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CONSOLIDATED STATEMENT OF ACTIVITIES
DECEMBER 31, 2007 AND 2006

 
2007
2006
Revenues, Gains and Other Support
    
Skilled nursing facilities
$62,924,739
$60,041,504
Day treatment centers
7,533,439
7,704,314
Certified home health agency
34,161,980
31,520,413
Case management
2,087,996
 2,508,188
Long-term home health care program
4,872,304
2,500,777
Grants & contributions
772,647
584,743
Other revenues
7,941,889
6,744,895
 
 
 
Total revenues, gains and other support
$120,294,994
$111,604,834
 
 
 
Expenses
 
 
Skilled nursing facilities
$46,462,730
$47,148,746
Day treatment centers
7,533,669
7,399,407
Certified home health agency
26,883,197
20,405,307
Case management
2,161,554
2,389,142
Long-term home health care program
4,814,098
2,875,706
Interest
2,072,448
2,177,437
Depreciation and amortization
6,308,898
6,181,435
New York State revenue assessment
3,740,359
3,808,256
Other
17,816,174
17,259,709
 
 
 
Total Expenses
$117,813,127
$109,645,145
 
 
 
Change in net assets before other charges
2,481,867
1,959,689
Net assets—beginning of year
37,704,948
35,745,259
 
    
Net assets—end of year
$40,186,815
$37,704,948
 
 
 

CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2007 AND 2006

    
     
Current Assets
 
 
Cash & investments
$43,668,380
$33,066,613
Accounts receivable
 
 
(net of allowance for doubtful accounts of $5,683,981 in 2007 and $5,350,978 in 2006)
21,618,283
16,950,376
Other current assets
3,474,532
2,868,568
 
 
 
Fixed assets
    
(net of accumulated depreciation and amortization of $68,211,616 in 2007 and $61,902,718 in 2006)
58,645,779
59,607,782
Other non-current assets
46,056,996
10,905,150
 
 
 
Total assets
$173,463,970*
$123,398,489
 
 
 
Liabilities and Net Assets
 
 
 
    
Accounts payable and accrued expenses
14,434,477
11,966,461
Due to third parties
27,721,625
29,037,576
Other payables
11,747,385
4,049,751
 
 
 
Total current liabilities
$63,903,127
$45,053,788
 
 
 
Net Assets
 
 
Unrestricted
40,122,615
37,640,748
Restricted
64,200
64,200
 
 
 
Total unrestricted net assets
40,186,815
37,704,948
 
 
 
Total liabilities and net assets
$173,463,970*
$123,398,489

 

*In 2007, $37,620,00 bonds were obtained to finance the construction of a new rehabilitation and nursing facility. Total liabilities for 2007 include this amount. The net proceeds of the bond financing in the amount of $34,100,000 are also included in total assets for 2007.

 


 

 

 

 

 

 

 

 

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