“Our nonprofit status is the foundation of our residents’ peace of mind.”~ Charlie Rahilly, CFO of ECS, parent company to MonteCedro
Save the date!
MonteCedro and its parent company, ECS, continue their popular monthly webinar series on Tuesday, August 17 with Planning Your Future: The Financial Benefits of Nonprofit Life-Plan Community Living.
Presented by Charlie Rahilly, ECS Chief Financial Officer, Charlie will discuss the importance of ECS’s industry leading A-minus Fitch Rating, what to know about our nonprofit status, and how these factors deliver confidence and peace of mind to our residents and their families. “The positive financial benefits that come from choosing a nonprofit Life Plan community, such as MonteCedro in Altadena, are numerous,” he says. Charlie will also answer any of your questions on the topic.
Formerly a Vice Chair of the ECS MonteCedro Board, Charlie is an engaging speaker who has held a number of senior leadership roles in major companies and organizations, including iHeartMedia where he led the National Platforms Division with over $4 billion in annual revenues.
For a century, ECS has been a leader in senior independent living in Southern California. Our prudent financial stewardship has been a cornerstone of our organization, and Charlie says that being a nonprofit has been a key factor in ECS’s longevity. “Our guiding principles are discipline and transparency,” he says.
One way that ECS practices transparency is through resident participation. Each community has a Resident Finance Committee that is kept up to date on the financial position of the community and expected future expenditures. The committee also provides feedback and recommendations that help ECS ensure the needs of residents are met and safeguarded. “Our residents have a wide range of experience and education,” Charlie says. “Their participation is vital.”
Being a nonprofit organization means that after operational expenses, all profits are reinvested into our communities every year, for the benefit of residents. “We have no dividends to pay out,” Charlie says. “It means we are able to continually maintain and improve our infrastructure, amenities, and services.”
Charlie believes it all comes down to pride. “Our residents take pride in calling an ECS community home,” he says. “And we are proud to provide homes and a community that offer the confidence, security, and peace of mind that allow our residents to be at their best.”
About ECS Webinars:
Our monthly webinar series was created for potential residents to learn why choosing a home at an ECS community is a smart choice. If you have friends who are considering their future options, please invite them to attend the webinar by sending them this link.
Founded on four commitments – choice, creativity, confidence, and connection – ECS provides relaxed, maintenance-free, resort-style living in beautiful, continuing care, retirement community settings in Southern California.
Celebrating 100 years of exceptional services for seniors. Proudly nonprofit. Contact us today to learn more.