Bethany Children's Home

Bethany children'Childrens's Home, inc. is a beneficiary under many trusts. Annual distributions from the trusts have been recorded as revenue in unrestricted net assets. Bethany is a beneficiary in one temporary trust in which the income distribution is used to help graduating residents of Bethany Home, inc. Pursue interests in higher education. Net assets were released from donor restrictions by incurring the expenses satisfying the restricted purposes of higher education, building and grounds maintenance, health-related expenses and holiday expenses. Permanently restricted net assets are restricted in perpetuity, the income from which is expendable to support higher education, building and grounds maintenance and activities of the organization. See schedule o for continuation.this financial interrelationship fosters continual growth and support in the development of Bethany Home's programs. Bethany Home operates a 24-hour residential care facility for dependent and neglected youth on the 100+ acre campus in rural womelsdorf, pa. The land and buildings are owned and operated by Bethany children'Childrens's Home inc., a related entity, and rented to Bethany Home. This campus served approximately 11 youth daily in a long-term residential program, 15 youth daily in an on campus intensive residential program, 1 youth daily in a short-term residential program, 11 youth daily in an on-campus residential independent living program, 4 youth daily in transitional living program, 1 youth daily in residential supervised independent living program, and 5 youth daily in a 24-hour emergency care shelter. Revenues are received by placing county agencies; however, reimbursement is only a percentage of the actual cost of providing these services. In order to cover the funding shortfall, Bethany children'Childrens's Home provided a grant to Bethany Home in the amount of $2,356,461 at fiscal year-end 6/30/2023.