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Many people made 2012 great for the care center | Letter to the Editor
As outgoing president of the Vashon Community Care board of directors, I want thank those who helped make 2012 such an amazing year.
Thanks to many generous donors, we raised more than $600,000 to cover operating deficits, debts and fees necessary to refinance our mortgage. On Jan. 31, we should close on the refinance, dropping our interest rate from 7.68 to 2.8 percent and saving approximately $250,000 per year for the 40-year term of the new loan.
That means that instead of losing money every month, VCC will begin to build reserves to cushion against typical swings in revenues — starting now. We will still raise private dollars annually, but the amount will be capped at 2010 levels, and private dollars will be used primarily to enhance or start up new programs and services for residents and others in the community.
Thanks also to our longtime partner Providence Senior and Community Services, which forgave a very significant development debt that has been on their books and ours since 2004. Without the expertise and commitment of Providence to our community, there would be no VCC.
Thanks also to the staff of VCC who have worked with remarkable commitment and compassion through a very lean year. You can feel the love when you walk in the building. Without the quality of our staff, VCC just would not be VCC.
Thanks to my colleagues on the board of directors. It was a hard pull this past year, and everyone found their way to contribute. Because of the collective hard work, we begin 2013 as a treasured island resource that is successfully building its financial sustainability. I am very pleased to turn over the presidency of the board of directors to Barry Grosskopf, effective Feb. 1. Barry is the perfect leader as we turn our focus toward maintaining quality internally and expanding community connections externally.
— Lynn Davison