To establish, own and administer residential property designed to accommodate the physical, social, spiritual, emotional, recreational and other similar needs of AGED persons; develop resources to enhance and support programs for the specialized needs of AGED persons; participate, so far as circumstances warrant, in ANY activity designed and carried on to promote the general mental, physical and spiritual health of the residents of the community served and securing, raising and arranging capital to provide for the development, implementation and support of such facilities, programs and services consistent with purposes of the organization.