b'Tfinds Presbyterian Homes at a fascinating time of transition, andwe are reminded of the metamorphosis from caterpillar to butterfly.This familiar metaphor applies to us for several reasons.The caterpillar doesnt consciously choose when to develop into its next stage. Similarly, while some of Presbyterian Homes current transitionefforts are strategic and planned far in advance, others, such as thoserelated to lingering effects of the COVID pandemic, were thrust upon us.The transformation from caterpillar to butterfly is not cleanand simple. The change is the result of a surprisingly complex series of steps and struggles. The same is true of our transitions. Presbyterian Homes leadership, staff and residents have devoted countless hours and immeasurable dedication to position us for the future.Finally, the butterfly owes its exuberant beauty to the previous versionsof itself. Again, we see a parallel for Presbyterian Homes. Our richhistory and solid foundation, built over more than 100 years, carry us forward to what we believe will be the best version of ourself so far.In this annual report, well explain Presbyterian Homes currentstate of transition, including whats driving change, what has happenedin the last year and what were looking forward to in the future.PRESBYTERIAN HOMES & GENEVA FOUNDATION 2022 ANNUAL REPORT1'