Rev. Robert Nicholson, NaCCRA Board member and Past President is featured in the blog post on the MyLifeSite.net titled The Voice of the Resident: Why the Senior Living Industry Should Listen.
If you have a story to tell about life in a CCRC, we would like to hear from you. The Life Line has a new Editorial Commitee with Board member, Ruth Walsh as the Chair. Please submitt articles, comments, or letters to the editor by September 15, 2017 for the 4th Quarter Edition. Please use the Contact Form.
The first NaCCRA Congress takes place on Saturday, October 28 during the NaCCRA meeting in New Orleans. Members can participate by writing one-page papers on topics that are important to residents of CCRCs. Check the Congress page for more details.
President Basil Pflumm is looking for Nominating Committee members to develop a slate of candidates for the upcoming Board of Directors election. He would be happy to hear from you. Please use the Contact Form.
WHAT WE DO - NaCCRA is committed to vigorous advocacy on behalf of the residents of CCRCs. We believe that the senior housing industry can benefit from understanding and adopting the best practices that residents expect. Enacting laws to ensure that such practices are standard across the states will build trust in the industry and assure residents that their expectations will be met. Here are the five issues that we are most closely engaged in. Click the blue sub-head links to learn more about them.
Some states have enacted bills of rights for CCRC residents. Unfortunately, most have not. Since many residents in states where this has not yet happened are interested in this issue, NaCCRA is taking an active role in this effort. You can read our proposed Bill of Rights for Residents of CCRCs on this website.
Residents expect that entry fee investments in CCRC contracts are used to provide promised benefits to them. But industry experts, executives, and managers don’t always view stewardship of these investments in the same way. In some cases, the investments are not handled with care or prudence. NaCCRA is working to improve this situation.
NaCCRA members are working on a set of Model Laws designed for two purposes. First, to improve the business and financial practices of CCRC management. Second, to elevate the financial soundness of the entire continuing-care industry, to make sure that prospective residents can rely on the representations made to them during the marketing process.
Although residents in Entry Fee financed CCRCs provide all or most of the at risk, ownership equity capital to allow the enterprise to qualify for secured debt financing, the residents are often excluded from the Board. This has led to laws mandating residents on CCRC Boards but such laws have met with reluctant provider organizations accustomed to have sole ownership authority.
Matching and consistency principles are fundamental to sound accounting. However, CCRC accounting—as established by the guidelines of the American Institute of Certified Public Accountants and codified by the Financial Accounting Standards Board—departs from these fundamentals. This departure is material since it distorts the recurring fee adjustment calculations. NaCCRA advocates a return to more principled accounting and auditing standards.