2021-11-01T07:18:11-05:00 2020-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2020-01-01 232499121 WHITE HORSE VILLAGE INC WHIT 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 MARK WASSERMAN VP OF FINANCE AND CFO 6105585000 2021-10-22 1 MARK WASSERMAN 999009999 KERRI N BOGDA CPA P00760402 7177404863 X 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z LEN WEISER 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 46421288 0 X WWW.WHITEHORSEVILLAGE.ORG X 1989 PA CONTINUING CARE RETIREMENT COMMUNITY WITH A CONTINUUM OF CARE 15 15 464 225 0 0 1362423 934466 37793558 38509160 604490 -99907 170403 680467 39930874 40024186 0 278948 0 0 15619039 15336639 0 0 0 18998426 20498944 34617465 36114531 5313409 3909655 128776430 135101224 119396584 119796378 9379846 15304846 X WE INTENTIONALLY CREATE OPPORTUNITIES FOR EXTRAORDINARY LIVING IN A VIBRANT, DIVERSE COMMUNITY THROUGH PERSONAL GROWTH, CONNECTEDNESS, AND RELATIONSHIPS. 0 0 29620170 278948 38509160 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 59 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. 29620170 1 1 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 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 70 0 464 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 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 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 X 0 0 0 LOUISE HUMMEL DIRECTOR 1.00 1.00 X 0 0 0 DIKRAN KASSABIAN DIRECTOR 1.00 X 0 0 0 WILLIAM KENNEDY DIRECTOR 1.00 X 0 0 0 ESTHER R LAURY DIRECTOR 1.00 X 0 0 0 MARY LOU MCLAUGHLIN DIRECTOR 1.00 X 0 0 0 GREGORY NOWELL DIRECTOR 1.00 X 0 0 0 ALBERT M RAYMOND DIRECTOR 1.00 X 0 0 0 JOHN C YOUNG DIRECTOR 1.00 X 0 0 0 ELEANOR C SMITH DIRECTOR (UNTIL 6/20) 1.00 X 0 0 0 MELANIE BORK GRAHAM VICE CHAIR & SEC'Y (UNTIL 6/20) 1.00 X X 0 0 0 LEONARD WEISER PRESIDENT/CEO 39.00 1.00 X 331210 0 22668 JENNIFER K SCHILPP VP OF FINANCE & CFO (UNTIL 2/20) 39.00 1.00 X 166640 0 3429 MARK WASSERMAN VP OF FINANCE & CFO (BEGAN 6/20) 40.00 X 114472 0 16236 ROBERT J HIGGINS VP PROPERTY & FACILITIES 40.00 X 202273 0 20535 TINA BOUKALIS VP RESIDENT SERVICES 40.00 X 185459 0 18950 SUSAN ABTOUCHE VP MISSION ENHANCEMENT 40.00 X 146787 0 17614 BRITTANY BROWN NURSING HOME ADMINISTRATOR 40.00 X 134287 0 1144 MAX ROMULUS MANAGER OF IT 40.00 X 125541 0 10346 1406669 0 110922 8 0 1 0 HOME INSTEAD SENIOR CARE 600 NORTH JACKSON STREET MEDIA PA 19063 HOME CARE 1067528 JOHN MCALLISTER 129 BEECHWOOD ROAD NEWTON SQUARE PA 19073 BUILDING CONTRACTOR 788820 UNIDINE CORPORATION PO BOX 102289 ATLANTA GA 30368 FOOD SERVICE 624375 HERMAN GOLDNER COMPANY INC 7777 BREWSTER AVENUE PHILADELPHIA PA 19153 MECHANICAL CONSTRUCTION 562543 ADVANCED ELECTRICAL SERVICE GROUP 1612 WENDY WAY GARNET VALLEY PA 19060 ELECTRICAL CONTRACTOR 480892 18 278948 622823 32695 934466 RESIDENT CARE FEES 623000 22603270 22603270 MEDICAL CARE FEES 623000 8774236 8774236 AMORT OF DEFERRED ENTRY FEES 623000 7120605 7120605 SPRINGTON LAKE REVENUE 623000 11049 11049 38509160 524525 524525 24298 3014 21284 21284 21284 5769656 6394088 -624432 -624432 -624432 INSURANCE PROCEEDS 900099 465978 465978 CAFE 900099 100949 100949 NOTARY 900099 25599 25599 66657 66657 659183 40024186 38509160 0 580560 278948 278948 1081872 1081872 10269425 8983911 1285514 299399 269489 29910 2807226 2310322 496904 878717 710981 167736 137350 137350 48710 48710 122685 122685 2324995 1716421 608574 194252 29137 165115 971175 654125 317050 184373 156836 27537 2995032 2630067 364965 7258 5948 1310 1722054 1549848 172206 7658326 6892493 765833 338604 304744 33860 FOOD 1325511 1047154 278357 SUPPORT SERVICES 1098203 1098203 REPAIRS AND MAINTENANCE 620641 527944 92697 DRUGS 243415 243415 506360 210184 296176 36114531 29620170 6494361 0 7422516 30129 14992528 2050956 885178 114365 81103 1862359 796924 161126017 76125444 87876063 85000573 29450171 32982959 0 331830 128776430 135101224 3583276 3036990 74244112 33630072 31856442 7939124 84902946 119396584 119796378 X 9379846 15304846 9379846 15304846 128776430 135101224 X 3909655 2952996 -937651 X 0 1 X 1 0 X 225097 300467 2281310 1362423 934466 5103763 31386754 34116523 36043785 37793558 38509160 177849780 31611851 34416990 38325095 39155981 39443626 182953543 225097 300467 2281310 1362423 278948 4448245 0 225097 300467 2281310 1362423 278948 4448245 178505298 236984 402781 441342 499518 426138 2006763 236984 402781 441342 499518 426138 2006763 371333 25946 88445 97651 659183 1242558 32220168 34845717 38854882 39753150 40528947 186202864 0.95870 0.95980 0.01080 0.01010 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: TERMINATIONS - 2020 AMOUNT: $ 23,854. BEAUTY - 2020 AMOUNT: $ 10,052. NOTARY - 2018 AMOUNT: $ 26,530. 2019 AMOUNT: $ 4,803. 2020 AMOUNT: $ 25,599. CATERING - 2018 AMOUNT: $ 35,341. 2019 AMOUNT: $ 68,443. 2020 AMOUNT: $ 14,028. CAFE - 2020 AMOUNT: $ 100,949. MISCELLANEOUS - 2016 AMOUNT: $ 371,333. 2017 AMOUNT: $ 25,946. 2018 AMOUNT: $ 13,971. 2019 AMOUNT: $ 9,209. 2020 AMOUNT: $ 4,224. LAUNDRY - 2020 AMOUNT: $ 11,287. TRANSPORTATION - 2020 AMOUNT: $ 3,212. REIMBURSEMENTS - 2018 AMOUNT: $ 12,603. 2019 AMOUNT: $ 15,196. INSURANCE PROCEEDS - 2020 AMOUNT: $ 465,978. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3818778 699075 791947 285248 55429 4969123 4043870 79050 1058281 1359523 2900 3818778 6453942 71674 200436 2271162 10148 4444742 3065545 3106075 582789 300467 6453942 2746822 109411 22054 225097 212355 2440835 0.89800 0.00000 0.10200 0 1 1 6656012 6656012 145483170 72555630 72927540 8785497 3569814 5215683 201338 201338 85000573 REFUNDABLE DEPOSITS 789380 FV OF INTEREST RATE SWAP AGREEMENT 6903217 DEFERRED REVENUE FROM ENTRANCE FEES 53597160 REFUNDABLE ENTRANCE FEES 23613189 84902946 41919860 2952996 -1060336 1892660 40027200 -3014 -3014 40024186 35994860 3014 3014 35991846 122685 122685 36114531 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 -937,651. INVESTMENT MANAGEMENT -122,685. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -3,014. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 3,014. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVEST MANAGEMENT FEES 122,685. 1 RESIDENT ASSISTANCE 6 245241 SCHOLARSHIPS 19 33707 PART I, LINE 2: RESIDENT ASSISTANCE: RESIDENTS MAY APPLY FOR ASSISTANCE BY FILLING OUT AN APPLICATION AND PROVIDING DOCUMENTATION TO SUPPORT THEIR REQUEST. THE CFO GATHERS THE INFORMATION AND PROVIDES REDACTED DOCUMENTS TO THE COMMITTEE IN CHARGE OF MAKING DECISIONS FOR RESIDENT ASSISTANCE. THE COMMITTEE CONSISTS OF THE VP OF OPERATIONS AND SEVERAL ENDOWMENT FUND BOARD MEMBERS. ALL DECISIONS ARE MADE BLINDLY - NO RESIDENT NAMES ARE USED TO ENSURE FAIR AND UNBIASED DECISIONS. SCHOLARSHIPS: EMPLOYEES MAY APPLY FOR EDUCATIONAL SCHOLARSHIPS BY FILLING OUT AN APPLICATION. A COMMITTEE CONSISTING OF TEAM MEMBERS AND RESIDENTS MAKE THESE DECISIONS. THE APPLICANTS MUST HAVE BEEN WORKING FOR WHITE HORSE VILLAGE FOR AT LEAST 6 MONTHS AT THE TIME OF APPLYING. THEY MUST PASS THEIR COURSES AND BE A TEAM MEMBER WHEN THE SCHOLARSHIP IS DISSEMINATED. X X X X X 1 0 0 0 0 0 0 1 0 LEONARD WEISER PRESIDENT/CEO 286698 0 38512 0 6000 0 6367 0 16301 0 353878 0 0 0 ROBERT J HIGGINS VP PROPERTY & FACILITIES 181799 0 20474 0 0 0 10067 0 10468 0 222808 0 0 0 TINA BOUKALIS VP RESIDENT SERVICES 166751 0 18708 0 0 0 9202 0 9748 0 204409 0 0 0 JENNIFER K SCHILPP VP OF FINANCE & CFO (UNTIL 2/20) 61324 0 15316 0 90000 0 1665 0 1764 0 170069 0 0 0 SUSAN ABTOUCHE VP MISSION ENHANCEMENT 133287 0 13500 0 0 0 5741 0 11873 0 164401 0 0 0 PART I, LINE 4A JENNIFER SCHILPP, THE FORMER VP OF FINANCE AND CFO, DEPARTED THE ORGANIZATION IN FEBRUARY 2020. HER SEVERANCE WAS ISSUED AS NORMAL BI-WEEKLY PAYCHECKS UNTIL MID-JULY 2020. 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 PRESIDNET/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 VIII, SECTION A RECEIVED AN INCETIVE AWARD IN 2020. LEONARD WEISER, PRESIDENT/CEO - $38,512 ROBERT J. HIGGINS, VP PROPERTY/FACILITIES - $20,474 TINA BOUKALIS, VP RESIDENT SERVICES - $ 18,708 SUSAN ABTOUCHE, VP MISSION ENHANCEMENT - $13,500 JENNIFER K. SCHLIPP, VP FINANCE - $15,316 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 19551667 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 B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN IT IS 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 -937,651. 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 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 WHITE HORSE VILLAGE ENDOWMENT FUND INC C 278948 CASH TRANSFER