Pennswood Village Foundation

PENNSWOOD VILLAGE FOUNDATION ("FOUNDATION") WAS INCORPORATED IN THE COMMONWEALTH OF PENNSYLVANIA ON NOVEMBER 28, 2017. ITS CHARITABLE PURPOSE IS TO BE THE PHILANTHROPIC ARM FOR THREE ORGANIZATIONS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS 501(C)(3) PUBLIC CHARITIES: PENNSWOOD VILLAGE, PENNSWOOD VILLAGE RESIDENT ASSOCIATION AND HOSPICE CARE BY PENNSWOOD VILLAGE. PENNSWOOD VILLAGE IS A CONTINUING CARE RETIREMENT COMMUNITY LOCATED IN BUCKS COUNTY. PENNSWOOD VILLAGE IS A QUAKER-BASED ORGANIZATION PROVIDING RESIDENTIAL, HEALTH AND COMMUNITY SERVICES TO ITS RESIDENTS. THE PENNSWOOD VILLAGE RESIDENTS ASSOCIATION IS AN ORGANIZATION COMPRISED OF THE RESIDENTS OF PENNSWOOD VILLAGE, PROVIDING RESIDENTS WITH A MEANS OF SELF-GOVERNANCE AND A VOICE IN THE MANAGEMENT OF PENNSWOOD VILLAGE. HOSPICE CARE BY PENNSWOOD PROVIDES CARE THAT PROMOTES COMFORT AND INDIVIDUALIZED EMOTIONAL AND PRACTICAL SUPPORT FOR TERMINALLY ILL PERSONS AND THEIR FAMILIES. PREVIOUSLY, THESE THREE 501(C)(3) ENTITIES (COLLECTIVELY, "PENNSWOOD-RELATED ENTITIES") EACH ENGAGED IN THEIR OWN FUNDRAISING EFFORTS AND MAINTAINED SEPARATE FUNDS FOR SPECIFIC PURPOSES WITHIN EACH OF THEIR ORGANIZATIONS. PENNSWOOD VILLAGE MAINTAINS THE FOLLOWING FUNDS:- FELLOWSHIP FUND - THIS FUND PROVIDES SUPPLEMENTARY ASSISTANCE FOR RESIDENTS WHO HAVE OUTLIVED THEIR FINANCIAL RESOURCES.- EMPLOYEE SCHOLARSHIP FUND - THIS FUND ASSISTS EMPLOYEES WITH EDUCATIONAL COSTS AT A CERTIFICATE OR GRADUATE LEVEL.- THE FUND - THIS FUND HELPS MAINTAIN THE FINANCIAL STRENGTH OF THE COMMUNITY AND THE WELL-BEING OF ALL RESIDENTS.THE PENNSWOOD VILLAGE RESIDENT ASSOCIATION MAINTAINS THE FOLLOWING FUNDS:- THE ACTIVITIES FUND - CONTRIBUTIONS TO THIS FUND PAY FOR RESIDENT ACTIVITIES.- THE STAFF VACATION AND HOLIDAY FUNDS - CONTRIBUTIONS TO THESE FUNDS ARE DIVIDED AND DISTRIBUTED TO PENNSWOOD VILLAGE STAFF BASED ON HOURS WORKED.HOSPICE CARE BY PENNSWOOD MAINTAINS ONE FUND THAT ASSISTS IN PAYING FOR SPECIAL COSTS RELATED TO HOSPICE CARE, INCLUDING TRAINING AND RESIDENT PROGRAMMING ASSOCIATED WITH THE PROVISION OF HOSPICE CARE.THE CHARITABLE MISSION OF THE FOUNDATION IS TO ACCEPT DONATIONS AND PLACE THE DONATIONS IN FUNDS RESTRICTED TO BE USED AS THE DONOR REQUESTS OR TO BE PLACED IN AN UNRESTRICTED FUND IF THE DONOR PROVIDES NO DIRECTED PURPOSE.THE FOUNDATION'S BOARD IS STRUCTURED SO THAT EACH OF THE PENNSWOOD-RELATED ENTITIES APPOINTS DIRECTORS TO ITS BOARD. A MAJORITY OF THE DIRECTORS OF THE FOUNDATION ARE CHOSEN BY PENNSWOOD VILLAGE FROM AMONG THE DIRECTORS AND STAFF OF PENNSWOOD VILLAGE. THE DIRECTOR OF DEVELOPMENT FOR PENNSWOOD VILLAGE IS A BOARD MEMBER. ONE-THIRD OF THE MEMBERS OF THE BOARD ARE SELECTED BY THE PENNSWOOD VILLAGE RESIDENT ASSOCIATION. ONE DIRECTOR IS SELECTED BY HOSPICE CARE BY PENNSWOOD VILLAGE. AT PENNSWOOD VILLAGE'S DISCRETION, IT MAY SELECT ADDITIONAL DIRECTORS-AT-LARGE WHO WILL NOT BE OFFICERS, DIRECTORS, MEMBERS OR EMPLOYEES OF ANY OF THE PENNSWOOD-RELATED ENTITIES.THE FOUNDATION WILL ALLOW THE FUNDRAISING EFFORTS OF THE PENNSWOOD-RELATED ENTITIES TO BE CENTRALIZED AND COORDINATED. THE FOUNDATION WILL MAINTAIN AN UNRESTRICTED FUND FOR DONORS WHO DO NOT WISH TO RESTRICT THE USE OF THEIR DONATION TO A SPECIFIC ENUMERATED PURPOSE BUT WOULD RATHER PERMIT THE FOUNDATION TO DISTRIBUTE THE FUNDS WHERE NEEDED.