has Loyola Shaped Your Path?
Contact Kevin Maney at 504-861-5442 or kmaney@loyno.edu to share how Loyola has impacted your life and to learn how you can plan a gift to ensure future students receive the same opportunities. We would be happy to explain your gift options and help you find one that matches your goals.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Loyola University New Orleans 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

"I, [name], of [city, state, ZIP], give, devise and bequeath to Loyola University New Orleans [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 Loyola University New Orleans 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 Loyola University New Orleans 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 Loyola University New Orleans 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 Loyola University New Orleans where you agree to make a gift to Loyola University New Orleans 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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