# Charlestown Community

Charlestown Community is an Endowment / Foundation based in Catonsville, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Catonsville, United States
- **Region:** North America
- **Address:** 715 Maiden Choice Lane, Catonsville, MD 21228, United States
- **Founded:** 1983
- **Assets under management:** Undisclosed
- **Website:** charlestowncommunity.org
- **LinkedIn:** https://linkedin.com/company/charlestown-community-inc

## Regulatory record

- **Reports private funds:** No

## About

Charlestown Community was established in 1983 as a nonprofit continuing care retirement community (CCRC) in Catonsville, Maryland, under the operational leadership of Executive Director Don Grove. Its financial architecture blends a self-sustaining residential model with a philanthropic foundation — the Charlestown Benevolent Care Foundation — that subsidizes residents who exhaust personal assets, a rare dual structure in senior living. The organization deploys capital primarily across real estate and healthcare infrastructure. Its showcase asset is the Charlestown Retirement Community Campus at 715 Maiden Choice Lane, a multi-building residential complex offering independent living, assisted living, and skilled nursing. Financing is structured through conduit tax-exempt revenue bonds issued via the Maryland Health and Higher Educational Facilities Authority, a public-private mechanism that lowers the cost of campus expansion and renovation. In addition, the community maintains a Benevolent Care Fund, a reserve deployed to support residents' continued care regardless of their financial situation. The operational scale of Charlestown Community is reinforced by its deep ties to Redwood Capital Investments, the family office of Allegis Group founder Jim Davis and Baltimore Ravens owner Steve Bisciotti. Redwood owns Erickson Senior Living, the management company that operates Charlestown, creating a direct conduit between the nonprofit's mission and one of the largest private senior-living operators in the United States. This relationship effectively embeds the campus within a broader platform that spans multiple states and tens of thousands of residents, though Charlestown retains its distinct nonprofit governance. Grove also maintains professional affiliations with the American College of Healthcare Executives and the National Association of Home Builders, signaling active engagement with the industry's clinical and construction disciplines. What sets Charlestown apart structurally is the Benevolent Care Foundation's separation from the operating entity. The foundation exists solely to cover care costs for residents who outlive their retirement savings, a financial guarantee that substitutes for an external insurance backstop and underpins the community's value proposition. This design — blending a tax-exempt bond-issuing CCRC, a dedicated philanthropic reserve, and a private management company relationship — creates a governance and capital model that most single-site nonprofits never achieve.

## Sectors

- Real Estate
- Healthcare Services
- Infrastructure

## People

- Don Grove — Executive Director

## Questions

### Who runs investment decisions at Charlestown Community?

Executive Director Don Grove has led Charlestown since its founding in 1983. The organization does not function as a traditional endowment investment office; its capital allocation centers on campus real estate expansion, maintenance of the Benevolent Care Fund reserve, and oversight of tax-exempt conduit bond issuances. The community's management company, Erickson Senior Living (owned by Redwood Capital Investments), handles day-to-day operations, while the Charlestown board governs strategic financial decisions.

### How is Charlestown Community related to Erickson Senior Living and Redwood Capital Investments?

Erickson Senior Living is the operating management company for Charlestown Community, and Redwood Capital Investments — the family office of Jim Davis and Steve Bisciotti — owns Erickson. This structure means the nonprofit Charlestown entity benefits from the scale and operational expertise of one of the largest private senior-living platforms in the country, while staying legally distinct and governed by its own nonprofit board.

### What is the Benevolent Care Foundation, and how does it work?

The Charlestown Benevolent Care Foundation is a separately governed 501(c)(3) that provides financial support to residents who deplete their assets through no fault of their own. It functions as a charitable insurance mechanism, ensuring that long-term residents continue to receive care — including skilled nursing — without being displaced. The foundation is funded through charitable contributions and a designated reserve.

### Does Charlestown Community participate in direct investments or fund commitments?

Charlestown does not operate a discretionary investment portfolio in the manner of a foundation endowment. Its capital structure revolves around real estate, tax-exempt municipal bonds, and the Benevolent Care Fund reserve. There is no record of the organization making LP commitments to external private equity or venture capital funds.

## Related profiles

- [Charles Sturt University](https://altss.com/profile/charles-sturt-university)
- [Chartered Institute of Personnel and Development](https://altss.com/profile/chartered-institute-of-personnel-and-development-cipd)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/charlestown-community

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology