2023-05-15T08:14:55-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 420 SOUTH ORANGE AVENUE SUITE 900 ORLANDO FL 32801 990 2021-07-01 590624420 PENNEY RETIREMENT COMMUNITY INC PENN 9042848200 PO BOX 555 PENNEY FARMS FL 320790555 TERESA SCOTT PRESIDENT 9042848200 2023-05-10 1 TERESA SCOTT 999009999 AMY CHAPMAN P00843460 4078021200 2023-05-10 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z TERESA SCOTT PO BOX 555 PENNEY FARMS FL 320790555 21961138 0 X WWW.PENNEYRETIREMENTCOMMUNITY.ORG X 1965 FL TO SERVE SENIORS WHO WISH TO RETIRE IN AN INCLUSIVE CHRISTIAN COMMUNITY. 18 18 302 325 0 0 734079 1050205 15912986 16458906 278007 531752 868354 0 17793426 18040863 150027 22200 0 0 7938269 8143110 0 0 16618 8720948 9189132 16809244 17354442 984182 686421 61971655 67339393 42344243 47793841 19627412 19545552 PENNEY RETIREMENT COMMUNITY, INC IS AN INCLUSIVE CHRISTIAN CONTINUING CARE RETIREMENT COMMUNITY SEEKING THE ABUNDANT LIFE THROUGH SOCIAL INTERACTION AND SERVICE. 0 0 15612341 22200 16458906 THE ORGANIZATION PROVIDES HOUSING, HEALTH CARE AND OTHER RELATED SERVICES THROUGH THE OPERATION OF A RETIREMENT COMMUNITY. THE COMMUNITY INCLUDES 301 APARTMENTS, COTTAGES AND HOMES, A 20-BED MEMORY CARE CENTER, 55 INDEPENDENT LIVING UNITS OFFERING ASSISTIVE SERVICES AND A LICENSED SKILLED NURSING CENTER WITH A CAPACITY OF 50 RESIDENTS. THE COMMUNITY ALSO INCLUDES RECREATIONAL AMENITIES, INCLUDING A NINE-HOLE GOLF COURSE, INDOOR SWIMMING POOL, FITNESS CENTER, ART STUDIO, CRAFT FACILITIES, LIBRARIES AND DINING FACILITIES. 15612341 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 66 0 1 302 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 X TERESA SCOTT 9042848200 PO BOX 555 PENNEY FARMS FL 320790555 TERESA D SCOTT PRESIDENT/ CEO 40.00 X 189152 0 16788 BETH A MCANALLY CFO 40.00 X 116245 0 17444 BERT VAN ROYAL CHAIRMAN 2.00 X X 0 0 0 JAMES JB RENNIGER FIRST VICE CHAIR 2.00 X X 0 0 0 RON COLEMAN SECOND VICE CHAIR 2.00 X X 0 0 0 JAMES KNIGHT TREASURER 2.00 X X 0 0 0 EVELYN DOLLY HILLMAN SECRETARY 2.00 X X 0 0 0 GERALD AGRESTI DIRECTOR 2.00 X 0 0 0 TERESA BARTON DIRECTOR 2.00 X 0 0 0 RICHARD COSTIN DIRECTOR 2.00 X 0 0 0 WILLIAM COURTNEY DIRECTOR 2.00 X 0 0 0 JIMMY LOVELACE DIRECTOR 2.00 X 0 0 0 W ROY LYONS DIRECTOR 2.00 X 0 0 0 CURRY PAJCIC DIRECTOR 2.00 X 0 0 0 SUSAN PONDER-STANSEL DIRECTOR 2.00 X 0 0 0 HELEN STEPHENSS DIRECTOR 2.00 X 0 0 0 CHERIAN THOMAS DIRECTOR 2.00 X 0 0 0 LISA VALENTINE DIRECTOR 2.00 X 0 0 0 STEVE VANDERKAMP DIRECTOR 2.00 X 0 0 0 EDWARD WHEELER DIRECTOR 2.00 X 0 0 0 305397 0 34232 2 0 1 0 STEVENSON CONSTRUCTION COINC PO BOX 1178 STARKE FL 32091 CONSTRUCTION SERVICES 1349104 CARLTON CONSTRUCTION INC 4615 US HIGHWAY 17 FLEMING ISLAND FL 32003 CONSTRUCTION SERVICES 919604 FUNCTIONAL PATHWAYS 10133 SHERRILL BLVD SUITE 200 KNOXVILLE TN 37932 PATIENT THERAPY SERVICES 793726 CHANEY'S HOME IMPROVEMENT 116 N ORANGE AVE GREEN COVE SPRINGS FL 32043 CONSTRUCTION SERVICES 343475 JAMES DEAN MASONRY INC 3750 CR 315-A GREEN COVE SPRINGS FL 32043 CONSTRUCTION SERVICES 196950 7 1050205 1050205 RESIDENT SERVICE REVENUES 623000 16095041 16095041 OTHER RESIDENT SERVICE REVENUE 623000 363865 363865 16458906 347511 347511 4104371 145 3920275 0 184096 145 184241 184241 18040863 16458906 0 531752 22200 22200 339629 339629 6298449 5733933 564516 234702 209298 25404 767083 740328 26755 503247 442812 60435 20948 20948 1436181 1344284 91897 31602 31602 110447 12905 97542 100031 50118 49913 2026448 2008934 17514 4292 2104 2188 372284 364442 7842 3116901 3059825 57076 801269 770264 31005 SUPPLIES & EQUIPMENT 441583 419034 22549 BAD DEBT EXPENSE 231586 231586 EMPLOYEE RELATED EXPENS 41280 34412 6868 FUNDRAISING EXPENSES 16618 16618 437662 397448 40214 17354442 15612341 1725483 16618 2311963 4699685 388063 568458 810643 1077125 139942 109435 37343 156837 85961576 39208074 43298644 46753502 14291961 12806951 693096 1167400 61971655 67339393 1244299 2282110 28946796 30865969 9579203 12673340 2573945 1972422 42344243 47793841 X 16754733 17744518 2872679 1801034 19627412 19545552 61971655 67339393 X 686421 -1589387 821106 X X 0 1 X 1 0 X 2347104 746643 610884 734079 1050205 5488915 12707454 13841316 14349308 15912986 16458906 73269970 15054558 14587959 14960192 16647065 17509111 78758885 0 733209 1115844 712539 1333195 899665 4794452 733209 1115844 712539 1333195 899665 4794452 73964433 308123 419995 269455 278007 347511 1623091 308123 419995 269455 278007 347511 1623091 149821 64662 287235 501718 15512502 15072616 15516882 16925072 17856622 80883694 0.91450 0.91630 0.02010 0.01950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1914111 69554 1704635 279030 1699596 214515 1914111 1654054 45542 1699596 1593951 60103 1654054 1476354 117597 1593951 1.00000 0 0 1878407 1878407 73922797 34814004 39108793 6480300 4394070 2086230 3680072 3680072 46753502 CASH & CASH EQUIVALENTS 1380765 F U.S. GOVERNMENT & AGENCY OBLIGATIONS 5237715 F DEBT SECURITIES 2502325 F MUTUAL FUNDS - EQUITY SECURITIES 3481146 F BOND FUNDS 205000 F 12806951 DEPOSITS 254400 CHARITABLE ANNUITY OBLIGATION 224466 ACCRUED GIFT BONDS 1493556 1972422 16739647 -1589387 821854 -767533 17507180 533683 533683 18040863 16961702 0 16961702 392740 392740 17354442 PART V, LINE 4: THE COMMUNITY'S SPENDING POLICY OBJECTIVE IS TO PROTECT THE VALUE AND GROW THE ENDOWMENT FUNDS TO PROVIDE FUTURE CASH FLOWS FOR OPERATIONS, GIFT BOND REDEMPTIONS AND OTHER STIPULATED PURPOSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FV OF INTEREST RATE SWAP AGREEMENT 821,854. PART XI, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS' AID FUND OF PRC, LLC - TOTAL REVENUE 204,533. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL REVENUE 329,150. PART XII, LINE 4B - OTHER ADJUSTMENTS: RESIDENTS' AID FUND OF PRC, LLC - TOTAL EXPENSES 77,981. ASSOCIATION OF PRC RESIDENTS, LLC - TOTAL EXPENSES 314,759. 1 PENNEY MEMORIAL CHURCH 4465 POLING BLVD PENNEY FARMS FL 32079 592493127 501(C)(4) 22000 0 SUPPPORT FOR FULL-TIME MINISTER 0 1 X X X 1 0 0 0 0 0 0 0 0 TERESA D SCOTT PRESIDENT/ CEO 189152 0 0 0 0 0 9458 0 7330 0 205940 0 0 0 A CLAY COUNTY DEVELOPMENT AUTHORITY 596583087 2017-12-07 13355113 SEE SUPPLEMENTARY INFOMATION 0 0 0 A 1281643 13355113 2762691 267102 10325320 2018 0 0 0 0 A 0 0 0 0 0 0 0 A 0 1 0 0 1 1 BRANCH BANKING AND TRUST COMPANY 12.000000000000 0 0 0 0 0 A 0 SCHEDULE K, ROW A, PART I(F) IN DECEMBER 2017, THE CLAY COUNTY DEVELOPMENT AUTHORITY ISSUED ON BEHALF OF THE COMMUNITY, A $12,355,113 HEALTHCRAE FACILITIES AND IMPROVEMENT REVENUE BOND, SERIES 2017 ("SERIES 2017 BOND") TO PAY FOR THE CONSTRUCTION OF A NEW 50-BED SKILLED NURSING FACILITY, TO FUND AN ESCROW ACCOUNT TO DEFEASE THE PREVIOUS BONDS, AND PAY CERTAIN COSTS OF ISSUING THE SERIES 2017 BOND. FORM 990, PART VI, SECTION B, LINE 11B PER PRC POLICY, THE BOARD CHAIRMAN WILL REVIEW THE ENTIRE FORM 990 WITH ALL BOARD MEMBERS BEFORE IT S FILED WITH THE IRS. THE CHAIRMAN WILL CONFIRM IN WRITING THAT THE 990 WAS REVIEWED. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO AFFIRM ANNUALLY IN WRITING THAT THEY ARE NOT AWARE OF ANY CONFLICTS OF INTEREST WITHIN THE ORGANIZATION. EMPLOYEES SIGN THAT THEY HAVE READ THE POLICY UPON HIRE. THE POLICY IS REVIEWED PERIODICALLY BY THE COMPLIANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S COMPENSATION POLICY REQUESTS THE PRESIDENT'S COMPENSATION BE DETERMINED BY THE DIRECTORS USING COMPARABILITY DATA GATHERED FROM OTHER RETIREMENT COMMUNTIES. ALL DIRECTORS ARE INDEPENDENT WITH REGARDS TO COMPENSATION AND THE DELIBERATION AND DECISION MAKING PROCESS IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE AT THE CORPORATE OFFICE UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 821,854. ADJUSTMENT TO PY NET ASSETS OF ASSOCATION OF PRC RESIDENTS, LLC -748. FORM 990, PART XII, LINE 2C: OVERSIGHT OF THE AUDIT: THE ORGANIZATION'S AUDIT COMMITTE IS RESPONSIBLE FOR THE SELECTION MONITORING AND EVALUATION OF AN INDEPENDENT AUDIT FIRM AND OVERSIGHT OF THE AUDIT OF ITS FINACIAL STATEMENTS. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. ASSOCIATION OF PENNEY RETIREMENT COMMUNITY RESIDENTS LLC PO BOX 555 PENNY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 329150 309259 PENNEY RETIREMENT COMMUNITY RESIDENTS' AID FUND OF PENNEY RETIREMENT COMMUNITY LLC PO BOX 555 PENNY FARMS FL 32079 SUPPORT THE RESIDENTS OF PENNEY RETIREMENT COMMUNITY FL 204533 581036 PENNEY RETIREMENT COMMUNITY