When the idea of RiverWoods was still a dream in the minds of its founders, finances were scarce. To formalize the plan for creating a retirement community, a group of visionaries, including RiverWoods founders Maryanna Hatch and Rosemary Coffin, formed the nonprofit organization, Life Care Services of New Hampshire (LCSNH). A professionally diverse group of individuals made up the LCSNH board, where Rosemary served as its president.
Realizing that building a Continuing Care Retirement Community (CCRC) would be incredibly expensive, they nevertheless started out funding the project by passing a hat around. The LCSNH did not want to align itself with a for-profit company or investment group. Creating a for-profit entity wasn’t consistent with their vision nor was it part of their DNA. Luckily, they began collaborating with Robert D. Chellis, who was a consultant in the elder care and retirement community field with considerable experience creating CCRCs, especially nonprofits in the startup phases of their programs. This led to a partnership with Oakleaf Retirement Services (RLS), a development company and the rest, as they say, is history.
Since its founding in 1994, RiverWoods has maintained a solid reputation as a smart and strong family of not-for-profit communities. With strong financial oversight and board governance, the organization has grown thoughtfully and maintained healthy occupancy while consistently outperforming industry benchmarks.
As a not-for-profit, RiverWoods focuses on improving the quality of life for residents rather than increasing shareholder value. Because revenue is reinvested back into the community, RiverWoods is always looking for ways to improve services, upgrade amenities, and attract the best staff.
Another advantage of this status is the sense of personal fulfillment residents and staff experience from making a positive difference in the world. RiverWoods is still very much focused on making a bigger impact by giving back to the greater communities beyond the RiverWoods doors.
RiverWoods proudly remains mission-driven, and is dedicated to bringing this way of life to as many people as possible for as long as possible.