CARF International is conducting a 2015 study to highlight the concept of “Financial Ratios as Performance Indicators” to the field of Adult Day Services. If your organization is an Adult Day Services provider, consider participaticipating in this unique, exciting annual study that began in 2010.
There is no charge for your participation in this study. The goal of this study is to develop financial benchmarks for adult day services and to provide participants in the study with a complimentary summary of financial benchmarking information.
Details related to the financial ratios of each participant in the study will not be disclosed to other organizations. CARF will share the aggregate data analysis with you as a result of your participation.
CARF has partnered with Mr. Jeff Boland, of Reinsel Kuntz Lesher, LLP to assist with the study, and he is required to maintain confidentiality of any information disclosed for the purpose of the study. Jeff is a representative of CARF’s Financial Advisory Panel (FAP) and has presented the results of the last five studies at the NADSA Annual Conferences in 2010-2014. For more information on the FAP’s role related to accreditation, see www.carf.org and type “FAP” in the search field located in the upper left corner of our website.
CARF-CCAC Financial Ratios have been used as operational benchmarks for our accredited Continuing Care Retirement Communities (CCRCs) since the early 1990s. For nineteen years, CARF-CCAC has been collecting data from accredited CCRCs for inclusion in an annual publication titled Financial Ratios & Trend Analysis of CARF-CCAC Accredited Organizations. Historically, benchmarking against financial ratios has been a promising practice for the CCRC field and CARF sees that the Adult Day Services field can likewise benefit from benchmarking. CCRCs rely on this information to enable them to assess trends and make sound financial decisions in varying economic times. Rating agencies, investment bankers and accountants rely on these financial ratios to assess organizational viability when assigning ratings and structuring debt.
CARF sees this initiative as a way to add significant value to accreditation and as a way to share our benchmarking expertise with the adult day services field. For questions, Sue Matthiesen can be reached at either firstname.lastname@example.org or toll-free 866-888-1122, ext. 5006.
How do you participate? If you will participate in this study, please send the following documents by email (email@example.com ), fax (202-587-5009), or mail (1730 Rhode Island Avenue NW, Suite 209, Washington, DC 20036) to Amanda Birch at CARF International by Friday, June 26, 2015:
For your adult day service program’s fiscal year ending in 2014:
- 2015 ADS Indicators Supplemental Handout
- Internal unaudited 2014 fiscal year Financial Statements including Revenue and Expense, Balance Sheet, and Cash Flows or;
- Corporate audit Financial Statements for 2014 fiscal year (if available).
Note: If your financial information is consolidated for a larger organization, please clearly identify the adult day services financials or send a separate report with only the adult day services financial information included.
Please contact Amanda firstname.lastname@example.org with questions about what information is applicable to the study. You are welcome to connect Amanda to the financial staff member at your organization.