Capital
Campaign
The Capital Campaign
of Friends Village at Woodstown,
Today’s Vision
~ Tomorrow’s Mission
To
ensure the mission and viability of Friends Village, the Board
of Managers initiated a long-range, strategic planning process
in 1990. From the discovery of apparent needs of older adults in
Salem County, the Board developed a vision to turn Friends into
a life-care facility that could offer adults all of the programs
they will need as their need for assistance increases. The
expansion project of construction/renovation of 155,000 square
feet of new/existing space was developed to establish Friends
Village as a Continuing Care Retirement Community (CCRC). In
addition to the expansion project, Friends Village launched a
three-year capital campaign Today’s Vision ~ Tomorrow’s
Mission. A goal of $2,750,000 has been set and will be
earmarked for both bricks and mortar and endowment objectives in
two phases of fundraising.
Phase
I
|
Completed by December 2003 |
Goal: $750,000
|
| A. New
Basement Area |
Estimated Cost -
$250,000 |
The basement area contains an arts and crafts room, woodworking
shop, billiards room, fitness center, beauty salon, and staff
development center, all of which will directly benefit our
residents.
| B. General
Building Fund |
Estimated Need -
$250,000 |
Although the majority of
new construction and renovation requirements will be financed
through a construction loan, there exist a number of special
challenges that are critical for the overall quality of life and
care for current and future residents. The implementation of
these special challenges will depend on additional funds raised
through the Capital Campaign.
| C.
Maintenance Building and Equipment |
Estimated Cost -
$250,000 |
This is needed to
maintain our high standard of stewardship to our property and
resources. The new maintenance building will house the
maintenance department offices, maintenance equipment storage
and repair bay.
Phase II
To Be
Completed by December 2005
|
Goal: $2,000,000
|
|
A. Renovation
to Core Areas |
Estimated Cost -
$1,000,000 |
Original construction
from 1976 has seen many advancements and improvements in the
healthcare industry. Upgrades in our residential dining room,
kitchen, library, country store, and lobby are complete. Future
projects include a computer technology center and residential
room upgrades.
|
B. Unrestricted
Endowment |
Desired Funding
- $1,000,000 |
As Friends Village looks
to the future, the most needed funds will be for an unrestricted
endowment. These funds would be prudently invested and the Board
of managers will insure, as policy, to preserve the value of
principal regardless of annual and/or periodic expenditures for
ongoing needs or new ventures. A portion of the annual
allocation of these funds will be used for resident assistance,
where needed and appropriate, or for programs and equipment that
will benefit a majority of our residents.
Afterward
Friends Village at
Woodstown stands at a new threshold at the cutting-edge of
comprehensive housing and healthcare industry. The mission goals
outlined above have required bold initiatives. The Board of
Managers, administration, staff, and residents have united to
insure a healthy, stable and invigorating future for generations
of residents yet to call Friends Village their home.
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