2023-11-14T07:58:59-06:00 2022-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-01-01 561497371 WELL-SPRING RETIREMENT COMMUNITY INC WELL 3365455421 4100 WELL SPRING DRIVE GREENSBORO NC 27410 K ALAN TUTTEROW CFO 3365455421 2023-11-13 1 K ALAN TUTTEROW 999009999 0 JOHN NORMAN P01506766 7049985200 2023-11-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z WELL-SPRING A LIFE PLAN COMMUNITY STEPHEN P FLEMING 4100 WELL SPRING DRIVE GREENSBORO NC 27410 36704666 0 X WWW.WELL-SPRING.ORG X 1987 NC TO PROVIDE RETIREMENT LIVING SERVICES. 22 22 668 0 0 0 2051625 825163 31548311 34365310 4120519 1416879 77264 97314 37797719 36704666 1148073 1078134 0 0 15460278 16822120 0 0 48411 16943388 19025300 33551739 36925554 4245980 -220888 143095668 137378238 100262706 98561523 42832962 38816715 WELL-SPRING IS A NOT-FOR-PROFIT ORGANIZATION PROVIDING AGING-ADULT SERVICES WHICH CREATE AN EXPERIENCE THAT EXCEEDS THE NEEDS OF AN EVOLVING POPULATION OF OLDER ADULTS. 0 0 33511077 1078134 34365310 WELL-SPRING RETIREMENT COMMUNITY, INC ("WELL-SPRING"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. WELL-SPRING IS GOVERNED BY A BOARD OF TRUSTEES COMPOSED OF CIVIC LEADERS, CURRENTLY CONSISTING OF 17 INDIVIDUALS, WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO, NORTH CAROLINA INITIALLY SPONSORED AND PROVIDED LEADERSHIP TO WELL-SPRING. REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOME FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C) 3 EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND SIMILAR NEEDS OF AGED. 33511077 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 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 0 1 1 0 0 0 1 131 0 1 668 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 3365455421 4100 WELL SPRING DR GREENSBORO NC 27410 KENNETH BOGGS CHAIR 1.00 2.00 X X 0 0 0 KATHRYN COOKIE BILLINGS VICE-CHAIR, IMM. PAST CHAIR 1.00 2.00 X X 0 0 0 RICHARD BEARD BOARD MEMBER 1.00 2.00 X 0 0 0 ANTHONY BOYD BOARD MEMBER 1.00 2.00 X 0 0 0 CHRIS BROWN BOARD MEMBER 1.00 2.00 X 0 0 0 DAN CAMIA BOARD MEMBER 1.00 2.00 X 0 0 0 TIM CLONTZ BOARD MEMBER 1.00 2.00 X 0 0 0 SALLY CONE BOARD MEMBER 1.00 2.00 X 0 0 0 SUSAN COX BOARD MEMBER 1.00 2.00 X 0 0 0 GINNA FREYALDENHOVEN BOARD MEMBER 1.00 2.00 X 0 0 0 WENDY GATLIN BOARD MEMBER 1.00 2.00 X 0 0 0 DANNY GATLING BOARD MEMBER 1.00 2.00 X 0 0 0 MARK HYMAN BOARD MEMBER 1.00 2.00 X 0 0 0 JENNIFER KOENIG BOARD MEMBER 1.00 2.00 X 0 0 0 BONNIE MCALISTER BOARD MEMBER 1.00 2.00 X 0 0 0 SUSAN MCDONALD BOARD MEMBER 1.00 2.00 X 0 0 0 BOB POWELL BOARD MEMBER 1.00 2.00 X 0 0 0 SUSAN SHUMAKER BOARD MEMBER 1.00 2.00 X 0 0 0 CAROLE SIMMS BOARD MEMBER 1.00 2.00 X 0 0 0 LESLYE TUCK BOARD MEMBER 1.00 2.00 X 0 0 0 DALE WHITFIELD BOARD MEMBER 1.00 2.00 X 0 0 0 BEN ZURAW BOARD MEMBER 1.00 2.00 X 0 0 0 STEPHEN P FLEMING PRESIDENT/CEO 40.00 5.00 X 0 409612 35991 K ALAN TUTTEROW SECRETARY 40.00 5.00 X 0 289521 32184 BRIAN TUCKMANTEL TREASURER 40.00 5.00 X 0 267028 16235 MISTI RIDENOUR DIRECTOR OF HEALTHCARE 40.00 2.00 X 196300 0 12834 JANET HOLBROOK CONTROLLER 40.00 5.00 X 126406 0 11508 PHILIP JOHNSON DIRECTOR OF FACILITIES 40.00 X 116366 0 11262 SUSAN SUEK DIRECTOR OF NURSING 40.00 X 115331 0 7675 GEORGE GALVIN DIRECTOR OF DINING SERVICES 40.00 X 101235 0 17314 655638 966161 145003 5 0 1 0 SAMET CORPORATION 309 GALLIMORE DAIRY RD STE 102 GREENSBORO NC 27409 CONSTRUCTION 6310942 US FOODSERVICE INC PO BOX 602292 CHARLOTTE NC 28260 FOOD 1566728 CNE IMPROVEMENT PO BOX 2632 KING NC 27021 CONSTRUCTION 1480365 BECO INC 2124 SURRETT DR HIGH POINT NC 27263 CONSTRUCTION 1042817 RIGHT TOUCH INTERIORS LLC 807 POST ST GREENSBORO NC 27405 FLOORING 526567 32 334310 490853 825163 RESIDENT FEES 623990 33105220 33105220 HEALTH CARE SERVICES 623990 318891 318891 941199 941199 34365310 1392333 1392333 97314 0 97314 97314 97314 140 24406 0 0 140 24406 24546 24546 36704666 34365310 0 1514193 1078134 1078134 14156317 12536580 1619737 1687755 1419962 267793 978048 840864 137184 655506 612123 43383 74947 74947 118075 118075 1496101 1496101 483775 35321 448454 1496375 1484404 11971 1481787 1469933 11854 14494 12436 2058 53384 45803 7581 1201229 1201229 7049685 6997971 51714 321884 319309 2575 FOOD 2041610 2041610 EQUIP. RENTAL & MAINT. 1956200 1956200 MAINT. & HORTICULTURE 477624 477624 RESIDENT ACTIVITIES 84666 84666 17958 12930 5028 36925554 33511077 3366066 48411 3553836 1457218 1473687 1127087 941169 801185 75316 99181 99745 169830 150479225 66502611 83020262 83976614 40773323 30129604 13158330 19617519 143095668 137378238 7512382 5860340 42563519 48732606 45449221 42999421 4737584 969156 100262706 98561523 X 41461071 37445957 1371891 1370758 42832962 38816715 143095668 137378238 X -220888 -9512714 5717355 X X 0 1 X 1 0 X 1002545 2622966 671683 2051625 825163 7173982 26777324 28896565 30357277 31548311 35016740 152596217 27779869 31519531 31028960 33599936 35841903 159770199 376950 2908751 609187 654497 4549385 0 376950 2908751 609187 654497 4549385 155220814 1318848 1400013 1503428 2124238 1489647 7836174 1318848 1400013 1503428 2124238 1489647 7836174 29098717 32919544 32532388 35724174 37331550 167606373 0.92610 0.91130 0.04680 0.04520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3402472 3402472 90688116 35604343 55083773 37274456 21275722 15998734 17540857 9622546 7918311 1573324 1573324 83976614 INVESTMENTS 30129604 F 30129604 REFUNDABLE ENTRANCE FEES 355996 ADMISSIONS DEPOSITS 613160 OTHER ASSETS 221892 STATUTORY OPERATING RESERVE 7587750 DUE FROM RELATED PARTY 1431764 TRUSTEE HELD FUNDS 324737 EXTERNALLY RESTRICTED UNDER DONORS RESTRICTIONS 1309817 BOARD DESIGNATED 3314000 INTEREST RATE SWAP AGREEMENT 4458403 19617519 REFUNDABLE FEES 355996 REFUNDABLE RESERVATION FEE 613160 969156 X 26821856 -9512714 479473 -9033241 35855097 849569 849569 36704666 36421554 0 36421554 504000 504000 36925554 PART X, LINE 2: THE COMMUNITY IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE COMMUNITY FILES AS A TAX-EXEMPT ORGANIZATION. SHOULD ANY STATUS BE CHALLENGED IN THE FUTURE, THE COMMUNITY IS OPEN FOR EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF THE COMMUNITY. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR THE COMMUNITY. THE COMMUNITY HAS ADOPTED GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE IMPLEMENTATION HAS HAD NO IMPACT ON THE COMMUNITY'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTIONS FOR USE IN OPERATIONS 479,473. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION FROM RELATED ORGANIZATION 334,310. DONOR RESTRICTED CONTRIBUTIONS 490,853. GAIN ON DISPOSAL OF PROPERTY AND EQUIPMENT 24,406. PART XII, LINE 4B - OTHER ADJUSTMENTS: TRANSFER TO RELATED ORGANIZATIONS 504,000. 1 ELON UNIVERSITY 2600 CAMPUS BOX ATTN JOHN BARNHILL ELON NC 27244 560532303 501(C)(3) 25000 0 GENERAL SUPPORT UNCG PO BOX 26170 GREENSBORO NC 27402 566001468 501(C)(3) 40280 0 GENERAL SUPPORT GREENSBORO SYMPHONY ORCHESTRA 200 NORTH DAVIE ST BOX 10 GREENSBORO NC 27401 566063111 501(C)(3) 6473 0 GENERAL SUPPORT GUILFORD COLLEGE 5800 WEST FRIENDLY AVE GREENSBORO NC 27410 560529982 501(C)(3) 8250 0 GENERAL SUPPORT APPALACHIAN STATE UNIVERSITY FOUNDATION BOX 32156 BOONE NC 28608 237099379 501(C)(3) 35000 0 GENERAL SUPPORT CREATIVE AGING NETWORK 2400 SUMMIT AVE GREENSBORO NC 27405 331145536 501(C)(3) 10000 0 GENERAL SUPPORT AUTHORACARE COLLECTIVE 2500 SUMMIT AVE GREENSBORO NC 27405 561249146 501(C)(3) 42500 0 GENERAL SUPPORT COMMUNITY FOUNDATION OF GREENSBORO 330 S GREENE ST STE 100 GREENSBORO NC 27401 561380249 501(C)(3) 7500 0 GENERAL SUPPORT CONE HEALTH 1200 NORTH ELM ST GREENSBORO NC 27401 581588823 501(C)(3) 75000 0 GENERAL SUPPORT GREENSBORO CHILDREN'S MUSEUM 220 N CHURCH ST GREENSBORO NC 27401 561959695 501(C)(3) 6500 0 GENERAL SUPPORT DOWNTOWN GREENWAY 122 N ELM ST STE 110 GREENSBORO NC 27401 562251250 501(C)(3) 12000 0 GENERAL SUPPORT EASTERN MUSIC FESTIVAL PO BOX 22026 GREENSBORO NC 27420 560771005 501(C)(3) 11445 0 GENERAL SUPPORT GREENSBORO LITERACY ORGANIZATION PO BOX 5256 GREENSBORO NC 27435 821231324 501(C)(3) 10000 0 GENERAL SUPPORT GREENSBORO OPERA 200 N DAVIE ST BOX 17 GREENSBORO NC 27401 581379465 501(C)(3) 13000 0 GENERAL SUPPORT TEMPLE EMANUEL 1129 JEFFERSON ROAD GREENSBORO NC 27410 560543235 501(C)(3) 6188 0 GENERAL SUPPORT FAMILY SERVICES OF THE PIEDMONT 902 BONNER DR JAMESTOWN NC 27282 562061741 501(C)(3) 6000 0 GENERAL SUPPORT UNIVERSITY OF NC CTR FOR PUBLIC MEDIA PO BOX 14900 RESEARCH TRIANGLE PARK NC 27709 566172047 501(C)(3) 15000 0 GENERAL SUPPORT WFDD PO BOX 8850 WINSTON SALEM NC 27109 560532138 501(C)(3) 10000 0 GENERAL SUPPORT ADULT CENTER FOR ENRICHMENT INC 4100 WELL SPRING DR GREENSBORO NC 27410 561599072 501(C)(3) 404000 0 GENERAL SUPPORT WELL SPRING SERVICES INC 4100 WELL SPRING DR GREENSBORO NC 27410 900885759 501(C)(3) 100000 0 GENERAL SUPPORT ALAMANCE COMMUNITY COLLEGE PO BOX 8000 GRAHAM NC 27253 566052379 501(C)(3) 25000 0 GENERAL SUPPORT COMMUNITY HOUSING SOLUTIONS PO BOX 3341 GREENSBORO NC 27402 200458814 501(C)(3) 6500 0 GENERAL SUPPORT ARTS GREENSBORO 200 N DAVIE STREET STE 201 GREENSBORO NC 27401 560746180 501(C)(3) 12500 0 GENERAL SUPPORT CAROLINA AGING ALLIANCE 4 N BLOUNT STREET STE 100 RALEIGH NC 27601 920999425 5250 0 GENERAL SUPPORT GREENSBORO AIRPORT ROTARY FOUNDATION PO BOX 19608 GREENSBORO NC 27401 261607630 6000 0 GENERAL SUPPORT GREENSBORO JEWISH FEDERATION 5509-C WEST FRIENDLY AVE GREENSBORO NC 27410 237107693 5250 0 GENERAL SUPPORT GREENSBORO SCIENCE CENTER 4301 LAWNDALE DR GREENSBORO NC 27455 560885727 7140 0 GENERAL SUPPORT GREENSBORO SYMPHONY GUILD PO BOX 10408 GREENSBORO NC 27404 581461256 7200 0 GENERAL SUPPORT GUILFORD COUNTY DHHS PO BOX 3388 GREENSBORO NC 27402 566000305 25000 0 GENERAL SUPPORT INTERACTIVE RESOURCE CENTER PO BOX 20568 GREENSBORO NC 27420 800315285 6000 0 GENERAL SUPPORT LEADINGAGE NC FOUNDATION PO BOX 27527 RALEIGH NC 27611 561541496 10000 0 GENERAL SUPPORT NCCJ 713 N GREENE ST GREENSBORO NC 27401 061753756 12000 0 GENERAL SUPPORT 32 PART I, LINE 2: WELL-SPRING RETIREMENT COMMUNITY RECEIVES PERIODIC REPORTS FOR THE ORGANIZATION TO WHOM FUNDS WERE DONATED TO ESTABLISH SCHOLARSHIPS. X X X X 0 0 0 0 0 0 0 0 0 STEPHEN P FLEMING PRESIDENT/CEO 0 355216 0 53364 0 1032 0 12200 0 23791 0 445603 0 0 K ALAN TUTTEROW SECRETARY 0 257002 0 30935 0 1584 0 12200 0 19984 0 321705 0 0 BRIAN TUCKMANTEL TREASURER 0 266728 0 0 0 300 0 0 0 16235 0 283263 0 0 MISTI RIDENOUR DIRECTOR OF HEALTHCARE 172614 0 23134 0 552 0 5159 0 7675 0 209134 0 0 0 A PUBLIC FINANCE AUTHORITY 273866124 NONEAVAIL 2016-10-18 9205000 CURRENT REFUNDING OF SERIES 2003 BONDS AND TAXABLE VARIABLE RATE DEBT 0 0 0 B PUBLIC FINANCE AUTHORITY 273866124 NONEAVAIL 2016-11-03 30795000 FUND EXPANSION AND RENOVATION OF RESIDENT AMENITIES, AS NEEDED 0 0 0 C PUBLIC FINANCE AUTHORITY 273866124 NONEAVAIL 2020-03-01 22410000 0 0 0 A 5925417 9205000 99535 9105465 1 0 1 1 B 3398334 30795000 329122 30465878 2019 0 0 1 1 C 8250000 22410000 370994 314627 14560745 3634 7160000 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 1 1 BB&T 9.900000000000 0 0 0 0 1 B 0 0 0 1 1 1 BB&T 5.000000000000 0 0 0 0 1 C 0 1 0 0 0 1 BB&T 13.300000000000 0 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION B, LINE 11B BEFORE THE FILING OF THE INFORMATION TAX RETURN 990 FOR WELL-SPRING RETIREMENT COMMUNITY, THE FORM 990 WAS REVIEWED IN DETAIL BY THE CHIEF FINANCIAL OFFICER AND CHIEF EXECUTIVE OFFICER. EACH MEMBER OF THE WELL-SPRING RETIREMENT COMMUNITY'S BOARD OF TRUSTEES WAS PROVIDED WITH A COPY OF WELL-SPRING RETIREMENT COMMUNITY'S FORM 990 PRIOR TO FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES SHALL COMPLETE AND RETURN TO THE SECRETARY AN ANNUAL STATEMENT THAT EACH OF THEM: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (B) HAS READ AND UNDERSTANDS THE POLICY; (C) AGREES TO COMPLY WITH THIS POLICY; (D) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES; AND (E) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND MUST CONTINUOUSLY ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT/CEO COMPENSATION: IT SHALL BE THE POLICY OF WELL-SPRING RETIREMENT COMMUNITY TO ANNUALLY REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO UNLESS CIRCUMSTANCES DEMAND MORE FREQUENT REVIEW INTERVALS. THE PRESIDENT/CEO'S REVIEW SHALL BE CONDUCTED BY THE BOARD OF TRUSTEES; HOWEVER THE BOARD OF TRUSTEES MAY DELEGATE THIS FUNCTION TO ITS COMPENSATION COMMITTEE. PROCEDURES FOR SETTING COMPENSATION: 1. A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2. THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE WELL-SPRING RETIREMENT COMMUNITY'S FISCAL YEAR. 3. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS: THE AAHSA SALARY AND BENEFIT REPORT, NCANPHA WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR. 5. AT THE MEETING, THE PRESIDENT/CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT/CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEE'S DISCRETION. 6. AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS, THE COMMITTEE MAY EXCUSE THE PRESIDENT/CEO, ENTER INTO EXECUTIVE SESSION AND DISCUS THE PRESIDENT/CEO'S PERFORMANCE AND COMPENSATION. 7. AT THE CONCLUSION OF THE MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL MEET WITH THE PRESIDENT/CEO IN ORDER TO REVIEW THE COMMITTEE'S ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT/CEO'S COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY. 8. AT THE FIRST BOARD OF TRUSTEES' MEETING FOLLOWING THE COMPENSATION COMMITTEE'S MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL REPORT THE COMMITTEE'S FINDINGS AND THE COMMITTEE'S ACTIONS REGARDING EMPLOYMENT STATUS, RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT/CEO. EXECUTIVE MANAGERS COMPENSATION PHILOSOPHY OBJECTIVE: THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF WELL-SPRING'S EXECUTIVE COMPENSATION POLICIES SHOULD BE: - TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS, OVERALL, HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD, WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH WELL-SPRING'S ANNUAL BUDGET, FINANCIAL OBJECTIVES, OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION; AND - TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF WELL-SPRING'S ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON WELL-SPRING'S ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION WELL-SPRING'S FINANCIAL PERFORMANCE, ITS ANNUAL BUDGET, ITS POSITION IN THE INDUSTRY AND WELL-SPRING'S MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE, IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL MAY MAKE TO THE SUCCESS OF WELL-SPRING RETIREMENT COMMUNITY, INC. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022 FORM 990, PART VI, SECTION C, LINE 19 WELL-SPRING RETIREMENT COMMUNITY'S FINANCIAL STATEMENTS ARE PART OF WELL-SPRING'S ANNUAL DISCLOSURE STATEMENT WHICH IS FILED WITH THE NC DEPARTMENT OF INSURANCE. THE NC DEPARTMENT OF INSURANCE POSTS ALL DISCLOSURE STATEMENTS ON THEIR WEB SITE. THE FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH THE SEC VIA EMMA (ELECTRONIC MUNICIPAL MARKET ACCESS). ADDITIONALLY, COPIES OF GOVERNING DOCUMENTS, OUR CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS 5,717,355. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PART VII, LINE 1A, COLUMN (B): AVERAGE HOURS PER WEEK LISTED IN COLUMN (B) INCLUDE HOURS UTILIZED TOWARDS BOTH THE FILING ORGANIZATION AND RELATED ORGANIZATIONS. WELL-SPRING FOUNDATION 4100 WELL SPRING DRIVE GREENSBORO NC 27410 562217797 FUNDRAISING NC 501(C)(3) LINE 12A, I WELL SPRING SERVICES 1 PACE OF GUILFORD & ROCKINGHAM COUNTIES INC 721 GREEN VALLEY ROAD GREENSBORO NC 27408 271560334 ALL INCLUSIVE ELDERLY CARE NC 501(C)(3) LINE 10 N/A 0 WELL SPRING SERVICES INC 4100 WELL SPRING DRIVE GREENSBORO NC 27410 900885759 HOLDING COMPANY NC 501(C)(3) LINE 10 N/A 0 ADULT CENTER FOR ENRICHMENT INC 4100 WELL SPRING DRIVE GREENSBORO NC 27410 561599072 ADULT CARE CENTER NC 501(C)(3) LINE 10 N/A 0 ALAMANCE EXTENDED CARE 4100 WELL SPRING DRIVE GREENSBORO NC 27410 581681364 CCRC NC 501(C)(3) 0 WELL-SPRING MANAGEMENT & DEVELOPMENT COMPANY INC 3859 BATTLEGROUND AVE SUITE 301 GREENSBORO NC 27410 460944965 MANAGEMENT SERVICES NC WELL-SPRING SERVICES C 0 1 1 1 1 0 0 0 0 0 0 0 1 0 1 1 1 1 1 1 WELL-SPRING FOUNDATION R 135277 ACTUAL TRANSFER WELL-SPRING FOUNDATION C 199033 CASH ADULT CENTER FOR ENRICHMENT C 404000 CASH WELL-SPRING SERVICES B 100000 CASH