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Shop Smart!

June 16, 2022

Considering a continuing care retirement community (CCRC) for you or a loved one? Be confident your investment is a sound one by asking the following questions when shopping communities.

  1. If a community is part of a larger system, is each one individually incorporated, and is the CCRC a separate entity?
  2. How many residents serve on the board?
  3. Can I receive the community’s year-to-date financials?
  4. What has been the lowest cash on hand during COVID?
  5. Does the community receive money from charity boards or other organizations? If so, can you provide me more details?
  6. Does the community’s monthly expenses exceed its income?
  7. Does the community have a separate endowment for Cap Ex?
  8. Will any new construction or on-campus homes be financed or paid for with bonds?
  9. Does the community have a strategic plan? If so, can I receive a copy?
  10.  Is there a risk-management plan? If so, can I receive a copy?
  11.  Does the community or any of its entities have any pending litigation?
  12.  Does the community have an outside organization that manages its investments? If so, can you tell me who that is as well as the specific investments?
  13.  Is there a resident advisory committee? If so, what are its goals, and who receives the reports from their meetings?

For more information, or answers to these questions at The Legacy, contact us!
Dana Hanks, Sales Director The Legacy Midtown Park [email protected]
Lisa Vellekamp, Sales Director The Legacy Willow Bend [email protected]

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