2022-11-04T16:00:15-05:00 2021-12-31 440160260 FORVIS LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2021-01-01 311644805 SAMARITAN HOUSING FOUNDATION INC SAMA 8662611814 17001 SEARSTONE DRIVE CARY NC 27513 KEN BULLOCK CFO 8662611814 2022-11-04 1 KEN BULLOCK 999009999 AMY BIBBY P00445891 8282542254 2022-11-02 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STANLEY BRADING 17001 SEARSTONE DRIVE CARY NC 27513 15373182 0 X WWW.SEARSTONE.COM X 2005 NC THE COMMUNITY IS ESTABLISHED TO PROVIDE AN ENHANCED RETIREMENT ENVIRONMENT FEATURING FULL- SERVICE LIFE CARE FOR RESIDENTS OF SIXTY-TWO PLUS (62+) YEARS OF AGE, WHILE EMPHASIZING AN ACTIVE LIFESTYLE, INDIVIDUAL INDEPENDENCE, PERSONAL DIGNITY, AND FAMILY ESTATE PRESERVATION. 9 9 252 0 0 0 39955 934323 13415709 14226437 274889 -416142 -24 0 13730529 14744618 662762 710000 0 0 4824049 4871750 0 0 0 12684218 13388136 18171029 18969886 -4440500 -4225268 137509038 309375809 213400327 389208617 -75891289 -79832808 X SEE SCHEDULE O. 0 0 16136839 710000 14226437 SEARSTONE RETIREMENT COMMUNITY IS MADE UP OF 169 LIVING UNITS FOR 245 PEOPLE AND 39 BEDS OF NURSING CARE, 14 FOR ASSISTED LIVING AND 25 FOR NURSING CARE. SERVICES SUCH AS MEALS, HOUSEKEEPING, MAINTENANCE, ACTIVITIES, TRANSPORTATION, AND NURSING SERVICES ARE AVAILABLE. WE OFFER PHYSICAL, OCCUPATIONAL AND SPEECH THERAPY FOR THOSE RESIDENTS WHO CAN BENEFIT FROM THESE PROGRAMS, OFFERING OVER 11,000 SESSIONS OF THERAPY IN 2021.WE HAVE A FOOD SERVICE PROGRAM WHICH PROVIDES MEALS TO RESIDENTS, THEIR GUESTS AND OUR STAFF. IN 2021, WE SERVED 85,000 MEALS.ACTIVITIES ARE OFFERED IN EACH LEVEL OF CARE DEPENDING ON THE LEVEL OF ACTIVITIES SUITABLE FOR THAT LEVEL OF CARE, FROM GOING OUT TO PUBLIC PROGRAMS SUCH AS THEATER PRODUCTIONS TO SYMPHONIES, OR HAVING IN-HOUSE EVENTS COMPRISED OF THEME PARTIES AND GAMES. OUR NURSING SERVICES COVER THE ENTIRE CAMPUS AND RANGE FROM EMERGENCY NURSING SERVICES TO 24-HOUR NURSING SERVICES. 16136839 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 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 0 0 0 0 0 1 43 0 1 252 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA NC X KEN BULLOCK 9192340408 17001 SEARSTONE DR CARY NC 27513 X STANLEY G BRADING PRESIDENT 30.00 X X 704600 0 55307 LINDA COLEMAN DIRECTOR 2.00 X 6500 0 0 CHARLES HENDERSON DIRECTOR 2.00 X 7000 0 0 CHARLES NORMAN DIRECTOR 2.00 X 7500 0 0 JAMES PIERCE DIRECTOR 4.00 X 7500 0 0 TOM BEEBE DIRECTOR 2.00 X 7500 0 0 MARC HEWITT DIRECTOR 2.00 X 7500 0 0 MACK LEATH DIRECTOR 2.00 X 7500 0 0 DARRYL MILLS SPECIAL ADVISOR 2.00 X 0 0 0 EARL A MEAD DIRECTOR 2.00 X 0 0 0 W DERRICK MOORE EXECUTIVE DIRECTOR 40.00 X 160104 0 8959 ALLIE LIGAY DIRECTOR OF MARKETING 40.00 X 141110 0 8640 MARY P CLEMENTS CHIEF FINANCIAL OFFICER 40.00 X 128682 0 3421 1185496 0 76327 3 0 1 0 STEWART & CONNERS ARCHITECTS PLLC 3731 LATROBE DR STE 100 CHARLOTTE NC 28211 ARCHITECTS 1045843 TRI SOUTH MECHANICAL LLC PO BOX 2114 WAKE FOREST NC 27588 HVAC 287120 DIXON HUGHES GOODMAN PO BOX 602828 CHARLOTTE NC 28260 ACCOUNTING/CONSULTING 217380 K&L GATES LLP PO BOX 844255 BOSTON MA 02284 LEGAL 154821 JOF PAINTING 101 WOOD HOLLOW DR CARY NC 27513 PAINTING 150055 7 757900 176423 934323 RESIDENT FEES 623990 11722424 11722424 AMORTIZATION OF ENTRANCE FEE 623990 1417115 1417115 RESIDENT MEALS 623990 978052 978052 RESIDENT SERVICES 623990 108846 108846 14226437 150289 150289 62133 628564 -566431 -566431 -566431 14744618 14226437 0 -416142 710000 710000 971011 971011 3029045 3029045 23814 19051 4763 497743 398194 99549 350137 280110 70027 459270 459270 92963 92963 84090 84090 1268325 1014660 253665 376818 376818 991986 790928 201058 200540 160432 40108 656070 524856 131214 27562 22032 5530 20455 16364 4091 4598587 4598587 3587102 3587102 252397 252397 FOOD AND BEVERAGE 577519 577519 OTHER COSTS 194452 155562 38890 18969886 16136839 2833047 0 1073796 1476998 1448840 115481 80891 34950 500000 299787 284994 142209445 24757064 108391631 117452381 23618052 184326850 2096041 5684155 137509038 309375809 1583863 2969002 11250472 11503281 89284115 260634083 111281877 114102251 213400327 389208617 X -76047903 -80165845 156614 333037 -75891289 -79832808 137509038 309375809 -4225268 283749 0 X X 0 1 X 1 0 X 15839 43792 59304 39955 934323 1093213 10425886 11082077 11625887 12449134 13248385 58831369 766644 846751 925221 966575 978052 4483243 11208369 11972620 12610412 13455664 15160760 64407825 0 0 0 64407825 62819 273004 352677 200248 150289 1039037 62819 273004 352677 200248 150289 1039037 11271188 12245624 12963089 13655912 15311049 65446862 0.98410 0.98270 0.01590 0.01730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21257868 21257868 85596784 17520442 68076342 31673285 6483070 25190215 2469156 505401 1963755 1212352 248151 964201 117452381 RESIDENT DEPOSITS 10492532 SUBORDINATE OBLIGATIONS 14451275 REFUNDABLE ADVANCE FEES 89158444 114102251 X 15230834 283749 283749 14947085 -202467 -202467 14744618 19172353 202467 202467 18969886 0 18969886 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF 2021 OR 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED ON FS -202,467. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES NETTED ON FS 202,467. 1 LUTHERAN SERVICES CAROLINAS PO BOX 947 SALISBURY NC 28145 201457236 501(C)(3) 710000 0 ASSISTANCE TO OTHER NOT FOR PROFITS THAT MEET OUR CHARITABLE PURPOSE 1 0 PART I, LINE 2: THE ORGANIZATION MAINTAINS A RELATIONSHIP WITH THE RECIPIENT ORGANIZATION TO ENSURE FUNDS ARE SPENT FOR INTENDED PURPOSES. X X X 0 0 0 0 0 0 0 0 0 STANLEY G BRADING PRESIDENT 279600 0 425000 0 0 0 0 0 55307 0 759907 0 0 0 W DERRICK MOORE EXECUTIVE DIRECTOR 160104 0 0 0 0 0 0 0 8959 0 169063 0 0 0 MARY P CLEMENTS CHIEF FINANCIAL OFFICER 128682 0 0 0 0 0 0 0 3421 0 132103 0 0 0 SCHEDULE J PART II: SEE SCHEDULE O PART VII DISCLOSURE FOR DETAILS RELATING TO PRESIDENT STANLEY G. BRADING COMPENSATION DISCLOSURE A PUBLIC FINANCE AUTHORITY 273866124 74442PCV5 2016-12-28 7461440 REVENUE BONDS (SEARSTONE CCRC PROJECT) SERIES 2016 0 0 0 B PUBLIC FINANCE AUTHORITY 273866124 74442PFP5 2017-12-27 77745000 REVENUE BONDS (SEARSTONE CCRC PROJECT) SERIES 2017 0 0 0 C PUBLIC FINANCE AUTHORITY 273866124 74442PTL9 2021-11-10 258931954 REVENUE BONDS (SEARSTONE CCRC PROJECT) SERIES 2021 A-B AND REFUNDING 0 0 0 A 1766 7461440 480000 135000 6846440 0 0 0 0 B 1182576 77745000 1017660 1487853 5610579 69628908 0 1 0 1 C 258931954 7598714 5037944 157277949 89017347 1 1 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 0 B 0 1 0 0 0 0 0 0 0 C 0 1 0 0 0 0 0 0 1 A 0 B 0 C 1 FORM 990, PART VI, SECTION A, LINE 3 SAMARITAN HOUSING FOUNDATION DELEGATED ITS USUAL MANAGEMENT DUTIES TO SEARSTONE RLA THE TAX YEAR. THE TOTAL AMOUNT OF THE TRANSACTION IS $396,000. FORM 990, PART VI, SECTION B, LINE 11B THE 990-PREPARATION FILE IS COMPLETED BY THE CFO. THE CFO REVIEWS IT AND PROVIDES IT TO THE BOARD, SSRLA, MANAGEMENT AND THE CORPORATE ATTORNEY FOR COMMENT. THE FINAL 990 IS DISTRIBUTED TO THE BOARD AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C YEARLY, THE POLICY IS ISSUED TO THE BOARD AT A REGULAR BOARD MEETING. THE MEMBERS ARE ASKED TO REVIEW AND THEN COMPLETE THE YEARLY STATEMENT. THE STATEMENTS ARE KEPT BY THE ADMINISTRATIVE ASSISTANT. FORM 990, PART VI, SECTION B, LINE 15 THE HR MANAGER OBTAINS PAY INFORMATION FOR ALL POSITIONS INCLUDING TOP PERSONNEL. SHE REVIEWS OUR SALARIES AND MAKES RECOMMENDATIONS TO RLA AND SENIOR MANAGEMENT FOR ADJUSTMENTS TO THE PAY BAND. RLA AND MANAGEMENT REVIEWS THE RECOMMENDATIONS AND MAKE APPROPRIATE CHANGES. THE CHANGES ARE MADE IN THE NEXT FISCAL YEAR BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PROVIDES COPIES OF ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS UPON REQUEST AT ITS OFFICES. FORM 990 PART VII THE $759,907 IN TOTAL COMPENSATION FROM THE ORGANIZATION TO ITS PRESIDENT STANLEY G. BRADING FOR THE YEAR 2021, AS REFLECTED IN SCHEDULE J, PART II, LINE (1), CONSISTS OF THE FOLLOWING: 1. $279,600 IN BASE COMPENSATION FOR SERVICES RENDERED BY MR. BRADING DURING THE YEAR 2021; 2. $425,000 IN INCENTIVE COMPENSATION, REPRESENTING THE PAYMENT IN 2021 OF DEFERRED COMPENSATION FOR SERVICES RENDERED BY MR. BRADING FROM 2017 THROUGH 2021, THE PAYMENT OF WHICH WAS CONTRACTUALLY CONTINGENT UPON THE ORGANIZATION'S ACHIEVEMENT OF CERTAIN MILESTONES PERTAINING TO THE FINANCING OF THE ORGANIZATION'S PHASE II 'HIGHVIEW" EXPANSION PROJECT (WITH ACHIEVEMENT OF THE FINANCING MILESTONES DEPENDENT UPON THE ORGANIZATION'S SATISFACTION OF NUMEROUS DEVELOPMENT, MARKETING, FINANCIAL, AND GOVERNMENTAL APPROVAL CRITERIA AS RELATING TO THE EXPANSION PROJECT); AND 3. $55,307 IN NONTAXABLE BENEFITS FOR SERVICES RENDERED BY MR. BRADING DURING THE YEAR 2021. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.