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'One Day' Is Now: Donor Funds Scholarship Now, With Planned Gift Still to Come

Carol Medders

Carol Medders

In 2000, Carol Medders made a gift through her estate plan so that students from the UAB School of Health Professions would benefit one day.

This year, Carol, who retired from UAB in 1998, decided "one day" was now.

"When you get to a certain age, you've got all this money in different investment accounts," she says. "And you can't take it with you. I decided I wanted to go ahead and endow the scholarship now, and then add to it through my estate plan. I hope that this scholarship can meet the needs of many current students in the school. Plus, I will have the personal benefit of being able to meet the recipients while I'm still around."

The Carol E. Medders Endowed Scholarship in Health Professions is a testament to Carol's long history of helping students navigate the challenging road to graduation. During most of her 30 years in higher education, including more than 27 years at UAB, she worked in admissions and enrollment at the School of Health Professions. She received the Distinguished Service Award from the Southern Association of Collegiate Registrars and Admissions Officers, of which she was president for the 1991-1992 term and served on the executive committee for 10 years. She also served as president of the Alabama Association of Collegiate Registrars and Admissions Officers and as vice president of the American Association of Collegiate Registrars and Admissions Officers.

The UAB School of Health Professions is one of the largest health professions schools in the nation with more than 20 innovative programs at the baccalaureate, masters and doctoral degree levels within five departments. U.S. News & World Report ranks several SHP programs in the nation's top 25.

The scholarship will provide assistance to deserving students so they can set aside financial concerns to concentrate fully on academic pursuits.

"So many students in the school are enrolled in coursework for 30 to 40 hours a week and have limited opportunity for employment while in school," Carol says. "Scholarships make it so their loan debts are not as significant."

She looks forward to the day she can meet the first student to receive the scholarship.

"I've always had a heart for helping people that are in need, and some of that grew out of working with the students," she says. "It was an honor for me to work with so many outstanding students while at UAB. I have been inspired to do this, and I hope that my gift will inspire others to consider doing the same."

Be an Inspiration
Like Carol Medders, a future gift to UAB can serve as an inspiration for others to provide meaningful support. Contact the Office of Planned Giving at and(205) 996-7533 to learn more.

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A charitable bequest is one or two sentences in your will or living trust that leave to the University of Alabama at Birmingham a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the University of Alabama at Birmingham, a nonprofit corporation currently located at
1720 2nd Avenue South
AB 1270
Birmingham, AL 35294-0112, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to UAB or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to UAB as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to UAB as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and UAB where you agree to make a gift to UAB and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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