Peconic Landing at Southold Inc

Peconic Landing at Southold Inc is a US nonprofit organization designated under Section 501(c)(3) of the IRS code. It operates as a Life Plan Community, also known as a Continuing Care Retirement Community (CCRC), located on the North Fork of Long Island.

Description

Peconic Landing is unique in being the only equity-based CCRC in New York State. This model allows residents to enjoy the benefits of homeownership within a cooperative structure, providing financial stability and security. Residents can retain tax benefits associated with homeownership and potentially earn appreciation on their investment. The community offers independent living options with access to higher levels of care as needed, ensuring peace of mind for its members.

Achievements

Peconic Landing has achieved several notable milestones:

• Fitch Investment Grade Rating: It is one of the select few CCRCs with an investment-grade rating, which underscores its strong financial standing and ability to meet financial commitments.
• Awards and Recognition: The community is home to the Bluffs for Short-Term Rehabilitation, recognized as one of the "Best Nursing Homes" by U.S. News & World Report. Additionally, Harbor South for Memory Support has been recognized by the Crisis Prevention Institute.
• Community Engagement: Peconic Landing serves as a vibrant community center and cultural arts hub for the East End, hosting various public events and activities.

Leadership and Governance

The organization involves its members in governance through a cooperative structure. Members participate in committees and vote for representatives on the Housing Association Cooperative Board, ensuring they have a voice in community decisions.

Financial Overview

As of recent financial reports, Peconic Landing generates revenue primarily from program services. The organization also receives contributions and generates income from investments and sales of assets. It maintains significant assets while managing liabilities, indicating a robust financial foundation.

Social Impact

As a major taxpayer and employer in the Town of Southold, Peconic Landing contributes significantly to the local economy. The organization is committed to conservation and sustainability, having implemented environmentally friendly expansions.

Overall, Peconic Landing at Southold Inc stands out for its innovative financial model, commitment to community engagement, and dedication to providing high-quality care and services to its members.