Philosophy
MSL’s Senior Housing Practice Group was formed to
provide comprehensive service to senior housing clients. We focus on
developing the experience, expertise, personal attention, and quality
reputation to serve the senior housing and care community. We are a
team of professionals with the common belief that providing quality
client service is our fundamental obligation. Every member of the
senior housing practice group has both a personal and professional
responsibility to each client to deliver the highest possible level of
personalized and resourceful service. More than half of our
professionals are shareholders, principals, and senior managers which
assures our clients a high level of experience and a commitment.
It is our goal to earn and maintain the trust of
all of our clients and those who rely on our work and to be the best
resource available for the senior housing industry for financial and
consulting needs. We care about the senior housing community and want
to help our clients be successful at achieving their missions while
maintaining their margins.
What We Do
We are one of the leading CPA firms in the United
States serving the senior housing and care provider community. Our
dedicated Senior Housing and Care Practice Group has served continuing
care retirement communities, independent rental, congregate and active
adult communities, as well as assisted living providers. We bring you
more than 100 years of combined experience, and the talent to make a
difference in your organization's bottom line. In addition to audit
and tax services we provide the consulting services described below.
Financial and Market Feasibility Studies
Our professionals have provided financial and market feasibility and
other prospective financial services related the issuance or
restructuring of senior housing revenue bonds. The purpose of these
studies is to forecast or project future revenues and future market
potential to determine a provider’s or project’s ability to repay
debt and meet future operating requirements. We have assisted
numerous clients with evaluating and restructuring their business
plans. Because of our experience and long-term involvement with
senior housing and care providers, we often bring ideas and best
practices to light which improve the project’s revenue
opportunities, staffing approaches, or other ideas that result in
reduced or controlled cost.
Troubled Debt Workouts
As a result of or extensive involvement with senior housing revenue
bond financing engagements, we have also been engaged on numerous
occasions to provide workout consulting services for troubled bond
issues. We have provided services for debtors, issuers, trustees,
investment bankers, and credit enhancers. We provide recommendations
and assist in the implementation of practical solutions that result
in an effective and efficient minimization of the damage of a
troubled debt situation.
Benchmarking and Trend Analysis
MSL has over 30 years experience in serving senior housing and care
providers as well as skilled nursing facilities and other healthcare
organizational. As a result, MSL has developed numerous operational
databases that can assist an organization’s management and board in
assessing how they are doing in comparison with their own plans and
goals and their senior housing and care competitors. The
benchmarking information that we have collected through our years of
serving senior housing providers is a result of our depth of
knowledge and years of serving the community. It is unparalleled by
our competitors. All MSL audit engagements for senior housing and
care organization include an industry benchmark and trend analysis.
Fraud Protection and Forensic Accounting Services
Something just doesn’t seem quite right. The financial statements
are showing a profit but there isn’t enough cash to pay all of the
bills. You begin to wonder where your bookkeeper got the money to
buy the new house. Now may be the time to have a special review of
your accounting records. Fraud reviews and forensic accounting
services are tailored engagements to look for anomalies in
accounting records. It involves an analysis of what is recorded, as
well as what is not recorded.
Arbitrage Rebate Services
We have provided rebate services to issuers located throughout the
county. We have worked on financings involving fixed rate issues,
variable rate issues, construction issues, and refunding issues.
Because of our extensive involvement with bond financing transactions,
we stay current on all new issues that have an impact on arbitrage
rebate compliance .
Resident Medical Deduction Calculation
An important service that continuing care retirement communities can
provide for their residents is a determination of the amount of the
monthly and interim fees that they pay for services that can be
deducted on their individual federal and state tax returns as a
medical expense. As a result of our extensive history of serving
senior housing care providers, we have developed an extensive
database of the information necessary to make the calculations
associated with this determination. In addition, our continuing
commitment to serving senior housing and care providers includes
staying current on all internal revenue service activity and tax
court decisions related to this issue.
Not-for-Profit Corporate Compliance and Compliance Reporting
The Sarbanes-Oxley legislation and the recent reports issued by the
Senate Finance Committee (Panel on the Nonprofit Sector) will have a
significant impact on the organizational structure and operations of
not-for-profit organizations. Board/committee membership and
activities will have to become more transparent as the result of
recent legislation. As a result of MSL’s long association with the
senior housing and care provider group, we have had the opportunity
to work closely with a large number of not-for-profit boards of
directors. Based on our experience, we have been able to develop a
series of programs and services that can assist boards in meeting
the ever changing and increasing reporting and compliance
obligations facing today’s not-for profit-organizations.