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Covenant Woods Annual Report

VIEWS: 47 PAGES: 9

									Cover


        Covenant Woods
        Annual Report
            2007-2009
Mission
& Values

                                                                                                         I
                                                                                                            n 2008, Covenant Woods celebrated 125 years of service to our
                                                                                                            community. Reflecting on the past brought into focus the organi-
                                                                                                            zation’s unique history of service and commitment to mission.
                                                                                                         During those 125 years, over $50 million in need-based financial
                                                                                                         aid to residents has allowed many lives to be enriched, first in down-
                                                                                                         town Richmond at the Richmond Home for Ladies, and today in
                                                                                                         Hanover County. Throughout its 125-year history, fulfilling the
                                                                                                         benevolent vision of our Methodist and Presbyterian founders has                     J. Edward Marshburn
                                                                                                         been the guiding force. It continues to be so today.                                       Chairman
                                                                                                                                                                                                 Board of Directors
                                                                                                                                                                                                    2008-2009
                                                                                                               The mission of Covenant Woods is to provide our residents
                                                                                                               with exceptional care, quality of life, security and comfort,
                                                                                                               in keeping with the benevolent vision established in 1883
                                                                                                               by our Methodist and Presbyterian founders.

                                                                                                         Exceptional care, quality of life, security and comfort look quite a bit
Mission                                            Values
                                                                                                         different today than they did when those goals were first established
It is the mission of Covenant Woods, a not-        Wholeness of Life ~ Covenant Woods recog-
                                                                                                         in 1883. Today’s residents enjoy a rugged nature trail, a walking path
for-profit Continuing Care Retirement Com-         nizes the life and inherent worth of each
munity, to provide our residents with excep-       person and helps each individual to experi-           around a lovely fishing pond, grounds for gardening and a regula-
                                                                                                                                                                                             Timothy A. Johnson
tional care, quality of life, and security and     ence dignity and the greatest level of his or         tion bocce ball court on their 70-acre campus. Security is a personal                   President and
comfort in keeping with the benevolent vision      her emotional, mental, physical, spiritual and        response system and secured doors with automatic lock systems, as                   Chief Executive Officer
of our Methodist and Presbyterian founders.        vocational ability.
                                                                                                         well as the knowledge that should their financial resources be depleted
We will accomplish our mission by:                 Equality ~ Covenant Woods recognizes the
                                                   equality of all persons in its offering of services   through no fault of their own, residents will always have a home at
• Adhering to organizational values,
                                                   and opportunities for serving and strives to          Covenant Woods. Comfort is wonderful friends, exciting and enrich-
• Understanding the needs of aging adults,
                                                   develop and balance societal resources to             ing programs, great food in delightful dining venues, and knowledge
• Providing opportunities for people to live       accomplish this value.
  their lives to the fullest possible extent,                                                            that health care is here if needed.
                                                   Quality of Service ~ Covenant Woods seeks to
• Delivering health care and other services in     deliver services of the highest quality possible      From a humble beginning designed to meet the needs of a few
  a caring, effective and cost efficient manner,   by demonstrating competence, continuous               widows of the Civil War, to an accredited continuing care retirement
• Striving for high quality and continuous         improvement, innovation and creativity.
                                                                                                         community, the ability to change with the times has been critical.                      James C. Lester
  improvement in service delivery by our staff     Integrity ~ Covenant Woods values and dem-                                                                                                      Chairman
  and volunteers, and                                                                                    Covenant Woods will continue to grow and adapt to the needs of                         Board of Directors
                                                   onstrates honesty, integrity, fairness and trust-                                                                                               2007-2008
• Assuring our commitment to provide for           worthiness in all of its relationships.               those we serve. The wonderful residents, dedicated Board of Direc-
  the people we serve.                             Stewardship of Resources – Covenant Woods             tors, knowledgeable leadership group, and caring staff will continue to
                                                   exercises stewardship of its financial resources,     enable Covenant Woods to pursue its 125-year tradition of providing
                                                   benevolent funds, and physical assets, assuring
                                                   our commitment to provide for present and             exceptional quality of life for seniors.
                                                   future residents.



                                                                                                                                                                               Covenant Woods Annual Report 2009       1
The Heart of Covenant Woods                                                                             The Heart of Covenant Woods


Generosity of Giving                                                                                    Honor Roll of Contributors                                             April 1 2006–March 30, 2009




From our origins as the historic Richmond                                                                                                  Gwyndolyn Keil                       Helen H. Watson
                                                                                                           tHe CoVenant SoCiety            Doris J. Kelley                      Frederick E. and Helen Weisensale
Home for Ladies to our expansion into a
                                                                                                                                           James C. and Faye Lester             A. Melton and Jackie Williams
70-acre, fully accredited continuing care retire-                                                          The following donors have
                                                                                                                                           Lena S. Love
                                                                                                           generously included Covenant
ment community (CCRC) in the beautiful                                                                                                     Betty Loving                         front PorCH SoCiety
                                                                                                           Woods in their wills, trusts                                         ($100-$499)
rolling hills of Hanover County, Covenant                                                                                                  Ruth Lucero
                                                                                                           or other planned gifts and in                                        Aim Premium Finance
                                                                                                                                           Vivian A. and Kathryn Parks
Woods has relied on the support of its many                                                                so doing, have helped ensure
                                                                                                                                           Dr. and Mrs. Forrest Pitts           John and Helen Anton
benefactors. Their generosity has helped us to                                                             the continuance of a 125-year                                        James and Peggie Atkins
                                                                                                                                           Third Presbyterian Church
                                                                                                           tradition of outstanding
achieve our vision for growth in senior care                                                               service to seniors.
                                                                                                                                           O. Randolph Rollins                  Anne T. Baird
and services.                                                                                                                              A. Edwards Schlieser                 Ann Banks
                                                                                                           Mrs. Margaret Barlow            Robert and Janet Sommerville         Janell I. Barre
                                                                                                           Ms. Jean Brehmer                St. Giles Presbyterian Church        Caleb and Kathryn Batten
the Covenant Society                                                                                       Mrs. Betsy S. Cartwright        SuperValu                            Grace Battle
Established in 2003, the Covenant Society                                                                  Mrs. Janie Harrington           The Trust Company of Virginia        Beulah Methodist Church
recognizes those donors whose planned gifts                                                                Mrs. Carolyn Huntley            Betsy Waring                         Joseph and Sidney Black
                                                                                                           Mrs. Janet Kinker               Coleman Wortham, III                 James H. Boice, Jr.
are helping to guarantee that Covenant Woods’
                                                                                                           Mr. and Mrs. Moreland                                                Jean A. Brehmer
accredited care and services continue for future                                                            Irby, Jr.                      HanoVer SoCiety ($500-$999)          Linda Shields Brockwell
generations.                                                                                               Mrs. Eunice Kay                 Bank of America Foundation           Dr. Francis Brooke, III
                                                                                                           Mrs. Virginia Lemon             Carlene and Tom Bass                 Frances Browning
                                                                                                                                           Patrick and Terry Brady              Suzanne Bunting
the alex armour Covenant fund                                                                              Mrs. Roy Miller
                                                                                                                                           Central United Methodist Church
                                                                                                           Mr. Roy Moon                                                         Shirley C. Campbell
Donations to this invaluable fund support                                                                                                  Wilma Clare                          Phillip M Card
                                                                                                           Mr. and Mrs. William
the Covenant Program, established to assist         tribute Gifts                                           Robert Vial                    Claude B. and Lois Daniel            Betsy Cartwright
residents – both current and prospective –                                                                                                 Dominion Foundation                  Centenary United Methodist Church
                                                    Many donors choose to honor or remember                                                George R. and Jean T. Gifford
who find themselves in financial need through                                                                                                                                   Centenary United Methodist Church
                                                    a loved one or friend through an honorary or                                           Beryl Haeseker                         Women
                                                                                                        Bradford CirCle ($5,000+)
no fault of their own. Over the years, it has       memorial gift to Covenant Woods. We work            Bessie W. Bowman                   William C. Hall, Jr.                 Richard P. and Gayle Class
provided support for such items as entrance         with contributors to personally acknowledge         Henry Pollard Cobb                 Doris Holden                         W. Calvin Coghill
                                                                                                                                           Dixon Hughes
fees and monthly expenses and ensures that          each tribute.                                       Ballard Crooker                                                         Gabie Crutchfield
                                                                                                        Anne G. Downing                    Robert O. Johnson                    Dr. and Mrs. R. Cushing
no resident must ever leave Covenant Woods                                                                                                 Ruth M. Langdon
                                                                                                        Virginia C. Hughes                                                      William D. Cushnie
for monetary reasons.                               Corporate Matching Gifts                            William F. and Frances LaVecchia   Nancy S. Lickey                      Elizabeth Davis
                                                    Individuals who work for, or are retired from,      Dr. and Mrs. James L. Mays         Beverly Lordi                        Mary Davis
the annual Campaign                                                                                                                        J. Edward and Sandy Marshburn
                                                    a matching gift company can double their            Cameron C. Pitts                                                        Frankie Dillard
                                                                                                                                           Jacob W. Mast, Jr.                   Dynamic Mobile Imaging
Critical to the sustainment and growth of the       support of Covenant Woods by utilizing their        David O. and Marjorie Rose
                                                                                                                                           Hiroko McCaul                        Stanley and Emily Elmore
Covenant Fund, gifts to the Annual Campaign         company’s nonprofit matching gift program.                                             Jimmy Mills                          William and Jeanne Engleby
                                                                                                        Stuart aVenue SoCiety
touch the entire community, strengthening           Covenant Woods recognizes both the donor            ($1,000-$4,999)                    Jack and Jo Mitchell                 Bishop and Mrs. R. Kern Eutsler
our services and quality of care, and providing                                                                                            William L. Motley                    Bruce C. Fisher
                                                    and the corporation for their support.              Dr. and Mrs. Franklyn Ashby, Hr.
                                                                                                                                           Olsen Associates, Inc
support for unexpected resident needs.                                                                  Margaret H. Barlow                                                      James and Maxine Fitzgerald
                                                                                                        BB&T                               Crestwood Presbyterian Church        Dr. and Mrs. Harry Fore
                                                    naming opportunities                                                                   Fairfield Presbyterian Church        Charlotte H. Forrester
                                                                                                        Anna Marie Blatt
the J. edwin Givens fund                            From a lovely bench to a meeting room, named                                           Overbrook Presbyterian Church        FutureLaw, L.L.C.
                                                                                                        Harriet S. Brockenbrough
Covenant Woods believes that its employees          spaces are chosen by donors as the highest          Drs. Edwin and Patricia Brown         Women                             Hilton and Erline Goodwyn
are essential to the quality of care equation.                                                          The Community Foundation           River Road Presbyterian Church       Garth E. and Julia Griffith
                                                    form of compliment to friends and loved ones.                                             Women
The J. Edwin Givens Fund was named for a                                                                Covenant Woods Guild                                                    Burt and Lynn Hall
                                                    Such tributes are growing across the Covenant       Davenport & Company                Tuckahoe Presbyterian Church         Thomas and Betty Harris
highly respected long-time board member.            Woods campus.                                       James Elliott                      River Road United Methodist Women    Mary Hetzel
Gifts to this fund provide continuing                                                                   Mary Vaughan Francis               Robert B. and Harriett Scott         John D. Hill
                                                                                                                                           Charles and Leslie Shimer            Robert and Angela Hill
education scholarships to deserving staff.          For more information on making a planned gift       J. Edwin Givens
                                                                                                        Mr. and Mrs. Oliver L. Hitch       Jean Sommerville                     Alfred and Marilyn Hinzmann
                                                    or supporting the Covenant Woods community          Moreland and Lila Irby             William Stearns                      Mark Hudson
                                                    in any of these ways, please call the Development   William S. and Donna Jackson       Donald R. and Jan Tindall            Carolyn Jane Huntley
                                                                                                                                           Trinity United Methodist Church      Virginia Walker Jarvis
                                                    Office at 804-569-8004. We would be pleased to      William S. and Ann Nell Jackson
                                                                                                                                           Trinity Church – United Methodist
                                                                                                        Timothy A. Johnson                                                      (continued)
                                                    assist you.                                                                               Women

2   Covenant Woods Annual Report 2009                                                                                                                                          Covenant Woods Annual Report 2009    3
Honor roll of Contributors continued


Front Porch Society, continued          Betty D. Sweeney                     Patsy L. Corker                   Melvin and Donna Lanning          Jim Thomson                          In Memory of Dorothy Burcham
Peyton G. Jefferson, Jr.                Joseph and Margaret Tate             Goldie Craig                      Mary Loretta Lattis               Elizabeth and Donnie Thurston          Covenant Woods Guild
Walter E. Jefferson                     Elizabeth Taylor                     Bob and Kay Creasy                Marjorie Lautzenheiser            Dr. and Mrs. J. P. Todd                Mary Hetzel
Sue Johnson                             Katherine and Walter Thompson        Creighton Homemakers Club         Lee Artists Association           Jack and Jeanne Todd                 In Memory of Sally Childress
Edward and Judy C. Johnston, Jr.        Martha S. Thornhill                  June Crenshaw                     Virginia L. Lemon                 William R. and Winnie Vial             Covenant Woods Guild
Tom and Dorothy Jones                   Stewart and Catherine Trainham       Katherine Crouch                  C. P. and Florence Lewis          Virginia Angler’s Club                 Lena S. Love
Anne Kay                                Lois S. Tyree                        Kenneth E. Dabney                 Eileen Mabe                       Rose Wachter                           Mary P. Ryan
Eunice B. Kay                           United Methodist Women of Reveille   Teresa W. Darden                  Robert and Cheryl Mainwaring      Paul Wagner
Natalie Kent                            United Methodist Church Richmond     Grace Davis                       Shannon Marling                   Judy Waldron                         In Memory of Garland Childress
Crystal E. King                           District                           Anne Denny                        Erik Mauritsen                    Mary Hoge Wall                         Covenant Woods Guild
Janet H. Kinker                         Elizabeth D. Wagner                  Carolyn F. Dicken                 Donald C. McIver                  Ruth Wallace                           Virginia C. Hughes
The Kopelove Family                     George and Mary Wagner               Judith Dicken                     Gail McKinley                     James L. and Jane Waller               Tom and Dorothy Jones
John D. Lambert                         John and Carolyn Wake                Betty Ann Dillon                  Thomas and Suzanne Meade          Vernon and Wanda Walton                Gwyndolyn Keil
Mary B. Lancaster                       Jerry and Mary Walker                William F. Dillon, Jr.            Gordon and Carolyn Meador         Christopher Webb                       Lena S. Love
May Lee                                 Robert Wallace                       Ruth Dismore                      Gregory Melton                    Elmer and Betty West                   Roy A. Moon
Olive Litwinowicz                       Mary T. Waller                       Kathryn Dunham                    Robert M. Miller                  Westhampton United Methodist           Hardy A. and Verner S. Nance
Kate Marshburn                          Thelma Bland Watson                  James A. and Audrey Duval         Doris Mintz                         Church                               Vivian A. and Kathryn Parks
Elizabeth Mathews                       Stanford and Martie Wells            Alma Eells                        Camille Moore                     Westhampton United Methodist           Malcolm O. and Sarah Perkins
Doris McCalla                           Ellis and Phyllis West               Emily and Rick Endert             Frances E. Morgan                   Women                                Mary P. Ryan
Richard and Mary McDaniel               Marilyn West                         Ruth Erickson                     Bill and Carol Morling            Jean C. White                          Elizabeth Taylor
Anna Messick                            Warwick and Alyce West               Norman and Nancy Evans            Marion B. Morton                  Wilmuth T. White                     In Memory of Emily Claytor
William Mohr                            Robert and Marianne Whistler         David and Sabrina Falls           Wilma B. Mull                     Ruthann Wichelman                      Covenant Woods Guild
Roy A. Moon                             Porter White                         Charles and Phyllis Farnsworth    Arthur Nunnally                   Faye Williams                          Virginia C. Hughes
H. Stephen Moore, Jr.                   Eugene L. Williams                   Ruth B. Finke                     Howard and Kimberly Overby        Gerald and Virginia Wilson             Lena S. Love
Mary Moore                              Terrell Williams                     James B. and Joyce Fleet          William and Louisa Painter        David Winecoff                       In Memory of Ballard Crooker
Sue F. Munro                            Grace E. Wood                        John R. Foster, Jr.               Louise Parker                     Jean Winfield                          Virginia C. Hughes
James R. Musgrave                       Richard L. and Evelyn Wright         Nora Foster                       Jean Pauli                        Patty Withrow
Hardy A. and Verner S. Nance            Mary Lou Wright                      Helen Gales                       Mildred G. Peay                   Phyllis Wooden                       In Memory of William (Bill) Crouch
Anne B. Nock                            John C. Wycoff Jr.                   Jack and Carol Galvin             Lorraine Pecsok                   E. C. C. Woods, Jr.                    Margaret H. Barlow
Jeanne Nolley                           Helen K. Yates                       Doris L. Goodrich                 Richard E. Powers                                                        Anne Boney
Jean O’Grady                            Allen C. Young                       Essie B. Gordon                   Ginter Park Presbyterian Church   triBute GiftS                          Alma Eells
Elizabeth and Kirk Pace                                                      Albert Guyton                       Women                                                                  Covenant Woods Guild
                                                                                                                                                 In Memory of Janell Barre              James B. and Joyce Fleet
James A. Payne                          friendS                              Elmore and Mary Ann Hall          Westminster Presbyterian Church     Virginia C. Hughes
Thomas Peatross                         (up to $100)                         Jean S. Hamlett                     Women                                                                  Virginia C. Hughes
                                                                                                                                                   Tom and Dorothy Jones                Tom and Dorothy Jones
Malcom O. and Sarah Perkins             Mary Jo and Rod Allen                Don Hanby                         Iva Maye Purdy                      Gwyndolyn Keil
Kevin and Angie Phelon                  Michael J. Anastasio                 Thomas R. and Joyce Handy         Sarah E. Rattey                                                          Moreland and Lila Irby
                                                                                                                                                   Lena S. Love                         Olive Litwinowicz
Christine Phillips                      Mary Armstrong                       Sarah Harbison                    James and Betty Rice                Roy A. Moon
Conrad and Barbara Poniatowski          Dave and Barbara Augustson           John C. Harden                    John and Joanne Rilling                                                  Lena S. Love
                                                                                                                                                   Elizabeth Taylor                     Doris McCalla
A. V. Powell & Associates               Nancy Augustson                      Frank D. Hargrove, Jr.            Gary Rittereiser
Bon Air Presbyterian Church             Brad and Linda Baker                 Oriana Hargrove                   Julee Roerty                      In Memory of Emily Boice               Roy A. Moon
Crestwood Presbyterian Church           Raymond Baldacci                     Brenda D. Harris                  K. A. Rohaly                        Covenant Woods Guild                 Hardy A. and Verner S. Nance
  Women                                 Keith Barker                         Lawrence and Patricia Hasty       Thomas J. Row                       Patsy L. Corker                      Richard E. Powers
Presbyterian Women of the Second        Pamela Bartle                        Mr. and Mrs. Thomas Haynie        John A. and Elizabeth L. Rupp       Essie B. Gordon                      David and Marjorie Rose
  Presbyterian Church                   Julia Baxter                         Charles R. Hayward                Mary P. Ryan                        Sue Ann Holloway                     Novelene Shroyer
Third Presbyterian Church Women         Martha Benko                         David N. and Danette Hodges       James and Harriet Schnell           Carolyn Jane Huntley                 James Stewart
Bobbie Michelle Previs                  Archibald Benson                     Sue Ann Holloway                  Frances Schools                     William S. and Ann Nell Jackson    In Memory of Walter Crutchfield
Anne and Gordon Price                   Bethany Bible Class                  Audrey Hoover                     Patricia Rose Schwartz              Lena S. Love                         Gabie Crutchfield
R. Robert Rasmussen, II                 Bethel Baptist Church                Henry and Christiana Horenstein   Rev. and Mrs. Steve Scott           Roy A. Moon
                                                                                                                                                   Anne B. Nock                        In Memory of Corinne Daniel
Beth and Roger Richardson               UMW Beulah Methodist Church          Lynn Hughes                       Ray Shepherd                                                             Covenant Woods Guild
Tina J. Richardson                      Frances L. Blankenbaker              Jack R. Hunter                    William F. Shewey                   Betty D. Sweeney
                                                                                                                                                   Stewart and Catherine Trainham       Gwyndolyn Keil
Harold and Dawn Rohrs                   Donald J. Bloomquist                 Mattie H. Jenkins                 Martha Singdahlsen                                                       Malcolm O. and Sarah Perkins
Peter Schatzki                          Anne Boney                           William and Jerolene Jennings     Charles L. Smith, Jr.             In Memory of Dodie Branner
Jean and James Schmidt                  Erin Brown                           David and Janis Johnson                                               Covenant Woods Guild                In Memory of Howard Davis
                                                                                                               Madeline Snead
Novelene Shroyer                        Dorothy Bullock                      Clinton Jones Jr.                                                     Carolyn Jane Huntley                 Elizabeth Davis
                                                                                                               Kaitlyn Sorensen
Charles A. Skinner                      Dorothy E. Burcham                   Christie and Dick Jones                                               Bev Lordi                            Grace Davis
                                                                                                               Jackie Spiers
Nancy Smart                             Thomas S. Butler                     Jeffrey Jones                                                                                              Virginia C. Hughes
                                                                                                               Mary Spiers                       In Memory of Dr. Harry Bullock
Jean Sommerville                        Jean Bynum                           Michael and Kristin Jones                                                                                  Carolyn Jane Huntley
                                                                                                               St. James Women of the Church       Carolyn Jane Huntley
Christopher Sorensen                    Anthony and Angel Carroll            Diane P. Joyce                                                                                             Lena S. Love
                                                                                                               Jacqueline D. Stansbury             Mattie H. Jenkins
William and Helen Spell                 Edna Chewning                        Janet H. Kinker                                                                                            Roy A. Moon
                                                                                                               Jason and Renae Sterling            Gwyndolyn Keil
Robert L. and Genevieve Stevens         Herbert Clarke                       Sarah E. Knoeller                                                                                          James Musgrave
                                                                                                               Michael and Ann Stoneman            Bev Lordi
James Stewart                           William E. Clingman, Sr.             John and Donnie Kopp              Helen Taylor                        Lena S. Love                       (continued)
Irma T. Stone                           Philip and Elizabeth Coltrain        Ingrid Lampert                    Dee Thomas                          Malcolm O. and Sarah Perkins


4   Covenant Woods Annual Report 2009                                                                                                                                                Covenant Woods Annual Report 2009     5
Honor roll of Contributors continued


Tribute Gifts continued                   Herbert Clarke                         Jean Bynum                        In Memory of George Loving        Covenant Woods Guild                In Memory of Elizabeth Vick
In Memory of Irma Erhlich                 Dr. and Mrs. Robert Cushing            Edna Chewning                       Virginia C. Hughes              Virginia C. Hughes                    Covenant Woods Guild
 Covenant Woods Guild                     Kenneth E. Dabney                      Teresa W. Darden                  In Memory of Eugene McCaul        Carolyn Jane Huntley                  Dr. and Mrs. Forrest Pitts
 Mary Hetzel                              Elizabeth Davis                        Carolyn F. Dicken                   Virginia C. Hughes              Roy A. Moon                         In Memory of James Waring
 Virginia C. Hughes                       James B. and Joyce Fleet               Judith Dicken                       Carolyn Jane Huntley            James R. Musgrave                     Tina J. Richardson
 Gwyndolyn Keil                           Jack and Carol Galvin                  Covenant Woods Guild                                                Hardy A. and Verner S. Nance
                                          Mr. and Mrs. Edwin B. Hughes           Jean S. Hamlett                   In Memory of Sylvia McKinney      Vivian A. and Kathryn Parks         In Memory of Media Marie Whittington
 Lena S. Love                                                                                                        Covenant Woods Guild                                                  Covenant Woods Guild
 Gordon and Carolyn Meador                Mr. and Mrs. Brad Hughes               Mary Hetzel                                                         Malcolm O. and Sarah Perkins
                                          Mr. and Mrs. Philip W. Hughes          Robert and Janis Vanden Heuvel      Mary Hetzel                     Charles Skinner                       Haynie Family
In Memory of Ray Gordon                   Mr. and Mrs. Virgil Gregory Hughes     Cheryl W. Hudson                    James and Betty Rice            Elizabeth Taylor                      Mary Hetzel
  Gabie Crutchfield                       Virginia C. Hughes                     Moreland and Lila Irby            In Memory of Roy Miller                                               In Memory of Faye Williams
  Covenant Woods Guild                                                                                                                              In Memory of Jack Taylor
                                          Lynn Hughes                            William S. and Ann Nell Jackson     Covenant Woods Guild             John and Helen Anton                 Gabie Crutchfield
  Virginia C. Hughes                      Carolyn Jane Huntley                   Virginia Walker Jarvis              Virginia C. Hughes                                                    Covenant Woods Guild
  Carolyn Jane Huntley                                                                                                                                Mary Armstrong
                                          Moreland and Lila Irby                 Diane P. Joyce                      Gwyndolyn Keil                   Anne T. Baird                        Virginia C. Hughes
  Lena S. Love                            Clinton Jones Jr.                      Gwyndolyn Keil                      Malcolm O. and Sarah Perkins                                          Carolyn Jane Huntley
  Roy A. Moon                                                                                                                                         Margaret H. Barlow
                                          Jeffrey Jones                          Mary Loretta Lattis               In Memory of Jack Newbill          Julia Baxter                         Lena S. Love
  Vivian A. and Kathryn Parks             Tom and Dorothy Jones                  C. P. and Florence Lewis                                                                                  Malcolm O. and Sarah Perkins
  Malcolm O. and Sarah Perkins                                                                                       William and Jeanne Engleby       Frances L. Blankenbaker
                                          Gwyndolyn Keil                         Ruth Lucero                         Virginia C. Hughes               Anna Marie Blatt                     Dr. and Mrs. Forrest Pitts
  Elizabeth Taylor                        Crystal E. King                        James R. Musgrave                   Carolyn Jane Huntley             Jean A. Brehmer                    In Memory of Birdie Williams
In Memory of Phyllis Guyton               Janet H. Kinker                        Sarah E. Rattey                                                      Harriet S. Brockenbrough             Covenant Woods Guild
  Covenant Woods Guild                    Ingrid Lampert                         John A. and Elizabeth L. Rupp     In Memory of Betty Newbill
                                                                                                                     William and Jeanne Engleby       Suzanne Bunting                      Mary Hetzel
In Memory of Elizabeth Hines              Olive Litwinowicz                      Jacqueline D. Stansbury                                              William E. Clingman, Sr.             Virginia C. Hughes
                                          Beverly Lordi                          Michael and Anne Stoneman           Covenant Woods Guild
  Margaret H. Barlow                                                                                                 Virginia C. Hughes               Bishop and Mrs. R. Kern Eutsler      William and Jerolene Jennings
  Grace Battle                            Lena S. Love                           Elizabeth Taylor                                                     Norman and Nancy Evans               Melvin and Donna Lanning
                                          Doris McCalla                          Donald R. and Jan Tindall           Carolyn Jane Huntley
  Thomas S. Butler                                                                                                   Lena S. Love                     Fairfield Presbyterian Church        Lena S. Love
  Jean Bynum                              Thomas and Suzanne Meade               James L. and Jane Waller                                             Jean S. Hamlett                      Judy Waldron
  Anne Denny                              Roy A. Moon                            Betsy Waring                      In Memory of Janice Oglesby        Audrey Hoover                        Eugene L. Williams
  Richard and Charlotte H. Forrester      Frances E. Morgan                      Phyllis Wooden                    Covenant Woods Guild               Virginia C. Hughes                 In Memory of Mel Williams
  Mary Vaughan Francis                    James R. Musgrave                    In Memory of Marcia Johnson         In Memory of Alice Overby          Carolyn Jane Huntley                 James R. Musgrave
  Covenant Woods Guild                    Hardy A. and Verner S. Nance           Kathryn Dunham                      Bethany Bible Class              Moreland and Lila Irby
  Mary Hetzel                             Vivian A. and Kathryn Parks            David and Sabrina Falls             Covenant Woods Guild             Mattie H. Jenkins                  In Honor of Alpha Delta Kappa
  Virginia C. Hughes                      Malcolm O. and Sarah Perkins           Essie B. Gordon                     Mary Hetzel                      Tom and Dorothy Jones                Betty D. Sweeney
  Carolyn Jane Huntley                    Ms. Theodora Peterson                  Covenant Woods Guild                Virginia C. Hughes               Anne Kay                           In Honor of Lindsay King
  Gwyndolyn Keil                          Dr. and Mrs. Forrest Pitts             Charles R. Hayward                  Gwyndolyn Keil                   Gwyndolyn Keil                       Doris Mintz
  Lena S. Love                            Conrad and Barbara Poniatowski         Mary Hetzel                         Howard and Kimberly Overby       Janet H. Kinker                    In Honor of Colonel Dave Schumaker
  Betty Loving                            Thomas J. Row                          Henry and Christiana Horenstein                                      Lee Artists Association
                                                                                                                   In Memory of Jean Row                                                   James A. and Audrey Duval
  Robert and Cheryl Mainwaring            Dave and Mary Love Schumaker           Moreland and Lila Irby                                               Beverly Lordi
                                                                                                                     Virginia C. Hughes                                                    Beverly Lordi
  Roy A. Moon                               (Col. Ret.)                          David and Janis Johnson                                              Lena S. Love
                                                                                                                     Carolyn Jane Huntley                                                In Honor of Reverend Steve Scott
  James R. Musgrave                       Novelene Shroyer                       Gwyndolyn Keil                                                       Doris McCalla
                                                                                                                     Gwyndolyn Keil                                                        Charles A. Skinner
  Malcolm O. and Sarah Perkins            Betty D. Sweeney                       Ruth Lucero                                                          Hardy A. and Verner S. Nance
                                                                                                                     Lena S. Love
  James and Harriet Schnell               Elizabeth Taylor                       William Mohr                                                         Olsen Associates, Inc              In Honor of Doretha Wimms
                                                                                                                     Malcolm O. and Sarah Perkins
  Ray Shepherd                            Virginia Angler’s Club                 Lorraine Pecsok                                                      William and Louisa Painter           Patricia Rose Schwartz
  William F. Shewey                       Ruth Wallace                           Jean Winfield                     In Memory of Joyce Schatzki        Vivian A. and Kathryn Parks
                                                                                                                     Covenant Woods Guild                                                In Honor of Elizabeth Taylor
  Jason and Renae Sterling                Vernon and Wanda Walton                                                                                     Malcolm O. and Sarah Perkins
                                                                               In Memory of Stanley Litwinowicz      Carolyn Jane Huntley                                                  Gabie Crutchfield
  Dr. and Mrs. J. P. Todd, Jr.            Stanford and Martie Wells                                                                                   Dr. and Mrs. Forrest Pitts
                                          Elmer and Betty West                   Virginia C. Hughes                  Lena S. Love                                                        In Honor of Katherine Thompson
In Memory of Florence Hill                                                       Carolyn Jane Huntley                                                 John and Joanne Rilling
                                          Wilmuth T. White                                                           Dr. and Mrs. Forrest Pitts                                            Mary P. Ryan
  Covenant Woods Guild                                                           Olive Litwinowicz                                                    K. A. Rohaly
                                          John C. Wycoff Jr.                                                       In Memory of Morgan Smart          David and Marjorie Rose            In Honor of Walter Jefferson
  Carolyn Jane Huntley                                                           Lena S. Love
                                        In Memory of J. Edwin Givens                                                 Virginia C. Hughes               Novelene Shroyer                     William S. and Donna Jackson
  Ruth Lucero                                                                    Roy A. Moon
  Kirk and Elizabeth Pace                 James and Peggie Atkins                James R. Musgrave                   Carolyn Jane Huntley             Martha Singdahlsen                 In Honor of Walter Thompson
  Dr. and Mrs. Forrest Pitts              Harriet S. Brockenbrough               Hardy A. and Verner S. Nance        Mattie H. Jenkins                Betty D. Sweeney                     Katherine and Walter Thompson
  Helen Yates                             Suzanne Bunting                        Elizabeth Taylor                    Gwyndolyn Keil                   Helen Taylor
                                                                                                                     Bev Lordi                                                           In Honor of Betty Loving
                                          Anne G. Downing                                                                                             Katherine and Walter Thompson
In Memory of Penn Hughes                                                       In Memory of William Lordi            Lena S. Love                                                          Madeline Snead
                                          Gwyndolyn Keil                                                                                              Donnie and Elizabeth Thurston
  Mr. and Mrs. Paul Anderson              John D. Lambert                        Covenant Woods Guild                Hiroko McCaul                    Dr. and Mrs. J. P. Todd, Jr.
  Dave and Barbara Augustson                                                     Virginia C. Hughes                  Malcolm O. and Sarah Perkins                                        While every effort has been made to
                                          Charles and Leslie Shimer                                                                                   Ellis and Phyllis West
  Nancy Augustson                                                                Carolyn Jane Huntley                Dr. and Mrs. Forrest Pitts                                          create an accurate list of donors, we
                                        In Memory of Marion Jefferson                                                                                 Warwick and Alyce West
  Anne T. Baird                                                                  Gwyndolyn Keil                      Nancy Smart                                                         appreciate your contacting us should
                                          Brad and Linda Baker                                                                                        Gerald and Virginia Wilson
  Margaret H. Barlow                                                             Bev Lordi                                                                                               you notice an error. Please call the
                                          Margaret H. Barlow                                                       In Memory of Marian Skinner        Faye Williams
  Frances L. Blankenbaker                                                        Malcolm O. and Sarah Perkins                                                                            Development Office at 804-569-8004.
  Robert Branner                          Martha Benko                           Dr. and Mrs. Forrest Pitts          Michael J. Anastasio
  Edna Chewning                           Donald J. Bloomquist                   Elizabeth Taylor                    Gabie Crutchfield
                                                                                                                     Lena S. Love

6   Covenant Woods Annual Report 2009                                                                                                                                                   Covenant Woods Annual Report 2009        7
The Heart of Covenant Woods                                                                      The Heart of Covenant Woods


Volunteer Leadership                                                                             Volunteerism at Home
Covenant Woods’ volunteer                                                                        Community Volunteers
leadership is comprised of                                                                       Covenant Woods boasts many
dedicated individuals willing                                                                    resident volunteers, dedicated
to share time, talent and                                                                        to improving the lives of those
expertise in the interest of                                                                     around them. From creative
growing Covenant Woods’                                                                          arts classes to one-on-one
services and programs.                                                                           visits of support and friend-
                                                                                                 ship, their efforts are felt and
Board of directors                                                                               appreciated throughout the
Covenant Woods is a                                                                              Covenant Woods community:
not-for-profit Virginia cor-                                                                     • art/music program leaders
poration, tax exempt under                                                                       • in-house mail deliverers
Section 501(c)(3) of the                                                                         • party hosts
Internal Revenue Code and                                                                        • pet therapy helpers
governed by a volunteer                                                                          • chorus directors
Board of Directors. Board                                                                        • cooking class instructors
committees include the                                                                           • educational lecturers
Executive Committee,                                                                             • Residents Council members
Board Resources, Develop-               2007-2008 Board             2008-2009 Board              • community outreach
ment, Finance, Quality                  James C. Lester, Chairman   Joseph E. Marshburn,            workers
Management, and Strategic               Joseph E. Marshburn,           Chairman
                                                                                                 Covenant Woods’ volunteer
Planning.                                  Vice Chairman            Leslie A. Shimer, Esq.,
                                        Leslie A. Shimer, Esq.,        Vice Chairman             spirit does not stop at our
                                           Secretary                Mary Vaughan Francis,        front door. Residents and
                                        Directors:                     Secretary                 employees alike reach out to
                                        Molly C. Ashby              Directors:                   assist the greater Richmond
                                        Carlene M. Bass             Molly C. Ashby               community in programs
                                        Patrick J. Brady            Peggie L. Atkins             and events such as the:
                                        Francis J. Brooke           Carlene M. Bass              • Hanover Food Pantry
                                        Anne G. Downing             Patrick J. Brady             • Hanover Christmas Mother
                                        James D. Elliott, Jr.       Anne G. Downing              • Ashland Strawberry Faire
                                        Emily Elmore                James D. Elliott, Jr.        • Hanover Tomato Festival          Covenant Woods Guild                Covenant Woods
                                        Mary Vaughan Francis        Emily Elmore                 • Alzheimer’s Association          A leadership volunteer group        residents’ association
                                        J. Natalie Kent             J. Natalie Kent                 Memory Walk                     that consists primarily of rep-     The Residents’ Association
                                        William F. LaVecchia        William F. LaVecchia                                            resentatives from Methodist         keeps communication flow-
                                        Nancy Lickey                Jacob W. Mast, Jr.                                              and Presbyterian churches in        ing between administration
                                        Jacob W. Mast, Jr.          Jimmy T. Mills                                                  the Richmond metropolitan           and the resident community.
                                        O. Randolph Rollins         O. Randolph Rollins                                             area, the Guild works tire-         Committee membership,
                                        Dr. Robert B. Scott         Dr. Robert B. Scott
                                                                                                                                    lessly to promote interest          which is open to all residents,
                                        Christopher Sorensen        Christopher Sorensen
                                                                                                                                    in and support for resident         includes Activities, Dining
                                        Donald R. Tindall           Donald R. Tindall
                                        J. T. Ward                  Margie Turbyfill
                                                                                                                                    needs from churches and             Services, Health and Wellness,
                                        Mary Jane Winter            Thelma Bland Watson, Ph.D.                                      other entities.                     Landscape, Library, Pond
                                                                    Mary Jane Winter                                                                                    and Trail, and Television and
                                                                                                                                                                        Technology.



8   Covenant Woods Annual Report 2009                                                                                                                                 Covenant Woods Annual Report 2009   9
BALANCE SHEETS                                                                                       STATEmENTS of opErATioNS

March 31                                                 2009             2008             2007      Years ended March 31                                       2009               2008                  2007
assets
Current assets:                                                                                      Revenues, gains, and other support:
 Cash and cash equivalents                        $       97,847   $      196,525   $      406,634    Residental services, including amortization
 Receivables                                             605,243        1,504,242          735,060      of advance fees of $2,125,772 in 2009,
 Advanced fee deposits                                   118,000          126,500          169,500      $2,240,497 in 2008, and $1,226,335 in 2007 $          6,348,007    $     5,727,138           $ 3,086,014
 Resident funds                                           11,800           79,336           77,795    Net patient health care and wellness revenue            2,953,100          2,311,841             2,252,910
 Prepaid expenses and other                              248,229          218,791          261,350    Unrestricted gifts and donations                          123,567             84,832               132,889
   Total current assets                                1,081,119        2,125,394        1,650,339    Interest and dividend income                            1,339,708          1,932,962               840,969
                                                                                                      Net realized gains on sales of investments               (326,993)        10,439,416             4,898,858
Assets whose use is limited:                                                                          Gain (loss) on disposal of assets                           4,490             (4,346)               (4,542)
 Externally restricted under                                                                          Other                                                     408,278            929,381               635,153
    permanent donor restrictions                       2,493,016        2,967,593        3,200,026
                                                                                                        Total revenues, gains, and other support             10,850,157         21,421,224            11,842,251
Investments                                           25,462,478       41,782,101       44,106,600
                                                                                                     Expenses:
Property and equipment, net                           43,601,177       44,382,849       44,786,012
                                                                                                      Salaries and benefits                                   5,971,871          5,439,356             4,666,150
Other assets:                                                                                         Supplies and materials                                    250,371            262,697               198,226
 Deferred marketing costs, net of accumulated                                                         Depreciation and amortization                           2,107,971          1,767,749             1,453,283
   amortization of $934,395 in 2009,                                                                  Interest expense                                        1,210,100          1,547,135             1,492,971
   $745,198 in 2008, and $577,444 in 2007              1,364,321        1,277,209        1,349,198    Repairs and maintenance                                   314,360            319,255               256,941
 Deferred financing costs, net of accumulated                                                         Professional fees                                         350,274            338,698               234,389
   amortization of $129,085 in 2009,                                                                  Food                                                      602,408            570,726               451,053
   $115,377 in 2008, and $101,669 in 2007                287,673          301,381          315,089    Occupancy costs                                           884,557            749,214               591,003
     Total other assets                                1,651,994        1,578,590        1,664,287    Resident allowance and other support                       12,958             33,302                39,724
                                                                                                      Insurance                                                 242,207            286,341               324,974
       Total assets                               $   74,289,784   $ 92,836,527     $ 95,407,264      Other                                                     958,316            894,829               725,344
                                                                                                        Total expenses                                       12,905,393         12,209,302            10,434,058
liabilities and net assets
                                                                                                         Operating income (loss)                            (2,055,236)          9,211,922             1,408,193
Current liabilities:
 Accounts payable                                 $      639,391   $      265,984   $    1,485,086   Nonoperating gains (losses):
 Accrued salaries and benefits                           373,919          346,046          142,948    Decrease in estimated obligation to provide
 Interest payable                                         17,167           76,336          165,493     future services and use of facilities to
 Advanced fee deposits                                   118,000          126,500          169,500     current residents                                              -          1,786,982               579,836
 Resident funds                                           11,800           79,336           77,795    Other-than-temporary impairment of investments        (13,080,732)                  -                    -
 Current portion of long-term debt                       860,000          820,000       12,945,393    Gain (loss) in fair value of interest rate collar         179,929           (192,884)             (144,009)
 Other                                                   215,036          186,559          271,795
   Total current liabilities                           2,235,313        1,900,761       15,258,010   Excess (deficit) of revenues, gains and other
Long-term debt, net of current portion                30,087,568       31,781,138       29,765,000    support over expenses                                 (14,956,039)        10,806,020             1,844,020

Interest rate collar liability                          156,964          336,893          144,009    Other changes in unrestricted neet assets:
Advance fees and deposits                                                                             Net unrealized loss on investments                       (433,773)       (12,085,535)            (1,718,128)
 Refundable advance fees                               4,292,841        4,843,125          738,718      Increase (decrease) in unrestricted net assets    $ (15,389,812)   $    (1,279,515)      $        125,892
 Deferred revenue from advance fees                   17,783,762       18,376,885       10,604,872
   Total advance fees and deposits                    22,076,603       23,220,010       11,343,590
Estimated obligation to provide future services                -                -        1,786,982
    Total liabilities                                 54,556,448       57,238,802       58,297,591

Net assets:
 Unrestricted                                         17,240,320       32,630,132       33,909,647
 Permanently restricted                                2,493,016        2,967,593        3,200,026
   Total net assets                                   19,733,336       35,597,725       37,109,673
     Total liabilities and net assets             $   74,289,784   $ 92,836,527     $ 95,407,264


10    Covenant Woods Annual Report 2009                                                                                                                                    Covenant Woods Annual Report 2009    11
                                                                                                               The Heart of Covenant Woods
Statistics & Staff
                                                                                                               Ways to Give
                                                                                                               Covenant Woods offers its donors many ways to give
                                                                                                               and the Development Office is available to answer all
                                                                                                               of your charitable giving questions. All inquiries are
                                                                                                               strictly confidential. Please call 804-569-8004 or
                                                                                                               email brichardson@covenantwoods.com.
                                                                                                               Check
                                                                                                               Gifts made by check are the easiest and most popular
                                                                                                               way to contribute. Make checks payable to Covenant
                                                                                                               Woods and note on the memo line if you would like
                                                                                                               your gift applied in a specific way.
                                                                                                               Credit Card
                                                                                                               Covenant Woods accepts donations through Master-
                                                                                                               Card, VISA and Discover. Once the donation is
                                                                                                               processed, no credit card information is retained on
                                                                                                               permanent record.
                                                                                                               Gift annuities
Statistics (as of March 30, 2009)                           Management Staff 2008-2009                         Gift annuities enable you to achieve your charitable
                                                                                                               objectives while providing guaranteed income for you,
Independent living residences                               Timothy A. Johnson, President and
                                                                                                               your spouse and /or family members, as well as a tax
  Apartments . . . . . . . . . . . . . . . . . . 104          Chief Executive Officer
                                                                                                               deduction.
  Cottages . . . . . . . . . . . . . . . . . . . . . . 29   James R. Musgrave, Chief Financial Officer
                                                            Carrie Davis, Administrator                        Bequests
Assisted living apartments . . . . . . . . . . 30
                                                            Emily Endert, Director of Human Resources          Made through your will, a bequest enables you to retain the property until after death and
Memory support suites . . . . . . . . . . . . 13                                                               avoid estate taxes. The bequest can designate distribution of either a specific dollar amount or
                                                            Meghan Horan, Director of Resident and
Healthcare center (nursing) beds . . . . . 39                                                                  a percentage of the estate.
                                                             Recreation Services
Employees . . . . . . . . . . . . . . . . . . . . . 188     Bridget Todd, RN, Director of Nursing              Planned Gift
Volunteers . . . . . . . . . . . . . . . . . . . . . 158    William Jefferson, Director of Facilities          Remembering Covenant Woods in your will or naming Covenant Woods as beneficiary to
Covenant Woods is pledged to the letter and                 Erik Mauritsen, Controller & Corporate             charitable gift annuities, pooled income funds, charitable remainder trusts, or life insurance –
spirit of U.S. policy for the achievement of                   Compliance Officer                              all are forms of planned gifts and ways to ensure that Covenant Woods’ excellent care and service
equal housing opportunity throughout the                    Greg Melton, Director of Information Technology    continue for generations to come.
nation. We encourage and support an affir-                  Elizabeth J. Richardson, Director of Development
                                                                                                               Stock
mative advertising and marketing program                       and Marketing
                                                                                                               Gifts of appreciated securities can be advantageous to the donor, providing a charitable deduction
in which there are no barriers to obtaining                 Paul Westerfield, Director of Dining Services
                                                                                                               for the full fair market value of the stock at the time of the gift, thus avoiding capital gains on
housing because of race, color, religion, sex,              Steve Scott, Director of Spiritual Care
                                                                                                               increased stock value.
handicap, familial status or national origin.
The continuing care retirement facilities and                                                                  Gifts in Kind
services of Covenant Woods are offered solely                                                                  Covenant Woods welcomes donations of items appropriate for use in the facility, as well as
by Covenant Woods, a Virginia corporation,                                                                     contributions for resale in our secondhand shop (the “Ruth Shoppe”). Gift value
which is not affiliated with any outside con-                                                                  is determined by the donor as specified by the Internal Revenue Service.
tinuing care retirement facility or provider.
                                                                                                               Covenant Woods Development Office
                                                                                                               7090 Covenant Woods Drive, Mechanicsville, VA 23111
                                                                                                               804-569-8004

12   Covenant Woods Annual Report 2009
Covenant Woods                 Non-Profit
7090 Covenant Woods Drive      US Postage
Mechanicsville, VA 23111         PAID
                             Richmond, VA
                            Permit No. 1845

								
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