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  • Monday - Friday: 8:00 - 4:30
  • 120 Prospect Street, Reading, PA 19606
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Children’s Home of Reading

Corporate Analysis

  • Company: CHOR
  • Founded: 1888
  • Category: Non-Profit
  • Location: Reading, PA
  • Year of Affiliation: 2017
  • Annual Revenue 15 Million

Let's Find out More about CHOR

The Children’s Home of Reading is a leading non-profit offering mental and behavioral health, and education services to care for at-risk children, youth and their families from Philadelphia to Pittsburgh with offices in Berks County, Schuylkill County, and the greater Lehigh Valley.

Our goal is to provide treatment-oriented residential environment for children and youth, educational programs for kids with emotional and behavioral issues, and community-based services for children and their families in crisis.

Education Services

Two private academies offering educational services for children who have behavioral issues, varied educational needs, an Individualized Education Plan, and are referred by their home school district. The academic school programs serve our residential clients as well as children who live in the surrounding communities where their needs cannot be met in a traditional school setting.

Some Pre Affiliation Issues

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Financial Struggles

We were dependent upon fundraising and donations to cover cash shortfalls

Lack of Donations

Faced the prospect of a dwindling endowment

Poor Forecasting

Had not sought adequate rate increases from payers to cover the cost of care

How We Helped and What were the Post Affiliation
Financial Actions & Results:

  1. Increase in revenue year over year.(affiliated 11/2/17) FY18 – $13.8M; FY19 – $14.3M; FY20 – $14.5M
  2. Year over year increase in net assets since affiliation.(affiliated 11/2/17) FY18 – ($477K); FY19 – $118K; FY20 – $573K
  3. Decreased management and general services as a percentage of total expenses since affiliation.(affiliated 11/2/17) FY18 – 13%; FY19 – 10.2%; FY20 – 10.6%
  4. Provided a dedicated team to assess viability of programs and rate assessments.
  5. Negotiated rate increases for programs that had not received increases in years.
  6. Affiliation provided a restatement of Assets to fair market value which aided in strengthening theorganizations balance sheet.
  7. Provided line of credit usage to address deferred maintenance projects.
  8. Refinanced $2M of their debt under a master trust indenture lowering the interest rate from 6% to 2.14%.
Funding
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