Posted: March 16, 2022
If you are researching senior living communities for yourself or a loved one, you will notice there are for-profit and nonprofit senior living organizations. Along with considering the services and amenities, floor plans, and levels of living a community offers, it’s a good idea to consider the values and mission of the community. Learn more about how nonprofit and for-profit senior living communities differ and the benefits of choosing a nonprofit senior living community.
<h2>How Nonprofit and For-Profit Communities Differ</h2>
Most senior living communities are for-profit which means their goal is to generate a return of investment to the owner or shareholders. Financial decisions may be driven by profits rather than mission. For-profit senior living communities run their organization with the fees charged to residents whereas a nonprofit senior living community uses the fees but can also raise funds and receive donations from others.
As a nonprofit community, Casey’s Pond was created for the entire community of Steamboat Springs, Colorado. It began in 2008 when healthcare leaders around the valley envisioned a full-service senior living community in Steamboat Springs. Nonprofit senior living communities tend to have community support in the form of volunteers and donors that care about the mission of the organization.
<h2>Benefits of Choosing a Nonprofit Senior Living Community?</h2>
Both nonprofit and for-profit senior living communities offer a variety of services and amenities and levels of care such as independent living, assisted living, and memory care. Choosing a for-profit senior living community may be the right choice for you or your loved one, but there are benefits to choosing a nonprofit senior living community.
In a nonprofit senior living community, fees are reinvested into the community for items like staff development, building improvements, and financial assistance for residents in need. Some nonprofit senior living communities are affiliated with a faith-based or fraternal organization that guides benevolence and care while being open and inclusive to all. At Casey’s Pond, being a nonprofit community allows us to focus on our mission to be a thriving community that enriches the quality of life and well-being of seniors. Our active retirement community in Steamboat Springs, Colorado provides opportunities for residents to pursue personal growth in a caring, inclusive, pet-friendly community. Read more about our active retirement lifestyle here.
<h2>The Life Plan Community Advantage</h2>
About 80% of all Life Plan Communities are nonprofits. One of the biggest benefits of choosing a nonprofit community is to have access to a continuum of care, also known as a life care plan, which allows residents to age in place as their care needs change. At Casey’s Pond, residents who select the Advantage Life Plan have guaranteed residency and priority access to higher levels of care at a discount. And if you outlive your financial assets through no fault of your own, you can remain in the community you already know and love. Learn five reasons to move to a community while you are still an active adult.
<h2>Affordable Senior Living in Steamboat Springs, Colorado</h2>
Casey’s Pond’s award-winning senior living community offers a variety of floorplans and living options surrounded by majestic mountains. Our Choice Life Plan and Advantage Life Plan pricing includes access to low maintenance living and concierge-style services and amenities, including restaurant-style dining making it an affordable option than owning and maintaining a home in a resort mountain town. Learn more about our residents and their experiences at Casey’s Pond. Contact us for more information or to schedule a live virtual tour.