✨ Fundraising

I am wondering which communities have a benevolent fund, namely a fund that assists a resident in need. The most common need might be someone who needs to go to a higher level of care and cannot afford it. If you have such a fund, is there a written policy for administration of the fund? If so I'd be interested in seeing an example. Is such a policy approved by the governing board? What is the size of the fund? Do residents generally make contributions to it?

Good evening Victor,

Very many CCRCs have such a fund and typically the residents contribute to it. Sometimes these funds are called Foundations. I'm sure you have asked your facility and checked out your contract. Since the residents of CCRCs are living much longer, this happens. Let's see what information comes in from residents around the country. Let us know the state in which you live.

Maura

Board Member

Pennswood Village has a benevolent fund as well as funds to acknowledge and thank employees, and to proved employee scholarships. The board is composed of residents and employees. To learn more about how it was created and is administered, you might contact Sally Marrington at Pennswood.

Richmond Shreve

NaCCRA Board Member

Forum Moderator

I believe all of the 18 Erickson communities have a Resident (or Benevolent) Care Fund (RCF), which assists residents who have exhausted their financial resources due to no fault of their own, usually because of unexpected very high health care expenses. Because our communities are not-for-profit, donations to the RCF are tax deductible. We have a fund drive annually to raise monies for the RCF. Residents, families, vendors, even staff donate to it. It enables residents to remain in their communities when they would otherwise not have been able to afford to. I have co-chaired the RCF annual campaign for the last 2 years. If you want more info, feel free to contact me - my info is in the directory.

Channie Peters

Wind Crest (Erickson community in Denver)

Springpoint in NJ has the Springpoint Foundation which does the same and more.

Victor, I did a google search that indicates that not all CCRCs have benevolent funds, but many do including for-profit and not-for profit. They may be called benevolence funds, charitable funds, or foundations. Many CCRCs offer refundable entry fees for that purpose, and others help residents apply for government assistance. Some may ask the resident to downsize to a smaller unit. The specifics should be in the contract. Another place to look might be in the facilities annual reports.

This is a general overview as CCRCs are so different and have different services and contracts.

Maura Conry

Board Member

Forum Moderator

I am interested in knowing of any CCRCs "out there" that have a Resident Assistance Fund (to help those outliving their money, whether in independent living or health care) that is not only "fed" by resident donations via special fund drives, resident estates, etc., but that ALSO have a certain percentage of the entrance fee someone pays to move in being designated to the Resident Assistance Fund.

If your community does this practice of feeding the fund via a percentage coming from future residents' entrance fees, could you provide the name and location of your community. Thanks very much.

Jennifer Young

The Village at Brookwood, Burlington NC