It can sometimes be confusing to know exactly the difference between a ‘for-profit’ and ‘not-for-profit’ provider when looking for an aged care home or retirement village for you or your loved one.
There are an abundance of both ‘for-profit’ and ‘not-for-profit’ organisations and companies that deliver aged care and retirement services across Australia.
A profit is the organisation’s surplus money that is left after all the bills and expenses have been accounted for, eg. wage, equipment, building and maintenance costs.
In a ‘for-profit’ organisation, this profit is distributed to the owners and/or investors and shareholders of the business.
In a ‘not-for-profit’ organisation, this surplus is reinvested back into the organisation to provide services and facilities that further its aims and mission.
Not-for-profit organisations can still make a profit, and it is financially prudent to do so, as this surplus can be used to create a sustainable organisation that continues to fulfil its mission and values.
Christadelphian Aged Care has been a not-for-profit organisation and a charity for more than 70 years.
We believe that by caring for the aged and frail we are demonstrating Jesus Christ’s love, mercy and compassion in a practical way.
Any surplus funds are reinvested back into caring for our residents and facilities.
In this way we strive to fulfil our values by enriching the quality of life of the people in our care by nurturing them through our compassion, service and comfortable living environment.