2022-11-15T13:07:24-06:00 2021-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2021-01-01 113277669 PECONIC LANDING AT SOUTHOLD INC PECO 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 6314773800 2022-11-15 1 ROBERT SYRON XXX-XX-XXXX EVA MRUK P00543254 9143818900 2022-11-13 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z ROBERT SYRON 1500 BRECKNOCK ROAD GREENPORT NY 11944 56711228 0 4305 X WWW.PECONICLANDING.ORG X 1994 NY PECONIC LANDING STRIVES TO BE A PREEMINENT SENIOR SERVICES PROVIDER. GUIDED BY OUR CORE VALUES, AND PHILOSOPHY OF INNOVATION, WE ARE COMMITTED TO WORK IN PARTNERSHIP WITH ALL TO ACHIEVE OUR VISION. 15 14 370 18 0 0 2488220 3754591 26371089 26868403 887613 1864575 2013274 4087517 31760196 36575086 0 20350 0 0 17888308 17216596 0 0 21762 15141811 14931247 33030119 32168193 -1269923 4406893 146692717 144140145 185458826 179346891 -38766109 -35206746 X PECONIC LANDING STRIVES TO BE ONE OF THE PREEMINENT CONTINUING CARE RETIREMENT COMMUNITIES IN THE UNITED STATES. WE ARE ACHIEVING OUR GOALS BY OPERATING AS A PARTNERSHIP WITH RESIDENTS, BOARD OF TRUSTEES, MANAGEMENT AND STAFF. 0 0 26985682 20350 26868403 PECONIC LANDING, WE STRIVE TO BRING TOGETHER INDIVIDUALS OF ALL AGES AND ABILITIES BY SERVING AS A VIBRANT COMMUNITY CENTER AND CULTURAL ARTS HUB FOR THE EAST END. THROUGH OUR INNOVATIVE SOCIAL ACCOUNTABILITY PROGRAM, INDIVIDUALS CAN IMMERSE THEMSELVES IN A GREAT VARIETY OF CULTURAL, EDUCATIONAL, WELLNESS, AND HELPFUL OPPORTUNITIES AVAILABLE FREE TO THE PUBLIC THAT ARE DESIGNED TO INSPIRE AND ENGAGE. EACH EVENT IS HOSTED WITH THE PURPOSE OF ENRICHING THE LIVES OF THOSE WHO TAKE PART. OUR COMMUNITY DOES THIS WITH ONE COMMON GOAL IN MIND: TO MAKE A POSITIVE, MEASURABLE IMPACT, IMPROVING QUALITY OF LIFE FOR THOSE WHO WORK AND LIVE ON THE EAST END.THE FOLLOWING EVENTS TOOK PLACE IN 2021 FOR THE RESIDENTS OF PECONIC LANDING:JOHN MAY MILE: IN CELEBRATION OF OLDER AMERICAN'S MONTH, WE HOSTED THIS ANNUAL 5K RACE AND 1-MILE WALK TO BENEFIT THE GREENPORT FIRE DEPARTMENT. IN 2021, WE HOSTED APPROX. 300 ATTENDEES, LOWER THAN YEARS PAST, WHICH COULD BE THE RESULT OF A BREAK IN 2020 DUE TO COVID-19. UNLIKE IN PREVIOUS YEARS WHERE WE SERVED UP A BARBECUE, IN 2021 WE INVITED FOOD TRUCKS FOR FOOD SAFETY AS WELL AS HOSTED A FARMER'S MARKET AND CRAFTS SALE FOR LOCAL VENDORS. SINCE 2005, PL HAS SPONSORED AND HOSTED THIS ANNUAL FUNDRAISER, DONATING IN EXCESS OF $220K TO THE FIRE DEPARTMENT. THE FUNDS HAVE HELPED THE DEPARTMENT PURCHASE, REFURBISH AND MAINTAIN VITAL SAFETY EQUIPMENT. METROPOLITAN OPERA: ONCE A MONTH FOR 8 MONTHS, WE SIMULCAST THE METROPOLITAN OPERA SEASON FROM THE MET DIRECTLY IN OUR OWN THEATER. EACH OPERA BOASTS ATTENDANCE OF BETWEEN 120-150 MEMBERS WHO VIEW THE LIVE SHOWING OF EACH PERFORMANCE OF THE SEASON FROM THE MET. WITH SPECIALLY INSTALLED AUDIO TO PROVIDE THE BEST QUALITY AUDIO AND HD FOR VISUAL QUALITY. 26985682 1 1 0 1 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 54 0 370 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X ROBERT SYRON 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 40.00 5.00 X X 393810 0 56417 PAUL MAY CHAIRPERSON 1.00 0.00 X X 0 0 0 PAUL J CONNOR VICE CHAIR 1.00 0.00 X X 0 0 0 EDWARD WELLINGTON WEBB II SECRETARY 1.00 1.00 X X 0 0 0 GREGORY FERRARIS TREASURER 1.00 0.00 X X 0 0 0 ROSAMOND BAIZ DIRECTOR 1.00 0.00 X 0 0 0 REBECCA A CHAPMAN DIRECTOR 1.00 0.00 X 0 0 0 FRANK DIBERNARDIS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT GOLDMAN DIRECTOR 1.00 1.00 X 0 0 0 CAROL HANCE DIRECTOR 1.00 0.00 X 0 0 0 THOMAS MCCARTHY DIRECTOR 1.00 1.00 X 0 0 0 EILEEN MCGUIRE DIRECTOR 1.00 2.00 X 0 0 0 SANDRA NOVICK DIRECTOR 1.00 0.00 X 0 0 0 DONALD T RUSSO DIRECTOR 1.00 2.00 X 0 0 0 CLAUDIA WARD DIRECTOR 1.00 0.00 X 0 0 0 LISA QUINN DIRECTOR OF FINANCE 40.00 5.00 X 160042 0 43059 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 40.00 4.00 X 265515 0 59090 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 40.00 0.00 X 188577 0 33681 PATRICIA LUTZKY V.P. RESIDENT SERVICES 40.00 5.00 X 165158 0 21391 WILLIAM BJORNHOLM DIR. OF FINE DINING 40.00 0.00 X 148072 0 30961 JANE WILLSEY DIRECTOR OF HUMAN RESOURCE 40.00 0.00 X 137728 0 30053 LAURELLE CASSONE DIRECTOR OF MARKETING 40.00 0.00 X 145278 0 7060 1604180 0 281712 14 0 1 0 FLANDERS HEATING AND AIR CONDITIONING 219 W MONTAUK HWY HAMPTON BAYS NY 11946 HVAC SERVICES 334218 CHAREL CONTRACTING INC 1 BRITTANY WAY RONKONKOMA NY 11779 CONTRACTOR SERVICES 318725 GEORGE'S PAINTING INC PO BOX 229 PECONIC NY 11958 PAINTING SERVICES 303701 AMERICAN BATH & TILE CO 51 WAVERLY AVENUE SMITHTOWN NY 11787 PAINTING SERVICES 209749 BRIGHTVIEW LANDSCAPES LLC PO BOX 740655 ATLANTA GA 30374 LANDSCAPING SERVICES 168895 16 30091 3079086 645414 2312 3754591 PRIVATE PATIENT REVENUE 623000 22161988 22161988 MEDICARE REVENUE 623000 2120734 2120734 ENRICHED HOUSING TRANSFER 900099 1660822 1660822 RENTAL REVENUE 531110 713025 713025 MEDICAID REVENUE 623000 211834 211834 26868403 426196 426196 81289 81289 41979 0 41979 41979 41979 21480496 20123406 1357090 1357090 1357090 0 30091 12736 -12736 -12736 2995 0 2995 2995 REMARKETING FEE 900099 1980052 1980052 ABATEMENT OF PROPERTY TAXES 900099 840000 840000 LEGAL SETTLEMENT 900099 432952 432952 802275 802275 4055279 36575086 26868403 0 5952092 20350 20350 977936 826592 150564 780 19058 19058 11689780 9876736 1802710 10334 398472 336805 61350 317 2749081 2323637 423253 2191 1382269 1168351 212816 1102 187747 187747 151402 151402 305 305 64327 64327 575753 519277 56476 139121 11496 127625 822762 611020 211742 270671 125762 144909 3249988 3077464 172524 22972 11348 11624 12087 7581 4506 590397 590397 4217897 4217897 262257 36466 225791 DIETARY SUPPLIES 1557827 1557827 PURCHASED & CONTRACTED 1097991 722930 375061 BAD DEBT EXPENSE 723661 723661 REPAIRS & MAINTENANCE 526078 524923 1155 458004 399765 51201 7038 32168193 26985682 5160749 21762 1204199 1372330 12119123 10303195 472500 600693 3485576 3311576 1228898 1796119 141389 147013 576621 328653 95674352 49593080 47064052 46081272 55137709 55153509 25262650 25045785 146692717 144140145 3014187 4761851 6710829 6774503 43775291 42558211 14395382 15561396 117563137 109690930 185458826 179346891 X -40021914 -36056613 1255805 849867 -38766109 -35206746 146692717 144140145 4406893 -847530 0 X X 0 1 X 1 0 X 1587572 818008 1110605 2488220 3754591 9758996 24603113 25164185 26734472 26371089 26868403 129741262 26190685 25982193 27845077 28859309 30622994 139500258 50 50 0 50 50 139500208 864619 915828 962099 813261 549464 4105271 864619 915828 962099 813261 549464 4105271 1943648 2218645 1961554 1997144 4055279 12176270 28998952 29116666 30768730 31669714 35227737 155781799 0.89550 0.89740 0.02640 0.03060 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC INCOME - 2017 AMOUNT: $ 80,198. 2018 AMOUNT: $ 76,807. 2019 AMOUNT: $ 3,420. 2020 AMOUNT: $ 8,415. 2021 AMOUNT: $ 22,394. REMARKETING FEE - 2017 AMOUNT: $ 1,252,173. 2018 AMOUNT: $ 1,368,912. 2019 AMOUNT: $ 1,097,699. 2020 AMOUNT: $ 1,423,479. 2021 AMOUNT: $ 1,980,052. GUEST ROOM MEALS - 2017 AMOUNT: $ 145,266. 2018 AMOUNT: $ 169,013. 2019 AMOUNT: $ 170,806. 2020 AMOUNT: $ 23,489. 2021 AMOUNT: $ 69,183. LATE FEES - 2017 AMOUNT: $ 215,896. 2018 AMOUNT: $ 279,950. 2019 AMOUNT: $ 341,532. 2020 AMOUNT: $ 301,736. 2021 AMOUNT: $ 375,954. REAL ESTATE ASSESSMENT - 2017 AMOUNT: $ 40,936. 2018 AMOUNT: $ 39,163. 2019 AMOUNT: $ 38,731. 2020 AMOUNT: $ 38,793. 2021 AMOUNT: $ 35,463. PARKING INCOME - 2017 AMOUNT: $ 12,885. 2018 AMOUNT: $ 19,858. 2019 AMOUNT: $ 16,837. 2020 AMOUNT: $ 8,232. 2021 AMOUNT: $ 21,255. CONVENIENCE STORE - 2017 AMOUNT: $ 69,379. 2018 AMOUNT: $ 75,216. 2019 AMOUNT: $ 77,736. 2020 AMOUNT: $ 126,424. 2021 AMOUNT: $ 89,834. BEAUTY SHOP - 2017 AMOUNT: $ 15,519. 2018 AMOUNT: $ 16,180. 2019 AMOUNT: $ 18,741. 2020 AMOUNT: $ 7,393. 2021 AMOUNT: $ 10,381. TELEVISION INCOME - 2017 AMOUNT: $ 19,859. 2018 AMOUNT: $ 16,728. 2019 AMOUNT: $ 7,869. 2020 AMOUNT: $ 11,748. 2021 AMOUNT: $ 11,197. CAFETERIA INCOME - 2017 AMOUNT: $ 82,902. 2018 AMOUNT: $ 103,424. 2019 AMOUNT: $ 126,297. OPTIONS UPGRADES - 2017 AMOUNT: $ 8,635. 2018 AMOUNT: $ 6,248. 2019 AMOUNT: $ 20,238. 2020 AMOUNT: $ 8,583. 2021 AMOUNT: $ 24,749. ABATEMENT OF PROPERTY TAXES - 2021 AMOUNT: $ 840,000. INSURANCE SETTLEMENTS - 2018 AMOUNT: $ 47,146. 2019 AMOUNT: $ 41,648. 2020 AMOUNT: $ 38,852. 2021 AMOUNT: $ 128,265. LEGAL SETTLEMENT - 2021 AMOUNT: $ 432,952. REFUNDS AND REBATES - 2021 AMOUNT: $ 13,600. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 305 305 0 PART II-B, LINE 1: AMOUNTS REPORTED ON LINE 1I REPRESENTS THE PORTION OF MEMBERSHIP DUES PAID BY THE ORGANIZATION TO PROFESSIONAL ASSOCIATIONS AND SIMILAR ORGANIZATIONS ATTRIBUTABLE TO LOBBYING ACTIVITIES. 0 1 X 514294 1101 14972 500423 510021 5558 1285 514294 500135 28691 18805 510021 501265 -1130 500135 500000 1265 501265 0.00000 0.99915 0.00085 0 0 11034275 11034275 64562194 35301452 29260742 18897418 14291628 4605790 1180465 1180465 46081272 INV. IN PECONIC LANDING HOUSING 55153509 C 55153509 ASSETS LIMITED TO USE 20737655 OTHER FINANCING COST, NET 503151 DUE FROM RELATED PARTIES 2404949 FUNDED PENSION COSTS 1400030 25045785 REFUNDABLE DEPOSIT/ACCRUED INT 107631637 OPTIONS & UPGRADE LIABILITY 498134 BOND INTEREST PAYABLE 161129 DEFERRED COMPENSATION LIABILITY 1400030 109690930 X 39386772 -847530 6821051 5973521 33413251 64327 3097508 3161835 36575086 38427537 9421179 9421179 29006358 64327 3097508 3161835 32168193 PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNTS REPRESENT THE ESCROW TO BE USED TO PURCHASE ANOTHER COOPERATIVE UNIT IF THE RESIDENT CAN LIVE INDEPENDENTLY AGAIN OR BE PAID UPON A RESIDENT'S DEATH TO THE RESIDENT'S ESTATE, AS DIRECTED BY THE RESIDENT'S WILL. PART V, LINE 4: AN ENDOWMENT FUND WAS FORMED FOR THE BENEFIT OF THE MEMORY SUPPORT NEIGHBORHOOD. PART X, LINE 2: THE COMPANY FILES INCOME TAX RETURNS IN THE U.S. FEDERAL AND NEW YORK STATE JURISDICTIONS AND RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2018. THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 6,808,315. FUNDRAISING EXPENSE REPORTED ON PART VIII 12,736. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 1,660,822. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 713,025. BAD DEBT EXPENSE REPORTED ON PART IX 723,661. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 9,408,443. FUNDRAISING EXPENSE REPORTED ON PART VIII 12,736. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 1,660,822. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 713,025. BAD DEBT EXPENSE REPORTED ON PART IX 723,661. JOHN MAY-MILE 5K RUN 30091 30091 12736 30091 30091 12736 12736 -12736 1 GREENPORT FIRE DEPARTMENT 236 3RD AVENUE GREENPORT NY 11944 113429066 501(C)(3) 20350 0 GENERAL SUPPORT 1 0 PART I, LINE 2: FUNDS WERE RAISED VIA A FUNDRAISING EVENT TO SUPPORT LOCAL CHARITIES IN THE AREA, IN FURTHERANCE OF ITS MISSION. X 0 0 X X X X 0 1 0 0 0 0 0 0 0 ROBERT SYRON PRESIDENT/CEO 369028 0 0 0 24782 0 29691 0 26726 0 450227 0 0 0 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 245490 0 0 0 20025 0 19816 0 39274 0 324605 0 0 0 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 168990 0 0 0 19587 0 6990 0 26691 0 222258 0 0 0 LISA QUINN DIRECTOR OF FINANCE 148765 0 0 0 11277 0 6671 0 36388 0 203101 0 0 0 PATRICIA LUTZKY V.P. RESIDENT SERVICES 142886 0 0 0 22272 0 6628 0 14763 0 186549 0 0 0 WILLIAM BJORNHOLM DIR. OF FINE DINING 134687 0 0 0 13385 0 5132 0 25829 0 179033 0 0 0 JANE WILLSEY DIRECTOR OF HUMAN RESOURCE 123755 0 0 0 13973 0 4265 0 25788 0 167781 0 0 0 LAURELLE CASSONE DIRECTOR OF MARKETING 144567 0 0 0 711 0 5783 0 1277 0 152338 0 0 0 PART I, LINE 1A PECONIC LANDING AT SOUTHOLD, INC. PAYS THE HEALTH CLUB DUES FOR ROBERT SYRON, PRESIDENT/CEO, GREGORY GARRETT, EXECUTIVE VP - ADM. HEALTH, AND JANE WILLSEY, DIRECTOR OF HUMAN RESOURCES. THE AMOUNT OF DUES IS TAXABLE AND INCLUDED IN THE FORMS W-2 OF THE INDIVIDUALS. PART I, LINE 4B ROBERT SYRON AND GREGORY GARRETT PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THEY RECEIVED AN EMPLOYER CONTRIBUTION ON THEIR BEHALF IN THE AMOUNT OF $18,091 AND $8,818 IN 2021. A SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RDK7 2020-12-01 22325000 REFUNDING OF 2010 BONDS 0 0 0 B SOUTHOLD LOCAL DEVELOPMENT CORPORATION 471450671 844584AL6 2015-03-05 20229958 EXPANSION & RENOVATION OF ASSISTED LIVING & NURSING RESIDENCES & COMM. CTR 0 0 0 C SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RDB7 2019-12-12 1965000 REFUNDING 2010 SERIES BONDS 0 0 0 A 620000 22392283 2191358 121834 20011808 2020 1 0 1 1 B 1285000 20390623 1278721 404599 17732285 975018 2015 1 0 1 1 C 65000 1965431 200204 1765227 2020 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 1 GE CAPITAL CORPORATION 30.000000000000 1 0 1 A 1 B 1 C 1 SCHEDULE K, PART II, LINE 3 - ALL LISTED BONDS ON SCHEDULE K: IF THE TOTAL PROCEEDS OF THE ISSUE EXCEEDS THE ISSUE PRICE OF EACH RESPECTIVE BOND, THE DIFFERENCE IS DUE TO INVESTMENT EARNINGS THROUGH THE YEAR PLACED IN SERVICE. INVESTMENT EARNINGS ARE INCLUDED IN THE TOTAL PROCEEDS OF EACH ISSUE. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE MEETS WITH A DESIGNATED BOARD MEMBER WHO HAS BEEN ASSIGNED BY OTHER BOARD MEMBERS TO REVIEW THE FORM 990. THE FORM 990 IS PRESENTED TO THE DESIGNATED BOARD MEMBER AND THE FULL EXTENT OF THE FORM AND ITS PREPARATION IS EXPLAINED AT THE TIME. THE DESIGNATED BOARD MEMBER THEN REVIEWS AND APPROVES THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT A MEMBER OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC., OR THE MEMBER'S SPOUSE, CHILD, PARENT OR SIBLING, AS A RESULT OF A TRANSACTION, INVESTMENT OR ACTIVITY (HEREIN REFERRED TO AS A MATTER) WITH OR INVOLVING PECONIC LANDING AT SOUTHOLD, INC., PECONIC LANDING HOUSING ASSOCIATION COOPERATIVE, INC., PECONIC LANDING FOUNDATION, INC. (REFERRED TO IN THE AGGREGATE AS PECONIC LANDING) WILL RECEIVE ANY PROFIT OR GAIN, WHETHER DIRECTLY OR INDIRECTLY, THEN THE MEMBER SHALL PROMPTLY DISCLOSE THAT INTEREST TO THE BOARD AND SHALL NOT PARTICIPATE IN ANY DECISION ON SUCH A MATTER. THE MEMBER SHALL NOT VOTE ON, AND SHALL REMOVE HIM OR HERSELF FROM THE MEETING DISCUSSING SUCH A MATTER. THE MEMBER SHALL ALSO DISCLOSE ANY KNOWN SIGNIFICANT REASON(S) THAT SUCH A MATTER MIGHT NOT BE IN THE BEST INTERESTS OF PECONIC LANDING. THE MEMBER'S ABSTENTION FROM THE MEETING AND VOTE AND THE REASON FOR IT WILL BE RECORDED IN THE MINUTES OF ANY MEETING AT WHICH SUCH A MATTER OR MATTERS ARE DISCUSSED. EACH MEMBER IS REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE STATEMENT AT THE BEGINNING OF EACH CALENDAR YEAR, AND WITHIN THIRTY (30) DAYS FOLLOWING THE EFFECTIVE DATE OF THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 PHILOSOPHY REGARDING EXECUTIVE COMPENSATION - THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC. SHALL HAVE THE RESPONSIBILITY FOR ESTABLISHING ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION. THE BOARD RECOGNIZES THAT IT IS CHARGED WITH ESTABLISHING A TOTAL COMPENSATION PACKAGE NECESSARY TO ATTRACT THE BEST TALENT POSSIBLE WHILE BEING FULLY COGNIZANT OF ITS FIDUCIARY RESPONSIBILITY TO THE ORGANIZATION. THE BOARD, THEREFORE, ASSURES THAT DECISIONS INVOLVING EXECUTIVE COMPENSATION SHALL BE REASONABLE AND MEET THE REQUIREMENTS FOR A TAX-EXEMPT ENTITY, WHICH ARE: (1) COMPENSATION SHALL BE BASED ON RELIABLE MARKET COMPARABILITY DATA; (2) THE BASIS TO SUPPORT EXECUTIVE COMPENSATION SHALL BE DOCUMENTED; AND (3) ALL MATTERS RELATED TO EXECUTIVE COMPENSATION ARE MADE FREE FROM ANY DIRECT OR INDIRECT CONFLICTS OF INTEREST, COMPENSATION NEGOTIATION - THE COMPENSATION COMMITTEE SHALL NEGOTIATE ON BEHALF OF THE BOARD ALL MATTERS OF EXECUTIVE COMPENSATION, INCLUDING BASE WAGE, INCENTIVES, BONUSES, MERIT INCREASES, PREREQUISITES, AND BENEFITS. THE COMPENSATION COMMITTEE SHALL HAVE THE AUTHORITY TO NEGOTIATE ON BEHALF OF THE BOARD IN MATTERS RELATING TO COMPENSATION. DOCUMENTATION OF THIS PROCESS WILL BE KEPT ON FILE INCLUDING: (1) DATA OR SOURCES USED IN DETERMINING COMPENSATION RECOMMENDATIONS; (2) A REVIEW OF EXECUTIVE PERFORMANCE; AND (3) FULL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE COMPENSATION COMMITTEE SHALL MAKE ASSURANCE THAT FINAL EXECUTIVE COMPENSATION RECOMMENDATIONS ARE INDEPENDENTLY APPROVED BY COMMITTEE MEMBERS ACTING ON BEHALF OF THE BOARD IN A NON-CONFLICT OF INTEREST POSITION. BASIS FOR EXECUTIVE COMPENSATION - TO ENSURE THE REASONABLENESS OF EXECUTIVE COMPENSATION, IT WILL BASE AND DOCUMENT ITS RECOMMENDATIONS ON THE FOLLOWING CRITERIA: MARKET DATA COMPARISONS; FUNCTIONAL REQUIREMENTS OF THE POSITION; CURRENT MARKET HEADS; REGIONAL ECONOMIC INDICATORS; EDUCATION, CAREER BACKGROUND; AND EXPERIENCE OF THE PERSON IN THE POSITION. THE COMPENSATION COMMITTEE MAY SEEK ADVICE AND COUNSEL FROM EXTERNAL, UNRELATED SOURCES INCLUDING, BUT NOT LIMITED TO: MANAGEMENT CONSULTANTS, EXECUTIVE RECRUITERS, NATIONAL AND STATE ORGANIZATIONS SUCH AS AAHSA AND NYAHSA, SALARY RESEARCH RESOURCES AND DATA BASES, AND OTHER SOURCES WHICH MAY PROVIDE ACCURATE, RELIABLE, VERIFIABLE WAGE DATA. COMPENSATION CONCERNING INCENTIVES AND BONUSES SHALL BE BASED ON QUANTITATIVE PERFORMANCE CRITERIA APPLIED TO THE ACHIEVEMENT OF PRE-ESTABLISHED GOALS. MERIT INCREASES SHALL BE MADE AT THE DISCRETION OF THE BOARD CHAIR, VICE CHAIR, AND CHAIR OF THE FINANCE COMMITTEE, COMPENSATION COMMITTEE, ON BEHALF OF THE BOARD BASED ON PERFORMANCE IMPROVEMENT OVER A SPECIFIED PERIOD OF TIME. BENEFITS, INCLUDING HEALTH INSURANCE, LIFE INSURANCE, VACATION AND OTHER TIME OFF, SHALL BE PROPORTIONATE WITH THE BENEFITS POLICIES AND PACKAGES IN EFFECT FOR LEADERSHIP PERSONNEL AT PECONIC LANDING AT SOUTHOLD, INC. ON THE EFFECTIVE DATE OF BOARD APPROVAL OF THE TOTAL COMPENSATION PACKAGE. DOCUMENTATION CONCERNING EXECUTIVE COMPENSATION - ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION MUST BE IN WRITTEN FORM. THE COMPENSATION DETERMINATION PROCESS WAS LAST UNDERTAKEN IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, CONFLICT OF INTEREST POLICY, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. 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. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. BRECKNOCK HALL FOUNDATION 1500 BRECKNOCK ROAD GREENPORT NY 11944 200350364 RENTAL OF HALL NY 501(C)(3) PF PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOME HEALTH SERVICES INC 1500 BRECKNOCK ROAD GREENPORT NY 11944 454566737 HOME HEALTH SERVICES NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 THE SHORES AT PECONIC LANDING ASSISTED LIVING RESIDENCE 1500 BRECKNOCK ROAD GREENPORT NY 11944 454977274 ASSISTED LIVING NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP 1500 BRECKNOCK ROAD GREENPORT NY 11944 020575501 HOUSING ASSOCIATION NY PECONIC LANDING AT SOUTHOLD INC C 3993304 35431889 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP A 713025 COST THE SHORES AT PECONIC ASSISTED LIVING RESIDENCE INC S 1660822 COST PECONIC LANDING HOME HEALTH SERVICES INC Q 103351 COST FORM 990, SCHEDULE R, PART V, LINE 1A: PECONIC LANDING AT SOUTHOLD, INC. RECEIVED RENTAL INCOME, WHICH IS A SPECIFIED PAYMENT, FROM ITS CONTROLLED SUBSIDIARY. THESE PAYMENTS WERE MADE AT ARM'S LENGTH AND MEET THE FAIR MARKET VALUE STANDARD. RELATED PARTY TRANSACTIONS: ON NOVEMBER 28, 2000, THE COMPANY AND THE COOPERATIVE ENTERED INTO A LEASE AGREEMENT RELATED TO THE INITIAL 250 INDEPENDENT LIVING UNITS. UNDER THE TERMS OF THE LEASE, THE COMPANY AGREED TO LEASE A PORTION OF ITS REAL PROPERTY TO THE COOPERATIVE. IN ADDITION, THE LEASE SPECIFIES THAT THE COMPANY AGREES TO CONSTRUCT AND FURNISH ON THE REAL PROPERTY CERTAIN BUILDINGS, IMPROVEMENTS AND FURNISHINGS AND TO TRANSFER TITLE TO THESE SPECIFIED RESIDENTIAL IMPROVEMENTS FOR AND IN CONSIDERATION OF ALL AUTHORIZED AND UN-ISSUED SHARES OF THE COOPERATIVE. PURSUANT TO THE TERMS OF THE EXECUTED LEASE, THE COMPANY OWNS THE LAND, THE COMMUNITY CENTER, AND THE HEALTH CARE CENTER AND THE COOPERATIVE OWNS THE SPECIFIED RESIDENTIAL IMPROVEMENTS. THE LEASE TERM IS 99 YEARS AND THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT, NOT TO EXCEED AN ANNUAL RENT OF $675,000 IN ANY CALENDAR YEAR DURING THIS PERIOD. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. ON MARCH 15, 2015, THE COMPANY AND THE COOPERATIVE ENTERED INTO A SECOND LEASE AGREEMENT RELATED TO 46 ADDITIONAL INDEPENDENT UNITS ON A PORTION OF COMPANY'S LAND. THE LEASE TERM IS 99 YEARS AND IS TO BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL TERM OF 99 YEARS. THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. THESE LEASES PROVIDE THAT THE COOPERATIVE MUST USE THE PROPERTY ONLY FOR THE PURPOSE OF PROVIDING HOUSING TO MEMBERS WHO ENTER INTO CARE AGREEMENTS WITH THE COMPANY. THE COOPERATIVE DOES NOT HAVE THE RIGHT TO REMOVE THE RESIDENTIAL IMPROVEMENTS WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. THESE LEASES MAY ONLY BE TERMINATED WITH THE APPROVAL OF THE NEW YORK STATE CONTINUING CARE RETIREMENT COMMUNITY COUNCIL, OR ITS SUCCESSOR STATE AGENCY. IN THE EVENT OF DEFAULT UNDER THE LEASE AGREEMENT, THE RESIDENTIAL IMPROVEMENTS VEST WITH THE COMPANY. LEASE AND SERVICES AGREEMENTS BETWEEN THE COMPANY AND THE SHORES IN AUGUST 2013 AND JUNE 2014, THE COMPANY ENTERED INTO A LEASE AGREEMENT AND A LICENSE AGREEMENT WITH THE SHORES WHEREBY THE COMPANY LEASED THE ASSISTED LIVING RESIDENCE PORTION OF ITS REAL PROPERTY TO THE SHORES AND LICENSED IT TO OPERATE THE ENRICHED HOUSING PROGRAM. PURSUANT TO EACH AGREEMENT, THE SHORES AGREED TO PAY THE COMPANY $1 ANNUALLY. ADDITIONALLY, UNDER THE LEASE AGREEMENT THE SHORES WILL PAY TO THE COMPANY ALL INCOME GENERATED FOR THE CARE OF RESIDENTS OF THE ENRICHED HOUSING PROGRAM AND ANY OTHER INCOME FROM ANY OTHER SOURCE. THE TERM OF EACH AGREEMENT IS 99 YEARS AND THEREAFTER CAN BE AUTOMATICALLY RENEWED FOR SUCCESSIVE TERMS OF 99 YEARS PROVIDED THE SHORES SHALL BE IN COMPLIANCE WITH TERMS AND CONDITIONS OF THE AGREEMENTS. IN CONJUNCTION WITH THE ABOVE AGREEMENTS, THE COMPANY ALSO ENTERED INTO A MANAGEMENT AND A MAINTENANCE AND SERVICES AGREEMENT WITH THE SHORES. PURSUANT TO THE TERMS OF THESE AGREEMENTS, THE COMPANY IS RESPONSIBLE TO PROVIDE OVERSIGHT, MANAGEMENT AND MAINTENANCE SERVICES TO ENSURE QUALITY OPERATION AND ADMINISTRATION OF THE ENRICHED HOUSING PROGRAM. THE TERM OF THE AGREEMENT IS FOR FIVE YEARS STARTING MAY, 2016 AND RENEWS EVERY FIVE YEARS UNTIL CANCELLED BY THE BOARDS OF THE COMPANY AND THE SHORES OR NYSDOH.