November 4, 2024 —The following link is an article giving a very nice overview of what to look for in terms of financial metrics when vetting a Continuing Care Retirement Community (CCRC).
We decided to dig into our own metrics to see how Kendal at Ithaca compared with the recommendations.
According to Kendal at Ithaca CFO, Greg Sommers, we are in a very strong financial position with very positive results from our most recent audit, completed for year ending December 31, 2023.
Some of the metrics for Kendal at Ithaca are as follows:
- Average Days Cash on Hand: 759.20
- Operating Margin Ratio: 3.39%
- Debt Service Ratio: 3.16
- Unrestricted Cash & Investments to Long-Term Debt: 149.30%
- Average Age of Community: 14.4 years
While not all metrics are directly comparable to those in the article, we think these provide a very good picture of Kendal at Ithaca. We welcome questions, comments, and inquiries.
Please do not hesitate to reach out.