Financial Advisory Panel
Choosing a retirement community to live in requires a thorough review of the many options available. Key to this decision is an analysis of its long-term viability. CARF's Financial Advisory Panel conducts ongoing analyses within the industry and publishes resources that can be used by provider organizations and consumers alike.
The Financial Advisory Panel (FAP) comprises leading finance experts, including CFOs and consumers from accredited organizations, investment banking, accounting, and other related firms. The FAP provides input on development of financial standards and strategic educational resources, including:
- Developing operational indicators.
- Enhancing financial standards for all areas of Aging Services within CARF's purview.
- Reviewing aggregate data to identify financial trends and issues in the field.
The FAP produces two publications, the Financial Ratios and Trend Analysis of CARF-CCAC Accredited Organizations (produced annually and distributed in the fall) and the Consumer Guide to Understanding Financial Performance and Reporting in CCRCs, which are highly acclaimed resources for service providers and consumers, respectively. Copies of these publications are offered for purchase at the CARF Online Store.
Financial Ratios and Trend Analysis of CARF-CCAC Accredited Organizations: This publication includes information about the financial position of organizations that have been through CARF-CCAC's accreditation process. A valuable benchmarking resource, the information serves as a point of reference for developing internal targets of financial performance.
Consumer Guide to Understanding Financial Performance and Reporting in CCRCs: Given the long-term commitment involved in choosing a continuing care retirement community (CCRC), this objective resource booklet reviews important criteria for consideration. It describes and compares various fee structures and contract types for CCRCs. It is a collaborative effort of CARF's FAP, provider organizations, and involved residents.
This guide may be downloaded for free (PDF) or purchased in printed form from the CARF Online Store.