Some 30 years later, the gratitude felt by Nancy Collum (UTC '78) still bubbles like a volcano erupting. Goose bumps come to the surface of her skin and a grin of awe appears as she stands next to Ann Skadberg, the daughter of legendary, larger-than-life Andy Holt, at a UT event.
"The scholarship I received was named in honor of her father, a former UT president," Nancy says.
As an Andy Holt Scholar — the most prestigious academic scholarship at the time - Nancy's tuition and books were fully paid. The philanthropic roots of Holt anchored Nancy's educational journey as a business administration major at UTC.
Long before they met, she felt connected to Ann (UTK '62). And so do countless others.
During the event, Ann and her husband, Dean (UTK '61) are repeatedly approached by students. "Thank you for my scholarship," says one. "Your gift is getting me through school." Ann and Dean are touching many lives by investing in UT as Holt once did.
Nancy still feels as if she is standing in the young girl's shoes because "I knew exactly how she felt," she says. "I still feel the same sentiment. I was so proud to be an Andy Holt Scholar at UTC."
"I remain grateful for that scholarship. Even then, I tried to pay it forward by serving and giving back as best as I knew how, by being involved with alumni activities and the student alumni council," she says. "Even before I was an alumna, I felt connected."
Growing up in the East Brainerd neighborhood, UTC was in Nancy's backyard, so she commuted to campus when she became a Moc. Forgoing a home-cooked meal became the norm.
"I wanted to volunteer at the alumni events or study on campus," she says of her absences from the dinner table. Instead, pizza sufficed after she dug through the trunk of her car - her mobile closet - for a change of clothes. "I loved being in the midst of everything on campus."
That sense of place and shared purpose has never left Nancy. Living just blocks away from campus in Chattanooga's Historic Fort Wood District, she's visited every state but Hawaii and traveled the world, but there's no place like UTC. She wants to keep it that way for future students, so she has invested a portion of her retirement plan in UTC. "I hope a student who is smart and trying to discover their own path will have the opportunity to grow and thrive, like I did."
"I am a regular person with a regular job, without a family fortune, and I can still help a student," she says.
Amid the cardboard boxes filled with class registration computer punch cards in the UTC gymnasium, Nancy wasn't quite sure what she wanted to study. "I was always envious of those who knew they wanted to be a doctor at the age of 10," she says. "I had no such premonitions."
Nancy has always been artsy. She long appreciated those disciplines that stretch the creative mind and don't always fit so neatly in a box. From singing in college choirs to her church choir to staffing the box office at the Chattanooga Theatre Centre, she easily finds her rhythm.
Her college electives — English, French, music — filled her right-brain tank, "but I knew I needed something more," she says. "I thought I was more likely to be able to earn a living with a business degree than if I majored in liberal arts. My grandmother asked me weekly about becoming a teacher or a nurse because she thought those were the only options a female had at the time."
She honed her left-brain skills and declared accounting as her concentration in UTC's College of Business. It was a decision that lead to a 35-plus year career in the banking industry, initially at SunTrust Bank in Chattanooga, and now at Northwest Georgia Bank in Ringgold, Ga., where she serves as vice president of loan review.
Quietly working behind the scenes, Nancy's seeds of loyalty to her alma mater have been sown through her service as UTC alumni council president and the UT National Alumni Association vice president. She's been a member of the UT women's council, board of governors, University of Chattanooga Foundation, Chancellor's Roundtable, and the UTC athletics board. She has served on the advisory board for accounting and finance at UTC and as the finance advisor for Alpha Delta Pi, which resulted in the well-deserved recognition of Outstanding Greek Alum in 1992.
Her dedicated service continues to rub off on the rest of the Chattanooga community at the Walter E. Boehm Birth Defects Center and the United Way of Greater Chattanooga, where she received a Community Investment Service Award in 2002. In 2008, she was humbled by being named a Woman of Distinction by the Chattanooga chapter of the American Lung Association.
"The hook was set the moment I arrived on campus," she says. "After graduating in 1978, I was slowly reeled in to become a fisherwoman of others. I'm still swimming and doing all I can to give back in reverence of what was first given to me."
If you want to leave a lasting legacy of generosity to benefit future UT students, please contact the Office of Planned Giving at (865) 974-4826 or email@example.com.
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 The University Of Tennessee 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 The University Of Tennessee [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 UT 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 UT 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 UT 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 UT where you agree to make a gift to UT 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.