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Community Information for January 20XX About Crimson Cougar Senior Living: Crimson Cougar senior living is a senior living community located in your favorite town. It has a total of 80 apartments, offering both assisted living and memory care services. Residents of the Crimson Cougar receive three meals a day, weekly housekeeping, scheduled transportation and a wide variety of activities included in their base monthly rent. In addition to the monthly rent, residents pay a fee for the care they receive. This fee is based on the type of services and amount of support they need each month. Key information about the Crimson Cougar is included below. This information is important for calculating and understanding the financial performance of the community. Community Information Number of Apartments Assisted Living 60 Memory Care 20 Current Occupancy Assisted Living 90% Memory Care 90% Revenue Information Average Rent (Base) Assisted Living 5 3,500 Memory Care 5 4,392 Other Revenue Community Fee $ 3,000 per move-in Other Ancillary* $ 4,500 per month Monthly Move-Ins 2 Monthly Move-Outs 2 Average Care (Per Resident/Mo) Assisted Living 5 840 Memory Care 5 1,000 Concessions 8: Discounts Rent Discounts $ 5,000 per month Concessions 5 3,000 per move-in *Anclllary revenues include guest meals, salon lease, second occupancy fees, and fees for special events Expense Information Monthly Operating Expenses Labor $ 140,363 Other S 77,330 Management Fee 5% of Revenue Other Expenses Interest Expense 11,000 Gross Revenue - Gross Revenue, or Revenue, is the total of all income for a community for a set period of time, in this case, one month. The two primary sources of revenue for most communities are rent and care fees. Additional, or anciallary, revenues come from community fees paid at the time of move-in, guest meals, or fees for special events or extra services. To calculate Gross Revenue complete each of the steps below, inserting the information you know about Crimson Cougar Senior Living into the Green Cells 1. Calculate Occupied Apartments 96 Occupancy x Total Apts = Occupied Apts Assisted Living 90% 60 Memory Care 90% 20 Total Occupied Apartments 2. Calculate Monthly Rental Revenue Rent/Apt x Occ Apts = Rental Revenue Assisted Living 3,500 54 189,000 Memory Care 4,392 18 79,056 Total Rental Revenue 268,056 3. Calculate Monthly Care Fees Care Fees/Apt x Occ Apts = Rental Revenue Assisted Living 840 54 45,360 Memory Care 1,000 18 18,000 Total Ca re Fees 63,360 4. Calculate Ancillary Revenue Fee per MI x it of Mls = Total Comm Fee Community Fee 3,000 0 - Other Ancillary 4,500 Total Ancillary Revenue 4,500 5. Calculate Revenue Adjustments (these are subtracted from all other revenue) Per Ml x it of Mis = Total Concessions Concessions 3,000 2 6,000 Rent Discounts 5,000 Total Revenue Adjustments 11,000 5. Calculate Gross Revenue Total Rental Revenue 268,056 Total Ca re Fees + 63,360 Total Ancillary Revenue + 4,500 Total Adjustments - 11,000 Total Revenue 324,916 54 18 72 Simplied Income Statement (Using the Information About Crimson Cougar Senior Living, Complete the Following income Statement) Revenues Less Adjustments Total Revenue Less Expenses Net Operating Income (NOI) Less Interest, Taxes, Depreciation, Amortization, Rent Net Income
