As the $5.1 million Spearville Senior Living project began, a hefty donation was made.
According to Spearville Senior Living board of directors chairman, Ron Temaat, as part of a $1.5 million capital campaign, the Tom Feist Foundation made a $1 million donation.
“I cannot tell you how grateful we are to the Tom Feist Foundation for its $1 million contribution,” Temaat said. “Its vision for the future of Spearville and surrounding area is appreciated by all of us at SSL.
“The Foundation recognizes the benefits that our project will provide. Without its support, this would be a much greater challenge. The Foundation’s foresight and generosity, as well as the tax benefits, will go a long way in helping us reach our goal.
"The community is encouraged to offer additional support with donations of any size.”
As plans move forward, more campaigns will be made as next month the “Caring for Our Elders” capital campaign goal to raise $500,000 will take place.
Spearville Senior Living will be a skilled-nursing unit offering 12 private rooms, each with a private bath and a 12-unit assisted living apartment complex.
Proceeds for SSL will be earmarked for the construction and operation.
“Our board members and ambassadors are just now beginning to contact folks who may want to consider a donation,” Temaat said. “We encourage potential donors to talk to their financial advisers about the tax benefits of contributing to our 501(c)(3) nonprofit entity.”
SSL received a $250,000 tax-credit award from the Kansas Department of Commerce last summer, something Temaat says is a reminder to donors of the opportunity for state tax credits.
According to Temaat, a donor would receive a tax credit equal to 70% of the gift. For example, for an individual or business giving $10,000, the Kansas tax credit would come to $7,000 and the federal tax deduction could be $3,000.
A federal tax deduction also applies in some cases.
“While donations certainly will be accepted anytime, some potential donors may be wondering about the best time to contribute,” Temaat said. “If we have a donation in hand by Dec. 31, it can be included in their 2019 tax planning.
“These tax credits supplement our local support by allowing a significant part of a donation to offset tax liability. This makes contributions much more attractive.”
Tom Feist Foundation board of directors president Ron Herrman said he and his fellow board members know there is local interest in having a long-term care facility in Spearville.
“Surveys were conducted and meetings were held with the Spearville community,” Herrman said. “We learned about this need and are just trying to help facilitate the project. We understood it required an influx of capital.
“This project will go a long way to eliminating the need for seniors to look to other communities for the care they need. It also will ease the burden on families.
"This will be much more convenient and less stressful. We want to help make money available for community projects that might not otherwise be possible.”
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