2025-01-23T13:41:06-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 10700 NORTHUP WAY SUITE 200 BELLEVUE WA 98004 990 2023-01-01 910743702 THE LUTHERAN RETIREMENT HOME OF GREATER SEATTLE LUTH 2065259666 6720 EAST GREEN LAKE WAY NORTH SEATTLE WA 98103 REGGIE MULLIS CEO 2065259666 2025-01-21 1 1 KURT BENNION CPA P01469618 4252506100 2025-01-21 2023 2024-10-15 13:58:12Z X THE HEARTHSTONE REGGIE MULLIS 6720 EAST GREEN LAKE WAY NORTH SEATTLE WA 98103 26065599 0 9386 X WWW.HEARTHSTONE.ORG X 1961 WA PROMOTE INDEPENDENCE, HEALTH, SECURITY, PURPOSE AND BELONGING IN LIFE FOR ADULTS AGE 62 PLUS. 10 10 254 11 0 0 92861 3036263 18849707 18648801 1311466 1922325 231034 260615 20485068 23868004 331998 285364 0 0 11431749 12570707 0 0 133338 11724097 12294559 23487844 25150630 -3002776 -1282626 75646397 75129230 74297506 74498482 1348891 630748 X SEE SCHEDULE OTHE HEARTHSTONE, A LIFE PLAN COMMUNITY, A SEATTLE LANDMARK SINCE 1966, IS WELL REGARDED FOR COMFORT, HEALTH AND SENIOR WELLNESS. OUR GOAL IS TO PROVIDE A FULL RANGE OF OPTIONS WITH 162 INDEPENDENT LIVING APARTMENTS, 36 ASSISTED LIVING APARTMENTS, 12 MEMORY CARE APARTMENTS, AND CAN ACCOMODATE 40 RESIDENTS IN OUR HEALTH CARE CENTER WITH 24-HOUR NURSING CARE. THE HEARTHSTONE ALSO PROVIDES DAILY ACTIVITIES, THREE MEALS A DAY, REHABILITATION SERVICES FOR WELLNESS TO RECOVERY, AND HOSPICE SERVICES. THE CHAPEL IS OPEN FOR WEEKLY VESPER SERVICES, MUSIC RECITALS BY LOCAL STUDENTS, AND BOARD MEETINGS FOR OTHER NOT-FOR-PROFIT BUSINESSES. THROUGH DONATIONS, THE HEARTHSTONE PROVIDES FINANCIAL ASSISTANCE TO RESIDENTS WHO HAVE OUTLIVED THEIR ASSETS WHILE LIVING INDEPENDENTLY OR IN ASSISTED LIVING. THE HEARTHSTONE'S HEALTH CARE CENTER IS ALSO AVAILABLE FOR NON-HEARTHSTONE RESIDENTS AGE 62 AND OVER NEEDING SHORT-TERM REHABILITATION SERVICES. 0 0 20774807 285364 18900966 THE HEARTHSTONE OWNS AND OPERATES A LIFE PLAN COMMUNITY ("LAKESIDE") LOCATED IN SEATTLE, WASHINGTON, THAT INCLUDES 112 INDEPENDENT LIVING APARTMENTS, A SECOND FACILITY ("COVE WEST") THAT INCLUDES 28 INDEPENDENT LIVING APARTMENTS, AND A THIRD FACILITY ("COVE EAST") WITH 22 INDEPENDENT LIVING APARTMENTS. LAKESIDE ALSO INCLUDES A 40-BED NURSING CARE FACILITY, A 36-UNIT ASSISTED LIVING AREA, AND 12 MEMORY CARE APARTMENTS. 20774807 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 78 0 254 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X PETER SCHULTZ 2065259666 6720 E GREEN LAKE WAY N SEATTLE WA 98103 LEE COHRS CHAIR THEN SECRETARY 1.00 X X 0 0 0 CAITLIN GRANT CPA VICE CHAIR THEN CHAIR (THROUGH OCT 2023) 1.00 X X 0 0 0 HARRY EDMON SECRETARY THEN VICE CHAIR 1.00 X X 0 0 0 DOUG CUSTER CFP CAP TRUSTEE THEN INTERIM CHAIR 1.00 X X 0 0 0 KARRIN DANIELS TRUSTEE 1.00 X 0 0 0 TERI HIGBY CPA TRUSTEE 1.00 X 0 0 0 DR ANN MELVIN TRUSTEE 1.00 X 0 0 0 MIKE OLDEN TRUSTEE 1.00 X 0 0 0 KARI RALLO TRUSTEE 1.00 X 0 0 0 CAROL REDFIELD TRUSTEE 1.00 X 0 0 0 REV ELISE SCOTT TRUSTEE 1.00 X 0 0 0 REGGIE MULLIS CHIEF EXECUTIVE OFFICER 40.00 X 268017 0 82748 ROSIE VELASCO CHIEF HEALTH CARE OFFICER 40.00 X 212210 0 44318 JACK MCKITTRICK CHIEF FINANCIAL OFFICER 40.00 X 146501 0 48812 JEREMIAS RAMIREZ REGISTERED NURSE 40.00 X 175006 0 45416 EMILIANA CUPAT DIRECTOR OF NURSING 40.00 X 122583 0 54625 ANTHONY BAE LICENSED PRACTICAL NURSE 40.00 X 115287 0 28790 NIDA MOUSER MDS COORDINATOR 40.00 X 114515 0 19572 JILL BOLTMANN DIRECTOR OF SALES 40.00 X 117989 0 38325 1272108 0 362606 11 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 15251 DINING & MAINTENANCE MANAGEMENT 2137075 NAIVAS STAFFING AGENCY 109 S DIVISION STREET APT 636 AUBURN WA 98001 STAFFING SERVICES 329374 CONSONUS REHAB PO BOX 4800 PORTLAND OR 972084800 REHAB THERAPY 260846 3 2994240 42023 3036263 RESIDENTS' MONTHLY FEES 623000 10489548 10489548 ENTRANCE FEE AMORTIZATION 623000 4442571 4442571 HEALTH CARE SERVICES 623000 3716682 3716682 18648801 454280 454280 8450 0 8450 8450 8450 3613687 51953 2197595 0 1416092 51953 1468045 1468045 MEAL REVENUES 722210 184741 184741 MISCELLANEOUS INCOME 900099 67424 67424 252165 23868004 18900966 0 1930775 500 500 284864 284864 607293 607293 9310644 8203070 1046843 60731 288375 253436 33063 1876 1475564 1330902 134809 9853 888831 744688 138630 5513 715221 715221 35047 35047 109128 109128 121577 121577 1186549 705526 481023 83112 75335 7732 45 22404 20308 2084 12 24991 22653 2325 13 1342811 1217872 124222 717 33440 30311 3111 18 25986 23554 2418 14 1737163 1441211 242726 53226 3842732 3196440 646292 315725 118233 197492 FOOD 1027146 931033 95561 552 SUPPLIES 645236 584860 60030 346 EQUIPMENT MAINTENANCE 348404 315803 32414 187 LICENSES 175376 158966 16316 94 502511 400021 102349 141 25150630 20774807 4242485 133338 701365 32642 275015 18191 539614 1005592 176221 176221 187317 229768 95578174 41978823 56306010 53599351 17460855 17073225 0 2994240 75646397 75129230 2317064 2870805 25981609 26991288 34582300 34091588 10216533 9214347 1200000 1330454 74297506 74498482 X 1239550 508580 109341 122168 1348891 630748 75646397 75129230 X -1282626 859129 -294646 X X 0 1 X 1 0 X 83550 569618 1741115 92861 3036263 5523407 16978145 19599023 18084095 18849707 18648801 92159771 17061695 20168641 19825210 18942568 21685064 97683178 200 200 0 200 200 97682978 944389 787690 1219209 550207 462730 3964225 944389 787690 1219209 550207 462730 3964225 223122 125417 151807 227522 252165 980033 18229206 21081748 21196226 19720297 22399959 102627436 0.95180 0.95160 0.03860 0.04650 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MEAL REVENUES MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 545 545 0 PART II-B, LINE 1: THE HEARTHSTONE PAYS MEMBERSHIP DUES TO LEADINGAGE NATIONAL AND LEADINGAGE WASHINGTON, A PORTION OF WHICH ARE USED FOR LOBBYING. 0 1 X 8023820 8023820 74811614 31312882 43498732 12558331 10665941 1892390 184409 184409 53599351 LAND PAYABLE - REMEDIATION OBLIGATION 1330454 1330454 23694474 0 23694474 121577 51953 173530 23868004 24977100 0 24977100 121577 51953 173530 25150630 PART IV, LINE 2B: THE ORGANIZATION HOLDS WAIT LIST DEPOSITS FOR INDIVIDUALS WHO WANT TO ACCESS FUTURE ENTRANCE TO THE FACILITY. THE DEPOSITS ARE RETURNED TO INDIVIDUALS WHO WISH TO REMOVE THEMSELVES FROM THE WAIT LIST. WHILE BEING HELD, THE FUNDS ARE INVESTED. THE ORGANIZATION HOLDS PARTIALLY REFUNDABLE ENTRANCE FEES FOR RESIDENTS LIVING IN OUR FACILITY. DEPENDING ON THE ENTRANCE FEE CONTRACT EACH RESIDENT USES, 90%, 80%, 50% OR 0% OF THEIR FEES WILL EVENTUALLY BE REFUNDED TO THE RESIDENT OR THEIR ESTATE. IN ADDITION, AN INDIVIDUAL CAN RECEIVE A PARTIAL REFUND OF THEIR ENTRANCE FEE IF THEY LEAVE THE FACILITY WITHIN FOUR YEARS OF ENTRANCE. WHILE BEING HELD, FUNDS ARE INVESTED. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF ASSETS 51,953. PART XII, LINE 4B - OTHER ADJUSTMENTS: GAIN ON DISPOSAL OF ASSETS 51,953. 1 RESIDENT ASSISTANCE 6 284864 PART I, LINE 2: THE ORGANIZATION PROVIDES SERVICES TO RESIDENTS WHO HAVE EXHAUSTED THEIR FINANCIAL RESOURCES. ASSISTANCE IS PROVIDED TO HELP COVER ROOM AND BOARD, MEDICAL CARE, AND PRESCRIPTIONS. THE AMOUNT REPORTED AS GRANTS CONSTITUTES THE VALUE OF THESE SERVICES. X X X X 0 0 0 0 0 0 0 0 0 REGGIE MULLIS CHIEF EXECUTIVE OFFICER 268017 0 0 0 0 0 7652 0 75096 0 350765 0 0 0 ROSIE VELASCO CHIEF HEALTH CARE OFFICER 212210 0 0 0 0 0 6464 0 37854 0 256528 0 0 0 JEREMIAS RAMIREZ REGISTERED NURSE 175006 0 0 0 0 0 8855 0 36561 0 220422 0 0 0 JACK MCKITTRICK CHIEF FINANCIAL OFFICER 146501 0 0 0 0 0 2285 0 46527 0 195313 0 0 0 EMILIANA CUPAT DIRECTOR OF NURSING 122583 0 0 0 0 0 4394 0 50231 0 177208 0 0 0 JILL BOLTMANN DIRECTOR OF SALES 117989 0 0 0 0 0 2860 0 35465 0 156314 0 0 0 A WASHINGTON STATE HOUSING FINANCE COMMISSION 911874730 939783WS1 2018-06-28 45700955 REFUND SERIES 2013 BONDS; DEVELOP, CONSTRUCT AND EQUIP FACILITIES 0 0 0 A 2405000 45700955 1072000 20487000 24219464 2019 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: WASHINGTON STATE HOUSING FINANCE COMMISSION DATE THE REBATE COMPUTATION WAS PERFORMED: 02/29/2024 AMENDED FORM 990: THE 2023 FORM 990 IS BEING AMENDED TO MATCH THE ISSUED AUDITED FINANCIAL STATEMENTS. THE FOLLOWING PARTS, LINES, ETC., ARE IMPACTED BY THE AMENDMENT. - FORM 990, PAGE 1, BLOCK G - FORM 990, PART I, LINES 8, 12, 15, 17, 19-20 AND 22 - FORM 990, PART III, LINES 4A AND 4E - FORM 990, PART IV, LINE 2 - FORM 990, PART VIII, LINES 1E, 1H AND 12 - FORM 990, PART IX, LINES 7-10, 11G-14, 16-17, 19-20 AND 22-25 - FORM 990, PART X, LINES 15-16, 27 AND 32-33 - FORM 990, PART XI, LINES 1, 3 AND 10 - SCHEDULE A, PART III, LINES 1-2, 6, 8-9, 12-13, 15 AND 17 - SCHEDULE B - SCHEDULE D, PART XI, LINES 1, 3 AND 5 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION UTILIZED SODEXO TO PROVIDE DINING SERVICES AND MAINTENANCE SERVICES, INCLUDING MANAGEMENT. FORM 990, PART VI, SECTION A, LINE 4 THE ARTICLES OF INCORPORATION WERE AMENDED IN FEBRUARY 2023 TO CHANGE THE ACCEPTABLE NUMBER OF TRUSTEES FROM "UP TO 15 MEMBERS" TO "10 TO 15 MEMBERS". FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERSHIP IS MADE UP OF BETWEEN EIGHT AND FIFTEEN CONGREGATIONS FROM THE NORTHWEST WASHINGTON SYNOD OF THE EVANGELICAL LUTHERAN CHURCH OF AMERICA AND THE NORTHWEST DISTRICT, LUTHERAN CHURCH - MISSOURI SYNOD (COLLECTIVELY, THE "JURISDICTIONAL UNITS"). CONGREGATIONS, AT LEAST TWO OF WHICH SHALL COME FROM EACH OF THE JURISDICTIONAL UNITS, ARE ADMITTED TO MEMBERSHIP UPON APPLICATION APPROVED BY A MAJORITY OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT ALL FULL-TERM BOARD POSITIONS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS REVIEWED BY THE HEARTHSTONE'S ACCOUNTING MANAGER, CFO AND THE BOARD OF TRUSTEE'S AUDIT AND FINANCE COMMITTEE. ALL OTHER BOARD MEMBERS WERE PROVIDED A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C KEY MANAGERS AND BOARD MEMBERS ARE REQUIRED TO SIGN STATEMENTS ANNUALLY. BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS IMMEDIATELY AS THEY ARISE. BOTH MANAGEMENT AND THE BOARD ARE SENSITIVE TO THIS ISSUE AND ARE EXPECTED TO CONTINUOUSLY MONITOR SITUATIONS FOR POSSIBLE CONFLICTS. AN INDIVIDUAL WITH A CONFLICT OF INTEREST IS ALLOWED TO ANSWER QUESTIONS BUT IS NOT PERMITTED TO VOTE ON THE MATTER. THE STATEMENTS ARE REVIEWED EACH YEAR AS PART OF CORPORATE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15A THE CEO'S COMPENSATION WAS SET USING THE FOLLOWING PROCESS WHEN THE CEO WAS HIRED IN 2021. THE CHIEF HUMAN RESOURCES OFFICER PROVIDED A REPORT TO THE CHAIR OF THE BOARD OF TRUSTEES USING DATA FROM COMPENSATION SURVEYS, AS WELL AS THE CPI FOR THE SEATTLE AREA, TO DETERMINE AN APPROPRIATE SALARY RANGE FOR THE CEO. THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWED THE REPORT AND MADE A RECOMMENDATION TO THE FULL BOARD. THE BOARD COMPARED SALARIES WITH SIMILAR ORGANIZATIONS AND MADE THE FINAL DECISION ON CEO COMPENSATION. ANNUAL INCREASES ARE DETERMINED BY THE BOARD BASED ON ANNUAL PERFORMANCE EVALUATIONS. THE CHIEF HUMAN RESOURCES OFFICER PROVIDES A REPORT USING DATA FROM COMPENSATION SURVEYS, AS WELL AS THE CPI FOR THE SEATTLE AREA, TO DETERMINE AN APPROPRIATE SALARY RANGE FOR THE OTHER OFFICERS AND KEY EMPLOYEES. THE REPORT IS REVIEWED AND DISCUSSED BY THE ADMINISTRATOR, CFO AND CEO. THE CEO MAKES THE FINAL DECISION FOR COMPENSATION AMOUNTS. ANNUAL INCREASES ARE BASED ON ANNUAL PERFORMANCE EVALUATIONS. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE UPON WRITTEN REQUEST AND ON THIRD-PARTY WEBSITES SUCH AS GUIDESTAR AND PROPUBLICA. THE FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATION'S BUSINESS OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN LAND REMEDIATION PAYABLE ESTIMATE -294,646. FORM 990, PART XII, LINE 2C: THE PROCESS FOR SELECTING THE FINANCIAL STATEMENT AUDITOR AND FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT DID NOT CHANGE DURING THE YEAR.