Funds Impacted by Gifts
- Permanent Endowment Fund
The Permanent Endowment Fund has been set aside by the Board of Directors to provide long-term financial stability to the programs and property of Northcrest. The fund is invested conservatively to assure its viability and that Northcrest can fulfill its commitments to its residents. Currently 5% of its year-end balance is transferred to Northcrest, Inc. for its operating budget and to financial assistance within the Northcrest Community.
- Heartwood House Endowment
The Heartwood House Endowment was developed to provide financial assistance to residents of this specialized health care unit. Circumstances may create a financial situation that may limit a resident's ability to remain in the Heartwood House. The Foundation sets aside 5% of its year-end balance annually to be used for this assistance.
- Fund for the Future
The monies in this fund are unrestricted and are used by the Board for the betterment of Northcrest Community and its residents. The uses of the funds are determined by the Board of Directors to provide for important needs of the Northcrest Community.
- Special Projects Fund
This is a donor-restricted fund designated for future expansion opportunities to benefit Northcrest, Inc.
- Fox Family Professional Development Scholarship Fund
This fund was started by a gift from the Karl Fox Family in recognition of the outstanding care provided to Karl and Sylvia in the Health Care Center.
- Ye Hung Gee Memorial Fund
This fund was established to provide funds for staff continuing education across all departments. This is staff education above and beyond the ongoing education provided to staff on a regular basis by Northcrest.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.