How is ElderNet funded?
ElderNet has 3 sources of support:
- Donations from businesses, organizations, and concerned residents like you provide the foundation of support that keeps ElderNet vital.
- Grants specifically targeting low-income elderly individuals from Lower Merion Township, Narberth Borough, and Montgomery County provide a safety net for direct service.
- Foundation grants partially cover ElderNet’s operating support, special programs and salaries.
Ways that you can give
ElderNet, like most non-profit organizations, depends on charitable giving to continue its mission. Residents of Lower Merion and Narberth have shown a great desire to share their good fortune and to help their neighbors in need. Each gift is very important to ElderNet. We thank our donors and volunteers as they continue to make it possible for ElderNet to fulfill its mission.
- Gifts of money: Most of our donors make a contribution through the website or by mail in response to our annual appeal. This provides immediate help to ElderNet and provides the giver with a charitable gift tax deduction in the year of the gift. Some cash gifts are restricted and designated for the ESSLM emergency fund (Operation Holiday) or other projects.
- Gifts of stock: ElderNet may sell or hold the stock. A gift of stock may provide even greater tax benefits to the giver when it is part of a careful estate plan.
- Gifts of life insurance: This may be a way to make a substantial future gift to ElderNet for a relatively modest annual expense.
- Bequests: One of the most meaningful ways to support ElderNet is through your will. You may specify a particular asset, a percentage of your estate or the residual of your estate after other payments. Your attorney or tax adviser can provide details for your situation and help you decide on the best course of action.
- Donor Option Agency: ElderNet is a United Way Donor Option Agency (#03022). Workplace giving and giving to the United Way Community Appeal are a fitting choice for some Philadelphia area residents. ElderNet may be supported through the United Way by selecting ElderNet as your donor option for a portion, or for all of your gift to United Way. By using the Donor Option Number 03022 and the name ElderNet, your gift will be designated to fulfill our mission in the Lower Merion and Narberth community.
How has ElderNet planned for the future?
Since ElderNet’s inception in 1976, we have looked to the sources listed above, and to the tireless efforts of hundreds of volunteers and a small dedicated staff to serve our neighbors. With careful oversight provided by committee advisors and board directors, we have created an operating reserve fund in the event that grant and governmental funding sources become unavailable, so that ElderNet can continue offering services for about one year. Your gift toward the reserve fund, or other planned gift, permits ElderNet to look to the future at a time when the elderly population in our community choosing to “age in place” continues to increase significantly.
For more information, please contact Steve Monahan, our Finance Committee chair, via ElderNet at [email protected].