Ingleside is the umbrella organization of three premier, not-for-profit Life Plan Communities located within the Washington, DC, metropolitan area: Ingleside at Rock Creek, Westminster at Lake Ridge, and Ingleside at King Farm. Ingleside also manages and supports the Westminster Ingleside Foundation, a charitable organization.
Other entities include Ingleside at Home, a home care services company providing support services for those aging in place.
The Ingleside team provides management, strategy and mission development advancement, helping to fulfill vision and values and maintain peak financial performance. We strive to provide the best support, services and practices to our family of organizations and to the members they serve.
Our Ingleside communities of Ingleside at Rock Creek, Westminster at Lake Ridge, and Ingleside at King Farm share a tradition of common values, centered on the well-being of each resident, whose dignity, self-determination and quality of life are of paramount importance.
Ingleside is a premier not-for-profit provider of services for older persons. Through our vibrant communities and our network of partners, Ingleside offers diverse, enriching opportunities for purposeful living, wellness, and growth, in a fiscally responsible manner—to those within, and beyond, our campuses.
We provide strategic and operational leadership that enables our affiliates to excel in their missions.
In addition to providing engaged living and a continuum of care, Ingleside’s management is highly focused on the financial sustainability of the Ingleside family of companies. Life Plan Community finances are complex due to the required accounting treatment of entrance fees which yields balance sheets and income statements different from those of more mainstream/traditional companies. The financial success of a Life Plan Community is based on cash flow including net cash flows from entrance fees. Due to the capital structure of a Life Plan Community, it is common for net assets to be negative because refundable entrance fees are included as a liability rather than a component of net assets. Furthermore, Life Plan Communities require immense investment in physical infrastructure which results in significant amounts of depreciation expense. That depreciation expense often results in a negative change in net assets which reduces net assets into negative territory.
Ingleside is required to meet certain bond covenants in order to remain in compliance with its lenders. As of the most recent reporting date, Ingleside was in compliance with all covenants and was generating a positive cash flow margin signaling financial strength and sustainability.