Welcome to The Arcadia Foundation, a unique nonprofit organization, whose mission is to provide support for the needs of the residents of Arcadia Retirement Residence and to provide benefits and services to seniors in the greater community. We invite you to learn about the history of The Arcadia Foundation, who manages it, sources for its funding, what The Foundation has done to date, and what the future holds.
▪ What is The Arcadia Foundation?
The Arcadia Foundation is nonprofit corporation that was formed in May 1998 by Arcadia Retirement Residence. It is exempt from income taxes as an organization described in Section 501(c) (3) of the Internal Revenue Code.
▪ What is the purpose of The Arcadia Foundation?
The purpose of the Foundation is to accumulate and invest funds for the purpose of providing income that can be used to defray part of the cost of subsidization for Arcadia residents and other needs and to assist with the needs of Seniors in the community at large.
▪ Where do the contributions to the Foundation come from?
Contributions to the Foundation have come from many sources, but the majority of the contributions have come from residents and former residents. A gallery of portraits of individuals who have made significant gifts to the Foundation is located across the Gift Shop in the basement of Arcadia. These include former residents, as well as friends of Arcadia. A list of the current donors to The Arcadia Foundation is enclosed.
▪ What is the value of the assets of the Foundation?
The Foundation currently has nearly $11,000,000 of assets, including cash, marketable securities and fixed income securities. At present, there are four Charitable Remainder Trusts and eight charitable gift annuities. The gift annuities range in size from $30,000 to $200,000.
▪ What has The Arcadia Foundation done during the past year?
The Arcadia Foundation has continued to contribute significant amounts to Arcadia Retirement Residence to assist in providing services to those residents who have depleted their assets. The Foundation has also provided support to organizations in the community who provide programs and services to Seniors. During the past year these nonprofit organizations include: Central Union Church, the Hawaii State Chapter of the American Red Cross, Hospice Hawaii, CSI, Inc. (provider of financial services to Seniors), Hawaii Meals on Wheels and the Geriatric Program at the John A. Burns School of Medicine of the University of Hawaii. It has also provided assistance to the newly formed Arcadia Home Health Services, whose mission includes providing care to homebound Seniors who require financial assistance.
▪ How can I give?
The Arcadia Foundation accepts cash gifts as well as noncash gifts that can be readily liquidated into cash. Noncash gifts received in the past include marketable securities, automobiles, condominium apartment units, rare coins and paintings. The Foundation also readily accepts deferred gifts and bequests.
▪ How can I make a bequest to The Arcadia Foundation?
To make a gift to The Arcadia Foundation from your estate, you must prepare and sign a new will or living trust instrument, or add a codicil to your present will or make an amendment to your present trust instrument. To ensure that your exact intentions are carried out, you should consult with your estate planning attorney.
▪ What are the tax advantages of making a bequest?
An outright gift to The Arcadia Foundation from your estate is entirely free from federal estate taxes. If the assets were to be left to an individual, a significant amount might go to federal estate taxes.
▪ What are life income gifts?
A life income gift allows you to make a gift to Arcadia while providing income for yourself or others for a period of time before The Arcadia Foundation is permitted to use your gift. A life income gift to The Arcadia Foundation is made by transferring assets such as cash, securities, real property, or any other property to the Foundation. The Foundation will manage the investment and pay an income to you. Use the Gift Calculator to estimate your income.The payments will typically continue for your life. Interest rates currently used for these agreements far exceed present yields of local financial institutions. After the income payments end, the Foundation receives the fund principal.
▪ What are the tax advantages of life income gifts?
An income tax deduction for the current value of the “remainder interest” in the donated assets is available. In some cases what is important is that the sale of the appreciated asset after transfer to the Foundation does not give rise to any capital gains taxes on the sale.
▪ Would Arcadia consider a gift of life insurance?
This type of gift offers a way to benefit the Foundation at a relatively low cost for the donor. In order to deduct premium payments as charitable deductions, the donor must name the Foundation as both owner and beneficiary of the policy.
▪ Who should I contact if I would like to discuss gifting to Arcadia?
For additional information about gifting to Arcadia, please contact:
Emmet White, President
Norman Chong, Chief Financial Officer