The Living Well Foundation (Foundation) was established to provide a vehicle for assisting residents with unplanned financial burdens. Financial assistance will be for housing and/or healthcare expenses of residents within any of the Senior Living Communities (Community) and paid directly to the applicants Community.
Contributions may be made by residents, family members, friends, corporations, or other foundations and may be designated for the residents within a specific Community. As a 501(c)(3) public charity, each contribution is 100% tax-deductible from federal income taxes, as well as most state income taxes (seek tax advice from your preferred advisor to determine whether contributions may also be deducted for state income taxes that apply to you).
The Foundation is governed by a Board (Foundation Board) consisting of five to seven independent members.
As a liaison between the Community and the Foundation Board, each Community may appoint a Living Well Foundation Advisory Committee, comprised of residents in good standing.
Contribution account balances will be maintained by Community as well as for unrestricted funds. No contribution is too small.
Contributions may be in the form of:
- cash
- securities (stocks, bonds, etc.)
- bequests / wills
- gift annuities
- charitable remainder Trusts
- life insurance policies
- planned giving options
- a conntribution from an IRA
- assets efficiently and economically converted to cash