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Supporting the Future

Alfred A. Windesheim, CPA

Alfred A. Windesheim

Al Windesheim with UB President Emeritus H. Mebane "Meb" Turner, right, one of his inspirations to give back to UB.

In 1959 Alfred A. Windesheim, CPA, was the first person in his family to graduate from college. He matriculated to the University of Baltimore in the fall of 1955 and credits the work-study program at UB with his foundation and successful career. He also credits his adjunct professors who worked in public accounting. They gave him invaluable insight into the profession.

Windesheim has always been a hard worker with a strong work ethic. As a student at UB, he attended classes during the day, as well as at night. He did this while working part time as a controller trainee, 22 hours a week, at Sears, Roebuck & Company.

"I was able to put to work what I learned at UB," says Windesheim. After graduating from UB in 1959 with a BS in accounting and a wife, he began his career with the national accounting firm of Ernst & Ernst. In 197 3, Windesheim joined the accounting firm KatzAbosch, founded by Alvin Katz and John Abosch, to lead the tax department until his retirement in 2008.

Windesheim believes in "making things better," so he gives back to the UB community to make an impact both in the city of Baltimore and in the lives of our students.

If you would like to join Alfred Windesheim in the Turner Society, which honors donors committed to supporting the future of UB and its students, please contact Francena Phillips Jackson, M.A. ’94 at 410.837.4385 or

Last Published 7/09/15

A charitable bequest is one or two sentences in your will or living trust that leave to the University of Baltimore 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 Baltimore, a nonprofit corporation currently located at 1130 N. Charles St., Baltimore, MD 21201, 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 UB 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 UB 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 UB 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 UB where you agree to make a gift to UB 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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