November 11, 2007
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November 11, 2007 |
Corporate Updates
Foundation Funding and Benefactors
Early December Funding Events
Through the tireless efforts of the Board Members, Elder LifeCare Foundation was introduced to a company that has taken a great interest in the mission and global projects of the foundation. The company, Treasure Financial Services LLC of Denver Colorado, has offered the Foundation use of its UBS Bank held assets sufficient to start the foundation's operations and to provide continuing funding opportunities to sustain its projects. Initial funding is in the amount of 150 Million Euros to be assigned as lien in favor of the Foundation's bank account to establish the collateral guarantee necessary for the Foundation to continue to pursue its credit line with Wachovia Bank. The Foundation has pledged its intellectual property patent to Treasure Financial Services LLC as security for their risk and participation in helping the Foundation achieve its goals.
Continue with Wachovia
After several years of hard work and negotiations with Wachovia Bank's Healthcare division headquartered in Richmond, Virginia, ELF will return to the Bank to complete work on funding for its Richmond project, elder housing and healthcare relief for the archdiocese of the Catholic Church in Virginia. The credit line request is $200 Million, the assignment of the UBS lien is for $219 Million. ELF hopes and expects to complete work on Funding with Wachovia to start project work in early 2008.
Blood Nation, Siksika and Blackfeet Nation Project Funding
Capital Requirements to begin work on North American Native American Elder Projects will also be generated from funding derived from Wachovia. This project is a continuation of many years of close work with Dr. John Cull, one of the Two Founders of the Elder LifeCare Foundation. Before he died, Dr. Cull asked that preference be given to Native American Projects and that the program begin with the Blood Nation and Siksika. The Blackfeet in Northern Montana would become beneficiaries in the second year of project funding.
Philippine Project Funding
Two individuals attracted to the mission of the Foundation have sought to bring the Foundation's projects to their homeland, the Philippines, which generationally has been plagued by social problems and extreme poverty. In their efforts to find the funding necessary to begin, two high net worth individuals living in the Philippines have been approached to help facilitate the Foundation's capacity to study the problem and to launch a solution. Both individuals have expressed interest in the Humanitarian mission of ELF, one of whom is currently prepared to begin steps to assist on funding. To facilitate the legal requirements of that project, ELF will establish a wholy independent branch chartered in the Philippines.
Sun West Bank, Reno, Nevada
In order to bring the value of its projects to its home in Reno, Nevada, the Board of Directors authorized the establishment of banking relationships in the regional banks of the State of Nevada. Board Member, Mr. Thomas Brooksbank of Reno, Nevada suggested that the Foundation set up accounts in the Sun West Bank which has branch locations in Las Vegas and Reno.
Honor Roll
Special Thanks to persons who have made unusual sacrifices to advance the Foundation's Funding agenda.
Final Words for November 2007
In the last 5 years, Senator Allen's Office (which kindly issued a proclaimation of recognition), VCU Medical Center and Wachovia Bank (and formerly First Union Bank) have been involved in a number of conferences and discussions on how the Elder LifeCare Foundation could gain traction on its funding agendas. There were many strategy papers and proposals that were shared that, besides setting the framework for our mission to raise quality of life standards for elder people, set the stage for some collaborative agendas with the State Government, the Medical Center and the Bank.