2015 annual report - Arcadia Family of Companies

2015 ANNUAL REPORT
“Good Fortune”
With thanks to Artist and 15 Craigside Resident, Kathy Yokouchi.
THE ARCADIA FOUNDATION
2015 ANNUAL REPORT
The Board of Directors for
The Arcadia Foundation:
Norman Chong
CONTENTS
3
Mission, Vision, & Core Values
4
A Message from the CEO
5
Remembering Winifred Mann
A Benefactor of the
Arcadia Family of Companies
7
A Brief History of
the Arcadia Family of Companies
9
The Arcadia Family at Work in 2015
Koren Dreher
Marvin Hall
Rev. Dr. Ted Robinson
Emmet White
President and CEO
Emmet White • ewhite@arcadia-hi.org
Chief Financial Officer
Norman Chong • nchong@arcadia-hi.org
Controller
Vivian Lai • vlai@arcadia-hi.org
12
The Arcadia Family’s Social
Accountability to the
Hawai’i Community
14
Arcadia At Home
Reaching More of Hawai’i’s Seniors &
Frequently Asked Questions
16
2015 Financial Report
18
Charitable Gift Annuities and the
Charitable Gift Annuity Process
20
A Gifting Invitation
Produced by the Arcadia Family of Companies
Marketing Department
CONTACT US
The Arcadia Family of Companies
1434 Punahou Street
Honolulu, HI 96822
808.941.0941
info@arcadia-hi.org
www.arcadia.org
2
The Arcadia Foundation is one of seven non-profit 501c3 corporations in the Arcadia Family of Companies.
Mission, Vision & Core Values
Mission
Provide senior living excellence in a gracious,
compassionate and dynamic environment which meets the
spiritual, physical and social needs of every resident, member, and
client we serve.
Vision
We are guided by a vision that calls upon us to
provide optimum effort in support of our residents, members, and
clients, and to provide benefits and service
to seniors in the greater community.
Core Values
We believe that in all we do in life
and in our work we should:
Be humble, be understanding, be gentle, be just, be merciful, be honest, be peaceful, be faithful.
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Top: Arcadia; Bottom: 15 Craigside.
Watercolor paintings by Artist Barbara Betts, Arcadia resident (deceased 2011).
A Message from
the CEO
Dear Friends,
Your ongoing support and encouragement over the years has allowed The Arcadia Foundation to provide a
caring, growing safety net of quality health services for our kupuna.
This past year, we received cash gifts and marketable securities which we added to our endowment funds.
The Foundation continues to earn interest on prior advancements for 15 Craigside, meaning our payments
are deferred until certain benchmarks are met.
By way of your donations, The Foundation provides subsidization support to 15 Craigside and Arcadia
residents who have exhausted their resources (not willfully) in order to pay for all or a portion of their care
and services. The Foundation also provides contributions and financial support, including contributions to
non-profit organizations to assist and serve our elderly in the greater community.
Your continued stewardship and contributions enable The Foundation to provide care and gifts to our kupuna
for the years to come.
Sincerely,
Emmet White
President and CEO
“Giving to The Arcadia Foundation is a
wonderful way to share and extend care
and services to residents who may need
assistance in the future.”
Sarah Moriyama, Arcadia Resident
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Remembering Winifred Mann
A Benefactor of The Arcadia Family of Companies
In 2015, The Arcadia Foundation received $1.1 million from Winnie Mann’s estate.
A Mid-Westerner from
Nebraska, Winifred, “Winnie,”
Mann and her husband, Ralph,
came to Hawai’i from San
Diego, California in 1962 when
he was assigned to a U.S.
Department of Defense
position. They moved to
places and catch people doing
things. If I saw something that
appealed to me, I would paint
it.”
While in her nineties, Winnie
made tiny seasonal note cards.
Using an exactor knife, she
would cut out very small
seasonal pictures from
Arcadia in 1983. After her
catalogs and glue them on
unlined colored card stock
husband's death in 1999,
Winnie continued to follow her
longtime interests of oil
painting, sewing, reading, and
cartooning.
A prolific artist, her 42 framed oil paintings grace
the hallways and offices in Arcadia.
Seeing her paintings in a photo album, Winnie
expressed, "This is wonderful... delighted to see
these.”
She once shared, “I began painting in high school
when I took an art elective class. I would go to
index cards. The envelopes
were cut to match the size of
each card.
15 Craigside Resident Irene
Zane shared that, "Throughout
the years I lived at Arcadia, I would go down to
the Arcadia Gift Shop to 'stock up' and purchase
holiday themed cards made by Winnie Mann ...
Christmas, Easter, Halloween, Thanksgiving. They
were extraordinary cards priced at twenty five
cents."
In one of his birthday greetings to Winnie,
Emmet White wrote, "Thank you for sharing your
gift of harmony, wisdom and wit with everyone at
Arcadia, day by day.”
Each day Winnie lived by these virtues with the
following words:
“Imperfection does not impair usefulness
You can drink from a chipped cup
If God brings you to it
He will see you through it.”
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Artwork by Winnie Mann
Top: (left) Residents at 15 Craigside gather to congratulate Minoru Tamashiro on his recognition by the Entomological
Society of America for his contributions and legacy in the field of Entomology; (right) Toshiko Tamura, a client at
Kilohana Senior Enrichment Center enjoys activities during the day.
Bottom: (left) Clients of Central Union Church Adult Day Care and Day Health Center pose on the lawn on campus;
(right) Adrienne Yee, Frances Yee, and their guest gather for the monthly “Aloha Hour,” which features drinks, pupu, live
entertainment, and fellowship.
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A Brief History of the
Arcadia Family of Companies
Arcadia is the first accredited Continuing Care
Retirement Community (CCRC) in Hawai’i. Founded
by Central Union Church, it was opened in 1967,
and offers gracious retirement living in an urban
setting with easy access to all of Honolulu’s social,
cultural, educational and entertainment
facilities, as well as shopping centers and churches.
The 13-story tower residence provides 250
independent living apartments, assisted living, 4
boarder beds, a 91-bed nursing facility, and a range
of services (such as healthcare, dining,
housekeeping and security) and amenities (such as
a solarium, library, clinic, wellness/fitness center,
crafts and a chapel) for over 300 residents.
In 1987, Arcadia became a separate 501(c)(3)
non-profit corporation whose sole member is
Central Union Church, and in 1992, Arcadia
purchased the fee simple interest from Punahou
School. In 1999, Arcadia completed a $10 million
renovation project, and continues to upgrade its
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common areas, the independent living units as they
become available for new occupants, and its
nursing facility. Arcadia recently completed a $7
mil. renovation of its Lower Level, First Floor and
Health Care Center.
Recognizing the responsibility which accompanies
a 501(c)(3) charitable tax exemption, Arcadia’s
family of companies provides valuable services to
Arcadia and the greater community in the following
ways: The Arcadia Foundation (TAF), established in
1998 as a support organization for Arcadia, assists
in helping with the costs of subsidization for
Arcadia and 15 Craigside residents who have
exhausted their resources and provides monies to
assist with the needs of seniors in the community
at large. As The Foundation grows, its ability to
provide greater assistance for seniors in need in
Arcadia’s communities and in the greater
community also grows. The Foundation was key to
opening our CCRC in Nu’uanu at 15 Craigside.
Residents who call Arcadia home.
Established in 2001, Arcadia Elder Services (AES),
another support organization for Arcadia, manages
operations for Central Union’s Adult Day Care and
Day Health Center and for the Adult Day Care and
Day Health program at Kilohana United Methodist
Church in Niu Valley. These centers provide a caring,
safe, nurturing and secure environment for seniors.
AES also provides management oversight for all the
operating companies in the family.
Since 2004, Arcadia Home Health Services (AHHS),
also a support organization for Arcadia, has been
providing a program of services for seniors who need
some help and services in their home, including
personal care, housekeeping, and Arcadia meals.
In 2006, Arcadia, The Arcadia Foundation, Arcadia
Elder Services and 15 Craigside agreed with the
Hawai’i Conference Foundation of the United Church
of Christ to plan, develop, own and operate a
moderate income CCRC on the former site of the
Hawai’i Conference Headquarters in Nu’uanu. 15
Craigside opened in 2011. It is a 13-story tower
which provides 170 independent living units (140
one-bedroom apartments and 30 studios), assisted
living, 4 boarder beds, a 41-bed nursing facility, and a
range of services throughout the building. 15
Craigside includes a spacious lobby and reception
area, kitchen and dining area, library, clinic, wellness
and fitness center with an indoor swimming pool, a
community meeting area, and a solarium with
beautiful stained glass and stunning views.
In 2010, Arcadia Community Services, a 501(c)(3)
organization, was incorporated to support the
missions of Arcadia and 15 Craigside and to
coordinate the efforts of all of the 15 Craigside and
Arcadia programs and companies, including our
home and community based services. In 2013,
Arcadia At Home was incorporated. It is a
“continuing care at home” program in the nature of a
CCRC, similar to 15 Craigside and Arcadia, but
without walls. Marketing of the program to the
Honolulu community began during 2014.
The Arcadia Family of Companies continues to be
guided by a vision that calls each company to provide
optimum effort in support of those whom we serve,
and to provide benefits and service to seniors in the
greater community. The companies diligently
embrace the mandate and responsibility of their
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Arcadia residents practicing hula.
Arcadia Resident Mamoru Oka in the hobby shop.
The 15 Craigside Photography Club.
respective 501(c)(3) charitable tax exemptions.
Monies provided by, earned by, and monies
contributed to, and services provided by, the family
of companies, provide the means by which the
companies, are able to show social accountability as
501(c)(3) charitable tax exempt corporations.
The Arcadia
Family at
Work in 2015
Healthcare
• 15 Craigside and Arcadia were
recognized in the Honolulu Star
Advertiser as two of CMS’ (Centers
for Medicare and Medicaid Services)
“Five Star” (highest rating) nursing
facilities in Hawai’i.
• 15 Craigside and Arcadia applied
for and received approval for all of
15 Craigside’s 41 nursing beds and
all of Arcadia’s 91 licensed nursing
beds, to be Medicare certified.
• Arcadia achieved satisfactory
results for its bi-annual assisted
living survey and for a federal survey
of Arcadia’s Health Care Center.
• Arcadia Home Health Services
(AHHS) obtained Medicare
certification.
• Emmet White continued his
association as a representative of
the Arcadia Family of Companies on
the Public Policy Congress for
LeadingAge, on the Statewide Health
Coordinating Council for the State
Health Planning and Development
Agency, on the O’ahu Workforce
Development Board for the City and
County of Honolulu, and with the
Healthcare Association of Hawai’i.
Above: “Moose” (the dog) visits the Health Care Center at both 15 Craigside
and Arcadia to provide happiness and excitement to residents.
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Participation
 AES expanded and improved
additional space for the Kilohana
Senior Enrichment Center program for
seniors. These improvements
enhance the Adult Day Care and Day
Health program, enabling greater
enrollment numbers.
 Arcadia Home Health Services was
reorganized, providing more efficient
operations and financial stability.
 15 Craigside and Arcadia continued
to achieve a 95% plus occupancy level.
 Arcadia At Home began accepting
members in 2015. This concept is an
inviting alternative for senior living,
care and services in Honolulu.
Kilohana Senior Enrichment Center’s expansion provides clients with a donated
Aquaponics system, a “Senior Citizens Around the World” display, and more
face-to-face interaction with an additional room and round-top tables.
Structure and Finance
 The Boards implemented a new committee
structure with three primary committees: Executive,
Finance, and Quality & Safety. The Structure relies
on more detailed committee work meetings,
thereby reducing the number of full Board meetings
to a quarterly schedule.
 The CEO emphasized the importance of closely
engaging the Boards and Management in intensive
succession planning for the family of companies for
Management and for Governance which will be
taking place over the next several years.
 The Arcadia Foundation received a $1.1 million
gift from the estate of former resident, Winifred
Mann.
 The Family of Companies continues to
emphasize participation in the companies 403(b)
Retirement Plan. In 2015, approximately 83% (463
of 559 active, eligible employees) were participating
in the 403(b) Retirement Plan.
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Sonie Tumacder at the 15 Craigside Benefits Fair.
 Based on 15 Craigside’s current operations and
the financial market conditions, we have been
advised that it would be to our advantage to
consider refinancing the outstanding tax exempt
bonds (now totaling $47 million) to gain a lower
interest cost. We are currently in the process of
negotiating a refinancing of our long term debt for
both 15 Craigside and Arcadia, which we believe
will, in due time, improve the liquidity of The
Arcadia Foundation and the overall financial
strength of the Arcadia Family of Companies.
Lifestyle
• The Arcadia Family of Companies sponsored a
private screening of “Glen Campbell . . . I’ll Be Me” at
the Regal Cinema, Dole Cannery. The film shares
Glen Campbell’s struggle with the onset and insidious
development of Alzheimer’s disease.
• Arcadia initiated a “Blue Zones” program. Blue
Zones is a national movement which emphasizes
longer living and stronger living for seniors. Arcadia
began a monthly “Farmer’s Market” in Arcadia’s
garden, and is incorporating Blue Zones recipes for
Arcadia’s main dining menu.
• Arcadia prepared a 50th anniversary book to
celebrate Arcadia’s birthday in January, 2017.
15 Craigside sushi
assortment (top)
Arcadia vegetable medley
(right)
Pictured left is the cover of the 50th
anniversary book entitled:
Arcadia, 1967-2017:
50 Years of Senior Living Excellence
The author, Ellen Chapman, is an Arcadia
Resident and archivist at the University of
Hawai’i. The book became a reality through
the motivation and commitment of the author
and a dedicated staff.
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The Arcadia Family’s
Social Accountability
to the Hawai’i Community
Since 2006, the Arcadia Family of
Companies, in collaboration with the
Hawai’i Conference Foundation of the
United Church of Christ, has been on a
journey – for the wider community –
wherein the family of companies planned,
developed, and now owns and operates a
moderate income Continuing Care
Retirement Community (CCRC), 15
Craigside, in Nu’uanu.
During the last decade, the Arcadia Family
of Companies, which now includes Arcadia,
The Arcadia Foundation, Arcadia Elder
Services, 15 Craigside, Arcadia At Home, and
Arcadia Home Health Services, has
extended over $21 million in credit to 15
Craigside for the planning, development,
ownership and operation of this new CCRC
for seniors in Honolulu: Arcadia has
provided approximately $6.5 million in
advances, including liquidity support
payments as well as deferring the payment
of a certain amount of operating costs for
15 Craigside; The Arcadia Foundation has
provided approximately $9.5 million in
advances, including liquidity support
payments, as well as deferring payment of
Over $21 million in credit
has been extended to 15
Craigside for the planning,
development, ownership
and operation of this CCRC
for seniors.
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the pre-development and pre-construction costs for 15
Craigside; Arcadia Elder Services has provided
approximately $5 million in development services and
management fees, the collection of which has been
deferred for several years; and, Arcadia Home Health
Services provided approximately $200,000 in services,
Residents and clients enjoy an array of activities like painting, playing the ukulele and the piano, and Ikebana
(Japanese flower arrangement).
the collection of which has also been deferred for several years. Should the cultural, operational, and
financial strength of this moderate income CCRC continue to grow, as the Arcadia Family of Companies
continues to avidly nurture the senior services it develops and enhances, the repayment of these substantial
sums will enable the Arcadia Family of Companies to provide greater and greater benefit for those seniors
whom the companies serve, as well as those other seniors whom the companies will be able to touch and
assist in the wider Honolulu community. Arcadia and The Arcadia Foundation have set aside over $4.4 million
of their cash to assist 15 Craigside in meeting operating obligations, if necessary.
15 Craigside: Then and Now
Lester Obayashi (center) was the architect who designed Hawaii’s 3rd CCRC. Construction lasted nearly 2 years and culminated into
what we know today as 15 Craigside in Nu’uanu.
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Arcadia At Home
Reaching More of Hawai’i’s Seniors
Frequently Asked Questions
Dr. Royal and Aurora Fruehling
“We continue living independently in the home where we raised our family and created a lifetime of
memories. And Arcadia At Home guarantees nursing care at Arcadia if we ever need it. It’s the kind
of security that gives us and our children real peace of mind.”
– Dr. Royal and Aurora Fruehling, Arcadia At Home Members in Manoa
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1. What is Arcadia At Home?
Arcadia At Home is Hawai’i’s newest senior living
option that services from Salt Lake to Hawaii Kai,
Kailua and Kaneohe. Arcadia At Home offers you the
opportunity to stay in your home and receive
services you may require along the continuum of
care, and community-based care for skilled nursing,
long-term care, special care for those who develop
Alzheimer’s disease and dementia, and end-of-life
care.
2. What does Arcadia At Home offer that
other home care and home health agencies
are unable to offer?
Arcadia At Home, as a Hawai’i non-profit corporation,
offers guaranteed lifetime care through a life care
contract with members who qualify and who reside
in the greater Honolulu and Windward O’ahu
communities. The life care contract provides the
security of knowing that care and services are
available when you need it.
3. What is a life care contract?
Arcadia At Home’s life care contract assures that you
will have quality health and medical care if and when
you need it. Skilled nursing rehabilitative services
(i.e., speech therapy, occupational therapy, physical
therapy) or nursing services would be available, as
needed, through a Membership Agreement with
Arcadia At Home.
4. Is there an age requirement to belong to
Arcadia At Home?
Arcadia At Home is intended for individuals 62 years
and older who are able to live and function in an
independent environment in their own home
without harm to oneself or to others.
5. What will your membership (entrance) fee
into the program cost?
The non-refundable entrance fee for membership is:
• For a single person: $60,000
• For a couple: $90,000
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6. What is the minimum amount of assets
you must have after an entrance fee is paid,
and what is the minimum amount of annual
income you should have?
Because you live in your home under this new senior
living program option, the actual amounts for “assets”
and “income” which you need are dependent on a
host of factors.
Initially, after paying a membership entrance fee, your
annual income should meet your ongoing financial
obligations, as well as the Arcadia At Home monthly
fees. Your assets need to support your income needs
for expenses and possible eventualities of greater
costs that will come with assisted living and long-term
care services.
7. What are the initial monthly member fees?
• For a single person: $475
• For a couple: $625
8. What do I receive from paying the monthly
membership charge, even if I do not have any
present health issues?
Members have access to four hours a month in any
combination of health care, homemaker services,
maintenance services, companion services, adult day
care, and wellness training.
9. What optional services are included in the
program?
The following optional services are available
(Additional fees are incurred for these services
delivered under the aforementioned monthly
membership charges):
• Home maintenance • Yard Services • Home Health
Aides • Housekeeping • Companion Services
 Wellness Trainers • Licensed Nursing Care
 Home-delivered meals • Technology Services
• Rehabilitative and Long Term Care •
THE ARCADIA FOUNDATION
2015 Financial Report
Balance Sheet
December 31, 2015
ASSETS
Cash in Bank & on Hand
Investments at Fair Value
Other Receivables
Contribution Receivable - CRT
Loans to Craigside Retirement Residence - Interest Bearing
$
235,712
5,781,039
1,339,750
37,095
9,965,800
TOTAL ASSETS
$ 17,359,396
LIABILITIES
Accounts Payable - Affiliates
Liability Under Trust
$ 1,237,017
1,539,691
TOTAL LIABILITIES
$ 2,776,708
NET ASSETS
Net Assets - Unrestricted
Net Assets - Temporarily Restricted
Current Year Surplus
$ 13,437,062
37,095
1,108,531
TOTAL NET ASSETS
$ 14,582,688
TOTAL LIABILITIES AND NET ASSETS
$ 17,359,396
Summary of the Foundation Report
Balance Sheet at December 31, 2015
At December 31, 2015, The Arcadia Foundation had
total assets of $17,359,396. Approximately
$6,015,751 was invested in cash, mutual funds and
marketable securities, including $2,120,920
restricted for use by 15 Craigside in the event it
needs funds for its operations. The Foundation has
accrued the gift from the Estate of Winifred Mann of
$1.1 million and included it in Other Receivables on
the Balance Sheet. $9,965,800 is included in loans
to 15 Craigside.
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Loans and advances to 15 Craigside include; a note
payable and accrued interest of $6,834,047 resulting
from early advances to develop 15 Craigside of
$6,834,047, and Liquidity Support advances of
$3,077,973 (total of $9,912,020). Liabilities include
the present value of our estimated obligations
under the outstanding charitable gift annuities.
The net assets of The Foundation amount to
$14,582,688, which includes $37,095 of temporarily
restricted funds.
Statement of Revenue and Expenses
For the Year Ended December 31, 2015
REVENUE
Contribution Revenue
Interest Income
Investment Losses
Change in Value of Split Interest Agreements
$ 1,107,237
401,730
(24,961)
(91,505)
TOTAL OPERATING REVENUE
$ 1,392,501
EXPENSES
Professional Fees
Charitable Contributions - Arcadia Retirement Residence
Charitable Contributions - Other
Miscellaneous Expense
$
3,184
264,000
15,600
1,186
TOTAL EXPENSES
$
283,970
NET SURPLUS
$ 1,108,531
Statement of Revenue and Expenses for the Year Ended December 31, 2015
During the year, The Foundation received a bequest of $1.1 million from the Estate of Winifred Mann. Mrs.
Mann was a long time resident of Arcadia (over 30 years) who at age 104 passed away and left Arcadia with a
legacy consisting of her many paintings and the remainder of an estate valued at over $1.1 million.
As part of its mission, The Foundation continued to support Arcadia and 15 Craigside with contributions
totaling $264,000 to help pay operating expenses related to those residents who have exhausted their
resources. $15,000 was contributed to other non-profit organizations with programs benefitting seniors.
A Summary of the
Arcadia Family of Companies
Finances for 2015
2015 consolidated revenue for Arcadia Community
Services (ACS) was $51,743,585.Operating expenses
were $45,253,259. Operating surplus for 2015 was
$6,490,326 . After interest expense of $4,824,572
and interest income and investment gains and
losses, the net surplus for the year was $1,541,504.
This surplus includes the $1.1 million Winifred Mann
gift.
Artwork by Winnie Mann
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Charitable Gift Annuities
The charitable gift annuity is a life income gift that
has been initiated by nearly 40 15 Craigside and
Arcadia residents. In exchange for an outright gift,
The Arcadia Foundation agrees by contract to pay a
fixed amount each year to you and/or another
beneficiary for life.
Individual residents of 15 Craigside and Arcadia
continue to ask us about improving their yield on
savings accounts, certificates of deposits and other
funds with financial institutions that are providing
low yields. At the same time, the volatility of the
stock market makes it imprudent for many seniors to
transfer funds into the stock market.
Interest rates paid by financial institutions are
expected to continue to remain significantly lower
than The Arcadia Foundation’s charitable gift annuity
rates (see The Arcadia Foundation Charitable Gift
Annuity Rates for 2016 on page 19).
Contributing to an Arcadia Foundation charitable
gift annuity provides the beneficiary with a steady
lifetime stream of income at an interest rate that is
presently substantially greater than the current
interest rates paid by financial institutions.
The financial risk is minimal. In addition, the
charitable gift annuity represents a meaningful way
for the donor to create a philanthropic legacy for the
residents of both 15 Craigside and Arcadia who may
need financial support through subsidization, as well
as for community programs for the elderly which the
Foundation supports. The donor is also able to take
a charitable deduction on his or her income tax
return for a portion of the value of the asset
transferred to the Foundation for the gift annuity.
An example is the charitable gift annuity entered into in early 2016 for
$60,000 with an 85-year-old resident. She receives an annuity rate of
8.1% annually, or $4,650 for life. She was also able to have a charitable
contribution for federal income tax purposes of $32,185.
The Charitable Gift Annuity Process
Here’s what’s involved in making a charitable gift annuity with The Arcadia Foundation:
 Meet with Norman Chong, CFO
(Telephone: 983-1820) or Vivian Lai, Controller
(Telephone: 983-1832 or 533-5409) to discuss the
overall concept of charitable gift annuities.
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 If you are interested, be prepared to discuss the
amount of the charitable gift annuity, the
beneficiaries, whether it’s a single life or a two life
annuity, and the frequency of the payout.
“One of the best things about a contribution to The Arcadia Foundation is
knowing that you are helping out your fellow residents now to provide support
and services they might need in the future.” - Marvin Hall, Arcadia Resident
 Based on your wishes, a draft agreement,
computations of the payout, the amount of the
anticipated income tax deduction and other
disclosures will be prepared using a software
package which includes payout rates of the
American Council on Gift Annuities.
 You will be asked to review the draft documents
and to discuss them with your financial and tax
advisors and legal counsel.
 If the draft documents and computations are
acceptable to you, final copies will be prepared for
your signature and The Foundation’s signature.
 You will then be asked to transfer cash or any
asset that can be readily valued and liquidated to
The Arcadia Foundation. A contribution for a gift
annuity is irrevocable. The gift date is the date when
you actually transfer assets. Assets, other than cash,
or readily marketable securities must be approved
by the Board of Directors of The Foundation.
 The Foundation will then make monthly or
quarterly payments to you for the remainder of your
life (assuming you are the beneficiary). Often,
married residents have initiated charitable gift
annuities based on both of their lives.
 The Foundation will provide information on you
income tax deduction related to your gift upon
signing of the contract, as well as information
concerning payments made to you each year
thereafter.
The Arcadia Foundation Charitable Gift Annuity Rates for 2016
One Life:
Age:
Rate:
65
5.3%
70
5.7%
75
6.3%
80
7.1%
85
8.1%
90+
9.5%
To determine the amount of the payments an individual will receive, multiply the rate shown for the
person’s age by the value of the property used to create the annuity. For example, an 80-year-old
establishing a $100,000 gift annuity receives 7.1% or $7,100 annually for life.
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We invite you to consider a gift
to The Arcadia Foundation.
A client with Na Pu’uawai enjoys a field trip to Kaunakakai Wharf and fresh papio for dinner. Na Pu’uwai is a Native Hawaiian health care
organization on Moloka’i and Lana’i for which Arcadia Elder Services provides consulting services.
Since its inception in 1998, The Arcadia Foundation
has successfully nurtured the wonderful gifts it has
been privileged to receive.
The Arcadia Foundation’s great strength is based
on the devoted donors who have shared all or a
portion of their treasure with The Foundation and,
who have believed in The Foundation’s mission of
great caring, as well as its dogged determination to
serve our kupuna in many ways.
The Arcadia Foundation places a great premium
and daily emphasis on its stewardship
responsibilities by cultivating, growing, and wisely
shepherding The Foundation’s assets.
The privilege of growing old is a special gift which
is also accompanied by great responsibility. In this
regard, many wise seniors have searched for an
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entity which embraces and enhances the privilege of
growing old. The Arcadia Foundation and its family
of companies strive to provide and nurture a
fulfilling relationship with those seniors.
As you review this annual report, know that The
Foundation and the Arcadia Family of Companies are
governed by our core values which guide us daily in
our work and in all that we do.
We will:
Be humble, be understanding, be gentle, be just, be
merciful, be honest, be peaceful, be faithful.
These words are the bedrock of The Arcadia
Foundation and its stewardship of the treasure
entrusted to its care and mission and vision.