Newton Village — an independent living, assisted living, and memory care facility — has received a donation of $2,500 from CoBank on behalf of Jim Magnuson, a member of the cooperative’s board of directors. The money will be used to help support construction of a new Skilled Care Health Center.
CoBank’s gift to Newton Village’s “Building for the Future” campaign will help finance the $3.85 million center, which will provide current and future residents with a level of care that is not now available on the campus. The health center will include 24 private or semi-private rooms, an activity room, spa/hydrotherapy area, dining room and chapel.
“Currently, a tenant who needs skilled care has to move to another facility, and that kind of change can be difficult, especially for married couples,” said Gary Shebeck, administrator of Newton Village. “We greatly appreciate CoBank’s gift, which will help us reach our financing goals for the center and allow us to provide continued, quality care to our residents who need round-the-clock assistance.”
About $160,000 of the total goal of $300,000 in private donations has been raised to help finance construction of the health center, scheduled for completion in spring 2014. Newton Village serves Newton and Jasper County and currently is home to 100 residents.
Magnuson is the general manager and CEO of Key Cooperative, an agricultural grain marketing and farm supply cooperative serving 15 communities in central and south central Iowa. He joined the CoBank board in 2013.
“As more baby boomers retire and transition into different phases of their lives, it is important for families to know that compassionate, quality care is available to them in one place,” Magnuson said. “CoBank is honored to help ensure that Iowa residents, who have given much to our state, will be able to live out their years in a stable, comfortable home environment.”
The contribution is part of CoBank’s corporate giving program, which allows employees and board members to direct bank donations to their choice of non-profit organizations and programs. Through the program, CoBank donated more than $1.2 million last year to benefit local communities where its employees and directors live and work.