Within our guardianship/conservatorship program, to serve persons with disabilities who may be facing declining physical and mental health and limitations such as poor living conditions, dwindling finances and social isolation.
Within our trust program, to provide trust beneficiaries with disabilities and their families competent and caring administration of trusts administered in such a way as to enhance other income and benefits available for support.
Two most significant goals for the current year:
1. To continue to provide competent and caring fiduciary services to persons without the friends, family or other supports to provide such services.
2. To continue to work with local support agencies to provide the least restrictive, best care for persons with mental limitations.
Two most significant accomplishments of the past year:
1. Attained low cost or pro bono legal services for those customers without the resources to find such representations for themselves.
2. Continued education of staff in fiduciary management.
GTC’s operations are closely supervised by an involved Board of Directors who meet formally and informally and regularly consult with staff between meetings. In most instances, GTC serves as fiduciary by court appointment and is subject to regular reporting and oversight requirements of the courts. As a trust company with its Certificate of Authority from the Tennessee Department of Financial Institutions, GTC is subject to the regulatory oversight of the Department. GTC must also report regularly on its handling of client funds to agencies such as the Veterans Administration and the Social Security Administration. But fiduciary oversight and responsibility are not the only areas of competence needed; GTC seeks to cultivate board members with experience in fundraising--particularly in major individual gifts as well as foundation grants--to provide the leadership needed to bring existing donors to new levels of giving while overseeing the efforts to increase the donor base.
Ms. Mitchell, who has been with GTC since 1998; previously serving as Associate Executive Director and Director of Social Service until she became Executive Director in 2008. Prior to joining GTC, she was employed by the Mental Health Cooperative, Nashville. She is a graduate of Cumberland University, where she earned a Master of Science degree in Public Service Management. Prior to that, she received a Bachelor of Science degree in Social Work from Middle Tennessee State University. Ms. Mitchell has been a National Certified Guardian with the Center for Guardianship Certification since 1999.
GTC’s operations are closely supervised by an involved Board of Directors who meet formally and informally and regularly consult with staff between meetings. In most instances, GTC serves as fiduciary by court appointment and is subject to regular reporting and oversight requirements of the courts. As a trust company with its Certificate of Authority from the Tennessee Department of Financial Institutions, GTC is subject to the regulatory oversight of the Department. GTC must also report regularly on its handling of client funds to federal agencies such as the Veterans Administration and the Social Security Administration. Despite a proven record of success, GTC lacks the human and financial resources to market its services to clients who can afford to pay the professional fees that keep GTC operating to serve indigent and paying clients alike.
GTC seeks to increase revenues by offering a key service: management of funds below the threshold of desirability for banks and other trust service entities. Where most trust management services are for-profit and can afford to turn down all but the wealthiest clients, GTC offers a "Self-Settled Pooled Trust" service for qualifying individuals whose funds may not be significant enough to be accepted by such trustees. By pooling these funds, GTC enables clients with more limited resources to receive professional trust management services at a fraction of the usual cost for such services. The Pooled Trust provides a great opportunity to bring in new clients, but we are challenged to develop this program so that it can add to the revenue stream and thereby enable GTC to accept additional indigent wards of the court. There has been little in the way of marketing for this service, and since GTC lacks the personnel and funds to develop a website—let alone funds to place advertisements and personnel to present the concept to target audiences—the opportunity to join the pooled trust remains unknown to most of the target market population.
Indirect Public Support HelpIndirect public support represents revenue received through solicitation campaigns. This includes funding United Way and other federated fundraising organizations, but does not include donor designated contributions.
Earned Revenue HelpEarned revenue represents income generated in direct exchange for a product or service.Earned income includes income from government contracts.
GTC receives income from diverse sources including individual donations, foundation and corporate grants, and United Way. Earnings from fiduciary fees, most of which are subject to court approval, account for the greater part of revenues. Due to extensive reporting and oversight requirements, the necessity of frequent court appearances, and the necessity of maintaining a professional and highly trained staff, the services we provide, particularly to the indigent, unavoidably result in substantial administrative costs. Nevertheless, fees charged to those who can afford them remain modest by community standards. The flexibility afforded by the small staff and an active volunteer board have thus far allowed GTC to maintain a modest reserve. Yearly financial results shown on the audit and 990 are calculated according to the accrual, rather than the cash accounting method. Fiduciary work performed for fee-paying clients but not collected for, or in many cases, even billed at the close of the fiscal year are calculated in accrual income for the year as receivables. In some cases, payment on a receivable is not expected for some months or even years. Profit and loss in any given year is in large part a function of the increase or decrease in receivables; consequently, results shown on the audit and 990 do not give an accurate picture of actual cash profits and losses for that year. The GTC Board relies almost entirely on the cash accounting method in making and tracking its budget because it accurately reflects actual results. Operating budget figures shown are calculated according to the cash method and do not necessarily reflect activity in reserve and grant accounts.
“I’ve never shared my story with anybody.” -- The first step toward recovery can be the most difficult. The ability to engage in productive activities, to find relationships with other people fulfilling, and to adapt to change and cope with adversity are each vital to enjoying a happy and healthy life. But each of these facilities can be significantly impaired by mental health disorders. A mental health diagnosis should not define who a person is, or what a person can achieve through treatment and support. Middle Tennessee nonprofit organizations are ready to help make that first step toward good health a little easier.
Senior Centers across the United States are preparing for a wave of hip baby-boomers. Tai chi and ballroom dancing classes, health and wellness workshops, genealogy seminars, cultural activities and travel, art lessons, community theater and computer classes are just a few of the offerings at nonprofit Senior Centers in Middle Tennessee – and are examples that, in the words of Bob Dylan indicate that “the times they are a-changin'” (Bob turns 70 in 2011, by the way).
Middle Tennessee senior centers – many of which are nonprofit – meet a myriad of needs and work diligently to find exciting programming to attract today’s senior. With medical advances increasing the average lifespan, there is a growing need for services to keep this large population active, engaged and independent longer. Middle Tennessee is a hotspot for retirees because of its climate, central location, favorable tax policies and abundance of healthcare facilities.
Copyright © 2014 The Community Foundation of Middle Tennessee
3833 Cleghorn Avenue, Nashville, TN 37215