The Students Make It All Worthwhile

Sylvia Anderson Price

Sylvia Anderson PriceFulfilling the educational goals of future nursing students is high on Sylvia Price's priority list. She invested herself deeply in her profession as a staff nurse, supervisor and faculty member. Her professional success, along with her book royalties, has allowed her to establish the Dr. Sylvia Anderson Price Scholarship Fund to provide need-based scholarships to students enrolled in Ohio State's College of Nursing.

During her sophomore year at Ohio State, Sylvia interviewed with Frieda Stewart Shirk, assistant director at the School of Nursing. "Her questions were thought-provoking and compelled me to consider the pros and cons of a nursing career," said Sylvia. "After that interview, I was convinced nursing would be my professional career." She formed strong bonds with her close-knit group of fellow nursing students and has maintained a close relationship with her first roommate in nursing, Marilyn Bean Haver. They correspond and visit each other, and even roomed together at their 25th and 50th reunions.

Early in her career, Sylvia taught a pathophysiology course for undergraduate nursing students at the University of Michigan. At that time, there was not a pathophysiology textbook available in nursing and allied health. Along with her colleague, Lorraine Wilson, she submitted a book proposal to McGraw-Hill and signed the contract for the book Pathophysiology: Clinical Concepts of Disease Processes. It was published in 1978 and is now in its 6th edition.

In her role as a faculty member at the University of Michigan, she taught and conducted research in nursing administration, while also co-authoring four textbooks and several journal articles. After she retired to Holmes Beach, Florida, she accepted a position as an associate professor at the College of Nursing at the University of Tennessee in Memphis. "It was an exciting time for me because I had the chance to mentor and collaborate with several students in their writing endeavors, some of whom are now published authors," said Sylvia.

A nursing fellowship allowed Sylvia to follow her passion for nursing and complete her advanced degrees. The opportunities she experienced motivated her to give back to Ohio State. She supports the College of Nursing through current use gifts and a Charitable Gift Annuity, which provides a fixed annuity payment for life in exchange for a gift of cash or appreciated securities.

She was honored for her commitment to the college and was invited as the guest speaker for the sixth annual scholarship reception. "It was time to give back to Ohio State because it gave so much to me and was the foundation for many successes in my professional career," said Sylvia. "I take great satisfaction in knowing future students can be relieved from the financial pressures of paying for college and can focus their time and energy on studying and improving themselves."

Recently, a scholarship recipient from Central America wrote Sylvia to express her gratitude. The scholarship has had a tremendous impact and allows her to focus on her education and learning. Additionally, it will enable her to visit her mother whom she has not seen in more than four years. "Her letter of acknowledgment of the funding was so gratifying to me on a personal level," said Sylvia. "Letters like this make it all worthwhile!"

A charitable bequest is one or two sentences in your will or living trust that leave to The Ohio State University 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

"I give to The Ohio State University Foundation, a nonprofit corporation currently located at 1480 West Lane Avenue Columbus, OH 43221, or its successor thereto, ______________ [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 Ohio State or other charities.

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 Ohio State 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 Ohio State 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 Ohio State where you agree to make a gift to Ohio State 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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