VLF 2023 Impact Brochure Digital Brochure - Flipbook - Page 13
Vicar’s Landing Financial Statement
Life Care Ponte Vedra, Inc. And Subsidiary
Condsolidated Statements Of Operations And Changes In De昀椀cit
Years Ended December 31, 2023 and 2022
Condsolidated Balance Sheet
December 31, 2023 and 2022
2023
2022
Residential Service Fees
23,685,171
15,605,157
Earned Entrance Fees
11,409,649
5,351,403
Revenues, Gains, And Other Support
36,018,006
Other Assets
2023
2022
ASSETS
Total Current Assets
Life Care Ponte Vedra, Inc. And Subsidiary
-
47,330,927
55,987
Assets Whose Use Is Limited, less current portion
13,420,659
15,018,060
Health Services Fees
7,454,039
5,191,912
Right Of Use Lease Assets, Net
36,680,254
38,038,782
Other Income
3,350,820
-
Property And Equipment, Net
170,623,530
143,293,860
Investment Income (Loss), Net
3,450,185
(3,624,347)
Total Assets
256,742,449
243,737,616
Total Revenues, Gains, And Other Support
49,349,864
22,524,125
Total Operating Expenses
42,647,362
29,141,175
6,702,502
(6,617,050)
(47,582)
151,136
6,654,920
(6,465,914)
51,685
16,137
LIABILITIES AND NET DEFICIT
Total Current Liabilities
12,043,236
27,889,578
Line Of Credit, Net
-
8,093,328
Bonds Payable, Net
107,835,662
117,096,498
Lease Liability, Net
42,379,328
42,381,768
Deferred Revenue From Entrance Fees
97,984,305
57,692,180
Refundable Entrance Fees
27,880,253
28,653,409
288,122,784
281,806,761
(31,481,964)
(38,136,884)
101,629
67,739
Total Net De昀椀cit
(31,380,335)
(38,069,145)
Total Liabilities And Net De昀椀cit
256,742,449
243,737,616
Total Liabilities
Net Assets (De昀椀cit)
Without Donor Restrictions
With Donor Restrictions
Income (Loss) From Operations
Other Change In Net De昀椀cit
Change In De昀椀cit Without Donor Restrictions
Contributions
Net Assets Released From Restrictions
Change In Net De昀椀cit
(17,795)
-
6,688,810
(6,449,777)
Net De昀椀cit At Beginning Of Year
(38,069,145)
(31,619,368)
Net De昀椀cit At End Of Year
(31,380,335)
(38,069,145)
“Through diligent 昀椀nancial management
and strategic planning, we uphold a legacy
of 昀椀nancial stability, ensuring a sustainable
future for our community.”
Darren Roy, Chief Financial O昀케cer
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