We are living through a failure now. The previous administration was extremely secretive and we found out about it when there was an announcement that they were bringing in a consulting firm. Later, it became known that the community was more than $60M in debt and that it was the debt holder (bank) that brought in the consulting firm. The consulting firm took over, fired or forced out the previous administration and a number of workers and installed their own people. They are in the process of restructuring us so that our CCRC will be an attractive acquisition to another CCRC. The goal was to avoid bankruptcy. Initially, the consulting firm was very open but over the last 2-3 months, they have also become secretive and it’s difficult to know what is going on.
What were the clues? ProPublica has a list of nonprofits (https://projects.propublica.org/nonprofits/organizations/142007220). If you know the name of your parent organization, you can see their IRS 990 form. Ours has been losing money since 2015 which was documented in 990 filings in ProPublica. Other clues: lack of preventive maintenance, hard to get repairs made, secrecy on the part of the administration, no resident representation on the board, empty units, run-down look.
Hope this helps. Good luck.