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CONSOLIDATED STATEMENT OF ACTIVITIES
DECEMBER 31, 2008 AND 2007

 
2008
 
2007
Revenues, Gains and Other Support
     
Skilled nursing facilities
$67,119,596
 
$62,924,739
Day treatment centers
7,898,155
 
7,533,439
Certified home health agency
31,520,413
 
34,161,980
Case management
2,763,057  
2,087,996
Long-term home health care program
6,940,739
 
4,872,304
Grants & contributions
3,644,613
 
772,647
Other revenues
1,292,069
 
7,941,889
 
 
 
 
Total revenues, gains and other support
$133,881,548
 
$120,294,994
 
 
 
 
Expenses
 
 
 
Skilled nursing facilities
$51,353,703
 
$46,462,730
Day treatment centers
7,299,319
 
7,533,669
Certified home health agency
34,303,074
 
26,883,197
Case management
2,727,720
 
2,161,554
Long-term home health care program
6,664,783
 
4,814,098
Interest
1,824,882
 
2,072,448
Depreciation and amortization
6,669,742
 
6,308,898
New York State revenue assessment
3,810,544
 
3,740,359
Other
16,801,141
 
17,816,174
 
 
 
 
Total Expenses
136,659,650
 
$117,813,127
 
 
 
 
Change in net assets before other charges
(2,778,102)
 
2,481,867
Net assets—beginning of year
40,186,815
 
37,704,948
 
     
Net assets—end of year
$34,907,007
 
$40,186,815
 
 
 
 

CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2008 AND 2007

     
       
Current Assets
 
 
 
Cash & investments
$38,378,770
 
$43,668,380
Accounts receivable
 
 
 
(net of allowance for doubtful accounts of $7,161,034 in 2008 and $5,683,981 in 2007)
21,889,088
 
21,618,283
Other current assets
3,519,263
 
3,474,532
 
 
 
 
Fixed assets
     
(net of accumulated depreciation and amortization of $75,049,805 in 2008 and $68,211,616 in 2007)
59,057,802
 
58,645,779
Other non-current assets
50,816,075
 
46,056,996
 
 
 
 
Total assets
$173,660,998
 
$173,463,970*
 
 
 
 
Liabilities and Net Assets
 
 
 
 
     
Accounts payable and accrued expenses
13,946,803
 
14,434,477
Due to third parties
42,706,134
 
27,721,625
Other payables
7,229,938
 
11,747,385
 
 
 
 
Total current liabilities
$ 63,882,875
 
$63,903,127
 
 
 
 
Net Assets
 
 
 
Unrestricted
34,777,807
 
40,122,615
Restricted
129,200
 
64,200
 
 
 
 
Total unrestricted net assets
34,907,007
 
40,186,815
 
 
 
 
Total liabilities and net assets
$173,660,998
 
$173,463,970*


 

 

 

 

 

 

 

 

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