Annual Report 2022 Highlights

To view the full annual report, please click the button below to download a PDF copy.

president report

The Year in Review! The year brought changes, but we also saw circumstances that stayed the same. Let’s talk about the changes first.

The most noticeable is the campus redevelopment project. A great deal of dirt has been displaced in order to create three (3) new buildings that will soon serve as home for more than 100 people. Many residents and staff
shared with me the project became real for them when the buildings came out of
the ground and they could see what had been up to that point only discussion and dreaming. Now we are about to open the first two buildings, complete the remodeling and finish the construction of the third building, which will open in the fall. Once this occurs, Phase 1 will be completed. Very exciting!

2022 also saw growth for eliseo. With the retirement of the Foss Home and Village’s CEO, it made sense to bring these two Lutheran sponsored organizations together under one umbrella and serve more seniors efficiently and effectively. In the course of this affiliation process, we formed a 501(c)3 parent corporation called Futura Age and created a Board to oversee both organizations. Both eliseo and Foss have retained their own local Boards and each will continue their oversight responsibilities of each campus. They will focus on advocacy, community engagement and recommend strategic initiatives to the parent Board.

With COVID becoming less threatening, both Assisted Living/North Ridge and the Health Center resumed annual, in-person licensure surveys. I am very proud of our staff as we achieved a deficiency free survey in Assisted Living/North Ridge and minimal citations were received during the Health Center annual survey. We maintained a 5 Star rating throughout 2022 and it has continued into 2023. Please thank our staff in both these areas for their tireless dedication to providing the highest quality of care to our residents.

So, what hasn’t changed? To begin with, I continue to be impressed with the level of engagement of our residents through the work of our four councils (Six-Plex, Apartment, Assisted Living and Health Center). I have been honored to work with them throughout the year as they self-governed through different programs, meetings and events. I appreciate the leadership that is displayed by each of our councils and am looking forward to seeing the councils that will be forming when our new residents move in.

All eliseo staff members continue to provide outstanding customer service to our residents. I find it extremely heartwarming to walk through our campus and see the employees in action, working to meet resident needs and enhance their lives here at eliseo. Caring, concerned and compassionate employees has been a tradition since we first opened our doors in 1938 and this will continue as we move into the future.

Lastly, our Board of Governors and Trustees have put in many hours of selfless service over this past year, as they have in years past. I appreciate their dedication to staying informed and educated on the changes that are occurring at a rapid pace in senior services and their thoughtful, intentional and comprehensive decisions that will ensure eliseo residents will be well taken care of and lead enhanced lives. Our mission statement says it best: Engaging lives through active living, compassion and dignity. Very powerful words and I thank the Board members for all they do.

As we embark on 2023, I am comforted by what Jeremiah 29:11 tells us: “For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm you, plans to give you hope and a future.” I have previously shared this scripture, but it is so reassuring that it bears repeating. Thank you for all your support in 2022 and looking forward to a rewarding 2023!


R. Kevin McFeely
President and CEO
Ex officio kevin mcfeely

board of governors

board of governors chair

In 2022, eliseo has continued to provide quality services to and with residents for the well-being of the whole person – physical, social, emotional & spiritual. The Board of Governors greatly appreciates the work the staff has done to fulfill the mission of engaging lives through active living, compassion and dignity, and maintaining eliseo's 5-star Medicare rating, especially in the face of the continuing concerns related to the on-going presence of COVID infections and the disruptions caused by the construction.

It has been with great joy and anticipation that we have watched the building of the new independent living units and the remodeling of the existing building. The Board is looking forward to their completion. We appreciate the grace with which the residents have accepted the trials of living through the construction.

But even as the buildings are completed and new residents move in, the Board has been active in developing an affiliation with Foss Home and Village in north Seattle. We enter this affiliation with the expectation it will strengthen both organizations in the ever-changing world of senior living. The affiliation mostly affects governing structures and not the daily life at eliseo. There will continue to be an eliseo Board of Governors, but its role and responsibilities will change.

We are looking forward to 2023 with the completion of the new buildings and remodeling. We will continue to work with Kevin McFeely in maintaining the mission and vision for eliseo even as we plan for a sustainable future.

Thanks to the members of the Board of Governors for their commitment and support for the work of eliseo. Thanks to the Covenant Congregations for their participation in eliseo as an extension of their own ministry.

Please continue to hold eliseo, its residents, staff and volunteers, in your prayers.

The Rev. Ron Kempe
Chair, Board of Governors


Ed Larson

eliseo foundation

Dear Friends,

Because of your generous investments over the past year, we are able to make a difference in the lives of eliseo residents we serve and the community we call home.

Thank you! I am inspired by our donors, residents and staff who have risen to the challenge and are dedicated to supporting the

eliseo foundation and eliseo. Whether you gave to the foundation directly, contributed with a Legacy Society or estate gift or participated in our gala, each and every one of you were so generous with your giving and we cannot say thank you enough.

The extraordinary generosity of our donors have allowed us to assist in meeting the needs of those eliseo serves. As a resident myself, I am grateful to have eliseo as my home and for the friends I have made here and I know that none of this could be possible without your support.

In October, the eliseo foundation brought back our annual gala and auction event with 2022 Adventure Awaits Us: A Night in Venice. After a 10-year hiatus, we felt 2022 was the right time to celebrate again with our family and friends. Held at Tin Can Alley, we raised more than $84,000 for eliseo and are looking forward to this year’s gala, A Night in Cairo, to be held Saturday, October 14, at Foss Waterway Seaport. We hope that many of you will join us again then for a fun evening as we celebrate eliseo and the community and continue to raise funds for programs that support our residents.

Also in 2022, Rev. Phillip and Mary Rue served as our honorary chairs for our Annual Fund Drive. Thanks to their leadership, our end-of-year campaign raised more than $42,000 (almost double our 2021 goal!).

The Rues have a deep connection to eliseo and are charter members moving into our new Villa Residences Spring 2023. We can’t wait to have them on campus and are grateful for their help with this past Annual Fund.

We held our annual Enthusiast Club luncheon in October at the Mortvedt Center as well as a Toast to Summer party in June in the Arneklev Family Gardens and teamed up with the eliseo sales department for a special Antiques Discovery event in August. We have a few events planned in 2023 for our Enthusiast Club members, so please make your donation soon to be an Enthusiast Club member so you don’t miss out on any upcoming events!

Finally, we added three new members to our Board of Trustees: Edna Shim, Lisa Taylor and Robert Norman. Each of them bring a wealth of knowledge, expertise and passion and we are excited to have them on our board and to have them serve you at eliseo.

The work we do at the eliseo foundation is only possible because of you. This report illustrates what we have accomplished together. We look forward to continuing our partnership with you to ensure everyone at eliseo has access to the community they need in order to thrive.

Ed Larson
Chair, Board of Trustees

Your donations goes above and beyond what we could have ever hoped to imagine. Sincerely, thank you for all of your incredible help.


eliseo foundation 2022 Lists

financial report

financial report

As we examine 2022’s financial performance let’s first look at a few extraordinary factors.

Our new construction is funded by a public offering of tax-exempt bonds. In these beginning years of our expansion, during construction and occupancy stabilization, funded interest net of income is booked as an operational expense.

Below the line, in the non-operating area you can see the impact the financial markets had on our investment portfolios. 2022 provided a double hit as the S&P 500 lost 19%. Combining this with rising interest rates, we added losses in the fixed income portfolios.

Regarding operating revenue, the census in our Health Center continued to recover during the year. With one admission shut down in the beginning of the year, our Health Center occupancy began the road to recovery. By the July/August time frame, we not only returned to budgeted census but began to eclipse those levels.

On our independent and assisted living side, occupancy remained strong during most of the year, only showing some weakness during Q4 driven by multiple vacancies in a short period of time.

Expenses both tied to staff and operations experienced upward pressure driven by inflation not seen since the 1970s and early 80s. This caused some budget deviations which were managed accordingly.

eliseo continues to allocate dollars to invest in capital improvements, particularly around aged plant and equipment as well as increased campus security.

2023 will provide the completion of our Phase I expansion project and all the accompanying benefits provided to both existing and new residents. Taking operational finance from plan to practice always brings the unexpected, and eliseo is ready to move forward towards a bright future.

David Hoffman
Chief Financial Officer
eliseo cfo david hoffman

2022 Overview

Resident and Staff Events and Programs

Organizations we proudly supported in 2022.


Organizations we proudly supported in 2022

Peace Community Center

Comprehensive Life Resources

Lutheran Community Services in the Northwest

Lutheran World Relief

Symphony Tacoma

church covenant

Agnus Dei Lutheran Church

Bethany Presbyterian Church

Bethany Lutheran Church

Christ the King Lutheran Church

Lutheran Church of Christ the King

Mount Cross Lutheran Church

Peace Lutheran Church - Puyallup

Peace Lutheran Church - Tacoma

Redeemer Lutheran Church

Resurrection Lutheran Church

St. John's Lutheran Church

St. Mark's Lutheran Church

Trinity Lutheran Church United Lutheran Church