Commonwealth Community Trust Endowment Fund
P.O. Box 29408
Richmond VA 23242-0408
Mission Statement

 

  • To provide people with special needs who live throughout the United States and their families a convenient, cost-effective framework for the administration of both Third-Party and First-Party Pooled Special Needs Trusts that supplement government entitlement programs such as Supplemental Security Income (SSI) and Medicaid.

  • To educate families, people with special needs, and professionals about the benefits of a special need trust.

  • To award individuals with disabilities who reside in Virginia and demonstrate a financial need with a monetary grant to be used for services, medication, and/or equipment through CCT’s Charitable Fund Award Program.

 

Leadership
CEO/Executive Director Joanne Marcus
Board Chair Neal Walters
Board Chair Company Affiliation Scott / Kroner, PLC
Contact Information
Address P.O. Box 29408
Richmond, VA 232420408
Telephone 804 740-6930
Fax 804 740-6065
E-mail info@trustcct.org
History and Background
Year of Incorporation 1991
Former Names
NameYear
Chesterfield County Community Trust Endowment Fund1990
Financial Summary
 
 
Projected Revenue $519,715.00
Projected Expenses $547,815.00
Statements
Mission

 

  • To provide people with special needs who live throughout the United States and their families a convenient, cost-effective framework for the administration of both Third-Party and First-Party Pooled Special Needs Trusts that supplement government entitlement programs such as Supplemental Security Income (SSI) and Medicaid.

  • To educate families, people with special needs, and professionals about the benefits of a special need trust.

  • To award individuals with disabilities who reside in Virginia and demonstrate a financial need with a monetary grant to be used for services, medication, and/or equipment through CCT’s Charitable Fund Award Program.

 

Impact

2014 was an exceptional year for Commonwealth Community Trust. At the end of the year, we celebrated an important milestone of having served more than 1,000 beneficiaries since inception in 1990. Similar growth was seen in funded trusts under management, which reached a level of $38 million. National growth of the organization continued as evidenced by participants located in 30 states. The Charitable Fund Award provided grants to 85 disabled individuals totaling over $52,000.

Current Year Goals

We expect to see continued growth in the number of beneficiaries served and the amount of assets under management in 2015. Outreach efforts will be strengthened by enabling access to information on our website, social media opportunities, enlisting national organizations that serve people with disabilities and articles for publications. Additional funding sources will be explored to support the Charitable Fund Award. To accommodate organizational growth, one new full time position will be added to our staff.

Needs
  • Donations to support our Charitable Fund Award, which helps Virginians with disabilities improve their quality of life through grants used to purchase equipment, medication or services.
  • Seasonal administrative help is needed in December 2015 and March/April annually to prepare mass mailings to clients.
  • The opportunity to provide educational programs or written materials to public, nonprofit or other organizations that serve people with disabilities as well as attorneys, financial planners, accountants and health care professionals.
  • General unrestricted donations are always welcome!
Background
Commonwealth Community Trust (CCT) is a 501(c)(3) national nonprofit organization that administers affordable and efficient pooled special needs trusts for people with disabilities.
 
Commonwealth Community Trust (CCT) was established in 1990 by parents who have a child with a disability, along with concerned professionals. The founders wanted to provide Special Needs Trust administrative services for people who became disabled as a result of an accident, medical or hereditary condition, or other circumstance.
 
From 1990 until 2000, the organization was Board-driven. In 2000, Joanne Marcus was hired as the Executive Director. In 2006, with the addition of staff, CCT moved from a home/office into office space and in 2013 to larger office space in order to accommodate growth. Today CCT is managed by a Board of Directors who serve with a caring heart and without compensation. Our volunteer Board of Directors is comprised of at least two members who are related to an individual with a disability, legal and financial professionals, and experts who work in the disabilities field.
 
Located in Richmond, Virginia, CCT employs six full-time and part-time staff as of July 2015. CCT staff members are knowledgeable about rules governing trusts for clients receiving Supplemental Security Income (SSI) and Medicaid in order to preserve these benefits.
Areas of Service
Areas Served
Area
National
The Charitable Fund Award provides grants to disabled Virginia residents who demonstrate a financial need.
Board Chair
Board Chair Neal Walters
Company Affiliation Scott / Kroner, PLC
Term Oct 2015 to Oct 2018
Email info@trustcct.org
Board of Directors
Board Members
NameAffiliation
David Acree Meadows Urquhart Acree & Cook, LLP
Alexandra Badman Roberson, Shepard & Turner, PLC
Aaron Barr Marks and Harrison
Matthew Buckley SunTrust Bank
Stephen Burns ArPark Law
Penn Crawford Marks & Harrison
Craig Davis Reinhart Harper Davis
Mary Ellis Burdow, Bowen & Ellis, P.C.
Ron Feinman One World, Legacy and Estate Planning, LLC
Gary Freeman G4 CPA Firm, Inc.
Michelle Johnson Henrico County Community Support Services Board
Kristine Lansing Virginia Asset Management, LLC
Gary Levine Non-Profit Connection
John McFarland Virginia Commonwealth University
Javier Menendez Virginia Premier Health Plan, Inc.
Michael Phelan Phelan|Petty, PLC
Sean Ryan The Hodges Partnership
Heather Szajda Heather H. Szajda, PLC
Neal Walters Scott|Kroner, PLC
Desi Wyatt SunTrust Investment Services, Inc.
Nathan Zasler Dr.Concussion Care Centre of Virginia, LTD and Tree of Life Services, Inc.
Board Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 0
Caucasian 20
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 16
Female 5
Governance
Board Term Lengths 3
Board Term Limits 3
Written Board Selection Criteria? No
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 89
Number of Full Board Meetings Annually 3
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Joanne Marcus
Plans
Organization has a Strategic Plan?
Programs
Description
Administer Self-Funded Pooled Special Needs Trusts for participants while preserving government benefits for those clients receiving SSI and/or Medicaid. Maintain a convenient, cost-effective framework with a small minimum amount required to establish a trust. Offer education and outreach to inform people with disabilities, their families, and professionals about the services of CCT.
Budget $276,070.00
Description
Administer Third-Party Pooled Special Needs Trusts for participants while preserving government benefits for those clients receiving SSI and/or Medicaid. Maintain a convenient, cost-effective framework with a small minimum amount required to establish a trust. Offer education and outreach to inform people with disabilities, their families, and professionals about the services of CCT.
Budget $55,160.00
Description
Award up to $1,000 per annum for equipment, medication, and/or services to individuals with disabilities living in the state of Virginia who demonstrate financial need. Each recipient of an award must meet the Social Security Administration definition of disabled and meet the Federal poverty guidelines or receive SSI or Medicaid.
CEO/ED/Board Comments Please note that Special Needs Trust administration is available in all 50 states nationwide, with the exception of Iowa. The Charitable Fund Award is for Virginia residents only.
Fiscal Year
Projected Revenue $519,715.00
Projected Expenses $547,815.00
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
------
Government Contributions$45,450$45,450$45,450
Federal------
State$45,450----
Local------
Unspecified--$45,450$45,450
Individual Contributions$383,890$91,168$190,804
------
$316,881$308,108$247,430
Investment Income, Net of Losses$45,426$48,796$21,998
Membership Dues------
Special Events------
Revenue In-Kind------
Other------
Expense Allocation
Fiscal Year201520142013
Program Expense$439,573$387,953$378,227
Administration Expense$83,663$82,175$89,162
Fundraising Expense$0----
Payments to Affiliates------
Total Revenue/Total Expenses1.511.051.08
Program Expense/Total Expenses84%83%81%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$1,787,220$1,479,992$1,458,862
Current Assets$80,511$95,268$61,195
Long-Term Liabilities$95,620----
Current Liabilities$1,432$3,089$26,480
Total Net Assets$1,690,168$1,476,903$1,432,382
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities56.2230.842.31
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets5%0%0%
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit 5/2015View
Comments
Foundation Comments
  • Financial statements prepared internally by the organization.
  • Financial analysis performed with Form 990, with supplemental information provided by the statements.