FRIENDSHIP APARTMENT VILLAGE CORPORATION

LIFE LEASE AND RENTAL APARTMENTS FOR THE ELDERLY, THE CORPORATION OWNS AND OPERATES 309 UNITS, WITH A 93.6% OCCUPANCY RATE FOR THE FISCAL YEAR. ONE OF THE ADVANTAGES OF LIVING IN OUR RETIREMENT COMMUNITY IS THE OPPORTUNITY TO MOVE TO ONE OF OUR OTHER FACILITIES IF THE RESIDENT NEEDS A HIGHER LEVEL OF CARE SUCH AS ASSISTED LIVING OR A SKILLED NURSING FACILITY WITHOUT LEAVING THE COMMUNITY WHERE THEY HAVE DEVELOPED FRIENDSHIPS AND TIES. IN ADDITION, WE PROVIDE COUNSELING AND ASSISTANCE FOR THOSE WHO SUFFER FINANCIAL HARDSHIPS, AND WORK WITH THEM TO IDENTIFY SOLUTIONS IN AN ATTEMPT TO ALLOW THEM TO REMAIN IN THIER APARTMENTS.THE CORPORATION FURNISHES AN APARTMENT TO FRIENDSHIP HEALTH AND REHAB CENTER, INC, AND AN APARTMENT TO FRIENDSHIP HEALTH AND REHAB SOUTH, INC, RELATED NPOS, FOR NURSES WHO WORK SPECIAL SHIFTS, SUCH AS 8 HOURS AT WORK AND 8 HOURS OFF. THIS GIVES THE NURSES AN OPPORTUNITY TO GET ADEQUATE REST. IT ALSO HELPS MAINTAIN STAFF ON CAMPUS DURING EMERGENCY SITUATIONS. EVENTS ARE PLANNED EACH MONTH FOR TRIPS IN THE AREA AND OCCASIONALLY OR OF THE AREA. THERE IS ALSO A CONTRACT REGISTERED NURSE FROM PROFESSIONAL HEALTH CARE SERVICES, INC., A RELATED CORPORATION, WHO VISITS RESIDENTS AND ADMINISTERS BLOOD PRESSURE CHECKS, B-12 SHOTS AND OTHER SIMILAR NEEDS.THE CORPORATION DISTRIBUTES A MONTHLY NEWSLETTER CALLED "THE FRIENDLY CIRCLE" TO THE RESIDENTS. IT IS FREE, HAS NO PAID ADVERTISING IN IT, AND CONTAINS ARTICLES AND A CALENDAR OF COMING EVENTS USEFUL TO THE RESIDENTS. THERE ARE ARTICLES BY THE DIRECTOR OF RESIDENTIAL SERVICES, PHARMACISTS, DOCTORS AND OTHER SUBJECTS THAT WOULD BE OF INTEREST TO THE RESIDENTS. THE LETTER ALSO CONTAINS A CALENDAR WITH THE MENU SPECIALS AND THE BISTRO.