Major Categories of Need at Kendal at Hanover

Unrestricted Funds: These funds allow the Board to use principal and income to support the highest Kendal priority, such as direct debt reduction, with its moderating effect on monthly fee increases.

The flexibility afforded by unrestricted funds, whether they come in the form of gift, memorial contribution, or bequest, allows the Board to apply the money exactly where it is needed most, whenever it is received.

The General Endowment Fund:  Established in 2002, this Fund also provides unrestricted income, but the principal remains intact and will grow over time.  Only the Fund's income will be spent for purposes determined by the Board of Directors.

A much needed complement to Kendal's restricted funds, the general endowment is a particularly effective way of building the long-term financial strength of our community, one part of which is keeping a reasonable rein on monthly-fee increases.

Funds for Designated Projects:  Residents and others may elect to support future projects.  Examples of their past generosity are: the Clinic and Whittier renovation, general Health Center support, the renovation of the Farmhouse, the building of the perimeter walkway, the creation of the putting green, enhancements to the climate control in the dining area, and other capital improvements.

The support of special projects reduces Kendal's dependence on debt, and makes a wonderful difference to the morale of the community and to the quality of life here.

Named Funds:  Already Kendal is fortunate to have the Cadbury Fund for resident financial assistance, the Fry Fund for entry-fee aid, the Pickett Fund for staff education opportunities, and the Webster Fund, a memorial gift for the support of musical performances.

Gifts to these special funds resemble endowments and underwrite important ventures that go beyond the usual bounds of Kendal's annual budget.