Twenty-one years ago the vision for a much needed, and exemplary non-profit assisted living and memory care community became a reality— Rhoda Goldman Plaza. It was one of the first of its kind in San Francisco and was founded by the Jewish Family and Children’s Services and Mt. Zion Health Fund.
Today, our mission remains steadfast: to always provide a safe, familial and stimulating residential community for older adults with access to additional care as needed. People of all faiths are welcome.
Do We Make A Profit?
Yes we do. However, our defining difference between a non-profit and for-profit business is that we reinvest the profit into—
- higher numbers of staff
- modest annual fee increases
- continual maintenance and upkeep of our infrastructure
And because Rhoda Goldman Plaza is a financially sound organization we generally budget for more staff than residents. That’s a tough model for private sector corporations to compete with. Today, for example, we have 130 residents, 158 full time staff and 11 part timers. 60 of those staff are caregivers from an RN (Registered Nurse), LVNS (Licensed Vocational Nurses), and CNAs (Certified Nursing Assistants). Staff retention is paramount, too, and given the generous benefit package we offer, we enjoy industry-leading staff tenure and loyalty with very little turnover of staff. And in the world of quality assisted living and memory care communities the Rhoda Goldman Plaza is considered the “Gold Standard” in responsible staffing.
We Don’t Report to Shareholders.
Any agreement in California that you sign to enter into residency must include a three-year fee increase for the past three years. You can bet the increases are going to be higher in the for-profit world because, after all, there are stockholders who expect a profit. And most decisions are based upon that expectation and diligence. Yet in our non-profit environment our increases have been between 0 – 3% in the past three years. Well below what you’ll find at private brand names. In 2020, for example, our Board of Directors allowed us to raise base salaries of employees while offering residents a 0% increase. This is unprecedented among our peer organizations.
We Put Our Money Where It Counts.
Importantly, our senior community is home to residents who expect the best, and to that, we put our profits into superior capital improvements; architectural and structural (interior and exterior) maintenance must be funded so our community looks and feels its very best. This may mean a major investment in a cooling system or upgrading furniture or finishes within the apartment. At Rhoda Goldman Plaza, we even have our own painter who is constantly touching up the nicks and dings that come from a busy community.
Non-Profit or For-Profit?
So take a good look at what works best for your loved ones; non-profit community or for-profit community? On close inspection we think the selection of Rhoda Goldman Plaza becomes rather evident. And as always, our charter, mission, values, people, and actions will always underscore our promise to you and yours that, “Here, you’re like family.”