Michael Schonbrun — President & CEO, Balfour Senior Care

Michael Schonbrun, Balfour's Founder, President and CEO, has extensive experience in housing and health care services for seniors. For more than 25 years Michael has worked in assisted living, long-term care, hospital, HMO, home health and hospice care environments. His vision for Balfour was — and is — to provide a continuum of quality options for seniors that meet their housing, social and medical needs.

Michael founded Balfour in 1996. Since then, Balfour has blossomed into an important provider of a much-needed housing and care for seniors in and around Boulder County. He attributes much of Balfour's initial and ongoing success to providing high-quality services for seniors, and hiring talented staff to oversee all details of the operation. An attorney by training, Michael has developed and directed management teams in a number of states in his career. These teams included individuals of diverse talents and backgrounds that became known for both their productivity and expertise and their teamwork and organizational commitment.

For 10 years, from 1981 to 1991, Michael was President and Chief Executive Officer of the National Jewish Center for Immunology and Respiratory Medicine, one of the nation's leading specialty and research hospitals. While at National Jewish, he directed a turnaround marked by a doubling of clinical activity, a tripling of funding for research programs, and stabilization of the Center's financial situation. Michael was also responsible for the consolidation of the National Asthma Center into National Jewish.

Michael served as a special health care advisor to three governors and directed the state of Colorado's nursing home licensure and certificate of need programs. He has long had an interest in long-term care and health services for the elderly and chronically ill and has written and spoken widely on emerging trends in America's health care systems.

Active in community affairs, Michael has chaired several statewide commissions on health care, environmental and economic development matters. Recently, he served as chairman of the board of the Alzheimer's Association's Rocky Mountain Chapter. Among his previous responsibilities are the Chairmanships of the Metro Denver Air Pollution Council, the Governor's Economic Development Commission of the Health Care Industry and the Denver United Way Campaigns for the health care industry. He has also served as a member of the Executive Committee of the 1988 Colorado Winter Olympic Games Organizing Committee, the Boulder Library Commission, the Colorado Association of Home and Services for the Aging, and the International Medical Corps.

Michael is a graduate of Yale University and the University of Pennsylvania Law School.

Elinda Dennis — VP of Finance, Balfour Senior Care

Elinda Dennis joined Balfour's executive management team as controller in January 2004. She is responsible for all finance related aspects of the company, including fiscal operations at Balfour Retirement Community, Balfour Cherrywood Village, and the Lodge at Balfour. Elinda has extensive experience in financial management and business accounting. Prior to joining Balfour, Elinda worked in the high-tech industry as an accounting manager for CQG, Inc., senior accountant/office manger for Athene Software, Inc., and senior accountant at Coral Systems, Inc. She has also worked as a staff accountant and corporate administrator. Elinda found Balfour a good match for her skills and interests. She enjoys working at Balfour and interacts with the residents on both a professional and personal basis. She helps residents with their bills, keeping their accounts straight and discusses any payment issues they may be having. She also participates in activities at Balfour and enjoys singing for the residents on occasion.

Elinda received a bachelor's degree in business/accounting from the University of Phoenix, where she graduated with honors. She has completed training programs in accounting, software, payroll and property reporting.

Paula Enrietto, PhD — Executive Director, The Lodge at Balfour

Paula Enrietto is Executive Director of The Lodge at Balfour. Paula has a long standing commitment to advocacy for the elderly and an intimate knowledge of medical and social issues facing seniors. She is a native of Louisville and member of the Louisville Senior Foundation. Paula has an extensive background in scientific research and business development that brings a unique, analytical perspective to the long-term care industry. Previously, Paula was an Associate Professor at The State University of New York at Stony Brook, where her work was funded by the National Institutes of Health. She also was a staff scientist at Genomica Corp. and Director of Biology at Kenna Technologies. In each of these roles, Paula developed extensive skills in analyzing the changing healthcare field.

Paula received her doctor of philosophy from the University of Colorado Health Sciences Center and completed her training at the Imperial Cancer Research Fund in London where she was awarded a fellowship from the National Institutes of Health. She is the author of more than 45 publications and an invited speaker at several national conferences.

In addition to being Executive Director of The Lodge, Paula's responsibilities at Balfour also include managing the company's information system infrastructure.

Sandy Christensen, RN, NHA — Executive Director, Balfour Retirement Community

Sandy Christensen is the executive director of Balfour Retirement Community. She is responsible for all operations and customer service activities at Balfour Retirement Community, including the assisted living and skilled nursing segments. Sandy has 20 years of experience in healthcare working at all levels of long-term care and geriatrics. Sandy joined Balfour in 1999 as the director of nursing. She previously worked as the director of nursing, assistant director of nursing, staff development and charge nurse for a large national nursing home chain with facilities in Colorado. In addition, she has held licensed nursing and certified nursing assistant positions. Sandy is very active in the local nursing community. She sits on the advisory board for the nursing programs at Front Range Community College in Longmont, where she is a guest instructor and teaches nursing and CNA classes.

Sandy received her associate's degree in nursing from Front Range Community College in Westminster and is a registered nurse. She is currently working toward completing her bachelor's degree.

Megan Carnarius, RN, MT, NHA — Executive Director, Balfour Cherrywood Village

Megan Carnarius is the executive director of Balfour Cherrywood Village. She is a nurse, licensed nursing home administrator, and a much sought after speaker on the topic of Alzheimer's care, a specialty that she has focused on in her training, management, and program design for more than a decade. Megan blends two decades of medical and holistic patient care experience in leading Balfour's Alzheimer's program for patients and families. Her philosophy on memory care is that people with Alzheimer's disease are trying their best to manage and their quality of life can be greatly enhanced if the environment supports their strengths and allows them to express their individuality within the community. Megan turned her focus to specialization in Alzheimer's care in the early 1990s. She has consulted with healthcare leaders both in Colorado and nationally to promote therapeutic and psychosocial models of care.

At Balfour Cherrywood Village, Megan annually conducts a regular Spring and Fall lecture series for local families on all aspects of caring for those with Alzheimer's and related dementias. She has also produced a CD entitled "Alzheimer's Disease: How Do You Know When It's Time To Seek Help?" Megan is an adjunct Faculty Member for Naropa Institute, gerontology program, Masters in Health Care Administration. She continues to lecture to families and care professionals on all aspects of Alzheimer's care.

Susan Juroe, Esq. — General Counsel, Balfour Senior Care

Susan E. Juroe, Esq. is General Counsel for Balfour Senior Care. Prior to joining Balfour in 2003, she was a partner in the Washington, D.C. office of Holland & Knight, LLP, the nation's second largest law firm, specializing in real estate development and finance. Her area of emphasis is affordable and senior housing development and the programs administered by the U.S. Department of Housing and Urban Development.

Susan currently sits on the Editorial Board of Affordable Housing Finance magazine and Housing Bond Report and has served on the advisory board of The Housing and Development Reporter and the National Leased Housing Association. In addition to publishing numerous articles relating to housing, Susan authored the Bond Financing chapter for Warren, Gorham & Lamont's Housing and Development Forms and Commentary. She served in the Reagan Administration as Special Assistant to the Chairman of the U.S. Consumer Product Safety Commission and Special Assistant to the Chairman of the U.S. Merit Systems Protection Board. She graduated with a B.A. in Literature from the American University in 1983 and with a J.D. from The Catholic University of America in 1986, both in Washington, DC. Susan is admitted to practice in Colorado, Washington, D.C. and Pennsylvania.

Shannon Gifford, MBA — Financial Advisor, Balfour Senior Care

An independent real estate and financial consultant since moving to Colorado in 1991, Shannon has been financial advisor for Balfour since early 1997, participating in the development of its initial business plan, preparing financing requests for Balfour Retirement Community and subsequent projects, reviewing operating budgets and financial reports, and helping to coordinate lender and investor relations.

Prior to 1991, Shannon spent six years working for Columbia University, where she was involved in the full range of financial management functions. In addition, she evaluated prospective acquisitions and developed policies for the management of the University's extensive institutional real estate portfolio, monitored funding procedures for campus funding projects, and structured and negotiated business terms for a biomedical research park being developed by the University.

Shannon is a Chartered Financial Analyst and a licensed Colorado real estate broker. She is a member of the Denver Society of Security Analysts, the Association for Investment Management Research, and the Urban Land Institute. She graduated from Swarthmore College in 1980 and in 1985 received a Master's Degree in City Planning from the Graduate School of Fine Arts and an MBA in Finance from the Wharton School of Business, both at the University of Pennsylvania.

Advisory Board

Balfour's advisory board is comprised of five individuals who meet quarterly to discuss key strategic, financial and operational aspects of the business. Besides founder Michael Schonbrun, it is comprised of Mr. James Krantz, a business psychologist and consultant from New York City; Mr. Charles Wilke, an investment banker from Seattle; Mr. Zack Neumeyer, an entrepreneur in the hotel and hospitality sector; and Ms. Susan Juroe, an attorney with special expertise in housing finance and currently Balfour's legal counsel.