The Adult Center is a non-profit 501(c)(3) organization with dedicated, professional management and a Board of Directors, elected by the membership, working together as a team.
It is the mission of the Adult Center of Prescott, Inc. to provide enrichment opportunities and facilities for social interaction, recreation, education, and health information to the adult population of the greater Prescott area.
In 1993, the Adult Center Board of Directors approved and established an Endowment Fund to ensure continuation of the program.
Why an Endowment Fund?
An Endowment Fund is a tool for long-range financial planning. Donations to an Endowment Fund provide monies for such purposes as:
- Promoting the mission of the Adult Center
- Funding a service demonstration project
- Paying for major capital expenditures
- Emergency or special needs of the Adult Center
Accumulated interest on the donated funds provides an ongoing flow of income that can be used to supplement operating budgets, help finance capital projects, and meet other center needs. The income from the Endowment Fund also enables the Center to maintain membership dues and activity fees at a nominal level to ensure programs and services are accessible to serve a broad range of income levels.
Why be a Donor to the Center’s
The fund is a vehicle enabling members and others in the community to utilize donations as a means of estate planning and as memorials in memory of loved ones.
Bequests to the Endowment Fund are utilized to provide services and programs for the adult population of Prescott and the neighboring communities.
What are the Advantages
to the Donor?
Personal satisfaction of fulfilling charitable interests during one’s lifetime.
Immediate recognition from the organization.
Tax advantages: Immediate deduction in the year the gift is made. Decrease or elimination of capital gain taxes for a gift of appreciated property.
How are the Assets Managed?
All donations received are deposited in total to the Fund. There are no management or other fees imposed against the principal balance.
The assets of the fund are managed and invested with the objective of achieving the greatest return consistent with the fiduciary character of the fund.
The fund is managed, without charge, by Scott Financial Management, an independent, certified financial planning firm doing business in Prescott.
The Endowment Fund consists of a
diversified portfolio of stocks and bonds.