There are gift options that allow you to make an outright gift to the UAB School of Nursing that can immediately be applied to our Building Fund and provide technology and facility enhancements. These include:
WRITE A CHECK
The Donor receives an income tax deduction for the amount of the check. This deduction can be used to offset up to 50% of adjusted gross income in the year in which the gift is made. Any unused deduction can be rolled into subsequent years but must be used in the year of the gift and up to five years thereafter. Checks should be made payable to the UAB School of Nursing (with Building Fund indicated in the memo section) and mailed to:
UAB School of Nursing
Office of Development & Alumni Relations
1720 2nd Avenue South
Birmingham, Alabama 35294-1210
GIVE MARKETABLE SECURITIES
The Donor receives an income tax deduction for the average between the high and low of the stock/bond on the day the securities are received by UAB. This deduction can be used to offset up to 30% of adjusted gross income in the year in which the gift is made. Any unused deduction can be rolled into subsequent tax years but must be used in the year of the gift and up to five years thereafter. Neither the Donor nor UAB will incur capital gain tax. Your broker can deliver securities to our broker. Please contact the School's Office of Development and Alumni Relations for instructions.
MAKE A CHARITABLE IRA ROLLOVER
Under the extended charitable IRA legislation, donors age 70 ½ or older, at the time of the gift, may make charitable gifts up to $100,000 from their IRAs. Gifts must be made by December 31, 2013. The transfer may count against your unsatisfied required minimum distribution. The transfer generates neither taxable income nor a tax deduction so you will receive the benefit even if you do not itemize your tax deductions. Your IRA administrator can transact the gift. Please contact the School's Office of Development and Alumni Relations for instructions.
CREATE A CHARITABLE LEAD TRUST
The School will receive a current stream of income for the term of the Trust. The term of the Trust can be the life of donor or a set number of years. The remaining assets, including any appreciation not already expended, are distributed to your heirs as you designate in the Trust Agreement without incurring any additional taxes. The assets are also removed from your estate and will not be subject to inheritance tax. The Trust can be funded with cash and/or securities.
THERE MAY BE OTHER GIVING OPTIONS AVAILABLE including those that do not provide immediate funds for the School but will ultimately benefit nursing. We would be happy to discuss these opportunities in greater detail. Please contact the School's Office of Development and Alumni Relations for more information.
Please consult your tax and/or estate planning professional to determine which gift methods are best for you. UAB is a non-profit organization under IRS tax code 501(c)(3).