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The foundation is responsible for administering endowment funds held in trust and for distributing the income and/or principal in furtherance of its aims. An individual revising his Will may wish to make a lasting gift but may be uncertain as to the permanency of his favorite charity or may question the ongoing needs for certain services a charity may now be providing. Another individual may wish to share his material goods with other less fortunate but may be uncertain as to which objectives to support. To such individuals, the Westbrook Foundation, Inc., offers the ideal vehicle to carry out their intentions in perpetuity. Smaller gifts or bequests to the Foundation will receive the same able management as a large trust fund, the same continuity of administration, and the same faithful and intelligent distribution of funds where and when it will do the most good. It is anticipated that perhaps the majority of donors will give the Foundation unrestricted authority to allocate funds, providing maximum flexibility as community needs change. Individual donors to the Foundation, may, of course, designate particular fields of interest or in some cases even specify organizations which they wish to support. In such cases, the Directors will do their utmost to carry out the donor's wishes.
One of the primary advantages of a Foundation is that,if the purpose
designated by any individual donor becomes undesirable, impractical, or
impossible to carry out, the Directors may be given the authority to
allocate the funds to some similar but current public use. There haven
been far too many examples of waste of benevolent funds which have been
set up for uses that have become obsolete with the passing of time. |
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