ANNUAL ON PURPOSE REPORT - Lifespace Communities

2016 ANNUAL REPORT

ON PURPOSE

Mission Statement

Create communities celebrating the lives of seniors.

Table of Contents

Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A Message from the Board Chair . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 A Message from the CEO. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Driven to Serve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6-7 Aiming for Successful Aging. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Planning for Excellence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Designing for the Future. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10-11 Social Accountability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12-15 Financial Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16-17 Renovations and Expansions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Community Profiles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 The Lifespace Foundation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-21 Board of Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Home Office . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Cover: Resident Carolyn Towles explores the library at Village on the Green. Right: Resident Richard Haffner pursues his passions at Oak Trace.

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ON PURPOSE

Each big decision. Every tiny detail. At Lifespace, there is meaning in it all. We choose to innovate. To create memorable experiences. To give and grow with intention. Everything we do is driven by passion. Everything is on purpose.

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A Message from the Board Chair

Take a look around any Lifespace community and you'll notice something right away. Everyone is engaged, working hard and making a difference.

Residents swim their daily laps in the pool, take notes in a technology class and volunteer at a local shelter. Team members serve with passion and genuine smiles. You can feel the energy!

Across our campuses, residents and team members are filled with purpose. This is by design. Lifespace's mission is to create vibrant communities where everyone flourishes. The Lifespace Board of Directors partners with the CEO and senior leadership to set policy and provide guidance that executes this mission.

In 2016, our goal was clear: to lay the groundwork for purposeful growth. Our plan details a bold vision to redevelop six of our 12 communities. We made significant progress as we seek opportunities to serve a growing number of older adults. We are thankful for our residents' patience and support as we take time to invest in our communities.

Purposeful growth means taking steps to improve quality of life for current residents. That's why we continue to add services such as assisted living and upgrade amenities like dining and technology. We are dedicated to providing residents with the best of the best ? for life. Our convenient, comprehensive health care services and benevolent care bring peace of mind to residents who know that no matter what life brings, Lifespace will be there.

It is gratifying to see our progress as an organization. Together, as a united enterprise, we are working on purpose: to be a great place to live and work, a financially stable company and a good neighbor. These shared objectives keep us focused as we build on our success and prepare for the future.

I am honored to serve on the Lifespace board and grateful that we pursue such an important mission together.

E. LaVerne Epp Chairman of the Lifespace Board of Directors

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ON PURPOSE

A Message from the CEO

British statesman Benjamin Disraeli famously said "The secret of success is constancy of purpose."

At Lifespace, we are inspired by purpose ? day in and day out ? to help our residents, team members and communities live richer, more fulfilling lives. To celebrate lives of meaning with intention. To make a difference.

Pat Wood, a resident of Friendship Village in Bloomington, Minnesota, swims, gardens and walks each day, but that is only a fraction of her daily activities. She participates in a variety of courses offered by Lifespace that keep her active and engaged ? sometimes up to 13 in one week!

Dedication like Pat's to aging well takes hard work ? and it doesn't happen by chance. That's why in 2016 we embraced a successful aging strategy called Masterpiece Living. By partnering with the Masterpiece Living initiative, we're better able to help residents age successfully, with strong social connection, physical activity, intellectual stimulation and spiritual engagement.

Sloan Bentley President and CEO

This year we also celebrated the launch of the Living Lifespace program, which provides our team members with ongoing training in exceptional hospitality. Our team members go above and beyond to give residents the same service they would expect in a quality hotel. No detail is too small. When I hear stories of team members living the culture, my heart smiles.

Across our campuses, we're serving, improving and growing with purpose - upgrading our technology infrastructure and investing in innovative dining services with our new partner, Thomas Cuisine Management. In 2016 we celebrated 40 years of service and have no plans to slow down. We're driven to do more. We believe that life is better when it's lived with purpose. And the signs of our success fill our communities and the pages of this report.

2016 ANNUAL REPORT

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