Author: Elizabeth Newport

Every year, the Virginia Baptist Homes Foundation raises over a million dollars to benefit seniors in all of our communities, thanks to those committed to taking care of residents who need assistance.  Donors to the Benevolent Fund provide security and peace of mind to residents who, through no fault of their own, need additional financial resources for their care and stay.  Last year, 43 residents were provided with benevolent support. 

Supporting the Benevolent Fund in your community helps residents like George and Susan.  They moved into their community after a lifetime well spent serving their church in leadership roles.  As LifeSpire residents for over a decade, they are even more certain of their good decision to live at LifeSpire.  Along the way, they realized it would be necessary to request financial assistance through the Benevolent Fund.  The Virginia Baptist Homes Foundation stepped in to provide the support they needed.

“We will always be grateful for that.”

Your gift to the Benevolent Fund will put the “love” in Benevolence and support residents like George and Susan.  Help us continue this tradition with a gift to your community’s Benevolent Fund through the VBH Foundation.  Gifts can be made securely online at https://lifespireliving.org/fall-2024-giving/ or you can give us a call at 804-521-9213.

2024 Scholarship Recipients

LifeSpire of Virginia and the Virginia Baptist Homes (VBH) Foundation are pleased to announce the 2024 scholarship recipients. A total of $35,000 was awarded to 43 eligible individuals. The scholarships are funded by the Employee Education Fund. 

The fund provides financial assistance for team members towards two- and four-year higher education degrees. Support is awarded with grants for college-bound team members, and their children and grandchildren. 

The VBH Foundation’s Employee Education Fund provides awards on an annual basis. The fund relies on the generosity of donors for sustainability. The LifeSpire team is grateful for the kindness of residents, families and colleagues who give to the Foundation to assist team members financially with scholarships and crisis awards. To learn more about the programs providing support to team members, visit https://lifespireliving.org/give/employee-support/ 

Lakewood:

Name	Department	School
Ciara Barnes	Healthcare	Virginia Commonwealth University
Emma Bell	Resident Services	Virginia Commonwealth University
Austin Burks	Dining	Kent State University
Maryam Chowdhury	Dining	James Madison University
Elizabeth Duffey	Dining	University of Delaware
Lexi Dull	Child of Amy Curry (Marketing)	Longwood University
Sky Evans	Dining	Virginia Commonwealth University
Karolin Fekry	Healthcare	Virginia Commonwealth University
Krista Goodnight	Dining	James Madison University
Julie Hahn	Dining	Auburn University
Anthony Lewis	Child of Vermita Lewis (Nursing)	Radford University
Divine Mills	Healthcare	Virginia Union University
Snehitha Ravilla	Dining	Virginia Tech University
Saidi Katende	Healthcare	Western Governors University
Shartan Smyre	Assisted Living	Galen College
Jayla Spindle	Child of Stephania Jones (Nursing)	Tennessee State University
Xavier Spindle	Child of Stephania Jones (Nursing)	Norfolk State University
Jannie Torrico	Healthcare	Virginia Tech University
Rizvan Vahora	Child of Hamidaben Vahora (Housekeeping)	Humber College
Ava Brown	Dining	James Madison University
Cadence Goodnight	Dining	Old Dominion University
Mikala McGehee	Dining	Virginia Tech University
Caroline Sampson	Assisted Living	University of Mary Washington

The Chesapeake:

Name	Department	School
Oluwaseyi Adepoju	Child of Uzoamaka Adepoju (Assisted Living)	Virginia Commonwealth University
Oluwapelumi (Victor) Adepoju	Child of Uzoamaka Adepoju (Assisted Living)	Virginia Commonwealth University
Oluwafemi Adepoju	Dining	Virginia Commonwealth University
Sylvia Cheatham	Healthcare	Old Dominion University
Erma Finley	Nursing	Bryant and Stratton College
Robert Holihan IV	Grandchild of Patricia Paschall (CNA Transporter)	Hampden-Sydney
Latoya Turner	Healthcare	Walden University

The Glebe:

Name	Department	School
Eden Finup	Assisted Living	Radford University Carilion
Noah Glenn	Dining	University of Charleston
Bethany Laymon	Child of Darlene Martin (Transportation)	James Madison University
Aniyah Johnson	Dining	University of Alabama
Brennan Corell	Dining	Liberty University
Heather Roberts	Healthcare	Radford University Carilion

The Summit:

Name	Department	School
Ryenne Flood	Child of Marjetta Flood (Assisted Living)	Shenandoah University

The Culpeper:

Name	Department	School
Kelly Bennett	Healthcare	Germanna Community College
Madison Callahan	Healthcare	Germanna Community College
Alayzia Robinson	Child of Celeste Lee (Assisted Living)	Germanna Community College
Zana Tibbs	Child of Tanya Tibbs (Memory Support)	Virginia Commonwealth University
Zaria Tibbs	Child of Tanya Tibbs (Memory Support)	Virginia State University
Teresa Lewis	Nursing	Liberty University

Did you know that August is National Make-A-Will month? Use this annual reminder to make or review your last will and testament. Here are three great reasons to do this today:

1. It’s an important legal document that everyone should have.

All adults should have a will. It’s a powerful document that lets you distribute your property according to your wishes and it protects your loved ones after you pass away. Only one-third of all American adults have a will, are you part of that third?

2. It provides peace of mind for you and your family.

Creating a will prevents family conflict, eliminates confusion, and ensures your assets go to the people you most want to have them. It also gives your family guidance and reassurance that they can fulfill your wishes during what is likely a very difficult time for them. With a will, you can also plan for those who are in your care, even for your pets! The logistical benefits of having a will are important. But above all else, having a will creates peace of mind for you and the people you love.

3. It lets you create a legacy that lasts beyond your lifetime.

There are many different ways you can use your will to benefit a charity, such as your community or the VBH Foundation. You can give cash, stock, real estate property, and more. Leaving a gift in your will costs you nothing during your lifetime but will ensure that you can make a positive impact on causes close to your heart for years to come.

Already made your will? This month, take a few minutes to look it over and make sure it’s up to date with your current preferences. Life brings changes – it’s important that your will reflects those changes, too. Visit https://vbh.planmylegacy.org/ for estate planning resources, including sample language for your will, a Guide to Making Your Will, and a Personal Estate Planning Kit. If you have chosen to extend your donation to the Foundation by including us in your will, thank you! Please let us know so that we can welcome you into a special group of supporters. Contact Jodi Leonard in the Foundation at 804-521-9213.

Naming a loved one or a favorite nonprofit in your estate plans or as a beneficiary of a life insurance policy or retirement plan assets is a heartfelt way to make a lasting impact. Go one step further and tell those beneficiaries about the choices you’ve made.

Many people and charities aren’t aware that they have been named to receive a gift. Informing them helps preserve your intentions and ensures that your beneficiaries are able to follow your wishes.

Protect the people and causes you love by following these simple steps:

1. Review your beneficiary designations periodically. Life changes and so might your decisions about who should receive your assets.

2. Alert your beneficiaries that you have a life insurance policy or have named them in your will or as a beneficiary of a retirement plan.

3. Share the location and details of the policy or plan with them.

As you update your beneficiary designations, consider making a gift of a life insurance policy or retirement plan to a LifeSpire of Virginia community so that we can continue our mission of providing for seniors in need. Then notify us of your decision so that we can carry out your wishes as intended and thank you for your gift.

We Want to Hear From You

If you have already named a LifeSpire of Virginia community or the Virginia Baptist Homes Foundation in your estate plans or as a beneficiary of a life insurance policy or retirement plan assets, please contact us at (804) 521-9213 or email [email protected] today. If you are still creating your estate plan, we would be happy to answer any questions you may have about making this type of gift. For more information visit https://vbh.planmylegacy.org/beneficiary-designations

Content courtesy of Stelter – our partner in Legacy Giving

It’s the best time in a long time to consider the gift that pays you: a charitable gift annuity.

Payout rates went up again January 1, 2024, and are higher than they have been in 16 years. Seize the moment by considering this amazing gift that provides you with stable, regular income—regardless of the economy.

After your lifetime, the remaining amount becomes part of your legacy at the Virginia Baptist Homes Foundation, allowing us to thrive far into the future.

How It Works

With a gift annuity, you make a donation using cash, marketable securities or other assets, and we, in turn, pay you a fixed amount for life. You’ll receive reliable, predictable payments for your lifetime (and the lifetime of a loved one, if you choose).

For Example

Barbara, 72, transfers $25,000 in exchange for a charitable gift annuity. She will receive annual payments of $1,650, a rate of 6.6%.

Gift Annuity Rate Charts

One Recipient

Age	Annuity Rate
70	6.3%
75	7.0%
80	8.1%
85	9.1%
90+	10.1%

Two Recipients

Age	Annuity Rate
70/75	5.8%
75/80	6.5%
80/85	7.3%
85/90	8.7%
90/95+	9.9%

Additional Benefits

With this gift, you’ll also enjoy:

• A partial income tax charitable deduction for your gift when you itemize.
• Part of each payment being income tax-free throughout your estimated life expectancy.

Tip: You Have Funding Options

Give Appreciated Assets

Funding a gift annuity with appreciated assets, such as securities, will not only provide you with reliable payments for life and allow you to support our work, but it can offer financial benefits. You will receive a federal income tax charitable deduction (when you itemize) in the year the gift is made and eliminate part of the capital gains tax you would have paid if selling the securities. And if you have stocks that produce low-yield dividends, you may be able to increase your income.

Give From Your IRA

If you are 70½ or older, you can make a one-time election for a qualified charitable distribution of up to $53,000 (without being taxed) from your IRA to fund a gift annuity (special rules apply with this option).

Request Your Personalized Example

We would be happy to send you a free, no-obligation calculation showing you the increased benefits you can receive from a gift annuity. Your personalized calculation will include your potential income tax charitable deduction and our annual payments to you for life. Contact Jodi Leonard at (804) 521-9213 or [email protected] to create your own legacy, or visit https://vbh.planmylegacy.org/charitable-gift-annuities to learn more and calculate your benefits by inputting a few details.

This year’s holiday greeting features ‘Winter Cardinals’ created by Mary Kent, a resident at Lakewood since 2019. 

Mary discovered the fun of making art as a child at Patrick Henry Elementary School in Richmond and has been drawing and painting pictures ever since. After taking many art classes in high school and college, she pursued a lengthy career in business and banking, and found very little time for her creative outlet. Upon retiring in 2000, Mary decided to try something she had always wanted to do – she took up watercolors and fell in love with the medium. She has studied with many prominent Richmond artists and has participated in workshops around Virginia, the Southeastern United States and further afield in California and in Greece.

Mary drew much of her early inspiration from the Virginia landscape and particularly enjoyed painting in outdoor locations such as Maymont Park, Forest Hill Park and Lewis Ginter Botanical Garden. Soon after, she started taking her paintbox along on her travels to create sketches and studies of her favorite vacation spots. More recently, Mary has begun incorporating people and pets into her artwork, and is having fun exploring a medium that is new to her – drawing with colored pencils.

A member of the James River Art League since 2005, Mary has served as President and held a number of positions on the Board. In 2019 she was the recipient of their William H. Youngblood award for service. Mary currently teaches watercolor classes at Lakewood and takes great pleasure in sharing her joy of painting with others.

During this season of thanks and reflection, we are especially grateful for our LifeSpire of Virginia family. Your warm-hearted compassion makes you an integral part of our communities. Thank you for being our partner in helping seniors live purposefully in a loving environment.

If the end of this year finds you feeling blessed and inspired to give back, we want you to know that

you still have time to help provide seniors with a fulfilling and worry-free lifestyle.

A gift to the Virginia Baptist Homes (VBH) Foundation in 2023 means you may also receive tax benefits. Consider our four great gift ideas that help create vibrant living where faith, wellness and community flourish.

Read about those options HERE or reach out to Jodi Leonard, Vice President of the VBH Foundation at (804) 521-9213.

An IRA is an appealing way to save for retirement: Make a contribution and enjoy tax savings. But eventually, the tax bill comes due—when you take your annual distributions and again when you leave your assets to heirs. If you want to avoid the tax bite and make an impact on our mission, consider a gift to  the Virginia Baptist Homes Foundation (VBHF) or a LifeSpire of Virginia community.  

1. Make Your Gift Today

If you’re 70½ or older, you can make a tax-free gift (up to $100,000 in 2023) to support our benevolent mission.  Benefits include:

• See the difference you’re making today. 
• Pay no income taxes on the gift. The transfer doesn’t generate taxable income or a tax deduction.

If you are required to take minimum distributions, your gift can satisfy all or part of your obligation.

2. Magnify Your Impact After Your Lifetime

You can name VBHF as a beneficiary of your retirement account. This is a great option for extending support from your IRA beyond your lifetime. It costs you nothing today.

Here’s how:

1. Contact your IRA administrator for a change-of-beneficiary form, or simply download a form from your provider’s website.
2. Name VBHF and the gift percentage on the form.
3. Let us know about your plans so we can thank you.

3. NEW OPTION: Create a Charitable Gift Annuity

If you are 70½ or older, you can now use your IRA to create a gift that pays you. Get fixed, reliable income for life by making a one-time election for a qualified charitable distribution of up to $50,000 (without being taxed on the distribution). Because this option comes with special rules, we’d be happy to discuss whether this gift is right for you.

Whether you make your impact at the Virginia Baptist Homes Foundation today or after your lifetime, your gift matters. Please contact Jodi Leonard at (804) 521-9213 or [email protected] to discuss your plans.  Additional information can be found on our website at https://vbh.planmylegacy.org/give-from-your-ira.

_{Information contained herein was accurate at the time of printing. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.}