Page 8 - Jewish Home Family Annual Report 2019

2018 Jewish Home Family Operating Recap
Jewish Home at Rockleigh (JHR) continues to maintain a strong occupancy which averaged 96.5% in 2018. JHR generated positive cash flow during the year and continues to fund its future capital replacement needs in addition to covering routine expense obligations. JHR had a principal debt payment holiday in 2018. Total debt outstanding as of December 31st was $13,670,000.
Jewish Home Assisted Living (JHAL) averaged 97 occupied units, or 91%, and 103 residents, or 93% during the year. JHAL generated positive net income and cash flow. In July 2018, JHAL accelerated its debt amortization with an additional payment of $300,000. Total debt outstanding, including the recent construction loan, as
of December 31st was $6,665,632.
Jewish Home at Home (JH@H) continued to see improved operations during 2018 with increased demand for @Homecare services which exceeded budgeted revenue projections by 8%. The Gallen Day Center also showed improvement during the year and increased the average daily attendance from 34 to 36. In addition, JH@H provided 455 days of scholarship opportunities to individuals in the community.
Jewish Home Foundation (JHFDTN) provided $529,559
in operational support during the year. In addition, it provided $1,075,000 in capital support as well as $390,077 in directed resident and client programming support.
Jewish Home Family Finance Committee Update
The Finance Committee monitors the monthly internal financials for all Jewish Home Family entities and compares them to the established and Board Approved 2019 budgets.
This past year has been filled with meetings and planning decisions related to the Second Century project.
The Committee also continues to monitor our investment portfolio, which is managed by City National Rochdale. We are pleased to report that our investments are performing well in relationship to our stated risk profile and objectives.
This past year has been filled with meetings and planning decisions related to the Second Century project. While the fundraising has been taking place under the direction of Melanie Cohen and Carol Silver Elliott, we have been working on selecting a bank for the financing (Valley National), determining the type of financing to utilize,
and tracking borrowing rates.
Overall, we are pleased to report that The Jewish Home Family and its entities are in solid financial condition as we actively make modifications to further enhance our long-term ability to continue serving our community.
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Brandy Stefanco
Chief Financial Officer The Jewish Home Family
Peter Martin
Treasurer, The Jewish Home Family
Chairman, The Jewish Home Family Finance Committee