ALUMNI & DONORS Alumni & Donors
Alumni & Donors
Alumni & Donors
Alfred and Sarah Rosenbloom Center on Vision and Aging
Written by Administrator|
Filling a Need |
The Illinois College of Optometry is proud to announce the founding of the Alfred and Sarah Rosenbloom Center on Vision and Aging, a unique new resource devoted to the vision care needs of the aging population.
The Center within the Illinois Eye Institute honors an ICO icon, Dr. Alfred Rosenbloom, and his wife, Sarah. Dr. Rosenbloom, a 1948 graduate, served as dean of ICO from 1955 to 1972, president from 1972 to 1982, and remains a distinguished professor emeritus. He was inducted into the National Optometry Hall of Fame in 2010, and continues to be a leader in the optometric profession. In addition to his leadership roles at the College, Dr. Rosenbloom has been a pioneer in low-vision rehabilitation. In 1957, he was one of the founders of the first low-vision service at the Chicago Lighthouse. This organization has become one of the most comprehensive social service agencies in the United States. Dr. Rosenbloom was recently honored by being appointed to the prestigious Donald Krumrey Chair in Low Vision at the Chicago Lighthouse.
“The over-8o population is growing four times faster than any other segment of the population,” Dr. Rosenbloom says. “ICO’s reputation in terms of current and future education offers the opportunity to elevate standards and raise awareness for providing professional vision care to this age group. This may lead in time to the development of a Geriatric Care Patient Service Model, including care for many underserved individuals in assisted living facilities and in nursing homes.”
The Rosenbloom Center was announced during the ICO and Illinois Optometric Association Open House on June 29. The phased implementation begins immediately and will ultimately have four essential functions:
• Promote increased knowledge and understanding of the inter-relatedness of aging and vision care for optometry students and practitioners
• Develop programs that reach out to underserved and minority communities, and older adults in and around Chicago, by providing vision care, counseling and support services
• Develop ongoing relationships with selected geriatric care facilities (assisted living and nursing home facilities) in the Chicago area for education and patient care services
• Sponsor vision-related geriatric research
“ICO is unique in having the faculty and the resources to establish what I would consider a model Center on vision and aging,” Dr. Rosenbloom says. “As far as I know, there is no other vision care agency or facility that can establish a Center like this with experienced faculty to administer the important goals of the Center.”
The Center’s reach will stretch far beyond the Chicago area, he says. ICO students will have the opportunity to work with aging patients through the Center, and then take that unique knowledge wherever they establish a practice after graduation.
ICO President Arol Augsburger, OD, says the Center is an exciting addition to ICO.
“To have a prominent ICO alumnus and his wife – and a former president of ICO – make such a significant leadership gift to ICO is transforming for the institution,” he says. “ICO will soon be the only optometric institution with a Center on Vision and Aging. This will emphasize and highlight our leadership position in optometry.”
Read more about the Rosenbloom Center's new service chief, Eric Bass OD, FAAO, by clicking here.
Congratulations, ICO Class of 2012!
We hope you enjoyed your special day. Besides the video highlights, you can also reminisce by viewing the hundreds of graduation day photos available on ICO’s Flickr photostream.
In addition to becoming a doctor of optometry, you are now an alumnus of the Illinois College of Optometry. Be sure to keep in touch with ICO by following us on Facebook and letting us know where you build your career by submitting a change of address form. You now have access to exclusive alumni services and resources, including ICO’s alumni directory, the library and career center to help you connect with ICO and succeed as a new optometrist.
The college welcomes gifts of common stock or other publicly traded securities. Substantial tax benefits are realized by transferring appreciated securities held long-term (owned by the donor for more than one year prior to the gift) to the Illinois College of Optometry. By making such a gift, the donor is entitled to a federal income tax deduction for the full fair market value of the security, subject to applicable limitations. By contributing the security instead of selling it outright and contributing the proceeds of the sale, the donor avoids capital gains tax liability. This means you receive a double tax benefit.
It’s easy to make a gift of securities. There are three methods to transfer the stock:
- If the certificates are held in a brokerage account, simply ask your broker to contact our office for instructions on making the transfer.
- If you have the stock certificates in your possession, send the unendorsed stock certificates by registered mail to our office. Enclose a cover letter outlining the purpose of your gift, along with a description of the issues and the number of shares and certificates. In a separate mailing, send signed “stock power” forms for each certificate with the name of the issue filled in and the signature guaranteed by a broker or officer of a national bank. We can sell the stock more readily if you sign a blank stock power without filling in our name.
- Lastly, you can hand-deliver securities to the Illinois College of Optometry’s Office of Institutional Advancement.
Increase the value of your annual gift through your employer’s matching gift program. Check with your human resources or employee benefits office to find out if your company will match your gift. You may also qualify under the matching gift program of a company from which you retired, at which your spouse works or from which he/she has retired, or on whose board you serve. There are also some foundations and associations that provide matching funds.
If you discover that you can garner these additional funds for ICO, please complete the appropriate forms obtained from your employer and send them along with your gift.Honorary gifts recognize special individuals, anniversaries or events. Memorial gifts recognize lifetime accomplishments of individuals who have passed away. Honorary or memorial gifts can be unrestricted or designated for use in the College or the Illinois Eye Institute. Gifts are recognized with a card sent to the honoree or family of the memorialized individual.
A gift of tangible personal property is commonly thought of as an asset that can be touched and moved. Examples of tangible personal property include artwork, jewelry, collections, automobiles, furniture, rare coins and antiques etc and such a gift can generate a charitable tax deduction.
However, a gift of tangible personal property is subject to certain Internal Revenue Service rules regarding the charitable deduction. Specifically, the IRS has ruled that donated tangible personal property must be put to a use "related" to the purpose or mission of the organization. A related purpose, or use, of a personal property gift must exist in order that the full fair market value of the asset is a charitable deduction. Otherwise, the charitable deduction is limited to the cost basis of the asset.
Some examples of tangible personal property that could have a related use to ICO, if given as a gift, are:
1. Computers; software
2. Books related to course work at the College
3. Optometric equipment
4. Eyewear
5. Patents and copyrights
Delivery
The delivery date, or date of the gift, is the date the tangible personal property is received by the College.
Valuation for Charitable Deduction
If a donor claims a charitable deduction of more than $500 for the contribution of tangible personal property, then Part I of IRS Form 8283 must be completed.
If a donor claims a charitable deduction of more than $5,000 for the contribution of tangible personal property, then the donor is required to have a qualified appraisal dated within 60 days of the donation and reported in Part B of the IRS Form 8283. The donor, according to IRS guidelines, must pay the appraisal fee.
A properly timed charitable real estate gift will allow a donor to enjoy added benefits created by incentives in the tax system.
Gifts of real estate which are held long term (i.e., longer than one year) are generally tax deductible at full fair market value, with no tax on the appreciation above original cost.
Gifts of appreciated real estate such as undeveloped land, farms, or personal residences may be transferred by deed to the Illinois College of Optometry with no liability for income or estate taxes on the appreciation. For this reason, it may make sense to make contributions of real estate where the current market value of the gift may be significantly greater than its original cost. It is a wonderful way to make a significant impact on the College’s outstanding students and academic programs.
If the market value of the contributed real estate exceeds $5,000, an income tax charitable deduction will not be allowed unless the donor complies with IRS "qualified appraisal" requirements.
A qualified appraisal can be done any time from 60 days before the donation, up until the due date (including extensions) for the return, on which the donor reports or claims the gift. The appraisal fee will be the obligation of the donor, who can deduct the cost of the appraisal as an IRS, Sec. 212(3) deduction, not as a charitable deduction under the IRS, Sec. 170.
A gift of life insurance can be an ideal and cost-effective way for you to do something today that can have a tremendous impact tomorrow. Many alumni and friends of the Illinois College of Optometry have made significant financial commitments to the institution by using life insurance as a sensible and affordable way of giving.
A gift of life insurance can be an ideal and cost-effective way for you to do something today that can have a tremendous impact tomorrow. Many alumni and friends of the Illinois College of Optometry have made significant financial commitments to the institution by using life insurance as a sensible and affordable way of giving.
