ACHIEVE Foundation Trust
The ACHIEVE Foundation Trust is a Type “C” Supplemental Needs Trust created in accordance with federal and state companion laws pursuant to OBRA ’93. This is a pooled Supplemental Needs Trust created for the benefit of people with disabilities, as defined by the Social Security Law. This type of irrevocable trust is funded with the assets of the individual with disabilities and may be established by an individual having capacity, a parent, grandparent, guardian or court.
The ACHIEVE Foundation Trust enables an individual with a disability to create an irrevocable sub-account under the Trust and transfer assets into the account while remaining eligible to receive governmental benefits. Without the option of a Supplemental Needs Trust, an individual could be forced to spend the majority of his or her assets in order to remain eligible to receive governmental benefits. The Trust is a tool for individuals who receive funds such as: an outright inheritance, an award from a lawsuit, retroactive benefit payments, or income from other sources, to effectively transfer those assets while remaining fully eligible to receive governmental benefits.
The Trust, at the sole discretion of the Trustees (The ACHIEVE Foundation and a financial institution managing the Trust account) will make distributions on behalf of the beneficiaries in order to enhance their quality of life. These distributions assist in meeting those needs not met, or intended to be met, by governmental benefits. Distributions from the sub-accounts are not intended to supplant, diminish or impair the beneficiary’s receipt of governmental benefits.
The ACHIEVE Foundation Trust is primarily for individuals who are receiving governmental benefits such as SSI or Medicaid. Accounts are established with a lump sum of funds and are meant to be kept on deposit and drawn as needed. Upon the death of the beneficiary, the entire remaining balance of the beneficiary’s account will be paid to the ACHIEVE Foundation Trust “Remainder Sub-Account.” These funds will be used to provide assistance to other individuals with disabilities. The funds remaining in a beneficiary’s account at death are not required to be repaid to the State, as long as these funds remain with the non-profit organization to assist other individuals with disabilities.
Download additional information about the ACHIEVE Foundation Trust.
For additional information regarding the ACHIEVE Foundation Trust, please contact Preston Evans in the Development Office, at 607-231-5262 or via email at firstname.lastname@example.org.
ACHIEVE Foundation Board of Directors
- Anne Catalano, Chairperson
Tioga State Investment Services
- Michael Fosbury, Vice Chairperson
- Ryan Mead, Secretary
Hinman, Howard & Kattell
- Edgar Parsons, Treasurer
- Dave Clements
- Beverly Docteur
- Jim Weed
- *Dave Sebastianelli
Brown & Brown Empire State