Livengood Charitable Trust
How one woman’s dream helped Sherman elders.
Mrs. Byrd Livengood, 1883-1968, was born to a wealthy Texas Family. After the passing of her mother in 1956, she received a sizable estate. Choosing to be good steward, she created an unfunded trust for the management of her properties and for the disposition of her estate.
The trust provided that after her death a portion of the trust would be held to provide income for a cousin, Saleeta Brink Fielder, and the balance held for the care of elderly people and for the establishment of a facility for the care and maintenance of elderly people. The trust was funded in 1968 following her death.
IRS tax law changes resulted in the creation of the Wilson N Jones Trust Fund for Aid to Indigent Citizens of Grayson County, Texas. The fund received distributions from the Livengood trust; providing financial aid to elderly people not covered by Medicare or whose healthcare requirements exceeded Medicare limitations.
Saleeta Brink Fielder’s death in 2001 made the entire trust available for charitable use. This resulted in the creation of a private federal foundation, now known as the Byrd Fielder Livengood Trust, to be used to assist in medical expenses of elderly citizens. For practical purposes this objective was met by supplementing Medicare and Medicaid deficiencies at Wilson N Jones Hospital, which continued until that hospital became a for profit facility.
While the Trust is administered by the Corporate Trustee, grants are reviewed and approved by the individual trustees which consist of the attorney for the Trust and three local Grayson County residents: one a member of the Covenant Presbyterian Church in Sherman, one from The First Baptist Church in Sherman, and one Sherman TX individual having knowledge of charitable organizations for the elderly indigent.
These Trustees operate within the guidelines of Section 501(c)(3) of the Internal Revenue Code, exclusively to provide assistance to and support the care of worthy elderly persons residing in the Sherman, Texas area. Such assistance may be provided in the form of distributions and grants to organizations described in Section 501(c)(3) of the Code or directly to qualifying individuals, as the Corporate Trustee and the Board of Trustees shall mutually determine. The trustees meet a minimum of two times each year to award grants to recipients who qualify under the terms of the trust, generally in November and May.
These Trustees operate within the guidelines of Section 501(c)(3) of the Internal Revenue Code, exclusively to provide assistance to and support the care of worthy elderly persons residing in the Sherman, Texas area.