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Remembering the Past, Shaping the Future

Dr. Kathryn Holten and Dr. Wayne Clark

Dr. Kathryn Holten ’79 and her husband, Dr. Wayne Clark

Dr. Kathryn Holten '79 and her husband, Dr. Wayne Clark, included in their estate plans a generous bequest to Loyola University New Orleans to establish an endowed scholarship in memory of Kathryn's parents, Dr. Thomas George Holten, DDS '42 and Kathryn Wetta Holten. Their gift will support scholarships for students at Loyola, and their generosity will make a meaningful impact on the next generation. With this gift, they have honored loved ones while improving the lives of others.

"We are grateful and humbled that we have been successful enough to contribute to the next generation of educated leadership," Kathryn says. "We are also delighted that my parents' names will live on in the name of the scholarship, as they were not people who sought credit, yet were so quietly influential in so many lives."

As she reflects on the partnership her father and mother shared for more than 50 years, she observes that the foundations for everything she and her siblings had experienced in their lives "came through the talented artistry of my father's hands and my mother's stewardship of our rambunctious household."

Her parents raised five children who attended parochial schools through high school—three of whom attended Catholic colleges. Her father shared an abundant love for nature and curiosity about all things, a trait seen in his garden and cast sculpture collection, Kathryn says. A former dancer, her mother had an outgoing personality and artistic spirit.

"I realized the extent of Loyola's contribution to their lives and mine, and that a gift in their honor to Loyola University would be a perfect testament to their commitment to certain fundamental values," Kathryn says.

Their values and much of her personal experience as a student at Loyola have informed her personal choices, including a career of service and leadership. Now those values will be carried forward into the future through a named scholarship.

Kathryn received undergraduate degrees from Loyola in journalism and modern foreign languages, then went on to earn a master's degree and doctorate in medieval studies and French language and literature from Tulane. She began teaching French at Tulane, where she met her husband, Wayne. Since, she has spent years working in higher education administration, first at Winthrop University in Rock Hill, South Carolina, and now at Brevard College, in Brevard, North Carolina.

Her common curriculum experiences pursuing studies in medieval studies and French literature led her into higher education teaching and administration, she says. Ultimately, they led her into a very fulfilling career in development, alumni relations and enrollment management. All of these fields depend on the capacity to develop genuine and authentic relationships toward shared goals, she says.

Today, as vice president for philanthropic development at Brevard College, Kathryn sees firsthand how philanthropic gifts are used and can attest that each estate gift impacts the lives of students, faculty and staff. Her family's gift in honor of her parents will continue their legacy of support for the areas about which she is so passionate.

"I wanted to pay it forward, to provide other college students with the ability to afford a Loyola education where they can study and learn in an environment that not only provides a degree and a personal future, but also contributes to the sustainability of community," Kathryn says. "A gift to higher education is a testament to the belief that we can share in the future, and what we shape going forward must be profoundly good."

Honor a Loved One With a Gift

You can make a future gift to Loyola University in honor or tribute of someone special to you. Contact Kevin Maney at kmaney@loyno.edu or 504-861-5442 to learn more.

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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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