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Plymouth Place > The Benefits of a Not-For-Profit Life Plan (CCRC) Community

The Benefits of a Not-For-Profit Life Plan (CCRC) Community

Common goals, but different approaches

What’s the difference between for-profit and not-for-profit senior living communities? And what does it mean for you?

Both serve the needs of older adults with good stewardship and the intention to build an enterprise that lasts. However, their governance and financial management are vastly different.

At a Glance: Comparing For-Profit and Not-for-profit Senior Living Communities

FOR-PROFIT    

NOT-FOR-PROFIT
  • Accountable to a parent organization and/or shareholders
  • Accountable to a board of directors who volunteer their time and talents
  • Profit-motivated, with gains distributed to shareholders
  • No expectation of financial gain, with revenues reinvested in the community
  • Decisions guided by the need to maximize profit and minimize loss
  • Decisions are guided by the mission and values of the organization
  • Growth measured by amount of profit
  • Growth relates to the tangible and intangible ways that community life is improved
  • Exit or “cash-out” plan may be part of strategy after meeting a financial goal
  • Long-term plan to build a stable, lasting place in the community
Our strong and lasting values

Plymouth Place™ was founded in 1939 by members of the Congregational Churches (now the United Church of Christ) to honor Christian values and the right of an individual to experience life to the fullest. These values were there from the start, and they continue to guide us today.

“Nonprofit organizations exist for the sake of their mission. They exist to make a difference in society and in the life of the individual.”

Peter Drucker, Managing the Nonprofit Organization

We have a fidelity to our community that’s stood the test of time, and we intend to serve the people who live here for years to come. It’s the source of long-lasting peace of mind for our Residents and their loved ones.

We serve the greater good

Our board members come from diverse backgrounds, but they share a commitment to our values and mission. Their connections to the local community help us plan for the future and effectively manage our resources. And because they aren’t motivated by financial gain, they’re empowered to make decisions for the good of our Residents.

“Not-for-profit providers of aging services have a commitment to quality that comes from a mission of service, a history of compassion.”

British Medical Journal, 2009

We reinvest our returns in ways that support our mission. Revenues that exceed our expenditures are used to improve our community buildings and grounds, serve more people, offer more and better accommodations, recruit and train staff, and offer more and better options for aging well.

We’ve been perfecting senior living

Step through our doors, and you’ll discover a vibrant community that offers genuine friendships, life-enriching activities and hospitality that’s second to none. Your independence and fulfillment are at the heart of everything we do. And we’re the only senior living community in the western Chicago suburbs to offer Comprehensive Life Care, a complete senior living plan to help you control the rising costs of health care. With it, you’ll always have a place to live and to receive the care you need.

May we treat you to lunch?

We’d love to have you for lunch and show you around our community. You’ll get the chance to meet some Residents and find out what it’s like to live here. Do bring a friend or a family member too. R.S.V.P. online, or call 1-708-482-6511 and we’ll be happy to set up a personal tour.

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