Lighthouse International Shared Vision Spring 2011 “When I think what noble work you have done, I feel glad and confident of your success.” – Helen Keller, 1908 Lighthouse Annual Report President’s Message Welcome to the spring 2011 issue of Shared Vision, our newsletter for friends and donors, demonstrating how your generosity makes a tangible difference in the lives of people with vision loss today. We’re also bringing you information from our Visionary Philanthropy newsletter about how your planned gift can help to secure the Lighthouse for tomorrow. We’ve combined the two to illustrate that there are numerous ways to support our mission of fighting vision loss through prevention, treatment and empowerment. No matter how you choose to give, it is always meaningful and we remain most grateful. The beginning of this year brought some exciting new developments, including the opening of The Dr. Lorraine Marchi/NAVH Client Assistance Program. It provides counseling and social support services to bolster the ability of people to cope with the life-altering impact of vision loss. In this issue, we also introduce you to some special people who share a bond: they’re each descendants of our founding families and early supporters. We also call these pioneers our first “ambassadors” because they embraced — and advanced — the vision of Winifred and Edith Holt, who dramatically changed the landscape for people who were blind at the turn of the 20th century. The Holt sisters were steadfastly committed to ensuring that people without sight had access to previously unavailable education and training programs. Together with their fellow Lighthouse officers and committee members, the Holts were also advocates for the prevention of blindness. Today, our work extends a long and proud legacy of inspiring firsts in the fields of low vision clinical care and rehabilitation, research, education and advocacy. The Lighthouse remains committed to the same core principles that our founders upheld — and shares their dedication to eliminating barriers and obstacles for people with impaired vision. We also look forward to the day when eye diseases such as macular degeneration and diabetic retinopathy are eradicated. Until then, we look to you for continued support. On behalf of everyone who turns to the Lighthouse for help and hope, thank you. Mark G. Ackermann President and CEO Shared Vision A publication of Lighthouse International Laurie Silbersweig, Editorial Director Jaine Schmidt, Director of Creative Services Judith Moderacki, Senior Designer Dorothea Anne Lombardo, Production Manager Photos by Wilson Lee, James Lewis, Dorothea Anne Lombardo, Rob Wayne; POSH illustration by Bil Donovan Copyright © 2011 Lighthouse International To join our mailing list, e-mail info@lighthouse.org This newsletter is available in alternate formats and online at lighthouse.org A Tribute to Our Founding Families Lighthouse International began the new year with an appreciative look back to its roots. The occasion was a gathering for descendants of our founders, earliest Board members and benefactors — without whom the seeds of our now world-renowned organization would never have been sown. Dateline 1905 When sisters Winifred and Edith Holt opened up their family home to help people who were blind, they ushered in a new era — and unprecedented possibilities — for people without sight to gain the skills needed to earn a living, provide for their families and become self-sufficient. But they didn’t do this alone. The industrious Holts called on their friends and fellow charitably minded members of New York City’s society to donate their time and funds to launch the Lighthouse. A corps of influential supporters rose to the challenge and helped to initiate the young organization’s broad-reaching job training, home teaching, social service, eye care and blindness prevention programs. New York’s Leaders and Social Elite Heed the Call Early Lighthouse officers, trustees, advisors, social committee patrons and patronesses were members of some of the most prominent families at the turn of the 20th century — and today. They include such last names as Tiffany, Morgan, Carnegie, Roosevelt, Schurz, Auchincloss, Frick, Whitney, Phipps, Warburg, Loeb, Butler, Hewitt, Choate, Juilliard, Peabody, Schiff, de Forest and Low, among others. These philanthropists ranged from debutantes and socialites to captains of industry and university presidents; from senators to archbishops; and from US ambassadors to Supreme Court Justices. They comprise a virtual “who’s who” of the day — some self-made, and some born or married into families with wealth and status earned from their contributions to the worlds of medicine, banking, industry, law, higher education, publishing, the arts and letters, the clergy, politics, government and global diplomacy. Their comings and goings, marriages and parties — as well as their charitable activities, including those for the Lighthouse — were recorded regularly in the society columns. Some women who held early positions on key Lighthouse committees also left their mark as social reformers, educators and advocates for women, children, immigrants and the poor. Names like Louisa Lee Schuyler, Lillian Wald and Martha Lincoln Draper top the list. Adding notoriety were some first Lighthouse officers — Helen Keller, Vice President; Annie Sullivan Macy, Helen Keller’s teacher, a member of the Advisory Board; and Mark Twain, an Honorary Vice President. Fast Forward 100+ Years: Descendants Gather The Lighthouse invited descendants of some of these early ambassadors and philanthropists to celebrate their family connection with us. The event was an afternoon tea in The Plaza Hotel’s Palm Court. The Plaza, our neighbor and fellow landmark New York City institution, opened its doors just two years after the Lighthouse was founded. Very quickly, The Plaza became the venue for several Lighthouse grand balls, beginning in 1908. The following special guests joined us for our 2011 tea: Samuel Hopkins, a grandson of our co-founder, Edith Holt; Thomas S.T. Gimbel, a devoted Lighthouse Board member and visionary philanthropist, whose grandmother, Alva Gimbel, and other friends joined the Holt sisters as early Board members and patrons; Whitney Douglass, Victoria Donaldson and Lisa Pulitzer Love — all descendants of the Pulitzer family; Elisa Miller-Out, a Tiffany descendant; and Alexander Peters, along with his daughters, Maude and Louisa — all Warburg descendants. It’s no surprise that this special event was covered in the New York Social Diary! Photo captions: * Samuel Hopkins, left, Whitney Douglass and Thomas S.T. Gimbel — three descendants of our founding families * Winifred Holt Providing Invaluable Social Support The Dr. Lorraine Marchi/NAVH Client Assistance Program at Lighthouse International is offering a brighter future for people with vision loss. The new program was dedicated several weeks before Dr. Marchi passed away in February. Last year, the Lighthouse acquired the National Association for Visually Handicapped (NAVH), which Dr. Marchi founded in 1954, after learning that public schools lacked large-print textbooks needed by her son, who is visually impaired. After printing and distributing them herself, she added services, including support groups to help people cope with the emotional difficulties vision loss often leaves in its wake. Depression, along with emotions such as anxiety, anger and frustration, are quite common. These can be formidable challenges for anyone; until they’re addressed, they can also impede a person’s ability to benefit from low vision and rehabilitation services, which are designed to restore confidence and independence. That’s why it’s so important to provide counseling, support groups and social services that help people adjust, express their feelings and share their experiences with others. This program, which continues Dr. Marchi’s legacy, also provides access to a network of additional services and helpful resources our clients may need when they take their initial steps toward rehabilitation. If vision loss is interfering with your quality of life, or that of a loved one, call us at (800) 829-0500 or visit lighthouse.org. Photo caption: From left, Executive Vice President Ted Francavilla,  Deborah Marchi, and President and CEO Mark G. Ackermann with the late Dr. Lorraine Marchi, seated Join Us for Spring Filomen M. D’Agostino Greenberg Music School Concerts April 15 • 7 pm • 15th Annual Lighthouse at the Met Concert: “Musical Postcards from the Met — Travels Through the Permanent Collection” (The Metropolitan Museum of Art, 1000 Fifth Avenue, New York City) May 21 • 2 pm • Comprehensive Music Program for Young People spring instrumental recital May 24 • 6 pm • Jam 59 concert (contemporary pop/rock ensemble) June 4 • 2 pm • Comprehensive Music Program for Young People showcase of classes and ensembles June 11 • 2 pm • Comprehensive Music Program for Young People students present a National Dance Institute showcase Events are held at Lighthouse International, 111 East 59th Street, New York City, unless otherwise indicated. For more information, call (212) 821-9660 or visit lighthouse.org. SAVE THE DATE: October 22 2nd Annual Double Up 4 Vision 2 Fight Vision Loss Tandem Bike Ride/Walk Fundraiser Form a team … join a team … learn more and register today at doubleup4vision.org! High Fashion Meets High Tea During our special tea for descendants of Lighthouse founding families, we also launched our annual POSH® season in New York City — and a series of more than 30 POSH® “Bring a Treasure” Teas hosted by our supporters for their friends. These teas are designed to encourage invitees to donate fabulous pieces from their personal wardrobes to the POSH® sale, our signature fashion fundraiser. Thank you to all those who donated! Join Us for a POSH® Week of Events — All at The Plaza Hotel! A POSH® Affair • May 9, 7 pm, honoring: Kim Baker Campbell, POSH Co-Founder, POSH Lifetime Visionary Amy Fine Collins, Special Correspondent, Vanity Fair, POSH Fashion Visionary Linda Fargo, SVP, Women’s Fashion Director, Bergdorf Goodman, POSH Lifestyle Visionary For tickets, call (212) 821-9428. Sneak Peek Benefit Preview • May 11, 6 – 9 pm For tickets, call (212) 821-9445 or visit poshsale.org. Public Sale • May 12 – 14, 9 am – 6 pm, and May 15, 11 am – 5 pm Admission: $10/door or $30 for a four-day pass The YLC Spreads Cheer! Members of the Lighthouse Young Leadership Committee (YLC) helped to bring joy to the children and families we serve, by participating in our third annual Children’s Holiday Festival. The YLC, a volunteer leadership group committed to supporting and promoting our mission of fighting vision loss year-round, also generously donated 27 gifts for children who attended — and went home with big smiles. VISIONARY PHILANTHROPY: Insights in Estate and Financial Planning A Gift with a Touch of Old Hollywood Glamour Radio actress, singer, art consultant and philanthropist, Lorraine Allen was each of these. During her lifetime, she was also a Lighthouse friend and donor. Upon her passing, she left a lasting impression on our organization through a generous bequest in her testamentary trust; we received one-third of the remainder of her trust, which totaled more than $2.55 million. Raised in California, Ms. Allen worked in the entertainment industry, which brought her into contact with well-known musicians, including the Catalan-born bandleader, Xavier Cugat, to whom she was married briefly. He was also a recording artist known as the “Rumba King,” who helped to make Latin music popular in the US in the ’40s and ’50s. They lived in a famous Hollywood estate, which has its own dramatic history. Ms. Allen became interested in issues relating to low vision and blindness through her friend, Dr. Jules Stein, an ophthalmologist. He was also a musician and agent, who left medicine to build a small band booking agency into the billion-dollar entertainment producer, Music Corporation of America (MCA), which represented half of the movie industry’s stars by the late ’40s. He remained interested in eye health issues and later established an eye institute at UCLA. When Ms. Allen moved to New York City, she took her heightened awareness from Dr. Stein and interest in vision issues with her, becoming an avid supporter of the Lighthouse, and our research and services for older adults. Through her bequest, Ms. Allen has provided sorely needed support past her lifetime for all our programs and services, for which we are most grateful. If you would like to leave your own legacy of support to the Lighthouse, please contact Annette Dorsky, Director of Gift Planning, at (212) 821-9443 or adorsky@lighthouse.org. Reap the Benefits of New Tax Laws The Lighthouse is pleased to share information that can benefit you, your heirs — and our organization. At the end of last year, Congress passed a wide-ranging package of income and estate tax changes known as the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.” The Act included provisions to: * avoid income tax increases, which otherwise would have taken effect in 2011 reduce the number of estates that will owe federal estate tax * encourage charitable contributions The new law also continues favorable income tax rates, deductions and credits; and extends various tax breaks through 2012 — taxes on qualified dividends and most long-term capital gains remain capped at 15%. Additionally, this legislation temporarily repeals cutbacks in personal exemptions and itemized deductions for people in high-income tax brackets. More changes were introduced at the beginning of 2011; the most notable being the reinstatement of estate taxes for people with more than $5 million. Estate Planning: What You Can — and Should — Do While most of us don’t have estates even as large as $5 million, we can ALL take advantage of the 2010 legislation. The elements of basic estate planning include: having a will, a living will and revocable living trusts; as well as financial and health care powers of attorney, and coordinated beneficiary designations. All of these components are designed to ensure that your wishes during, and after, your life are carried out. For example, without a valid will, decisions about how to distribute your assets — and to whom — will fall to the State. Having an estate plan will also enable you to reduce estate expenses such as probate, state death taxes and income taxes on retirement accounts. The Lighthouse encourages you at this time — with the new and more advantageous laws in place — to make an estate plan, if you haven’t already. And if you have one, now is an ideal time to consult with your estate planning attorney about updating it to reap the maximum benefits. You may find that the larger credit will allow your estate to pass totally estate tax-free, making it possible to include bequests that will continue your support of the Lighthouse long after your lifetime. Ask Us About Naming Opportunities! If you include a Lighthouse bequest, please let us know, so we can offer you a number of special naming opportunities in our headquarters, which will enable you to leave a proud legacy for future generations. And when you include a bequest for us in your will, you’ll join The Holt Society — named for the visionary sisters, Winifred and Edith Holt, who founded the Lighthouse — one of our most honored groups of supporters. To learn more, send for our free booklet, Planning Your Bequests, using the enclosed card. You can also contact Annette Dorsky, Director of Gift Planning, at (212) 821-9443 or adorsky@lighthouse.org; or Hope Kessler, Senior Vice President of Individual Giving, at (212) 821-9426 or hkessler@lighthouse.org. When working with your attorney and preparing your will, the following is recommended language for making a bequest to Lighthouse International: “I hereby give, devise and bequeath to Lighthouse International, a New York not-for-profit corporation with headquarters located at 111 East 59th Street, New York, NY, the sum of $_____ [or ____% of the rest, residue, and remainder of my estate] for its general purposes.” Make a Gift from Your IRA Before 2012 The federal government has extended the law allowing people age 70 1/2 and over to arrange direct charitable gifts from their traditional and Roth IRAs — up to a maximum of $100,000 — through the end of 2011. This law does not apply to gifts made from other retirement plans, such as pensions, 401(k) plans, etc. To make an IRA gift to Lighthouse International, contact the custodian or trustee of your account. Please also call our office, so we can ensure the proper transfer and provide you with a receipt for your contribution. Please note: If you withdraw funds and then contribute them to the Lighthouse, the amount will be included in your gross income and, therefore, subject to tax. That’s why it’s vital that your IRA custodian or trustee make the transfer of funds directly to the Lighthouse and not to you. While this gift doesn’t provide you with a charitable deduction, it will save you more in taxes because it reduces the amount of your total income subject to tax. To learn more about this win-win gift option, please contact Annette Dorsky, at (212) 821-9443 or adorsky@lighthouse.org. Secure an Income for Life with a Lighthouse CGA! If you’re seeking an antidote to the volatility of the stock market and/or low CD rates of return, charitable gift annuities (CGA) are ideal. They’re also great for retirees who want a stable “income they can’t outlive.” In return for your gift of securities or cash, the Lighthouse will pay you (or others you select) a fixed income for life. Payout rates depend on your age(s), and range from approximately 5-9.5%. Here are sample rates: Single-Life Two-Life Age Annuity Rate Ages Annuity Rate 65 5.5% 70/70 5.4% 70 5.8% 70/75 5.5% 75 6.4% 75/75 5.7% 80 7.2% 80/80 6.3% 85 8.1% 85/85 7.1% 90 9.5% 85/90 7.5% Now is an opportune time to establish a new CGA. When you do, you’ll receive an immediate charitable income tax deduction. To learn more, send for our free booklet on CGAs using the enclosed card, or contact Annette Dorsky at (212) 821-9443 or adorsky@lighthouse.org. Our mission: We are dedicated to fighting vision loss through prevention, treatment and empowerment. Roger O. Goldman Chairman of the Board Mark G. Ackermann President and CEO DONATE To make a gift to Lighthouse International, call (212) 821-9425 or e-mail gifts@lighthouse.org To make a secure credit card donation online, visit lighthouse.org SHOP For vision-friendly products, visit shop.lighthouse.org