Honoring her Parents and Accomplishing Philanthropic Goals

Barbara Ann Cole wanted to honor her parents with a scholarship fund. At the same time, the University of South Florida College of Nursing was looking for ways to increase the number of nurses with doctoral degrees because a nationwide shortage of qualified nursing faculty contributes to an overall nursing shortage.

The Community Foundation Tampa Bay brought the two together and the Dr. Hershel and Hazel Cole Scholarship was born.

The scholarship — started before Barbara Ann Cole’s death and endowed by her estate — provides support to three students each year who are pursuing a Doctor of Nursing Practice degree.

With help from her advisors and the Community Foundation Tampa Bay, Barbara Ann came up with a giving plan that offered financial security to her during her lifetime and assured the scholarship would continue long after her death.

She chose to put her philanthropic investment in a Charitable Remainder Unitrust (CRUT). She received a tax deduction for her gift to the trust. And the trust provided an increasing stream of income to her. After her death, the assets of the trust transferred to the scholarship fun to ensure it would continue.

Learn more about giving plans that can provide you income for life and a future gift for charitable causes that are important to you.