Deciding on For-Profit or Nonprofit Senior Living
Choosing where to live during your retirement years is an exciting decision to make. Whether you’re looking for independent living, assisted living, memory care or long-term care services, it’s a highly personal choice of where you wish to call your home. Everybody has different priorities — whether it be that the community has an extensive dining program or that you can bring your beloved pet with you. One consideration you may have to make is the choice of whether you are interested in a for-profit or nonprofit community.
While both for-profit and nonprofit senior living communities need to generate revenue, they have different models that allow them to do so. For-profit senior living has requirements for return on investment that results in decisions being made that keep costs low and occupancy high. A nonprofit senior living community, like Springpoint Life Plan communities, is mission-driven and operate on principals such as serving seniors and giving back to the community.
What Does Nonprofit Senior Living Mean?
Springpoint is a nonprofit organization that operates on the belief that residents in our communities — not shareholders — are our top priority. Profits are returned directly to our communities so that we can bring you the highest quality in staffing, dining, activities, healthcare and more. Residents have a voice in the community, and we’re proud to offer the best in senior living though our mission-driven attitude.
As a nonprofit, a major component to our mission is giving back to the community, and we do this through the Springpoint Foundation. “Our mission is to inspire generosity in support of programs that make a difference in people’s lives as they age and enrich the communities where they live.”
The Springpoint Foundation Services and Programs
The Springpoint Foundation makes a difference in the lives of seniors, their family and our overall community through our resident and community partnership programs.
Resident Financial Assistance Program — Financial security for community residents assures that qualified residents, who have outlived their resources through no fault of their own, will never have to leave their community due to financial difficulties.
Spiritual Care Program — Spiritual guidance and support within the communities help residents develop inner resources and spiritual strength to better prepare for life’s changes and transitions.
Affordable Housing Support — Several key initiatives are part of the Foundation’s affordable housing support, including transportation, emergency preparedness, health and wellness. The Foundation oversees Community Cares, a program that provides donations and health essentials for affordable housing residents. Community Cares relies on CCRC residents, business partners and staff members who generously donate funds, time and talent.
Tomorrow’s Leaders Program — An internship experience for young people who are interested in senior living careers, providing educational opportunities to work in many of our communities.
Learn More About Nonprofit Senior Living at Springpoint
More and more often, seniors are recognizing the many benefits of moving to a Springpoint community. With eight CCRCs located in New Jersey and Delaware, we’re sure you’re able to find a good fit to call your home. We invite you to contact us today to learn more or schedule your personal tour.