2022-10-05T13:34:13-05:00 2021-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-01-01 521761391 KESWICK PINES INC KESW 7328490400 509 ROUTE 530 WHITING NJ 08759 GEORGINA BAVAIS CFO 7328490400 2022-10-04 1 GEORGINA BAVAIS 999009999 KERRI N BOGDA CPA P00760402 7177404863 X 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z THE PINES AT WHITING ERIC GHAUL 509 ROUTE 530 WHITING NJ 08759 22080958 0 X WWW.THEPINESATWHITING.ORG X 1989 NJ SERVES THE ELDERLY THROUGH APARTMENT LIVING, ASSISTED LIVING, AND NURSING HOME CARE. 11 11 314 12 0 0 382481 2403244 17439478 15932218 218991 845296 437414 644142 18478364 19824900 42850 26200 0 0 10295797 10054115 0 0 0 7091551 7705453 17430198 17785768 1048166 2039132 31781297 28869676 30352674 25503830 1428623 3365846 X GUIDED BY CHRISTIAN PRINCIPLES, THE PINES AT WHITING SEEKS TO BUILD A CARING AND RESPECTFUL COMMUNITY OF TRUSTEES, RESIDENTS AND STAFF THAT SERVES THE PHYSICAL, SOCIAL, EMOTIONAL AND SPIRITUAL NEEDS OF SENIOR ADULTS THROUGH RESIDENTIAL LIVING AND HEALTH CARE. 0 0 15508352 26200 16140795 KESWICK PINES, INC., DBA THE PINES AT WHITING (THE PINES), OFFERS INDEPENDENT LIVING APARTMENTS WITH 24 HOUR EMERGENCY CALL SERVICE AND HOME CARE SUPPORTIVE SERVICES AS WELL AS HEALTH CARE SERVICES INCLUDING: ASSISTED LIVING, MEMORY SUPPORT, SKILLED NURSING/REHABILITATION AND LONG TERM CARE PROGRAMS. IN 2021, THE PINES HAS SERVED 185 INDEPENDENT LIVING RESIDENTS, 53 ASSISTED LIVING RESIDENTS (23 OF WHOM WERE IN MEMORY CARE), AND 44 NURSING HOME RESIDENTS. IN 2021, THE TOTAL AMOUNT OF FORGIVEN REVENUE WAS $234,131.CONTINUED ON SCHEDULE O.DURING 2021, THE PINES MADE CONTRIBUTIONS TO THE GREATER WHITING AREA COMMUNITY. THESE COMMUNITY OUTREACH ACTIVITIES INCLUDED: - $700 SPONSORSHIP OF AMERICA'S KESWICK HOT AIR BALLOON EVENT- AMERICA'S KESWICK ANNUAL DONATION OF $3,000- ANNUAL DONATION TO CWS CROPS HUNGER WALK FOR COMMUNITY-LED INTERFAITH EVENTS TO RAISE FUNDS TO END HUNGER LOCALLY AND INTERNATIONALLY- $500 DONATION TO MANCHESTER TOWNSHIP'S THANKSGIVING FOOD DRIVE TO HELP BUY GIFT CARDS FOR 256 FAMILIES, OF WHOM 242 WERE SENIORS, RESIDING IN MANCHESTER.OVERALL, THE PINES PROGRAM TO SERVE OTHERS BENEFITTED SENIORS, COMMUNITY MEMBERS AND STUDENTS BY SUPPORTING THEIR TALENTS, GIVING INFORMATION TO IMPROVE THE QUALITY OF LIFE, AND HELPING PEOPLE TO BETTER UNDERSTAND AND APPRECIATE SENIOR ADULTS. 15508352 1 1 0 1 0 0 1 0 1 0 1 0 0 0 1 1 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 15 0 314 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NJ X GEORGINA BAVAIS CFO 7328490400 509 ROUTE 530 WHITING NJ 08759 JAY KATZ CHAIRMAN 2.00 X X 0 0 0 MARK KOLCHIN VICE CHAIRMAN 2.00 X X 0 0 0 DOUGLAS BAUERBAND TREASURER 2.00 X X 0 0 0 REV WILLIAM COOK MEMBER 2.00 X 0 0 0 ALAN DINKFELT MEMBER 2.00 X 0 0 0 CAROLYN HIBBARD MEMBER 2.00 X 0 0 0 JOHN HOLLAND MEMBER 2.00 X 0 0 0 ROBERT HUBINGER MEMBER 2.00 X 0 0 0 OTTO MORCH MEMBER 2.00 X 0 0 0 JOSEPH OWSINSKI MEMBER 2.00 X 0 0 0 CHARITY ROSZEL MEMBER 2.00 X 0 0 0 ERIC GHAUL CEO 40.00 X 194847 0 9481 GEORGINA BAVAIS CFO 40.00 X 159138 0 22295 PATRICIA POLCHAK HEALTHCARE ADMINISTRATOR 40.00 X 147161 0 15739 ADRIANNE SOBOCINSKI PHYSICAL THERAPIST 40.00 X 116646 0 22696 WENDY HARSHAW DIRECTOR OF MARKETING 40.00 X 101515 0 7688 GAIL SHEPARD DIRECTOR OF NURSES 40.00 X 104573 0 24520 823880 0 102419 6 0 1 0 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICE PROVIDER 1025650 US FOOD SERVICE PO BOX 33101 NEWARK NJ 071880101 FOOD SUPPLIER 580844 JOHNSON KENDALL & JOHNSON 109 PHEASANT RUN NEWTOWN PA 18940 LEGAL 354416 R SOMERS CONSTRUCTION INC 3 S CHARLOTTEVILLE DR TOMS RIVER NJ 08757 CONSTRUCTION CONTRACTOR 300539 J W FINLEY INC PO BOX 409 TOMS RIVER NJ 08754 HEATER MAINTENANCE 286811 11 2306379 96865 2403244 RESIDENT MONTHLY FEES 623990 6453965 6453965 PRIVATE PAY 623990 5519812 5519812 MEDICAID AND MEDICARE REVENUE 623990 2697702 2697702 ENTRANCE FEES REVENUE 623990 1260739 1260739 15932218 136388 136388 2962466 2500 2256058 0 706408 2500 708908 708908 ANCILLARY SERVICES 900009 208577 208577 FOOD SERVICES 722514 116265 116265 BARBER AND BEAUTY 812900 71986 71986 247314 247314 644142 19824900 16140795 0 1280861 4450 4450 21750 21750 385761 154304 231457 7023528 6153711 869817 163102 127392 35710 1496826 1312468 184358 984898 849836 135062 17488 17488 41580 41580 435 435 634032 457007 177025 424637 424637 22018 9138 12880 162249 32630 129619 1219287 1134120 85167 1925 754 1171 455717 455717 1823529 1548501 275028 322204 295507 26697 FOOD SERVICES 1663402 1663402 REPAIRS & MAINTENANCE 346427 346394 33 SUPPLIES 301538 293948 7590 COVID EXPENSES 56233 46638 9595 212752 176048 36704 17785768 15508352 2277416 0 1765 1765 3782379 1572613 488558 372360 174376 270807 56192712 38882560 18095022 17310152 9094720 8550397 144477 791582 31781297 28869676 1100453 1045854 13355749 11629447 13610656 12281016 469501 498155 1750745 65570 49358 30352674 25503830 X 1408450 3295308 20173 70538 1428623 3365846 31781297 28869676 X 2039132 -92889 -9020 X 0 1 X 1 0 X 56891 145814 73314 382481 2403244 3061744 18262863 18325678 17899339 17439478 16140795 88068153 18319754 18471492 17972653 17821959 18544039 91129897 100000 100000 0 100000 100000 91029897 174670 189463 199551 188267 136388 888339 174670 189463 199551 188267 136388 888339 548540 565689 527624 437414 435562 2514829 19042964 19226644 18699828 18447640 19115989 94533065 0.96290 0.96010 0.00940 0.00990 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: ANCILLARY SERVICES - 2017 AMOUNT: $ 317,948. 2018 AMOUNT: $ 336,856. 2019 AMOUNT: $ 326,206. 2020 AMOUNT: $ 270,053. BARBER AND BEAUTY - 2017 AMOUNT: $ 90,083. 2018 AMOUNT: $ 91,844. 2019 AMOUNT: $ 86,206. 2020 AMOUNT: $ 46,350. 2021 AMOUNT: $ 71,986. FOOD SERVICES - 2017 AMOUNT: $ 140,509. 2018 AMOUNT: $ 135,271. 2019 AMOUNT: $ 112,245. 2020 AMOUNT: $ 119,062. 2021 AMOUNT: $ 116,265. OTHER INCOME - 2018 AMOUNT: $ 1,718. 2019 AMOUNT: $ 2,967. 2020 AMOUNT: $ 1,949. 2021 AMOUNT: $ 247,311. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 435 435 0 PART II-B, LINE 1: THE ORGANIZATION PAYS DUES TO LEADING AGE, NEW JERSEY. A PERCENTAGE OF THOSE DUES ARE USED BY LEADING AGE, NEW JERSEY FOR LOBBYING PURPOSES. THE AMOUNT OF LOBBYING EXPENSES REPORTED ARE THE PERCENTAGE OF THE ORGANIZATION'S DUES USED BY LEADING AGE, NEW JERSEY FOR LOBBYING. X X X 1 21.00 0 0 0 1 1 13.00 189 0 1 X 2748541 2748541 41102716 34944874 6157842 11944450 3719502 8224948 397005 218184 178821 17310152 ENTRANCE FEE DEPOSITS 18885 CHARITABLE GIFT ANNUITIES 30473 49358 X 19701241 -92889 -9020 -101909 19803150 21750 21750 19824900 17764018 0 17764018 21750 21750 17785768 PART II, LINE 9: CONSERVATION EASEMENTS ARE REPORTED ON THE BALANCE SHEET AS PART OF LAND. THE CONSERVATION EASEMENT IS A PROTION OF THE TOTAL LAND, WHICH WAS PURCHASED AT $2.7 MILLION. PART IV, LINE 2B: AMOUNTS HELD IN ESCROW REPRESENT CASH DEPOSITS MADE BY PROSPECTIVE RESIDENTS OF INDEPENDENT LIVING UNITS. THE CASH HAS BEEN DEPOSITED INTO A SAVINGS ACCOUNT. IF THE PROSPECTIVE RESIDENT(S) SHOULD DECIDE NOT TO FULFILL THE CONTRACT, THE DEPOSITS ARE REFUNDABLE. IN ADDITION, ENTRANCE FEES RECEIVED FROM RESIDENTS HAVE BEEN REPORTED AS A LONG-TERM LIABILITY. REFUNDABLE PORTIONS OF ENTRANCE FEES ARE FULLY REFUNDABLE TO THE RESIDENT(S), LESS CERTAIN COSTS OR CHARGES INCURRED. IF THE RESIDENT(S) TERMINATE(S) THE CONTRACT, THE REFUNDABLE PORTION OF ENTRANCE FEES IS REFUNDABLE FOLLOWING THE REOCCUPANCY OF THE UNIT FOR THIRTY DAYS. PART X, LINE 2: KESWICK IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS EXEMPT FROM FEDERAL INCOME TAXES ON ITS EXEMPT INCOME UNDER SECTION 501(A) OF THE IRC. KESWICK IS ALSO EXEMPT FROM STATE AND LOCAL INCOME TAXES UNDER SIMILAR STATUTES. KESWICK ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING 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 IS MET. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF ANNUITY -9,020. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE NETTED AGAINST CONTRIBUTIONS ON F/S 21,750. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP EXPENSE NETTED AGAINST CONTRIBUTIONS ON F/S 21,750. 0 SCHOLARSHIPS 7 21750 PART I, LINE 2 THE PINES PAYS SCHOLARSHIPS DIRECTLY TO SCHOOLS ON BEHALF OF THE RECIPIENT, THEREBY ENSURING THE FUNDS ARE USED FOR THEIR INTENDED PURPOSE. PART III, LINE 1 THE SCHOLARSHIP APPLICANT MUST HAVE BEEN EMPLOYED AT THE PINES AT WHITING AS A PART-TIME EMPLOYEE FOR AT LEAST ONE YEAR AND WORKED AT LEAST 300 HOURS PER YEAR. HOURS ARE BASED ON FISCAL YEAR MAY 1 - APRIL 1. THE APPLICANT MUST PRESENT A LETTER OF ACCEPTANCE FROM EITHER A COLLEGE OR SPECIALTY SCHOOL AT THE TIME OF APPLICATION. THE APPLICANT MUST SUPPLY TWO LETTERS OF REFERENCE; ONE FROM SCHOOL (GUIDANCE COUNSELOR, TEACHER, COACH, ETC.) AND THE SECOND MUST COME FROM AN INDIVIDUAL UNRELATED TO SCHOOL OR FAMILY. IN ADDITION, EACH APPLICATION IS CAREFULLY REVIEWED BY THE STUDENT'S DIRECT SUPERVISOR. THE SUPERVISOR IS TO EXAMINE SPECIFIC CRITERIA SUCH AS SAFETY AND JOB PERFORMANCE. THE SUPERVISOR WILL INCLUDE HIS/HER RELATED REMARKS, SIGN THE APPLICATION, AND FORWARD THE APPLICATION IN ITS ENTIRETY TO THE SCHOLARSHIP COMMITTEE. APPLICANTS ALREADY IN COLLEGE, WHETHER APPLYING FOR THE FIRST TIME OR FOR RENEWAL OF THE SCHOLARSHIP MUST PRESENT A TRANSCRIPT OF FULL-TIME (12 OR MORE CREDIT HOURS) OF COLLEGE GRADES. THE APPLICANT WILL THEN NOT BE REQUIRED TO SUBMIT A LETTER OF ACCEPTANCE AND TWO LETTERS OF REFERENCE; HOWEVER, BOTH FIRST TIME APPLICANTS AND APPLICANT RENEWALS WILL BE ASKED ABOUT THEIR LEVEL OF PARTICIPATION BOTH IN THEIR SCHOOL AND THEIR COMMUNITY. X 1 1 X X 0 0 0 0 0 0 0 1 0 ERIC GHAUL CEO 174255 0 10000 0 10592 0 6910 0 2571 0 204328 0 0 0 GEORGINA BAVAIS CFO 144058 0 0 0 15080 0 6070 0 16225 0 181433 0 0 0 PATRICIA POLCHAK HEALTHCARE ADMINISTRATOR 137835 0 0 0 9326 0 3973 0 11766 0 162900 0 0 0 PART I, LINE 1A AS PART OF HIS COMPENSATION PACKAGE, ERIC GHAUL, CEO, WAS PAID A BOARD APPROVED, TAKE-HOME TAX DEFERRAL BONUS, AND AS SUCH, THE PINES PAID THE TAXES ON THE BONUS ON HIS BEHALF. THE GROSS UP PAYMENT WAS INCLUDED IN THE CEO'S W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III), LINE 1. PART I, LINE 7 THE PINES UTILIZES DISCRETION IN DETERMINING THE AMOUNT OF BONUSES. DISCRETION IS BASED ON THE PINE'S PERFORMANCE AND IS INCLUDED IN THE BUDGET WHICH IS APPROVED BY THE BOARD. A PUBLIC FINANCE AUTHORITY 273866124 NONEAVAIL 2014-11-13 21500000 SEE PART VI 0 0 0 A 8808151 21500000 903473 429999 85517 3447116 16642910 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PUBLIC FINANCE AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/01/2021 PART I, BOND ISSUES (A) ISSUER NAME: PUBLIC FINANCE AUTHORITY (F) DESCRIPTION OF PURPOSE: TO REFUND THE FIRST MORTGAGE REVENUE REFUNDING BONDS, SERIES 1998 AND TO FINANCE VARIOUS CAPITAL PROJECTS AND WORKING CAPITAL. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIRPERSON, VICE CHAIRPERSON, SECRETARY, TREASURER AND AN ADDITIONAL MEMBER OF THE BOARD OF DIRECTORS IS SELECTED BY THE CURRENT MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE FULL BOARD; PROVIDED, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY OF THE BOARD OF DIRECTORS IN REFERENCE TO: (A) AMENDING, ALTERING, OR REPEALING THE BYLAWS, (B) ELECTING, APPOINTING OR REMOVING ANY MEMBER OF THE EXECUTIVE COMMITTEE OR ANY DIRECTOR OR OFFICER OF THE CORPORATION, (C) AMENDING THE ARTICLES OF INCORPORATION, (D) ADOPTING A PLAN OF MERGER OR ADOPTING A PLAN OF CONSOLIDATION WITH ANOTHER CORPORATION, (E) AUTHORIZING THE SALE, LEASE, EXCHANGE OR MORTGAGE OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE CORPORATION, (F) AUTHORIZING THE VOLUNTARY DISSOLUTION OF THE CORPORATION OR REVOKING PROCEEDINGS THEREFORE, (G) ADOPTING A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE CORPORATION, (H) AMENDING, ALTERING, OR REPEALING ANY RESOLUTION OF THE BOARD OF DIRECTORS. THE DELEGATION OF AUTHORITY SHALL NOT OPERATE TO RELIEVE THE BOARD OF DIRECTORS, OR ANY INDIVIDUAL DIRECTOR, OF ANY RESPONSIBILITY IMPOSED UPON IT OR HIM BY LAW. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN REVIEWED BY THE CFO. THE CFO WILL SHARE THE ENTIRE RETURN WITH ALL VOTING BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S BOARD MEMBERS AND OFFICERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST TO THE MEMBERS OF THE BOARD. BOARD MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY, WHICH ARE REVIEWED BY THE CEO. THE ORGANIZATION ALSO HAS A CONFLICT OF INTEREST SECTION IN ITS EMPLOYEE HANDBOOK WHICH ALL EMPLOYEES ARE REQUIRED TO FOLLOW AT THE APRIL QUARTERLY MEETING. IF CONFLICTS OF INTEREST DO ARISE, THE INTERESTED PARTY OR PARTIES ARE PROHIBITED FROM VOTING ON BOARD MATTERS. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD'S EXECUTIVE COMMITTEE APPROVES THE CEO'S COMPENSATION. COMPENSAION RECOMMENDATIONS ARE SUBMITTED IN WRITING BY THE CHAIR OF THE BOARD TO THE CFO USING A BOARD APPROVED EMPLOYMENT CONTRACT. THE LATEST CONTRACT WAS SIGNED ON 8/16/2018 AND IS FOR A THREE YEAR PERIOD COVERING 2019-2021. COMPARABILITY DATA INCLUDED THE 2016-2017 CCRC SALARY AND BENEFIT REPORT, AS ENDORSED BY LEADING AGE, IS USED TO ENSURE COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. DELIBERATION AND FINAL DECISION IS THEN DOCUMENTED TIMELY. THIS PROCESS WAS LAST COMPLETED IN 2018. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE ANNUAL DISCLOSURE STATEMENT INCLUDES THE MOST RECENT AUDITED FINANCIAL STATEMENTS. THIS IS GIVEN TO RESIDENTS AND/OR PROSPECTIVE RESIDENTS WHO INQUIRE ABOUT THE ORGANIZATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITY -9,020.