Annual Report

It is our pleasure to present the 2023 Galloway Ridge Annual Report. Once again, we find ourselves deeply grateful for the outstanding residents of our community and our exceptional staff. The year 2023 brought a mix of challenges and opportunities, yet our dedication to excellence and unity enabled us to continue to grow. Our community buzzed with lively conversations, and our residents actively participated in a plethora of activities, demonstrating the resilience and strength of our community.
Galloway Ridge upheld its status as an industry leader in 2023. We were honored as a Great Place to Work for the third consecutive year and received the prestigious recognition as the eleventh Best Workplace in Aging Services. Our wellness program earned accolades once again with the ICAA NuStep Beacon Best in Wellness Award, naming us a Top 25 Senior Living Community. We are especially proud of our 2023 Leading Age NC Workplace Excellence Award which recognizes our investment in our staff and workplace environment to foster a healthy workplace culture.
In 2023, Galloway Ridge successfully continued its recovery from the pandemic. High occupancy levels and favorable investment market conditions resulted in a 16% increase in operating revenues compared to the previous year. Despite the tight labor and inflation pushing operating expenses up by 10% year over year, we achieved a net surplus of $2.1 million. To maintain the freshness and appeal of our community, nearly $7.5 million was invested in capital improvements, including the commencement of a major overhaul of our dining venues.
Throughout 2023, Galloway Ridge carried on with its revitalization projects to enhance our community. The stunning new patio which features a serene reflection pool and an inviting outdoor fireplace became a favorite gathering
spot for residents and staff. Several common spaces in The Arbor were refreshed with new furniture, art, and paint to bring a renewed sense of home and comfort. We continue to make significant improvements in our private healthcare rooms with updated furnishings, cabinetry, and kitchenettes. The upgrades to our dining areas were finally initiated, paving the way for continued growth and improvement as we proudly enter our 19th year as a community.
The Resident’s Council developed its Resident Values statement, acknowledging that we are a community built on trust, cooperation, open communication, and kindness. These values underpin the relationships among residents, between residents and employees, and between residents and neighbors in Chatham County.
The commitment and dedication of our residents to Galloway Ridge and the surrounding community are evident
in their generous donations to our funds. Together, we raised $1,022,014 in 2023 to support our staff’s educational aspirations, enhance special program planning, enrich our library, assist residents in need, and give back to our Chatham County community.
Lastly, we extend our heartfelt thanks to the many kind donors and diligent staff who strengthen and connect
our community. Without you, Galloway Ridge would not be the vibrant place it is, and we cannot envision a world without the Galloway Ridge residents serving as its heart and soul. Please enjoy reviewing our annual report and join us in facing the coming year with confidence and enthusiasm for what we can achieve together.