Virginia Baptist Homes Foundation, Inc.
1900 Lauderdale Drive
Richmond VA 23238
Mission Statement
The mission of the VBH Foundation is to support the work and ministry of LifeSpire of Virginia (formerly Virginia Baptist Homes) by developing funds through solicitation of gifts, conducting capital campaigns and special events.
Leadership
CEO/Executive Director Mr. Jonathan R. Cook
Board Chair Mrs. Susan C. Rucker
Board Chair Company Affiliation Prospective Insights
Contact Information
Address 1900 Lauderdale Drive
Richmond, VA 23238
Telephone 804 521-9229
Fax 804 521-9204
E-mail pmorris@vbh.org
History and Background
Year of Incorporation 1989
Financial Summary
 
 
Projected Revenue $2,979,919.00
Projected Expenses $608,437.00
Additional Documents
Living & Giving Newsletter Spring2014View
Living & Giving Newsletter Summer2014View
Living & Giving Newsletter Fall2014View
Living & Giving Newsletter Spring2013View
Living & Giving Newsletter Winter2013View
Annual Report2013View
Living & Giving Newsletter Winter2012View
Living & Giving Newsletter Spring2012View
Living & Giving Newsletter Summer2012View
Living & Giving Newsletter Fall2012View
Annual Report2012View
Annual Report2011View
Statements
Mission
The mission of the VBH Foundation is to support the work and ministry of LifeSpire of Virginia (formerly Virginia Baptist Homes) by developing funds through solicitation of gifts, conducting capital campaigns and special events.
Impact
The VBH Foundation raises money to provide financial assistance to residents who have outlived their financial resources. More than $1 million in support was provided to 60 residents during 2015.  The benevolent ministry of LifeSpire ensures that seniors are able to enjoy the dignity of living in a comfortable, caring home through their elder years.  In our 65+ year history, no resident has ever been asked to leave if, through no fault of their own, they have outlived their financial resources.
Needs
Our greatest need is for annual and endowment support for our benevolent ministry.  In total, we provide over $1,000,000 in financial assistance each year.  Due to longer life expectancies and lower investment rates, we know that many residents' resources are not going to be adequate to pay for their care.
Background

The Virginia Baptist Homes, located in Culpeper, Newport News, Richmond and Roanoke, are a reality today largely as a result of the wisdom and determination of Dr. James Thomas Edwards. A native of Crawfordville, Georgia, he became pastor of the Culpeper Baptist Church in 1931. While serving in this capacity, he became increasingly aware of the responsibility of Virginia Baptists to care for their senior adults. The creation of a charter to establish the Baptist Home for Aged was approved unanimously in 1945 by the Baptist General Association membership. 

The first home was built in Culpeper in 1950, and in April, 1951 the first residents moved into the new home. By 1963, several additions were added and in 1964 seventeen single family cottages were built on the property. Throughout its existence, LifeSpire had been unable to accept numerous qualified applicants because of the lack of space. In 1966, the General Association decided to build a second home in the city of Newport News and it opened in 1969.   

Because the Culpeper Home is located in one of the most fertile farming sections of the state, the trustees saw the wisdom of acquiring additional acreage in order to raise food for the residents. In 1954, Kinloch, a 200-acre farm situated across U.S. Route 15 from the home, was purchased. In 1975, the Homes acquired 253 additional acres that were added to the Kinloch Farm operation.

Lakewood Manor was added to the Lifespire family in the spring of 1974
with 27 acres on Lauderdale Drive in Henrico County. Albert E. Simms, former pastor of Rivermont Avenue Baptist Church, Lynchburg, assumed his duties as administrator of Lakewood Manor. In August, 1978, the Board of the Homes completed a merger with the Baptist Home for Ladies of Richmond and residents of the Baptist Home for Ladies moved to Lakewood Manor. 

Since 1977, various members of the Board and the executive staff of the Homes have been involved in conversations involving the eventual establishment of a home in southwest Virginia. In 1998, The Glebe was established and it opened in 2005 in Daleville, Virginia, just north of Roanoke. 

Today, approximately 1,100 seniors reside in the four homes that operate as Continuing Care Retirement Communities providing guaranteed lifetime care with independent and assisted living, health care and memory support units.
CEO Statement

The funds that we raise help eligible residents who outlive their financial resources needed to cover the cost of their care.  During 2015, VBH awarded more than $1 million in benevolent assistance to 601 residents.

Board Chair Statement
Fiscal responsibility, transparency and accountability are the primary concerns of our Board of Trustees.  We operate our communities and our corporation with high ethical and operational standards as well as sound business practices.
Areas of Service
Areas Served
Area
Statewide
Lifespire of Virginia operates four communities:
The Chesapeake in Newport News
The Culpeper in Culpeper
The Glebe in Daleville
Lakewood in Richmond
Board Chair
Board Chair Mrs. Susan C. Rucker
Company Affiliation Prospective Insights
Term Jan 2017 to Dec 2019
Email susanrucker1@verizon.net
Board of Directors
Board Members
NameAffiliation
Rev. Herbert (Bert) Browning Minister, Retired
Rev. Daniel Carlton Culpeper Baptist Church
Mr. R. Scott Cave Retired, Anthem
Mr. LeBron J. Holden Administrator, First Church
Mr. Craig Hopson Esq.Hopson, Habenicht and Cave
Mr. Michael E. Keck Xenith Bank
Mr. John T. King Retired, Bank of America
Mr. Robert L. Musick Jr.Community Volunteer
Mr. Sammy Oakey Oakey Funeral Services
Mr. Arne W. Owens Public & Government Relations Consultant
Mrs. Susan C. Rucker Community Volunteer
Mr. J. Matthew Scott MCV Physicians
Mr. Michael Smith LDK Products
Mr. Thomas Edward (Ned) Stephenson Community Volunteer
Mr. Joseph Teefey VCU Dept. Medical Assistance Services
Mr. Charles Tysinger Owner, McTaft, Inc.
Mr. J. Robert Yeaman III, EsqButton, Yeaman & Associates, PC
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 17
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 16
Female 1
Governance
Board Term Lengths 4
Board Term Limits 2
Board Meeting Attendance % 88
Written Board Selection Criteria? Under Development
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 4
Standing Committees
Audit
Finance
Investment
Nominating
Marketing
Strategic Planning / Strategic Direction
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Comments
Our primary challenge is to continue meeting our spotless record of providing financial assistance to all current and future residents who need our help.  We are increasing our annual and endowment fundraising activities to ensure that we will be able to meet that challenge today and in the future. 
 
Opportunities exist to meet the nontraditional needs of the Boomer generation, some of whom are just now thinking about what kind of life they foresee in their retirement. We are exploring adjustments to our business model from campus-based continuing care to a planned services community model that includes a "senior concierge" approach for assessment services, in-home care and other services outside of our campus.  We are updating our strategic plan to address these challenges and opportunities to make our business age-ready.  It will be completed and implementation begun in the 2016 fiscal (calendar) year.
Executive Director
Executive Director Mr. Jonathan R. Cook
Experience

Jonathan Cook joined LifeSpire on December 3, 2014. He has over 19 years of experience in the senior living/elder care field, including experience in
multi-site continuing care retirement communities Mr. Cook was most recently at Life Care Services, LLC, where in his tenure he has served as both Executive
Director and in the regional position of Director of Operations Management. Prior to joining Life Care Services LLC, Jonathan served for close to a decade
with Lutheran Homes of South Carolina as Executive Director of Franke at Seaside, a CCRC in Mt. Pleasant, SC . He is a graduate of The Richard Stockton College of New Jersey and is a licensed Nursing Home Administrator in North Carolina and South Carolina.

Jonathan has served numerous industry and local organizations such as South Carolina Association of non-for-profit homes, Indiana Leading Age;
Treasurer, Low Country Chapter of the Alzheimer’s Association and Local Exchange clubs. Jonathan has frequently presented at local and national
symposiums on operational challenges, marketing programs, CCRC development and CCRC expansions.

Senior Staff
NameTitle
Ms. Patricia S. Morris ,MPA, CFREVice-President
Staff
Full Time Staff 3
Part Time Staff 0
Volunteers 25
Retention Rate 100
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 5
Management Succession Plan? Under Development
Organization Policy and Procedures Yes
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
Programs
Description
Providing financial assistance to provide continuing care to VBH residents who have outlived their resources
Population Served Aging, Elderly, Senior Citizens
Budget $1,000,000.00
Short Term Success
In spite of the economy, we have been able to meet the financial challege of providing financial assistance for the past few years.  We expect to continue meeting the challenge and are actively raising funds through annual and planned giving activities.
Long Term Success
We want to continue being able to offer peace of mind and security to our residents.  In our 70+ year history, we have never asked a resident to leave due to financial hardships beyond their control.  We are committed to meeting that challenge even as the average lifetime of our residents rises.
Fiscal Year
Projected Revenue $2,979,919.00
Projected Expenses $608,437.00
Endowment Value $19,178,530.00
Spending Policy Income Only
Percentage (if selected) 5
Form 990s
IRS Letter of Exemption
Detailed Financials
Expense Allocation
Fiscal Year201520142013
Program Expense$413,455$488,614$910,353
Administration Expense$231,865$5,365$221,761
Fundraising Expense$0----
Payments to Affiliates------
Total Revenue/Total Expenses1.381.081.31
Program Expense/Total Expenses64%99%80%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$6,151,868$5,614,862$5,440,438
Current Assets$1,998,263$3,656,122$3,457,972
Long-Term Liabilities$663,998$602,152$713,619
Current Liabilities$1,969,420$1,539,825$1,445,841
Total Net Assets$3,518,450$3,472,885$3,280,978
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities1.012.372.39
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets11%11%13%
Capital Campaign
Currently in a Capital Campaign? Yes
Goal $5,000,000.00
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit Application 1/2017View
Comments
Organization Comments We report the total amount raised that come through the Foundation, the Corporate office and all four communities.  All fundraising expenses are posted through the Foundation and include projected indirect costs of $170,900 for 2016 - this includes $152,700 projected gift annuity payments to donors.
Foundation Comments
  • Financial analysis performed with Form 990.  Supplemental information provided by audit.
  • Form 990 represents the financial position of Virginia Baptist Homes Foundation.
  • Audit represents the combined financial position of Virginia Baptist Homes, Inc. and its subsidiaries, including the Foundation.