Finding your new home in Downers Grove or Chicagoland for retirement can seem daunting. You’ve probably considered must-haves like amenities, floor plans, activities and quality of services and care offered. But have you considered evaluating for-profit or not-for-profit incorporation?
While one isn’t necessarily better than the other, the responsibilities for how profits are used and distributed vary. For-profit senior living communities function like any private business, which means they make decisions based on generating profits for stakeholders. Though this doesn’t necessarily diminish care, service or quality, their bottom line is different than a not-for-profit community.
On the other hand, a not-for-profit senior living community like Oak Trace invests back into its core mission. By reinvesting in resident well-being and satisfaction, not-for-profit communities continue to listen, and answer to, the very people who live there.
3 Benefits of Choosing a Not-For-Profit Senior Living Community
When considering how to plan for retirement, discuss your options and savings with a financial planner early on in your decision-making process. Here at Oak Trace in Downers Grove, you’ll discover the benefits of a Life Care community. A one-time entrance fee helps cover the cost of care as long as the resident lives here. Then, residents simply have a predictable monthly fee for regular living expenses.
Oak Trace residents and team members also have support from The Lifespace Foundation. Founded almost 30 years ago, the charitable arm of Lifespace Communities supports successful and purposeful aging and peace of mind for our residents knowing they have a home for life.
Investment Goes Back into Oak Trace
We commit to providing a safe, comfortable life for our residents at Oak Trace. And thanks to the philanthropic support of The Foundation, we have the flexibility to go above and beyond to offer enhanced programming, activities, adaptive accessories and other experience-enhancing items both big and small.
Oak Trace Residents Have a Seat at the Table
Who better to guide our community than the people who live here? Oak Trace’s local Foundation Advisory Committee encourages active resident participation and reviews funding requests. From the beloved library program run by dedicated volunteers to team member emergency funds, our residents influence how funds are awarded and distributed.
Our Benevolent Care Promise to You
As a cornerstone of both Oak Trace and The Lifespace Foundation, benevolent care continues to make a real impact in the lives of our residents. Our enduring promise supports any Lifespace resident who outlives their financial resources, through no fault of their own, with continued care for the remainder of their life.
Learn more about how you can support The Lifespace Foundation through tax-deductible charitable giving options, which in turn supports the social, intellectual, spiritual and physical needs of our residents at Oak Trace.
Ready to Discover Oak Trace?
Whether you’re looking for a senior living community for yourself or someone you love, Oak Trace welcomes you to see what life is like when you trace a new path with us. Contact us today!