The Lakeview Village Foundation continues to fulfill it’s vision, celebrates 20 years
Many of us have committed April 15 to memory, but it has special significance for the Lakeview Village Foundation. On April 15, 1997 the Foundation was established as a 501(c)3a non-profit, making 2017 the organization’s 20th anniversary.
While the Internal Revenue Service made the Foundation official in 1997, the genesis of the Foundation stretches back to 1991.
At that time, residents and their families wanted a way to give memorial gifts to Lakeview Village, in order to enrich the lives of residents. To answer this need, Lakeview Village formed the Gifts and Memorials Committee. Three residents served on the committee alongside two members of the management team and one member from the Board of Directors.
This committee received donations and funded small projects around campus, including gifts to the library, purchasing an organ for Heritage Activity Center and, with a lead gift from the What Not Shop, installing a stationary fishing dock at Fountain Lake. One year later, total contributions to the committee tallied $2,544.50. (Contributions to the Foundation in 2014 totaled $1,113,308.)
The committee operated under the umbrella of Lakeview Village, Inc. There was some concern among the committee that this structure was not as transparent as it could be if a separate Lakeview Village Foundation was established to receive all donations.
Richard Catlett, Chief Executive Officer of Lakeview Village at this time, served on the Gifts & Memorial Committee.
“As the committee grew, it became obvious we wanted to do something different,” Richard said. “We wanted to separate the memorial donations from the corporation. Additionally, establishing a Foundation would give residents the ability to sit on the Board and be active in how funds are spent.”
In 1997, less than 6 years after the Gifts & Memorial Committee held its first meeting, the Internal Revenue Service officially recognized the Lakeview Village Foundation as a 501(c)3a. This same year, the Good Samaritan Endowment Fund was started thanks to an initial donation of $5,000 from Bill and Betty Baker. (Today, the Good Samaritan Endowment Fund has a balance of over $1 million.)
Leland King joined the Gifts & Memorial Committee in 1996 and served as the first chairman of the Lakeview Village Foundation Board from 1997-2003.
“The entire committee worked on getting 501(c)3a status,” Leland said.
Harley Haskin, a retired attorney living at Lakeview Village, looked over a draft of the bylaws and made suggestions to better meet the requirements of 501(c)3a organizations.
“I think it’s marvelous that they’ve done what we set out to do and now have a [Good Samaritan Endowment] fund of over $1 million,” Leland said. “It’s been interesting to see it grow!”
Quentin Jones served on the Gifts & Memorial committee in 1996 as the representative from the Lakeview Village Board of Directors.
“There was some feeling that the committee was not as focused as it could have been if we established a Foundation,” Quentin said.
Quentin remembers the committee discussing at length a desire to use the Foundation to strengthen the quality of life for residents at Lakeview Village. They wanted the Foundation to be able to use donations 100% as the donor intended.
According to Quentin, that’s the reason the annual Foundation benefit is so important. Funds raised from the benefit go toward the general operating fund of the Foundation, and help cover expenses. This allows the Foundation, in turn, to direct 100% of designated donations to the appropriate fund.
“Instead of a percentage of every donation going toward operating costs, they try to raise money for unrestricted funds separately,” Quentin said. “Fundraisers have a reputation of always having a hand out, or grubbing for a buck, but the Foundation here is more of a ministry. If you see someone from the Foundation, they are coming as a friend and colleague more than anything else.”
Foundation Executive Director Nelson Rumore has been pleased with the progress that has been made in the last 20 years, the last 12 years with Nelson at the helm. Meeting the $1 million goal for the Good Samaritan Endowment Fund last year was a huge milestone, he said.
“It was a major milestone, but we still have miles to go to get to the place where the fund will provide for the total benevolent care need for now and in the future,” Nelson said.
According to Nelson, the Foundation has three main areas of focus for 2017. The first is the renovation of the Heritage Activity Center, the second is celebrating the Foundation’s 20th Birthday, and the third is growing Legacy Society Membership.