When a Home Becomes a Legacy
How the late Erika Davis planned wisely and gave generously
The story of the Richard and Erika Davis Scholarship began in 2011, when Erika found herself at a crossroads. Her Santa Barbara home represented years of memories and the majority of her estate. Downsizing into a retirement home meant selling, but the housing market was slow, and she worried about how to secure her financial future.
A conversation with a fellow UC Santa Barbara supporter sparked a new idea. What if her home could not only provide for her retirement but also create a legacy for students?
Within just a few weeks, after discussions with UC Santa Barbara’s Office of Development, Erika chose to deed her house to UC Santa Barbara in exchange for a Charitable Gift Annuity. The gift annuity guaranteed Erika an annual income for the rest of her life, regardless of market conditions or interest rate changes. Additional benefits provided by the creation of this gift annuity included a significant charitable income tax deduction and the avoidance of capital gains taxes.
The sale price of her house exceeded expectations. Erika was able to establish the gift annuity and immediately contribute to create a scholarship endowment. She took great joy in the experience as students received the Richard and Erika Davis Scholarship. The award honors her late husband’s lifelong dedication to education.
“We believe deeply in the value of higher education,” Erika shared in 2012. “Creating a scholarship in Richard’s memory makes a lasting difference for students.”
Upon Erika’s passing this year, the remainder of the charitable gift annuity was added to the existing endowment, significantly increasing the annual payout and ensuring a long-lasting, meaningful impact for future generations of students.
Upon Erika’s passing this year, the remainder of the charitable gift annuity was added to the existing endowment, significantly increasing the annual payout and ensuring a long-lasting, meaningful impact for future generations of students.
Words of gratitude from Richard and Erika Davis Scholarship recipients
“As a scholarship recipient, I have had time to complete my major in statistics and data science, pursue an English minor, and earn an emergency medical technician certification. I look forward to working as an emergency medical technician and serving the Santa Barbara community because administering emergency medicine brings me fulfillment and joy. It means that I have been able to create a meaningful college experience for myself without huge financial stress. Thank you for helping me make my academic and personal dreams happen.”
Anya Macomber ’23 Statistics and Data Science
“When I received the notification that the Richard and Erika Davis Scholarship had been added to my award letter, I remember feeling relief; I knew that the scholarship would help me make the best out of my final year at UC Santa Barbara. I am greatly appreciative of this scholarship. Figuring out how to balance school, work, and familial obligations can be challenging, but receiving this scholarship has made doing so easier during what has been a very busy and momentous academic year. Thank you for creating this scholarship; not only has it helped me, but I know it will continue to help other students after I graduate.”
Ashley Alvarado ’23 Communication & Philosophy
Published November 2025
We believe deeply in the value of higher education. Creating a scholarship in Richard’s memory makes a lasting difference for students.
Erika Davis