Love of Community, Legacy of Giving Back
When Frank Vassa thought about the best way to honor the memory of his late wife, Heather, one thing immediately came to mind: community support.
Heather dedicated her life to her community to make it better for those around her—and one of her greatest passions was healthcare. She worked as the principal of Belle Haven Associates, a nursing home in Quakertown, Pennsylvania, and served as a trustee on the St. Luke’s Quakertown Board for close to 13 years. During that time, the Vassas established an endowment for nursing education at St. Luke’s to support future generations of caregivers.
Two years later, the couple created a charitable gift annuity that paid them an income during their lifetimes and would ultimately provide an unrestricted gift for St. Luke’s Quakertown Campus when they passed away.
Though Heather’s passing at only 70 years old was a terrible loss to the Quakertown community, her legacy lives on through the important mark she and Frank are leaving at St. Luke’s through philanthropy. A plaque with Heather’s name graces the fireplace in the lobby of the new St. Luke’s Upper Bucks Campus, resulting from a cash pledge Frank made toward the Building for a Healthier Tomorrow campaign. Frank also decided to terminate their joint charitable gift annuity because he wanted St. Luke’s to benefit from the proceeds now rather than later, and shared that St. Luke’s is also part of his estate plan.
He has been making annual qualified charitable distributions (QCDs) from his IRA toward the Frank and Heather (Stamm) Vassa Nursing Education Scholarship Fund for Quakertown Hospital. Instead of paying taxes on a required minimum distribution that he doesn’t need, Frank says, “I’d rather make a donation to an organization that is doing good things in our community than spend money on things I don’t really need. More people should take advantage of QCDs to support their favorite charities.”
The couple’s extraordinary generosity has been demonstrated in a variety of ways over the years. And for Frank, giving back is his way of feeling close to Heather. He admits, “I’m not a wealthy person by any means. Heather loved her community, and I consider it an honor to support the organizations she loved.”
Like the Vassas, your legacy can make a difference at St. Luke’s. For more information about how to use your IRA to support St. Luke’s or to discuss other ways to give, contact Gail A. Evans, MBA, CFRE at +1 484-658-0532 or developmentoffice@sluhn.org.