Alabama Family Trust Corporation

Overview

The Alabama Family Trust Corporation is a nonprofit organization based in Alabama, designated under the IRS as a 501(c)(3) tax-exempt entity. It specializes in administering pooled special needs trusts, primarily aimed at supporting individuals with disabilities. The trust serves clients throughout the United States, facilitating the management of assets while helping beneficiaries maintain eligibility for essential government benefits such as Supplemental Security Income (SSI) and Medicaid.

History

Founded to address the financial needs of individuals with disabilities, Alabama Family Trust plays a critical role in promoting financial independence while ensuring compliance with various public assistance programs. By allowing clients to place assets from legal settlements, gifts, and inheritances into special needs trusts, the organization helps safeguard benefits that might otherwise be lost due to asset ownership.

Services Offered

The Alabama Family Trust provides the following key services:

• Special Needs Trust Administration: Manages pooled trusts that enable clients to protect and utilize their assets without jeopardizing their eligibility for government assistance.

• Resource Guidance: Offers educational materials and workshops for families, caregivers, and professionals regarding the establishment and management of special needs trusts.

• Collaborations with Legal Professionals: While the trust does not provide legal advice, it works closely with attorneys to ensure clients have access to the necessary legal resources for trust setup and maintenance.

Financial Overview

As of the latest available data, the Alabama Family Trust Corporation reported a revenue of approximately $1.39 million, with expenses around $920,000. The organization boasts total assets of approximately $3.39 million and total liabilities of about $665,000, indicating a stable financial foundation for supporting its operations and services to clients.

Community Impact

The Alabama Family Trust Corporation aims to enhance the quality of life for individuals with disabilities by empowering them with financial resources. The trust facilitates various activities and programs that improve social engagement and well-being, contributing to the dignity and independence of its beneficiaries. Testimonials from clients highlight the significant positive changes facilitated by the trust in their lives, underscoring its importance in the community.

Recognition and Ratings

The organization is recognized within the nonprofit sector for its effective administration and commitment to service, earning a rating of 3 out of 4 stars on Charity Navigator, which reflects its operational transparency and accountability.

Conclusion

Alabama Family Trust Corporation continues to be a vital resource for families navigating the complexities of financial planning for individuals with disabilities. By prioritizing the needs of its clients and fostering collaborations with legal and health professionals, the trust remains dedicated to empowering vulnerable populations throughout Alabama and beyond.