the WEL 2013 Annual Report

Transcription

W E S L E Y
E N H A N C E D
125 years
M A K I N G
H I S T O R Y
A N N UA L R E P O R T 2 0 1 3
L I V I N G
Contents
To Our Stakeholders 1
Our Communities 4
WELShift
W
esley Enhanced Living (WEL) has and always
14
will be driven by new and improved ways to think,
operate and lead. In 1888, when the concept of
elder care was still nascent, a group of female
congregants from the Evangelical Association of
Churches believed there was a better way to minister
WEL Foundation 16
Financial Highlights 17
inauguration of the German Home for the Aged, the flagship of what is
Board of Directors
20
today Wesley Enhanced Living.
to the needs of seniors. In 1889, their vision became a reality with the
Today WEL is home to more than 1,000 seniors who represent a diversity of
faiths, ethnicities and cultures. For our current residents and those in future
generations, we remain committed to conceiving new and sustainable ways to
enhance the lives of seniors—just like our founders in 1888. Now, more than
a decade into the new millennium, it is with deep pride and excitement that
we look forward to all the possibilities that lie before us.
Wesle y Enhanced Liv ing
102
T o O ur S takeholders
D
uring 2013 Wesley Enhanced Living (WEL) proudly reflected upon its
extraordinary history and legacy of service to the aging population. We are
honored to have been such a consistent force in aging services for these
past 125 years—blending so many disparate faith traditions in our retirement
communities while maintaining our Methodist heritage—to create an inspiring
purpose-filled environment for all.
Our journey began in the late 19th century with a charter established by
congregants of the Emmanuel Church, part of the Evangelical Association—
which was influenced by John Wesley and the Methodist movement and later
became part of the United Methodist Church. Over the next century, facilities
that would later become part of the WEL organization were envisioned, planned
and built by good people from all faiths and walks of life.
Known as the German Home for the Aged in its infancy, Wesley Enhanced
Living Pennypack Park, the flagship of WEL, grew out of an 1888 charter entitled:
“German Home Society for Members of the Evangelical Association of North
America in the City of Philadelphia.” Since its establishment, the organization
has relocated twice to accommodate ever growing demand and altered its name
several times to better reflect its growing breadth of services for the aging. Its
current site on Roosevelt Boulevard in Northeast Philadelphia opened in 1931.
WEL encompasses three more “centenarian” communities founded in 1896,
1900 and 1904. Respectively, they include: Wesley Enhanced Living Burholme
(founded as the German Baptist Home and later known as Pilgrim Gardens);
Wesley Enhanced Living Upper Moreland (founded by the Loyal Orangemen of
the United States for Protestant orphans and elders and later known as Maple
Village); and Wesley Enhanced Living at Stapeley (founded as the Boarding
Home for the Philadelphia Quarterly Meeting of Friends and later known as
Stapeley in Germantown). Only Wesley Enhanced Living Doylestown, founded in
1981 as the Baptist Estates of Doylestown and later known as Heritage Towers, is
less than 100 years old.
Today Wesley Enhanced Living serves over 1,000 residents with nearly 900
employees. As heirs to our founders’ vision and commitment to human service,
we are humbled and inspired to perpetuate their example.
2013 - A Year in Review
At the start of 2013 we continued to meet significant challenges in our still
recovering economy. While we are convinced that WEL offers the best products
and price in each of its markets, many of these markets are neither robust nor
deep, and new competitors made it all the more challenging.
1
“Do all the good you
can, by all the means
you can, in all the
ways you can, at all the
times you can, to all
the people you can, as
long as you ever can.”
John Wesley
T o O ur S takeholders
One competitive advantage playing strongly in our favor is that virtually all
large-scale rebuilding and repositioning projects in WEL communities have
been successfully completed. In contrast, a full three-quarters of facilities
in the markets where we operate have previously reported the need to
upgrade their communities.
Nationally, senior housing occupancy drifted down slightly, with overall
occupancy remaining 89-90% in the fourth quarter, according to the National
Investment Center for Seniors Housing and Care Industry. The S&P CaseShiller Home Price Index for 2013 was up 13%, although still 20% below its
2006 peak, as mortgage rates bottomed out in 2012 with modest increases since.
Unfortunately, the health of the real estate market in Southeastern Pennsylvania
is still one of the most stymied when compared against that of 100 other major
markets ranked by the Housing Market Recovery Index, which was released in
August 2013 by RealtyTrac®.
Census in WEL communities–averaging better than 94% overall across all
levels—remained better than the national average. Upper Moreland was at near
capacity all year, representing the best year since our expansion. December gross
entrance fees represented the second best month on record for Doylestown.
Stapeley improved slowly but steadily all year in both independent living and
personal care, ending the year with the lowest number of uncommitted units
since it affiliated with WEL.
Expenses were up only marginally (about 2%) over last year, thanks in
part to tight controls and lower employee health insurance costs and
marketing expenditures.
Key Initiatives
During 2013 we renewed our commitment to ensure that WEL residents and
employees have fulfilling and positive experiences in their living and working
environments. In mid-year we hired a culture change leader who started building
the framework for a new approach to senior living that is meant to invigorate
community life for all WEL residents—no matter where they are within the
continuum of care. Additionally, we began an intensive effort to impact the
WEL culture for all employees. We formed an ethics group to focus on the
values-based decisions that guide us. We began to fortify our focus on quality
through the creation of a new program entitled Sustainable Quality Assessment
and Performance Enhancement (SQAPE). To attract and retain the best talent, we
refined our recruitment and promotion processes, re-invented our orientation
program for new hires and made significant enhancements to our online
2
“For more than
a century, the
professional,
dedicated staff at
Wesley has provided
a crucial service to
seniors around the
Delaware Valley.
Following their
guiding values of
grace, honor and
integrity, Wesley has
strived to serve the
aging population
and better their
golden years.”
Excerpt from a
speech read into the
Congressional Record
by Congressman Mike
Fitzpatrick
program of continuing professional education. Additionally, the WEL culture
communication committee designed and conducted programs to re-educate all
staff about WEL’s mission and values, inviting employees of all levels to be active
stakeholders in our evolving culture of innovation and excellence.
Momentum Builds for WELShift
WELShift, a new model for senior health and housing developed by Wesley
Enhanced Living, proposes to coordinate Medicare and Medicaid while creating
incentives to provide quality senior care at a lower overall cost. During 2013,
WELShift received greater reinforcement by the introduction of the Medicare
Residential Care Coordination Act by Congressman Michael Fitzpatrick, which
is legislation that will better facilitate testing for new approaches to senior health
and housing. As concern about the sustainability of entitlement programs shows
increasing urgency, WEL is poised to demonstrate the practicality and viability of
its WELShift model as a comprehensive solution.
The Next 125 Years
WEL is the fabric weaved by the contributions of its board members, residents,
employees, friends, and all other stakeholders, past and present. As we reflect on
our first 125 years and contemplate the next 125 years in pursuing our mission
of “making a compelling difference in the lives of our residents,” upholding
our values of “grace, honor and integrity” and commitment to “doing the right
thing,” we are indeed poised on the verge of doing something great.
While we continue to celebrate where we have come from, we will not rest
until we fulfill our vision “to create a new paradigm of aging services for the
next generation.” We hope you share our pride in being part of this great
organization, and thank you for your continued commitment to WEL.
Sincerely,
Harry G. Symons
Chairperson, Board of Directors
Jeff A. Petty
President & Chief Executive Officer
3
Our C o m m u n it ie s
P ennypack P ark
W
esley Enhanced Living Pennypack Park is the bedrock of the WEL
organization. Now a thriving continuing care retirement community
that includes accommodations for independent living, personal care,
rehabilitation and sub-acute nursing care, it has markedly evolved from its
modest beginnings. Chartered by the Evangelical Association of Churches and
originally called the German Home for the Aged, the community opened its
doors with just two residents in a rented property on North First Street in 1889.
James Teter
Resident since 1997
Jim Teter can’t remember how
many times he passed Wesley
Enhanced Living Pennypack Park
to and from his daily commute. At
that time retirement was far from
his mind and he never imagined
that one day he would actually
make Wesley Enhanced Living his
home. It was a newspaper article
that eventually triggered his interest
in senior living, leading him to
move to the community almost 20
years ago. “What I like most about
living here is the care that’s offered
when needed. Also, I cherish the
friends I’ve made, as well as the staff
and the activities that are available,”
he says with a smile.
Later renamed the Evangelical Home for the Aged, the community’s
leadership recognized the increasing demand for safe, dignified services and
housing for elders and in 1931 initiated construction of a new community on
Roosevelt Boulevard, which is the current address of Wesley Enhanced Living
Pennypack Park.
In 2010 the community underwent a $24 million renovation project that
transformed more than 150,000 square feet of the facility into significantly
enhanced living space and amenities for residents. The renovation has not
only enhanced the campus and building, but has positively impacted resident
life in new and engaging ways.
Pennypack Park at a Glance
♦Location: Northeast Philadelphia
♦First established: 1888
♦ Independent living and personal
care apartments: 111
♦ Skilled nursing beds: 120
♦ Number of employees: 240
4
The flagship of WEL, Pennypack Park grew out of
an 1888 charter entitled the “German Home Society
for Members of the Evangelical Association of
North America in the City of Philadelphia.”
s T apeley
F
ounded in 1904 by the renowned Philadelphia Quaker and
philanthropist Anna T. Jeanes, this stately community in Northwest
Philadelphia was first known as the Boarding Home for the Philadelphia
Quarterly Meeting of Friends and then as Stapeley in Germantown.
As a legacy handed down by its respected founder (who herself lived at
Stapeley for the last three years of her life) the community continues to honor
Quaker principles and a commitment to harmony, equality and integrity.
Indialee Palmer
Resident since 1999
Thirteen years ago as a widow
living alone, Indialee wanted the
safety, security and camaraderie
offered by a senior living community. Having raised her family
just four blocks away, moving here
felt like “home away from home.”
Also, after an impressive visit years
ago to a friend who lived here,
Indialee said she knew right there
and then that “when I retired I
would come to Stapeley.” Today,
Indialee has the delight of witnessing a new, multi-million dollar
renovation that is transforming
Stapeley. “Stapeley has always been
nice, but the renovations are just
wonderful!,” she says.
In 2010 Stapeley affiliated with Wesley Enhanced Living, a collaboration
that fortified both organizations. Stymied by the then crippled economy,
Stapeley needed financial sustenance to continue its tradition of elder service
while WEL, able to provide this support, recognized an opportunity to expand
the services that the Wesley Enhanced Living organization provides to
Philadelphia-area seniors.
Following the affiliation, WEL was able to achieve a significant profit
within just one year. Additionally, WEL invested $5 million for a major
renovation project that launched in 2013 and will conclude in spring 2014.
Enhancements will include complete refurbishment of the rehabilitation and
sub-acute nursing facilities; brand new entrances; re-design of the dining
room, social hall, and library; and the addition of outdoor gardens and
an art studio.
As the newest member of the Wesley Enhanced Living family, Stapeley is a
compelling example of the resourcefulness and foresight that WEL has been
able to successfully draw upon to meet the changing needs of area seniors.
Stapeley at a Glance
♦ Location: Northwest Philadelphia
♦ First established: 1904
♦ Independent living, personal
care and dementia care
apartments: 109
6
Founded in 1904 by distinguished Quaker
philanthropist Anna T. Jeanes, Stapeley continues
to honor Quaker principles and a commitment
to harmony, equality and integrity.
7
UPPER MORELAND
T
he history of Wesley Enhanced Living Upper Moreland began during the
very early years of last century. Historically known as the Orange Home,
the property was established by the Loyal Order of Orangemen to serve
as an orphanage and a haven for the elderly. The original turreted stone
building was constructed in 1901 and by May 1903 eleven individuals
were in residence.
Dorothy Cooper
Resident since 1997
Before her move to Upper Moreland, Dorothy was a 50-year homeowner in the Hatboro area. She had
always been fond of the locale, but
had grown weary of the repairs and
upgrades her home required. Finally, in 1996, to Dorothy’s delight,
Wesley Enhanced Living offered a
solution—new cottages that combined the benefits of a single-family
dwelling without all of the maintenance. Now, almost two decades
later, she remains exuberant about
her lifestyle choice—cherishing the
location, privacy and freedom to
live her life as she wants.
After World War II the Orange Home permanently terminated support for
orphans, turning its focus exclusively on services for seniors. Then in 1995
it affiliated with Evangelical Services for the Aging (ESA), the predecessor to
the Wesley Enhanced Living organization. ESA renamed the entity Maple
Village and then in 2010 changed its name to Wesley Enhanced Living Upper
Moreland as part of a major re-branding of the WEL communities.
The original building, with its gracious Victorian style, still stands today and
includes a combination of studio, one- and two-bedroom apartment homes
that house independent living and personal care residents. Moreover,
in 2006 WEL renovated and expanded the original building, which
was outfitted with an additional wing of 36 apartments, as well as new
recreational spaces for resident programming.
Upper Moreland at a Glance
♦ Location: Hatboro, PA
♦ Cottages: 38
8
The site that Upper Moreland sits on was purchased
on September 26, 1900 for $15,000 by the
Loyal Order of Orangemen. A former farm, it
encompassed 68 acres and was originally intended to
house Protestant orphans and seniors. After World
War II it exclusively became a home for seniors.
9
DOYLESTOWN
O
riginally established by the American Baptist Church, Wesley Enhanced
Living Doylestown was first known as Baptist Estates of Doylestown.
Later renamed Heritage Towers, the community was built in 1980 and
welcomed its first resident in March 1981.
In 1985 Evangelical Manor, which eventually became known as Wesley
Enhanced Living Pennypack Park, assumed management of Heritage
Towers and in 2010 the community was renamed Wesley Enhanced Living
Doylestown to coincide with a major shift in the branding and re-positioning
of the WEL communities.
Alene “Sue” Haines
Resident since 2005
When researching her options
for senior living, Sue toured
more than 20 communities. After
careful deliberation she chose
Doylestown. For Sue it wasn’t just
WEL’s desirable location, maintenance-free living or continuum
of health care services; it was
Doylestown’s legacy of long-term
staff. During her comparison
shopping, Sue asked each community about the average tenure of
its employees. Many could not or
did not reply. WEL was different
with its faction of time-honored
employees. “I ultimately decided
that if it’s a good place to work, it
must be a good place to live,”
says Sue.
In 2006, WEL dedicated $12 million for upgrades to the rehabilitation
and skilled nursing center; refurbishment of the lobby, parlor and dining
rooms; and construction of a rooftop penthouse that includes a panoramic
walking track, fitness center, heated therapy pool, spa, coffee bar, library,
entertainment center and fireplace lounge.
The addition of the amenities-rich penthouse serves as an ongoing testament
to the increased fulfillment, new friendships, and life-affirming dynamics
that occur when best practices in design and aging services intersect. This
addition enabled the community to significantly expand its educational,
recreational and wellness programming.
Doylestown at a Glance
♦ Location: Doylestown, PA
10
Doylestown was established 30 years ago by the
American Baptist Church. Originally known as
Baptist Estates of Doylestown, the community
was built in 1980 and welcomed its first resident
in March 1981.
11
BURHOLME
Wesley Enhanced Living Burholme, established in 1896 and originally
called the German Baptist Home, grew out of the combined efforts of the
Fleischmann Memorial Baptist Church and Pilgrim Baptist Church. Since its
founding, the name of the German Baptist Home has gone through several
iterations, subsequently becoming known as the North American Baptist
Home for the Aged, then as Pilgrim Gardens, and finally, in 2010, as Wesley
Enhanced Living Burholme.
Trudy Kusmaul
Resident since 2004
As a former Olney resident and
member of Fleischmann Memorial
Baptist Church, Trudy Kusmaul
has always been well-acquainted
with Burholme and cherishes fond
memories of sauerkraut suppers
she attended here as a child, as well
as pleasant visits she enjoyed with
her father, who was a Burholme
resident in the 1970s. Then, 29
years ago, Trudy herself made the
move to Burholme. “I love living
here and thank God every day that
I made the right decision,” she says.
In 1995 the community entrusted ownership and management to Evangelical
Services for the Aging, which later became known as Wesley Enhanced
Living in 2004. It enjoyed renewed vigor in 2012 when Wesley Enhanced
Living invested $6 million to modernize and enhance apartments, dining and
recreational amenities, and gardens.
Today Burholme exclusively focuses on personal care, offering a variety of
apartment models and care arrangements for seniors who need support with
activities of daily living.
Burholme at a Glance
♦ Location: Northeast Philadelphia
♦ Personal care apartments: 57
12
Established in 1896 and originally called the
German Baptist Home, Burholme grew out of the
combined efforts of the Fleischmann Memorial
Baptist Church and Pilgrim Baptist Church.
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W E L S hift : W E L ’ s N ew
C ommunity M odel
G ains M omentum
A
ccording to the 2013 Medicare Trustees Report, over the next couple of
decades the Medicare program faces significant challenges:
♦ The
Medicare Hospital Insurance Trust Fund is expected to run out of
money to pay full benefits
♦ The
Medicare beneficiary population is expected to grow by one-third
♦ Overall
Medicare costs are expected to grow between 60-80%
These are indeed foreboding statistics. The fact that America’s seniors may
not be able to look forward to a safe and secure future cannot be ignored.
True to our mission to provide excellence and innovation in aging services and
our vision to create a new paradigm of aging services, Wesley Enhanced Living
has proposed a sustainable solution. Called WELShift (Wesley Enhanced
Living Senior Health and Housing Initiative for Transformation), this
approach has the potential to yield greater than a 20% savings to Medicaid
over a ten-year period* and more than a 30% savings to Medicare**.
With a focus on the long-term health and needs of residents, WELShift
would accomplish this through delivery of comprehensive housing and
health care services that emphasize proactive maintenance and improvement
of health through coordination of care and disease management
programs. Additionally, anticipated outcomes, which include a decrease
in hospitalizations, a reduction in the volume of unnecessary health care
services, and an increase in quality improvement initiatives, are generally
not reflected in the projections noted above and could offer potentially
greater savings opportunities. Ultimately, WELShift would enable millions of
middle-income seniors who are challenged by the cost of elder care to enjoy
newfound accessibility to affordable, high-quality housing and health care.
*Financing a New Integrated Care Model, published by Avelere Health LLC
**Potential Medicare savings based on 2010 CMS data
14
Over the past several years, WEL has interfaced with state and
federal policy makers to elicit the support needed to test WELShift. In 2013,
support for the model grew significantly, gaining traction with congressmen
and senators on both sides of the aisle:
♦ Congressman
Mike Fitzpatrick (R-PA) introduced H.R. 2376, the
Residential Care Coordination Act of 2013, legislation that enables longterm models such as WELShift to be demonstrated. To date, the Medicare
Residential Care Coordination Act has picked up 13 co-sponsors, including
the majority of the Pennsylvania delegation.
♦ Senator
Grassley (R-IA) and Senator Casey (D-PA) also support the idea of
WELShift and are considering the introduction of a companion bill.
Throughout 2014 WEL will continue to build on the momentum that WELShift
has gained. With its potential to make reliable, affordable health care and
housing fully attainable for middle-income seniors, WELShift is a cogent
example of WEL’s staunch commitment to conceive new and sustainable ways
to deliver service for seniors today and in future generations.
15
W esley E nhanced L i v ing
F oundation
T
he Wesley Enhanced Living Foundation (WELF) is the philanthropic
arm of Wesley Enhanced Living that helps WEL by raising funds to
support qualified residents who have outlived their assets, as well as
improve community and spiritual life at all WEL communities.
While successfully maintaining its vital Benevolent Care Fund—the legacy
which provides for residents should they face financial challenges—WELF has
also supported a breadth of renovation and spiritual life projects over the last
10 years including the complete modernization of Pennypack Park, as well as
the construction of beautiful new meditation chapels at several communities.
Throughout the last several
years, WELF has assisted in raising money for worship spaces
that enhance spiritual life at
WEL communities. The Reverend James E. Tallman Meditation Chapel at Pennypack Park
(pictured above) and the Dr.
Emily Gibbes Memorial Prayer
Chapel at Doylestown (pictured
below) are the result of collaborative fundraising campaigns
shared by WELF and
WEL residents and staff.
In 2013, an Ad Hoc Task Force of WELF board members, staff, residents and
volunteers was established to help expand Benevolent Care Fund initiatives.
In 2013, the group succeeded in raising thousands of dollars to support
the Fund. For 2014 and beyond, the Wesley Enhanced Living Foundation
will continue to conceive new traditions, initiatives and programs that
will help to promote and fortify the Benevolent Care Fund; community
enrichment; innovations through technology; growth and expansion; capital
improvements; and endowment funds.
Wesley Enhanced Living Foundation Ad Hoc Task Force
Bottom row left to right: Barbara Clippinger, Agnes Kelly, Betty Mock, Sue Haines. Top
row left to right: Robyn Fine, Nancy Kane, Jeff Dunkle, Elaine Shils, Alan Shils, Ron
Evans, Barbara Quigley, Brian Ruhling, Lori Iller, Jerry Moore, Jeff Petty. Not shown:
Kyle Evans, Bruce Hess, Robert G. Hess, Steven Lorber, Barbara Dietrich, Madaline Muir,
Mike Campbell, Shelley Ballet, Lynn Rinaldi, and Angelo and Joanne Barone.
16
F inancial H ighlights
S
tability is a quality we all desire, especially in an organization to which
you entrust yourself. But it doesn’t just happen on its own. It occurs
following a carefully prepared and carried out plan of action. After
a 125-year history of careful planning and action, WEL has consistently
demonstrated stability year after year.
Viewed from a financial perspective, stability is easily measured. It is the
ability to provide resources to cover today’s needs but also prepare for those
anticipated in the future. Over the past three years, WEL has seen its financial
reserves improve by over $3 million (close to a 30% increase) while investing
over $16 million in physical plant and property improvements with virtually
no increase in long-term debt. An increase to reserves and physical plant
improvements are both key components to preparing for the future.
These physical improvements have been spread over each campus where
the benefits are easily apparent. This has been funded by close scrutiny of
day-to-day operations and consistently high census at all campuses
on all levels of care.
Over the past three years, operating expenses have been contained to an
increase of less than 2%. Net entrance fees from new residents have totaled
over $15 million even though the amount of entrance fees collected have been
depressed due to an orchestrated change to a less expensive resident agreement.
Additionally, investment earnings on reserves and contributions together have
totaled over $4 million. At the same time, over this three-year period, current
liabilities have decreased by nearly $6.7 million, a 42% decrease. All these actions
have helped to continue to build on WEL’s robust 125-year history and we look
forward to 2014 as a year of continued growth and stability for the organization.
17
Consolidated Balance Sheet
(Dollars in Thousands)
2013
2012
2011
Assets
Current Assets
$ 15,358
$ 15,052
$ 22,014
Unrestricted Investments13,78611,33810,645
Assets Limited as to Use 5,043
8,445
8,232
Property & Equpment (net) 97,517 100,994 103,729
Other Assets 7,793
4,102
4,437
Total Assets
$ 139,497
$ 139,931
$149,057
Liabilities and Net Assets
Current Liabilities
$ 9,513
$ 8,844
$ 16,405
Long-Term Debt89,11687,89189,490
Deferred Revenue27,41626,67927,517
Other Long-Term Liabilities 3,148
5,196
4,988
Total Liabilities129,193128,610 138,400
Net Assets10,30411,32110,657
Total Liabilities and Net Assets
$139,497
$139,931
$149,057
Cash & Investments
$ 35,000
Investments
$ 30,000
Cash
Cash & Investments
$ 25,000
$ 20,000
$ 15,000
$ 10,000
$
5,000
$
0
2009
2010
2011
2012
2013
2010
2011
2012
2013
Property, Plant & Equipment
$ 120,000
Property, Plant & Equipment
$ 100,000
$ 80,000
$ 60,000
$ 40,000
$ 20,000
2009
18
Consolidated Statement of Changes in Net Assets
2013
2012
2011
Unrestricted Revenue
Resident Revenue
$44,298
$43,686
$42,892
Amortization of Deferred Fees 4,991
5,050
4,528
Investment Income
1,323486459
Contributions
340
584 1,116
Other1,3731,4361,411
Total Revenue 52,325 51,242 50,406
Operating Expenses
Personnel31,54530,637 30,862
Contracts4,9164,596 4,681
Food and Supplies 4,519
4,370
4,087
Depreciation and Amortization 5,023
5,118
4,398
Utilities, Taxes and Insurance 3,340
3,408 3,391
Interest Expense 3,100
3,220 3,627
Bad Debt Expense
175 257 578
Total Expenses 52,618 51,606 51,624
Operating Income
(293)
(364)
(1,218)
Other Changes in Unrestricted Assets
Change in Fair Value of Swap Agreement 2,004
Loss Disposal of Property & Equipment
(7)
Loss on Extinguishment of Debt
(236)
Loss on Impairment of Assets (3,022)
Unrealized Gain / (Loss) on Investments 1,398
Subtotal of Changes in Unrestricted Assets
137
Increase / (Decrease) in
Unrestricted Net Assets
(156)
Temporary Restricted Net Assets
–
Permanently Restricted Net Assets
435
Change in Net Assets
$
279
$
19
(278)
–
–
–
1,306 1,028
(1,754)
(34)
–
–
(295)
(2,083)
664 (3,301)
–
(66)
–
(321)
664 $ (3,688)
B oard of D irectors
Wesley Enhanced Living
Harry G. Symons, Chairperson
Scott K. Wetherbee, CPA, Vice-Chairperson
George J. Pinel, CPA, Treasurer
Richard Wells, Secretary
Ronald G. Evans
Jerome Kline, Esq.
Wayne Kosik
Thomas Panzer, Esq.
Kevin Pasquay
Alfred Taubenberger
Dr. Mary White
Wesley Enhanced Living Foundation
Kyle Evans, Chairperson
Alene D. (Sue) Haines, Secretary/Treasurer
Ronald G. Evans
Bruce Hess, Esq.
Steven Lorber
Jeff A. Petty
Brian Ruhling
Wesley Enhanced Living Executive Team
Jeff A. Petty, President & Chief Executive Officer
Ken Franiak, Chief Operating Officer
DeWayne McMullin, Chief Financial Officer
Shelley Ballet, Vice President, Marketing & Sales
Jerry Organt, Vice President, Human Potential
20
W esley E nhanced L i v ing
Burholme
The non-profit, faith-based Wesley
7040 Oxford Avenue
Philadelphia, PA 19111
215-745-3517
Enhanced Living continuing care
Doylestown
employees. WEL communities provide
200 Veterans Lane
Doylestown, PA 18901
267-895-1100
Pennypack Park
8401 Roosevelt Boulevard
215-624-5800
Stapeley
6300 Greene Street
215-844-0700
Upper Moreland
2815 Byberry Road
Hatboro, PA 19040
215-675-0103
Affordable Housing
Burholme Senior Residences
7023 Rising Sun Avenue
267-348-2880
Manor Glen
8403 Roosevelt Boulevard
215-543-0442
Meadow House
4649 Paul Street
215-535-3010
retirement communities (CCRCs) serve
over 1,000 residents with more than 900
various combinations of independent
living, personal care services, Alzheimer’s
and dementia care, sub-acute skilled
nursing and rehabilitation and affordable
housing for aging adults. For more
information, please visit www.WEL.org
or call 1-877-U-AGE-WEL.
Our MIS S IO N
To make a compelling difference in
the lives of our residents through
providing excellence and innovation
in aging services.
Our Values
We seek to attract board members,
employees and residents committed to
doing the right thing—in recognizing
and fulfilling our responsibilities
to our mission, each other and the
broader community with:
Grace—a spirit of acceptance, kindness
and compassion
Honor—a sense of uncompromising
honesty and trustworthiness
Integrity—a commitment to moral and
ethical principles
101 East County Line Road, Suite 200, Hatboro, PA 19040 215-354-0565
www.WEL.org
1-877-U-AGE-WEL

the WEL 2013 Annual Report

Transcription

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