[ Taken from the Caring House news release Feb 29 2012]

Growing community support has boosted Caring House close to the midpoint of its $1 million campaign.

Caring House, a home completely focused on end-of-life needs of those who are dying and support for their families and loved ones, is being created by a hard-working local group of volunteers. Caring House will be an alternative for individuals who are receiving end-of-life hospice care, but can’t remain in their homes. No one should die alone. Caring House residents will receive 24-hour caregiver services from the Caring House staff, enhanced by the work of caring volunteers. Residents will continue to receive their hospice services from their chosen visiting hospice organizations.

The Caring House board has set a goal of $1 million in advance fundraising. The funds will be used to purchase a home, make needed renovations and provide prudent operating reserves. For now, Caring House is seeking pledges (not cash). It will call on the pledges once the $1 million goal is reached. It has already raised more than $480,000.

The campaign recently added a novel “bridge loan” program, in which supporters will lend funds to Caring House for ten years, helping it get started. “I’m excited about the bridge loan program” said Ed Long, Caring House volunteer and president, “it lets a supporter combine caring and generosity with an interest-earning investment.” The bridge loan program has already produced pledges of $150,000.

Major financial supporters to date include Torrance Memorial Medical Center, Providence Little Company of Mary Foundation, and local philanthropists including the Scriba Family and Jimi Andersen.

“Compared to the person’s home, Caring House will be the next best place or, in some cases, a better place” noted Bill Larson, Caring House volunteer treasurer, “and Caring House will be a wonderful addition to the services available in our South Bay community.”

Caring House seeks $1 million to fund the purchase of a home, start-up costs and prudent operating reserves. As of November 1, 2011, Caring House has obtained more than $435,000 of that support.

Pledges Sought: Caring House is seeking two types of pledges (not actual cash) at this time. Caring House would call on the pledges once the total support level (cash and pledges) reaches $1 million. All pledges will be documented in writing.

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Pledge Type 1: Cash Donations: The goal is to have cash and pledged cash support of $400,000 or more. More than $335,000 has already been obtained, so Caring House seeks $65,000 of new cash pledges at this time. Such pledges can be in any amount, and for a one-time up-front donation or spread equally over three years.

Pledge Type 2: Lending, Notes:  The goal is to obtain pledges to lend to Caring House the amount of $600,000 ($100,000 of which has already been pledged). All such pledges will be for $100,000 or a multiple thereof and for a one-time up-front loan. The goal is to have six or fewer lenders. A great way to combine caring, generosity and an interest-earning investment.

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The cloud represented by 25% or greater declines in South Bay home prices has revealed a silver lining. It may well make it possible for a unique new end-of-life care home to open its doors in the South Bay.

Each year, more than 2,000 South Bay residents die while receiving care from one of our local visiting hospice organizations. Most are able to receive that care in their own homes. More than 500 dying individuals each year, however, must leave their homes and receive their hospice care in nursing homes and other less-than-ideal institutional settings. Paying for 24/7 home care is not possible for many; in other cases family members provide care but simply become physically and emotionally exhausted.

Candidates for admission to Caring House will be adults suffering from a terminal illness with a three month or shorter remaining life expectancy. The average length of stay at a similar home in Syracuse, NY, is about 30 days.

We’re working diligently to create Caring House, a home completely focused on end-of-life needs of those who are dying and support for their families and loved ones. Caring House will be a available to individuals who are receiving end-of-life hospice care, but can’t remain in their homes. Residents will receive 24-hour caregiver services from the Caring House staff, enhanced by the work of caring volunteers. Residents will continue to receive their hospice services from their chosen visiting hospice organization.

Caring House will be the first of its kind in Southern California. “We’re incorporated, we’re recognized by the IRS, we know the licensing rules and we’ve learned from successful facilities elsewhere” said Ed Long, Caring House volunteer and president, “our biggest remaining task is to acquire and renovate a residence to call home.”

The Caring House board of directors recently set a target of $1 million in fundraising, in the form of cash and pledges, and has raised $435,000 of that amount. The $1 million will be used to purchase a home, make needed renovations and provide necessary operating reserves.

Major financial supporters to date include Torrance Memorial Medical Center, Providence Little Company of Mary Foundation, and local philanthropists including the Scriba Family and Jimi Andersen.

Caring House is seeking pledges now (not cash), and will call on the pledges once the $1 million goal is reached. Caring House is open to borrowing from supporters who are interested in combining caring, generosity and an interest-earning investment.

Neither Medicare nor Medi-Cal will provide any funding. Operating revenues will come from resident fees of those who can afford to pay. The plan to admit and retain residents who cannot afford to pay the full charge will depend on donations and the generosity of the community.

“Compared to the person’s home, Caring House will be the next best place or, in some cases, a better place” added Bill Larson, Caring House volunteer treasurer, “and Caring House will be a wonderful addition to the services available in our South Bay community.”

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