2024-10-28T14:47:08-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2023-01-01 830344521 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY WHIT 2154028500 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 WILLIAM MCCORMICK CHIEF FINANCIAL OFFICER 2154028500 2024-10-25 1 0 DANIELLE NIHILL P01350943 7819821001 2024-10-16 2023 2024-10-15 13:58:12Z THE HILL AT WHITEMARSH COREY EVANS 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 57124239 0 X WWW.THEHILLATWHITEMARSH.ORG X 2001 PA TO ENRICH, HONOR AND SUPPORT THOSE WE SERVE. 19 18 412 100 0 0 844951 5057652 39319635 43940482 233239 617276 448884 460140 40846709 50075550 0 0 0 0 18073088 19581354 0 0 0 32110730 34120813 50183818 53702167 -9337109 -3626617 234929225 241696788 310230844 321272355 -75301619 -79575567 TO PROVIDE QUALITY RESIDENTIAL AND HEALTH CARE SERVICES TO SENIOR CITIZENS IN OUR SURROUNDING COMMUNITIES TO ALLOW OUR RESIDENTS TO LIVE AS INDEPENDENT A LIFESTYLE AS POSSIBLE WITH DIGNITY AND COMPASSION. 0 0 47189291 0 44061362 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTH CARE, DINING, WELLNESS AND RELATED SERVICES AND AMENITIES TO SERVE ITS 65 AND OLDER SENIOR RESIDENTS. THE COMMUNITY IS COMPRISED OF 213 APARTMENT RESIDENCES, 86 ATTACHED AND DETACHED SINGLE FAMILY HOMES, 60 SKILLED NURSING ROOMS AND 28 ASSISTED LIVING SUITES IN THE HEALTH CENTER AND DINING AND WELLNESS FACILITIES LOCATED ON 96 ACRES IN WHITEMARSH TOWNSHIP, PENNSYLVANIA. AS OF DECEMBER 31, 2023, 264 OF THE APARTMENTS AND SINGLE FAMILY HOMES WERE OCCUPIED. IN ADDITION, HILL HOME SERVICES, LLC PROVIDES NON-SKILLED, PRIVATE DUTY AIDE SERVICES TO INDIVIDUALS IN THEIR HOMES. 47189291 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 61 0 412 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X WILLIAM MCCORMICK CFO 2154028720 4000 FOX HOUND DRIVE LAFAYETE HILL PA 19444 NEIL LUBARSKY CHAIRMAN 2.00 X X 0 0 0 WILLIAM MARAZZO VICE CHAIRMAN 1.00 X X 0 0 0 LYNN LEWIS TREASURER 1.00 X X 0 0 0 RICHARD L JONES JR SECRETARY 1.00 X X 0 0 0 HUGH MOULTON SECRETARY (LEFT JUNE 23) 1.00 X X 0 0 0 EDITH DIXON DIRECTOR 0.50 X 0 0 0 SUSAN PARKS DIRECTOR 0.50 X 0 0 0 DEBRA ROBERTS DIRECTOR 0.50 X 0 0 0 BRUCE FICKEN DIRECTOR 0.50 X 0 0 0 DEBBIE RODGERS DIRECTOR 0.50 X 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 40.00 X X 526076 0 18610 KEN LEVITAN DIRECTOR 0.50 X 0 0 0 ANDREW CANTOR DIRECTOR 0.50 X 0 0 0 LYNNE DAVIS DIRECTOR 0.50 X 0 0 0 SHARON PATTON-THAXTON DIRECTOR 0.50 X 0 0 0 RICHARD BRANTON DIRECTOR 0.50 X 0 0 0 PETER RYAN DIRECTOR 0.50 X 0 0 0 PATRICE HAVERSTICK DIRECTOR 0.50 X 0 0 0 JANE LAGRECA DIRECTOR 0.50 X 0 0 0 EFRAM SILBERSTEIN DIRECTOR 0.50 X 0 0 0 PETER FLEMING CHIEF OPERATING OFFICER 40.00 X 324030 0 28188 WILLIAM MCCORMICK CHIEF FINANCIAL OFFICER 40.00 X 274674 0 29470 SUSAN MCMENAMIN CHIEF HUMAN RESOURCE OFFIC 40.00 X 223669 0 16778 CHRISTINE DWYER SALES/MARKETING DIRECTOR 40.00 X 260123 0 15560 COREY EVANS DIRECTOR OF HEALTHCARE 40.00 X 207123 0 6394 JOSEPH ILLUMINATI DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 139459 0 26458 NICOLE BENNETT DIRECTOR OF RESIDENT SERVICES & DEVELOPMENT 40.00 X 135281 0 27063 KELLY HOOVEN DIRECTOR OF FINANCE 40.00 X 144551 0 13455 2234986 0 181976 27 0 1 0 DELRAN BUILDERS COMPANY INC 7909 FLOURTOWN AVENUE WYNDMOOR PA 19038 GENERAL CONTRACTOR 4879404 FUNCTIONAL PATHWAYS 10133 SHERRILL BOULEVARD SUITE 200 KNOXVILLE TN 37932 THERAPY PROVIDER 996580 BERNARDON 123 JUSTISON STREET SUITE 101 WILMINGTON DE 19801 ARCHITECT 894112 CTN SOLUTIONS 610 SENTRY PARKWAY SUITE 110 BLUE BELL PA 19422 TECHNOLOGY CONSULTANTS 531522 DANIEL ANTHONY'S PAINTING 4017 BETHLEHEM PIKE TELFORD PA 18969 PAINTING 479150 45 13761 5043891 188937 5057652 RESIDENT CARE FEES 623000 36590455 36590455 AMORT OF DEFERRED ENTRANCE FEES 623000 5309884 5309884 MEAL REVENUE 722513 558851 558851 ANCILLARY HEALTH CENTER REVENUE 623000 541696 541696 UTILITIES 221000 188666 188666 750930 750930 43940482 654629 654629 100040 0 100040 100040 100040 7007303 4033 7048413 276 -41110 3757 -37353 -37353 HHS OPERATIONS 621610 120880 120880 PARKING FEES 812930 103456 103456 GUEST LODGING 623990 49625 49625 86139 86139 360100 50075550 44061362 0 956536 1441495 1441495 15317059 13789088 1527971 318501 318501 1218292 1148743 69549 1286007 991789 294218 147589 147589 86379 86379 32385 32385 1051216 1007881 43335 1013687 754388 259299 6049900 5036770 1013130 871205 157817 713388 3332056 3131483 200573 33232 15096 18136 7660388 7660388 12560572 12497024 63548 933376 791736 141640 REPAIRS AND MAINTENANCE 177602 177602 171226 29486 141740 53702167 47189291 6512876 0 17908671 24388467 289326 61 2190634 1706586 188410 79537 1401234 1400231 312206535 117804085 194857437 194402450 13735329 14512583 4358184 5206873 234929225 241696788 3907424 4835799 162801993 171456373 138131175 137256767 1141624 1829897 4248628 5893519 310230844 321272355 X -75349748 -79742995 48129 167428 -75301619 -79575567 234929225 241696788 X -3626617 473043 -1120374 X 0 1 X 1 0 X 1482188 4792808 3465102 844951 5057652 15642701 34998318 34271457 35221970 39319635 43940482 187751862 322461 267782 239479 382819 360100 1572641 36802967 39332047 38926551 40547405 49358234 204967204 1108987 783240 722088 991450 2621850 6227615 0 1108987 783240 722088 991450 2621850 6227615 198739589 602575 459253 355256 344903 754669 2516656 602575 459253 355256 344903 754669 2516656 37405542 39791300 39281807 40892308 50112903 207483860 0.95790 0.96640 0.01210 0.01110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3652 4 3656 3650 2 3652 3625 25 3650 3598 27 3625 3537 61 3598 0.04270 0.95730 0 0 14343480 14343480 223480990 89323059 134157931 44542044 19339072 25202972 13521491 9141954 4379537 16318530 16318530 194402450 BOND INTEREST PAYABLE 3581412 RESIDENT DEPOSITS 1191733 INTEREST RATE SWAP 1120374 5893519 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE TO SUPPORT PROGRAMS AND GENERAL OPERATIONS. PART X, LINE 2: THE CORPORATION AND ITS SUBSIDIARY HAVE BEEN GRANTED EXEMPT STATUS RELATIVE TO FEDERAL AND STATE CORPORATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE CORPORATION FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S CONSOLIDATED FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THERE ARE NO UNCERTAIN TAX POSITIONS REFLECTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. X X X X X 0 1 0 0 0 0 0 0 0 JUDITH MCGRUTHER CHIEF EXECUTIVE OFFICER 446091 0 57485 0 22500 0 9090 0 9520 0 544686 0 0 0 PETER FLEMING CHIEF OPERATING OFFICER 305685 0 18345 0 0 0 6075 0 22113 0 352218 0 0 0 WILLIAM MCCORMICK CHIEF FINANCIAL OFFICER 224677 0 17320 0 32677 0 5357 0 24113 0 304144 0 0 0 CHRISTINE DWYER SALES/MARKETING DIRECTOR 117623 0 142500 0 0 0 5780 0 9780 0 275683 0 0 0 SUSAN MCMENAMIN CHIEF HUMAN RESOURCE OFFIC 204674 0 18995 0 0 0 7258 0 9520 0 240447 0 0 0 COREY EVANS DIRECTOR OF HEALTHCARE 186923 0 20200 0 0 0 6394 0 0 0 213517 0 0 0 JOSEPH ILLUMINATI DIRECTOR OF INFORMATION TECHNOLOGY 122659 0 16800 0 0 0 2593 0 23865 0 165917 0 0 0 NICOLE BENNETT DIRECTOR OF RESIDENT SERVICES & DEVE 116581 0 18700 0 0 0 4200 0 22863 0 162344 0 0 0 KELLY HOOVEN DIRECTOR OF FINANCE 129751 0 14800 0 0 0 3935 0 9520 0 158006 0 0 0 PART I, LINE 4B JUDITH MCGRUTHER PARTICIPATED IN THE 457F PLAN AND MADE CONTRIBUTIONS OF $22,500 DURING 2023. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609B96 2015-03-12 125313677 REFINANCE DEBT (2005 AND 2008 BONDS) AND CAPITAL IMPROVEMENTS TO CCRC 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609G75 2018-12-20 42220475 REFINANCE DEBT AND FINANCE EXPANSION PROJECT 0 0 0 C NATIONAL FINANCE AUTHORITY 521304598 2023-11-08 37620893 REFINANCE DEBT (2016) AND FINANCE RENOVATION AND EXPANSION OF HEALTH CENTER 0 0 0 A 11660000 125640949 8160910 2178380 3607534 111694125 2015 1 1 1 1 B 17500000 44948507 2447987 1381629 844410 36592835 3679598 1 1 0 1 C 37620893 28630 3695259 33891003 1 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 1 0 0 0 0 1 C 0 1 0 0 1 1 WSFS FSB 5.000000000000 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/12/2020 ISSUER NAME: MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 10/15/2024 SCHEDULE K, PART II, LINE 3: THE TOTAL PROCEEDS OF EACH ISSUE EXCEEDED THE ISSUE PRICE OF EACH ISSUE. FOR EACH BOND THE EXCESS IS AS FOLLOWS: COLUMN A - 327,272 INVESTMENT EARNINGS IN ADDITION TO ISSUE PRICE COLUMN B - 2,726,748 INVESTMENT EARNINGS IN ADDITION TO ISSUE PRICE X 889 188937 FMV 0 0 0 PART I, COLUMN (B): THE FIGURE IN COLUMN (B) REPRESENTS THE NUMBER OF SHARES IN THE GIVEN CATEGORY. FORM 990, PART VI, SECTION A, LINE 1A AN EXECUTIVE COMMITTEE AND/OR ANY OTHER STANDING OR TEMPORARY COMMITTEE, CONSISTING OF TWO (2) OR MORE DIRECTORS, MAY BE APPOINTED BY THE BOARD OF DIRECTORS FROM TIME TO TIME. EACH SUCH COMMITTEE SHALL HAVE AND EXERCISE SUCH AUTHORITY OF THE BOARD OF DIRECTORS ON BEHALF OF THE CORPORATION IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION AS THE BOARD MAY SPECIFY IN THE RESOLUTION ESTABLISHING SUCH COMMITTEE OR AS THE BOARD BY RESOLUTION MAY SUBSEQUENTLY DETERMINE, WHICH MAY INCLUDE ANY ACTION WHICH THE PENNSYLVANIA NONPROFIT CORPORATION LAW OF 1988 PROVIDES SHALL OR MAY BE TAKEN BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, THEN REVIEWED BY THE BOARD AUDIT COMMITTEE, AND THEN DISTRIBUTED TO THE WHOLE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY BY EACH BOARD MEMBER AND SUBMITTED TO THE GOVERNANCE COMMITTEE OF THE BOARD FOR THEIR REVIEW. BASED ON THEIR REVIEW, THE GOVERNANCE COMMITTEE DETERMINES WHETHER A POTENTIAL OR ACTUAL CONFLICT OF INTEREST EXISTS AND SUBMITS THE MATTER TO THE FULL BOARD FOR THEIR CONSIDERATION. THE FULL BOARD THEN DECIDES WHAT ACTION SHOULD BE TAKEN IN RESPONSE TO THE CONFLICT WHICH MAY INCLUDE THE RESIGNATION FROM THE BOARD OF THE MEMBER WITH A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD BASED ON A REVIEW OF THE CEO'S PERFORMANCE RELATIVE TO THE ORGANIZATION'S GOALS, A REVIEW OF THE COMPENSATION OF CEO'S FROM COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990 AND A REVIEW OF RELEVANT COMPENSATION SURVEY INFORMATION PROVIDED BY AN OUTSIDE INDEPENDENT COMPENSATION CONSULTANT TO THE EXECUTIVE COMMITTEE AND WITH THE ADVICE OF COUNSEL, AS NEEDED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE CEO BASED ON A REVIEW OF THE EMPLOYEE'S PERFORMANCE RELATIVE TO THE ORGANIZATION'S GOALS, A REVIEW OF COMPENSATION AT COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990, A REVIEW OF RELEVANT SALARY SURVEYS, WITH THE ADVICE OF THE EXECUTIVE COMMITTEE AND AN OUTSIDE INDEPENDENT COMPENSATION CONSULTANT. THE DELIBERATION AND FINAL DECISIONS ARE TIMELY DOCUMENTED AS PART OF THE COMMITTEE RECORDS AND EMPLOYEE FILE. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE CEO BASED ON A REVIEW OF THE KEY EMPLOYEES PERFORMANCE RELATIVE TO THE ORGANIZATION'S GOALS, A REVIEW OF COMPENSATION AT COMPARABLE NONPROFIT ORGANIZATIONS FROM THEIR FORM 990, A REVIEW OF RELEVANT SALARY SURVEYS, WITH THE ADVICE OF THE EXECUTIVE COMMITTEE AND AN OUTSIDE INDEPENDENT CONSULTANT. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023 FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED TO A FINANCIAL DISCLOSURE WEB SITE, INCLUDED WITH THE PUBLICLY AVAILABLE DISCLOSURE STATEMENT OF THE COMMUNITY AND DISTRIBUTED UPON REQUEST TO ALL RESIDENTS OF THE COMMUNITY. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -1,120,374. HILL HOME SERVICES LLC 4000 FOX HOUND DRIVE LAFAYETTE HILL PA 19444 842156156 PROVIDES NONSKILLED PRIVATE DUTY AIDE SERVICES TO INDIVIDUALS IN THEIR HOMES PA 737264 23107 WHITEMARSH CONTINUING CARE RETIREMENT COMMUNITY