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Open Avenues, formerly known as ADC lizduncan@openavenues.org Open Avenues Touch Base Tuesday! Tuesday, July 19, 2011 3:00:59 PM

Open Avenues

Open Avenues Touch Base Tuesday! Dear Elizabeth, Open Avenues, formerly known as the Adult Development Center of Benton County, Inc. (ADC) is a training organization for adults with disabilities.  Open Avenues Touch Base Tuesday is a monthly epublication of Open Avenues. Please forward this email to your friends! 

In This Issue Brenda's Banter

Brenda's Banter   In case anyone has missed it.....it's HOT in NWA! And I'm certain I don't have to tell you how happy we are to spend our first summer in our new Open Avenues facility that is cool, and comfortable. It's hard to imagine how we survived so many hot summers in our old building without airconditioning. Thank you NWA, for making it possible for us to complete our project and provide such a wonderful training site for our clients.   We would like to take credit for being very smart when we selected the site for our new campus. The truth is, it was a good location and a good deal, period. But after several months of construction, we discovered that our land was in a census tract designated to be low income or under developed that made it eligible for New Market Tax Credits. As a non-profit we obviously don't need tax credits. In 2009, we were contacted by the Arkansas Capital Corporation and began to explore the possibility of selling the tax credits. It was a long process and "complicated" just isn't the right word. But the long story short, we were able to close on this very difficult transaction on June 2nd. It will take seven years, but in the end, this will translate into a $1,046,000 debt forgiveness for Open Avenues. We couldn't be happier to have made this deal with the Bank of the Ozarks. We have a little more to raise for our capital campaign. If successful, that combined with this debt

Foundation Focus Industrial Partner Profile Client Connection

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reduction will mean we will be debt free on our new facility, including all furniture, furnishings and equipment. There will be such a celebration you will hear it all over NWA. 

Foundation Focus  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Jason and Allison Kidd  Thank you!  Thank you!  Bonnie Wettingel  Thank you!  Thank you!  Thank you!  Thank you!   Nick and Connie White  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Sam and Mary Dunn  Thank you!  Thank you! Thank you!  Thank you!  Thank you!  Christi and Jim Gallagher  Thank you!  Thank you!  Thank you!  Thank you!  Richard and Sheila Howard  Thank you!  Thank you!  Thank you!  Thank you!  Sharon Washburn  Thank you!  Thank you!  Jim and Rhonda Woodruff  Thank you!  Thank you!  Thank you!  Tony Allen  Thank you!  Thank you!  Thank you!  Thank you!  Chris and Connie Horton  Thank you!  Thank you!  Lance Mattingly  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Thank you!  Thank you! Michael Berry  Thank you!  Thank you!  Doug and Beverly Miller  Thank you!  Thank you! Thank you to all of you for being such generous friends of Open Avenues. If you want to be a Generous Friend of Open Avenues Call Allison McElroy at 479-636-5082, or visit the website at www.openavenues.org  

Industrial Partner Profile The dictionary defines reputation as "a favorable and publicly recognized name or standing for merit, achievement and reliability". For the last 30 years Open Avenues has built a reputation for reliability and quality work. Recently a company from Berryville, Arkansas came to Open Avenues with a large project to re-label over 100,000 pieces of jewelry. They were aware of Open Avenues, formerly ADC, because several years before one of the supervisors at the Berryville facility had been employed

Personal Planner:  Helping Children Tomorrow  Parents and children often have a different perspective on saving and spending. Parents of retirement age today were born during the Great Depression or during the 1940s and have a strong desire to save and invest in order to increase economic security. Some of their children may have a different perspective. Because their children did not grow up during adverse economic times, they tend to consume more and save less. Understandably, many of these parents hope that their children could have greater economic security during retirement. Mike and Kristi are recently retired. They have two children, John and Mary. Mike and Kristi bought a lot on an inland waterway when they were in their 40s. But the next year Mike accepted a position in a state that was quite a distance from the waterfront lot. They've owned the lot for over 20 years, but never built on the property because of the distance. Mike and Kristi recently retired at age 65. They have good retirement income, a home that is paid for and good savings. Recently, Mike received a very good offer from a person who would like to purchase the waterfront lot. After receiving the offer, Mike and Kristi contacted their attorney, Steve, to discuss the best way to maximize benefits for them and their children. Mike: "We have been very fortunate. Kristi and I have just retired and we have good income. We both get Social Security and also have two pensions. With that retirement income and our house paid for, we're doing fine." Kristi: "You might remember that we mentioned buying this lot on the intercoastal waterway years ago. But after we moved south for Mike's new


at a Rogers's manufacturer that used ADC. He remembered the positive experience and the quality of work, and even though we are separated by 40 miles, he chose Open Avenues for his project. Achievement, reliability, reputation - all trademarks of Open Avenues and we are proud of them.    Give Open Avenues a chance to show you what our dedicated and reliable workforce can do for your off-line production needs. For more information: dzajicek@openavenues.org or eduncan@openavenues.org    

 

Client Connection OH BROTHER! We must be doing something right when the older brother recruits the younger brother to the Open Avenues program. Michael began our employment training program while still a senior in high school, January 2010 and has made great progress in his employment skills. Wesley graduated from high school May 2011 and recently entered the program. Both young men have tremendous potential and with the skills they acquire at Open Avenues should have bright futures ahead.    

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job, it was just too far to travel. We never ended up building our vacation home on that property. Now we've had an offer to buy that property at a great price. We told the person that we weren't quite ready to sell yet but he still seems to be very interested." Steve: "That sounds like a good offer and a good opportunity. It may be the right time to sell that lot. But you know that there is a lot of appreciation and you will pay a large capital gains tax." Mike: "Yes, I know. We were doing some research and a friend of ours who is a gift planner for a charity said that we could save a bundle with a special trust. He called it a charitable remainder trust. We did some reading online and it seems like a good idea. But we don't actually need the income ourselves." Kristi: "Mike and I like the tax savings. But we thought that maybe what we should do is give the income to John and Mary. They just don't save the way we have. I am very concerned about them. If they don't save more, they are going to need added income during their retirement. With all the financial uncertainty in America today, we would like to see if there is a way to help them." Steve: "Many parents share your desire to provide some added retirement income for their children. You mentioned that charitable trust. Let me show you how a special version of that trust could help John and Mary." "That trust is usually called a unitrust. I am going to explain how a retirement version of that unitrust could work for them. With your offer of $400,000, we could transfer the lot into the trust and after it is transferred, accept the offer. I suggest the $400,000 in the trust be invested for 20 years. With growth over those 20 years, it could increase to perhaps $1.2 million in value. That's of course depending on how the investments would be during that time, but that's quite possible. If we are able to grow to that level, the trust then would pay approximately $2.5 million to John and Mary during their retirement years. In addition, you would receive a tax deduction today of about $42,000 that could save another $14,000 in tax."


Mike: "So if we use that special retirement version of the unitrust, we sell tax-free, get a deduction and the trust grows until John and Mary retire. Then it pays a very good amount to John and Mary. That will very nicely supplement their other retirement income." Kristi: "This sounds like a great use of that lot. It will answer my question on how to provide added retirement income for the children. Let's move forward with this trust." Mike: "Plus, while it's a very long time into the future, there eventually will be a good gift to our favorite charity."

 

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Open Avenues | P.O. Box 908 | 2202 N. 24th | Rogers | AR | 72757


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