Strength and Stability:
Presbyterian Village North

Strength. Stability. Security. Three of the most important things to look for when choosing a retirement community. Not only the community itself, but also its roots. At Presbyterian Village North, those roots run deep. Owned by Forefront Living, an organization with a 60-year history of excellence in senior living, residents of Presbyterian Village North can enjoy strength, stability, and security only a financially stable organization can provide.

Strength of Sponsor

• Forefront Living is the parent organization/owner of Presbyterian Village North, Faith Presbyterian Hospice, The T. Boone Pickens Hospice and Palliative Care Center and The Outlook at Windhaven. Each entity is financially self-supporting within the system.
• Forefront Living is based in Dallas, just two miles from Presbyterian Village North (PVN), creating a culture of certainty with local management and ownership.
• With values of diversity, integrity, stewardship, and compassion, Forefront Living provides services to people of all faiths, races, genders, colors, religions, national origins, and disabilities.
• Forefront Living is a nonprofit organization with history dating back to the early 1960s with a mission “To make each moment matter for those we serve.”
• Responsible and prudent growth has made Forefront Living one of the strongest senior living systems in the region.

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Financial Stability

• The Hawthorne is PVN’s newest neighborhood of 112 independent living apartments which opened in 2022. Construction of The Hawthorne was financed through tax-exempt bonds, which requires meeting lenders’ strict occupancy and financial covenants.
• Forefront Living/PVN management monitor monthly key performance indicators against industry standards. Metrics include days cash on hand, debt coverage ratio, unrestricted cash, occupancy trends, and net operating income.
• PVN owns the land on which PVN is built.

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Regulation and Oversight

• Presbyterian Village North is regulated by the Texas Department of Insurance to ensure sound operations. We file our Disclosure Statements annually, which include audited financial statements with sources and uses of funds as well as an income statement of PVN. Copies of the current Disclosure Statement are available through the PVN Marketing Department.
• Currently PVN has two covenants from lenders: days cash on hand of 120 days and a debt service coverage ratio of 1.2 times. On December 31, 2023, PVN had 343 days cash on hand and a debt service coverage ratio of 1.6 times, thereby exceeding the covenant requirements.

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Peace of Mind

• Forefront Living/PVN has never asked a resident to leave who outlived their financial resources due to no fault of their own.
• In its 60-year history, Forefront Living has never failed to pay an entrance fee refund due to a resident.