Asbury Communities has welcomed a new partner into the fold — and, in the process, it’s made strides toward diversifying the services it offers. The Frederick, Maryland-based senior housing and care nonprofit on Monday announced an affiliation with Albright Care Services, an organization that operates two continuing care retirement communities (CCRCs) servicing a total of […]
Category: Non-Profit
In 2013, the San Francisco Campus for Jewish Living (SFCJL) was facing a dire situation. Reimbursement cuts being contemplated by the state of California posed a serious threat to its skilled nursing-focused business model, and the organization’s leaders recognized that they needed to radically reinvent the nonprofit to safeguard its future and continue to fulfill […]
In 2014, Presbyterian Retirement Communities Northwest (PRCN) was a small and struggling provider with three communities in the Seattle area. Fast-forward to the present day, and the organization has rebranded as Transforming Age, serves about 10 times as many seniors, and is pursuing further innovation and expansion — including through the $150 million Olympic Tower […]
Non-profit life plan communities can expect another year of stability in 2020, but there are some factors that could complicate the landscape in the future. That’s according to a new report from Fitch Ratings, which on Wednesday released its annual outlook for U.S. not-for-profit life plan communities. As in previous years, those communities should expect […]
A partnership with tech-forward home care startup Honor has enabled senior living nonprofit Eskaton to boost revenue and smoothed the organization’s expansion into new markets. But the partnership did not get off to an auspicious start. Sacramento, California-based Eskaton completed its transition to the Honor platform in Dec. 2018, and issues emerged soon after. “By […]
Last week marked the official grand opening of Ventana by Buckner, a $240 million high-rise continuing care retirement community (CCRC) in Dallas. Ventana is part of a crop of urban CCRCs rising across the country, and it stands out for the numerous partnerships that it has forged with high-profile organizations in its local market, including […]
Like many other senior housing and care nonprofits, St. Ann’s Community has a long and successful track record, but the organization has been making some big moves to keep pace with a rapidly changing operating environment. Michael McRae joined St. Ann’s a decade ago and became CEO five years ago. In that time, St. Ann’s […]
A continuing care retirement community (CCRC) owned by senior living nonprofit Lifespace Communities has filed for Chapter 11 bankruptcy. The 283-unit community, The Stayton at Museum Way in Fort Worth, Texas, defaulted on liabilities related to bonds issued in the amount of $109.7 million, including interest, according to a bankruptcy notice filed in the U.S. […]
Nonprofit senior living providers have shown an increased appetite for growth through affiliation and expanding existing campuses in recent years. Yet an aversion to risk born out of the post-2008 economic downturn has the sector trailing its for-profit peers. These trends are on display in the 16th annual LZ 200 list of top nonprofit providers […]
Nonprofit senior living providers have historically driven innovation in the field, but there is some concern that they are being eclipsed in this regard by for-profit competitors that are controlling more market share, can bring capital to bear more quickly and have a higher risk tolerance. The differences between nonprofits and for-profits may not be […]