TO OUR COMMUNITY:
As we reflect on the past year, we are pleased to share RiverMead’s 2024 Annual Report, a testament to the vibrant, engaged, and forward-thinking community we continue to build together. This year has been one of renewal, innovation and deepened connections advancing our mission to provide exceptional living experiences for all who call RiverMead home.
A key focus in 2024 was the thoughtful renovation of our campus, ensuring that our living spaces, amenities, and shared environments continue to support the comfort, engagement and well-being of our residents. These improvements reflect our dedication to maintaining the highest standards while preserving the warm and welcoming atmosphere that makes RiverMead so special. Beyond physical enhancements, we introduced new programs and initiatives designed to enrich daily life, foster connections and promote overall wellness. From expanded lifelong learning opportunities to vibrant cultural and social events, we are proud of the ways our community has come together to learn, grow and celebrate.
Financially, RiverMead remains strong, ensuring long-term stability and continued investment in our future. Our strategic planning and sound stewardship allow us to look ahead with confidence, always prioritizing the well-being of our community.
As we move into 2025, we do so with deep appreciation for the trust you place in us, for the friendships that bring our community to life and for the shared commitment to making RiverMead an exceptional place to live and work. Thank you for being an integral part of this journey.
With gratitude for your continued trust and support,
Lara Shea
Lara Shea Chief Executive Officer
Joseph Caracappa
Joseph Caracappa Board Chair
OUR BOARD OF DIRECTORS
Joe Caracappa, Board Chair
Peter Imhoff, Vice Chair
Gerald DeBonis, MD
Gerald “Jerry” Galus
Thomas Ferenc
Cynthia McGuire
Carole Monroe
Robert Edwards, Treasurer
Beth Fernald, Secretary
John Morison III
Peter Rotch
Mary Ellen Spencer
Mary Vallier-Kaplan
OUR LEADERSHIP TEAM
LARA SHEA
Chief Executive Officer
JEREMY
BLYDENBURGH-COTE
Director of Marketing
JAIME CONLEY
Chief Financial Officer
Chief Operating Officer
RICKY
BLYDENBURGH-COTE
Director of Operations
MEGHAN COOK
Health Center Administrator
JASON DUVAL
Director of Facilities and Safety
SHERRY GAUTHIER
Director of Resident Services
Director of Environmental Services JENNIFER FIFE
RICHARD SCHIMPF
Director of Culinary Services
JEN SKELTON
Director of Nursing
JULIE SIMO
Controller
KATE WASSERLOOS
Human Resources Manager
BUILDING TOMORROW:
INNOVATING
AND EVOLVING
FOR THE NEXT GENERATION OF OLDER ADULTS
In 2024, RiverMead is proud to share the strides we ’ ve made in enriching the lives of older adults. We are dedicated to creating a future that is not only connected and comfortable, but also sustainable and empowering for both our residents and employees.
This year, we ’ ve enhanced our operations to elevate efficiency and quality, ensuring we meet the evolving needs of our community. At the heart of everything we do is our unwavering commitment to providing exceptional care and comfort for our residents, while fostering a supportive, empowering environment for our team.
Through thoughtful upgrades to our homes and shared spaces, we ’ ve created environments that inspire connection and well-being. By embracing technology, we help our residents stay independent and engaged in a digital world. Our refreshed branding and expanded educational programs reflect our continuous growth and purpose.
As we look ahead, RiverMead is excited to continue leading the way, innovating, and building a brighter future for the next generation of older adults. Together, we ’ re shaping a legacy of care, connection, and possibility.
BUILDING TOMORROW THROUGH:
Tembo Health
Tembo Health offers 24/7 urgent care with licensed ER doctors available through telemedicine, providing our residents with convenient access to medical support at any time of day or night. By subscribing to this service, we've helped reduce unnecessary ER visits and ensured that residents' healthcare questions are answered promptly, offering peace of mind for their well-being.
Technology
We are committed to using technology to lead the way in senior living. By embracing automation and modern tools, we enhance both the staff and resident experience, making everyday life more efficient, comfortable, and enjoyable. Our technological innovations are a key part of our commitment to staying ahead of the curve for the next generation of older adults
Refreshed Training Programs
We are proud to offer new Licensed Nursing Assistant (LNA) and Medication Nursing Assistant (MNA) programs designed to develop the leaders of tomorrow. By investing in the education of our staff through educational reimbursements and opportunities like conferences and the LeadingAge Network, we ensure that our team is well-prepared to meet the evolving needs of our residents.
Updated Community Spaces
We’ve given our original Mead Campus a modern facelift, upgrading community spaces to reflect the desires and needs of today’s seniors If you haven’t visited RiverMead in a few years, we invite you to come back and see how our enhancements have transformed the space, creating a more vibrant and welcoming environment for all.
Sustainable Practices
Sustainability is an important topic at RiverMead, inspired by the enthusiasm of our residents for eco-friendly living. From implementing energy-efficient practices to reducing waste, we support a healthier environment for both for our community and the planet.
Refreshed Logo and Branding
We’ve evolved significantly over the past decade, and our updated logo and branding reflect this transformation. The refreshed design captures the dynamic, energetic, and vibrant community we ’ ve become, aligning our visual identity with the lively spirit of today’s RiverMead experience.
FINANCIAL UPDATE
STATEMENT OF OPERATIONS
Revenue:
ResidentServiceFees
AmortizationofAdvanceFees
AssistedLivingFees
InterestandDividendIncome
ContributionsandBequests
NetAssetsReleasedfromRestrictions-Operations
OtherOperatingRevenue
Total Revenue:
Expenses:
Administrative&General
Marketing
ResidentServices
Facilities
EnvironmentalServices
CulinaryServices
HealthServices
Utilities,Insurance&Tax
EmployeeBenefits
Interest
DepreciationandAmortization
TotalExpenses:
2024
$16,307,106
$5,928,100
$7,053,630
$806,018
$21,297 $44,661 $500,215
$30,661,027
2024
$2,391,336
$572,064
$1,249,167
$1,829,139
$1,294,163
$4,323,808
$5,309,590
$3,207,928 $1,688,389 $1,614,701 $4,871,067 $28,351,352 2023 $2,129,001 $453,411 $1,202,049 $1,817,037 $1,213,849 $4,137,314 $5,131,823 $2,871,324 $1,691,021 $1,667,999 $4,894,992 $27,209,820 2023 $15,329,776 $5,648,814 $5,838,874 $492,314 $6,321 $97,992 $402,214 $27,816,305
OperatingIncome: 2024 $2,309,675 2023 $606,485
FINANCIAL RATIOS
FOR
THE YEAR ENDING DECEMBER 31, 2024
Summary
Baker Tilly, CARF and Ziegler collaborate annually to provide benchmarking information for CCRCs based financial and other information provided by organizations from the prior year. The information below describes the calculation and importance of selected ratios as well of how RiverMead compares to its peers (Single Site CCRCs with a Type A Contract).
I. PROFITABILITY RATIOS
Net Operating Margin
RiverMead’s Ratio and Benchmarking: 8.32% | 4 Quartile (Highest) th
Description: The Net Operating Margin ratio measures the percentage of net resident revenue to total resident revenue. A higher margin indicates efficient cost management and profitability
Calculation: (Resident Revenue - Resident Expenses) / Resident Revenue
Resident Revenue = Total Operating Revenues, excluding interest/dividend income, entrance fee amortization and contributions
Resident Expense = Total Operating Expense, excluding interest expense, depreciation, amortization, and income taxes (if applicable).
Net Operating Margin - Adjusted
RiverMead’s Ratio and Benchmarking: 32.49% | 4 Quartile (Highest) th
Description: The Net Operating Margin - Adjusted ratio measures the organization’s net operating performance, adjusted for the impact of cash net entrance fee receipts
Calculation: (Resident Revenue + Net Proceeds from Entrance Fees – Resident Expenses) / Resident Revenue
Resident Revenue = Total Operating Revenues, excluding interest/dividend income, entrance fee amortization and contributions.
Resident Expense = Total Operating Expense, excluding interest expense, depreciation, amortization, and income taxes (if applicable)
FINANCIAL RATIOS
FOR THE YEAR ENDING DECEMBER 31, 2024
II. LIQUIDITY RATIOS
Days Cash on Hand
RiverMead’s Ratio and Benchmarking: 412 Days - 2 Quartile (3 Highest) nd rd
Description: The Days Cash on Hand ratio measures the number of days of cash operating expenses a provider could cover with its unrestricted cash, cash equivalents and marketable securities, exclusive of trustee held or donor restricted funds.
Calculation:
Unrestricted Cash and Investments / (Operating Expenses – Depreciation – Amortization) / 365
III. CAPITAL STRUCTURE RATIOS
Debt Service Coverage
RiverMead’s Ratio and Benchmarking: 2.86 – 2 Quartile (3 Highest)
Description: The Debt Service Coverage ratio measures the organization’s ability to fund its annual debt service requirements with cash flow from operations and net proceeds from entrance fees.
Calculation:
(Total Excess of Revenues over Expenses + (Interest, Depreciation and Amortization) –Amortization of Deferred Revenue + Net Proceeds from Entrance Fees)) / Annual Debt Service
Debt Service Coverage Revenue Basis
RiverMead’s Ratio and Benchmarking: 0.74 – 3 Quartile (2 Highest)
Description: The Debt Service Coverage Ratio – Revenue Basis measures the organization’s ability to fund its annual debt service requirements with cash flow from operations, but without the impact of net proceeds from entrance fees. A strong Debt Service Coverage –Revenue Basis demonstrates an organization’s ability to meet is debt service obligations through revenues alone (i.e., exclusive of net entrance fees from independent living turnover).
Calculation:
(Total Excess of Revenues over Expenses + (Interest, Depreciation and Amortization) –Amortization of Deferred Revenue)) / Annual Debt Service
FINANCIAL RATIOS
FOR THE YEAR ENDING DECEMBER 31, 2024
Unrestricted Cash & Investments to Long Term Debt
RiverMead’s Ratio and Benchmarking: 55.88% - 2 Quartile (3 Highest) nd rd
Description: The Unrestricted Cash & Investments to Long Term Debt ratio measures the provider’s position in available cash and marketable securities in relation to its long-term debt, net of current portion.
Calculation: Unrestricted Cash & Investments / Long Term Debt, Less Current Portion
Average Age of Community
RiverMead’s Ratio and Benchmarking: 11.5 – 3 Quartile (2 Highest) rd nd
Description: The Average Age of Community ratio measures the organization’s capital investment in its buildings and grounds. A lower ratio generally indicates the organization consistently reinvests in its capital assets so that the organization remains attractive and viable for future residents
Calculation: Accumulated Depreciation / Depreciation Expense
Notes: The information above represents RiverMead’s internal calculations of CARF ratios and related analysis With the exception of the calculations of RiverMead’s Debt Service Coverage and Days Cash on Hand ratios, which were reviewed as part of RiverMead’s annual audit, this information has not been independently reviewed or verified. Please consult the audited financial statements and your financial or other advisor(s) when evaluating the financial performance of any CCRC.
Reference: 2024 Financial Ratios & Trend Analysis of CARF Accredited Continuing Care Retirement Communities
EVOLVING TOGETHER: OUR UPDATED MISSION AND VALUES
We’ve recently updated our mission and values to better reflect the RiverMead of today. This revised statement is the result of a collaborative effort, bringing together the perspectives of residents, staff, and board members. The new mission and values align with our current goals while honoring the vision that has guided us from the start.
This update is a natural evolution, one that ensures we remain focused on what matters most as we continue to grow and thrive together. We're excited to move forward with a refreshed sense of purpose and unity!
OUR MISSION
At RiverMead, community and inclusivity are at the heart of what we do. Residents are empowered to lead a vibrant lifestyle of their choosing with access to dynamic wellness opportunities We are committed to provide exceptional non-profit LifeCare services by cultivating a thriving workplace experience, in a financially responsible manner.
OUR VALUES
Collaboration: Among Residents, Staff, and Families
Diversity: Of Perspective and Individuality
Enjoyment: In the Everyday
Innovation: Of Thought and Practice
Integrity: In our Relationships and Work
Respect: Of Self and Others
Sustainability: Of Environment and Resources
FRESH LOOK, TIMELESS LEGACY
RiverMead is celebrating an incredible 30 years of growth, service, and community a true milestone! Over the years, we've built a strong legacy of trust and innovation, adapting to the changing landscape while staying true to our core values.
To mark this special occasion, we're excited to unveil a refreshed branding and logo. This update is more than just a new look it’s a reflection of how far we've come and the exciting changes we've made in recent years. It’s all about embracing the future while honoring our legacy.
Here’s to 30 years of success and to the bright future ahead. We can’t wait to share this next chapter with you!
TECHNOLOGY THAT TRANSFORMS CARE
At RiverMead, we are committed to delivering a new standard of care through advanced technologies such as Tembo Health and the Guide Program. These innovations empower our residents whether in Assisted Living, Memory Support, or Independent Living to live with enhanced independence, dignity, and connection.
Tembo Health: Revolutionizing Healthcare
Tembo Health allows RiverMead residents to access real-time virtual healthcare consultations, ensuring timely care for urgent conditions without the need to leave their homes. This service not only helps prevent costly emergency room visits but also enables residents to proactively manage their health from the comfort and convenience of their apartments.
The Guide Program: Personalized Support for Dementia Care
The Guide Program at RiverMead is built on the Centers for Medicare & Medicaid Services' GUIDE (Guiding an Improved Dementia Experience) Model and powered by Tembo Health. This program offers a technology-driven approach to dementia care, providing personalized care plans tailored to the specific needs of residents with dementia. With 24/7 access to a dedicated support team, families have assistance in navigating the healthcare system, coordinating care, scheduling appointments, and connecting with specialists to ensure the highest standard of care. What distinguishes the program is the integration of advanced technology, which allows for continuous monitoring of the health and well-being of residents with dementia. This ensures consistent, quality care from licensed clinicians around the clock, improving outcomes and offering families peace of mind.
A Future of Possibilities
At RiverMead, technology is not just about convenience it is a tool that empowers residents to live their best lives. Whether in Assisted Living, Memory Support, or Independent Living, our advanced solutions foster independence, enhance health outcomes, and improve overall quality of life.
UPDATED COMMUNITY SPACES
At RiverMead, we ’ ve completely reimagined our community spaces to reflect the vibrant spirit of today’s seniors. Our newly refreshed areas are designed to meet the tastes and desires of an incoming generation of residents one that values connection, excitement, and modern comforts.
If you haven’t had the chance to visit RiverMead in the past few years, now ’ s the perfect time to come back and see the incredible changes for yourself!
Our revitalized spaces are more than just places to live they’re vibrant hubs where you can thrive, socialize, and feel truly at home. From stylish lounges to inviting outdoor areas, everything has been designed with today’s active, engaged lifestyle in mind.
RiverMead is a place where you can live life to the fullest, surrounded by opportunities to explore new interests, meet new people, and enjoy every moment. Whether you ’ re joining a fitness class, attending community events, or simply relaxing in beautifully designed spaces, you’ll feel the difference in every corner
Come see why RiverMead is the place to be, and discover how we ’ ve created a community that’s as dynamic as you are!
