Current Annual Report - Retirement Housing Foundation

On A National Scale• Brian Magnone continues to serve on the Board ofCHHSM and Cheryl Howell on the Nominating Committee.• Robert Amberg serves on the LeadingAge CaliforniaLegal Committee and the Nonprofit OrganizationsCommittee of the Association of Corporate Counsel,the LeadingAge Legal Committee, and CHHSM’s 75thAnniversary Committee. Deborah Stouff serves on theAdvisory Committee of the Southern California Chapterof the Society of Corporate Secretaries and GovernanceProfessionals. Stephanie Titus continued to serve asPresident of the Inland Empire Chapter of the Associationof Fundraising Professionals. She was also recertifiedas a Certified Fundraising Executive, a designation heldby 5,400 professionals internationally. I serve on theLeadingAge California Public Policy Committee.• Frank Rossello and I continue to serve on the boardof the National Affordable Housing Trust (NAHT) andI chair the board. In 1986 RHF and National ChurchResidences formed this nonprofit organization withthe mission of preserving and developing affordablehousing. NAHT was the first nonprofit syndicator inthe nation. Since then Volunteers of America, MercyHousing, and the Evangelical Good Samaritan Societyhave become members. Since its beginning, NAHThas preserved or developed close to 19,000 units ofaffordable housing in 184 properties, and has assisted inraising over $880 million of tax credit equity. They haveprovided equity from Alaska to Florida and Puerto Rico,and from Washington, DC to California and many statesin between. In 2012 they enjoyed their most successfulyear ever.• RHF received $224,053 in financial gifts and ourcommunities received $192,292, as well as in-kind giftsfor a total of over $416,345. Like many nonprofits,RHF and its communities have felt the economic impactof more organizations competing for fewer philanthropicdollars. We continue to be registered in all states wherewe solicit funds.• In July we completed construction and opened CollegeVillas for occupancy, a 226-unit senior community inHenderson, Nevada.• In February, 2012, we began construction of Lane Manor,a 54-unit senior community in Stone Mountain, Georgia,and a groundbreaking ceremony took place in March.8• In 2004 RHF’s former outside counsel, Bill Kelly andmajor nonprofit affordable housing members came togetherto form Stewards of Affordable Housing for the Future(SAHF) to promote and advocate for national housingpolicies which preserve and expand the supply of affordablerental housing.In addition to RHF, the members today are EvangelicalLutheran Good Samaritan Society, Homes for America,Mercy Housing, National Church Residences, NationalAffordable Housing Trust, NHP Foundation, NHT/EnterprisePreservation Corporation, Preservation of AffordableHousing, The Community Builders, and Volunteers ofAmerica. Together, SAHF members own and operatehousing in 49 states, the District of Columbia, PuertoRico, and the U.S. Virgin Islands – providing homes tonearly 100,000 low-income households.SAHF is called upon by members of Congress, theBipartisan Policy Center, and HUD to comment on ournation’s housing policy, and we have met with HUDSecretary Shaun Donovan and Assistant Secretary CarolGalante on several occasions to discuss possible changesto the nation’s affordable subsidy programs.At SAHF’s initiative, we have also had the privilege ofmeeting with senior White House staff and on a regularbasis with a select group of State Housing Finance Directors.Frank Rossello and I serve on the Board of Directors.• We continue to recognize Caring Communities as avaluable provider of liability insurance protection and riskmanagement services to RHF. As an original member, RHFhas participated as an owner and policyholder for 11 yearsand, as a result, we have benefitted by receiving cumulativedividend distributions amounting to $6.2 million. Wecontinue to credit these dividends to our properties basedupon their respective share of premiums paid and theirloss experience. Membership in Caring Communitiescontinues to grow by appealing to the highest qualitynot-for-profit senior housing and care organizations acrossthe country. Currently there are 32 members. CaringCommunities has an “A- Excellent” rating from A.M.Best,the leading rating agency for the insurance industry.Robert Amberg and I continue to serve on the Board ofDirectors. Robert serves on the Claims Committee and Iserve on the Underwriting Committee.(Continue on page 10)