Page 2 - Jewish Home 2017-2018 Annual Report

ANNUAL REPORT Fiscal Year 2018 – 2019

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

amounts in thousands
8/31/16 8/31/17 8/31/18
ASSETS
Current Assets $52,162 $96,611 $80,009
Contributions receivable 19,652 18,054 24,901
Property, plant & equipment, net 288,427 297,043 292,351
Assets held in trust for residents 428 623 355
Assets limited as to use 23,572 11,914 10,928
Other long-term assets 41,139 21,990 17,345
TOTAL ASSETS $425,380 $446,235 $425,889

LIABILITIES
Current liabilities $39,755 $28,314 $26,078
Refundable advance fees and 51,875 156,439 184,414
deferred revenue
Asset retirement obligation 727 571 577
Resident funds 428 623 355
Fountainview deposits 15,074 5,059 363
Long-term debt 230,417 168,988 107,637
Other long-term liabilities 5,256 12,972 16,681
TOTAL LIABILITIES 343,532 372,966 336,105
NET ASSETS
Unrestricted $44,108 $35,098 $31,348
Temporarily restricted 27,245 26,380 46,474
Permanently restricted 10,495 11,791 11,962
TOTAL NET ASSETS 81,848 73,269 89,784

TOTAL LIABILITIES & NET ASSETS $425,380 $446,235 $425,889

STATEMENT OF ACTIVITIES
amounts in thousands
8/31/16 8/31/17 8/31/18
REVENUE
Patient service revenue $109,633 $112,899 $124,741
Unrestricted contributions and net
assets released from restriction
and used for operations 14,947 19,965 25,180
Temporarily & permanently restricted
contributions, net of net assets released
from restriction and used for operations (2,677) 431 22,728
TOTAL REVENUE 121,903 133,295 172,649

EXPENSES
Nursing, medical and dietary $66,374 $72,646 $79,800
Other general operating 41,878 49,950 55,207
Fund-raising 2,552 2,724 2,693
Debt financing costs 4,091 6,951 7,740
Depreciation and amortization 7,633 9,603 10,694
TOTAL EXPENSES 122,528 141,874 156,134
Revenue in excess of (less than) expenses (625) (8,579) 16,515
CHANGE IN NET ASSETS $(625) $(8,579) $16,515 15