Foundation Corner

Mission & Vision Excellent News

Higher Rates Continue on Gift AnnuitiesOn May 30th, the Amercian Council on Gift Annuities (ACGA)reconfirmed the current recommended payout rates for charitable gift annuities. Rates on new contracts were increased on July 1, 2018. The ACGA regularly reviews the financial and actuarial assumptions behind its recommended rates to ensure they are fiscally sound. Generally, these payout rates are designed to produce a target gift for charity at termination equal to 50% of the funds originally donated.

Charitable Gift Annuities have been a popular program at Casa and are a great way to become a Legacy member while benefiting personally from the gift. A minimum contribution of $15,000 in cash or appreciated securities to our trust fund is all that is required to

participate. In exchange, we will pay you a fixed amount of income based on your age at the time of the gift. This payment will never change and is unaffected by stock market ups and downs or changes in interest rates. Some of the other benefits

that participants enjoy include:

• Substantial charitable income tax deduction

• Partially tax-free income through your projected life expectancy

Here is an example: Donor Max, age 85,

donates $30,000 cash to the trust fund. He receives $2,550 in annual income (8.5%), of which $2,000 is tax-free for 7 years, AND a charitable income tax deduction of $22,000.

Call Cynthia Steiger in the Foundation office at 858-592-1898 for an illustration of your benefits.

The Casa Foundation is a non-profit corporation, sanctioned by the State of California, committed to developing, accepting, overseeing, administering and disbursing philanthropic resources for the benefit of the Casa de las Campanas Continuing Care Community and its residents.

The Casa Foundation strives to encourage the ethical and professional growth of philanthropy for the purpose of enhancing the lives of Casa residents and continuing a legacy of service excellence in the Casa de las Campanas community.

Foundation CornerJuly 2019

Dedicated to the enhancement of life at the Casa de las Campanas Retirement Community

The Casa Foundation is a public nonprofit 501(c)(3).

Your gifts to the Casa Foundation qualify for income and estate tax deductions.

Consult your tax advisor for appropriate procedures on the tax deductibility of your gifts.

May you live every day of your life. - Jonathan Swift

On Tuesday, July 2, 2019, Casa Residents for Education awarded scholarships of up to $3,500 to 33 Casa employees furthering their education and career goals.

This years recipients included Daniel Alaniz, Idalia Alatorre, Alexandra Nicole Alegando, Philipp Anyayahan, Eva Arni Bajado, Patricia Chang, Eloisa Davis, Jessie Diaz, Ryan Dipiero, Keilani Fale, Sarah Gladow, Isabel Gonzales, Pierra Hall, Brenda Hernandez, Leonida Hernandez, Julia Herrera, Rocio Jerbasi, Claramy Luna, Marla Maag, Ramon Madera, Cristina McElfresh, Jocelyn Moore, Angelica Olivo, Cecilia Perez, James Ringhoff, Maria Rivera, Cesar Rocha, Michelle Sanchez, Sheilah Dolores Sanchez, Frank Solis, Katelynn Tran, Jamie Williams, and Jennifer Yoon.

We are proud to announce that 52% of Casa residents contributed to this year’s campaign, which raised a total of $57,866. The Scholarship program was initiated in 1989 and is a philanthropic tradition in the Casa de las Campanas community. In those 30+ years, over 600 scholarships have been awarded to deserving employees.

Distributions from 15 scholarship endowments will add over $14,000 to this total in August. If you are interested in establishing a scholarship endowment, contact Cynthia Steiger in the Foundation office at 858-592-1898 for details.

Our thanks to the CRE Scholarship Committee, which includes Lorelee Mogg & Sonny Googins (Co-Chairs), Shel Diamond, Harry Packard, Rita Petrella, Carol Rhoades, and Vickie Turnage.

Celebrating 31 years

Scholarship Awards Benefit 33 Casa Employees

Meet

Legacy Member Benita Page

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Benita Page is someone you can always count on. She is an amazing volunteer with the kind of attitude that brings people together for all the right reasons. She currently serves as a member of the Executive Council and is the Treasurer for Casa Residents for Education (CRE). In 2014, she chaired the Employee Appreciation Fund drive.

In the larger community, Benita has been involved in Rotary International since 1989, when women were first admitted as members. She served as President of the RB Rotary Club and was on the Board of the RB Rotary Club’s Foundation for 10 years, serving as President for 4 years. This month, she will again join the RB Rotary Board. Benita is also a board member of the RB Community Foundation and a member of the AAUW (RB branch). For 10 years (4 as President), Benita served as a board member of SAY San Diego, a San Diego based social services agency with an annual budget of over $800,000.

As a retired Senior Vice President of Marsh & McLennan, the world’s largest insurance broker and risk management firm, Benita’s business experience has been an asset to the organizations she serves.

In addition to volunteering, Benita also enjoys reading, theatre, her great grandchildren and travel. When her family was growing up, they camped and traveled through 38 states.

Benita became a Legacy Society member earlier this year with an appreciated stock gift that she designated to the Board-established Resident Hardship Endowment. The Resident Hardship Program supports residents who have outlived or exhausted financial resources, and our goal is to cover 100% of the cost.

Appreciated stock is an excellent asset to gift to charity, as the charity benefits from the full amount of the gift, and you have the opportunity to save income as well as capital gains taxes. For information on how you can make a gift using appreciated property, contact Cynthia Steiger in the Foundation office.

Estate Planning Facts

If I Have a Living Trust, Why do I Need a Will?

Question: What is the Foundation Advisory Committee and what purpose do they serve?

The Foundation Advisory Committee is a committee of 15 to 28 residents who provide input and recommendations to the Foundation Board of Directors on funding needs, policy, programs, resident concerns, etc. They are an invaluable support structure and work directly with Cynthia Steiger, our Fund Development Advisor, to advance the Foundation’s mission. This committee operates on a functional level by disseminating information about the Foundation

to residents through printed material, educational programs and donor recognition events. Two members of the Foundation Advisory Committee also sit as voting members on the Foundation Board, as required by the Foundation’s ByLaws. Currently, those 2 members are Ethel Neichin and Ken Waters.

Jeannine McCullagh is the current chair of the committee, which is broken into 3 sub-committees. Garry Butterfield chairs the Education sub-committee; Marguerite Lawry chairs the Donor Relations sub-committee; and Ken Waters chairs the Funding Review sub-committee. Other members include Dan Beringhause, Doris Hargrove, Barbara Kahn, Dot Koerner, Joan Levinson, Neal Macurda, Jo McBrayer, Ethel Neichin, Harry Packard, Carol Rhoades, and Dottie Risheberger.

Understanding the Foundation

Did You Know

Occasionally I am asked, “Why is a will necessary if I have a living trust in place?” Wills are useful for a number of reasons, even if you have a trust.

The typical will that is done as one of the estate planning documents when putting together your estate plan with a living trust, is called a “pour-over will.” This is helpful if you forget to put assets into your trust, as there are directions in the pour-over will that will direct those assets to be “poured” into your trust.

Wills can also accomplish a few things that living trusts cannot. For example, you can use a will to forgive outstanding debts or to name guardians for minor children. These are things that cannot be accomplished using your living trust.

Also, certain types of assets pass by beneficiary designation and are not governed by your living trust. This would include things like life insurance, retirement plans and annuity contracts. Make sure that all of your assets requiring a beneficiary designation are up to date and coordinated with the rest of your estate plan. It is not uncommon for someone to assume these assets are governed by their living trust and end up with a mess. We recommend a thorough review of your existing plan every 3 to 5 years, or whenever there have been major changes in family structure or a change in tax laws.

If you have yet to put an estate plan in place, don’t hesitate to contact Cynthia Steiger in the Foundation office at 858-592-1898 for referrals to local estate planning attorneys who can assist you with the task.

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Not shown: Dot Koerner, Marguerite Lawry, and Jo McBrayer

• Activities Fund• Art Fund• Chaplain Fund• Health Center Fund• Landscaping Fund• Music Fund• O’Brien Educ. Fund

• Resident Association Fund• Resident Hardship Fund• Rosenmeier Health Fund • Scholarship Fund• Betts Sur Library Fund• Betts Sur Rose & Garden Fund• Transportation Fund

• Tilburg General Endow• Barkell Transportation Endow• Carpenter Activities Endow• Hegewald Health Endow• King General Endowment• Elizabeth Thiele/Margaret Gamble Music Endowment• Levinson Norte Library Endow• Maclean General Endowment• Nauman General Endowment • Newman Care Endowment• Special Care Endowment• Resident Hardship Endow

Scholarship Endowments• Carl & Doris Burk • Noble & Jenny Chen• Forest & Gloria Fouts• Mack & Janet Gilkeson• Alice Greene• Hunt Family• Selma Johnson• Irv Kelley• Jeannine McCullagh• James Nauman• Freda Palmer• Carol & Bob Shogren• Fun-Den & Agnes Wang• Jung-Chien & Edith Yu

Making a Difference

Your Generosity at Work

Remembering Legacy FriendsThe following Legacy member was an amazing friend to the Casa Foundation during her time with us as a resident. We will miss her kind guidance and stewardship.

Barbara Oyler: 09/15/1922 - 06/15/2019

Current Funds

Endowment Funds

As we near the end of Fiscal 2019, we are pleased to report that the Foundation has been able to release $259,836 in gift funds to support programs and services that benefit Casa residents. As a reminder, $200,000 in funding is equal to about 1% in service fees so be proud of the fact that your gifts are lowering costs for all residents. Since inception, we have provided $7,234,708 in gift funds for the benefit of the Casa de las Campanas community.

Join us on Friday, August 23rd at 10:30 am in the Dinner Theater for a presentation by Certified Financial Planner, Mary Van Nostrand, entitled “Tax Efficient

Investing through the Generations.” Mary Van Nostrand is a fee-only financial advisor at Duttenhofer Advisory Group located in San Diego, California, and a member of the National Association of Personal Financial Advisors.

Considering the high capital gains tax rates for California residents and recent changes to federal tax law, we encourage you to attend this informative presentation.

Save the Date

Tax Efficient Investing

• Resident Hardship $90,016 • Scholarship $75,000• Transportation $35,000 • RA Resale Proceeds $16,136

• RA Committees $12,705 • Meditation Rm Furn. $5,573

• Sur Library Refresh $5,000 • Music $4,594

• Spec. Care Residence $12,378 • Health Center $1,435

• Activities $1,001 • Bell Tower Park $998

Call today for information on how you can make a difference!

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Legacy Society MembersLegacy Society membership is extended to those individuals who have made cumulative, deferred or outright gifts of $15,000 or more to the Casa Foundation. For information, contact Cynthia Steiger in the Foundation office at (858) 592-1898.

Living Memberships

Deceased Legacy Members (not listed above, since 8/1/13)Pauline Anderson, Cliff & Ethel Barkell, Geraldine Barrington, Kurt Bohnsack, Virgil Calhoon, Barbara Chase, Fran Cleeton, Norm Crocker, Lyn Dougherty, Bob Dunlap, Robert Dye, Morey Feldman, Don & Chris Findley, Gloria Fouts, Erika Fry, Mary Jo Fulkerson, Eleanor Gafney, Blossom Gasper, Dottie Gifford, Eugenia Glow, Dr. Barry Gordon, Ralph Grahl, Evelyn Gregoire, Pat Harper, James & Sourya Henderson, Pauline Hoover, Joe & Lyn Howland, Jean Hunt, Dr. John Ingle, Catherine James, Selma Johnson, Donna Jones, Janine Kammert, Irving Kelley, Betty Kollisch, Bob Kroger, Jack & Sesuko Kuramoto, Dorothy Leslie, Darrell Lundberg, Wini McCluskey, Elaine McDaniel, Bob & Alice McKahan, Jean Miller, James Nauman, Laverne Oemcke, Barbara Oyler, Whitney Pearson, Betsy Peterson, Donna Peterson, Colleen Phelan, Betty Pitt, Vern & Jane Remer, Pauline Rogers, Mary Rountree, Ruth Sandburg, Noreen Sandel, George & Margaret Scharnberg, Barbara Siniscalchi, Bill & Claire Spaulding, Mable Sullivan, Phyllis Tabak, Klaas Terpstra, Hilda Teutsch, Evan Vande Walle, Eleanor Wetherill, De Winston, Janet Woodworth, Jung-Chien & Edith Yu.

AnonymousAllyn & Carol AxeltonVince & Nancy BaconAnn Bernstein Jeanne BleahuFrank & Dolores BugielGarry & Mary* ButterfieldSue CagniPeggy CasserlyMargaret CauthenNoble ChenPaul DenniesJim & Virginia EstesJules & Perla FoxSherl*/Joan FreudenbergerCliff *& Ann FreySyvilla FryMack & Janet* GilkesonNorm & Pat GillespieBob & Sonny GooginsDon & Charlotte GraggFred & Jody GraweyAlice GreeneNancy Grobe

Mary GrosskopfLyle GuellJulie GuinanePeggy HansenJerry* / Virginia HargartenDoris HargroveDavid* & Ellie HarperDaniel HassettPat HeathLuella Bell HillWalter & Janette HirschCarol HobockRuth HohbergGeorgia HooverCharles* & Laura IlkaPriscilla Sue JohnsonBarbara KahnMargaret KelloggChin & Bok Lim KimDorothy KoernerMarguerite LawrySam* & Joan LevinsonLife Care ServicesRichard* & Ann Ryan-Logan

Neal & Betty MacurdaEd* & Elizabeth MalelaMarilyn MaloneyJo anne McBrayerJeannine McCullaghFred McKnightSuzanne Moran in memory of Peg Logan*Stanley* & Ethel NeichinJack & Ruth Nesselroad in honor of Orlene Ashcraft*Barbara NorrbohmHarry PackardBenita PageWilliam & Bette PeaseMary Elizabeth PinkhamArt & Jean* PoundsJane PrichardPolly Ann Redifer in memory of Chuck Redifer*Resident AssociationCarol RhoadesDorothy RishebergerGerald* & Barbara Rugger

Art & Patricia SchauffertPat SchmittJulius & Virginia SchwartzBob* & Carol ShogrenWilliam & Patricia Smith Gordon & Eve SpencerRob Stalker & Sheri FisherSandra SuycottBarbara TiceSteve* & Nora TungBetty VelardeFun-Den & Agnes WangKen & Ellen WatersAl* & Virginia WeheBob* & Jeannetta WellsMargaret WestJanet WilliamsIvon* & Patricia WilsonErnest & Janet* WinklerGeorge Wynhoff* & Patricia Martin-Wynhoff

* Deceased

• Jeannine McCullagh, Chair• Cynthia Steiger, Vice Chair

Donor Relations• Marguerite Lawry, Chair• Dan Beringhause• Barbara Kahn• Dot Koerner• Harry Packard• Carol Rhoades

Education• Garry Butterfield, Chair• Joan Levinson• Neal Macurda• Fun-Den Wang

Funding Review• Ken Waters, Chair• Doris Hargrove• Jo anne McBrayer• Ethel Neichin• Dottie Risheberger

Foundation Advisory Committee

“If we all did things we are capable of doing, we would literally astound ourselves” - Thomas Edison

Words to Live By

Foundation Officers and Directors

• Steven DeMatteo, Chair• Mike Stelman, Vice Chair• Ethel Neichin, Secretary• David Johnson, CFO• Jim Roth• Ken Waters

Foundation OfficeCynthia Steiger

Fund Development Advisor858-592-1898

E-mail: steiger@casadlc.com

Celebration of Life Memorial WallThe Casa Foundation Celebration of Life memorial wall remembers Casa de las Campanas residents who touched our lives and played a vital role in our community.This beautiful tribute is located in the lovely and tranquil setting of the Bell Tower

Park, which is frequented by residents as well as visitors. It incorporates dedications to those remembered and features four back-painted, shaped glass panels simulating soft waves as background for engraved 3” x 6”glass tiles. Each tile includes the name of the person remembered, the dates of birth and death and up to two lines of copy for a special message. The cost is $500 per tile. If you want to remember a loved one, special friend, or reserve a tile, contact the Foundation office at (858) 592-1898.

Testamentary Gifts of Retirement Plan AssetsIf you are planning on benefiting charity with a bequest in your estate plan, consider using retirement plan assets. All qualified retirement plans, including 401(k)s and 403(b)s, can be used to make charitable gifts upon the owner’s death, not just traditional IRAs.

Typically, the assets in a retirement plan have never been taxed until they are distributed. Consequently, these distributions are subject to income tax at the beneficiary’s income tax rate, which can be as high as 50% if the beneficiary lives in California. Since qualified charities are not subject to income tax, using retirement plan assets for charity will avoid all income taxes.

For those who want to support charity and provide income to children or other loved ones, making a testamentary gift of retirement plan assets to a charitable remainder trust may be the way to go. In this scenario, the income tax is applied only as the income is distributed to the income beneficiaries of the trust. Upon the termination of the trust, remaining assets will be distributed to the charity or charities you have named.

If the estate is large enough to owe federal estate tax, there is another benefit, as the charitable remainder trust is eligible for an estate tax deduction equal to the charitable remainder value of the trust.

You can also fund a charitable gift annuity with retirement plan assets upon your death, which will require less administration than a charitable remainder trust. This might be more appropriate if the amount in the retirement plan is relatively modest.

Rules regarding IRAs are expected to change as a result of the SECURE Act, up for consent in the Senate, so planning strategies will become even more important if retirement plan assets comprise a large part of the estate. Watch for more information as things unfold.

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