the good life, redefined

Transcription

THE GOOD LIFE,
REDEFINED
2010 Annual Report
2
2010 ABHOW Annual Report
American Baptist Homes of the West, as an expression of
MISSION STATEMENT
Christian mission, seeks to enhance the independence, wellbeing and security of older people through the provision of
housing, health care and supportive services.
A Message from the Chief Governance Officer. . . . . . . . . . . . . . . . . 2
A Message from the President and CEO. . . . . . . . . . . . . . . . . . . . . . . 3
Cornerstone Affiliates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Continuing Care Retirement Communities . . . . . . . . . . . . . . . . . . . . . 6
Affordable Housing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Seniority, Inc.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
TABLE OF CONTENTS
Social Accountability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12-15
Financial Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Revenue and Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Community Profiles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Board of Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
ABHOW Foundation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Corporate Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
IN THE MIDDLE OF THE LAST CENTURY, AMERICANS DEVELOPED
a notion of the good life for older adults. We called it “the golden years” – a time to let go
of obligations and responsibilities, a season to pass the time in leisure. “To do what you
want or nothing at all” was the advertising line. Appealing as it sounded, and though
widely promoted, this vision of the good life was never fully satisfying. Indeed, in the
early 1970s an ABHOW resident in Phoenix wrote, “Retirement should not be a time of
idleness and apathy. It should be creative … The real secret of contentment in our old age
is not hobbies and leisure but mission.”
Many years would pass before this rich understanding of older adulthood caught on. But
now it is here. The new vision is about creativity. It’s about making sense of our lives and
giving shape to our days: not merely passing the time but being curious about the time.
The difference now is that we ask what this time is for, because the new vision of older
adulthood is about mission. This is the good life, redefined.
1
2
In a year of continuing economic difficulty,
when our direction could have been muddled
by circumstances, ABHOW drew upon
reserves of wisdom and dedication to stay
focused on our mission. We are blessed that
such reserves are abundant in our team
members, residents and volunteer community
leaders. Wisdom and dedication were crucial
in making decisions about our current
operations and in planning for our future.
The Board worked closely with the CEO to
review the company’s assumptions about
growth, given the slow economic recovery.
Our governance around this matter was
enhanced by open conversation and
management’s transparent practices. We
decided that the company’s plans are sound
for the redevelopment of campuses and the
construction of new communities, even as
we acknowledged that project timelines
may be lengthened, depending on capital
financing and our sales success.
A Message from the
Chief Governance Officer
As trustees of ABHOW’s mission, the Board of
Directors holds the CEO accountable to manage
the company in a manner that honors our values.
Integrity, compassion and commitment, along
with stewardship, trust and accountability,
should define all that we do in ABHOW.
These values are our measure of the good life.
The Board is committed to creating vibrant communities
that sustain this good life. Our vision is expressed in what we
call our “ends statement”: “Living in community, a steadily
increasing number of seniors and disabled persons will
experience optimal health, safety and well-being appropriate
to their life stage and circumstances, to an extent that justifies
the expenditure of resources.” This is ABHOW’s overall strategic direction. It is the compass point for all of our governance
and management activities.
In collaboration with senior management,
the Board crafted the core components of
the 2011-2013 ABHOW Strategic Plan. We
reaffirmed our corporate growth guidelines,
which state the following: (1) All growth
should be strategic; (2) All growth should
fit within ABHOW’s capital plan; (3) All
growth should be approached from a
fiscally constrained perspective; (4) All
growth opportunities should be supported
by thorough due diligence; and (5) All growth
opportunities should be prioritized in a
manner that addresses the current needs
of ABHOW and its communities.
These decisions reflect the will of a Board
that is wholly committed to fulfilling and
advancing ABHOW’s mission to “enhance the
independence, well-being and security of
older people.” My colleagues and I consider it
a privilege to be engaged in this work. It is our
contribution toward assisting current and
future residents in redefining the good life.
Randall L. Stamper
Something more is at stake. Even residents
challenged by health issues have a contribution to make. Everyone, regardless of age
or health, has a mission. This is the good
life, redefined.
As a company, we too are redefining the good
life. We are imagining new ways to deepen a
culture of hospitality across ABHOW. We are
asking what purpose our communities serve
beyond housing and health care. What role
do our campuses play in successful aging?
What obligations do our communities have
to the wider community? We grappled with
these questions in 2010, and we also took
concrete steps toward our vision, even
amid continuing economic challenges.
A Message from
the president and ceo
In the days following the devastating Haiti
earthquake of Jan. 12, 2010, residents of
Piedmont Gardens in Oakland, Calif., offered
a form of relief they have provided locally for
many years: they made quilts, pillows and baby
garments for those in need. Their kindness,
which embodied the spirit of residents across
ABHOW, underscored a major shift in how
older adults define the good life.
Retirement is recast today as residents continue to work or
take up new studies. Many volunteer their time in nonprofits
or roll up their sleeves to build new programs for their
neighbors. Their commitment signals a new vision of older
adulthood, yet one that is not merely about being active.
Access to capital is key to our vision. For
that reason, we refinanced our core debt
to create a master trust indenture that
will allow ABHOW to attract more capital.
We hope to secure financing in 2011 for the
next phase of redevelopment at The Terraces
at San Joaquin Gardens in Fresno, Calif.
Under the master trust indenture, we now
have the ability to provide short-term
construction guarantees for affordable
housing. This is critical, as traditional
sources of government financing decline.
In delivering services, creating programs
or building new campuses, ABHOW team
members are not checking off a list made
in another era. We are rethinking the whole
enterprise. Our mission compels us to
recognize new realities in senior living,
brought on by the recession as well as the
aging of America. Our passion to serve moves
us to innovate. Our collective vocation
inspires us to keep working toward the goal
of a fuller life for everyone as we grow older.
This is the good life, redefined.
David B. Ferguson
President and CEO
3
4
COrnerstone affiliates
ABHOW created Cornerstone Affiliates in 2003 to extend the company’s mission.
As ABHOW’s parent organization, Cornerstone provides a structure that facilitates
acquisition, development and affiliation of communities while protecting ABHOW
financially and enabling the company to redefine the good life in new markets.
The newest Cornerstone affiliate, The Terraces at
Harris Ranch, made progress in 2010 toward reshaping
senior living in Boise, Idaho. The Terraces will be
Idaho’s first full-service life care community when
it opens in 2013. Designed by the award-winning AG
Architecture of Wauwatosa, Wis., and developed by
Irving, Texas-based Greystone Communities, The
Terraces’ 12-acre campus will include residential living,
assisted living, skilled nursing and memory support.
The community will feature ABHOW’s new cottage
design approach to skilled nursing, in which resident
rooms surround a central great room and kitchen.
While the economic downturn slowed sales over
the past two years, pre-construction sales activities
continued to generate enthusiasm with future
residents who are eager to enjoy The Terraces’ ideal
location. “It’s an opportunity to be close to the foothills
and yet less than five minutes from downtown,” says
Jeanne Thomas. She and husband Wayne Auer are
among the 400 “Pioneer Members” who have secured
special pricing and benefits as part of the priority club.
Sales and marketing efforts also progressed at
Cornerstone’s Las Ventanas, which opened in 2004
in the heart of Summerlin, a master-planned Las
Vegas community. Developed by Greystone and now
managed by ABHOW, Las Ventanas is Nevada’s only life
care community. The beautiful 17-acre campus offers
spacious apartments, villa homes, gardens and courtyards with breathtaking scenery.
ABHOW launched a new marketing campaign in
2010 to increase awareness of Las Ventanas. The
campaign highlights the campus’ vibrant lifestyle
and spirited residents. Drawing upon the benefits
of ABHOW management for innovative programming
and care services, Las Ventanas is redefining retirement in Nevada.
Wayne Auer and Jeanne Thomas are making plans
for the good life. They are part of the priority club
at The Terraces at Harris Ranch in Boise, Idaho.
Finding her Rhythm
When Debz Zeff moved to Grand Lake Gardens in 2009, the former
dance teacher thought something was missing from the Oakland, Calif.,
community’s exercise classes.
“None of them had music and I wanted to have that beat,” says Zeff
(above, at left), who taught high school folk and modern dance years
ago before raising her own children. She floated the idea of a weekly
dance class, and another resident came up with the name: Happy Feet.
Sharing the joy of dance is one sign of the “transformation” Zeff says
occurred since she and her husband, Jack, arrived. When moving from
Los Angeles, she decided to leave behind both the “stay-at-home” life
she had and her old name, Debbie.
“It came to me that I was moving into a whole new aspect of my life,” she
says. “The first day I was here, they asked me my name and I said Debz.”
5
6
CONTINUING CARE RETIREMENT COMMUNITIES
Providing more choices to seniors to match their lifestyles, engaging residents
in shaping campuses, creating vibrant communities where residents and team
members alike flourish — this is how ABHOW is redefining the good life in its
continuing care retirement communities.
In 2010 ABHOW extended innovative programming
and leading-edge services across the CCRCs. Ten
communities now offer My Choice, a flexible dining
program that gives residents the freedom to choose
when and where they dine. Nine campuses have
embraced Masterpiece Living, a holistic health and
wellness program that draws upon the resources
of the Mayo Clinic and engages residents in setting
lifestyle goals and assessing their progress. Three
communities piloted a risk management selfassessment program in partnership with Caring
Communities, a leading senior living insurer. New
technologies enabled ABHOW to pursue these and
other programs with greater efficiency and quality.
ABHOW re-branded two communities: San Joaquin
Gardens in Fresno, Calif., is now The Terraces at
San Joaquin Gardens; and ABHOW’s first community,
Pilgrim Haven in Los Altos, Calif., changed its name
to The Terraces at Los Altos. Repositioning of the
Fresno community continued with major remodeling
of existing apartment homes, while the Los Altos
campus rolled out its redevelopment plans, which
include the addition of ABHOW’s acclaimed memory
support program, The Grove. Meanwhile, the fifth
Grove opened at Judson Park in Des Moines, Wash.,
and architects designed the sixth Grove at Piedmont
Gardens in Oakland, Calif.
Mission-driven team members advanced all of this
work. Cultivating team members and supporting their
exceptional performance is a priority of ABHOW. In 2010
the company launched Leadership ABHOW, a professional development program that engages CCRC and
affordable housing leaders in yearlong classes and
mentoring. ABHOW selected a leading wellness firm
to help improve the well-being of team members
and control rising health care costs. Finally, the
launch of the company’s intranet, myABHOW.com,
provided team members with company news, career
advancement opportunities, and other resources.
Residents of The Terraces of Los Gatos (left photo)
in Los Gatos, Calif., enjoy the dining flexibility offered
by My Choice, while residents at The Terraces at Los
Altos in Los Altos, Calif., check out plans for their community’s redevelopment.
Relishing His Freedom
rancis Estrella has ridden the rails in every state except Hawaii, where
F
he was born, and Alaska, where he was a salmon fisherman for 30 years.
Since leaving home at the age of 12, Estrella has been a rambling man.
These days, the resident of E.E. Cleveland Manor in Oakland, Calif.,
confines most of his rambling to walking or cycling San Francisco Bay’s
eastern waterfront, where he collects and disposes of washed-up plastic
junk that could be hazardous to sea or bird life.
Estrella takes pride in his Native Hawaiian heritage and feels a kinship
with the natural world. He shares his passion for protecting the coastline
with fellow residents through a multimedia presentation he created using
his own words and photographs.
But he still hears the call of the railroad. “When I see tracks, I see
freedom,” he says.
7
8
affordable housing
Only one in 10 seniors in the U.S. is able to find decent, affordable housing. That sobering reality, complicated by the nation’s economic troubles, compels ABHOW to do all it
can to redefine the good life for older adults with limited incomes. Over the past decade,
ABHOW has steadily grown its affordable housing portfolio to meet this critical need.
In 2010 the company added its 23rd affordable housing
community with the acquisition of Three Rivers Village
in Richland, Wash. Using state and local loans, ABHOW’s
$2 million purchase prevented the community’s
conversion to market-rate housing, which would have
meant the loss of 40 affordable apartments. Also in
Washington, ABHOW opened Shepherd’s Garden,
a 40-apartment community in Lynnwood, and started
construction on the 55-apartment Salishan Gardens
in Tacoma. Through a competitive proposal process,
the Bremerton Housing Authority and the Seattle
Housing Authority selected ABHOW to develop additional senior housing in the state. These projects
are part of ABHOW’s successful partnership with
Seattle-based Beacon Development Group.
ABHOW commenced construction of Valley Vista in
San Ramon, Calif., a 105-apartment community jointly
developed with Satellite Housing of Berkeley. ABHOW’s
Carmel, Calif., community, Pacific Meadows, began
a multimillion-dollar renovation. ABHOW advanced
these efforts and more by drawing upon multiple
sources of funding and carrying out the work through
a lean but dedicated team that leverages its collective
expertise and passion to make a difference in the lives
of older adults.
In 2010 the National Affordable Housing Management
Association (NAHMA) conferred its Communities of
Quality designation on 14 ABHOW-operated California
communities: Oakland’s Allen Temple Arms I, Allen
Temple Arms II, Allen Temple Gardens and Allen Temple
Manor; Bellflower Friendship Manor and Bellflower Oak
Street Manor in Bellflower; Broadmoor Plaza in San
Leandro; Casa de la Vista and Fern Lodge in Redlands;
Judson Terrace Homes and Judson Terrace Lodge in San
Luis Obispo; Manila Terrace in Los Angeles; Mount
Rubidoux Manor in Riverside; and Tahoe Senior Plaza
in South Lake Tahoe. Because of this significant number
of community recognitions, ABHOW also received
NAHMA’s prestigious Communities of Quality
Corporate Partner designation.
(Clockwise, from top left photo) ABHOW started
construction on Valley Vista in San Ramon, Calif.,
opened Shepherd’s Garden in Lynnwood, Wash.,
with a community mural, and broke ground for
Salishan Gardens in Tacoma, Wash.
A
sharing his talent
fter some 40 years in the hotel and restaurant business, Bob
McCormick thought he moved into Harbor View Manor in his native
Tacoma, Wash., to retire.
But soon after arriving in 2008, he heard his former career still calling him. Indeed, it was hollering at him. From his first bite, he knew
the community’s dining operation needed an overhaul.
He helped create a menu that is as healthy as it is tasty. Not only
did his guidance lead to better meals, the cost of running the dining
operation went down even as the turnout for dinner climbed.
During his career, McCormick always kept a close hand in daily
operations. “If you’re going to let someone else do it, you might
as well forget it,” he says. Still, he is surprised that he’s still doing it.
“I thought that was all history,” he says. “It’s really a new challenge
all over again.”
9
10 2010 ABHOW Annual Report
SENIORITY, INC.
Redefining the good life for senior living is the work of Seniority, Inc. As ABHOW’s subsidiary management, sales and consulting firm, Seniority translates ABHOW’s mission
in new markets by helping nonprofit and for-profit owners create communities that
“enhance the independence, well-being and security of older people.”
The firm is guided by Seniority Spirit. This hospitality
and culture formation initiative, specially designed for
senior living and rolled out across the firm’s managed
communities and sales offices in 2010, inspires exceptional service by tapping the joy of exceptional people.
The initiative includes multiple systems and practices,
from rigorous team member selection to in-depth
orientation to the educational and inspirational
Daily Huddle.
Seniority enjoyed continued success across its lines
of business. The firm managed the opening of Cypress
Springs in Oklahoma City, Okla., its second contract
in the state. Seniority will help the owners open a
third community in 2011 in Wichita, Kan. Through
the introduction of new lifestyle programs and systems
to ensure quality care, Seniority achieved 100 percent
occupancy at Cottonwood Court in Fresno, Calif.
Seniority initiated the sales program for a second
Christian Living Communities (CLC) campus –
Clermont Park in Denver, Colo. The 38-year-old
community is constructing 74 new residential
apartments. Seniority continued to help nearby CLC
community Holly Creek enjoy high occupancy, and the
firm took on sales consulting duties for CLC’s Johnson
Center campus in Centennial as well as the corporate
office in Greenwood Village. In addition, Seniority
provided individual and group sales training for team
members at Johnson Center and The Village, also
located in Centennial.
Closer to home, Seniority’s sales force helped ABHOW’s
CCRCs earn $20.4 million in entrance fees, even amid
the continuing challenge of a sluggish real estate
market. Seniority led the rebranding effort of The
Terraces at Los Altos in Los Altos, Calif., and initiated
a sales program for the planned redevelopment of
ABHOW’s first community, securing over 400 priority
members in just three months.
Seniority team members (left photo) get into the Daily
Huddle at Piedmont Gardens in Oakland, Calif. In
Oklahoma City, Okla., Seniority celebrates the grand
opening of Cypress Springs.
creating her community
ois Blakemore started her life at Rosewood Senior Living Community
L
years before she ever moved in. Blakemore fell in love with the
Bakersfield, Calif., community during her 18 years as a team member.
After retiring as director of administrative services in 1996, Blakemore
decided to move into the community six years later. Today, she is one
of Rosewood’s most active leaders. A former president of the resident
council, she currently serves as treasurer. She routinely attends community governance meetings to keep abreast of campus developments.
When Rosewood launched its Masterpiece Living lifestyle initiative,
Blakemore was, once again, front and center. She jumped in as a resident leader, helping to provide training.
“This community has evolved a lot over the years,” she says, “but the
concept is still the same of providing a good life for those of us who
are older.”
11
12
social accountability
Every ABHOW community provides services that are vital to the health and well-being
of residents. But what obligations do ABHOW communities have to their towns and
cities? That question surfaced early in ABHOW’s history as the company envisioned
a comprehensive program of services that went beyond its own communities to effect
changes in the larger society and, thus, a redefinition of the good life for all older adults.
The concept of the retirement community as a hub of
service inspired ABHOW leaders in their long-range
planning in the early 1970s. They imagined a campus
where people would discover many opportunities to
fulfill their needs and desires, a place to live being just
one option. “It would be a center in the community,”
wrote one company leader, “not just an institution
where a few hundred individuals enjoyed the good life.”
That concept naturally grew through the years as
community leaders and residents sought to connect
with the wider community. In 1997 ABHOW formally
adopted a program of social accountability built on the
understanding that the company has a social compact
with the residents, towns and cities it serves. ABHOW
receives a tax-exemption as a nonprofit corporation
in exchange for its charitable services, many of which
the government would otherwise have to supply.
ABHOW honors its social commitment by pursuing
its mission and by making its charitable activities
transparent. Annually, community leaders
document their charitable care and community
service programs, and, in recent years, ABHOW has
sought to measure the dollar value of its charitable
care and community service in order to show
the relationship between benefits the company
provides in exchange for the tax benefits it receives.
ABHOW tracks benevolent care to residents who
have outlived their financial resources; community
health and supportive services; education for health
professionals and team members; subsidized
health services; joint research with universities;
religious and other services for non-residents;
use of ABHOW meeting spaces by nonprofit
groups; and other community-building activities.
ABHOW provided $15.9 million in community
benefits in 2010, while the company’s tax benefits
came to about $3.25 million. When counting just
“pure charity” – which ABHOW defines as direct
contributions to residents and team members
for care and services and direct contributions to
other nonprofits – ABHOW provided $9.1 million.
Those activities considered pure charity are
captured in the following categories:
Contractual allowances: ABHOW participates in the
Medicaid program, which does not fully reimburse
the company for the cost of services provided to
residents. So ABHOW covers the difference. Such
allowances totaled $4.6 million in 2010.
Subsidized allowances: ABHOW supports private
pay residents by offering discounts from full
contractual rates. These discounts include such
items as permanent level of care transfer discounts,
below-market discounts on certain apartments,
SurePay program participation credits, Health
Center free-day credits, and basic medical credits
for doctor and hospital Medicare deductibles.
These allowances totaled $1.6 million in 2010.
(Facing page) Mount Rubidoux Manor residents
(from left) Janet Gilmore, Barbara Yates and
Marilyn Tessier take part in Community Emergency
Response Training in Riverside, Calif. (Above)
Maxine Roberts picks up pamphlets at a health
fair at Broadmoor Plaza in San Leandro, Calif.
Health Fairs Connect
Neighbors with
Valuable Resources
After Maxine Roberts suffered a stroke, she
was fortunate enough to have a niece who
could help with her day-to-day care. Roberts
recovered, but the Broadmoor Plaza resident
started inquiring about the services she might
need one day.
Roberts attended her San Leandro, Calif.,
community’s Senior Health and Resource Fair
in April of 2010 and spoke to most of the 17
organizations present. She and other seniors
learned about free or low-cost aid offered by
such groups as Pathways Hospice, ComForcare,
Lifeline, the Lavender Society and East Bay
Paratransit.
“I don’t think a lot of people realize the services
that are available,” Roberts says. She picked
up the information materials the vendors
distributed. She planned to give some of
it to friends and to keep some for her files.
“I take magnets and put them up on my
refrigerator so I’ll have them when I need
them,” Roberts says.
Susan Ruan, administrator of Broadmoor Plaza,
says health fairs are a way to bring services to
those living in affordable housing communities.
Two of the most requested services are legal
assistance and transportation. ABHOW
affordable housing communities frequently
sponsor such health fairs for residents as
well as seniors in the wider community.
13
14
(continued from previous page)
Benevolent care: ABHOW provides benevolent
support when residents outlive their resources. In
2010 the company distributed $678,303 to the CCRCs.
Free services to residents: ABHOW
makes direct contributions to residents in
the form of free services, such as health
screenings, transportation and food. These
contributions totaled $627,000 in 2010.
Future DocTORS, Nurses
Learn About Aging
Through Partnership
Medical and nursing students are learning how to
care for older adults through unique partnerships
at Piedmont Gardens in Oakland, Calif.
Educational assistance for team members:
Each year ABHOW supports team members
with grants for tuition, fees and books.
Such assistance totaled $41,830 in 2010.
Grants to retirement communities: Through
the ABHOW Foundation, grants are awarded
annually to ABHOW communities to enhance
the quality of resident life. The Foundation
awarded $61,155 in grants in 2010.
Nursing students from Samuel Merritt University
work one-on-one with Piedmont Gardens residents
as part of their nursing studies. The program started
with just two students and has grown to a dozen.
At the same time, students from the University
of California, Berkeley/University of California,
San Francisco Joint Medical Program do physical
exams and take residents’ medical histories.
Volunteer hours: Every year staff and
residents contribute hundreds of hours to
other nonprofit organizations. Volunteer
hours were valued at $1.1 million in 2010.
Piedmont Gardens resident Sid Spies, a retired
internist from Southern California, is preceptor
to the medical students, a role he describes as
part supervisor, part mentor. Students are paired
with resident volunteers for three years, long
enough for them to really get to know them.
In addition to this pure charity, ABHOW provided
other significant benefits to residents. Each year
the company makes adjustments to Medicare
and third-party managed care contracts when
these government and insurance entities do
not fully reimburse ABHOW for the published
price of services provided to residents. In 2010,
Medicare and managed care adjustments totaled
$3.03 million and $2.97 million, respectively.
“This is the last time in their lives they will have
three hours to take a history,” Spies says, adding
that when he was a harried young medical
student he and his classmates didn’t think they
had time to sit with older patients — a persistent
attitude he hopes programs like Piedmont
Gardens’ will help dispel.
“Empathy is such an important part of practicing
medicine. It’s very different from treating a heart
attack,” he says.
Second-year medical student Asa Tapley agrees.
“This program allows students to apply their
learning, to actually practice physical exams
and history taking,” he says. “You don’t practice
medicine in a lecture hall.”
Direct contributions to other nonprofits:
ABHOW communities donate cash, food, goods
and services to other charitable organizations.
These contributions totaled $454,000 in 2010.
All of this charitable activity and community service
is inspired by ABHOW’s mission to “enhance the
independence, well-being and security of older
people.” From ABHOW’s campuses to the wider
community, the mission marks a path of social
accountability, redefining the good life for all.
(Above) Medical student Asa Tapley (left)
chats with resident Flossie Lewis at Piedmont
Gardens in Oakland, Calif., while resident Sid
Spies listens in.
15
Charitable Benefits to Residents
and team members – 2010
Medicaid Adjustments
59%
Direct Benevolence
to Residents
9%
Resident Discounts
20%
Research & Education
Benefits to Residents &
Team Members
3%
Other Charitable Benefits to Residents
& Team Members
9%
COMMUNITY SHARES
BOUNTY WITH NEIGHBORS
Charitable Benefits to the
Broader Community – 2010
Volunteer Service
Green thumbs and good souls are busy at
Grand Lake Gardens in Oakland, Calif. In April
of 2010, the community used a grant from
Rebuilding Together Oakland to establish an
organic garden. Since then, residents have
been harvesting the produce — including
potatoes, string beans, squash, cucumbers
and carrots — and donating the bounty to a
nearby food program for seniors.
60%
Community Health
& Supportive Services
9%
Other Benefits to the
Community at Large
11%
Use of Retirement Community
By Outside Groups 16%
Community Benefit
Operations Activities
1%
Community-Building
& Leadership
3%
Grand Lake Gardens initially planned to give
the produce to the Alameda County Community
Food Bank, says Carole Lee, the resident who
leads the project. The first deliveries went to the
food bank, but then the residents discovered
that one of the food bank’s clients, St. Mary’s
Center, was just three miles away and dedicated
to serving seniors.
Community Benefits
Provided and Received
So, Lee says, they decided to “skip the middleman.”
She and other residents harvest on Wednesday
mornings, and the community’s van driver helps
her deliver the food later the same day.
$16,000,000
Sister Marilyn Medau, St. Mary’s program director,
says in 2009 the center served about 300
homeless seniors and about 600 seniors who
have homes but need resources to help them
age in place. The center also helps young
children and families, but the midday hot meal
served on Thursdays is just for seniors.
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
Community Benefits Pure Charity
Provided
Benefits Provided
2010
2009
2010
2009
2010
$2,000,000
2009
$4,000,000
Tax Benefits
Received
“We use the food they bring in for salads or as
a vegetable medley,” she says of Grand Lake
Gardens’ donations. “I’m very grateful for any
kind of healthy food we can serve to the seniors,
and fresh produce is high on that list.”
16
financial overview
American Baptist Homes of the West and Combined Affiliates
As of September 30
Combined Balance Sheet
Assets
FY 2010
FY 2009
$104,872
$103,666
74,451
46,057
Accounts and notes receivable
7,909
11,242
Prepaid expenses, deposits and other current assets
1,614
3,007
17,889
13,824
Land, buildings and equipment, net
280,582
238,323
Total
$487,317
$416,119
Accounts payable and accrued expenses
$ 25,579
$ 18,772
Deferred revenue from entrance fees
140,063
133,859
Deferred revenue from investment contract
3,627
3,840
Trusts and annuities
3,581
4,106
263,530
220,781
Retirement liabilities
7,125
6,878
Other liabilities
7,433
3,680
36,379
24,203
$487,317
$416,119
(in thousands) Cash and marketable securities
Restricted cash and marketable securities
Other assets
Liabilities and Net Assets
(in thousands) Notes and bonds payable
Net assets
Total
revenue and expenses
American Baptist Homes of the West and Combined Affiliates
For the years ended September 30
ccrc operating results
seniority operating results
(in thousands)
(in thousands)
Operating Revenue
FY 2010 FY 2009
Monthly fees $113,746 $112,133
Ancillary & other services
9,097
8,193
$122,843 $120,326
Operating Expenses
Team member costs
$ 64,261 $ 62,080
Supplies & purchased services
16,251
15,850
Ancillary services
8,439
7,734
Mortgage interest
6,096
5,381
Other operating expenses
23,889
22,981
$118,936 $ 114,026
Division Margin
$ 3,907 $ 6,300
Operating Revenue
FY 2010 FY 2009
ABHOW & affiliates
$ 3,140
$3,386
Third-party revenue
2,005
1,159
$ 5,145
$4,545
Operating Expenses
Team member costs
$2,866
$ 2,537
123
140
2,026
1,688
$ 5,015
$4,365
Division Margin
$ 130
$ 180
Home office operating results
(excluding affordable housing)
affordable housing
operating results
(in thousands)
(in thousands)
Operating Revenue
FY 2010 FY 2009
Management fees & other revenue
$ 2,522 $ 2,022
CA CCRC management fees
8,821
8,789
$11,343 $ 10,811
Operating Expenses
Team member costs
$ 7,935
$ 8,075
1,380
1,636
Mortgage interest
517
89
2,546
2,806
$12,378 $12,606
Division Margin
($1,035) ($ 1,795)
Operating Revenue
FY 2010 FY 2009
Monthly community revenue
$4,935
$ 3,917
Management & development fees
1,657
1,320
$6,592
$5,237
Operating Expenses
Team member costs
$ 2,743
$2,282
1,404
1,038
Mortgage interest
881
688
1,670
1,096
$6,698
$5,104
Division Margin
($ 106)
$ 133
CCRC Operating Revenue &
Reoccupancy Fees by Year
(in thousands)
Net reoccupancy fees
Operating revenues exclusive of
entry fee amortization, all CCRCs
150
120
90
$120,219
$23,004
$97,215
$125,355
$21,718
$103,637
$130,427
$131,797
$20,739
$17,730
$109,688
$114,067
$137,814
$17,488
$120,326
$143,261
$20,418
$122,843
60
30
0
2005
2006
2007
2008
2009
2010
17
18
community profiles
Continuing Care
Residents
Grand Lake Gardens, Oakland, CA
J udson Park, Des Moines, WA
Piedmont Gardens, Oakland, CA
Plymouth Village, Redlands, CA
Rosewood, Bakersfield, CA
The Terraces at Los Altos, Los Altos, CA
The Terraces at San Joaquin Gardens,
Fresno, CA
The Terraces of Los Gatos, Los Gatos, CA
Valle Verde, Santa Barbara, CA
Total
Team
Members*
90
327
285
264
220
142
27
190
176
149
151
100
315
302
373
2,318
211
160
192
1,356
Owned Affordable Housing
Residents
Team
Members*
Broadmoor Plaza, San Leandro, CA
75
Casa de la Vista, Redlands, CA
76
Fern Lodge, Redlands, CA
62
Harbor View Manor, Tacoma, WA
171
Hillcrest Gardens, Daly City, CA
52
Judson Terrace Lodge, San Luis Obispo, CA 32
Kelly Ridge, South Lake Tahoe, CA
33
Oak Knolls Haven, Santa Maria, CA
40
Pacific Meadows, Carmel, CA
178
Shepherd’s Garden, Lynnwood, WA
51
Tahoe Senior Plaza, South Lake Tahoe, CA
45
Three Rivers Village, Richland, WA
40
Total
855
3
4
3
9
2
1
1
2
9
2
2
2
40
Managed Affordable Housing Residents
Team
Members*
Allen Temple Arms I, Oakland, CA
78
Allen Temple Arms II, Oakland, CA
50
Allen Temple Gardens III, Oakland, CA
54
Allen Temple Manor IV, Oakland, CA
24
Bellflower Friendship Manor,
Bellflower, CA
168
Bellflower Oak Street Manor,
Bellflower, CA
32
Casa de Redwood, Redwood City, CA
159
E.E. Cleveland Manor, Oakland, CA
51
Judson Terrace Homes, San Luis Obispo, CA 110
Manila Terrace, Los Angeles, CA
98
Mount Rubidoux Manor, Riverside, CA
187
Total
1,011
6
1
2
2
12
1
5
3
11
2
13
58
* Team member numbers expressed as full-time equivalents (FTE).
Management Contracts Residents
Las Ventanas, Las Vegas, NV
The Terraces, Phoenix, AZ
Subtotal (ABHOW)
Team
Members*
255
344
599
164
196
360
Cottonwood Court, Fresno, CA (Seniority) 132
Courtside Cottages, Vacaville, CA (Seniority) 65
Cypress Springs, Tulsa, OK (Seniority)
53
Nikkei Senior Gardens, Arleta, CA (Seniority) 86
Sun Grove Resort Village, Peoria, AZ
(Seniority)
81
Subtotal (Seniority)
417
Total
1,016
90
69
45
51
Totals Residents
Continuing Care
Affordable Housing
(including Home Office)
ABHOW Home Office and Foundation
Contract CCRCs (ABHOW)
Seniority, Inc.
Total
21
276
636
Team
Members*
2,318
1,356
1,866
0
599
417
5,200
107
58
360
276
2,157
Number of Community Housing Apartments/Suites
Residential Living
Assisted Living
Health Center
Memory Support
Affordable Housing
Total
1,864
515
722
301
1,721
5,123
New Community Development Apartments/Suites
Salishan Gardens, Tacoma, WA (Affordable Housing)
The Terraces at Harris Ranch, Boise, ID (Cornerstone)
Valley Vista, San Ramon, CA (Affordable Housing)
Total
55
256
105
416
board of directors
Mr. Randall L. Stamper
Mr. Bruce Laycook
Vice Chairman
Mr. Leon L. Gean
Secretary
Dr. Samuel S. Chetti
Mr. Stephen A. Elliott
Mr. Hector M. Gonzalez
Mr. Douglas W. Holmes
Rev. Lloyd E. Howard
Ms. James Ella James
Mr. Donald N. Jones
Mrs. Gloria P. Marshall
Ms. Julie B. Michaels
Dr. Joel P. Martin
Dr. Marcia J. Patton
Ms. Phyllis J. Stuewig
19
20 2010 ABHOW Annual Report
ABHOW FOUNDATION
When residents give to the ABHOW Foundation, they do so not for personal gain but
with a genuine desire to help their neighbors. They know that generosity has its own
rewards. “It’s my philosophy of the good life,” says Lou Binick, Foundation board member
and resident of The Terraces of Phoenix. “When you help others, you’re helping yourself.”
In a year of continuing economic difficulty, residents
redefined the good life by organizing fundraising
campaigns in their communities and pledging their
gifts. Because of this generosity, the Foundation is
able to support CCRC residents who outlive their own
resources. In 2010 the Foundation distributed $1.1
million to the CCRCs for benevolent care. Residents,
team members, partners and friends answered
the call again to improve the quality of resident life
in the affordable housing communities. The 13th
Annual ABHOW Foundation Golf Classic netted
over $100,000 to support these communities.
The Foundation honored residents’ generosity
by unveiling donor recognition walls at Judson
Park, Rosewood and Valle Verde. In addition,
the Foundation reinstituted the Heritage
Honor Society with an event at each CCRC.
Board Members: Frank Jennings, Board Chair;
David B. Ferguson, CEO/Ex Officio; Enitan
Adesanya, Stephen M. Annis, Louis Binick,
Chris Pereira, Jane Wilson and Linda Zale
Staff: Joe Anderson, President; Leonard Kelly,
Vice President; Suzette Luer, Development Coordinator
FOUNDATION FINANCIAL STATEMENT
As of and for the years ended September 30
Balance Sheet (in thousands)
Assets
Cash and marketable securities
Other assets
Total assets
FY 2010
$40,812
(384)
$40,428
FY 2009
$39,623
(458)
$39,165
Accounts payable and other liabilities
Due to trust beneficiaries
Total liabilities
Total net assets
Total liabilities and net assets
$
136
3,581
3,717
36,711
$40,428
$ 128
4,106
4,234
34,931
$39,165
Statement of Operations and Changes in Net Assets (in thousands) FY 2010
FY 2009
Contributions and bequests
$ 780
$ 1,280
Investment income & realized losses on investment 1,956
(2,683)
Total 2,736
(1,403)
Distribution to beneficiaries
Contractual payments to beneficiaries
Administrative and general
Total
Change in unrealized gains and losses
on marketable securities
Change in net assets
Net assets beginning of year
Net assets end of year
$40.7
$44.8
$36.7
$34.9
$36.7
2006
2007
2008
2009
2010
50
40
Liabilities and Net Assets
Foundation Net Assets
(in millions)
1,240
538
433
2,211
1,295
1,063
707
3,065
1,255
1,780
34,931
$36,711
2,743
(1,725)
36,656
$34,931
30
20
10
0
Corporate Information
Management Team
Associations
David B. Ferguson
President and Chief Executive Officer
ABHOW is a founding member of the American
Association of Homes and Services for the Aging
and aging services associations in California,
Arizona and Washington. Seniority, Inc. is a member of the American Seniors Housing Association
and the Assisted Living Federation of America.
Pamela S. Claassen
Senior Vice President, Finance
Chief Financial Officer
Jeff Glaze
Senior Vice President, Chief Operations Manager,
Continuing Care Retirement Communities
Joseph E. Anderson
President, ABHOW Foundation
M. Sloan Bentley
Senior Vice President, Sales and Marketing;
President, Seniority, Inc.
Terese Farkas
Senior Vice President, Human Resources
David A. Grant
Senior Vice President and General Counsel
Kay Kallander
Senior Vice President, Strategic Planning
Ancel Romero
Senior Vice President, Affordable Housing
Accreditation and
Special Designation
All nine of ABHOW’s continuing care retirement
communities and one managed community are
accredited by the Commission on Accreditation
of Rehabilitation Facilities-Continuing Care
Accreditation Commission. Fifteen of ABHOW’s
affordable housing communities have earned
the Communities of Quality designation from
the National Affordable Housing Management
Association, which has also named ABHOW a
Communities of Quality Corporate Partner.
2010 Awards
Hiram J. Friedsam Mentorship Award, given annually by the University of North Texas’ Coalition for
Leadership in Aging Services: Alex Candalla, Executive
Director, The Terraces of Los Gatos, Los Gatos, Calif.
Aging Services of California Social
Responsibility Award: David A. Grant, Senior
Vice President and General Counsel
Aging Services of California Community Service
Award: The Terraces at San Joaquin Gardens, Fresno, Calif.
Aging Services of California Volunteer Service Award:
Marian Chuan, resident of Valle Verde, Santa Barbara, Calif.
International Council on Active Aging
Green Award: Valle Verde
California Department of Resources,
Recycling and Recovery (CalRecycle) Waste
Reduction Award Program: Valle Verde
Charles L. Edson Tax Credit Excellence Awards,
Honorable Mention: Kelly Ridge, South Lake Tahoe, Calif.
Tahoe Regional Planning Agency Best in the Basin
Award: Kelly Ridge
President Emeritus
Dr. Richard E. Ice
Auditors
Moss Adams LLP, San Francisco
21
American Baptist Homes of the West
American Baptist Homes
Foundation of the West
Cornerstone Affiliates
Seniority, Inc.
6120 Stoneridge Mall Road, Suite 300
Pleasanton, CA 94588
800.222.2469
www.abhow.com

the good life, redefined

Transcription

Similar documents

11.2 - Hosanna Community

Order Form - Jack L. Marcus Company Institutional Sales Catalog

July 2012 City Connection Newsletter

Solivita Brochure

Fall 2012 - HACOLA.org

in search of architecture

Deerlake brochure - Deerlake Village

(SCE) and the Battle of the Bands

The Meadows of Ottawa-news