“Things happen — and we may have greater needs than any of us anticipated,” said Hilda Pressman, a Circle of Friends committee member. “It’s a great comfort to know the Circle of Friends is there.”

The resident assistance funds provided through the Front Porch Communities Foundation provide peace of mind to neighbors and friends in need. As one resident said, “Any of us could outlive our resources, so I want to be a part of being there for one another.” In Northern California, the assistance program for life plan residents is called the Circle of Friends fund and the average age of recipients is 92, with many living at a higher level of care.

“Throughout our communities, the spirit of caring for one another is apparent in the many gifts we receive for the assistance funds,” said Foundation Executive Director Katharine Miller. “It is a reflection of the close friendships people form in our communities and the care that residents have for one another.”

*This story was originally shared in the Community Matters newsletter

The post Circle of Friends: Caring for Each Other appeared first on Front Porch.

“It means a lot to be able to see all the hands and hearts that have been working to make this vision a reality,” said Executive Director Christina Spence as she introduced the project team, a collaborative effort including residents, staff, and specialists.

San Francisco Towers resident Richard “Dick” Wilmington reflected on “nearly a decade” working towards a memory care neighborhood. “The long history reflects the struggle with both state and local regulations, and with the restrictive realities of dealing with the conversion of a fully utilized existing space,” he explained. Wilmington’s spouse, Bob, struggled with aphasia and memory loss and ultimately spent his final year at a different community with a dedicated program for those with cognitive impairments that helped his spouse “avoid those three terrible ‘A’s’ often suffered by those with these conditions: anxiety, agitation, and anger.”

San Francisco Towers Memory Care Unit will be located on the second level of the building in the East Tower Mezzanine. With 10 single units and two double units, the neighborhood will include a common area with dining, sun room, study, and tub/spa center. Construction is expected to be completed by spring of 2022 and the neighborhood will be open after review and approval by California’s Office of Statewide Health Planning and Development (OSHPD). OSHPD has already approved the plans for this neighborhood as well as the memory care neighborhood at other Covia communities.

“I think back to our very first memory care neighborhood at Los Gatos Meadows,” said Katharine Miller, Executive Director of the Covia Foundation. “It is called Maggie’s Place because a long term resident at Los Gatos really, really cared about the fact that she had neighbors and friends that needed a memory care neighborhood. When Maggie King passed away, she left her entire estate to the Foundation to build out our very first memory care neighborhood. I wanted to say thank you to all the people that have cared about their loved ones, their neighbors and their friends to make our memory care neighborhoods happen.”

“It’s been a long time to get here,” said Christina Spence, “so we wanted to take a moment and celebrate the good, celebrate that we’re here in this moment. This project would never be moving forward if it weren’t for all the support that we’ve received from our partners.”

As the Reverend Wilmington concluded, “So here we are. Now we have begun…we can make this a peaceful and comfortable community in honor of those lost personalities we loved.”

If you would like to learn more about San Francisco Towers please call 415.447.5527 or use the contact us form here.

The post San Francisco Towers begins construction on Memory Care neighborhood appeared first on Front Porch.

Carol had friends who had set up charitable gift annuities, and they were very pleased with both the income and the impact of the tax deduction. She says, “With the current rates, I thought this would be a good source of income and an opportunity to support the Circle of Friends Resident Assistance Fund.”

Carol had always felt the call to help those in need, especially older people who could no longer support themselves. She remembers, “When my mother was in an Assisted Living community near the end of her life, I remember other residents that had to leave because they had run out of money. I remember feeling so terrible about it and wishing there was something I could do to help. Donating to the Circle of Friends gives me a chance to help.”

Charitable Gift Annuity: The Gift That Gives Back

A Charitable Gift Annuity can provide stable income in unstable times — and provide a legacy of support for your community or favorite program. It’s a gift that pays you back.

You can establish a Charitable Gift Annuity (CGA) with the Covia Foundation with cash or stock and create fixed, stable income for your lifetime. Because the payment rate is fixed based on your age, your income never changes. As an example, the payment rate for someone aged 81 is 6.7%. Plus, a portion of your income payment could be tax free. If you establish a gift annuity with stock you’ve held for a number of years, you can bypass the capital gains tax you would owe if you simply sold the stock. Ultimately, the remainder in your CGA will benefit the community or program you designate.

For information or assistance on establishing a CGA, contact Katharine Miller, Covia Foundation Executive Director, at 925.956.7414 or kmiller@covia.org

*This article was originally posted in the Fall 2020 edition of Community Matters 

The post Creating Lifetime Income While Helping Others appeared first on Front Porch.

“As soon as I visited Spring Lake Village, I knew that was it,” she said. “I could not have chosen a better place to spend this chapter of my life. Living here is fulfilling, it’s community, there is nothing lacking. We all go through whatever we’re facing together; there’s so much support.”

Her childhood was marked by the war years on the border between the former Czechoslovakia and Austria. After fleeing to a refugee camp in Austria, her family moved to Germany as the war ended. She went into nursing because “you chose something that was practical that you could make a living at” and set out to travel the world. She worked as a nurse in Germany, Switzerland, England, and, eventually, the United States.

An interesting community with a wide variety of people has always been of interest to her. “When I first came to New York, I found an apartment in what was then Spanish Harlem,” she said. “It was only $60 a month but I loved the variety of cultures. I was so curious because I came from a background where everyone was the same.”

She was eventually drawn to the Bay Area because of her love of San Francisco, its variety of cultures, and its proximity to nature. The natural surroundings of Sonoma County and the regional parks were part of what drew her to Spring Lake Village.

“The people at Spring Lake Village are a real community,” she says. “My friends from the Bay Area who visit are very impressed and envy me for the quality of my life here. There are pockets of friendship here for so many different interests and activities — and people are warm and welcoming.”

It is that sense of community that was at the heart of Mia’s recent decision to update her estate plan and leave a gift to the Covia Foundation. “My nieces and nephews are all doing fine, and I’ve loved living at Spring Lake Village,” she reflected. “I want to leave my estate to the Covia Foundation to benefit this wonderful community.”

So after a lifetime of caring for others in nursing, Mia’s legacy gift will be able to continue caring for the community of people that makes Spring Lake Village such a special place.

For information on making a legacy gift in your will or estate plans, contact Katharine Miller, Covia Foundation Executive Director, at kmiller@covia.org or 925.956.7414

Covia Foundation Heritage Society

The Covia Foundation Honor Roll of Giving at each Life Plan Community celebrates those who support Covia communities and programs with charitable gifts. The Heritage Society section of the Honor Roll celebrates those who plan a legacy gift by including the Foundation in their planned gifts, estate plans or wills.

If you have made such a provision, please let us know so that we may add your name to the Heritage Society of the Covia Foundation Honor Roll. Contact Julie Hoerl, Covia Foundation Development Manager, at jhoerl@covia.org or 925.956.7393.

*This article was originally posted in the Fall 2020 edition of Community Matters

The post Creating a Legacy, Supporting Community appeared first on Front Porch.

Those being helped by the Circle of Friends fund have an average age of over 90 years, with 40% living with a higher level of care. They have been part of their communities on average for more than 16 years.

“The Circle of Friends is so close to the hearts of our residents,” said Covia Foundation Executive Director Katharine Miller. “We are so grateful for the support of this fund that provides assistance for those in our Life Plan Communities who outlive their resources.”

Covia Foundation rounded out the day’s celebration with a prize drawing. Prizes included personalized dinners from the Executive Chefs, themed gift baskets, and a Google Nest Max Hub, a video smart speaker.

The event immediately showed the effect of its success, with our prize winners reaching out with excitement and gratitude, and many residents making donations online or reaching out to the Foundation with questions about planned gifts and estate gifts. Said one supporter: “This is a great cause for us to get behind because this could happen to any of us.”

*This article was originally posted in the Fall 2020 edition of Community Matters

The post Circle of Friends: A Commitment to Community, A Celebration of Caring appeared first on Front Porch.

You don’t have to be wealthy to make a difference. You just have to plant a gift in your estate plans. Your wishes will grow from there, enriching the community of caring and services for seniors.

What types of gifts can I leave to the Covia Foundation in my will?
You may leave items such as cash, property, land, securities or real estate. Every gift, no matter how small or large, can make a difference in the lives of seniors.

Can I support a specific program in my community with my gift?
Yes, you may support a specific community or program. You may also designate your gift be used where the need is greatest. These unrestricted gifts are especially valuable, as they provide flexibility to respond to changing needs and priorities.

Is a gift through my will tax deductible?
The Covia Foundation is a nonprofit 501(c)3 organization. Charitable gifts are deductible to the full extent of the law. However, we suggest you seek advice from your tax advisor. Administrative charges are not deducted from gifts.

I already have a will — can I still leave a gift to the Covia Foundation?
Yes. Simply specify the Covia Foundation as a beneficiary of a particular account (such as a savings account or a retirement account). You can also amend your will with simple language (referred to as a codicil) to include a gift to the Covia Foundation.

How do I get started?
Please contact Katharine Miller, Covia Foundation Executive Director (925.956.7414 or kmiller@covia.org), to discuss your priorities and options. The Covia Foundation receives and administers all charitable gifts made to support Covia Communities, Covia Affordable Communities, and Covia Community Services.

Please notify us of your intentions to provide a bequest gift so that we may include your name as a member of the Heritage Society on the Honor Roll of Donors.

*This article was originally published in the Summer 2020 edition of Community Matters

The post Crafting a Legacy appeared first on Front Porch.

“As I speak with residents and friends out in our communities, we’re getting a lot of questions about recent tax law changes,” says Katharine Miller, Executive Director of the Covia Foundation. “We thought it would be good to share an overview on some of these changes – especially now since many of us have time to catch up on all of that planning and some of those details.”

To provide some information, the Foundation invited Bill McMorran of Green Oak Consulting to provide some basics on the recent Coronavirus Aid, Relief and Economic Security (CARES) Act – “880 pages of fun” – while emphasizing that “as always, you need to talk to your own advisors because they do know your situation better than anyone else.”

Although the new tax deadline is July 15^th, “It’s really important if you have a refund coming to file as soon as possible.” Although McMorran filed his taxes and those of his mother on the same day, McMorran received the direct deposit into his account after five working days, while his mother received her paper check about a week later. “We’re seeing that the direct deposit accounts are the ones that receive priority – or at least they’re moving them out faster,” he says.

On the other hand, if you expect to owe taxes, “you have 90 more days to file your federal returns, and California gives you until July 15 as well to file your tax return. So if you owe money, figure it out, and then sit on it until about July 10, then send it in.” The July 15 deadline also extends to contributions to retirement funds.

Estimated tax payment deadlines have also been extended. Your April 15 first quarterly estimated taxes for the United States and for California are now due July 15. In a recent change, the June 15 second quarterly payment to the US and to California are also now due on July 15.

McMorran noted that “probably one of the best pieces of news I think anyone could expect or have asked for is that, if you take a required minimum distribution out of your IRA, you do not have to take it this year.” Those who choose not to take the distribution will have a lower income and, accordingly, lower taxes.

“If you’ve already taken your required minimum distribution in the past 60 days, you can put it back in,” explains McMorran. He refers people and their financial advisors to section 2203 of the CARES Act to determine what’s best for them. 

Finally, McMorran encourages people to take advantage of this time to review their overall estate plan. “Have you looked at your estate plans in the past three to five years?” he asks. He suggests making sure that your beneficiaries, trustees, and legally responsible parties are all current and able to fulfill the duties assigned to them. “Also, while we have a lot of time on our hands, think about your own legacy: how to best benefit people, the organizations you care about, what really matters, and what you want to share with the future.”

If you would like to see McMorran’s full presentation, as well as another video that goes into more depth about other planning topics, please contact Katharine Miller at the Covia Foundation at kmiller@covia.org and she will send you the online video links.  Covia Foundation will be offering more useful information by video in the future.

The Foundation is available to provide support and insight into your financial planning, charitable giving, charitable remainder trusts, charitable gift annuities, and legacy planning. You can read the Foundation’s most recent Community Matters newsletter to learn about Covia’s impact in the greater community and how gifts and donations to the Foundation help provide critical services to older adults.

The post Covia Foundation provides insights on tax changes, CARES Act appeared first on Front Porch.

Established in 2005 as a partnership between Covia and the Episcopal Diocese of California, the Darby Betts Fund supports services and programs that benefit seniors in the Episcopal Dioceses of California, Northern California, and El Camino Real.

In 2019, the fund was able to disburse $84,000 among 14 organizations, providing $13,000 more than last year’s grants.

Grant recipients and programs for 2019 are:

• Alliance on Aging: Tax Counseling for the Elderly
• Art With Elders: Art classes
• Church of the Epiphany, Vacaville: Community Meals Program
• CIC Ministries: Eyeglass Project
• Contra Costa Interfaith Housing: Housing Supportive Services
• Home Match: Home Readiness Incentives
• Market Day: New Market at Shires Memorial, San Jose
• Epiphany Lutheran & Episcopal Church, Marina: Breakfast with Friends
• Episcopal Community Services of San Francisco: Senior Center, Healthy Aging
• Lavender Seniors of the East Bay : Support Group and Newsletter
• River City Food Bank, Sacramento: Most Important Meal Program
• The Gubbio Project, San Francisco: Adult Day & Respite Program
• The Living Room Center, Santa Rosa: Homeless Transit improvements
• Trinity Center, Walnut Creek: Services for homeless adults

The Reverend Canon Darby W. Betts served as the Chairman of Covia (then Episcopal Homes Foundation) as well as the Archdeacon for Elders for the Diocese of California. He was the driving force behind the development of the Covia Communities St. Paul’s Towers and Spring Lake Village as well as many other initiatives to serve seniors. The fund was named in his honor.

To qualify for the Darby Betts grant, organizations must operate on a nonprofit basis and demonstrate a clear and dedicated focus on services and programs that benefit older adults living throughout the region covered by the three Episcopal Dioceses in Northern California – from its northern border down to San Luis Obispo. The grants are determined by a committee of representatives from the Episcopal Impact Fund and Covia.

The post 2019 Darby Betts Fund recipients announced appeared first on Front Porch.

St. Paul’s Towers started off the season by surprising Oakland’s First Responders with baked goods and treats for Thanksgiving as well as personalized notes thanking them for their work. “It’s important to remember those who cannot spend the holidays with their loved ones which is why we always look forward to doing something special for our first responders,” says Life Enrichment Director Connie Yuen. “Residents really enjoy decorating cookies or writing notes to be given away and our staff enjoy personally thanking those who put their lives on the line for our community.”

Also in Oakland, Carolyn Bolton, Covia’s Director of Senior Resources for Alameda County, organized a fabulous Thanksgiving meal delivery for 200 older adults from Oakland to San Francisco! Staff members from  Covia Well Connected, Covia Home Match, and the Covia Foundation were there to help stuff all the goodie bags. They even got to say hello to one of our newest Home Match San Francisco participants, Nora, who volunteered for the event. Carolyn and her team, including Katharine Miller, Executive Director of the Covia Foundation, returned at Christmas to deliver 210 dinners to isolated seniors.

In Palo Alto, Webster House hosts an annual bake sale with the proceeds going to a community cause. This year, the funds went to Pets in Need, a local non-profit organization that runs two no-kill shelters in Santa Clara County. “In addition to the bakery items, the senior residents donated their hand-made jewelry, and one talented staff member baked fancy dog biscuits for the pets,” according to Pat Lau, Webster House Activity Coordinator. The bake sale raised $700 for Pets In Need.

For the past 15 years, Spring Lake Village staff members have taken on the role of Santa for children in Sonoma County through an annual toy drive. “It is something very special to our community,” says Liz Green, Director of Programs & Transportation. “This truly shows the character of our staff. Many buy not just one toy per child, but often times two or three. We used to do 25 tags, but have increased it to 35 in recent years because of the popularity. All 35 requests have been met by our staff!”

Our communities are always looking for new ways to give back. San Francisco Towers hosted its first ever blood drive just two days before Christmas. Coordinated by San Francisco Towers Life Enrichment Director, Megan Sullivan, the Vitalant Bloodmobile arrived at SFT at 10am on December 23^rd. During the blood drive, which ran from 10am to 2pm, they collected 12 pints of blood with donations from staff and residents, including night shift nurse Jessa Chatto who came in just for the occasion!

“Having been a regular blood donor for 30 years, it was important to me to bring this opportunity to our residents,” says Sullivan. “Giving blood is one of the greatest gifts we can share with others, but it also gives us feelings of accomplishment, value and meaning. Our residents were grateful for the opportunity to be needed and have purpose. And they’re already signing up for the next one!”

All of us at Covia know that feeling of accomplishment, value, and meaning that comes from paying it forward and giving to others. We’re glad to know we have been able to make a difference in many lives, and we look forward to bringing more joy to the world around us in 2020!

The post Giving Back during the Holidays appeared first on Front Porch.

In honor of this week, we’re sharing some gift giving tips from the Covia Foundation that directly relate to estate planning. Check out these tips, consult your advisors, and remember to regularly review your personal estate plan to make sure it is accurate and up to date.

Make a Gift Through Your Will

When people think about estate planning, writing a will is what often comes to mind. A will is an important tool to make sure your wishes are carried out after your death – including gifts to your favorite charitable organizations.

One of the most common gifts in a will is a gift of a specific dollar amount. Another common approach is to leave a percentage of the balance of your estate that is left after specific gifts are made to family members (this is generally called a residuary gift). Every gift, no matter how small or large, can make a difference.

A will can be easily amended with language (referred to as a codicil) to include a gift to a charitable organization.

Individual Retirement Account Gifts

If you leave your Individual Retirement Account to a child or loved one, you also leave them with the obligation to pay taxes on the money that is distributed from the IRA. You, too, must pay taxes on the money you are required to withdraw for your IRA each year—but recent tax policy changes mean you can make charitable gifts today with those funds and they won’t increase your taxable income.

Once you are over the age of 70.5, you are required to make minimum distributions from your IRA. Instead of taking the funds directly, you can direct your IRA trustee instead to make a payment to a charity (or charities) directly from your IRA account. These qualified charitable distributions (up to the $100,000 maximum per year) are not added to your gross income, so they are not taxable to you.

Even if you do not itemize deductions on your 1040 personal income tax return, you’ll come out ahead making charitable gifts this way. Just be sure you complete these qualified charitable donations from your IRA before the end of the calendar year.

Beneficiary Designations

You can leave a gift to charity from an IRA, 401(k), or other qualified retirement plan using a ‘beneficiary designation.’ Generally, you fill out a simple form with your plan administrator naming the charitable organization as a beneficiary of a death benefit payable under the retirement plan.

The designated portion will be paid directly to the organization, not to your estate, and is not designated by a will. Paying these benefits directly to charity means that neither the estate nor any beneficiary of the estate are subject to income tax attributable to the retirement plan.

Charitable Gift Annuity: The Gift that Gives Back

What if you want to make a charitable gift in your will but don’t know how much you might be able to commit? A Charitable Gift Annuity (CGA) can be a tax-smart way to benefit both you and your community. This gift plan allows you to make a charitable gift today that provides you with regular fixed income. After your death, this gift goes to the cause you care about. Because the payment rate is fixed based on your age, your income will never change and a portion of your payment could be tax free. (As an example, the rate for someone aged 81 is 7.5%)

A Charitable Gift Annuity offers other tax planning benefits. The gift annuity provides you an immediate income tax deduction in the year it is established and you can bypass capital gains tax if you fund the gift with appreciated stocks. Plus, you get the joy of planning your legacy today. With the Covia Foundation, you can choose to have your gift used where it is most needed, to support your retirement community, or to help a program you care about.

More Information

It is always best to consult with your legal, tax, and/or financial advisors before making any significant change to your will or estate plan. If you are interested in learning more about estate planning, have any questions, or are considering a gift to the Covia Foundation, please contact Katharine Miller, Covia Foundation Executive Director, at 925-956-7414 or kmiller@covia.org.

The post Financial Wellness: Keeping Up to Date on Estate Planning appeared first on Front Porch.