2022-11-03T15:03:37-05:00 2021-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-01-01 232499121 WHITE HORSE VILLAGE INC WHIT 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 MARK WASSERMAN VP OF FINANCE AND CFO 6105585000 2022-10-27 1 MARK WASSERMAN 999009999 KERRI N BOGDA CPA P00760402 7177404863 2022-10-17 X 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z LEN WEISER 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 44509523 0 X WWW.WHITEHORSEVILLAGE.ORG X 1989 PA CONTINUING CARE RETIREMENT COMMUNITY WITH A CONTINUUM OF CARE 15 15 522 52 19428 7279 934466 177143 38509160 39288058 -99907 1226196 680467 541790 40024186 41233187 278948 0 0 0 15336639 16028479 0 0 0 20498944 19628992 36114531 35657471 3909655 5575716 135101224 142126784 119796378 116353483 15304846 25773301 X WE INTENTIONALLY CREATE OPPORTUNITIES FOR EXTRAORDINARY LIVING IN A VIBRANT, DIVERSE COMMUNITY THROUGH PERSONAL GROWTH, CONNECTEDNESS, AND RELATIONSHIPS. 0 0 29184252 0 39288058 LOCATED ON NEARLY ONE HUNDRED ACRES IN NEWTOWN SQUARE, PA, WHITE HORSE VILLAGE OFFERS A BEAUTIFUL, TRANQUIL SETTING SURROUNDED BY URBAN CENTERS AND NEARBY ATTRACTIONS, INCLUDING NEIGHBORING RIDLEY CREEK STATE PARK, LONGWOOD GARDENS, VALLEY FORGE NATIONAL HISTORICAL PARK, KING OF PRUSSIA MALL, AND CENTER CITY PHILADELPHIA. RESIDENTS ENJOY AN ABUNDANCE OF RECREATIONAL OPPORTUNITIES WITH THE CONVENIENCE OF MANY ON-SITE SERVICES, FROM BANKING TO SALON, AT THEIR FINGERTIPS.WHITE HORSE VILLAGE IS AN ACTIVE SENIOR LIVING COMMUNITY OFFERING 331 INDEPENDENT RESIDENCE OPTIONS, AND A TWO-STORY HEALTHCARE CENTER FEATURING 57 PRIVATE SKILLED NURSING ROOMS, 48 PERSONAL CARE SUITES, AND 20 PRIVATE ROOMS IN A MEMORY SUPPORT NEIGHBORHOOD. WE ARE PROGRESSIVE IN OUR THOUGHTS AND ACTIONS AND PASSIONATE ABOUT LEADING THE WAY IN OUR APPROACH TO INNOVATIVE AND SUSTAINABLE LIVING. AS A NONPROFIT ORGANIZATION, WHITE HORSE VILLAGE REINVESTS EARNINGS BACK INTO THE ORGANIZATION TO FURTHER OUR MISSION AND VISION.WHITE HORSE VILLAGE INC. PROVIDES CARE UNDER LIFE CARE CONTRACTS TO APPROXIMATELY 500 ADULTS, ALL OVER THE AGE OF 62. UNDER THESE CONTRACTS, WHITE HORSE VILLAGE INC. PROVIDES HOUSING, MEALS, UTILITIES, MAINTENANCE, AND CERTAIN MEDICAL SERVICES TO THESE RESIDENTS. AS PART OF ITS EFFORTS TO SUPPORT THE SURROUNDING COMMUNITY, WHV HAS INVITED THE RESIDENTS OF A NEIGHBORING 55 AND OVER COMMUNITY TO PARTICIPATE IN WHV'S LIFESTYLE AND EVENTS. WHV COLLECTS A MODEST MONTHLY FEE FROM THE 55 AND OVER COMMUNITY AND IN EXCHANGE, ITS RESIDENTS GAIN ACCESS TO WHV'S WELLNESS PROGRAMS AND OUTPATIENT CLINIC WHERE THEY CAN RECEIVE MEDICAL TREATMENT INCLUDING VACCINATIONS FOR COVID19 AND THE FLU. 29184252 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 91 0 522 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X MARK WASSERMAN VP OF FINANCE AND C 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 SHIRLEY WEAVER CHAIR 1.00 X X 0 0 0 PAMELA L HANSEN VICE CHAIR & SECRETARY 1.00 1.00 X X 0 0 0 MICHAEL MAGNAVITA CPA TREASURER 1.00 X X 0 0 0 MICHAEL BREAULT DIRECTOR 1.00 1.00 X 0 0 0 ROBERT J BRUCE DIRECTOR 1.00 1.00 X 0 0 0 HELENA I CIECHANOWSKI JD DIRECTOR 1.00 X 0 0 0 MICHAEL HAMMOND DIRECTOR 1.00 1.00 X 0 0 0 LOUISE HUMMEL DIRECTOR (UNTIL JUNE 2021) 1.00 1.00 X 0 0 0 DIKRAN KASSABIAN DIRECTOR 1.00 X 0 0 0 WILLIAM KENNEDY JD DIRECTOR 1.00 X 0 0 0 ESTHER R LAURY PHD DIRECTOR 1.00 X 0 0 0 MARY LOU MCLAUGHLIN DIRECTOR 1.00 1.00 X 0 0 0 GREGORY NOWELL AIA CCM DIRECTOR 1.00 X 0 0 0 ALBERT M RAYMOND DIRECTOR 1.00 X 0 0 0 JOHN C YOUNG DIRECTOR (UNTIL SEPT. 2021) 1.00 X 0 0 0 SARAH OWENS DIRECTOR 1.00 X 0 0 0 URSULA SIEBENEICH DIRECTOR 1.00 X 0 0 0 LEONARD WEISER PRESIDENT/CEO 40.00 0.00 X 350662 0 38798 MARK WASSERMAN VP OF FINANCE & CFO 40.00 X 223904 0 42525 ROBERT J HIGGINS VP PROPERTY & FACILITIES 40.00 X 206315 0 31743 TINA BOUKALIS VP RESIDENT SERVICES 40.00 X 200896 0 31513 SUSAN ABTOUCHE VP MISSION ENHANCEMENT 40.00 X 162311 0 30200 BRITTANY BROWN NURSING HOME ADMINISTRATOR 40.00 X 142245 0 0 MAX ROMULUS MANAGER OF IT 40.00 X 113848 0 12260 JENNIFER FERGUSON DIRECTOR OF NURSING 40.00 X 111293 0 0 SHEILA FIELDER RN SUPERVISOR 40.00 X 107684 0 0 DAVID KELBLE SR. DIRECTOR OF IT 40.00 X 140469 0 26151 1759627 0 213190 11 0 1 0 HOME INSTEAD SENIOR CARE 1215 WEST BALTIMORE PIKE UNIT 6 MEDIA PA 19063 HOME CARE 1508562 FUNCTIONAL PATHWAYS 10133 SHERRILL BLVD SUITE 200 KNOXVILLE TN 37932 REHABILITATION SERVICES 676427 UNIDINE CORPORATION PO BOX 102289 ATLANTA GA 30368 FOOD SERVICE 615047 ADVANCED ELECTRICAL SERVICE GROUP 1612 WENDY WAY GARNET VALLEY PA 19060 ELECTRICAL CONTRACTOR 592635 HERMAN GOLDNER COMPANY INC 7777 BREWSTER AVENUE PHILADELPHIA PA 19153 MECHANICAL CONSTRUCTION 566648 29 177143 177143 RESIDENT CARE FEES 623000 23451094 23451094 MEDICAL CARE FEES 623000 8731213 8731213 AMORT OF DEFERRED ENTRY FEES 623000 7096751 7096751 SPRINGTON LAKE REVENUE 623000 9000 9000 39288058 707771 707771 14053 2779 11274 11274 11274 3791982 3273557 518425 518425 518425 CAFE 900099 166516 166516 PAYROLL TAX REFUNDS 900099 161909 161909 TERMINATIONS 900099 39600 39600 162491 19428 143063 530516 41233187 39288058 19428 1748558 1318867 1318867 10797902 9459120 1338782 284540 284540 2691150 2242529 448621 936020 750805 185215 70895 70895 50050 50050 147957 147957 2584445 1856539 727906 196449 29468 166981 812913 728822 84091 335214 268171 67043 2834400 2540240 294160 10801 8877 1924 1504835 1354351 150484 5806801 5226121 580680 422352 380117 42235 FOOD 1574854 1244135 330719 SUPPORT SERVICES 1520451 1520451 REPAIRS AND MAINTENANCE 897133 756098 141035 DRUGS 213013 213013 646429 320855 325574 35657471 29184252 6473219 0 30129 54416 14992528 16731612 885178 793205 81103 73017 796924 699849 166668349 80672102 85000573 85996247 32982959 37360434 331830 418004 135101224 142126784 3036990 4105562 122138 31856442 30064659 84902946 82061124 119796378 116353483 X 15304846 25773301 15304846 25773301 135101224 142126784 X 5575716 3047691 1845048 X 0 1 X 1 0 X 300467 2281310 1362423 934466 177143 5055809 34116523 36043785 37793558 38509160 39288058 185751084 34416990 38325095 39155981 39443626 39465201 190806893 300467 2281310 1362423 278948 480254 4703402 0 300467 2281310 1362423 278948 480254 4703402 186103491 402781 441342 499518 426138 721824 2491603 402781 441342 499518 426138 721824 2491603 7279 7279 25946 88445 97651 659183 511088 1382313 34845717 38854882 39753150 40528947 40705392 194688088 0.95590 0.95870 0.01280 0.01080 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: TERMINATIONS - 2020 AMOUNT: $ 23,854. 2021 AMOUNT: $ 39,600. BEAUTY - 2020 AMOUNT: $ 10,052. 2021 AMOUNT: $ 16,610. NOTARY/JEWELRY REPAIR/MED RECORDS - 2018 AMOUNT: $ 26,530. 2019 AMOUNT: $ 4,803. 2020 AMOUNT: $ 25,599. 2021 AMOUNT: $ 22,860. CATERING - 2018 AMOUNT: $ 35,341. 2019 AMOUNT: $ 68,443. 2020 AMOUNT: $ 14,028. 2021 AMOUNT: $ 31,215. CAFE - 2020 AMOUNT: $ 100,949. 2021 AMOUNT: $ 166,516. MISCELLANEOUS - 2017 AMOUNT: $ 25,946. 2018 AMOUNT: $ 13,971. 2019 AMOUNT: $ 9,209. 2020 AMOUNT: $ 4,224. 2021 AMOUNT: $ 18,845. LAUNDRY - 2020 AMOUNT: $ 11,287. 2021 AMOUNT: $ 9,495. TRANSPORTATION - 2020 AMOUNT: $ 3,212. 2021 AMOUNT: $ 479. REIMBURSEMENTS - 2018 AMOUNT: $ 12,603. 2019 AMOUNT: $ 15,196. INSURANCE PROCEEDS - 2020 AMOUNT: $ 465,978. RENOVATION REVENUE - 2021 AMOUNT: $ 37,559. TRAINING PARTICIPATION - 2021 AMOUNT: $ 6,000. PAYROLL TAX REFUNDS - 2021 AMOUNT: $ 161,909. 4969123 139451 729993 249913 53741 5534913 3818778 699075 791947 285248 55429 4969123 4043870 79050 1058281 1359523 2900 3818778 6453942 71674 200436 2271162 10148 4444742 3065545 3106075 582789 300467 6453942 0.93800 0.00000 0.06200 0 1 1 6656012 6656012 148135633 76627391 71508242 9151816 4044711 5107105 2724888 2724888 85996247 REFUNDABLE DEPOSITS 738670 FV OF INTEREST RATE SWAP AGREEMENT 5058169 DEFERRED REVENUE FROM ENTRANCE FEES 52854077 REFUNDABLE ENTRANCE FEES 23410208 82061124 45980748 3047691 1697091 4744782 41235966 -2779 -2779 41233187 35512293 2779 2779 35509514 147957 147957 35657471 PART V, LINE 4: THE ENDOWMENT FUND HAS THREE PRINCIPAL USES: (1) RESIDENT RESERVE FUND - TO PROVIDE FINANCIAL ASSISTANCE TO RESIDENTS IN NEED, (2) CAMPUS IMPROVEMENT FUND - TO PROVIDE FACILITY IMPROVEMENTS, FURNISHINGS, AND EQUIPMENT FOR THE BENEFIT OF RESIDENTS OF THE COMMUNITY, AND 3) TO PROVIDE ASSISTANCE TO TEAM MEMBERS TO FURTHER THEIR EDUCATION AND TO THANK DEDICATED TEAM MEMBERS. IN ADDITION, THE ENDOWMENT FUND MAINTAINS AN UNRESTRICTED DISCRETIONARY FUND TO ACCOUNT FOR ALL RESOURCES WHICH THE ENDOWMENT FUND BOARD OF TRUSTEES HAS CONTROL TO USE IN PROVIDING BENEFITS FOR RESIDENTS OF THE COMMUNITY WITHIN THE SCOPE OF THE CORPORATION'S TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FV OF INTEREST RATE SWAP 1,845,048. INVESTMENT MANAGEMENT FEES -147,957. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -2,779. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 2,779. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 147,957. X X X X X 0 0 0 0 0 0 0 1 0 LEONARD WEISER PRESIDENT/CEO 301912 0 42750 0 6000 0 19500 0 19298 0 389460 0 0 0 MARK WASSERMAN VP OF FINANCE & CFO 203903 0 20001 0 0 0 14223 0 28302 0 266429 0 0 0 ROBERT J HIGGINS VP PROPERTY & FACILITIES 188862 0 17453 0 0 0 19500 0 12243 0 238058 0 0 0 TINA BOUKALIS VP RESIDENT SERVICES 184949 0 15947 0 0 0 19500 0 12013 0 232409 0 0 0 SUSAN ABTOUCHE VP MISSION ENHANCEMENT 148687 0 13624 0 0 0 17387 0 12813 0 192511 0 0 0 DAVID KELBLE SR. DIRECTOR OF IT 132303 0 8166 0 0 0 3873 0 22278 0 166620 0 0 0 PART I, LINE 7 THE INCENTIVE AWARD FITS THE IRS DEFINITION OF NON-FIXED PAYMENT. THE INCENTIVE AWARD IS INCLUDED IN EACH EMPLOYEE'S W-2 COMPENSATION. INCENTIVE AWARD PARAMETERS ARE APPROVED BY THE GOVERNANCE COMMITTEE ANNUALLY. FOR ALL PERFORMANCE INCENTIVES OTHER THAN THE PRESIDENT/CEO'S, THE PRESIDENT/CEO WILL BE CONSULTED AS PART OF THE EVALUATION PROCESS. INCENTIVE AWARDS WILL BE GRANTED WHEN PERFORMANCE MEETS ESTABLISHED GOALS. NO AWARDS WILL BE PAID IF BASE THRESHOLD PERFORMANCE LEVELS ARE NOT ACHIEVED. THE FOLLOWING EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A RECEIVED AN INCENTIVE AWARD IN 2021. LEONARD WEISER, PRESIDENT/CEO - $42,750 ROBERT J. HIGGINS, VP PROPERTY/FACILITIES - $17,453 TINA BOUKALIS, VP RESIDENT SERVICES - $ 15,947 SUSAN ABTOUCHE, VP MISSION ENHANCEMENT - $13,624 MARK WASSERMAN, VP FINANCE - $20,001 DAVID KELBLE, SR. DIRECTOR OF IT - $8,166 BRITTANY BROWN, NURSING HOME ADMINISTRATOR - $7,550 MAX ROMULUS, MANAGER OF IT - $1,000 A DELAWARE COUNTY AUTHORITY 231973437 245913HH4 2006-05-17 4865000 REFUND OF PRIOR ISSUE 0 0 0 B DELAWARE COUNTY AUTHORITY 231973437 245913HJ0 2006-05-17 35795000 FUND EXPANSION, RENOVATION 0 0 0 C DELAWARE COUNTY AUTHORITY 231973437 245913JD1 2008-05-09 11000000 FUND EXPANSION, RENOVATION 0 0 0 A 4865000 40554 4190 4143 4816113 2006 0 1 1 1 B 21368243 35795000 295819 30826 6893094 28575261 2006 1 0 1 1 C 11000000 188620 48669 10762711 2010 0 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 0 0 0 0 1 B 0 0 1 0 1 1 0 0 0 0 1 C 0 0 1 0 1 1 VARIOUS 0 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS ON JUNE 16, 2021. THE CHANGES RELATED TO THE TIMING OF DIRECTOR RESIGNATION AND REPLACEMENT AND NOMINATION TO SERVE AS AN OFFICER FOR ONE YEAR IF TERM LIMIT HAS BEEN REACHED. THE AMENDMENT ALSO MODIFIED THE TIMING OF THE ANNUAL MEETING TO BE WITHIN 60 DAYS OF JUNE 1ST EACH YEAR AND NOTED THE OFFICERS OF THE CORPORATION WHICH INCLUDED OTHER EXECUTIVE OFFICERS IF RECOMMENDED BY THE CEO OR THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE RETURN IS THEN REVIEWED BY THE MANAGEMENT AND THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL WHITE HORSE VILLAGE TEAM MEMBERS, INCLUDING BUT NOT LIMITED TO OFFICERS, KEY EMPLOYEES, AND MEMBERS OF THE BOARD OF DIRECTORS, HAVE AN OBLIGATION TO CONDUCT BUSINESS WITHIN GUIDELINES THAT PROHIBIT ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THIS POLICY IS ESTABLISHED TO ENSURE THAT RESIDENT CARE/SERVICES AND BUSINESS ACTIVITIES ARE CONDUCTED IN AN OBJECTIVE MANNER AND ARE NOT MOTIVATED BY DESIRE FOR PERSONAL OR FINANCIAL GAIN. ACTUAL OR POTENTIAL CONFLICTS OF INTEREST MUST BE DISCLOSED TO APPROPRIATE MANAGEMENT PERSONNEL, HUMAN RESOURCES AND/OR THE COMPLIANCE OFFICER OR DESIGNEE. TEAM MEMBERS MUST SEEK GUIDANCE AND APPROVAL FROM COMPLIANCE OFFICER AND/OR PRESIDENT/CEO BEFORE PURSUING ANY BUSINESS OR PERSONAL ACTIVITY THAT MAY CONSTITUTE A CONFLICT OF INTEREST. THE BOARD OF DIRECTORS AND MEMBERS OF MANAGEMENT WILL SIGN THE CONFLICT OF INTEREST SIGNATURE PAGE ANNUALLY. THE POLICY EXPRESSLY MENTIONS FAMILY AND BUSINESS RELATIONSHIPS AS POTENTIAL SOURCES OF CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 ALL OFFICER AND KEY EMPLOYEE COMPENSATION REVIEWS ARE COMPLETED USING THREE DIFFERENT WAGE SURVEYS, OTHER FORM 990'S OF SIMILAR ORGANIZATIONS AND INDEPENDENT CONSULTANT REPORTS. THE BOARD'S GOVERNANCE COMMITTEE REVIEWS COMPENSATION OF THE PRESIDENT/CEO. THE PRESIDENT/CEO REVIEWS COMPENSATION FOR OTHER PAID OFFICERS AND KEY EMPLOYEES AND SHARES THAT INFORMATION WITH THE BOARD GOVERNANCE COMMITTEE FOR ITS REVIEW AND APPROVAL. ALL OFFICER AND KEY EMPLOYEE COMPENSATION REVIEW DELIBERATIONS AND FINAL DETERMINATIONS ARE TIMELY DOCUMENTED AS PART OF COMMITTEE MINUTES AND RESPECTIVE EMPLOYEE FILES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FV OF INTEREST RATE SWAP 1,845,048. WHITE HORSE VILLAGE ENDOWMENT FUND INC 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 232738045 SUPPORT WHITE HORSE VILLAGE, INC. AND ITS RESIDENTS PA 501(C)(3) LINE 12A, I WHITE HORSE VILLAGE INC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0