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.
2021 Financial Advisory Panel Members
ACTS Retirement-Life Communities, Inc. – Susan Ahern, Vice President & Controller
Baker Tilly US, LLP – Patrick Heavens, Partner, Healthcare Practice
Continuing Care Actuaries – Brad Paulis, Partner
Eventus Strategic Partners – Alan Wells, President
Friendship Senior Options – Michael Flynn, Vice President & CFO
Goodwin House Bailey’s Crossroads – Carolyn Buttolph, Resident
Herbert J. Sims & Co., Inc. – Jim Bodine, Executive Vice President
The Huntington National Bank – Tom Gibbons, Senior Vice President, Commercial Banking
Ingleside – Tim Myers, CFO/COO
Moorings Park – Mary Morton, CFO
RKL, LLP – Jeff Boland, Partner, Senior Living Services Consulting Group
St. Catherine’s Village – Scott Kersh, CFO
Ziegler – Amy Castleberry, Managing Director
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 & Trends Analysis of CARF-accredited Continuing Care Retirement Communities (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 & Trends Analysis of CARF-accredited Continuing Care Retirement Communities: This publication includes information about the financial position of organizations that have been through CARF's accreditation process for CCRCs. 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.