IRA Estate Gift Ensures Future Support for UA Students

Edward J. Brooks III, ’74 B.A.

Edward J. Brooks III, ’74 B.A., grew up within walking distance of UAlbany and has fond childhood memories of watching the construction of the campus in the mid-1960s. “It always made me feel like UA was where I was meant to attend,” he says.

After many years of loyal annual contributions to the Foundation, Ed decided to ensure his future support with an estate-plan gift.

In gratitude for the UAlbany education that was the foundation of his 44-year career in investment portfolio management, Ed has made a legacy gift by naming the Foundation as beneficiary of his IRA—which allows the full value of those assets to be used for his intended charitable purposes rather than being subject to potential estate and income taxes if left to noncharitable beneficiaries.

Albany County Country Club clubhouse, prior to the construction of the Uptown Campus. 1950

“My education, both undergrad as well as graduate courses, prepared me for a challenging career in managing investment portfolios in private banking for individuals, endowments, trusts, charitable foundations, and retirement portfolios,” Ed says. “At one point, I was managing more than $400 million.”

Now retired, Ed hopes his gift will be used to assist students and/or for the greatest needs of the University. He encourages others to reflect on how their education enriched their lives and to consider the legacies they could leave to support future Great Danes.

“During my career, I received many accolades and employee awards for outstanding stock portfolio performance returns,” Ed concludes. “Without the education I received at UAlbany, I would never have had a long and successful career in the financial world.”

Model of the State University of New York at Albany Uptown Campus. The focal point is the tree-lined main entrance to the Academic Podium. Residential towers and the Carillon Water Tower can be seen. 1960