Givens Communities, which includes Givens Estates in Asheville, is considered to be one of the most financially stable nonprofit senior living organizations in the country.

Financial stability is the backbone of any nonprofit organization, it’s what allows them to fulfill their mission effectively and sustain its operations over the long term. Givens is rated A- by Fitch Ratings, one of the major credit ratings agencies globally.

Here’s why financial stability and ratings matter:

• Credibility & Trust: Donors, grant makers, and stakeholders are more likely to support a nonprofit that demonstrates financial responsibility and long-term viability. A rating can enhance the credibility of a nonprofit organization by providing an independent assessment of its financial health and creditworthiness.
• Ability to Plan: With financial stability, nonprofits can develop strategic plans, invest in growth, and respond to unexpected challenges.
• Operational Efficiency: A strong financial position allows nonprofits to hire and retain talented staff, maintain programs effectively, and invest in resources that strengthen their work. The rating process can highlight areas where the organization can improve its financial management and operational efficiency. This can lead to better resource allocation and overall performance
• Resilience: Economic downturns, shifts in funding, or unexpected expenses won’t threaten the organization’s survival if there’s a financial cushion in place.
  Improved Funding Opportunities: A strong credit rating can provide broad access to capital (including tax-exempt bonds) and at lower costs as it indicates a lower risk of default.
• Market Advantage: Having a credit rating can give nonprofits a competitive edge over other organizations that do not have a rating. Residents especially should prefer a strong organization, as they frequently make major investments via entrance fees (which can have a refundable portion) when they decide to move into a community.

There is a saying that no money means no mission. Financial stability is the foundation for both short-term effectiveness and long-term success.