Why Choose a Not-for-Profit Retirement Community?
Discussions around choosing a retirement community tend to focus on the specifics of location, amenities, and services. But what about the organization behind the community?
Most of us like to investigate companies before we do business with them — whether we need auto service or a haircut. We like to get reviews and recommendations to ensure providers are credible and honest. There is no reason we shouldn’t go through the same process when researching a retirement community. Knowing who owns and operates a community can be important to making the right decision.
For-profit versus not-for-profit communities
There are two types of retirement communities: for profit and not for profit. Easy enough right? One makes a profit for its stakeholders and the other does not. But there’s more than that to the distinction.
For-profit retirement communities are in the business of making money. Their organizational structure may be such that one entity owns the land and buildings, while another owns the operational aspects. In some cases, the operational portion (maintenance, healthcare, dining, etc.) is split up and owned by different companies to help guard against risk and liability. Changes in ownership can also be expected over the long term.
Conversely, not-for-profit retirement communities are run by organizations with a non-profit tax code designation.These communities are driven by purpose rather than profit, reinvesting their monies back into the communities they operate.
Presbyterian Manors of Mid-America is designated as a501(c)(3) charitable organization, which means we do not operate for the advancement of private interests. We are free to act on our principles as a faith-based entity committed to providing quality senior services guided by Christian values.
Benefits of choosing a not-for-profit community
Because not-for-profit retirement communities are not beholden to stakeholders and investors, they are not exclusively focused on the bottom line. There are no worries about cutting staff, amenities and/or services to achieve revenue goals. Instead, the emphasis is on business practices grounded in the ownership organization’s mission and vision.
Residency does not require you to follow a specific faith or belief system. Yet, you will find that non-for-profit retirement communities do have a special ambiance that comes with a resident-centric philosophy. There is an element of trust in one another and a confidence that each person matters.
What makes our community different
AberdeenVillage, a Presbyterian Manors ofMid-America community, is a not-for-profit senior living community that puts our residents and local neighbors above all else. We are a Continuing CareRetirement Community (CCRC) that gives you the freedom to live a secure and comfortable lifestyle — no matter your life stage.
Being a not-for-profit retirement community, we are able to reinvest in the physical, social, spiritual, intellectual and creative spirit wellness of our residents. That’s the big difference here.Come see for yourself.