Mission: To establish,own,and maintain charitable continuing care retirement communities which provide housing, health care services, food services, security, and other ancillary services to elderly persons.
Programs: Riverwoods has one primary program service, to establish, own and maintain a continuing care retirement community which provides housing, health care services, food services, security and other ancillary services to elderly persons. On june 30, 2015 the community housed approximately 493 residents in independent apartments and 118 residents in the health care centers. Over the course of the year the health care centers served in excess of 200 residents on a permanent, temporary, or per diem basis at a substantially discounted rate. The "contractual allowance" (i. E. Writeoff) related to care provided for lifecare residents was in excess of $10,800,000. 00 for the fiscal year ended june 30, 2015. This is an average discount of 76% versus the standard monthly private pay rate in area nursing homes and assisted living facilities.
We signed a lifecare contract with Riverwoods after checking 20 accredited CCRCs on both coasts. It has an excellent track record since opening in 1994, maintains a strong financial position, is very well managed, and provides consistently good services. The Senate Committee on Aging recently commissioned a GAO study on the effects of the recession and housing crisis on CCRCs, and urges applicants to investigate an organization's financial condition before committing their life savings to it. Riverwoods passes with flying colors, and we're delighted to be here.