Westlake, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Devon Oaks Assisted Living Corporation, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $6.0M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 18% operating margin.
We affirm the dignity and individual worth of older adults and their right to attain the highest possible quality of life. We strive to nurture and sustain their physical, emotional, intellectual, social and spiritual health. We are committed to having a community in which every member is equally respected, valued and empowered.
Devon Oaks is a premier Assisted Living community operating 54 assisted living units and 12 memory support units, supporting older adult residents needing assistance with activities of daily living...
Devon Oaks is a premier Assisted Living community operating 54 assisted living units and 12 memory support units, supporting older adult residents needing assistance with activities of daily living and who are experiencing mid-stage Alzheimer's disease and related dementia. Devon Oaks offers residents and families peace of mind by providing services that include: licensed, professional staff on duty 24 hours a day; access to a physician and nurse practitioner; medication management provided by in-house clinical staff; transportation to hospital and physician appointments as well as community events; full-time physical therapist; 24-hour assistance with activities of daily living such as dressing, meals, mobility, and hygiene; meaningful activities that promote engagement and socialization; memory support care; and respite care.Devon Oaks Assisted Living Corporation operates within the Eliza Jennings Senior Care Network, a provider of residential and community-based aging services which includes Eliza Jennings Inc, Olmsted Assisted Living Corp, Olmsted Health & Services, Olmsted Resident Corp, Acacia Place Adult Day Center, and the flagship skilled nursing community Eliza Jennings Home. In December of 2023, Eliza Jennings Inc. acquired the assets of and is now operating a senior living community in Chagrin Falls, Ohio (southeast of Cleveland) under the licensed trade name Eliza at Chagrin Falls which includes 75 traditional assisted living units, 18 memory support units, and 27 skilled nursing units (29 licenses).As a nationally recognized innovator and expert in aging services, Eliza Jennings Senior Care Network offers a full spectrum of memory support programming and services to older adults with Alzheimers disease and other dementias throughout its residential communities and adult day program and provides home health services through Northeast Ohio Homecare (offering skilled nursing and in-home therapy services to assist older adults who live independently in their home). The Eliza Jennings Senior Care Network is committed to offering compassionate care and support to individuals and their families who are facing advanced illness and end-of-life care decisions and offers hospice services though Northeast Ohio Hospice, geared to providing choices that sustain dignity and autonomy, while enhancing comfort and quality of life during this difficult time.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $5,954,781 | $4,437,692 | +0.3% |
| Expenses | $4,905,737 | $4,526,010 | +0.1% |
| Net Income | $1,049,044 | $-88,318 | -12.9% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Richard M Boyson Jr | President & CEO | 0.00 |
Officer
Director
|
$0 | $40,532 | $437,606 |
| Kathleen M Shields | CFO | 0.00 |
Officer
|
$0 | $6,308 | $213,187 |
| Jennifer Griveas | VP of Legal | 0.00 |
Officer
|
$0 | $15,453 | $187,485 |
| Michael Gray | CIO | 0.00 |
Officer
|
$0 | $1,466 | $137,228 |
| Richard L Fletcher | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Alayne J Fodor | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Glenn S Krassen | Secretary | 0.00 |
Director
|
$0 | $0 | $0 |
| Richard L Fox | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Margaret Hartney | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Michele Messina | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| James Rogerson | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Patricia M Scanlon | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Sheryl L Sereda | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Terrie Shrock | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| John P Stoner | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Allen R Tracy | Treasurer | 0.00 |
Director
|
$0 | $0 | $0 |
| Rick Weigle Jr | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Margaret G Weitzel | Chair | 0.00 |
Director
|
$0 | $0 | $0 |
| Hilton Young | Trustee | 0.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $5,954,781 | $4,905,737 | $5,892,074 | $1,049,044 |
| 2023 | $4,437,692 | $4,526,010 | $4,183,249 | $-88,318 |
| 2022 | $4,618,783 | $4,138,829 | $45,800 | $479,954 |
| 2021 | $4,167,902 | $3,182,729 | $7,580,543 | $985,173 |
| 2020 | $4,147,077 | $3,139,285 | $5,071,344 | $1,007,792 |
| 2019 | $4,033,505 | $3,168,958 | $8,893,627 | $864,547 |
| 2018 | $3,861,778 | $3,306,984 | $5,902,004 | $554,794 |
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