Charitable Gift Annuities
Charitable gift annuities to benefit UAB may be established only through The UAB Educational Foundation. Upon acceptance by the Foundation and in exchange for a transfer of cash or marketable securities, The UAB Educational Foundation will contractually agree to pay a guaranteed annuity to the donor and/or another beneficiary. The annuity rate depends solely on the age of the beneficiary (ies).
Donors may designate the specific program at UAB that their gift annuity proceeds shall benefit. After the death of the annuitant(s), the remainder proceeds will be transferred to the designated UAB program. Charitable gift annuities are available to residents of Alabama and certain other states. The minimum contribution required to establish a charitable gift annuity is $10,000. Please contact Peggy D. Striplin (205-934-9838) for more information on rates or to obtain a copy of the charitable gift annuity agreement.
Charitable Remainder Trusts
UAB will accept designation as a remainder beneficiary of a charitable remainder trust. The Board of Trustees of The University of Alabama may serve as trustee of a charitable remainder trust where UAB School of Optometry is the sole, irrevocable beneficiary of the trust and where the trust is to be funded with a minimum of $100,000 in cash or marketable securities. When the Board of Trustees is named as trustee of a charitable remainder trust, the minimum age for life income beneficiaries is 60 years of age, and no more than two life income beneficiaries are allowed.
To name the Board as trustee of a charitable remainder trust, please designate "The Board of Trustees of The University of Alabama for The University of Alabama at Birmingham." When the Board of Trustees is named a trustee of a charitable remainder trust, the trust agreement will be forwarded by the UAB President to the Chancellor of The University of Alabama System for approval by the Board.
Please contact Peggy D. Striplin (205-934-9838) when naming UAB School of Optometry as the beneficiary of a charitable remainder trust or to receive additional information regarding naming the Board of Trustees as trustee of a charitable remainder trust.
Charitable Lead Trusts
UAB will not serve as trustee of a charitable lead trust, but, of course, can be named as a beneficiary of such a gift. Please notify Peggy D. Striplin (205-934-9838), who will work with the Director of Planned Giving, when naming the University as a beneficiary of a charitable lead trust distribution in order to establish proper receipt and use of the funds.
The UAB Torchlighters Society (Wills, trusts, annuities, deferred gift arrangements)
The University offers membership in the UAB Torchlighters Society as a way of recognizing the generosity of individuals and couples who make a substantial long-range financial commitment to provide for UAB's future. All forms of deferred commitments will qualify.
To become eligible, individuals should simply inform The UAB School of Optometry Development Office in writing of their specific estate plans. The University prefers legal documentation of the gift such as a copy of the pertinent provision of the Will, trust, gift annuity or other deferred gift arrangement. However, completion of the "Statement of Bequest Provision" form specifying the estate plan is an acceptable alternative. All information provided is kept confidential.