Novare July 2019
What is Novare? Novare is a national consortium of select not-for-profit Life Plan Community providers.
Overview Description: founded in 2012, members are known for excellence, innovation, and financial strength, and are committed to advancing “next” practices related to senior living/services. Mission: accelerate member potential through peer- inspiring, collaborative leadership in order to enhance the lives of older adults. Vision: to be the next generation affiliation model of high-quality life plan community providers.
Overview Membership: 17 member organizations located in non- competing markets. Scope: equivalent in size to the fourth largest, multi- site, not-for-profit organization nationally, with 7,762 units, $486 million in gross operating revenue, and $3.5 billion in total assets. Structure: LLC. Members maintain their own boards, financial statements and tax returns.
Organization • 17 member LLC • 6 founding members serve as officers or at large members of Governance Committee
Business Model • Each member pays dues, currently $5,500/year • Dues cover most core programs; members cover their own travel expenses. A fee of $1,000 is charged for participation in each of Resident and Employee Satisfaction Surveys. • Estimated annual value per member $55,600 • The Mather provides administrative support at a cost of $3,500/mo • As of December 31, 2018 LLC has $190K cash on hand.
Core Programs • CEO Forums – twice annually hosted by members, held at Community • Leadership Development – 4 multi-day sessions over course of a year, one participant per Community • Management Development – bi-weekly teleconference followed by Community conversation, one year in length, minimum 3 participants per Community • Peer Exchanges – CFO, COO, Executive Assistant, HR, IT • Resident Satisfaction Survey • Employee Satisfaction Survey
Strategic Plan Mission
Members Mission • Aldersgate, Charlotte, NC • Bishop Gadsden, Charleston, SC • Carolina Meadows, Chapel Hill, NC • Clark Lindsey, Urbana, IL • Clark Retirement, Grand Rapids & Kentwood, MI • Edgewood Retirement, North Andover, MA • Frasier, Boulder, CO • Immanuel Lutheran, Kalispell, MO • Kahala Nui, Honolulu, HI
Members Mission • Lambeth House, New Orleans, LA • Lenbrook, Atlanta, GA • Mather LifeWays, Evanston & Wilmette, IL and Tucson, AZ • Montereau, Tulsa, OK • Moorings Park, Naples, FL • The Osborn, Rye, NY • Saint John’s On The Lake, Milwaukee, WI • Vicars Landing, Ponte Vedra, FL
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