Vincentian Regency

VINCENTIAN REGENCY IS A MEMBER OF VINCENTIAN COLLABORATIVE SYSTEM, A CATHOLIC HEALTH AND HUMAN SERVICES ORGANIZATION HEADQUARTERED IN THE NORTH HILLS OF PITTSBURGH THAT OFFERS A CONTINUUM OF HIGHLY-RATED SENIOR CARE SERVICES AT MULTIPLE LOCATIONS ACROSS ALLEGHENY COUNTY, INCLUDING INDEPENDENT LIVING, SKILLED NURSING, SHORT TERM REHABILITATION, LONG TERM CARE, PERSONAL CARE AND MEMORY CARE. THE VINCENTIAN SYSTEM IS COMPRISED OF VINCENTIAN HOME AND VINCENTIAN REGENCY IN THE NORTH HILLS, MARIAN MANOR IN THE SOUTH HILLS AND VINCENTIAN DE MARILLAC IN THE CITY OF PITTSBURGH. ADDITIONALLY THE SYSTEM INCLUDES TWO OUTPATIENT REHABILITATION LOCATIONS, TWO CHILD DEVELOPMENT CENTERS AND A CHARITABLE FOUNDATION. EACH YEAR, THE VINCENTIAN SYSTEM COLLECTIVELY CONTRIBUTES TO THE LOCAL COMMUNITY BY PROVIDING MORE THAN $11.3 MILLION IN BENEVOLENT CARE, SERVING SOME 1,600 SENIORS, 142 CHILDREN AND PROVIDING HIGH-QUALITY JOBS TO MORE THAN 1,000 PEOPLE.

EFFECTIVE JUNE 30, 2013 THE NURSING FACILITY OPERATIONS CEASED AT VINCENTIAN REGENCY. THE FACILITY CONTINUED TO BE USED FOR STORAGE PURPOSES FOR THE REST OF THE MINISTRIES THROUGH 2017 UNTIL DEMOLITION. IN 2017, THE ORGANIZATION'S BOARD OF DIRECTORS APPROVED A PLAN TO REPURPOSE THE PROPERTY AS A NEW SENIOR-LIVING COMMUNITY TO BE NAMED TERRACE PLACE AT VINCENTIAN. AS A RESULT, THE ORGANIZATION DEMOLISHED THE EXISTING FACILITY IN PREPARATION FOR THE NEW DEVELOPMENT. IN 2018, CONSTRUCTION BEGAN ON THE NEW FACILITY AND WAS COMPLETED IN THE SPRING OF 2019. TERRACE PLACE AT VINCENTIAN FURTHERS THE ORGANIZATION'S TAX EXEMPT PURPOSE AND ITS MISSION OF PROVIDING SERVICES TO MEET THE NEEDS OF THE PITTSBURGH AREA'S SENIOR POPULATION.AS OF JUNE 30, 2021 THE ORGANIZATION HAS NOT AMENDED OR SUPERSEDED ANY OF ITS GOVERNING DOCUMENTS. THEREFORE, THE CARRYING VALUE OF THESE ASSETS HAS NOT BEEN ADJUSTED TO DATE.