BELLEVUE, WA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST, founded in 1956, is a mid-sized nonprofit in the Human Services sector that reported $80.0M in total revenue in fiscal year 2023. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $112.7M exceeded revenue, resulting in a 41% operating deficit.
A FAITH-BASED NON-PROFIT ORGANIZATION THAT SUPPORT COMMUNITIES AND SERVICES COMMITTED TO IMPROVING THE LIVES OF OLDER ADULTS BY INTEGRATING HOUSING, COMMUNITY SERVICES, TECHNOLOGY, PHILANTHROPY, AND PARTNERSHIPS.
PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST IS A LEADING NONPROFIT ORGANIZATION COMMITTED TO IMPROVING THE LIVES OF OLDER ADULTS THROUGH COMMUNITY HOUSING AND SERVICES, TECHNOLOGY DEVELOPMENT...
PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST IS A LEADING NONPROFIT ORGANIZATION COMMITTED TO IMPROVING THE LIVES OF OLDER ADULTS THROUGH COMMUNITY HOUSING AND SERVICES, TECHNOLOGY DEVELOPMENT, RESEARCH AND ADVOCACY. FOUNDED IN 1956, THE ORGANIZATION CURRENTLY OPERATES 54 COMMUNITIES IN WASHINGTON, MINNESOTA, AND NEBRASKA. ITS AFFILIATED PARTNER, GSI RESEARCH & CONSULTING, PROVIDES MARKET RESEARCH, CONSULTING, DEVELOPMENT AND MANAGEMENT SERVICES FOR OTHER ORGANIZATIONS IN THE INDUSTRY. PARK SHORE - A TYPE B CONTINUING CARE RETIREMENT COMMUNITY OPERATED AS A DIVISION OF PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST CONSISTING OF 113 RESIDENTIAL LIVING APARTMENTS, 31 ASSISTED LIVING APARTMENTS, AND A SKILLED NURSING FACILITY WITH 28 LICENSED BEDS. MOST PARK SHORE RESIDENTS OCCUPY THEIR UNITS UNDER LONG-TERM ENTRANCE-FEE BASED CONTRACTS. PARK SHORE WAS ORIGINALLY CONSTRUCTED IN 1963 BUT HAS UNDERGONE SIGNIFICANT UPDATING SINCE THEN. SKYLINE - A TYPE A CONTINUING CARE COMMUNITY CONSISTING OF 199 INDEPENDENT LIVING UNITS, 48 ASSISTED LIVING UNITS, 28 MEMORY CARE UNITS AND A SKILLED NURSING FACILITY WITH 34 LICENSED BEDS. MOST SKYLINE RESIDENTS OCCUPY THEIR UNITS UNDER LONG-TERM ENTRANCE-FEE BASED CONTRACTS. SKYLINE OPENED IN OCTOBER 2009 AND IS OWNED AND OPERATED BY FH, LLC (FH), A WASHINGTON LIMITED LIABILITY COMPANY OF WHICH PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST IS THE SOLE MEMBER. FH OWNS AND OPERATES SKYLINE, WHILE CONTRACTING WITH PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST FOR MANAGEMENT SERVICES. MINNESOTA SENIOR LIVING - A CONTINUING CARE COMMUNITY CONSISTING OF 656 INDEPENDENT LIVING UNITS, 289 ASSISTED LIVING UNITS, AND 61 MEMORY CARE UNITS. PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST FORMED MSL IN SEPTEMBER 2016 TO ACQUIRE, OWN, AND OPERATE EIGHT STAND-ALONE PROPERTIES LOCATED IN THE CITIES OF APPLE VALLEY, BROOKLYN PARK, BURNSVILLE, CRYSTAL, AND WAYZATA IN THE MINNEAPOLIS - ST. PAUL METROPOLITAN AREA, WHILE CONTRACTING WITH PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST FOR MANAGEMENT SERVICES. MINNESOTA SENIOR LIVING, LLC (MSL), IS A MINNESOTA LIMITED LIABILITY COMPANY AND A WHOLLY OWNED SUBSIDIARY OF PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST.
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 | $80,038,151 | $143,061,728 | -0.4% |
| Expenses | $112,678,389 | $112,655,007 | +0.0% |
| Net Income | $-32,640,238 | $30,406,721 | -2.1% |
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 |
|---|---|---|---|---|---|---|
| TORSTEN HIRCHE | PRESIDENT & CEO | 1.00 |
Officer
Director
|
$808,519 | $29,551 | $1,184,579 |
| MICHAEL CONNELL | TREASURER & CFO | 1.00 |
Officer
|
$452,069 | $37,634 | $683,447 |
| KEN NOREEN | VP OF CCRC'S | 40.00 |
Highest
|
$320,118 | $29,927 | $487,238 |
| HAROLD KNIGHT | SVP OF STRATEGY AND PARTNERSHIPS | 20.00 |
Highest
|
$147,906 | $0 | $340,796 |
| TED MACBETH | VP REAL ESTATE DEVELOPMENT | 20.00 |
Highest
|
$95,064 | $33,241 | $328,469 |
| KIMBERLY HENDERSON | VP OF FINANCE & ACCOUNTING | 40.00 |
Highest
|
$192,917 | $24,258 | $299,854 |
| LAURIE SYKES | VP OF OPERATIONS | 40.00 |
Highest
|
$164,949 | $24,190 | $259,831 |
| MICHELE LUKE | SECRETARY | 1.00 |
Officer
|
$69,592 | $9,384 | $108,801 |
| MARY WAGNER | CHAIR & DIRECTOR | 0.10 |
Officer
Director
|
$0 | $0 | $0 |
| JESSE BOND | VICE CHAIR & CHAIR | 0.10 |
Officer
Director
|
$0 | $0 | $0 |
| GREG RUSSELL | DIRECTOR & VICE CHAIR | 0.10 |
Officer
Director
|
$0 | $0 | $0 |
| BARB BENNETT | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| CATHY DANIGELIS | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| KATHI LENTZSCH | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| SCOTT LUMSDEN | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| JIM MELHORN | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| JOY MOORE | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| LISA NELSON | DIRECTOR | 0.10 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $80,038,151 | $112,678,389 | $497,451,994 | $-32,640,238 |
| 2023 | $143,061,728 | $112,655,007 | $525,225,607 | $30,406,721 |
| 2023 | $143,439,616 | $111,132,487 | $528,986,667 | $32,307,129 |
| 2022 | $90,087,367 | $114,657,767 | $529,987,118 | $-24,570,400 |
| 2021 | $86,965,439 | $98,542,867 | $589,407,305 | $-11,577,428 |
| 2020 | $78,278,510 | $92,161,566 | $601,934,836 | $-13,883,056 |
| 2019 | $77,657,494 | $89,203,430 | $440,915,477 | $-11,545,936 |
| 2018 | $75,447,609 | $83,159,179 | $445,189,575 | $-7,711,570 |
Compare PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST with other nonprofits in Washington and across the country.