What is the difference between a For-Profit Corporation and a Nonprofit Foundation?
Foundation House at Bothell is a nonprofit entity that has given nearly $500,000 to enhance the lives of children in the Seattle Public School system. (Read more in our About Us section). For-profit retirement communities are generally part of a larger chain of properties and are seldom managed by the owner and are typically governed by a board of directors. Generally they are very strict in the way the property is operated. This is an effort to capitalize on as much profit as possible for shareholders with a calculated risk. Unfortunately, residents have little say as to how to make their specific retirement community better. A nonprofit retirement community is generally a smaller company with a board of directors who have an interest in the overall development of the foundation. Seattle Education Foundation is the sponsor of Foundation House at Bothell and prides itself on making the community a benefit, not only to those we serve, but to the betterment of children and education. The
