Woodbrook Foundation Inc.
What is the Woodbrook Foundation?
The Woodbrook Foundation, Inc. (the Foundation) was established in May 2005 to provide individuals with a vehicle for supporting Woodbrook Assisted Living Residence, Inc. through tax-related charitable gifts or planned giving. The Board of Directors of the Foundation is comprised of five volunteer members. The charge to this Board is to determine and oversee the policies of the unrestricted and donor restricted investments in the Foundation. The Foundation is a New York registered charitable corporation with the ability to receive tax-deductible gifts from donors and also honor donor directed wishes.
The Foundation has no paid staff or expense for facilities which keeps the cost of operations at a minimum. Third party professionals are contracted and supervised by the Board to provide the specialties of legal services, insurance coverage, audit, tax and compliance services, and money management of the Foundation’s portfolio.
What You Can Give to the Foundation
There are many types of tax-deductible gifts which can be made to the Foundation, including life income opportunities and other financial planning arrangements that can benefit both the donor and Woodbrook. Foundation gifts may be restricted or unrestricted. Examples of gifts include a bequest in your will, designation of the Foundation as a beneficiary of your retirement plan or a life insurance policy, and various trust arrangements. Visit the Ways to Give page for more details.
The Foundation is registered with the Internal Revenue Service as a 501(c)(3) organization and thus contributions to the Foundation are tax deductible as permitted by law. Comments contained herein are intended only to show some alternatives by which you can make a charitable gift or bequest thereby minimizing Federal, and possibly state, tax liabilities as authorized by the Internal Revenue Code and various state tax laws. All are examples of a general nature only and should not be applied to your specific situation without first consulting your attorney or other advisors.