2023-01-13T19:08:01-06:00 2022-03-31 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2021-04-01 362167832 WESTMINSTER PLACE WEST 8479793902 8707 SKOKIE BOULEVARD 400 SKOKIE IL 60077 NADIM ABI-ANTOUN CHIEF EXECUTIVE OFFICER 8479793902 2023-01-09 1 NADIM ABI-ANTOUN 999009999 DAVID LOWENTHAL P00378651 3122071040 2023-01-09 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z NADIM ABI-ANTOUN 8707 SKOKIE BOULEVARD 400 SKOKIE IL 60077 52870358 0 X WWW.PRESBYTERIANHOMES.ORG X 1904 IL WESTMINSTER PLACE, A FAITH BASED NOT FOR PROFIT, CREATES VIBRANT COMMUNITIES FOR OLDER ADULTS THAT INSPIRE WELLNESS, INDEPENDENCE, JOY AND SECURITY - ENRICHING THE LIVES OF RESIDENTS AND THEIR FAMILIES. 15 15 502 205 0 0 4336646 3673991 46574051 48078568 884097 778329 91844 98480 51886638 52629368 0 0 0 0 23635013 22727113 0 0 0 25849173 27760339 49484186 50487452 2402452 2141916 167925027 182178492 139682699 139514202 28242328 42664290 X WESTMINSTER PLACE, A FAITH BASED NOT FOR PROFIT, CREATES VIBRANT COMMUNITIES FOR OLDER ADULTS THAT INSPIRE WELLNESS, INDEPENDENCE, JOY AND SECURITY - ENRICHING THE LIVES OF RESIDENTS AND THEIR FAMILIES. 0 0 15727201 17246706 WESTMINSTER PLACE IS A NOT-FOR-PROFIT INDEPENDENT LIVING, LIFE PLAN COMMUNITY (FORMERLY KNOWN AS CONTINUING CARE RETIREMENT COMMUNITY). INDEPENDENT LIVING FACILITY IN WESTMINSTER PLACE CONSISTS OF 237 APARTMENTS, TOWNHOUSES AND COTTAGES. SERVICES PROVIDED BY WESTMINSTER PLACE INCLUDE FLEXIBLE DINING OPTIONS, HOUSEKEEPING AND COMPLETE MAINTENANCE SERVICES, TRANSPORTATION AS WELL AS PLANNED SOCIAL AND EDUCATIONAL ACTIVITIES AND PROGRAMS. DURING THE FILING YEAR, WESTMINSTER PLACE SERVED 303 INDEPENDENT LIVING RESIDENTS. 7833796 7239874 THE ASSISTED LIVING FACILITY AT WESTMINSTER PLACE PROVIDES ASSISTED LIVING FOR OLDER ADULTS WHO NEEDED ASSISTANCE WITH PERSONAL CARE AND DAILY ACTIVITIES. IT CONSISTS OF 93 STUDIO, ONE AND TWO-BEDROOM APARTMENTS. DURING THE FILLING YEAR, WESTMINSTER PLACE ASSISTED LIVING FACILITY SERVED 118 RESIDENTS. 20087113 23347108 WESTMINSTER PLACE HEALTH CARE CENTERS PROVIDE INTERMEDIATE AND SKILLED NURSING FOR BOTH SHORT AND LONG TERM STAYS. RESPITE, REHABILITATION, AND PROGRAMS TO CARE FOR THOSE WITH ALZHEIMER'S DISEASE AND OTHER COGNITIVE IMPAIRMENTS ARE ALSO AVAILABLE. THE HEALTH CARE CENTERS INCLUDE 100 SKILLED, MEDICARE-CERTIFIED BEDS AND 95 INTERMEDIATE AND MEMORY CARE BEDS. DURING THE FILING YEAR, THE HEALTH CARE CENTERS SERVED A TOTAL OF 431 RESIDENTS. 244880 REVENUE IS RELATED TO LEASE INCOME FROM RELATED ORGANIZATIONS AND OTHER INCOME. 244880 43648110 1 1 0 0 0 0 0 0 0 0 1 0 0 1 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 0 0 0 0 0 1 0 0 0 1 39 0 1 502 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X MARK HAVRILKA 8479793904 8707 SKOKIE BLVD SUITE 400 SKOKIE IL 60077 X PAULA NOBLE BOARD CHAIR 1.00 2.00 X X 0 0 0 VINCE KELLY TREASURER 1.00 2.00 X X 0 0 0 MICHAEL KIRBY SECRETARY 1.00 2.00 X X 0 0 0 TERRI BRADY DIRECTOR 1.00 2.00 X 0 0 0 CHARLIE DENISON DIRECTOR 1.00 2.00 X 0 0 0 DAVID DONNERSBERGER DIRECTOR 1.00 2.00 X 0 0 0 MONICA HEENAN DIRECTOR 1.00 2.00 X 0 0 0 ELINOR HITE DIRECTOR 1.00 2.00 X 0 0 0 MIKE LINCOLN DIRECTOR 1.00 2.00 X 0 0 0 THOMAS MCAFEE DIRECTOR 1.00 2.00 X 0 0 0 DENNIS MARX DIRECTOR 1.00 2.00 X 0 0 0 MARSHALL PECK DIRECTOR 1.00 2.00 X 0 0 0 JULIE SEYMOUR DIRECTOR 1.00 2.00 X 0 0 0 MARK TOLEDO DIRECTOR 1.00 2.00 X 0 0 0 MARK WETZEL DIRECTOR 1.00 2.00 X 0 0 0 TODD SWORTZEL CEO 7.50 30.00 X 0 768278 277307 NADIM ABI-ANTOUN COO 13.00 24.50 X 0 470693 151022 MARK HAVRILKA CFO 11.00 26.50 X 0 437243 128129 NANCY TOLAN VP, FACILITY MANAGEMENT 17.00 20.50 X 0 259746 57196 MIRIAM WALLACE VP, HUMAN RESOURCES 13.00 24.50 X 0 260186 53082 WILLIAM CASPER EXEC. DIR. WESTMINSTER PLACE 37.50 0.00 X 182202 0 57279 ROBERT WERDAN VP, MARKETING & PUBLIC RELATIONS 12.00 25.50 X 0 346968 38970 PETER JAGGARD MEDICAL DIRECTOR 30.00 0.00 X 226678 0 12952 DANIEL WEINBERGER VP, INFORMATION TECHNOLOGY 13.00 24.50 X 0 173955 52978 ALPANA PATEL VP, CLINICAL SERVICES 13.00 24.50 X 0 169322 30604 LINDSEY AUMICK DIRECTOR OF FINANCE 11.00 26.50 X 0 178199 11138 ANDREW WISSEL DIRECTOR, HUMAN RESOURCES 13.00 24.50 X 0 160218 36081 408880 3224808 906738 20 1 1 0 SKENDER CONSTRUCTION LLC 1330 W FULTON ST STE 200 CHICAGO IL 60607 CONSTRUCTION 9090615 ATOMATIC MECHANICAL SERVICES INC 3733 N VENTURA DR ARLINGTON HEIGHTS IL 60004 HVAC MECHANICAL CONTRACTOR 4080628 UNIDINE CORPORATION 1000 WASHINGTON STREET SUITE 510 BOSTON MA 02118 DINING / FOOD SERVICES 2826243 ILLINOIS CONSTRUCTION SERVICES INC 1733 N 33RD STREET STONE PARK IL 60165 CONSTRUCTION 2218060 S&S CUSTOM CABINETRY 6733 N LINCOLN AVE LINCOLNWOOD IL 60712 CONTRACTOR 1687139 29 2605766 1068225 3673991 HEALTH CARE FEES 623311 23347108 23347108 INDEPENDENT LIVING FEES 623311 11687424 11687424 ASSISTED LIVING FEES 623311 7239874 7239874 DEFERRED ENTRANCE FEE INCOME 623311 5559282 5559282 ALL OTHER 623311 244880 244880 48078568 548983 548983 66024 0 66024 66024 66024 229346 0 229346 229346 229346 273446 240990 32456 32456 52629368 48078568 0 876809 354970 354970 18066920 17101286 965634 696968 667172 29796 2304258 2154200 150058 1303997 1206825 97172 3549055 3549055 138921 138921 28030 28030 19428 19428 4401606 4106904 294702 741122 741122 157692 128706 28986 472490 467342 5148 2287 2264 23 617919 595373 22546 10030684 10030684 753273 753273 BUILDING SERVICES & UTI 2833399 2833399 FOOD COSTS AND DINING S 1659252 1659252 PHARMACY AND MEDICAL SU 912807 878819 33988 REAL ESTATE AND PROVIDE 725855 725855 716519 336756 379763 50487452 43648110 6839342 0 12594888 9890651 9204839 9207601 978675 1083843 1031965 974764 244747603 143628908 87031116 101118695 28449283 41386718 28634261 18516220 167925027 182178492 9046373 11033866 35214273 33623897 48292935 47530373 47129118 47326066 139682699 139514202 X 28242328 42664290 28242328 42664290 167925027 182178492 X 2141916 -320123 12600169 X X 0 1 X 1 1 0 X 5524173 3146539 3172955 4336646 3673991 19854304 46109616 48168158 50608788 46574051 48078568 239539181 284284 280096 275390 201696 273446 1314912 51918073 51594793 54057133 51112393 52026005 260708397 5524173 3146539 3172955 2964640 2605766 17414073 0 5524173 3146539 3172955 2964640 2605766 17414073 243294324 348984 613981 701006 559722 615007 2838700 348984 613981 701006 559722 615007 2838700 52267057 52208774 54758139 51672115 52641012 263547097 0.92320 0.91750 0.01080 0.00980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 333953 333953 197539407 123351323 74188084 40749870 20277585 20472285 6124373 6124373 101118695 ASSETS LIMITED AS TO USE 17881129 ENTRANCE FEE RECEIVABLE 357720 AGENCY FUNDS 90007 DUE FROM RELATED PARTIES 167541 RIGHT-TO-USE ASSETS 19823 18516220 SAFEKEEPING ACCOUNTS 736399 REFUNDABLE ENTRANCE FEES 39999051 REFUNDABLE DEPOSITS 953943 DUE TO RELATED PARTIES 1146524 ASSET RETIREMENT OBLIGATION 4466931 DEFERRED COMPENSATION - LONG TERM 18333 CURRENT PORTION OF LEASE LIABILITY 4885 47326066 X PART X, LINE 2: PRESBYTERIAN HOMES, WESTMINSTER PLACE, AND GENEVA FOUNDATION OF PRESBYTERIAN HOMES FOLLOW THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE PARENT, WESTMINSTER PLACE, AND THE FOUNDATION FILE INFORMATIONAL RETURNS AS TAX-EXEMPT ORGANIZATIONS. THE INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. X 1 1 0 1 0 0 0 0 0 1 0 TODD SWORTZEL CEO 0 541657 0 40031 0 186590 0 249180 0 28127 0 1045585 0 159026 NADIM ABI-ANTOUN COO 0 391590 0 29496 0 49607 0 124973 0 26049 0 621715 0 23369 MARK HAVRILKA CFO 0 345740 0 25852 0 65651 0 99372 0 28757 0 565372 0 39975 ROBERT WERDAN VP, MARKETING & PUBLIC RELATIONS 0 205236 0 15975 0 125757 0 14519 0 24451 0 385938 0 122721 NANCY TOLAN VP, FACILITY MANAGEMENT 0 216713 0 17047 0 25986 0 36342 0 20854 0 316942 0 16089 MIRIAM WALLACE VP, HUMAN RESOURCES 0 240129 0 17785 0 2272 0 38176 0 14906 0 313268 0 0 PETER JAGGARD MEDICAL DIRECTOR 215863 0 1065 0 9750 0 12952 0 0 0 239630 0 0 0 WILLIAM CASPER EXEC. DIR. WESTMINSTER PLACE 169136 0 11004 0 2062 0 23794 0 33485 0 239481 0 0 0 DANIEL WEINBERGER VP, INFORMATION TECHNOLOGY 0 160539 0 12928 0 488 0 27981 0 24997 0 226933 0 0 ALPANA PATEL VP, CLINICAL SERVICES 0 157707 0 11289 0 326 0 26709 0 3895 0 199926 0 0 ANDREW WISSEL DIRECTOR, HUMAN RESOURCES 0 127047 0 10243 0 22928 0 8351 0 27730 0 196299 0 15889 LINDSEY AUMICK DIRECTOR OF FINANCE 0 165906 0 11988 0 305 0 9954 0 1184 0 189337 0 0 PART I, LINE 1A TODD F. SWORTZEL, CEO, RECEIVES A $24,000 TAXABLE HOUSING ALLOWANCE FROM PRESBYTERIAN HOMES (THE SOLE CORPORATE MEMBER OF WESTMINSTER PLACE WHICH IS INCLUDED IN W-2 WAGES.) PART I, LINE 3 THE GOVERNANCE COMMITTEE OF PRESBYTERIAN HOMES (SOLE MEMBER OF WESTMINSTER PLACE) IS RESPONSIBLE FOR ALL COMPENSATION AND BENEFIT MATTERS FOR SENIOR MANAGEMENT AND KEY EMPLOYEES. PRESBYTERIAN HOMES ANNUALLY PARTICIPATES IN AN INDUSTRY SPECIFIC EXECUTIVE COMPENSATION SURVEY. THE RESULTS OF THIS SURVEY ARE REVIEWED BY MANAGEMENT AND SHARED WITH THE COMMITTEE AS NECESSARY. IN ADDITION THE COMMITTEE REGULARLY ENGAGES AN EXTERNAL COMPENSATION CONSULTING FIRM TO ASSIST IN ITS REVIEW OF THE LEVEL OF COMPENSATION, INCENTIVES AND BENEFITS FOR SENIOR EXECUTIVES AND KEY EMPLOYEES EVERY THREE YEARS. THE COMPENSATION CONSULTANTS ACCUMULATE AND PRESENT TO THE GOVERNANCE COMMITTEE MARKET INFORMATION FOR EACH SENIOR EXECUTIVE POSITION, SUMMARIZE INDIVIDUAL EXECUTIVE COMPENSATION, INCENTIVE AND BENEFITS PACKAGES AND BENCHMARK THAT INFORMATION TO THE INDUSTRY DATA THEY HAVE ACCUMULATED. ANNUALLY, THE ORGANIZATION'S STAFF AND/OR THE BOARD OF DIRECTORS PREPARES PERFORMANCE REVIEWS FOR ALL SENIOR MANAGERS AND KEY EMPLOYEES AND MAKES A RECOMMENDATION TO THE GOVERNANCE COMMITTEE REGARDING COMPENSATION, INCENTIVES AND BENEFITS ADJUSTMENTS. THE GOVERNANCE COMMITTEE CONSIDERS THE PERFORMANCE RECOMMENDATION, COMPARISONS OF TOTAL COMPENSATION BY EXECUTIVE TO MARKET COMPENSATION PERCENTILE FOR INDUSTRY EXECUTIVES WITH SIMILAR JOB TITLES AND/OR SKILL SETS, AND ORGANIZATIONAL NEEDS IN TERMS OF MEETING THE CHALLENGES OF THE UNIQUE BUSINESS OF PROVIDING SENIOR CARE SERVICES. THE GOVERNANCE COMMITTEE MAKES A RECOMMENDATION REGARDING COMPENSATION AND BENEFITS CHANGES FOR SENIOR MANAGEMENT WHICH IS APPROVED ANNUALLY BY THE FULL BOARD OF DIRECTORS WITHIN THE BUDGET PROCESS. THE GOVERNANCE COMMITTEE PROCEEDINGS ARE CONTEMPORANEOUSLY DOCUMENTED AND MINUTES ARE MAINTAINED AND ON FILE AT THE CORPORATE OFFICE. PART I, LINE 4B PRESBYTERIAN HOMES (SOLE MEMBER OF WESTMINSTER PLACE) HAS ESTABLISHED A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. THE ORGANIZATION'S ACCRUALS INTO THE PLAN ARE RECORDED ON THE 990 AS DEFERRED COMPENSATION. HOWEVER, THESE MONIES VEST OVER A FIVE-YEAR PERIOD AND ARE ONLY ELIGIBLE TO BE RECEIVED BASED UPON THE ACHIEVEMENT OR SATISFACTION OF SOME FUTURE EVENT. THE PLAN CONTRIBUTIONS ARE NOT UNDER THE CONTROL OF THE EXECUTIVE, THEY REMAIN THE ASSET OF THE ORGANIZATION, AND THE ENTIRE PLAN IS SUBJECT TO A FULL RISK OF FORFEITURE BY THE INDIVIDUAL. DURING THE YEAR THE FOLLOWING INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN: TODD SWORTZEL, MARK HAVRILKA, NADIM ABI-ANTOUN, NANCY TOLAN, ROBERT WERDAN, ANDREW WISSEL, MIRIAM WALLACE, ALPANA PATEL, DANNY WEINBERGER AND WILLIAM CASPER. DURING THE YEAR TODD SWORTZEL RECEIVED PAYMENTS TOTALING $159,026 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR NADIM ABI-ANTOUN RECEIVED PAYMENTS TOTALING $23,369 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR MARK HAVRILKA RECEIVED PAYMENTS TOTALING $39,975 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR NANCY TOLAN RECEIVED PAYMENTS TOTALING $16,089 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR ANDREW WISSEL RECEIVED PAYMENTS TOTALING $15,889 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. DURING THE YEAR ROBERT WERDAN RECEIVED PAYMENTS TOTALING $122,721 FROM A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. EFFECTIVE APRIL 1, 2021, PRESBYTERIAN HOMES (SOLE MEMBER OF WESTMINSTER PLACE) HAS ESTABLISHED AN EXECUTIVE RETENTION BONUS PROGRAM, A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION AGREEMENT. THE ORGANIZATION'S ACCRUALS INTO THE AGREEMENT ARE RECORDED ON THE 990 AS DEFERRED COMPENSATION. THESE COMPENSATIONS ARE VESTED OVER A THREE-YEAR PERIOD AND ARE SUBJECT TO EXECUTIVE'S SATISFACTION OF THE TERMS AND CONDITIONS OF THE AGREEMENT. THE CONTRIBUTIONS OF THIS AGREEMENT ARE NOT UNDER THE CONTROL OF THE EXECUTIVE, AND THEY REMAIN THE ASSET OF THE ORGANIZATION. THE ENTIRE AGREEMENT IS SUBJECT TO A FULL RISK OF FORFEITURE BY THE INDIVIDUAL. DURING THE YEAR THE FOLLOWING INDIVIDUALS PARTICIPATED IN THIS RETENTION BONUS PROGRAM: TODD SWORTZEL, NADIM ABI-ANTOUN AND MARK HAVRILKA. PART I, LINE 7 AS INDICATED IN SCHEDULE J, PART II, THE OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION RECEIVED A BONUS DURING THE YEAR. THE PRESBYTERIAN HOMES BOARD OF DIRECTORS APPROVED MANAGEMENT'S RECOMMENDATION OF A NON-PERFORMANCE BASED DISCRETIONARY BONUS OF 7.5% OF 2021 BASE SALARY TO THE LEADERSHIP TEAM IN RECOGNITION OF THE EXTRAORDINARY EFFORTS, LEADERSHIP, AND TEAMWORK DURING THE COVID-19 PANDEMIC IN FY2021. A ILLINOIS FINANCE AUTHORITY 861091967 45204EBD9 2016-04-27 114484316 TO REFUND THE SERIES 1996A, 2001, 2006 AND 2007 BONDS 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 45204FHL2 2021-03-31 70917301 TO REFUND SERIES 2016B BONDS & FUND COSTS OF CERTAIN WESTMINSTER FACILITIES 0 0 0 A 6618975 14230400 230400 14000000 2016 1 0 1 1 B 41493781 476620 19034132 4101990 17881129 1 0 0 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ILLINOIS FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/19/2021 SCHEDULE K, PART I AND II, LINE 3, BOND A: THE 2016 BOND WAS ISSUED FOR THE BENEFIT OF LAKE FOREST PLACE, LLC (A DISREGARDED ENTITY OF PRESBYTERIAN HOMES). TOTAL PROCEEDS FOR THE BOND IS $114,484,316. $14,230,400 OF THE TOTAL PROCEEDS IS ALLOCABLE TO WESTMINSTER PLACE. THE REMAINING PROCEEDS OF $100,253,916 ARE REPORTED ON THE FORM 990, SCHEDULE K OF PRESBYTERIAN HOMES. SCHEDULE K, PART II, LINE 7, BOND A: TOTAL ISSUANCE COST FOR THE BOND IS $1,817,171. $230,400 OF THE TOTAL COST IS ALLOCABLE TO WESTMINSTER PLACE. THE REMAINING COST OF $1,586,771 IS REPORTED ON THE FORM 990, SCHEDULE K OF PRESBYTERIAN HOMES. SCHEDULE K, PART I AND II, LINE 3, BOND B: THE 2021 BOND WAS ISSUED FOR THE BENEFIT OF LAKE FOREST PLACE, LLC (A DISREGARDED ENTITY OF PRESBYTERIAN HOMES). TOTAL PROCEEDS FOR THE BOND IS $70,917,301. $41,493,781 OF THE TOTAL PROCEEDS IS ALLOCABLE TO WESTMINSTER PLACE. THE REMAINING PROCEEDS OF $29,423,520 ARE REPORTED ON THE FORM 990, SCHEDULE K OF PRESBYTERIAN HOMES. SCHEDULE K, PART II, LINE 7, BOND B: TOTAL ISSUANCE COST FOR THE BOND IS $1,002,040. $476,620 OF THE TOTAL COST IS ALLOCABLE TO WESTMINSTER PLACE. THE REMAINING COST OF $525,420 IS REPORTED ON THE FORM 990, SCHEDULE K OF PRESBYTERIAN HOMES. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, THE VICE CHAIR, THE SECRETARY, THE TREASURER, AND SUCH ADDITIONAL MEMBERS OF THE BOARD AS FROM TIME TO TIME MAY BE DETERMINED BY THE BOARD OF DIRECTORS. THE PRESIDENT/CEO SHALL BE A NON-VOTING ATTENDEE AT ALL MEETINGS OF THE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN EMERGENCIES WHEN CONVENING THE FULL BOARD IS NOT PRACTICABLE AND SHALL REPORT ITS ACTIONS TO THE BOARD AT THE EARLIEST OPPORTUNITY. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION HAS AN AGREEMENT WITH PRESBYTERIAN HOMES MANAGER, LLC WHO EMPLOYS THE MANAGEMENT TEAM AND MANAGES THE FACILITIES AND PROVIDES A NUMBER OF SERVICES ON A CENTRALIZED BASIS UNDER THE TERMS OF A SEPARATE MANAGEMENT SERVICES AGREEMENT. PURSUANT TO THE MANAGEMENT SERVICES AGREEMENT, THE FEE IS DETERMINED ON AN ANNUAL BASIS BY AGREEMENT BETWEEN PH MANAGER, LLC AND THE ORGANIZATION. TOTAL MANAGEMENT FEES PAID FOR THE YEAR ENDED MARCH 31, 2022 WERE $3,549,055, 6.5% OF THE ORGANIZATION'S BUDGETED REVENUES. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE CORPORATE MEMBER OF WESTMINSTER PLACE IS PRESBYTERIAN HOMES (EIN 47-1545753). FORM 990, PART VI, SECTION A, LINE 7A ARTICLE I, SECTION 4 OF THE BYLAWS INDICATES THAT THE MEMBER (PRESBYTERIAN HOMES) SHALL BE ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBER. ARTICLE III, SECTION 1 OF THE BYLAWS INDICATES THAT THE NUMBER OF DIRECTORS MAY BE DECREASED TO NOT FEWER THAN THREE (3) OR INCREASED TO ANY NUMBER FROM TIME TO TIME BY THE MEMBER (PRESBYTERIAN HOMES), IN A WRITING SIGNED BY THE MEMBER (PRESBYTERIAN HOMES). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, AND IS THEN PRESENTED TO THE AUDIT COMMITTEE, WHICH ACTS AS A REPRESENTATIVE OF THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. THIS IS ACCOMPLISHED PRIOR TO THE FILING OF THE FORM 990. THE AUDIT COMMITTEE FORWARDS ITS RECOMMENDATION FOR ACCEPTANCE OF THE FORM 990 TO THE BOARD OF DIRECTORS. COPIES OF THE FORM 990 ARE ALSO FORWARDED TO THE ENTIRE BOARD FOR THEIR REVIEW AND COMMENT PERIOD. THE BOARD THEN ACTS ON THE RECOMMENDATION OF THE AUDIT COMMITTEE PRIOR TO THE 990 BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C AN EXTENSIVE CONFLICTS OF INTEREST POLICY WAS ADOPTED IN APRIL 2001 AND MOST RECENTLY REVISED IN 2019. THE POLICY DEFINES COVERED FIDUCIARIES AS PERSONS TO WHOM THIS POLICY APPLIES, AND INCLUDES ALL DIRECTORS, OFFICERS, IDENTIFIED KEY EMPLOYEES AND AGENTS OF PRESBYTERIAN HOMES. AN ANNUAL DISCLOSURE FORM IS PROVIDED TO ALL IDENTIFIED COVERED FIDUCIARIES FOR COMPLETION AND RETURN. PRESBYTERIAN HOMES ALSO ASKS ALL COVERED FIDUCIARIES TO PROVIDE DISCLOSURE WHENEVER CONFLICTS OR DUALITIES OF INTEREST ARISE OR ARE SUSPECTED. IN ADDITION, THE AUDIT COMMITTEE CHAIR SHALL REMIND DIRECTORS AT ALL MEETINGS OF THE BOARD OR BOARD COMMITTEE TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS OR DUALITIES AS ONE OF THEIR ONGOING DUTIES UNDER THE POLICY. COVERED FIDUCIARIES ARE REQUIRED TO DISCLOSE ANY FACTS OR CIRCUMSTANCES THAT MIGHT GIVE RISE TO POTENTIAL CONFLICTS OR DUALITIES. THE PRESIDENT/CEO OR HIS/HER DESIGNEE REVIEWS THE ANNUAL DISCLOSURE STATEMENTS SUBMITTED BY COVERED FIDUCIARIES AND DETERMINE SPECIFICALLY ANY ACTUAL OR POTENTIAL CONFLICTS OR DUALITIES OF INTEREST. THE PRESIDENT/CEO/DESIGNEE SHALL ADVISE THE APPROPRIATE BOARD OR BOARD COMMITTEE CHAIR AND THE AFFECTED COVERED FIDUCIARY(IES) ON THOSE MATTERS FOR WHICH CERTAIN COVERED FIDUCIARIES SHOULD NOT VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE GOVERNANCE COMMITTEE OF PRESBYTERIAN HOMES IS RESPONSIBLE FOR ALL COMPENSATION AND BENEFIT MATTERS FOR SENIOR MANAGEMENT AND KEY EMPLOYEES. PRESBYTERIAN HOMES ANNUALLY PARTICIPATES IN AN INDUSTRY SPECIFIC EXECUTIVE COMPENSATION SURVEY. THE RESULTS OF THIS SURVEY IS REVIEWED BY MANAGEMENT AND SHARED WITH THE COMMITTEE AS NECESSARY. IN ADDITION THE COMMITTEE REGULARLY ENGAGES AN EXTERNAL COMPENSATION CONSULTING FIRM TO ASSIST IN ITS REVIEW OF THE LEVEL OF COMPENSATION, INCENTIVES AND BENEFITS FOR SENIOR EXECUTIVES AND KEY EMPLOYEES EVERY THREE YEARS. THE COMPENSATION CONSULTANTS ACCUMULATE AND PRESENT TO THE GOVERNANCE COMMITTEE MARKET INFORMATION FOR EACH SENIOR EXECUTIVE POSITION, SUMMARIZE INDIVIDUAL EXECUTIVE COMPENSATION, INCENTIVE AND BENEFITS PACKAGES AND BENCHMARK THAT INFORMATION TO THE INDUSTRY DATA THEY HAVE ACCUMULATED. ANNUALLY, THE ORGANIZATION'S STAFF AND/OR THE BOARD OF DIRECTORS PREPARES PERFORMANCE REVIEWS FOR ALL SENIOR MANAGERS AND KEY EMPLOYEES AND MAKES A RECOMMENDATION TO THE GOVERNANCE COMMITTEE REGARDING COMPENSATION, INCENTIVES AND BENEFITS ADJUSTMENTS. THE GOVERNANCE COMMITTEE CONSIDERS THE PERFORMANCE RECOMMENDATION, COMPARISONS OF TOTAL COMPENSATION BY EXECUTIVE TO MARKET COMPENSATION PERCENTILE FOR INDUSTRY EXECUTIVES WITH SIMILAR JOB TITLES AND/OR SKILL SETS, AND ORGANIZATIONAL NEEDS IN TERMS OF MEETING THE CHALLENGES OF THE UNIQUE BUSINESS OF PROVIDING SENIOR CARE SERVICES. THE GOVERNANCE COMMITTEE MAKES A RECOMMENDATION REGARDING COMPENSATION AND BENEFITS CHANGES FOR SENIOR MANAGEMENT WHICH IS APPROVED ANNUALLY BY THE FULL BOARD OF DIRECTORS WITHIN THE BUDGET PROCESS. THE GOVERNANCE COMMITTEE PROCEEDINGS ARE CONTEMPORANEOUSLY DOCUMENTED AND MINUTES ARE MAINTAINED AND ON FILE AT THE CORPORATE OFFICE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC. CONTACT FOR THE INFORMATION IS THE CHIEF FINANCIAL OFFICER, MARK HAVRILKA AT PRESBYTERIAN HOMES, 8707 SKOKIE BOULEVARD, SUITE 400, SKOKIE, IL 60077. THE FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE ILLINOIS ATTORNEY GENERAL'S OFFICE. FORM 990, PART VII: THE CHIEF EXECUTIVE OFFICER ASSIGNS 80 PERCENT OF HIS TIME TO RELATED ORGANIZATIONS, PRESBYTERIAN HOMES AND THE GENEVA FOUNDATION, AND 20 PERCENT OF HIS TIME TO THE FILING ORGANIZATION, WESTMINSTER PLACE. THE CHIEF OPERATING OFFICER ASSIGNS 65 PERCENT OF HIS TIME TO PRESBYTERIAN HOMES, AND 35 PERCENT OF HIS TIME TO WESTMINSTER PLACE. THE CHIEF FINANCIAL OFFICER ASSIGNS 70 PERCENT OF HIS TIME TO THE PRESBYTERIAN HOMES AND THE GENEVA FOUNDATION, AND 30 PERCENT OF HIS TIME TO WESTMINSTER PLACE. FORM 990, PART XI, LINE 9: NET ASSETS TRANSFERRED FROM AFFILIATE 12,500,000. CAPTIVE MEMBER'S SAVING ALLOCATION 100,169. FORM 990, PART XII, LINE 3B: THE REQUIRED SINGLE AUDIT AS SET FORTH IN THE SINGLE AUDIT ACT AND OMB CIRCULAR A-133 HAS NOT BEEN COMPLETED YET FOR FUNDS RECEIVED DURING FISCAL YEAR ENDING MARCH 31, 2022, BUT PLANS TO BE COMPLETED BY THE EXTENDED DUE DATE AS ESTABLISHED IN THE RELEVANT OMB GUIDANCE. GENEVA FOUNDATION OF PRESBYTERIAN HOMES 8707 SKOKIE BOULEVARD SUITE 400 SKOKIE IL 60077 710945228 LIFE PLAN COMMUNITIES IL 501(C)(3) LINE 12A, I PRESBYTERIAN HOMES 0 PRESBYTERIAN HOMES 8707 SKOKIE BOULEVARD SUITE 400 SKOKIE IL 60077 471545753 LIFE PLAN COMMUNITIES IL 501(C)(3) LINE 10 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0