Two Seeland Park Residents Make Matching Gift Pledges to the Hammond Center for Assisted Living Building Campaign
(Grinnell, IA – May 9, 2016) Seeland Park resident Ken Eggman has made a $50,000 pledge to the Hammond Center for Assisted Living Building Campaign in memory of his wife, Verleen, who passed away in 2015. Ken’s first donation toward his 5-year pledge was paid by making a qualified charitable distribution through his IRA directly to the St. Francis Manor Foundation, a non-profit 501(c)(3) organization. In addition, Seeland Park resident Bob Terlouw has made a $25,000 5-year pledge to the cause in memory of his wife, Ella Mae.
Both of these matching gift challenges have been met with donations from many other Seeland Park residents, St. Francis Manor staff and board members, and local area residents. “We are very grateful to Ken and Bob for their generous pledges as well as to the many others whose donations doubled the value of these pledges,” said Dion Schrack, Executive Administrator of St. Francis Manor.
St. Francis Manor has applied for a $3.5 million USDA loan to add the Hammond Center for Assisted Living to the St. Francis Manor campus. The USDA is in the process of approving the loan which is expected to be finalized by late spring or early summer. The immediate fundraising goal is to raise $500,000 which is the amount required by the USDA to begin construction. St. Francis hopes to begin construction in the fall of 2016.
Individuals 70 ½ or older with an IRA can avoid paying taxes on their required minimum distribution by donating directly to the St. Francis Manor Foundation through an IRA charitable rollover. Anyone interested in learning more about this giving option should contact their financial advisor or banker.
“Gifts and pledges of any amount are needed and appreciated to help us break ground on this important project for Grinnell and surrounding communities,” Schrack said. Checks to benefit the Hammond Center for Assisted Living Building Campaign should be made payable to “St. Francis Manor Foundation” and dropped off or mailed to 2021 4th Avenue, Grinnell, IA 50112. For more information about this project, contact Director of Development Mindy Van Dyke at 641-990-1381 or Executive Administrator Dion Schrack at 641-236-7592.