KINGSWOOD FOUNDATION

Purpose

The Kingswood Foundation was established in 2004 so that residents and friends of Kingswood Senior Living Community could assist in funding facilities and programs that would not be possible utilizing existing funding resources.

Mission

To promote, provide and contribute to the physical, spiritual and mental health of the residents of Kingswood Senior Living Community and the elderly of society as a whole.

To make gifts for facilities operated by Kingswood Senior Living Community and grants for programs run by or managed by Kingswood staff members or volunteers.

To assist with the implementation of the strategic and long-range plans of Kingswood Senior Living Community.

Governance

The Kingswood Foundation is governed by a nine-member Board of Trustees. Three of the Trustees are residents of Kingswood; three are members of the Board of Directors of Kingswood; and three are members at large from the business community.

The Kingswood Foundation has been approved by the Internal Revenue Service as a 501c(3) organization. All gifts to the Foundation are tax deductible to the fullest extent of the law.

There are two types of gifts donors can make.

Designated Gifts

These may be gifts to an established activity fund such as the Wesley Assistance Fund, the Pastoral Care Fund, or the Health Center Equipment Fund. Donors may also set up a new fund that has a special interest to them.

Donors may also choose to donate to the Wesley Endowment Fund where the principal is placed in a financial institution and only the interest income is used each year to provide financial assistance for residents at Kingswood.

Undesignated Gifts

Each year, the staff presents those projects and programs which need funding but for which there are no other sources currently available. The Trustees then decide which projects the Foundation should undertake and they utilize undesignated gifts to fund those projects.

Four ways you can provide financial support for the projects of the Kingswood Foundation

1. Gifts of Cash, Bonds or Mutual Funds
   Cash gifts can be deducted up to 50% of your adjusted gross income. Bonds and mutual funds are similar to cash in their tax treatment.
   
2. Gifts of Appreciated Stock
   Appreciated stock (held more than one year) makes an excellent gift because you avoid all capital gains taxes, and you receive a tax deduction of up to 30% of your adjusted gross income on the full value of the gift.
   
3. Gifts of Life Insurance
   A unique way to make a significant future gift is to name the Kingswood Foundation beneficiary to receive all, or a portion of, the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value of the policy which reduces your tax liability in the year of the gift.
   
4. Bequest Through a Will
   One of the simplest ways to give part of your estate is through a will. You can make the gift of a specific dollar amount, a percent of your estate, or what is left (remainder) after your heirs have received their portions.
   

Kingswood Foundation Estate Society

Kingswood Foundation Estate Society was established in order to appropriately honor those individuals who have included Kingswood or the Kingswood Foundation in their estates.

Donors may choose to give either a percentage of their estate or a set dollar amount.

Donations may be either a small amount of the estate, or the entire estate, should the donor not have heirs or someone to whom to leave their estate.

Donors may make their estate gifts either designated or undesignated.

You can learn more about the Kingswood Foundation Estate Society by calling the Foundation office at (816) 442-3284.