Welcome to the time of the year where renewal is the theme. We can’t wait to put away winter jackets, boots, and ice melt. Now is the time to bring out the outdoor furniture, fire up the grill and plan the first gathering of friends and family. We can’t wait!
We strongly encourage you to consider making a 2018 contribution to an Individual Retirement Account (Traditional IRA or Roth IRA) before the April 15th deadline. IRAs feature tax deferral of any earnings (tax-free in the Roth IRA) whether your contributions are tax-deductible. And, they can make a significant difference in your retirement savings if you make it a practice to contribute each year you are eligible. You must have earned income and be below Age 70 to make Traditional IRA contributions. With Roth IRAs, you can continue contributions beyond Age 70 assuming you have earned income.
Here are the limits for 2018: the max total contribution to all IRAs is $5,500 for Tax Year 2018. However, if you are Age 50 by December 31st, 2018, you can contribute another $1,000, for a total of $6,500 for the year. Please contact us for assistance. Please remember to make checks out to Charles Schwab and indicate that the check is for an IRA contribution for 2018 on the check’s memo line. If you don’t have an existing IRA account, please give us a week before the April 15th deadline to establish the account for you!
Billy, we hardly knew Ye
It is with great sadness that we announce that Bill Corvene has left the employ of Compass Rose. Bill has gladly suffered the tough commute from Melrose, Massachusetts for the past five years. It has not been easy on Bill or his pick-up truck! Fortunately for him, he found a job in Boston that is perfect for his skills and allows him to commute on the T with this lovely wife, Nancy. We thank Bill for his contribution to Compass Rose (especially client service!) and we look forward to continuing our friendship with Nancy and Bill. They will also continue as clients, so we will continue to subject them to our wonderful annual meetings!
We are in a giving mood
Compass Rose has always contributed to charities since our inception. But, we have not shared our efforts with you before today. Here is a list of the charities that we were thrilled to support in the past year:
Arts in Reach
A non-profit institution that helps empower at-risk and low-income young women ages 13 to 20 in eastern New Hampshire. The organization cultivates teenage girl’s courage, confidence, and leadership skills through arts and mentoring.
Victoria’s Victory Foundation
A non-profit foundation sponsors a scholarship program the provides wheelchairs, home adaptations, nursing services, handicap vehicles, personal care hours and training/recovery sessions to those with mobility challenges and special needs. The Foundation was inspired by Victoria Arlen who, at age 12, began to experience unidentifiable pain and a decline in health. Her body began to shut down, losing the use of her legs. She also experienced cognitive impairment, head and neck weakness and trouble swallowing. Paralysis from the waist down followed and she began life in a wheelchair. One month later she slipped into a vegetative state, unaware of her surroundings and loses her memory due to brain inflammation. Neurological decline continued as her hands began to curl in an lose function, and she lost her ability to speak. In January 2009, a diagnosis of Transverse Myelitis was given. During a hospital stay, she became aware of surroundings and memory returns, however, without the ability to communicate. Seizures followed. A few months later, Victoria attempted to speak and sign, showing signs of awareness. She began to regain strength. She was introduced to a swimming pool by her brothers. Shortly after, she regained the ability to read. She went back to school at Exeter High School after four years. In 2011, Victoria competed on the U.S. Women’s National Sled Hockey Team and swam in her first Paralympic-style swim meet and set her sights on London 2012. In September 2011, she broke her first American record and qualified for the Paralympic time trails. By May of 2012, Victoria broke the 800 Freestyle world record, followed by two more world records and a spot on Team USA for London 2012. At age 17, she won three silvers and one gold medal, and set a new Paralympic and World Record. In 2013 she graduated high school with her brothers and was nominated for an ESPY Award as Best Female Athlete with a disability. She discovered and trained at Project Walk in California and, with the help of her family, brought Project Walk to the East Coast. By 2015, she began working as a reporter for ESPN at the Special Olympic World Games in Los Angeles. That year, she felt a flicker in her right leg after months of work at Project Walk. By December, she left her wheelchair after ten years and began walking. In 2017, she began Victoria’s Victory Foundation, and appeared on Dancing with the Stars.
Jim is a member of the Board of Directors of the Foundation.
Greenland Parents Organization
A non-profit institution that provides funds for enrichment activities and purchase of materials and equipment for Greenland Central School. The GPO also provides scholarship support for undergraduate education in the form of grants to graduates. And, they run one of the best fundraising golf tournaments every year!
Dana Farber Marathon Challenge
Is a non-profit institution that raises funds for cancer research, especially in cases that affect children. The funds support critical research efforts at the Dana Farber Institute in Boston.
St. John’s Episcopal Church (Portsmouth NH)
The 211-year-old church is our neighbor and they run numerous outreach programs. The Common Table cooks and serves a weekly nutritious meal to all in need. Cooking for Crossroads House is a monthly mission for the Youth Group to prepare a meal for the residents of Crossroads House, the local homeless shelter. Common Cents Economy Shop accepts donations and provides low cost clothing, household items, sheets and blankets to the community at large. The church also prepares a monthly meal for the Salvation Army Soup Kitchen.
Due to your continued support for Compass Rose, we have increased our charitable giving each year. Together, we give back to the community and make a difference to those most in need. Thank you so much for your support in this effort.