Thomas H. and Alyce S. Wells Family Fund
Est. in 2022 as a designated fund by Tom & Alyce Wells to benefit BHcare, Great Hill Hose Company, Housatonic Council BSA and the Recreation Camp.
The Thomas H. and Alyce S. Wells Family Fund at the Valley Community Foundation (VCF) supports four organizations close to the Seymour couple’s hearts -- BHcare, the Great Hill Hose Company, the Housatonic Council Boy Scouts of America, and the Recreation Camp, Inc.
All four Valley organizations will benefit from the fund now and in the future thanks to Tom and Alyce’s generosity.
“We have supported these organizations for years and by setting up this fund it basically endows our annual giving guaranteeing that support will be there long after we are gone,” Tom said. “These organizations have all played a significant role in making the Valley better and we wanted to ensure they can continue to serve the community.”
The Wells family is one of the oldest in the Valley, stretching back several generations. Tom, a retired banker, is also very familiar with VCF. In 2017, he and his siblings established a VCF fund to honor their parents – Henry Shelton Wells and Edith Birdseye Wells.
“We hope that our fund can help these organizations expand their reach and impact, and that it will inspire others in the community to give back in their own ways,” Alyce said. “We have been fortunate to have the means to make this contribution and we hope that it will make a meaningful difference in the lives of those who are served by these organizations.”
Tom and Alyce established the new fund using a portion of an IRA’s required minimum distribution, or RMD. Instead of Tom and Alyce taking the distribution as taxed income, the IRS allows the RMD to come directly to VCF and their donor designated fund untaxed.
“We can’t do that with donor advised funds, that’s why we chose the donor designated fund,” Tom said. “Also, this kind of fund allows us to let go so VCF can make the annual grants for us.”
BHcare provides behavioral health and domestic violence services in the Valley. The Great Hill Hose Company in Seymour is a volunteer fire department. The Housatonic Council Boy Scouts of America provides youth development programs and camping, and the Recreation Camp in Derby offers outdoor activities such as swimming and boating for children and adults on the Housatonic River.
“We hope that our contribution and new fund will inspire others,” Tom said.
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