Acts Retirement-Life Communities Inc. is growing again, on Monday adding Moorestown’s The Evergreens to its network of continuing-care retirement communities, the Montgomery County nonprofit said.
Acts, based in West Point, now has 23 CCRCs in nine eastern states. It is among the largest operators of such facilities in the nation.
The Evergreens, home to 225 residents, was founded in 1919 by the Episcopal Diocese of New Jersey. Its 32-acre campus has 200 independent-living units, space for 66 assisted-living residents, and a 34-bed nursing home. The Evergreens employs 215.
The nonprofit was projected to have an operating loss of $3.9 million on revenue of $20.3 million in 2017, according to disclosures to bondholders. Its 2017 audited financial statements are not yet available.
The Evergreens last had an operating profit in 2011, according to its audited statements.