Larksfield Place Foundation
The Larksfield Place Foundation serves as a source of charitable support for Larksfield’s mission, residents, programs, and staff. The Foundation raises money to benefit and, where possible, underwrite a growing array of programs and funds.
The Foundation offers several avenues for creating your personal legacy at Larksfield Place. Among them are tax-beneficial ways to increase your income for the rest of your life. Continue reading to learn about the many ways to give, and how your gift can benefit you, your family, and the community.
Not-For-Profit Continuing Care Retirement Communities
Larksfield Place would not be the premier retirement destination in greater Wichita without charitable gifts. The community’s land, the Health Center, and the Fitness Club all exist because of charitable contributions. The Larksfield Place Foundation serves as a charitable support source for the exclusive benefit of Larksfield’s mission, its residents, programs, and staff.
The Foundation raises philanthropic dollars to benefit and where possible, underwrite a growing array of programs and funds. There are several ways to create a personal legacy supporting Larksfield Place, among them are tax-beneficial ways to increase your income for the rest of your life.
Ways to Give to Larksfield Place Foundation
Every gift to the Larksfield Place Foundation becomes a source to ensure that the community and Foundation meet their mission of enriching the lives of older adults. Operating as a separate not-for-profit corporation 501 (c) (3), the Foundation provides an array of gifting opportunities for individual and corporate donors. Support our retirement communities beyond outright cash donations with these options.
Donors can consider:
Gifts of Appreciated Property – Donors can gift investments, life insurance, and tangible property to the Foundation in exchange for a tax deduction as applicable.
Gift Annuity – Individuals can enter into a gift annuity contract, receiving an immediate charitable deduction on a portion of the principal while continuing to receive an earnings stream via the annuity contract for the remainder of the person’s life. Gift annuity earnings rates are typically higher than comparable dividend-paying investments.
Charitable Remainder Trusts – A specifically created, irrevocable trust, where individual places appreciated investments or cash within the trust and receive a stream of income during their lifetime. Upon death, the remaining assets within the trust are paid to the Foundation. These trusts can be established to support any single cause or program at Larksfield or if desired, multiple causes or programs.
Planned Estate Gifts – Individuals may choose to create, via their estate plan, a specific gift payable to the Larksfield Place Foundation upon death. With such a gift, the Foundation can work with the individual, family, and/or advisor to craft wills or trust provisions to meet the donor/individual’s wishes. Estate gifts can be developed to support a single cause or program or multiple causes or programs.
Gifts of Life Insurance – Similar to a planned estate gift, the gift of all or a portion of the proceeds from a life insurance policy can occur via simple beneficiary changes. The Foundation can assist in making beneficiary designations, including how the proceeds flow upon death, to a single cause or program, or multiple causes or programs. It is also possible for an individual to gift the entire value of a paid-up life insurance policy directly to the Larksfield Place Foundation.
Memorial Gifts – The Foundation is prepared to work with families and residents to develop any specific materials and information to facilitate memorial gifts at the time of death. Memorial gift recognition will come directly from the Foundation, and residents and/or families can specify any cause(s) or program(s).
For more information about the Larksfield Place Foundation or how to donate, please contact Mike Hambley, President at (316) 636-1000 or contact us online.