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We found one we really like, which has large entrance fee, allegedly 90% refundable, which is not a problem for us. However, upon research we found it shows 10-11 million dollar operating losses for the past several years. It is supposedly a not for profit. Is this normal for non profits, or could our entrance fee ($600,000) be at risk. It has been in business since 1998.Any input greatly appreciated.

Non-profit doesn't mean the entity doesn't make a profit, or at least break even, it means no one owns it therefore no one benefits personally from it. The profits should be plowed back into the organization for its betterment and future stability. Non-profit orgs should definitely strive to make profits.

It's possible it shows a loss but then could be making up the deficit through annual fund-raising, which many non-profits rely on. Otherwise, I don't know how it can survive all those years in the red.
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Reply to Geaton777
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Buyer beware. This was an article in the NYT recently about this. Be careful.

https://www.nytimes.com/2025/01/18/health/retirement-community-bankruptcy.html?searchResultPosition=3
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Reply to Hothouseflower
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I live in NJ. How secure is your 600k going to be. Is it guarenteed. Have you tried other counties going South. I live in Salem County and there is one near me with Cottages, apts, Assisted Living and NH care.
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Reply to JoAnn29
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Today I would be worried.
I have just read several articles in Business Magazines (2) about how corporations and hedge funds are now DROPPING elder care facilities of all kinds.
The thought WAS that this was a very good thing, the aging of Americans, for Corps and funds. Because all of us oldsters are going to need are. Facilities. etc.
However, now it is turning out that there may not be enough elders with enough money, and those with money are getting it protected by Trusts. And the future of governments ABILILITY and INTENTION to provide care to seniors may be "uncertain" and "in question".

All of that to say...........I would be careful.
I would speak about all of this with a good and trusted financial advisor. I am guessing you have one if you have accumulated money to this extent. And if not, you can FIND one.
My son in law, 71, has a mother 92 who "bought in" many years ago to IL. Facility is in AZ. Over the course of a decade the facility is deteriorating faster, giving less, and now meals are not included and they don't eat enough to make it worth buying into meals, and the spinklers aren't fixed and they are tripping on them and they can't get BP checkups any more and so on. In short I am hearing more money-less care. The litany of those of us who are old.

I think this comes down to your decision. And praying (if you are lucky enough to be a believer). My brother's place, Palm Springs, was a marvelous ALF. Beautiful. Marvelous staff. Not a buy in. But just so great. Pacifica Senior Living owned it, a Corporation with another facility in Hemet and I guess more all around. BOTH the Hemet and the Palm Springs were just sold. To something called Cottages. Now one can help as marvelous? But one can't know unless there.

Just saying, it's all gamble. Make your decision. Don't do ANYTHING you cannot afford to lose.
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Reply to AlvaDeer
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