The Skaneateles Ambulance Volunteer Service Organization (SAVES) received a major gift of $50,000 from the Wikstrom Foundation. This gift toward the SAVES' Permanently Restricted Fund was received at the direction of, and through the generosity of Sieglinde Wikstrom, a long time resident of Skaneateles.
"I like antiques, but not when it comes to medicine," Wikstrom said.
SAVES began the permanently restricted fund several years ago, as a component of its capital campaign to finance the building of its $780,000 new headquarters at 77 Fennell St. At that time, several donors chose to direct additional gifts to an endowment fund, one whose principal is strategically invested for the long term and remains inviolate in perpetuity, and one only whose income and appreciation SAVES may use to help meet operating costs.
"When an organization such as SAVES is fortunate enough to have a permanently endowed fund, then it provides a bit of a cushion to help support annual operating costs," said Daniel Labeille, a volunteer board member who directs SAVES' fund raising efforts. "It's a wonderful mechanism for an organization to manage major gifts and bequests as they become 'gifts that keep on giving.' It offers a means by which donors with foresight and significant resources can provide long-term lasting benefits to a critical community resource such as SAVES."
"Dan set up the legal structure for us to be able to accept gifts," said Jeff VanBeveren, SAVES Executive Director. "Every gift is important."
SAVES headquarters is entirely debt free with a special fund set up for maintenance and repairs. SAVES relies on third party insurance payments, Medicaid and Medicare reimbursements to help meet its operating costs, but it also looks to its annual fund campaign 'Coming to the Rescue,' its fund raising raffle 'Fun in the Sun,' and municipal support to bridge the gap.