Carol Schulke's career path led her to public and private universities as a dedicated educator in the field of social work. Following her retirement as department chairperson and associate professor of social work from the University of Wisconsin Oshkosh (UWO) in 2003, she established a revocable charitable trust to create a living legacy to carry on her life's work through the Carol L. Schulke MSW Collaboration Scholarship at the University of Wisconsin Oshkosh Foundation.
In addition to providing financial assistance to students through her scholarship, Schulke challenges the perception that public universities have excess resources and do not need charitable financial support. She knows full well the growing need for support in the midst of dwindling state allocations. Leading by example, the message Schulke wants to convey is clear: support students at state schools.
Schulke completed all credits toward a doctorate degree and earned a MSW from the University of Wisconsin-Madison and a BA from Miami University. She devoted her career to the development and promotion of educational programs that emphasize high-quality services strengthened by collaborative efforts.
During her tenure at UW Oshkosh, she was instrumental in creating the Collaborative MSW Program with the University of Wisconsin Green Bay, gaining approval for the venture from colleagues, institutional leaders and system administrators. Having previously worked and built relationships at UWGB, she saw compatibility between programs, principles and personnel well suited to create the partnership.
The program was launched in the fall of 2003 and became fully accredited by the Council on Social Work Education in July 2006. The MSW curriculum strives to meet the social service needs of the northeastern Wisconsin region and relies on the input and feedback from its many constituencies to develop a program that prepares social work leaders to meet the social service needs in regional communities. Leadership of the program alternates between UWO and UWGB and representatives of both institutions serve on the selection committee. Classes are held in the Appleton area on evenings and Saturdays to best serve the needs of its geographically dispersed enrollment.
Schulke's mission is to protect the purpose for which the program was created, preserve the culture of collaboration and ensure its structural integrity. She is passionate that the program endures in the collaborative spirit in which it was created. She believes it can serve as a model for other MSW programs so they, too, can enjoy the benefits of collaboration.
Students enrolled in the MSW program through UWO or UWGB are eligible to apply for the scholarship. Schulke had the foresight to anticipate the possibility of additional educational institutions joining the program in the future. Therefore, she included a provision that any student accepted and enrolled in the program be eligible to apply for this scholarship. The scholarship provides reimbursement of tuition and other essential educational expenses toward the pursuit of a MSW degree by aspiring social work professionals who intend to enhance their long-term career goal of serving children and families in the public sector.
Schulke has fond memories of the students she taught, many first-generation, and the sacrifices they made to pursue their education. She derives satisfaction from knowing that her gift will benefit not only future recipients of the award but the clients they will serve throughout their careers.
As a UWO faculty emeritus, Schulke's legacy will live on through the students she educated during her career as well as future recipients of the scholarship, which will be awarded in perpetuity through the endowed fund she has created.
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 UW Oshkosh Foundation a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate for its unrestricted use or purpose or designation of your choice.
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 University of Wisconsin Oshkosh Foundation [written amount or percentage of the estate or description of property] for its unrestricted use or purpose or designation of your choice."
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 UW Oshkosh 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 UW Oshkosh 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 UW Oshkosh 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 a third party where you agree to make a gift to UW Oshkosh Foundation and they, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.