Our Fiscal Responsibility...

The COVID-19 pandemic has continued to create uncertainties and financial strains as we have endured the challenges associated with the virus for the last three years. It is no secret that the pandemic has greatly impacted the aging services industry, and PPH is no different.

The pandemic continues to impact our census, accordingly, nursing census averaged 77% occupancy during 2022, a modest improvement over the year prior. Personal Care census also remains pressured, averaging 67% during 2022, a 4% decline from the prior year. The 4th floor of our Personal Care remains closed due to the census challenges. Due to the many COVID-19 outbreaks, PPH was closed to admissions in both our nursing and personal care buildings at various times throughout the year. This decrease in census significantly reduced resident service revenue which we rely on to maintain a balanced budget.

PPH is navigating the challenges to increase census while ensuring we have the adequate staff to care for our residents. The nationwide staffing shortages have made staffing recruitment and retention even more challenging.

In addition to revenue reduction, the pandemic has had a direct impact on increased expenses. PPH is still experiencing increased expenses related to the pandemic including

$26.9 MILLION TOTAL LIABILITIES

$57.4 MILLION TOTAL ASSETS

$30.5 MILLION TOTAL NET ASSETS the purchasing of Personal Protective Equipment (PPE), COVID Testing and Salary Continuation for Employees who are out of work as a result of contracting COVID-19. In 2022 alone, PPH spent over $200,000 in COVID testing for both staff and residents.

In summary, PPH’s 2022 financial statements reflect total assets of $57.4 million including $22.0 million in investments, total liabilities of $26.9 million and total net assets of $30.5 million. PPH ended the year with an operating loss of $1.0 million due to the various challenges of the COVID-19 pandemic and lack of further federal government stimulus funding.

With little to no COVID funding in the horizon, PPH’s prudent financial accountability will continue to be a main priority. We will continue to address all we do from caring for residents, staff, and finances, proactively, as the future of senior living evolves.

Please note our complete 2022 financial statement can be accessed on our website, pphfamily.org, under the About Us section.

Re

2022 Total Expenses: $31.4 (million)

2022 Total Expenses: $31.4 (million)

2022 Total Expenses: $31.4 (million)

62%

Benevolent Care Fund: 5-Year

Ben evole n t Car e Fund : 5 -Year

Ben evole n t Car e Fund : 5 -Year

Through our Benevolent Care Fund, residents are assured that care and support services are always available, even if they can no longer afford the costs on their own. This additional layer of peace of mind and security was especially critical during the coronavirus pandemic.

Through our Benevolent Care Fund, residents are assured that care and support services are always available, even if they can no longer afford the costs on their own. This additional layer of peace of mind and security was especially critical during the coronavirus pandemic.

Through our Benevolent Care Fund, residents are assured that care and support services are always available, even if they can no longer afford the costs on their own. This additional layer of peace of mind and security was especially critical during the coronavirus pandemic.