Senior living organizations are evenly split when it comes to resident representation on corporate boards, according to a Ziegler poll of chief financial officers at such organizations. Half have resident members, and half do not.
The speciality investment bank anticipates that organizations more frequently have resident representation on their local boards — when they have them, although the survey did not pose that question. Only 37% of participating companies have local boards.
Almost 260 not-for-profit senior living companies from across the country responded to the survey, 59% of which were single-site organizations.
Some of the survey’s other findings:
- 94% of responding organizations said they do not compensate board members (excluding reimbursement for travel, training and similar expenses).
- Overall, the most common frequency for board meetings was quarterly, with 40% of respondents citing that frequency, although a higher percentage of multi-site organizations (51%) than single-site organizations (32.4%) reported meeting at that frequency. Bimonthly meetings also were popular at single-site organizations (32.4%).
