Plymouth Place is financially sound, exceeding all requirements for cash reserves and boasting an outstanding history of longevity, resident and employee satisfaction, high census rates, generous philanthropic support, and overall excellence. Our future has never looked brighter!
Our legacy means everything. We are well respected by the local communities, government officials, churches, and service providers with whom we partner to serve our residents.
The reserve fund supports benevolence and capital needs, and serves as an overall reserve fund.
Our bondholders require 180 days cash on hand, and we currently hold 375 days. The average for the past 18 months is 354 days.
The ratio of income available for debt service coverage required by our bondholders is 1.3; we are at 2.70. Our average for the past 18 months is 2.45.
We are honored by the generous philanthropic support of Plymouth Place by our residents, business partners, and others.
All monies earned are invested into the community for capital improvements, debt reduction, resident services, benevolence support, and reserves. In contrast to for-profit communities, which seek to maximize return to shareholders, we have no shareholders. As a 501(c)(3) not-for-profit charity, we exist to serve our residents.
Over the past two years, we have invested $10 million in our main building, including refreshed décor, equipment, advanced technology, and life-enrichment programming. Investing in emerging technology and resident amenities is a top priority and another indicator of a financially healthy community. Our financial strength has allowed us to update and expand, building the Center for Healthy Living and The Arboretum Villas.
Our residents are active, engaged and invested in our community.
Our entrance-fee model is an important driver of our culture of excellence and our ability to deliver services at a very high level. Rental fee communities do not require an entrance fee, but often require a non-refundable community fee. As a result, many rental models do not offer the breadth of life-enrichment programing, personal services, resident amenities, or levels of clinical excellence that Plymouth Place provides.
Once a resident is part of the Plymouth Place family, we are committed to their vitality and continued lifestyle. In 80 years, we have never asked anyone to leave because they have run out of financial resources.
Plymouth Place has an outstanding track record on entrance fee refunds. We are a premier senior living community with consistently high census levels, which frequently results in a wait list for future openings.
We partner with local and national nonprofit organizations to create synergy, support our mission, serve others outside our walls, and invest in the greater community. Plymouth Place commits over $125,000 of our resources—including staff time, building space, clinical expertise, social programming, and monetary contributions—to a variety of organizations including Rotary, Interfaith Community Partners, Aging Care Connections, Pillars, and the Council for Health and Human Resources. We are honored to partner with these excellent organizations in giving back to those in need.
Our Skilled Rehab neighborhood is accredited by The Joint Commission on Accreditation of Hospitals. This three-year accreditation, achieved in 2023, is given after an in-depth survey and rigorous review of all policies, practices, clinical outcomes, resident satisfaction, and overall leadership of this neighborhood. Furthermore, we are annually inspected and licensed by the Illinois Department of Public Health in our community’s Rehab and Skilled Care, Assisted Living, and Memory Care neighborhoods. Similar to The Joint Commission, there is an in-depth review of our clinical practices, quality outcomes, nursing practices, and compliance with IDPH standards for skilled and assisted living care. Each year, Plymouth Place has achieved outstanding results in these areas.
We have an outstanding location with easy access to the downtown area of La Grange, La Grange Park, and Western Springs. Multiple restaurants and other retail and banking locations are within walking distance, as is the Metra train station, which is only two blocks away. Our community is a mirror image of the social fabric and strong economics of our primary market. This provides for a strong resource of services, future residents, and financial strength for Plymouth Place.