Bloomberg, who graduated in 1974 with a bachelor's degree in history, took her advice. After earning his law degree at the University of Maryland, he is now a practicing attorney and CPA in Columbia, Maryland. Rackoff graduated in 1975 with a degree in early childhood education. She earned a master's degree in New York and taught there for several years.

"Although we went our separate ways after college, we always kept in touch," says Bloomberg. "We used to exchange cards and keep up to date on each other's families."

Recently, Bloomberg learned that Rackoff had passed away from cancer at the age of 41. After calling the Office of Alumni Relations at the University, he decided to establish an endowed scholarship in the School of Education in her honor.

"She never told me she was even sick," says Bloomberg. "My wife and I wanted to do something for her, and we felt this was a fitting tribute to her memory."

His gift of stock created the Shelley Lyn Pine Rackoff Endowed Scholarship Fund, which will benefit deserving and talented undergraduate and graduate students studying early childhood education at the University of Miami. The first scholarship will be awarded this fall.

Attending a private institution such as the University of Miami creates a financial strain for many students that cannot be alleviated through the currently available combinations of public and private aid. Scholarships such as this one allow the School of Education to level the playing field with state schools that compete for students going into service professions like teachers and counselors.

In addition, gifts of appreciated securities, stocks and bonds can provide considerable tax advantages to the donor. To inquire about the benefits of making a gift of appreciated securities, stocks or bonds, the University recommends that donors consult with a professional financial adviser and the University of Miami Office of Planned Giving at (800) 529-6935.

The most important benefit of an endowed fund like the one established by Bloomberg is that it lasts in perpetuity. The Shelley Lyn Pine Rackoff Endowed Scholarship will forever recognize her caring spirit and her commitment to teaching while providing those following in her footsteps with a first-class, private education.

"Shelley was such an inspiration to me, I felt that it was important to do something to keep her name alive," Bloomberg stated.

For more information on creating an endowed scholarship, please contact the University of Miami Office of Development at (305) 284-5413.

- D'Ann Tollett