[Updated: November 22, 2021 | Published: November 22, 2021]
“What is the difference between nonprofit and for-profit senior living communities?” is one of the most common questions we hear from prospective residents and their families.
Perhaps the biggest difference is that all money earned by or donated to a nonprofit goes towards fulfilling the community’s core mission. As a result, well-managed nonprofit organizations reinvest profits in continual improvements.
For-profit senior living communities ultimately answer to owners instead of residents and must return a profit to shareholders.
Many for-profit communities belong to large national chains, which can mean that national executives dictate local management. According to Senior Housing News, the largest for-profit communities own hundreds of properties with thousands of units.
At Friendship Village of Dublin, a local leadership team and all-volunteer board of directors manage our community in the best interests of residents and associates. Active charitable giving programs and a solid financial foundation enable us to invest in improvements to our facilities, services and standards of care.
40 Years of Mission-Driven Management
Over 40 years ago, a local group committed to serving central Ohio seniors set up Friendship Village of Dublin as a 501(c)(3) tax-exempt organization. That status allows us to operate as a charitable organization, reinvesting funds into improving our community.
“At Friendship Village of Dublin, our mission is our bottom line,” said Executive Director Rita Doherty.
Our mission is to enhance the quality of life of older adults. Our vision is to be central Ohio’s premier provider of high quality, comprehensive, cost-effective, LifeCare services for older adults.
“As a nonprofit senior living community, every decision we make supports our mission and vision for the benefit of residents,” Rita said. “We help residents thrive The Village Way—through nine dimensions of wellness supporting a healthy, balanced lifestyle. ”
Local, All-Volunteer Board of Directors
At Friendship Village of Dublin, a 17-member Board of Directors manages our nonprofit senior living community.
The board hires our executive team and helps us fulfill our mission through sound, ethical, and legal governance.
Board members also interact with residents and listen to their input. In fact, residents can play an active role in decision making by serving on committees reporting to board members.
“We’re proud that several former board members have become Friendship Village of Dublin residents,” Rita said. “There can be no higher testament to the quality of our community.”
Charitable Giving Programs Enhance Our Mission
Tax-exempt nonprofit senior living communities like Friendship Village of Dublin can accept charitable donations from a wide range of sources.
“Generous charitable giving supports our mission and provides extras that help residents thrive,” Rita said.
Programs include the Residents Benevolence Fund, which enables long-time residents whose financial circumstances have changed unexpectedly to continue receiving all the benefits of LifeCare.
Many residents remark on how much they enjoy our lush landscapes and community gardens. In recent years, charitable giving has funded a sculpture and expansion of our Selene Garden and our new Friendship in Bloom horticultural therapy program.
Through charitable giving, residents also give back to our associates to express appreciation for the excellent care they provide. Since 2000, they have provided over $200,000 in scholarships for associates and their family members.
Our new emergency assistance fund distributes grants of up to $500 to associates who encounter unexpected hardships.
Each giving program has its own resident committee that helps decide how to distribute funds.
Solid Financial Foundation Funds Master Plan
In 2015, Friendship Village of Dublin embarked on a master plan to meet and exceed the needs of residents in the years to come.
Our nonprofit community offers a vibrant lifestyle at every age, with state-of-the-art independent living, assisted living and skilled nursing on campus.
The Master Plan enhanced all levels of care, including these highlights:
- In 2017, we opened The Flats at River Point, a 51-apartment luxury independent living building with in-ground parking.
- 2020 saw the opening of our new Waterford Assisted Living.
- And in October 2021, we opened the state-of-the-art Alderwood Health and Rehab transitional care center, with 36 spacious suites for skilled nursing and rehabilitative care.
With a BBB+ Fitch rating, our community is well-positioned to keep building our financial strength to support an exceptional lifestyle and quality of care well into the future.
Enjoy a Worry-Free Lifestyle
Friendship Village of Dublin is your place to thrive! Come home to carefree living, compatible companions and engaging activities on our scenic, 29-acre campus.
All independent living apartments come with LifeCare – an all-in-one package of flexible services, abundant amenities and future health care if needed at a predictable cost, giving you more freedom to enjoy your active, independent lifestyle.
Schedule a Personal Tour Today
If you want a secure plan for the future in a nonprofit community that’s managed for your benefit, you owe it to yourself to explore Friendship Village of Dublin.
Visit us to learn about the many advantages, amenities and services we offer to help you live life to the fullest at every age.