2021-11-12T07:41:22-06:00 2020-12-31 593070669 MSL PA 255 S ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2020-01-01 510553716 UPSTATE SENIOR LIVING INC UPST 8643713100 1500 TRAILHEAD COURT GREENVILLE SC 29617 JAMES BRACKETT PRESIDENT AND CEO 8643713100 2021-11-12 1 JAMES BRACKETT 999009999 HARRY E HARP CPA P00176471 4077405400 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z THE WOODLANDS AT FURMAN JAMES BRACKETT 1500 TRAILHEAD COURT GREENVILLE SC 29617 18668463 0 X WWW.THEWOODLANDSATFURMAN.ORG X 2003 SC TO BE THE RETIREMENT COMMUNITY OF CHOICE BY NURTURING A DISTINCTIVE CULTURE OF ENRICHMENT. 10 10 361 10 0 0 0 1875681 14706448 16300223 232929 286304 159838 127545 15099215 18589753 0 0 0 0 6741692 7591332 0 0 4839 10374345 11358910 17116037 18950242 -2016822 -360489 83167208 111422308 128358826 155851126 -45191618 -44428818 THE MISSION OF UPSTATE SENIOR LIVING, INC. IS TO BE THE RETIREMENT COMMUNITY OF CHOICE BY NUTURING A DISTINCTIVE CULTURE OF ENRICHMENT FOR ITS RESIDENTS. 0 0 17494185 16427768 THE WOODLANDS AT FURMAN HAS A UNIQUE AFFILIATION WITH FURMAN UNIVERSITY WHICH HELPS RESIDENTS STAY HEALTHY, CONNECTED AND INVOLVED. THE ORGANIZATION DOES EVERYTHING POSSIBLE TO MAKE RETIREMENT ONE OF THE MOST REWARDING AND ENRICHING PARTS OF LIFE BY OFFERING A LIFESTYLE THAT ENCOURAGES PHYSICAL, MENTAL AND SOCIAL GROWTH. THERE ARE 127 INDEPENDENT LIVING APARTMENTS RANGING IN SIZE FROM 700 TO 2,060 SQUARE FEET. THE WOODLANDS' NEWEST NEIGHBORHOOD INCLUDES 28 SINGLE FAMILY HOMES. FOR THOSE WHO NEED INCREASED CARE, THE WOODLANDS' SKILLED NURSING UNIT HAS 30 BEDS. THE COMMUNITY ALSO HAS 48 ASSISTED LIVING UNITS. 17494185 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 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 1 0 0 1 55 0 1 361 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X STEPHANIE ESTRADA CHIEF FINANCIAL OFFICER 8643713100 1500 TRAILHEAD COURT GREENVILLE SC 29617 MARY LOU MERKT PRESIDENT/CEO 40.00 0.00 X 313047 0 50416 JAMES RICK BRACKETT VICE PRESIDENT OF OPERATIONS 40.00 0.00 X 148749 0 27141 ANGELA HECKER DIRECTOR OF MARKETING 40.00 0.00 X 143021 0 69870 DONALD LILLY VICE PRESIDENT OF HEALTH SERVICES 40.00 0.00 X 131296 0 12811 DEBORAH HENRY SALES COUNSELOR 40.00 0.00 X 114875 0 13814 STEPHANIE ESTRADA CFO (BEG 08/2020) 40.00 0.00 X 52957 0 5113 KATHLEEN MCKINNEY PRESIDENT 2.00 0.00 X X 0 0 0 WALTER GOLDSMITH VICE PRESIDENT 2.00 0.50 X X 0 0 0 DR SARAH FLETCHER SECRETARY 1.00 0.50 X X 0 0 0 BRUCE BROWN TREASURER 1.00 0.50 X X 0 0 0 BEN NORWOOD DIRECTOR 1.00 0.00 X 0 0 0 SUSAN BICHEL DIRECTOR 1.00 0.00 X 0 0 0 BEN DEIBLER DIRECTOR 1.00 0.00 X 0 0 0 DAVID JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 TODD MALO DIRECTOR 1.00 0.00 X 0 0 0 CLARE MORRIS DIRECTOR 1.00 0.00 X 0 0 0 903945 0 179165 6 0 1 0 ENVIROCARE LANDSCAPE MANAGEMENT PO BOX 80394 SIMPSONVILLE SC 29680 LANDSCAPE SERVICES 478947 BON APPETIT MANAGEMENT COMPANY PO BOX 417632 BOSTON MA 022417632 DINING SERVICES 167552 JD LANE CONSTRUCTION PO BOX 189 TIGERVILLE SC 29688 CONSTRUCTION SERVICES 136507 3 110741 1764940 1875681 INDEPENDENT LIVING FEES 623000 7222265 7222265 SKILLED NURSING FEES 623000 3329130 3329130 ASSISTED LIVING FEES 623000 3132388 3132388 EARNED ENTRANCE FEES 623000 1912148 1912148 COMPANION SERVICE REVENUE 623000 704292 704292 16300223 241465 241465 123549 0 78710 123549 -78710 44839 44839 OTHER RESIDENT REVENUE 623000 127545 127545 127545 18589753 16427768 0 286304 387765 348988 38777 6107982 5247929 860053 722943 622908 95196 4839 372642 321294 51348 34899 34899 50150 50150 58561 58561 581161 536090 45071 155796 155796 188510 120060 68450 125593 112137 13456 2725020 2665142 59878 44686 44474 212 12198 10695 1503 2782683 2764173 18510 2556954 2539945 17009 453243 450228 3015 DIETARY EXPENSES 838057 838057 SUPPLIES 547284 530388 16896 EMPLOYEE EXPENSES 111692 96699 14993 EQUIPMENT 52126 50884 1242 40297 38298 1999 18950242 17494185 1451218 4839 2953243 9213516 796635 519956 44430 42145 82155 65642 104411842 23546591 64284999 80865251 5421810 20334120 353137 9583936 28541 83167208 111422308 865789 4513677 54588511 59623197 55755000 74415095 17149526 17299157 128358826 155851126 X -45213179 -44491846 21561 63028 -45191618 -44428818 83167208 111422308 -360489 1123289 0 X X 0 1 X 1 0 X 1875681 1875681 12411549 14120018 13860246 14706448 16300223 71398484 12411549 14120018 13860246 14706448 18175904 73274165 0 146037 146037 146037 146037 73128128 55264 125715 205904 256511 241465 884859 55264 125715 205904 256511 241465 884859 116141 162866 184854 159838 127545 751244 12582954 14408599 14251004 15122797 18544914 74910268 0.97620 0.98020 0.01180 0.01060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75225240 17550508 57674732 3887930 2833447 1054483 25298672 3162636 22136036 80865251 CASH AND CASH EQUIVALENTS 4846406 F FIXED INCOME 8329013 F EQUITIES 7158701 F 20334120 APPLICANT DEPOSITS 2406886 RIGHT-OF-USE OPERATING LEASE OBLIGATIONS 14604365 MEDICARE ADVANCE PAYMENTS 287906 17299157 X 19654481 1123289 1123289 18531192 58561 58561 18589753 18891681 0 18891681 58561 58561 18950242 PART X, LINE 2: THE ORGANIZATION IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND UNDER SIMILAR STATE STATUTES. ACCORDINGLY, NO INCOME TAX LIABILITY OR PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2020, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION FOR ITS FEDERAL INCOME TAX RETURNS PRIOR TO 2017. X 0 0 0 0 0 0 0 0 0 MARY LOU MERKT PRESIDENT/CEO 313047 0 0 0 0 0 50375 0 41 0 363463 0 0 0 JAMES RICK BRACKETT VICE PRESIDENT OF OPERATIONS 146268 0 0 0 2481 0 5729 0 21412 0 175890 0 0 0 ANGELA HECKER DIRECTOR OF MARKETING 78158 0 0 0 64863 0 54690 0 15180 0 212891 0 0 0 A SOUTH CAROLINA JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837036DA7 2017-06-01 57455000 SEE PART VI 0 0 0 B SOUTH CAROLINA JOBS - ECONOMIC DEVELOPMENT AUTHORITY 570960018 837031ZL0 2020-01-22 35695000 SEE PART VI 0 0 0 A 2460000 58611008 3523175 1172220 4157073 49758540 2017 1 0 1 1 B 37609953 1185000 640547 34442189 1342217 0 0 0 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 0 B 0 SCHEDULE K, PART I, COLUMN (E) THE TOTAL PROCEEDS FOR SERIES 2017 BOND ISSUE ARE NOT IDENTICAL TO THE TOTAL ISSUE PRICE LISTED IN PART I, COLUMN (E). THE DIFFERENCE IS AN ORIGINAL ISSUE PREMIUM OF $1,614,819 AS WELL AS AN ORIGINAL ISSUE DISCOUNT OF $458,811. SCHEDULE K, PART I, COLUMN (F) IN JUNE 2017, THE SOUTH CAROLINA JOBS ECONOMIC DEVELOPMENT AUTHORITY ISSUED ECONOMIC DEVELOPMENT REFUNDING AND REVENUE BONDS (THE "SERIES 2017 BONDS") IN THE AMOUNT OF $57,455,000 FOR THE ORGANIZATION. THE PROCEEDS OF THE SERIES 2017 BONDS WERE USED TO REFUND ALL OF THE PREVIOUSLY ISSUED BOND DEBT AND NOTES PAYABLE, TO FUND CAPITAL ADDITIONS INCLUDING PRE-DEVELOPMENT COSTS OF THE COMMUNITY'S EXPANSION, TO FUND A DEBT SERVICE RESERVE FUND, AND TO PAY COSTS OF ISSUANCE. THE SERIES 2017 BONDS ARE DUE IN VARYING INSTALLMENTS THROUGH NOVEMBER 2052 AND ACCRUE INTEREST AT FIXED RATES RANGING FROM 4.0% TO 5.25%. THE SERIES 2017 BONDS ARE COLLATER-ALIZED BY ALL GROSS REVENUES OF THE ORGANIZATION, ASSIGNMENT OF LEASES, RENTS AND PROFITS, FUNDS AND ACCOUNTS HELD BY THE BOND TRUSTEE, AND PROPERTY AND EQUIPMENT HELD BY THE ORGANIZATION. SCHEDULE K, PART I, COLUMN (E) THE TOTAL PROCEEDS FOR SERIES 2020A AND SERIES 2020B BOND ISSUE ARE NOT IDENTICAL TO THE TOTAL ISSUE PRICE LISTED IN PART I, COLUMN (E). THE DIFFERENCE IS AN ORIGINAL ISSUE PREMIUM OF $1,914,953. SCHEDULE K, PART I, COLUMN (F) IN JANUARY 2020, THE AUTHORITY ISSUED ECONOMIC DEVELOPMENT REVENUE BONDS OF (A) $18,695,000 OF SERIES A (THE "SERIES 2020A BONDS") AND (B) UP TO $17,000,000 OF SERIES B (THE "SERIES 2020B BONDS"). THE PROCEEDS OF THE SERIES 2020 BONDS WERE USED TO (A) FUND A PROJECT FUND FOR THE COMMUNITY'S EXPANSION AND RENOVATIONS (B) FUND A DEBT SERVICE AND INTEREST RESERVE AND (C) TO PAY COSTS OF ISSUANCE. THE SERIES 2020A BONDS ARE DUE IN VARYING INSTALLMENTS THROUGH NOVEMBER 2054 AND ACCRUE INTEREST AT FIXED RATES RANGING FROM 4.0% TO 5.0%. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE ORGANIZATION'S FINANCE COMMITTEE. THE RETURN IS MADE AVAILABLE TO ALL VOTING BOARD MEMBERS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS IS REQUIRED TO SIGN A CONFLICT OF INTEREST POLICY ANNUALLY. INDIVIDUALS REALIZE THEIR FIDUCIARY DUTY TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST SO THAT THE BOARD CAN DETERMINE THE APPROPRIATE COURSE OF ACTION SHOULD A CONFLICT ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD APPROVES THE SALARIES OF TOP MANAGEMENT OFFICIALS BY UTILIZING COMPARABILITY DATA. THE CEO DETERMINES SALARY FOR KEY EMPLOYEES BY UTILIZING COMPARABILITY DATA AND INDUSTRY SALARY SURVEYS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THERE WAS NO CHANGE IN THIS PROCESS FROM THE PRIOR YEAR. WOODLANDS LEGACY FUND (DISSOLVED 122020) 1500 TRAILHEAD COURT GREENVILLE SC 29617 465248150 PHILANTHROPY SC 501(C)(3) LINE 12A, I UPSTATE SENIOR LIVING INC 1 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 WOODLANDS LEGACY FUND C 110741 ACTUAL AMOUNT RECEIVED