Foundation Funds

All Gifts to Fairhaven and Fairhaven Foundation are tax deductible to the full extent provided by law 
and may be given to any of the funds below as a gift, honorarium or memorial.

Please let us know if you would like to make a gift to meet a special need or project.

Fund Purpose

UNRESTRICTED (GENERAL) FUND/ANNUAL FUND is for non-specified gifts. It is a Board directed fund that is also used for expenses of the fund and to support the work of the Foundation.

LIBRARY FUND (non-endowed) this fund is to be used for the Library and/or information technology for the benefit of the residents.

LIFE ENHANCEMENT FUND (non-endowed) Started in 2000 this fund provides equipment and other resources that supplement our caring for residents.

FUNDS FOR THE PERFORMING ARTS (endowment) was established in 2003 to honor the life and interests of one of our residents who was a musician and soloist. Interest from this fund supplements arts programs at Fairhaven.

EDUCATION ADVANCEMENT AND SCHOLARSHIP ENDOWMENT FUND was begun in 1999. It is a scholarship fund to be used by employees to improve their skills though additional education. We believe that employees are an important part of the quality of care at Fairhaven and we are committed to help them improve their skills. The principal of this fund is in perpetuity with scholarships receiving 5% of principal each year if awarded.

BENEVOLENT CARE ENDOWMENT FUND is dedicated to provide help to residents who run out of resources because of longevity or illness. This endowment uses only a specific percentage of the principal of this fund and thus is aimed toward funding in perpetuity.

  • ROBERT THIES LESLIE ENDOWMENT FUND – began with a gift in 2005.The income from the fund may be used at the direction of the Board.

Benevolent Care Endowment Fund interest from the fund would annually be placed into the Annual Fund for use and if not used placed back into the Benevolent Care Endowment Fund.
Annual Fund would be used to raise funds for all areas and the money from interest from the Endowment would be placed here annually for use or reinvestment in the Endowment at Board’s approval.

ANNUAL FUNDS AND MEMORIALS represent contributions given for general or specific purposes.

MEMORIALS are received in memory of persons who died and the donors have an interest in the work of Fairhaven and wish to see the ministry continue.

OTHER DESIGNATED MEMORIALS AND NON-ENDOWED GIFTS are used for special projects at Fairhaven.

ENDOWMENTS – endowments are funds from which the interest is used to support specific projects. Fairhaven has a variety of endowed funds.

GIFT ANNUITIES – Fairhaven provides an opportunity, through its Donor Annuity Program, to receive gifts from individuals and at the same time provide a lifetime income to donors. This approach also provides significant tax advantages to the donor.

(updated 2011)