As a nonprofit, single-site Life Plan Community, Meadowood does not answer to shareholders. The “profit” is reinvested to continue to improve our Worcester Township, PA retirement living community. Fitch Ratings has affirmed the ‘BBB’ rating on $60.4 million series 2018A revenue bonds issued by the Montgomery County Industrial Development Authority on behalf of Meadowood Corporation (Meadowood). Fitch has also assigned a ‘BBB’ Issuer Default Rating to Meadowood. The rating outlook is stable.
Paul Nordeman , Meadowood’s president & CEO, oversees the day-to-day operations of Meadowood and reports to an all-volunteer board of directors. The board ensures that Meadowood stays true to its mission to promote the highest quality of life for all who experience our community.
“As a nonprofit, all are profits are being reinvested right back into the community,” said CFO Steve Wisniewski, “whether it’s capital improvements, finding quality employees and offering better benefits, or lowering residents’ annual increases.”
Meadowood’s commitment is to provide the highest level of service while keeping fees as low as possible. Our board-level finance committee, comprised of board, residents and management staff, oversees the financial operations of the retirement community.