2023-05-05T07:57:25-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2021-07-01 521381348 ANNAPOLIS LIFE CARE INC ANNA 4102667300 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 D RAY FISHER CEO 4102667300 2023-04-27 1 D RAY FISHER 999009999 BERNADETTE DANIEL P00026171 2156433900 2023-04-24 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z GINGER COVE D RAY FISHER 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 34207968 0 X WWW.GINGERCOVE.COM X 1988 MD TO OWN AND OPERATE A CONTINUING CARE COMMUNITY FOR CONTRACT HOLDERS OF THE AGE OF 60 AND OLDER 18 18 339 75 0 0 106200 2168216 19983190 21341994 1906038 1353740 95927 185021 22091355 25048971 0 0 0 0 11252973 10575177 0 0 0 13697603 14911275 24950576 25486452 -2859221 -437481 111044100 106144465 166660399 165983837 -55616299 -59839372 OUR VISION - A PREMIER LIFE-CARE COMMUNITY COMMITTED TO QUALITY. OUR MISSION - TO PROVIDE RESIDENTS AN ABUNDANT LIFE. OUR VALUES - RESIDENT INDEPENDENCE, DIGNITY, SECURITY, STAFF EXCELLENCE, BUSINESS INTEGRITY, AND FISCAL PRUDENCE. 0 0 14490926 0 14301677 ANNAPOLIS LIFE CARE, INC. OPERATES A LIFE-CARE COMMUNITY WHICH OFFERS THREE LEVELS OF CARE. THESE CONSIST OF INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING.INDEPENDENT LIVING - THE ORGANIZATION PROVIDES HOUSING FOR CERTAIN CONTRACT HOLDERS, HEALTH CARE, AND RECREATIONAL ACTIVITIES FOR SENIOR CITIZENS WHO ARE STILL ABLE TO MAINTAIN AN ACTIVE LIFESTYLE. THERE WERE 231 INDEPENDENT LIVING UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 83.9%. 4462738 0 4405873 SKILLED NURSING - THE ORGANIZATION HAS A 55-BED COMPREHENSIVE CARE COMMUNITY HEALTH CENTER FOR RESIDENTS WHO REQUIRE A HIGH LEVEL OF SKILLED NURSING ASSISTANCE. TEMPORARY AND PERMANENT CARE DAYS TOTALED 12,381. 2668129 0 2634444 ASSISTED LIVING - THIS PROGRAM IS FOR SENIOR CITIZENS WHO MAY NEED ADDITIONAL HELP TO MAINTAIN A HEALTHY LIFESTYLE BUT WHO DO NOT REQUIRE SKILLED NURSING. THE ORGANIZATION HAS 50 UNITS FOR ASSISTED LIVING, 15 MEMORY CARE UNITS, AND 6 BEDS IN THE HEALTH CENTER WHICH PROVIDED A TOTAL OF 17,850 LIFE CARE DAYS. 21621793 1 1 0 1 0 0 0 0 0 0 1 1 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 0 0 0 0 1 1 1 1 0 0 1 82 0 339 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X MARY BETH HOLLY 4102248139 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 WILLIAM M HOLMAN CEO TO DEC 2021 40.00 0.00 X 290553 0 27149 PHYLLIS BOULDEN ADMINISTRATOR 40.00 0.00 X 176037 0 19133 VICKY MIRANDA SR. DIR. HUMAN RESOURCES 40.00 0.00 X 152250 0 14560 MARY BETH HOLLY FINANCE DIRECTOR 40.00 0.00 X 134198 0 22633 MASERAY BAYOH-SENSIE DIRECTOR OF NURSING 40.00 0.00 X 142299 0 5286 MARIE O'SHEA MARKETING DIRECTOR 40.00 0.00 X 138340 0 7398 VIRGINIA KAMAU ASST. DIRECTOR OF NURSING 40.00 0.00 X 106642 0 21920 DIVINE ESSEM WELLNESS NURSE 40.00 0.00 X 109190 0 12896 D RAY FISHER CEO AS OF FEB 2022 40.00 0.00 X 0 0 0 WILLIAM STUDEMAN PRESIDENT 5.00 0.00 X X 0 0 0 DANIEL BOWLER VICE PRESIDENT 5.00 2.00 X X 0 0 0 SUSAN WARD TREASURER 5.00 0.00 X X 0 0 0 KATHLEEN MORRISON SECRETARY 5.00 0.00 X X 0 0 0 PATRICIA BERTSCHE DIRECTOR 2.00 0.00 X 0 0 0 KAREN COFFMAN DIRECTOR 2.00 0.00 X 0 0 0 FREDERICK FRANKE DIRECTOR 2.00 0.00 X 0 0 0 MARGARET JACKSON DIRECTOR 2.00 0.00 X 0 0 0 CHERYL KAMINSKA DIRECTOR 2.00 0.00 X 0 0 0 JIM KOEHR DIRECTOR 2.00 0.00 X 0 0 0 MICHAEL LORD DIRECTOR 2.00 0.00 X 0 0 0 SANDRA MAYO DIRECTOR 2.00 0.00 X 0 0 0 PETER ODENWALD DIRECTOR 2.00 0.00 X 0 0 0 ROY PATTERSON DIRECTOR 2.00 0.00 X 0 0 0 ROBERT PETTY DIRECTOR 2.00 2.00 X 0 0 0 JULIE RHODOVI DIRECTOR 2.00 0.00 X 0 0 0 ROBERT SHERER DIRECTOR 2.00 2.00 X 0 0 0 EDWARD WALLACE DIRECTOR 2.00 0.00 X 0 0 0 1249509 0 130975 9 0 1 0 FLIK LIFESTYLES LLC 2400 YORKMONT ROAD CHARLOTTE NC 28217 DINING SERVICES 2045962 WAVERLY CONSTRUCTION & MANAGEMENT INC 1515 SULPHUR SPRING RD BALTIMORE MD 21227 CONSTRUCTION 1560671 SELECT REHABILITATION INC PO BOX 71985 CHICAGO IL 606941985 THERAPY SERVICES 1387043 WF HAISLIP JR CONSTRUCTION 807 GOVERNORS BRIDGE RD DAVIDSONVILLE MD 21035 CONSTRUCTION 407683 BRIGHTVIEW LANDSCAPES LLC PO BOX 740655 ATLANTA GA 303740655 LANDSCAPING 290328 17 67962 2072300 27954 2168216 RESIDENT SERVICE FEES 621610 18084588 18084588 HEALTH CENTER FEES 621610 2261411 2261411 ENTRANCE FEES EARNED 621610 995995 995995 21341994 600716 600716 34783 1500 33283 33283 33283 9865128 9112104 753024 753024 753024 41169 45393 -4224 -4224 BEAUTY/BARBER SHOP 621610 128746 128746 CATERING INCOME 621610 20074 20074 GUEST MEALS 621610 7142 7142 155962 25048971 21341994 0 1538761 694298 694298 7133290 6779865 353425 118399 88222 30177 1984017 1571538 412479 645173 589715 55458 115466 115466 80768 80768 2427 2427 105029 105029 2282371 2185580 96791 403340 403340 442721 400273 42448 11124 11124 2165861 1568939 596922 11301 10171 1130 1873865 1873865 3969456 3969456 262631 262631 FOOD 1247746 1247746 MAINTENANCE AND REPAIR 1057052 841341 215711 MEDICAL SUPPLIES 264585 252547 12038 DUES, LICENSES, FEES 128669 6992 121677 486863 235543 251320 25486452 21621793 3864659 0 3534387 4973245 1083016 3996069 4034557 708043 237523 231805 796335 297858 127964162 60480176 68478238 67483986 20074694 19157427 10349360 6815035 2342337 2029278 113653 451719 111044100 106144465 3237934 3215381 93870591 101120141 46682030 45721030 2071800 20798044 15927285 166660399 165983837 X -57352773 -61483941 1736474 1644569 -55616299 -59839372 111044100 106144465 X -437481 -4417240 631648 X 0 1 X 1 0 X 772688 385592 1384281 106200 2168216 4816977 19610281 20923250 21020734 19983190 21341994 102879449 246012 205694 213840 140526 197131 1003203 20628981 21514536 22618855 20229916 23707341 108699629 814112 437340 1192458 413849 469853 3327612 0 814112 437340 1192458 413849 469853 3327612 105372017 989972 565771 718779 619709 635499 3529730 20618 37218 57836 989972 586389 755997 619709 635499 3587566 21618953 22100925 23374852 20849625 24342840 112287195 0.93840 0.92890 0.03190 0.03990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 2427 2427 0 PART II-B, LINE 1: ANNAPOLIS LIFE CARE INC. IS A MEMBER OF THE INDUSTRY GROUPS LEADING AGE AND LIFE SPAN. THE ORGANIZATION PAID $13,800 IN MEMBERSHIP DUES TO LEADING AGE, OF WHICH 13.7% IS ALLOCATED TO LOBBYING EXPENSES, AND $9,412 IN MEMBERSHIP DUES TO LIFE SPAN, OF WHICH 5.7% IS ALLOCATED TO LOBBYING EXPENSES. 3735917 3735917 88793320 40459332 48333988 23418501 11774962 11643539 10214051 8245882 1968169 1802373 1802373 67483986 COLLINS CAPITAL LOW VOLATILITY PERFORMANCE LTD. II SPECIAL INVESTMENTS 30032 F WMS PARTNERS INCOME OPPORTUNITY FUND B, LLC 47591 F MERCER STRATEGIC SOLUTIONS LLC INTERNATIONAL EQUITIES SERIES 5100650 F HARVEST EDGE GLOBAL RISK PREMIA EQUITY, LP 1155519 F WELLINGTON TRUST CO CTF ENDURING ASSET 481243 F 6815035 WAIT LIST AND ENTRANCE FEE DEPOSITS 1076236 INTEREST RATE SWAP AGREEMENTS 1975049 ESTIMATED OBLIGATION TO PROVIDE FUTURE SERVICES 12876000 15927285 X 21264879 -4417240 631648 -3785592 25050471 -1500 -1500 25048971 25487952 1500 1500 25486452 0 25486452 PART X, LINE 2: THE CORPORATION IS A NONPROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES ON RELATED ACTIVITIES PURSUANT TO SECTION 509(A) OF THE INTERNAL REVENUE CODE. THE CORPORATION FOLLOWS THE PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A COMPANY'S FINANCIAL STATEMENTS, INCLUDING NONPROFIT CORPORATIONS, AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE STANDARDS ALSO PROVIDE GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. MANAGEMENT HAS DETERMINED THAT THIS STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST OF SUBSIDIARY -313,059. UNREALIZED GAIN ON INTEREST RATE SWAP 6,232,870. CHANGE IN FUTURE SERVICE OBLIGATION -5,288,163. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES -1,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 1,500. X X X X 0 1 0 0 0 0 0 1 0 WILLIAM M HOLMAN CEO TO DEC 2021 263933 0 26620 0 0 0 8078 0 19071 0 317702 0 0 0 PHYLLIS BOULDEN ADMINISTRATOR 167296 0 8741 0 0 0 5270 0 13863 0 195170 0 0 0 VICKY MIRANDA SR. DIR. HUMAN RESOURCES 145000 0 7250 0 0 0 4392 0 10168 0 166810 0 0 0 MARY BETH HOLLY FINANCE DIRECTOR 127198 0 7000 0 0 0 2788 0 19845 0 156831 0 0 0 SCHEDULE J, PART I, LINE 4B: THE FOLLOWING EMPLOYEES PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: WILLIAM M. HOLMAN, CEO - $11,000 EMPLOYEE CONTRIBUTION PHYLLIS BOULDEN, ADMINISTRATOR - $6,500 EMPLOYEE CONTRIBUTION SCHEDULE J, PART I, LINE 7: THE CEO AND OTHER KEY EMPLOYEES ESTABLISH GOALS AND OBJECTIVES FOR THE UPCOMING YEAR. THESE GOALS AND OBJECTIVES ARE REVIEWED ANNUALLY BY THE BOARD FOR THE CEO AND BY EACH KEY EMPLOYEES' DIRECT SUPERVISOR. THE ACCOMPLISHMENT OF THESE GOALS IS TAKEN INTO CONSIDERATION WHEN DETERMINING BONUSES. THE BONUS RANGE IS 3% TO 7% OF SALARY FOR DIRECTORS. THERE IS NOT A RANGE FOR THE CEO AS THE AMOUNT IS NEGOTIATED IN THE ANNUAL CONTRACT AND DEPENDS ON GOALS MET. ALL COMPENSATION ADJUSTMENTS ARE MEASURED AGAINST INDUSTRY STANDARDS TO ENSURE COMPENSATION IS SET WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. (CONTINUED ON NEXT PAGE) FOR EACH EMPLOYEE LISTED ON FORM 990, PART VII, THIS BONUS IS INCLUDED IN THE 2021 W-2 AS FOLLOWS: WILLIAM M. HOLMAN, CEO - $26,620 PHYLLIS BOULDEN, ADMINISTRATOR - $8,741 VICKY MIRANDA, SR. DIR. HUMAN RESOURCES - $7,250 MARY BETH HOLLY, FINANCE DIRECTOR - $7,000 MASERAY BAYOH-SENSIE, DIRECTOR OF NURSING - $6,605 AMOUNT FROM THE EMPLOYEE APPRECIATION FUND FROM THE ANNAPOLIS LIFE CARE RESIDENTS' CLUB REPORTED AS BONUS AND INCLUDED IN THE 2021 W-2: DIVINE ESSEM, WELLNESS NURSE - $2,355 A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2018-08-21 38981000 REFUND 9/17/2014 BONDS 0 0 0 B MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY 520936091 2018-08-21 10000000 NEW CONSTRUCTION 0 0 0 A 2655000 38981000 331211 38649789 2019 1 0 1 1 B 317000 10000000 10000000 2020 1 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 1 0 1 B 0 1 1 1 0 0.00000 0.00000 0.00000 1 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART II, LINE 14: THE 8/21/2018 TAX-EXEMPT BOND WAS ISSUED IN PART TO REFUND THE 9/17/2014 BOND. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE ELECTED OFFICERS OF THE BOARD OF DIRECTORS PLUS THE DIRECTORS SERVING AS CHAIRPERSONS OF THE FINANCE AND AUDIT COMMITTEE, THE COMMITTEE ON GOVERNANCE AND DIRECTORS, AND THE PLANNING OVERSIGHT COMMITTEE. THE EXECUTIVE COMMITTEE SHALL BE FULLY AUTHORIZED TO CARRY OUT ALL POWERS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD, PROVIDED THEIR ACTIONS AND DECISIONS COULD NOT REASONABLY HAVE BEEN DEFERRED UNTIL THE NEXT MEETING OF THE BOARD. ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE NEXT REGULAR OR SPECIAL MEETING OF THE BOARD OF DIRECTORS. ACTIONS OF THE EXECUTIVE COMMITTEE WHICH ARE WITHIN THE AUTHORITY OF THE EXECUTIVE COMMITTEE SHALL NOT REQUIRE RATIFICATION BY THE BOARD OF DIRECTORS, BUT ANY ACTIONS OF THE EXECUTIVE COMMITTEE MAY BE MODIFIED AT A MEETING OF THE BOARD OF DIRECTORS BY VOTE OF A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS PRESENT AND CONSTITUTING AT LEAST A QUORUM. HOWEVER, ANY SUCH MODIFICATIONS SHALL NOT AFFECT THE RIGHTS OF ANY THIRD PERSONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE CEO AND DIRECTOR OF FINANCIAL SERVICES PERFORM AN INITIAL REVIEW. THE FORM 990 IS THEN DISTRIBUTED TO ALL BOARD MEMBERS PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ANNAPOLIS LIFE CARE INC. HAS A CONFLICT OF INTEREST POLICY FOR ALL BOARD MEMBERS AND ADVISORY MEMBERS OF BOARD COMMITTEES. A CONFLICT OF INTEREST STATEMENT MUST BE UPDATED ANNUALLY. ANY ACTUAL OR POTENTIAL CONFLICTS ARE EXPECTED TO BE DISCLOSED. THE PRESIDENT AND SECRETARY OF THE BOARD AND ALL CHAIRMEN OF STANDING BOARD COMMITTEES WILL RECEIVE ALL ANNUAL CONFLICT OF INTEREST STATEMENTS. IF AN ACTUAL OR POTENTIAL CONFLICT WERE TO EXIST, THE INTERESTED PARTY WOULD ABSTAIN FROM ALL DISCUSSIONS AND DECISIONS ON THE CONFLICT. ANY TRANSACTIONS OR EVENTS THAT VIOLATE THE CONFLICT OF INTEREST POLICY MAY ALSO BE REVIEWED BY LEGAL COUNSEL. FAMILY AND BUSINESS RELATIONSHIPS WHICH MAY POSE A CONFLICT ARE EXPRESSLY CONSIDERED IN THE POLICY AND THE ANNUAL STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A FOR THE CEO, A THREE-MEMBER COMMITTEE FROM THE ANNAPOLIS LIFE CARE INC. BOARD OF DIRECTORS COMPILES RESULTS OF PERFORMANCE EVALUATIONS COMPLETED BY EACH BOARD MEMBER, REVIEWS THE CURRENT COMPENSATION STRUCTURE, REVIEWS INDUSTRY SALARY SURVEY DATA FOR THE REGION AND NATIONALLY AND MAKES RECOMMENDATIONS TO BOTH THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS FOR A ONE-YEAR CONTRACT EXTENSION. THIS PROCESS IS DOCUMENTED IN THE MINUTES AND IN THE CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE LOCATED IN THE GINGER COVE LIBRARY FOR PUBLIC REVIEW AND THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST OF SUBSIDIARY -313,059. UNREALIZED GAIN ON INTEREST RATE SWAP 6,232,870. CHANGE IN FUTURE SERVICE OBLIGATION -5,288,163. GINGER COVE HOME HEALTH CARE LLC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 521381348 HOME HEALTH CARE SERVICES MD 0 0 ANNAPOLIS LIFE CARE INC GINGER COVE FOUNDATION INC 4000 RIVER CRESCENT DRIVE ANNAPOLIS MD 21401 113656031 TO SUPPORT AFFILIATED ORGANIZATIONS MD 501(C)(3) LINE 12C, III-FI ANNAPOLIS LIFE CARE INC 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0 GINGER COVE FOUNDATION INC C 67962 CASH VALUE OF GIFT