Donations
Home Life is continually looking for support. Home Life accepts many types of donations such as financal assistance, volunteer time, clothes and household items. For information on how to support Home Life through a donation please feel free to contact Home Life Main Office by email or phone as listed below. Home Life's Federal Tax Number is 23-7230042.
Endowment Fund
Is there a Home Life Endowment Fund?
Yes, the Board of Directors created the Home Life Endowment Fund and is seeking to expand it during this fund-raising campaign.
Will the "new funds" go into the regular operating budget?
No, the new funds will go into a Home Life Endowment Fund set up through the Oregon Community Foundation (OCF) in the name of Home Life. Funds will be pooled with other accounts within OCF and will be managed by the OCF Board through the Endowment Partners Program. The current OCF pool includes more than 1,000 funds and has a total capital value of approximately $492 million dollars. The Home Life Board of Directors will have control over expenditures of the disbursements from the Home Life Fund by the OCF. This disbursement is set by the Board of the OCF and is currently 5% per year. The balance of the income from the fund (historically, 10% or more) is kept within the fund to maintain the value of the principal.
How is the interest from the Home Life Endowment Fund going to be used?
The interest on the funds generated through the Home Life Endowment Fund will be used to extend our successful Supported Living Program to include new clients from the Benton County "wait list." Supported Living is a program designed for independent living and does not include purchase of land or buildings.
Who will be the direct recipients of the money?
Young adults with developmental disabilities who no longer have access to school training and school services here in Benton County. They are, therefore, excellent candidates for our Supported Living program.
Will my gift give forever into perpetuity?
Yes, the funds raised in this campaign will remain in the Home Life Endowment Fund. Home Life is an IRS 501(c)(3) tax-exempt organization supporting individuals with developmental disabilities. In case of the dissolution of Home Life, the assets will be transferred to a similar 501(c)(3) agency either through the action of the Home Life Board of Directors or the OCF Board of Directors.
In addition to monetary contributions (donated directly to Home Life, which then deposits them into the endowment fund), OCF also accepts the transfer of stocks, bonds, real estate, and other forms of investments.
For more information on the Home Life Endowment Fund, contact Home Life's Executive Director, Dave Zaback, zaback@peak.org. You can also visit the Oregon Community Foundation for more information.
