2023-10-02T11:11:05-05:00 2022-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2022-01-01 222229486 MEADOWOOD CORPORATION MEAD 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 PAUL NORDEMAN PRESIDENT/CEO 6105841000 2023-10-02 1 PAUL NORDEMAN 999009999 0 KERRI N BOGDA CPA P00760402 7177404863 2023-10-02 X 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PAUL NORDEMAN 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 43847853 0 X WWW.MEADOWOOD.NET X 1983 PA TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. 14 13 519 45 0 0 7512113 860908 34438289 40425845 978358 145805 12504 1056697 42941264 42489255 113613 155397 0 0 16120836 17594941 0 0 14472 24542573 27147376 40777022 44897714 2164242 -2408459 160208688 160859066 170656657 176037355 -10447969 -15178289 X MEADOWOOD IS COMMITTED TO PROVIDE THE HIGHEST QUALITY OF LIFE FOR ALL WHO EXPERIENCE THE MEADOWOOD COMMUNITY. 0 0 39271882 155397 40425845 TO OPERATE 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 19,800 ASSISTED LIVING DAYS OF 13,317, MEMORY CARE 2,495 AND INDEPENDENT LIVING DAYS OF 114,237. ALSO, THE HOME HEALTH AGENCY PERFORMED 1005 VISITS DURING 2022.CONTINUED ON SCHEDULE O.HEALTHCARE SERVICE - 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 EXPENSES. PROVIDE SECURITY, TRANSPORTATION, AND OTHER SERVICES AS NEEDED. DINING SERVICES - PROVIDE DAILY MEALS TO RESIDENTS, PROVIDE FOR SPECIAL DIETARY NEEDS OF RESIDENTS AND SPECIAL FUNCTIONS REQUESTED BY RESIDENTS. PROVIDE COFFEE SHOP FOR RESIDENTS, STAFF AND GUESTS. 39271882 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 36 0 519 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X WANDA MANN CONTROLLER 6105841000 3205 SKIPPACK PIKE PO BOX 670 WORCESTER PA 19490 BRUCE J MCKENNEY CHAIR 2.00 0.00 X X 0 0 0 EUGENE D DOLLOFF VICE-CHAIR 2.00 0.00 X X 0 0 0 JAMES R BEAM SECRETARY 2.00 0.00 X X 0 0 0 JEREMY C BRENN TREASURER 2.00 0.00 X X 0 0 0 PAUL NORDEMAN PRESIDENT/CEO 40.00 0.00 X X 508999 0 42371 WILLIAM D BLACK DIRECTOR 2.00 0.00 X 0 0 0 HELENE BOCLAIR DIRECTOR 2.00 0.00 X 0 0 0 LAWRENCE W DESSEN DIRECTOR 2.00 0.00 X 0 0 0 W BRUCE FRETZ DIRECTOR 2.00 0.00 X 0 0 0 MARY LINDNER DIRECTOR 2.00 0.00 X 0 0 0 BARBARA H OST DIRECTOR 2.00 0.00 X 0 0 0 JEFFREY S RIEDER DIRECTOR 2.00 0.00 X 0 0 0 MARK STRASBURG DIRECTOR 2.00 0.00 X 0 0 0 ILENE WARNER-MARON DIRECTOR 2.00 0.00 X 0 0 0 H DRAKE WILLIAMS JR DIRECTOR (UNTIL 06/30/2022) 2.00 0.00 X 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 40.00 0.00 X 234241 0 20375 REGINA FARRELL VP OF HEALTH CENTER 40.00 0.00 X 204937 0 14138 MARLON BACK VP OF MAINTENANCE 40.00 0.00 X 187111 0 7874 BARBARA FRITZINGER VP OF HUMAN RESOURCES 40.00 0.00 X 173837 0 19945 NICK BALL SALES REPRESENTATIVE 40.00 0.00 X 149885 0 5995 JOHN KOTSATSO MARKETING SALES REP. 40.00 0.00 X 157612 0 4428 1616622 0 115126 16 0 1 0 MOSSREHAB 60 E TOWNSHIP LINE ROAD ELKINS PARK PA 19027 THERAPY SERVICES 731544 UNIDINE CORPORATION PO BOX 102289 ATLANTA GA 30368 DINING SERVICES 622873 TJ'S OUTDOOR MAINTENANCE PO BOX 1253 SKIPPACK PIKE PA 19474 LANDSCAPING 525732 PROMARK 1040 CEDAR MEADOW LANE GREEN LANE PA 18054 PAINTING 396815 WILLIAMS ELECTRIC 418 S STONE RIDGE DRIVE LANSDALE PA 19446 ELECTRICIAN 236000 7 22232 18058 820618 860908 NET RESIDENT SERVICE REVENUE 623000 32059000 32059000 AMORTIZATION OF ENTRANCE FEES 623000 8366845 8366845 40425845 522803 522803 13416 13416 44555 86184 -41629 -41629 -41629 872552 1872 1036761 228077 -164209 -226205 -390414 -390414 11387 22232 7576 3811 3811 INSURANCE PROCEEDS 524298 1094515 1094515 1094515 42489255 40425845 0 1202502 155397 155397 805986 805986 13683394 12057709 1625685 372611 276267 96344 1682943 1568651 114292 1050007 882348 167659 42012 42012 18818 18818 93475 93475 99341 99341 2221415 1789470 431945 508416 508416 1304230 1115934 188296 560290 560290 2440858 2440858 115810 84781 31029 83463 22818 60645 3160120 3160120 11038262 11038262 396544 396544 FOOD & BEVERAGES 1830996 1815139 15857 REPAIRS & MAINTENANCE 1728085 1661827 66258 MEDICAL SUPPLIES 513957 513957 EMPLOYEE APPRECIATION 418047 63944 354103 573237 227856 330909 14472 44897714 39271882 5611360 14472 2980415 4576930 6682871 14324237 3440763 2553971 245924 251156 1029329 1182998 216525806 111758404 100253403 104767402 45575983 33202372 160208688 160859066 5474194 3893668 65654414 71457324 72900412 71431996 437943 302459 26189694 28951908 170656657 176037355 X -14377357 -16243356 3929388 1065067 -10447969 -15178289 160208688 160859066 X -2408459 -3396197 1074336 X 0 1 X 1 0 X 315438 432023 1648431 7512113 860908 10768913 30243784 30940613 33377658 34438289 40425845 169426189 30559222 31372636 35026089 41950402 41286753 180195102 0 0 0 180195102 538435 910064 615902 555903 580774 3201078 538435 910064 615902 555903 580774 3201078 22077 105800 2697 1094515 1225089 31119734 32388500 35644688 42506305 42962042 184621269 0.97600 0.98190 0.01730 0.01730 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: REBATES CREDITS - 2018 AMOUNT: $ 3,883. 2019 AMOUNT: $ 6. INSURANCE PROCEEDS - 2018 AMOUNT: $ 18,117. 2022 AMOUNT: $ 1,094,515. BENEVOLENT FUNDS - 2019 AMOUNT: $ 102,776. MISCELLANEOUS - 2018 AMOUNT: $ 77. 2019 AMOUNT: $ 3,018. 2020 AMOUNT: $ 2,697. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2966001 2966001 180228277 95270330 84957947 26465155 13944997 12520158 6866373 2543077 4323296 104767402 REFUNDABLE DEPOSITS 1064965 REFUNDABLE ENTRY FEES 27686990 FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 199953 28951908 40053810 -3396197 866992 -2529205 42583015 -93760 -93760 42489255 44784130 93760 93760 44690370 207344 207344 44897714 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 1,074,336. BENEVOLENT CARE AND MONTHLY FEE SUBSIDY FOR RESIDENTS -155,397. EMPLOYEE DISCOUNT NETTED AGAINST REVENUE ON FINANCIALS -51,947. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -86,184. FUNDRAISING EXPENSES -7,576. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 86,184. FUNDRAISING EXPENSES 7,576. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEVOLENT CARE AND MONTHLY FEE SUBSIDY FOR RESIDENTS 155,397. EMPLOYEE DISCOUNT NETTED AGAINST REVENUE ON FINANCIALS 51,947. ART SHOW 33619 22232 11387 1550 6026 33619 22232 11387 1550 6026 7576 3811 1 BENEVOLENT CARE AND MONTHY FEE SUBSIDIES 5 155397 0 PART I, LINE 2: 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 0 0 0 0 0 0 0 1 0 PAUL NORDEMAN PRESIDENT/CEO 427224 0 81775 0 0 0 18300 0 24071 0 551370 0 0 0 STEVEN WISNIEWSKI VP OF FINANCE/CFO 222241 0 12000 0 0 0 9212 0 11163 0 254616 0 0 0 REGINA FARRELL VP OF HEALTH CENTER 194937 0 10000 0 0 0 8204 0 5934 0 219075 0 0 0 MARLON BACK VP OF MAINTENANCE 175111 0 12000 0 0 0 7037 0 837 0 194985 0 0 0 BARBARA FRITZINGER VP OF HUMAN RESOURCES 163837 0 10000 0 0 0 11741 0 8204 0 193782 0 0 0 JOHN KOTSATSO MARKETING SALES REP. 147612 0 10000 0 0 0 0 0 4428 0 162040 0 0 0 NICK BALL SALES REPRESENTATIVE 149885 0 0 0 0 0 0 0 5995 0 155880 0 0 0 PART I, LINE 7 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 2022 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 0 0 0 A 16826975 90542475 4140050 1429261 1350276 54018691 29597591 2020 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (2018) (F) DESCRIPTION OF PURPOSE: CURRENTLY REFUND PRIOR ISSUED BONDS, CAPITAL IMPROVEMENTS SCHEDULE K, PART II, LINE 3: THE GROSS PROCEEDS DIFFER FROM THE STATED BOND VALUES DUE TO BOND PREMIUM INCLUDED AT ISSUANCE AS WELL AS INVESTMENT INCOME EARNINGS. FORM 990, PART VI, SECTION A, LINE 3 - FLICK SENIOR DINING RUNS THE DINING SERVICES PROVIDED AT MEADOWOOD. - GENESIS RUNS THE THERAPY SERVICES PROVIDED AT MEADOWOOD. FORM 990, PART VI, SECTION B, LINE 11B THE CFO AND CONTROLLER COORDINATED OBTAINING RESPONSES TO QUESTIONS ON THE FORM 990 AND QUERIED THE APPROPRIATE PARTIES. THE DRAFT WAS REVIEWED BY THE CFO. THE FINAL VERSION WAS REVIEWED WITH THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND SUMMARIZED TO THE FULL BOARD, WHO ALSO RECEIVED A FULL COPY OF THE FINAL VERSION BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C 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, SECTION B, LINE 15 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, SECTION C, LINE 19 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: CHANGE IN FAIR VALUE OF DERIVATIVE FINANCIAL INSTRUMENTS 1,074,336. MEADOWOOD LIFE PLAN AT HOME LLC 3205 SKIPPACK PIKE WORCESTER PA 194900670 812582891 PROVIDES HOME CARE SERVICES TO ITS MEMBERS PA 430339 1272543 MEADOWOOD CORPORATION