Support for Nursing Students Improves Tomorrow's World
Gerald "Jay" Woldt is a retired career nurse, serving first as a certified nurse anesthetist in the Army Nurse Corps for 21 years and then as a civilian for another 21 years. He did not attend the University of Wisconsin-Eau Claire, but he grew up in nearby Chippewa Falls, Wis. According to Woldt, he has long been impressed by the quality of UW-Eau Claire's nursing program.
"Nursing is a wonderful career, especially for families with children because it's so flexible," said Woldt. "There wasn't a day that I didn't look forward to going to work. I thoroughly enjoyed my profession. In anesthesia you had the wonderful opportunity to administer anesthesia to the very young preemie all the way to the elderly, so each day was a totally different challenge and opportunity to apply many techniques.
A few years ago, Woldt established a scholarship with the UW-Eau Claire Foundation. He's always had a passion for encouraging others in the field and was looking for a way to continue that effort. Through a planned estate gift, Woldt has shown his commitment to supporting nursing students in a powerful and meaningful way.
The Gerald D. Woldt Nursing Scholarship, a $4,000 award, is presented to one undergraduate and one graduate nursing student annually, and gives preference to males who enroll in the nursing program.
"Nursing is a profession that is under-represented by the male population," said Woldt. "It has been a very rewarding career for me and I would like to see more males enter the nursing field. Today I am seeing more males in nursing when I take my senior friends to the hospital and to appointments.
In the Army, Woldt estimates that male nurses represented about 40 percent of all nurses. The latest Census Bureau reports that in the civilian sector, the proportion of male nurses has more than tripled since 1970, from 2.7 percent to 9.6 percent.
Woldt didn't start out looking for a career in health care. In 1962, he worked nights as an orderly at the University of Wisconsin in Madison as a way to earn some extra money while he took college courses in accounting. That's when staff members on a neurosurgery unit took notice of his affinity for patient care and encouraged him to go to nursing school.
"The resident neurosurgeon, Dr. Meyers, physically took me to a school in Wausau to recommend me to the administration," said Woldt, who was one of five male students in the program and one of the two who eventually graduated. "He also took me to the operating room two nights to observe him doing surgery and sat me next to the anesthesiologist. After that, I knew I was attending nursing school and heading right on to anesthesia."
In much the same way, Woldt is now helping to identify students with a similar heart and high potential and, with scholarship monies, getting them on their way to fulfilling careers in health care.
Woldt obtained a bachelor of science degree in nursing, a master's degree in nursing administration and a minor in education. He became a CRNA while serving in the U.S. Army, retiring with the rank of lieutenant colonel in 1987.
There are many ways to make a gift in support of UW-Eau Claire. Please contact John DeLestry at 715-836-3819 or firstname.lastname@example.org to learn more.
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 examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. 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. 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. 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 University of Wisconsin-Eau Claire Foundation 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
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 University of Wisconsin-Eau Claire Foundation 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 gift 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 receive an immediate federal income tax charitable deduction. 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 University of Wisconsin-Eau Claire Foundation as a lump sum.
You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 University of Wisconsin-Eau Claire Foundation 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 University of Wisconsin-Eau Claire Foundation where you agree to make a gift to University of Wisconsin-Eau Claire Foundation 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.