Oaks Foundation at Copeland has record-setting year

By JACK R. WEBER Jr.

The Review

SEBRING -- When a resident at Copeland Oaks or Crandall Health and Rehabilitation Center goes to sleep at night, there's no need for him or her to worry about financial resources running out.

That's because the not-for-profit continuum of care retirement community operates with a safety net for residents through its life care fund.

That web of security got a bit wider this year as The Oaks Foundation, which exists solely to encourage philanthropy and Christian stewardship to benefit the residents of Copeland Oaks and Crandall, is celebrating a historic fiscal performance after raising a record $1,913,817 this year.

That figure more than doubled the 2006 total and nearly doubled its previous best year on record.

"We thought 2006 was a great year and then we turn around and have the year we just had," said Oaks Foundation Administrator Matthew Stinson. "There were a lot of different factors for that. People are starting to understand our mission and the unique care we provide for our residents. People are taking the time to include charitable organizations in their estate planning. Plus we had some great fundraisers. Anything that could have gone right for us did last year."

Of the nearly $2 million raised, 56 percent or $1,060,257 came from planned and estate giving. That figure was larger in itself than the best year the foundation had ever had previously.

"There are a lot of people out there that want to help others and feel that they are making a difference," said Stinson.

Another 19 percent was generated through investments and 18 percent through annual/major giving, while 7 percent ($141,060) was received in the form of grants.

"Grants are an area we didn't even have income sources from two years ago," said Stinson, praising the efforts of Lisa Hines, who is responsible for finding funding through grants.

Hines and Stinson are also assisted by Angie Marvin as well as Donald Swegan, an 11-year Copeland Oaks resident and part-time associate with the foundation who spent his career in development and planned giving.

"There is no possible way that we would be experiencing such success were it not for the hard work and dedication of Don, Lisa and Angie," said Stinson.

Of those funds, 33 percent ($634,338) will go toward capital, 19 percent ($369,208) will go toward investments, 11 percent ($214,615) will go toward endowment, and 3 percent ($62,215) was designated for project gifts, such as the new $1 million assisted living building that is being completed without any debt financing due to financial support through The Oaks Foundation.

However, the majority of the funds raised by the foundation in 2007 -- 34 percent or $633,442 -- will go directly to the life care fund.

"The life care fund is what really makes Copeland Oaks and Crandall unique," stressed Stinson.

Through the life care fund, residents of Copeland Oaks and Crandall who outlive their financial resources are able to remain in their current living situation and are not asked to move to a smaller apartment or different part of the facility because of financial reasons.

"There is a misconception everyone at Copeland Oaks is wealthy and that's just not true," continued Stinson. "We do have some wealthy folks, but that's not the typical resident in our community. These are people that worked hard their entire life, so it's great for there to be a safety net for those that for whatever reason would outlive their resources."

Last year, The Oaks Foundation provided over $1.3 million of charitable support to residents living in independent housing and assisted living. An additional $600,000 to $700,000 was used to offset the actual costs and what Medicaid reimburses at Crandall, a skilled nursing facility.

According to Stinson, about 10 percent of the 500 independent and assisted living residents get some form of support from the life care fund, while 60 percent of the 200 residents at Crandall receive some form of assistance from the fund.

"It's not uncommon at many facilities for residents who run out of financial resources to be pushed through the system and be placed in an area where Medicaid will reimburse," said Stinson. "The reality of most organizations is that's how they have to operate. At Copeland Oaks and Crandall, we are able to keep people living as independently as they can for as long as they can and we don't have to base medical care decisions on whether or not Medicaid will reimburse. That's a luxury we have because of the fund."

While it has become increasingly more difficult to operate that way because of the decreasing reimbursements from Medicaid, it has been offset by the generosity of donors.

"It's only because people are generous and because they believe in the mission of life care that the foundation is able to provide this unique support to our residents through the gifts that come in," added Stinson. "A vast majority of our independent living residents will never need to use the life care fund, but they can sleep easily at night knowing it's there."