HOMESTEAD VILLAGE INC

Nursing services - homestead village provides a high level of nursing care to our residents and members of the surrounding community who require skilled nursing care. We have a 60 bed nursing facility licensed for both medicare and medicaid which served an average of 50.2 residents per month during the fiscal year.

Homestead provides services to residents who meet certain criteria at amounts less than its cost of providing care. Homestead maintains records to identify and monitor the level of benevolent care it provides. The costs associated with the benevolent care services provided to residents include both direct costs and estimated indirect costs, as reported by management on the homestead's internal financial statements. The level of benevolent care provided by homestead, which represents the difference between the estimated cost of providing care and the payments received for services rendered, including medical assistance program beneficiaries, was approximately $478,000 and $407,000 in the years ended june 30, 2024 and 2023, respectively.