In governing a system of supported CCRCs, NSC takes a national approach, allowing each individual community to benefit from a broad-base of knowledge and experience when strategic and governance decisions are being considered.
This also allows each sponsored community to have representation and direct involvement in the formulation of the policies and activities of National Senior Communities that affect your community. National Senior Communities’ decision-making structure is based on the recommendation of five advisory committees.
All board policies originate from one of these advisory committees and are approved by the full NSC Board, and then recommended to the Community Boards for adoption where relevant. Through this national governance structure, best practices can be recognized and shared across all supported communities.
Advisory Committees:
Audit, Investment, and Treasury Committee is responsible for oversight of all audits and investments for NSC and its supported communities as well as review of all tax returns and business trusts. The chairs of the advisory committees are members of the NSC Board.
Budget and Finance Committee is responsible for advising NSC and the Community Boards on implementation of the NSC budget policy throughout the system. The committee works collaboratively with Erickson Senior Living to achieve final budget approval from the Community Board and support the financial plans and initiatives for communities.
Governance and Internal Affairs Committee is responsible for establishing, maintaining, and facilitating best practices and procedures for the effective and efficient governance of NSC and its supported communities. This committee also ensures that the directors fulfill their fiduciary obligations under the law and oversees director succession planning.
Operations and Risk Management Committee is responsible for oversight and maintenance of effective and efficient community operations and risk management strategies on behalf of the NSC Board and Community Boards, including all compliance requirements.
Strategic Planning Committee is responsible for developing and evolving NSC’s strategic plan, ensuring a living document that provides guidance to NSC to oversee the mission and vision of the system and long-term success for NSC and its supported communities.
Through National Senior Communities’ governance structure, best practices are recognized and shared across all sponsored communities.
This allows each sponsored community to have representation and direct involvement in the formulation of the policies and activities of National Senior Communities that affect the community. The chairs of the advisory committees are members of the National Senior Communities’ Board. All board policies originate from one of these advisory committees and are approved by the full National Senior Communities Board, and then recommended to the individual community boards for adoption where relevant. Advisory committees also include non-Director advisory committee members, who are consultants or experts, with skills that support the work of the committees.