Helping Others Is Life’s Adventure · 2008. 1. 2. · common, ordinary housewife – all 59...
6
Fall 2007 Vol. 1, No. 3 A Quarterly Publication for Friends of the ABHOW Foundation Helping Others Is Life’s Adventure Lou Binick has a simple yet profound philosophy: life should be built around giv- ing and helping others. “I found a long time ago that making others happy made me twice as happy,” says Binick, who lives with his wife, Yoshiko, at The Terraces of Phoenix and serves on the community’s foundation com- mittee as well as the board of the ABHOW Foundation. The Binicks were among the first residents who moved to The Terraces in April 2005. The carpet was still being laid, Lou recalls. Previously, they lived near the desert community of Carefree, Ariz., on a beautiful estate of three and a half acres. Lou says Yoshiko made him trim all the bushes so she could keep an eye on the rattlers. After 21 years, he says, they figured they would be better off living with people than with the wildlife of the Sonoran desert. Plus, the convenience of The Terraces was certainly appealing to Lou and Yoshiko. “To be hon- est, I think she got tired of cook- ing meals for me,” Lou jokes. The two met in 1946 in Osaka, Japan. Lou was in the Army at the tail end of World War II and par- ticipated in cleanup operations in Okinawa. He was fascinated by the Japanese and their culture. “I discovered that we knew so little about the Japanese,” he says. As a young boy, Lou had read about the treasures of the Orient, and he remembers thinking, “Someday I would like to have stuff like that.” So in Japan he started collecting Asian artifacts. An announcement about an open stamp collectors meeting caught his attention one day, and Lou found himself across the table from an older Japanese gentleman with quite a few stamps. His Yoshiko and Lou Binick were among the first residents to move into The Terraces of Phoenix in 2005. (Photo by Lois Pyne) (continued inside)
Transcript of Helping Others Is Life’s Adventure · 2008. 1. 2. · common, ordinary housewife – all 59...
Fall 2007Vol. 1, No. 3
A Quarterly Publication for Friends of the ABHOW Foundation
Helping Others IsLife’s AdventureLou Binick has a simple yetprofound philosophy: lifeshould be built around giv-ing and helping others.
“I found a long time ago thatmaking others happy made metwice as happy,” says Binick, wholives with his wife, Yoshiko, at TheTerraces of Phoenix and serves onthe community’s foundation com-mittee as well as the board of theABHOW Foundation.
The Binicks were among the firstresidents who moved to TheTerraces in April 2005. The carpetwas still being laid, Lou recalls.
Previously, they lived near thedesert community of Carefree,Ariz., on a beautiful estate ofthree and a half acres. Lou saysYoshiko made him trim all thebushes so she could keep an eyeon the rattlers. After 21 years,he says, they figured they wouldbe better off living with peoplethan with the wildlife of theSonoran desert.
Plus, the convenience of TheTerraces was certainly appealingto Lou and Yoshiko. “To be hon-est, I think she got tired of cook-ing meals for me,” Lou jokes.
The two met in 1946 in Osaka,Japan. Lou was in the Army at thetail end of World War II and par-ticipated in cleanup operations inOkinawa. He was fascinated by
the Japanese and their culture. “Idiscovered that we knew so littleabout the Japanese,” he says.
As a young boy, Lou had readabout the treasures of theOrient, and he remembersthinking, “Someday I would liketo have stuff like that.” So in
Japan he started collectingAsian artifacts.
An announcement about an openstamp collectors meeting caughthis attention one day, and Loufound himself across the tablefrom an older Japanese gentlemanwith quite a few stamps. His
Yoshiko and Lou Binick were among the first residents to move into The Terraces of Phoenix in 2005. (Photo by Lois Pyne)
(continued inside)
Golf Classic Is A Big HitBy all counts, the 11th Annual ABHOWFoundation Golf Classic was a rousing suc-cess. Final accounting is not complete atthe time of printing, but with a recordnumber of golfers, the tournament is pro-jected to net the highest total in its history.
Held Oct. 8 at Round Hill Country Club in Alamo,Calif., the event raised money for the AffordableHousing Assistance Grant Fund, which providesgrants to purchase equipment and amenities thatenhance the quality of life in ABHOW affordablehousing communities. Since 1997, the Golf Classichas netted hundreds of thousands of dollars to ben-efit ABHOW residents.
“It was a spectacular day,” says Joe Anderson, sen-ior vice president for the Foundation. “We discov-ered yet again how much fun we have in this tour-nament and how much good we do thanks to thegenerosity of our sponsors, donors and golfers.”
daughter, Yoshiko, knew a littlebit of English and translated. “Iguess we found we had manythings in common,” Lou says.
They married in a Shinto ceremonyin Osaka in 1946. In order to havethe U.S. government’s recognitionof their marriage, they were wed asecond time at the American con-sulate in Kobe in 1949.
By then, Lou had been dis-charged and took a job with the Atomic BombCasualty Commission, an agency of the NationalResearch Council studying the effects on survivors ofthe bombings of Hiroshima and Nagasaki.
In 1950 Lou entered the civil service as a clerk at amilitary supply depot in Tokyo. In four years, headvanced to chief of the Stock Control Branch, butthen decided there was something else he wanted.
He went into the housing management field, runningthe Bunka, Mampei, Osaka, Sankaido and Sannohotels in Tokyo. In most cases, his task was to returnthe hotel to the Japanese government.
Yoshiko and Lou had two sons and wanted them tohave a better education, so in 1959 the family movedto the U.S., where Lou worked for a short time as atraveling encyclopedia salesman for Sears Roebuckbefore returning to the housing industry.
He was named housing project manager at FortHuachuca, Ariz., the last active Indian fort in the U.S.Army. Over the next 24 years, Lou rose in rank to thetop Army housing position in Washington, D.C.,where he oversaw management of 154,000 family,738,000 bachelor, and 17,000 hotel and VIP quartersthroughout the world.
Their son Dennis was an Arizona State ChessChampion in 1965 and again in 1966. He also wasawarded a Champion’s Chair at an adult chess tourna-ment held at Ft. Huachuca. He pursued an engineeringdegree at the University of Arizona. His aspirationsended when he was killed in an auto accident in 1967.
Their son James, a civil engineer, is a managing part-ner in an engineering firm with offices in NorthernArizona and lives with his wife, Vada, on a ranch inCamp Verde, Ariz., where they raise American Eskimoshow dogs and miniature horses.
Before retiring in 1983, Lou served a two-year term aspresident of the Professional Housing ManagementAssociation, which includes all housing managementpersonnel in the Armed Forces.
It was a rewarding career, Lou says. “It putme in a good position to understand people,housing, and everything that’s connected.”
Today, he’s putting that experience to usewith the ABHOW Foundation and with TheTerraces of Phoenix Foundation, for whichhe serves as secretary-treasurer. Lou isproud of the local foundation’s success todate, including its funding of The TerracesTechnology Center, which provides com-puter classes for residents. Lou is one ofthe advisors. “I’ve been a computer nut all
my life,” he says.
Lou is also helping the community with conservation,encouraging the campus to transition to compact flu-orescent lights to save energy and money, which canbe used to fund other activities.
Recently, he and Yoshiko established a small endow-ment at The Terraces with the aim of inspiring othersto give. “I wanted to make specifically clear that weneeded to increase our endowments here,” he notes.
He and Yoshiko also contributed a few of their Asianitems to be auctioned at the recent ABHOWFoundation Golf Classic. The collection that startedjust after the war has grown to several thousandpieces of Japanese and Chinese art, some items dat-ing back to 7000 B.C. Lou serves on the board of theAsian Arts Council, an offshoot of the Phoenix ArtMuseum, where several of his pieces are on exhibit.
All of this activity makes life an adventure. “To melife is very enjoyable,” Lou says. “I wish I were 100people so I could do more.”
Helping Others Is Life’s Adventure (continued from cover)
Historical Marker
The First Annual ABHOWFoundation Golf Classic washeld Sept. 29, 1997, at theCrow Canyon Country Club inDanville, Calif., raising morethan $25,000 for quality of lifeimprovements at ABHOWaffordable housing communities.
Years Ago
Matching Program BoostsLocal Endowment FundsThe endowment funds at ABHOW’s continu-ing care retirement communities got a bigboost this year, thanks to residents whoestablished Charitable Gift Annuities with a matching commitment from ABHOW.
For every $5 of new Charitable Gift Annuities issuedby the Foundation in the 2007 fiscal year, ABHOWcontributed $1 to the special project fund of the localcommunity. The total matched was $104,600.
“We’re grateful for those residents who took advantage of this unique opportunity to help theirneighbors while strengthening their own financialsituation,” says Joe Anderson, senior vice presidentfor the Foundation.
A Charitable Gift Annuity (CGA) is one of the mostimportant giving mechanisms for the Foundation.Donors receive payouts at a rate that has been higherthan traditional CDs, and they also enjoy tax benefits.Upon maturity, the remaining funds are bequeathed to the community’s endowment fund. The minimumamount for a CGA is $10,000.
With the matching funds from ABHOW, the communi-ties have money available immediately for projectsapproved by their local foundation committees. Thetotal matched for each community is as follows: Pilgrim Haven, $36,000; Grand Lake Gardens, $16,000; Judson Park, $14,000; San Joaquin Gardens, $12,000;Rosewood, $12,000; Plymouth Village, $8,600; TheTerraces of Phoenix, $4,000; and Valle Verde, $2,000.
“Residents should be proud of their generosity,” saysAnderson, “and take delight in the tangible impactthey’ll see in their communities.”
Residents Must Act NowTo Take Advantage of LawABHOW residents have a special opportu-nity to benefit the Foundation and theircommunities – but they have to act beforethe end of the year.
That’s when the Pension Protection Act of 2006expires. Under this legislation, those 70-and-a-halfyears old can use funds transferred from an individ-ual retirement account (IRA) to make a gift to aqualified charitable organization without having topay taxes on distributions.
“This is a great opportunity for ABHOW residents tomake a lasting contribution to their communitieswithout incurring a tax penalty,” says Leonard Kelly,vice president of the Foundation.
Residents enjoy the following benefits under thePension Protection Act:
• They may transfer up to $100,000 directly from an IRA.
• The charitable deduction counts toward minimumrequired distributions.
• The transfer generates neither taxable income nor a tax deduction, so even those who do not itemizetheir deductions receive the benefit.
“Making a gift can be accomplished simply,” Kellysays, “and it allows residents to maximize the benefitof their IRA dollars.”
To learn more, contact Leonard Kelly at 800-222-2469 ext. 7166. But remember, this opportunity only lasts until Dec. 31, 2007.
“ ”
What Is Your Legacy?
Doris Spoor and her husband,Terrill, moved to PlymouthVillage in Redlands, Calif., in1997. He died later that year,just 12 days before their 60th anniversary. Terrill was a general contractor and built many homes in LakeArrowhead. Doris holds two gift annuities with the
ABHOW Foundation, designating Plymouth Village asthe beneficiary. She has also been a major contributorto special projects at the community.
“I really don’t know. My husband and I came fromMissouri. He used to say, ‘I’m just a plain old countryboy.’ I don’t know how to answer that. I’m just acommon, ordinary housewife – all 59 years. Weworked hard all our years. Don’t know much more.We worked with what we’ve got. He passed awaynine years ago. We didn’t have any children. Just thetwo of us. We planned all our lives to take care ofourselves. … We didn’t spend all of our money thatwe made. We saved it. Today the young people don’tthink about getting old. It just seemed like weplanned that all our lives. … When you look back onit, we were just kids. Didn’t have a dime to ourname. But we worked and saved it, and we lived inSan Bernardino 59 years before we moved here. …We had a good life. We really had a good life.”
Year-End AppealBenefits ABHOW’sWider CommunityYear-end appeals will be arriving inthe mail soon from favorite charities,and among them will be a requestfrom the ABHOW Foundation:Consider making a gift that extendsABHOW’s impact beyond its retire-ment communities.
“ABHOW has a deep commitment tosocial responsibility, which it definesas honoring its promise as a charita-ble corporation to the cities andregions it serves,” says Joe Anderson,senior vice president for the ABHOWFoundation. “This year we are inten-tionally inviting donors to share inthat wider mission.”
Donors will have the option of con-tributing to the Foundation’s SocialResponsibility Fund, which awardssmall grants to nonprofit organiza-tions that provide support services to seniors. Other options include theAffordable Housing Assistance GrantFund, CCRC endowments and specialproject funds.
While helping others, donors also have an opportunity to increase theirincome tax refund or reduce theirincome tax burden through a year-endgift. To discuss giving options and taxbenefits, contact the Foundation at800-222-2469 ext. 7151.
A Word from the Foundation ManagerWhen we speak of the work of the ABHOWFoundation, we generally talk about how theassets are used to provide benevolent care inABHOW’s continuing care retirement commu-nities and how gifts improve the quality of lifein the company’s affordable housing.
Helping donors make a difference in the livesof others – that’s really our mission, the rea-son we hold these assets. But there’s anotheraspect to our work that should please donors.The Foundation plays a vital role in the finan-cial health of ABHOW.
The Foundation’s $50 million in assets are combined with ABHOW’sassets to improve Days Cash On Hand, a very important indicator forthe financial markets as ABHOW seeks financing for capital improve-ments and campus redevelopment. Health care trusts establishedthrough the Foundation protect against operating losses.
Furthermore, the operating income of the CCRCs is enhanced eachyear by the Foundation. On average, the Foundation has contributed$1.05 million annually to the CCRC operations for more than adecade. In addition to helping residents who have outlived theirresources, these benevolent contributions offset operating costs and keep fee increases down.
In short, ABHOW has an incredible asset in its Foundation. And only a few senior living systems in the U.S. can make the same claim.
Recently, Ziegler Capital Markets, the nation's leading senior living bondunderwriting firm, invited me to tell our story at the 10th AnnualSenior Living Finance and Strategy Conference in San Antonio. Zieglerhas studied the financial impact of the ABHOW Foundation on ABHOWand compared that impact to other systems. The bottom line is thatthe Foundation benefits ABHOW far more than the foundations ofsimilar-sized systems.
Following my presentation, there was a chorus of interest: “I wish we had such a foundation,” many said. “How do we start one?” others asked.
The ABHOW family is right to be proud of the Foundation. Credit is due to the foresight of the founders and the faithfulness of ourmanagers. But above all, it’s the generosity of our donors that hasmade the Foundation so vital to ABHOW.
When you give to the Foundation, know that in addition to providingcharitable assistance, you help strengthen the business of ABHOW.That has been an important part of the Foundation’s work for nearly40 years – and it is a legacy we share.
Joe Anderson
Senior Vice President
A legacy results from thefacts of our behavior thatremain in the minds of oth-ers, the cumulative informalrecord of how close wecame to the person weintended to be. – Max De Pree, author andformer chairman of HermanMiller, Inc., b. 1924
“
”
LEGACY DEFINED
Apartment to Be AuctionedFor Super Bowl WeekendAre you ready for some football? Howabout the Super Bowl in Glendale, Ariz.,Feb. 3, 2008? And how about beautifulaccommodations for the weekend at The Terraces of Phoenix?
If your bid is right, you’ll enjoy three nights in theheart of the city. And you’ll help raise money for TheTerraces of Phoenix Foundation.
The community is auctioning its two-bedroom, two-bath model apartment that sleeps four. Included inthe package are two dinners and one brunch in TheTerraces dining room, champagne and appetizers,and in-house massages. The minimum bid is $1,800.
“The price is extremely reasonable as booking accom-modations around the valley at that time in a nice spot,centrally located, are almost impossible to get,” saysAndrea Schulte, director of activities at The Terraces.
If the Super Bowl isn’t enough, one of the PGA tour’smost popular events, the FBR Open, will be held innearby Scottsdale Jan. 31-Feb. 3.
And there’s more. “The kicker of this whole thing isthat most of the cost is tax-deductible,” Schulte says,noting that all proceeds will go to the community’sfoundation, which provides benevolent care andfunds special projects.
Bidding began Nov. 1 and will conclude Dec. 14, 2007.Residents, family members and employees of anyABHOW community can participate. To submit a bid,send an e-mail to Schulte at [email protected]. Formore details, contact Schulte at 602-371-4105.
6120 Stoneridge Mall Road, Suite 300Pleasanton, CA 94588800.222.2469 ext. 7151
E-mail: [email protected]/foundation
Please note this memorandum does NOT constitute legal or tax advice. ABHOW urges all residents to consult their owntax advisors, attorneys or accountants for definitive advice with respect to the matters included in this newsletter.
The two-bedroom, two-bath model apartment sleeps four.
