2024-11-01T10:32:49+00:00 2023-12-31 390859910 Baker Tilly Advisory Group LP 1570 Fruitville Pike Suite 400 Lancaster PA 17601 990 2023-01-01 222229486 MEADOWOOD CORPORATION MEAD 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 PAUL NORDEMAN PRESIDENT/CEO 6105841000 2024-11-01 true true Kerri N Bogda CPA P00760402 7177404863 2024-11-01 2023 2024-10-15 13:58:12Z PAUL NORDEMAN 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 51268582 false X WWW.MEADOWOOD.NET X 1983 PA TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. 17 16 548 50 0 0 860908 861166 40425845 43418362 145805 840315 1056697 378311 42489255 45498154 155397 177782 0 17594941 19904886 0 0 27147376 29183503 44897714 49266171 -2408459 -3768017 160859066 161503411 176037355 177554316 -15178289 -16050905 MEADOWOOD IS COMMITTED TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. false false 43152656 177782 43418362 MEADOWOOD CORPORATION OPERATES A CONTINUING CARE RETIREMENT COMMUNITY WHICH PROVIDES HOUSING, HEALTHCARE, AND OTHER RELATED SERVICES TO SENIORS THROUGH THE OPERATION OF A 59-BED NURSING FACILITY, A 56-BED PERSONAL CARE FACILITY, 298 RESIDENTIAL APARTMENTS, 42 CARRIAGE HOMES AND A HOME HEALTH AGENCY. THE CORPORATION'S COMMUNITY IS LOCATED IN WORCESTER TOWNSHIP, PA. TOTAL RESIDENT DAYS AT THE FACILITY WERE AS FOLLOWS: SKILLED DAYS OF 19,456, PERSONAL CARE DAYS OF 13,542, MEMORY CARE DAYS OF 7,09S AND INDEPENDENT LIVING DAYS OF 156,414. ALSO, THE HOME HEALTH AGENCY PERFORMED 166 VISITS DURING 2023. THE HEALTHCARE SERVICES PROVIDE RESIDENTS WITH PHYSICIAN CARE, PHYSICAL THERAPY, SPEECH THERAPY, OCCUPATIONAL THERAPY, SKILLED NURSING, PERSONAL CARE, ACTIVITIES, HOME HEALTH AND OTHER RELATED SERVICES. MAINTENANCE AND OTHER SERVICES PROVIDE GENERAL MAINTENANCE AND SERVICE REPAIRS TO THE CENTER, INCLUDING DEPRECIATION AND INTEREST EXPENSE, SECURITY, TRANSPORTATION, AND OTHER SERVICES AS NEEDED. DINING SERVICES PROVIDE DAILY MEALS TO RESIDENTS, INCLUDING SPECIAL DIETARY NEEDS OF RESIDENTS AND SPECIAL FUNCTIONS AS REQUESTED BY RESIDENTS. THERE IS ALSO A COFFEE SHOP FOR RESIDENTS, STAFF AND GUESTS. 43152656 true true false false false false false false false true false false false true false false true false false false false false false true false false false true true true false false false false false false false false false false false false false false true false false false false true 11 0 548 true false false false false false false false false false false false false X 17 16 false true false false false false false true true false false true true true true true true true true false PA X WANDA MANN CONTROLLER 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 BRUCE J MCKENNEY CHAIR 2.0 0.0 X X 0 0 0 EUGENE D DOLLOFF VICE-CHAIR 2.0 0.0 X X 0 0 0 JAMES R BEAM SECRETARY 2.0 0.0 X X 0 0 0 JEREMY C BRENN TREASURER 2.0 0.0 X X 0 0 0 PAUL NORDEMAN PRESIDENT/CEO 40.0 0.0 X X 435629 0 43726 BARBARA H OST DIRECTOR 2.0 0.0 X 0 0 0 HELENE BOCLAIR DIRECTOR 2.0 0.0 X 0 0 0 ILENE WARNER-MARON DIRECTOR 2.0 0.0 X 0 0 0 JEFFREY S RIEDER DIRECTOR 2.0 0.0 X 0 0 0 JOSEPH P CHRIST DIRECTOR 2.0 0.0 X 0 0 0 LAWRENCE W DESSEN DIRECTOR 2.0 0.0 X 0 0 0 MARK STRASBURG DIRECTOR 2.0 0.0 X 0 0 0 MARY LINDNER DIRECTOR (UNTIL 05/23) 2.0 0.0 X 0 0 0 NANCY BICKEL DIRECTOR 2.0 0.0 X 0 0 0 ROBERT IRONS DIRECTOR 2.0 0.0 X 0 0 0 TODD BEVINGTON DIRECTOR 2.0 0.0 X 0 0 0 W BRUCE FETZ DIRECTOR 2.0 0.0 X 0 0 0 WILLIAM D BLACK DIRECTOR 2.0 0.0 X 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 40.0 0.0 X 227888 0 20579 BARBARA FRITZINGER VP OF HUMAN RESOURCES 40.0 0.0 X 179039 0 25256 JOHN KOTSATSO MARKETING SALES REP. 40.0 0.0 X 152248 0 4428 MARLON BACK VP OF MAINTENANCE 40.0 0.0 X 181411 0 7875 NICK BALL SALES REPRESENTATIVE 40.0 0.0 X 129800 0 5995 REGINA FARRELL VP OF HEALTH CENTER 40.0 0.0 X 201332 0 20339 1507347 0 128198 15 false true false Moss Rehab 60 E Township Line Road Elkins Park PA 19027 Therapy Services 665000 Unidine Corporation PO Box 102289 Atlanta GA 30368 Dining Services 612000 Promark 1040 Cedar Meadow Lane Green Lane PA 18054 Painting 397363 Williams Electric 418 S Stone Ridge Drive Lansdale PA 19446 Electrician 360000 TJ's Outdoor Maintenance PO Box 1253 Skippack Pike PA 19474 Landscaping 350000 10 34000 827166 861166 NET RESIDENT SERVICE REVENUE 623000 34514148 34514148 AMORTIZATION OF ENTRANCE FEES 623000 8904214 8904214 0 0 0 0 43418362 863915 863915 199547 199547 80079 112957 -32878 0 -32878 -32878 5426779 5649926 -223147 0 -223147 -223147 4948 34000 7545 -2597 -2597 INSURANCE PROCEEDS 524298 413786 413786 0 0 0 0 413786 45498154 43418362 0 1218626 177782 177782 727822 727822 15368587 13364255 2004332 364925 291246 73679 2268136 1981098 287038 1175416 1008489 166927 47916 47916 50668 50668 88555 88555 131409 131409 2760735 2020277 740458 0 93708 93708 1381650 883101 498549 509021 509021 3197401 3197401 70218 30016 40202 61130 18214 42916 3250913 3250913 12136218 12136218 499089 499089 food & beverages 1983252 1960561 22691 repairs & maintenance 1484075 1420531 63544 medical supplies 554858 554858 license & fees 190823 167266 23557 691864 191341 500523 0 49266171 43152656 6113515 0 4576930 5887624 14324237 301226 2553971 2718631 0 0 251156 183810 1182998 1170472 231300993 123372397 104767402 107928596 33202372 43202070 0 0 0 110982 160859066 161503411 3893668 4538653 71457324 75532277 71431996 69908466 0 302459 0 28951908 27574920 176037355 177554316 X -16243356 -16819893 1065067 768988 -15178289 -16050905 160859066 161503411 X -3768017 2584466 310935 X false true X true false X 432023 1648431 7512113 860908 861166 11314641 30940613 33377658 34438289 40425845 43418362 182600767 0 0 0 31372636 35026089 41950402 41286753 44279528 193915408 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 193915408 910064 615902 555903 580774 1143541 3806184 0 910064 615902 555903 580774 1143541 3806184 0 112256 2697 0 1105902 418724 1639579 32394956 35644688 42506305 42973429 45841793 199361171 0.9727 0.976 0.02 0.0173 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - REBATES & CREDITS, COLUMN A - 6.0, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 6.0; DESCRIPTION - INSURANCE PROCEEDS, COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - 1094515.0, COLUMN E - 413786.0, COLUMN F - 1508301.0; DESCRIPTION - BENEVOLENT FUNDS, COLUMN A - 102776.0, COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 102776.0; DESCRIPTION - MISCELLANEOUS, COLUMN A - 3018.0, COLUMN B - 2697.0, COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 5715.0; DESCRIPTION - NON-CHARITABLE FUNDRAISING RECEIPTS, COLUMN A - 6456.0, COLUMN B - , COLUMN C - , COLUMN D - 11387.0, COLUMN E - 4938.0, COLUMN F - 22781.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4459217 4459217 189114602 104371968 84742634 30529103 16240249 14288854 7198071 2760180 4437891 107928596 REFUNDABLE DEPOSITS 1152900 REFUNDABLE ENTRY FEES 26422020 FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 0 27574920 48283712 2584466 80590 2665056 45618656 -120502 -120502 45498154 49156328 120502 120502 49035826 230345 230345 49266171 Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS - 310935 BENEVOLENT CARE AND MONTHLY FEE SUBSIDY FOR RESIDENTS - -177782 EMPLOYEE DISCOUNT NETTED AGAINST REVENUE ON FINANCIALS - -52563 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Rental Expenses - -112957 Fundraising Expenses - -7545 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rental Expenses - 112957 Fundraising Expenses - 7545 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements BENEVOLENT CARE AND MONTHLY FEE SUBSIDY FOR RESIDENTS - 177782 EMPLOYEE DISCOUNT NETTED AGAINST REVENUE ON FINANCIALS - 52563 Art Show 38948 34000 4948 7545 0 0 38948 34000 4948 7545 7545 -2597 true Benevolent Care and Monthly Fee Subsidies 3 177783 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Meadowood is committed to providing a comprehensive range of services to meet the needs of residents, including providing financial assistance when needed and if funds are available. As individual residents live longer, or as economic fortunes change, the expenses of some residents may exceed their ability to pay. It is the policy of Meadowood to offer financial assistance to residents when financial need occurs. To this end, Meadowood has established a Benevolence Fund that is intended to help residents financially and to assure that Meadowood itself will remain a financially secure not-for-profit retirement community. A resident seeking financial assistance from the Benevolent Fund must present certain financial information to the Vice-President of Finance/CFO, who in turn will make a recommendation to the Finance Committee. Approval of the request is given by the Finance Committee, at the sole discretion of the Committee. Recertification of benevolent care is performed at least annually. Subsidy for benevolent care or subsidy to monthly fee is credited directly to the monthly invoice. X X X X false false false false false false false true false PAUL NORDEMAN PRESIDENT/CEO 360629 0 75000 0 0 0 18300 0 25426 0 479355 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 217888 0 10000 0 0 0 11163 0 9416 0 248467 0 0 0 REGINA FARRELL VP OF HEALTH CENTER 191332 0 10000 0 0 0 5934 0 14405 0 221671 0 0 0 BARBARA FRITZINGER VP OF HUMAN RESOURCES 169039 0 10000 0 0 0 11741 0 13515 0 204295 0 0 0 MARLON BACK VP OF MAINTENANCE 169411 0 12000 0 0 0 7037 0 838 0 189286 0 0 0 JOHN KOTSATSO MARKETING SALES REP. 142248 0 10000 0 0 0 4428 0 0 0 156676 0 0 0 Schedule J, Part I, Line 7 Non-fixed payments Payment of bonuses in any given year is contingent upon satisfactory financial performance, as determined by the Board of Directors. For extraordinary management performance as measured by financial or qualitative results, the Board may authorize at the end of any given year an additional amount to supplement the budgeted bonus pool for the year. If financial performance is less than budget, the Board may authorize a partial payment of the budgeted bonus amount based upon partial attainment of overall financial and qualitative goals. Accrued bonuses were paid to the management team in 2023 that were based on each manager's performance. The President/CEO determined and approved the bonuses for the management team and his own bonus was determined and approved by the board. The process is documented by a board approved policy and the payouts are documented in individual memos. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245725 613609F92 2018-11-08 87230000 SEE PART VI false false false A 18259008 90542475 4272585 1429261 1350276 54018691 29597591 2020 true false true true A false false false false 0.0 0.0 0.0 false false true A false false false true true false false false true A true Schedule K, Part I DESCRIPTION OF PURPOSE: CURRENTLY REFUND PRIOR ISSUED BONDS, CAPITAL IMPROVEMENTS Schedule K, Part V Different Procedures to Undertake Corrective Action Issuer name: MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY THE GROSS PROCEEDS DIFFER FROM THE STATED BOND VALUES DUE TO BOND PREMIUM INCLUDED AT ISSUANCE AS WELL AS INVESTMENT INCOME EARNINGS. Schedule K, Part IV, Line 2c COLUMN A Issuer name: MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY The calculation for computing no rebate due was performed on 11/08/2023 Form 990, Part VI, Line 3 Delegation of management duties - FLICK SENIOR DINING runs the dining services provided at Meadowood. - Genesis runs the therapy services provided at Meadowood. Form 990, Part VI, Line 11b Review of form 990 by governing body The CFO and Controller coordinate obtaining responses to questions on the Form 990 and query the appropriate parties. The draft is reviewed by the CFO. The final version is reviewed with the finance committee of the board of directors and summarized to the full board, who also receive a full copy of the final version before the return is filed with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy According to organization's conflict of interest policy, every Trustee and senior staff member (strategic team) will complete an "annual conflict of interest and disclosure of related activities statement". The purpose of the statement is to disclose any interest that may create a conflict of interest in light of the relationship with Meadowood. The Executive Assistant to the CEO reviews all signed conflict of interest forms. If any interest is disclosed on the statements and is deemed to be a concern by staff or board members, the board will review the potential conflict and recommend action to mitigate the conflict or end the relationship that has caused the conflict. Family and business relationships are mentioned as sources of conflict in the policy statement. Form 990, Part VI, Line 15a Process to establish compensation of top management official At year-end, the President/CEO submits his assessment of his achievement of his goals and any other pertinent information regarding his responsibilities for the previous year to the Executive Committee (EC). The VP of Human Resources (HR) submits current comparative wage information regarding other CEOs to the EC. The EC reviews the CEO's assessment, HR data and, as necessary, solicits other information or comments from the staff. The EC makes a recommendation to the Board concerning the CEO's review and the following year's compensation. The Board meets in Executive Session, reviews the entire process, makes a final evaluation and determines the next year's compensation. This process and executive session are documented in meeting minutes. The Board Chair delivers the Board's decision to the CEO. Market rate comparisons are also obtained for all key staff positions and communicated to the CEO as part of the annual review process, which also includes a self-evaluation, evaluation by the CEO, and goal setting. The VP of Human Resources ensures that the proper rates are paid. Documentation is in the form of a written review. This review is performed every year for all relevant staff. Form 990, Part VI, Line 19 Required documents available to the public An annual disclosure statement includes the audited financial statements and is provided to all prospective residents. It is also available upon request. The governing documents and conflict of interest policy are available upon request and in the community's library. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS - 310935; MEADOWOOD LIFE PLAN AT HOME LLC - 3205 SKIPPACK PIKE WORCESTER PA 194900670 812582891 PROVIDES HOME CARE SERVICES TO ITS MEMBERS PA 463035 1158852 MEADOWOOD CORPORATION