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Alumna Sets Example With Gift

Scholarship Helps Students Find Success

Carol Glass with her husband and scholarship recipient

Scholarship recipient Ryan Black, Carol Glass and her husband, Jerry Rewerts.

A kindergarten teacher for 30 years, Carol Glass, credits the many role models she had as a student teacher at the Lab School, along with her training at Iowa State Teachers College (UNI), for her successful teaching career.

Carol, '62, knows the value of both male and female role models for children. She saw the lack of male role models in the lives of many of her students and vowed to change that.

"I don't have any grandchildren to help with college expenses, so I decided to share with students who need help. I especially wanted to help young men since I have two sons and want young children to have good experiences with males," Carol says.

An annual scholarship ensures that wish comes true. "I am well aware the cost of education has risen astronomically since I was in school," says Carol, "and that many students graduate with a great deal of debt. I wanted to help students avoid that."

Carol's hope for Glass Scholars is that they choose an occupation where they find happiness each day they go to work.

"Ideally, they will find success in their chosen fields and will find many opportunities to help others both at work and play," she says.

In addition to her annual scholarship, Carol designated UNI as the beneficiary of her retirement account. That, along with her Hummel figurine collection, will fund the Carol Glass Elementary Education Scholarship Endowment.

Since retiring, Carol has volunteered in schools, cooked in a soup kitchen and traveled with her husband, Jerry Rewerts, abroad and within the United States.

Support the Teachers of Tomorrow

Like Carol, you can establish a scholarship to support the next generation of educators. Contact Jane Halverson at (319) 273-4665 or 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 Northern Iowa Foundation 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

Bequest Language

"I, [name], of [city, state, ZIP],
give, devise and bequeath to the University of Northern Iowa Foundation, an
Iowa nonprofit corporation of Cedar Falls, Iowa, [written amount or percentage
of the estate or description of property] to be used for such purposes as the
Board of Trustees may determine."

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

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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 the UNI Foundation 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 the UNI Foundation 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 the UNI Foundation where you agree to make a gift to the UNI Foundation 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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