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A Gift of Education

Edna Sherling Boatright

Edna Sherling Boatright included a gift from her estate to Loyola to fund a scholarship in her father's memory for students earning their teacher certification.

Edna Sherling Boatright's love of children was evident throughout her life's work as a teacher and can still be seen today through her many charitable donations to organizations such as St. Jude Children's Research Hospital in Memphis and the Shriners Hospitals for Children in Shreveport.

Loyola University New Orleans is also a beneficiary of her generosity. She gave a percentage of her estate to Loyola to establish a scholarship in memory of her father, Emmett Sherling, for students enrolled in the teacher certification program.

According to Beverly S. Petty, Edna's cousin, "Edna always told us that she made her living from children—all that she had came from children, and all that she wanted to do was to give back to the children. We are all so proud of what she has accomplished."

Known throughout her teaching career as Ms. Sherling by her students, Edna served as teacher, supervisor and coordinator in the Caddo Parish public school system for 36 years. She promoted the teaching profession by serving and taking on leadership positions in professional teaching organizations. Through her work, she touched so many lives.

It is not surprising that she and her father believed in higher education. Edna earned a bachelor's as well as a master's degree in education. Later, she encouraged her students to go to college and did everything in her power to help her students get there, often visiting with parents if necessary. Her father, Emmett, was particularly devoted to the Jesuit priests in his parish and often recommended Loyola to the young people he knew.

The Emmett Lee Sherling Endowed Scholarship at Loyola will provide future generations of teachers with opportunities to receive a Jesuit education while earning a teacher certification. Thanks to Edna Sherling Boatright's gift, teachers educated at Loyola will follow her into the classroom and share their knowledge and experience.

Like Edna you can give back to Loyola to help the next generation of educators with a gift in your will or estate plan. Simply contact Kevin Maney at 504-861-5442 or kmaney@loyno.edu 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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