terwilliger plaza foundation, inc. · the terwilliger plaza foundation conducted an independent...

Lesta Hoel Memorial Trust Fund

2015 Annual Report

Terwilliger Plaza Foundation, Inc.

2015 Annual Report

P A G E 1

2015: A Year of Progress For the Terwilliger Plaza Foundation, the year 2015 marked a year of progress. The year started

with welcoming four new members to the Cornerstone Club and finished in a series of accomplish-

ments including celebrating the most successful Fall Gala ever. The capstone was signing a pur-

chase and sales agreement for the Foundation’s long-held West Linn property, which brings us

closer to realizing the donor’s vision of the net proceeds being invested into programs and

enhancements benefitting the Terwilliger Plaza community. In between those times, the Foundation

made grants. Collectively, we celebrated special moments ranging from the dedication of the

3-Dimensional display case on the third floor and to the dedication of the Roof Top Patio following

an extensive Foundation-grant funded renovation. Your involvement and support made these mile-

stones possible. For that, we are truly grateful.

Brenda Ray Scott, CFRE

Executive Director

2 0 1 5 A N N U A L R E P O R T

T E R W I L L I G E R P L A Z A F O U N D A T I O N

I N S I D E T H I S

A N N U A L R E P O R T :

The Year in Review 1

Foundation Donors 1

Cornerstone Club 2

Foundation

Financial Position

3

Foundation Statement of

Activities & Net Assets

4

Treasures 4

Foundations Donors

(continued)

5

2015 Summer Solstice 6

2015 Fall Gala 7

Lesta Hoel Fund Donors &

2015 Foundation Donor Awards

8

Lesta Hoel Fund

Balance Statement

9

Lesta Hoel Fund Statement of

Activities & Net Assets

10

About the Foundation Back

Grantmaking Back

Cornerstone Club Cornerstone Club Members may join at any time and are welcomed throughout the year. The Cornerstone Club holds an annual luncheon to celebrate its Members and to recognize new Members to this giving society.

Cover Photo (left to right): Robert Frost, Alice Frost, Cynthia Lewinsohn, Peter Lewinsohn, and Shirley Holland Photo Credit: Andie Petkus Photography

In Memory of Denise Anders Dee Sellner In Memory of Elizabeth Asbury Don and Edythe Barr Clifford Droke and Diane Pinney **Mary Jane Goeth Hugh and Shirley Harcourt Eileen Markson Frances Ousley D. Elizabeth Reid Nan Jean Roller Bob and Marilyn Schuberg Twelfth Floor Members of the Tower In Memory of Ruth Barbour Fifth Floor Members of the Tower Marguerite Metcalf In Memory of Barry Barnett Dee Sellner In Memory of Ruth Becker Gina Bonner Eighth Floor Members of the Tower In Memory of George Bingham Clifford Droke and Diane Pinney *Al Goudy Hugh and Shirley Harcourt **Charles Lutton Mary Myers *Frances Ousley Rose Rustin Dee Sellner Third Floor Members of the Tower

In Memory of Marjorie Briggs ***Carolyn Savage In Memory of Ruth Chapin Anonymous Hugh and Shirley Harcourt Frances Ousley Nan Jean Roller Tenth Floor Members of the Tower In Memory of Maxine Dereiko ***Carolyn Savage In Memory of Marge Elkins Pat Berg Fifth Floor Members of the Tower Marguerite Metcalf In Memory of John Fillmore Pat Berg Fifth Floor Members of the Tower Marguerite Metcalf Frances Ousley In Memory of Don Frisbee Al Goudy Don and Edythe Barr ***Kitty Bassett Pat Berg **Mary Jane Goeth Al Goudy Jim and Lynn Manuel Marguerite Metcalf Rose Rustin In Memory of Charles Frischmann Fifth Floor Members of the Tower

Gifts in Memory - January 1, 2015 thru December 31, 2015 Terwilliger Plaza Foundation

In Memory of Nancy Funsten Ford Funsten Tom and Carolyn Gavin Mary Ellen Higgins In Memory of Peter Goodwin Marian Love In Memory of Imogene Huffine ***Carolyn Savage Sixth Floor Members of the Tower In Memory of Joyce Hulse Tom and Colleen Foster Jim and Lynn Manuel D. Elizabeth Reid Carolyn Savage Bob and Marilyn Schuberg In Memory of Rosalie Humphrey Don and Edythe Barr Tom and Colleen Foster Ninth Floor Members of the Tower In Memory of Helen Ingram Twelfth Floor Members of the Tower In Memory of Carole Katz Tom and Colleen Foster Mary Ellen Higgins Frances Ousley Rose Rustin In Memory of Becky Koch Eleventh Floor Members of the Tower Tom and Colleen Foster

Gift Designations **Terwilliger Plaza Foundation Endowment Fund ***Swanson Classical Music Fund

Marilyn Schuberg Burton C. Selberg Maxine Selberg Leon N. Sherban Mildred P. Smith Grace L. Spacht Bill and Polly Spofford Douglas Strain Robert Swanson Gretchen “Day” Trommald Martha Turner Mary Vance Franklin White Grace and Bruce White Paul Yeager

PA G E 2 T E R W I L L I G E R P L A Z A F O U N D A T I O N

Greg and Dorothea Gingell Lou and Del Greenfield Guinivere Bryan Hall Constance Hanf John Harrison Hal Hart Elizabeth Heater Louise and James Heilig Florence Heim Lesta P. Hoel M. Joyce Hulse Sam Jagger Leighton and Phyllis Johnson Frances “Bunny” Jubitz Jane Winks Kilkenny

Betty Allen Anonymous Doris Anderson John L. Anderson Bob Burdick Rose Cannon Frank & Eleanor Chown Catherine Clarke Stanley Cohn Margaret Crabtree Margaret Edwards Margaret Emory Gayle and Frank Faha Ada Gange Naomi Garnjobst

George Knox Jean Leaf Betty Lindsay Ethel Lutton Lucy Marlitt Robert and Margaret McGill Bernardita Medina George and Katherine Metcalf Dorothy H. Miller B. Marie Miller Dorothy Newman Louise Peterson Phyllis Pratt George and Claire Rives Margaret Robinson

Mitzi Ellis Tom and Carolyn Gavin Barbara Goy Sally Hart Ruth Hayward Chuck Lutton Pat Mahone

Marian Martinez Brad and Janet Mersereau Marguerite Metcalf Marie Nylen Frances Ousley Scott Philips D. Elizabeth Reid

Joseph & Misako Allerdice Anonymous (4) James R. Blackaby Virginia Burgess Jean Cory Allen Dobbins Byron and Mary Dougan

Cornerstone Club Members (12/31/15)

Cornerstone Club Members: Remembered

In Memory of Marilyn Schuberg Charles Lutton Jim and Lynn Manuel Eileen Markson Mary Myers Joan Pollard Susan Pflaum-Quarterman D. Elizabeth Reid Rose Rustin Bob Schuberg Steven W. Seymour In Memory of Maxine Selberg Fourth Floor Members of the Tower Carolyn Savage In Memory of James Stewart D. Elizabeth Reid Rose Rustin ***Carolyn Savage In Memory of Mable Stephens Pat Berg Fifth Floor Members of the Tower Marguerite Metcalf

In Memory of Farley Maxwell **Tom and Carolyn Gavin Al Goudy F. Eileen Elliot Jim and Lynn Manuel Carolyn Savage In Memory of Hannah May Don and Edythe Barr Jean Cory Tom and Colleen Foster Jim and Lynn Manuel Eileen Markson Mary Myers Rose Rustin Seventh Floor Members of the Tower In Memory of J. Robert McGill Eileen Markson In Memory of Roy Metcalf Marguerite Metcalf In Memory of Beverly Partridge **John Partridge

In Memory of Becky Koch Frances Ousley Linn and Jan Pedersen ***Carolyn Savage In Memory of Anne Kronenberg **Kitty Bassett Tom and Colleen Foster In Memory of Christina Laing Cheryl J. McDowell In Memory of Betty Lindsay Jean Cory Allen Dobbins Mary Ellen Higgins **Charles Lutton Eileen Markson Katharine McDuffie Ninth Floor Members of the Tower *Frances Ousley D. Elizabeth Reid In Memory of June Martel Sixth Floor Members of the Tower

Gifts in Memory - January 1, 2015 thru December 31, 2015

Carl Rosenburg Rose Rustin Geraldine Sargent Bob Schuberg Dee Sellner Jeanne Steed

List continues on pg. 5

In Memory of Ralph Pratt Al Goudy Don and Edythe Barr Fourth Floor Members of the Tower Frances Ousley D. Elizabeth Reid In Memory of Donna Jean Ray Dee Sellner In Memory of Claire Rives Clifford Droke and Diane Pinney In Memory of George Rives Clifford Droke and Diane Pinney In Memory of Ella Louise Schmidt Dee Sellner In Memory of Marilyn Schuberg Don and Edythe Barr Flora Barrows Vicki and Brian Chase Classic Foods Ltd. Eleventh Floor Members of the Tower

PA G E 3

Audited Financial Statements The Terwilliger Plaza Foundation conducted an independent annual audit by the accounting firm of Hansen Hunter & Co.

P.C. for fiscal year end 2015 and 2014. The following tables illustrate the financial position for the Foundation and TPF

Holdings, LLC combined. The auditors issued an unqualified or “clean” opinion for 2015 and 2014. A full copy of the

audited financial statements is available upon request.

2 0 1 5 A N N U A L R E P O R T


Terwilliger Plaza Foundation, Inc.

Audited Consolidated Statements of Financial Position

Year Ended December 31, 2015 and 2014

Year Ended Year Ended

12/31/15 12/31/14

Assets

Cash and cash equivalents $ 517,513 $ 324,810

Certificates of Deposit 199,779 299,901 Accrued interest receivable 381 329 Gift annuities receivable 91,258 96,671 Endowment Funds held by the Oregon Community Foundation 570,397 602,579 Assets whose use is limited Cash & and cash equivalents - board designated 3,200 3,200

Cash and cash equivalents - donor restricted 187,844 253,751 Land - donor restricted 5,625,000 4,585,000

Prepaid land costs - donor restricted 222,468 199,241

Total assets $ 7,417,840 $ 6,365,482

Liabilities

Accounts payable 1,723 -

Accounts payable - related party $ 500,635 $ 393,920

Total liabilities $ 502,358 $ 393,920

Net assets

Unrestricted $ 774,307 $ 688,058 Temporarily restricted 5,849,993 5,006,829

Permanently restricted 291,182 276,675

Total net assets 6,915,482 5,971,562

Total liabilities and net assets $ 7,417,840 $ 6,365,482

T E R W I L L I G E R P L A Z A F O U N D AT I O N

Audited Consolidated Statement of Activities and Changes in Net Assets


PA G E 4 T E R W I L L I G E R P L A Z A F O U N D AT I O N

Unrestricted Temporarily Permanently Year Ended Year Ended

Restricted Restricted 12/31/15 12/31/14

Revenues and Gains

Contributions $ 104,567 $ 34,123 $ 3,410 $ 142,100 $ 143,020

Legacies and Bequests 21,865 - - 21,865 25,000

Investment income, net 1,415 - - 1,415 3,102

Investment income (loss), endowment funds - 4,868 - 4,868 14,623

Unrealized investment gains (122) 1,026,821 - 1,026,699 1,840,496

Thrift shop income 17,572 - - 17,572 12,563

Special events income - 47,151 - 47,151 34,853

Proceeds from Sale of Donated Assets 261 128 - 389 88

Change in Valuation of Gift Annuities (9,523) 4,774 11,097 6,348 10,911

Total revenues and gains $ 136,035 1,117,865 14,507 $ 1,268,407 $ 2,084,656

Net assets released from restrictions

Satisfaction of program restrictions $ 262,403 (262,403) - $ - $ -

Total net assets released from restrictions $ 262,403 (262,403) - $ - $ -

Total revenues, gains, and losses $ 398,438 855,462 14,507 $ 1,268,407 $ 2,084,656

Expenses

Grants $ 199,354 - - $ 199,354 $ 168,569

Pass through expenditures 34,073 34,073 41,745

Audit and tax expenses 9,860 - - 9,860 7,275

Payroll and related costs 47,431 47,431

Office expenses 19,324 19,324

Fundraising expenses 2,147 - - 2,147 640

Special events expenses - 12,298 - 12,298 8,801

Total expenses $ 312,189 12,298 - $ 324,487 $ 227, 030

Change in net assets 86,249 843,164 14,507 943,920 1,857,626

Net assets, beginning of year $ 688,058 5,006,829 276,675 $ 5,971,562 $ 4,113,936

Net assets, end of year $ 774,307 5,849,993 291,182 $ 6,915,482 $ 5,971,562

PA G E 5

Foundation Gifts January 1 thru December 31, 2015

2 0 1 5 A N N U A L R E P O R T T E R W I L L I G E R P L A Z A F O U N D A T I O N

James Anderson and Anne Lynch Anonymous Mary Baumgardner Pat Berg James R. Blackaby Cathleen Cavin Tom and Carolyn Gavin Jack Grey and Phyllis Edy-Grey Mary Ellen Higgins Joyce Hull Dorothy Johnson Charles and Gloria Kovach James and Elizabeth McFarland Ruth Mendelsohn

Terwilliger Plaza Foundation Endowment Fund

Apollonia Geiger Katherine “Kate” Robinson

Vehicle Donation Stan Dallas and Elizabeth Copenhaver Volunteers of America

Matured Charitable Gift Annuity

Elizabeth Lindsay M. Joyce Hulse Phyllis Pratt

GIFTS IN HONOR

**Terwilliger Plaza Foundation Endowment Fund ***Swanson Classical Music Fund

Gift Designations

We apologize if the name of any donor has been omitted from this list or misspelled for gifts listed in this annual report. Contact Foundation Executive Director Brenda Ray Scott at 503-808-7884 or [email protected] so that we may correct the error.

In Memory of Marise “Marcy” Wolfard Pat Berg Fifth Floor Members of the Tower Marguerite Metcalf In Memory of Tom Wright Flora Barrows

In Memory of Louis Townsend Dee Sellner In Memory of Douglas S. Vannier Dee Sellner In Memory of John Wild Eighth Floor Members of the Tower Mary Ellen Higgins D. Elizabeth Reid Rose Rustin Bob and Marilyn Schuberg Sabine Wild In Memory of Ruth Ann Wilson Betsy Carnes Sixth Floor Members of the Tower

Elizabeth “Anne” Olson Scott Philips The Scott Philips Fund of the Equity Foundation Shirley Phipps Joan Rague Nan Jean Roller The Rose City Banjoliers Bob Schuberg David and Frances Sessions Don and Earlene Sharpe Swisher Leif and Marjorie Terdal Marvin and Nancy Weinstein Sue West Mary Wilde John and B.J. Wittwer Rod and Carol Woodworth

Gifts in Memory Unrestricted

In Honor of Betty Gedney Jerome Klefner In Honor of Combined Birthdays x 10 + 10 Brad and Janet Mersereau In Honor of Bob and Marilyn Schuberg **Carrie Saito In Honor of Terwilliger Plaza Wellness Staff Sue Beardwood

In Honor of Betty Balmer ***Kitty Bassett ***Gloria Mighell In Honor of Margie Burdick ***Gloria Mighell In Honor of Byron Dougan James and Elizabeth McFarland In Honor of Tom Foster Ninth Floor Members of the Tower

Gift of Life Insurance Anonymous

Terwilliger Plaza Foundation

OTHER GIFTS

GIFTS IN HONOR OF BILL WILSON Anonymous (2) Ron and Naomi Bloom Ben and Claudia Boswell Mary Cawthon Marva Guenther Mary Ella Kuster and Michael Keating Peter and Cynthia Lewinsohn Jim and Lynn Manuel

Mary Myers Frances Ousley D. Elizabeth Reid Betty Roren Rose Rustin Carolyn Savage Brenda Ray Scott Dorothy Wysham

Treasures: The Shop Treasures, the Plaza’s onsite thrift shop, contributed $17,304 in 2015. A committee of Members including Sue Beardwood, Gina Bonner, Alice Frost, Shirley Holland, Pat Peterson, Cynthia Lew-insohn, Alice Ronald, Rose Rustin, Bob Schuberg, and Marjan Wazeka lead by co-chairs Kathleen Rogovoy and Frances Ses-sions volunteered their time providing services from accepting and assessing gifted items to providing expert customer service during shop hours. In 2015, proceeds from the shop went to the Foundation’s unre-stricted fund making it possible for the Foundation’s Board of Direc-tors to allocate the funds where the need is greatest and will have an impact.

Many thanks to our donors who contribute merchandise to Treas-ures, books to our Library, and artworks for the Plaza’s collection!

In-Kind Gifts

Caption describing

picture or graphic.

PA G E 6

Event Patrons

2015 Summer Solstice: Tea in the Garden

(left to right, close front) Pat and Bob Peterson (back, standing) Dee Sellner

2 0 1 5 A N N U A L R E P O R T


More than 110 Members enjoyed “Tea in the Garden” on Friday, June 19, 2015. This year’s annu-al luncheon featured a menu and beverages inspired by a traditional tea service and entertain-ment was provided by pianist and composer Brad Mersereau. Each table featured unique tea-themed decorations with roses from the Plaza’s garden. The menu included delicious treats in-cluding traditional cucumber sandwiches and much more. Support for the event came from Business Superstar sponsors Bullard Law and Umpqua Bank as well as Business Supporter sponsors Apollo Drain & Rooter Service, Inc., Portland Lighting, Inc. and Recology Portland, Inc. Special thanks to our many patrons, ticket purchasers, and contribu-tors who also supported the event. Special thanks to the Plaza’s Hospitality and EVS teams, Melissa Augustine and Lynda Devery, and also the many other staff who contributed time and talent for the event. Volunteers for the event included Scott Philips and Beth Reid who managed the Lobby Ticket Sales for the event. Our thanks to Members, sponsors, volunteers, staff, and all who contributed to the success of this year’s event. The more than $6,500 in net proceeds from the event will strengthen the Foundation’s capacity for making grants that fund equipment and programs that enhance the quality of retirement living at Terwilliger Plaza.

(left to right, close front) Mary Ellen Higgins and Jeanne Pendergrass

The table is set!

Sponsors

Claire Amsden Anonymous Diana Baird Don and Edythe Barr Kitty Bassett Mary Baumgardner Pat Berg James R. Blackaby Mary Cawthon Allen Dobbins Paul and Marie Fellner Tom and Carolyn Gavin Mary Jane Goeth

Robert and Velma Goodlin Al Goudy Marva Guenther Margaret Hamachek Katherine Hart Lee Hascall Mary Ellen Higgins Shirley Holland James and Joyce Jozwiak Bill Knodell Jim and Lynn Manuel Eileen Markson Marian Martinez

Robert McDaniel Larry and Sally McLaughlin Ruth Mendelsohn Marguerite Metcalf Roma Morthland Mary Myers Elizabeth Olson Frances Ousley Philip and Barbara Parshley Jeanne Pendergrass Robert and Patricia Peterson Scott Philips

Shirley Phipps Al and Pat Rieke Nan Jean Roller Rose Rustin Geraldine Sargent Roy Schreiber and Carole Heath Maxine Selberg Ethel Stevens Sabine Wild Bill Wilson John and B.J. Wittwer Rod and Carol Woodworth Robert and Evelyn Wulf

BUSINESS SUPERSTAR

Bullard Law Umpqua Bank

BUSINESS SUPPORTER

Apollo Drain & Rooter Service, Inc. Portland Lighting, Inc.

Recology Portland Inc.


2015 Fall Gala: Hooray for Hollywood

PA G E 7 T E R W I L L I G E R P L AZ A F O U N D AT I O N

Terwilliger Plaza Foundation’s Fall Gala, held on Friday, October 9,

2015 raised a record setting $28,600 in net proceeds to help the Foun-

dation to build the grant making capacity of the Foundation. The nearly

50 percent growth over the previous year reflects 100 percent growth

in sponsorship proceeds.

Guests enjoyed cocktails as Plaza favorites Pianist Sally Harmon and Bassist Frank Gruner played standards from the American Song Book and other tunes. After dining on a delicious meal designed, prepared, and served by the Plaza’s Culinary Team, guests adjourned to the Auditorium where they enjoyed music provided by the Kevin Karrick

Nostalgia Trio featuring special guest Susan Sandel.

Special thanks to our Event Sponsors, Patrons, Ticket Purchasers,

Silent Auction Donors, and staff who made the event such a success.

Robert and Alice Frost Diane and Paul Gibson Jane Goeth Robert and Velma Goodlin Alan Goudy Marva Guenther Nancy D. Haigwood Katharine Hart Mary Ellen Higgins Dorothy Johnson James and Joan Jozwiak Bill Knodell Jim and Lynn Manuel

Anonymous Kitty Bassett Pat Berg James R. Blackaby Elizabeth “Ibby” Brooke Ginny and Jerry Burgess Mary Cawthon Jean Cory Allen Dobbins Clif Droke and Diane Pinney Mitzi Ellis Paul and Marie Fellner

Eileen Markson Marian Martinez Robert McDaniel Robert McDowell Larry and Sally McLaughlin Ruth Mendelsohn Marguerite Metcalf Roma Morthland Mary Myers Marie Nylen Philip and Barbara Parshley Bob and Pat Peterson Scott Philips Thomas and Joanne Rannells

Business Patron Lovsted-Worthington, Inc. McKesson Stoel Rives LLP Plaza Friend Cash’s Drapery, Inc. KONE Inc. MICI Ron’s Service, Inc. Willamette Dental In-Kind Donations B&B Print Source Eastside Distilling

Presenting Sponsor Moss Properties Lead Sponsor R & H Construction Supporting Sponsor Becker Capital Management Business Sponsor Advanced Alarm Systems Hansen Hunter & Co. PC LRS Architects, Inc. Orrick Herrington Sutcliff LLP

Event Sponsors and In-Kind Donors

Event Patrons D. Elizabeth Reid Allyn and Patricia Rieke Katherine “Kate” Robinson Nan Jean Roller Rose Rustin Carolyn Savage Brenda Ray Scott Mary Lou Stewart Marjorie Wazeka Sabine Wild Bill Wilson John and B.J. Wittwer Rod and Carol Woodworth Bob and Evelyn Wulf

(left to right) Plaza Members Anita Cobb,

Carole Lacampagne, Lee Hascall, and Dorothy Johnson

(left to right) Plaza Board Chair Scott Philips

and Plaza Resident Council Chair Joanne Rannells

Gifts Received January 1 - December 31, 2015

PA G E 8

In Memory of Elizabeth Asbury *Diane Gibson In Memory of Ruth Barbour *Diane Gibson In Memory of Ruth Becker *Diane Gibson In Memory of George Bingham Don and Edythe Barr *Diane Gibson In Memory of Ruth Chapin Anonymous James R. Blackaby *Irene Etlinger *Diane Gibson *Elisabeth Linder *Lillian McDowell In Memory of John A. Crampton Anonymous In Memory of Richard Dana *Diane Gibson In Memory of Maxine Dereiko *Diane Gibson In Memory of Marge Elkins *Diane Gibson In Memory of John Fillmore Don and Edythe Barr *Diane Gibson In Memory of Don Frisbee *Diane Gibson

In Memory of Charles Frischmann Don and Edythe Barr *Diane Gibson In Memory of Imogene Huffine *Diane Gibson *Carolyn Savage In Memory of Joyce Hulse *Diane Gibson *Charles Lutton In Memory of Rosalie Humphrey *Diane Gibson *Carolyn Savage In Memory of Helen Ingram *Diane Gibson In Memory of Carole Katz *Diane Gibson Third Floor Members of the Tower In Memory of Louis Kaufman *Diane Gibson Seventh Floor Members In Memory of Becky Koch *Diane Gibson In Memory of Anne Kronenberg *Diane Gibson Third Floor Members of the Tower In Memory of Shirley Kuse *Diane Gibson In Memory of Christina Laing *Diane Gibson

In Memory of Betty Lindsay Don and Edythe Barr *Irene Etlinger *Al Goudy *Diane Gibson Charles Lutton Frances Ousley In Memory of June Martel *Diane Gibson In Memory of Farley Maxwell *Diane Gibson In Memory of Hannah May *Irene Etlinger *Diane Gibson Harley and Ulla Sachs Carolyn Savage In Memory of Beverly Partridge John Partridge In Memory of Peter Paul *Diane Gibson In Memory of Phyllis Pratt *Diane Gibson In Memory of Ralph Pratt *Diane Gibson *Charles Lutton In Memory of Marilyn Schuberg *Diane Gibson Al and Patricia Rieke Carrie Saito In Memory of Eleanor Schwabe *Diane Gibson

In Honor of Our 50th Wedding Anniversary *Joseph and Misako Allerdice In Honor of John and Mary Dimond Wedding Anniversary Bill and Barbara Leighton In Honor of Joyce Hulse *Carrie Saito

*Lesta Hoel Current Needs

General Gifts to the Fund Anonymous James R. Blackaby Bill and Betty Guyer Harold and Elizabeth Hinds Carole Katz Bert Shafer

Foundation 2015 Donor Awards

2015 Donors of the Year Joseph and Misako Allerdice

Donors of the Year

2015 Spirit of Giving Award D. Elizabeth “Beth” Reid

Each year, the Terwilliger Plaza Foundation presents two awards to select donors: Spirit of Giving and Donor of the Year. The awards were presented by Foundation Board President Mary Ellen Higgins and Foundation Executive Director Brenda Ray Scott on April 14, 2016 to Members gathered for the CEO’s Forum and their photos added to the perpetual listing of these award winners that appears as part of the Donor Wall display at Terwilliger Plaza.

In Memory of Maxine Selberg *Diane Gibson *Carolyn Savage In Memory of Mable Stephens *Diane Gibson In Memory of James Stewart Fourth Floor Members of the Tower In Memory of John Wild *Diane Gibson In Memory of Ruth Ann Wilson *Diane Gibson In Memory of Arnold Wolpin *Diane Gibson Fourth Floor Members of the Tower In Memory of Elizabeth Wylie *Diane Gibson In Memory of Tom Wright Harley and Ulla Sachs

Lesta Hoel Current Needs Judith Kretzmann Ann Neuman Dr. Marie U. Nylen Nancy Rilling Marvin and Nancy Weinstein

Gifts in Honor

Gifts in Memory

Lesta Hoel Memorial Trust Fund 2015 Annual Report

PA G E 9

Unaudited Balance Sheet


2 0 1 5 A N N U A L R E P O R T

Year Ended Year Ended

12/31/15 12/31/14

Assets

Cash in bank $ 118,975 $ 85,074 Total Checking/Savings $ 118,975 $ 85,074

Accounts Receivable - Due from Foundation 1,600 31,545 Gift Annuity Receivable 7,906 9,057 Investments - at market value Fixed Income Investments 1,218,141 1.315.579 Equity Investments 1,020,997 1,172,295 Held at Oregon Community Foundation 637,014 690,919

Total Investments $ 2,876,152 $ 3,178,793

TOTAL ASSETS $ 3,004,633 3,304,469

Liabilities & Net Assets Member Subsidy to Terwilliger Plaza $ 18,175 $ 13,964 Total Liabilities 18,175 13,964

Net assets Temp Restricted - Accumulated Earnings $ (61,520) $ 191,882 Perm Restricted - Endowment - Board Designated - 55,357 Perm Restricted - Endowment - Donor Restricted 3,047,978 3,043,266

Total net assets 2,986,458 3,290,505

Total liabilities and net assets $ 3,004,633 $ 3,304,469

Lesta Hoel Memorial Trust Fund (LHMTF) is a separate 501(c)(3) not-for-profit sup-porting Terwilliger Plaza. The Fund was established in 1967 by Lesta Hoel, a visionary and leader of Terwilliger Plaza and the Fund’s namesake, and funded by bequests from others in subsequent years. The LHMTF is managed by a Board of Trustees des-ignated by the Fund to be Terwilliger Plaza’s Board of Directors. The earnings from this Trust provide support to Members who outlive or other-wise exhaust their financial resources so they will not have to leave Terwilliger Plaza. The financial information provided here is a summary of the 2015 and 2014 unaudited financial statements.

Lesta Hoel

Lesta Hoel Memorial Trust Fund 2015 Annual Report

Unaudited Statement of Activities and Changes in Net Assets


PA G E 1 0 Lesta Hoel Memorial Trust Fund 2015 Annual Report

Temporarily Permanently Year Ended Year Ended

Restricted Restricted 12/31/15 12/31/14

Revenues and Gains

Contributions & Bequests $ 28,210 $ 5,863 $ 34,073 $ 41,745

Bequests - - - 69,819

Gift Annuities - Current Year Present Value Adjustments (1,151) (1,151) 367

Gift Annuities - Current Year - - - -

Interest and Dividend Income 55,398 - 55,398 56,920

Less Investment Fees (16,953) - (16,953) (18,710)

Realized gains (losses) on investments (14,836) - (14,836) 119,511

Unrealized gains (losses) on investments (129,296) - (129,296) 4,838

Transfer Board designated endowment 55,537 (55,537) - -

Total revenues and gains $ (19,120) (50,645) $ (69,765) $ 274,490

Expenses and Losses Subsidy paid to Terwilliger Plaza for benefit of Plaza members $ 232,510 - $ 232,510 $ 155,048

Administrative Expenses 1,772 - $ 1,772 1,954

Total expenses and losses $ 234,282 - $ 234,282 $ 157,002

Change in net assets $ (253,402) $ (50,645) $ (304,047) $ 117,488

Net assets, beginning of year $ 191,882 3,098,623 $ 3,290,505 $ 3,173,017

Net assets, end of year $ (61,520) 3,047,978 $ 2,986,458 $ 3,290,505

In 2015, $232,510 was contributed by the Lesta Hoel Fund to Terwilliger Plaza, Inc. to help subsidize Members who were unable to pay due to exhausted resources. As of December 31, 2015, there were five Plaza Members for whom the Lesta Hoel Memorial Trust Fund was partially supporting Terwilliger Plaza for subsidized fees. In addition, the Fund subsidized some additional in-home services for one of these Members. The number of Plaza Members receiv-ing support from this subsidy can fluctuate as Members pass away and no longer need the support. The Fund’s ability to contribute in providing this subsidy is an important part of Lesta Hoel and ultimately Terwilliger Plaza’s legacy.

Lesta Hoel Fund Contribution to Member Subsidy

Gifts can be made via cash, check, vehicle donation, gift of stock, charitable gift annuity, or bequest. Gifts may be made in memory of a loved one or friend who has passed away or given to celebrate a birthday, anniversary, or a special occasion or accomplishment. Please remember the Terwilliger Plaza Foundation in your estate as a part of your legacy.

Executive Director:

Brenda Ray Scott, CFRE

During 2015, the Foundation made grants to Terwilliger Plaza for several projects and equipment purchases. Highlights include The photo on the front cover of this report showcases Plaza Member Bill Wilson giving a presentation on his basketmaking career. In August, 2015, a new 3-Dimensional Display Unit was dedicated with its first exhibit consisting of baskets contributed by Bill Wilson. Project Lead-er Diane Pinney described the collaborative work of herself, the WoodWorks committee, and Member Robert Olsen in designing and building a unit to exhibit what the team hopes is the first of many collections exhibited in that space. In September, 2015, the newly renovated Roof Top Patio at Terwil-liger Plaza. This grant was the Foundation’s largest and funded by the Jim Longwood Fund created through the estate of Guin Hall. Our thanks to the Members and staff teams for their contributions to the successful completion of these projects and many more.


Making a gift

Grantmaking: The Impact of Your Gifts in 2015

Terwilliger Plaza Foundation has one mission with two objectives: To fund projects and facility improvements that enhance the quality of retirement living for all Terwilliger Plaza Members; and To support the Lesta Hoel Memorial Trust Fund, which assists Members who might otherwise have to leave the Plaza

due to financial hardship.

2015 Board of Directors The Board of Directors is made up of five to nine Directors including Members who live at the Plaza and those who live outside the Plaza. Directors may serve a maximum of two three-year terms. The election of officers takes place at the Foundation’s March Annual meeting with appointment of new directors taking place throughout the year. The Board re-views financial reports and determines policies specific to fulfilling the Foundation's purpose and also makes grants to sup-port the Terwilliger Plaza community. At the Foundation’s annual meeting, the officers were elected.

Officers Mary Ellen Higgins, President Byron Dougan, Vice President Lynn Manuel, Secretary Bill Knodell, Treasurer

Directors Stan Baumhofer Tom Gavin Harmon P.W. Laurin D. Elizabeth Reid

Phone: 503-808-7884

E-mail: [email protected]

Ex-Officio Dee Sellner Terwilliger Plaza

President and CEO Diane Gibson Terwilliger Plaza

Acting President and CEO

2545 SW Terwilliger Blvd.

Portland, OR 97201

Highlights Roof Top Garden $173,600 My Wellness Software $10,282 Elliptical Machine $6,623 3-Dimensional Art Display $2,500 Classical Music Concerts $900 Other grants $ 2,946 Total $196,851

These projects are tangible reminders of the Foundation’s impact on the Plaza community. Highlights of the grantmak-ing appear in the table to the right. The Foundation funded $196,851 of projects directly benefiting the Terwilliger Plaza community.

terwilliger plaza foundation, inc. · the terwilliger plaza foundation conducted an independent...

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