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Special Funds
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You may designate your donation to be added to any of Wellspring Senior Foundation’s special funds.
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Gap Fund - This fund, established in 2008, supports the operations of Eaton Terrace II Assisted Living Center. ET II was built in 1988 to provide housing and services for a mix of “Private Pay” residents and those who rely on Medicaid for support. Because Medicaid reimburses ET II at nearly $300 per resident, per month, below the cost of care, a certain payer mix of “private pay” and “Medicaid” must be maintained in order to make economic sense of ET II. However, as people are living longer and health costs are increasing, “private pay” residents run out of funds and turn to Medicaid, which in turn challenges our payer mix ratio and our ability to maintain our mission of serving low-income seniors. Unlike many other providers, it is our policy to continue housing these residents, instead of forcing them to find other accommodations. Our new Gap Fund will provide operating support for ET II when the “ideal payer mix” is not in effect.
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Resident Assistance Fund - Low-income residents of Eaton Senior Programs’ facilities receive distributions from this fund upon the recommendation of Social Services and Care Consultation Staff and after evaluation by Wellspring Staff. Past distributions have assisted residents with medical costs, purchased shoes and clothing, etc. |
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Employee Assistance Fund - These funds are available for staff emergencies and distributions are recommended by Management Staff and evaluated by Wellspring Staff. |
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Garden Club Fund - This fund was established to purchase plants and supplies for maintaining the gardens and flower pots at Eaton Terrace. Residents and staff volunteer as members of the Garden Club.
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Endowment Fund – The Eaton Senior Programs Endowment Fund, established in 2006, and the Wellspring Senior Foundation Endowment Fund, established in 2005, were created to provide for the future by creating long-term funding sources and a stream of funds that may be used to support operations or specific projects, in accordance with Eaton Senior Programs’ mission - To provide, on a non-profit basis, affordable housing and services designed especially to meet the physical, spiritual, social and psychological needs of seniors, and to contribute to their health, security, happiness and worth, enabling all to live to their fullest potential.
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LMC Community Foundation awarded an Endowment Fund Challenge Grant to Eaton Senior Programs that matches 50 cents for each dollar added to the Endowment Fund before March 31, 2008. This fund will provide for the future by creating a long-term funding source and a stream of funds that may be used to support operations or specific projects.
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Fund Designated by Donor - If you wish to set up a special fund for Eaton Senior Programs’ residents or facilities, please contact us at 303-937-5107 or by email:
wellspring@eatonseniorprograms.org
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303-937-3000 · 333 S. Eaton Street · Lakewood, CO 80226
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