Benevolent Fund Financials FAQs
It is the intent of the Benevolent Fund Council to keep administrative costs at an absolute minimum. Council members are not paid. Their work is strictly voluntary. There are some costs associated with the campaign each year. The normal activities of the council incur nominal costs. The staff is small and includes the administration of the Employee Emergency Assistance Program. Historically these costs have been 6-7% of contributions.
Undesignated gifts are first used to fund the Employee Emergency Assistance Program. After all EEAP awards are made, the Independent Agency Grants are funded and administrative costs are paid. Remaining dollars are then divided between all agencies eligible to receive designations.
The UAB Benevolent Fund 2017 annual report can be downloaded here.
Yes. In accordance with IRS regulations. In late January or early February you will receive a statement from UAB Gift Records thanking you for your contribution which will also serve as your tax receipt.