2020-11-09T08:50:36-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2019-01-01 232499121 WHITE HORSE VILLAGE INC WHIT 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 MARK WASSERMAN VP FINANCE 6105585000 2020-11-02 1 SETH BRODY P01586423 2156433900 2020-09-23 67.137.57.251 2020-11-02 09:35:28 ES P B9410AED5E3544F88E7F1364350661432485FF60 DE2E8DBC7D240B44924189C72BC0637F30C9C429 2019 2021-01-29 14:40:06Z LEN WEISER 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 41713098 0 X WWW.WHITEHORSEVILLAGE.ORG X 1989 PA CONTINUING CARE RETIREMENT COMMUNITY DEDICATED TO CREATING OPPORTUNITIES FOR EXTRADORDINARY LIVING. 14 14 503 225 0 0 2281310 1362423 36043785 37793558 306249 604490 172505 170403 38803849 39930874 0 0 0 0 14598563 15619039 0 0 0 18437841 18998426 33036404 34617465 5767445 5313409 117228822 128776430 114649607 119396584 2579215 9379846 WE INTENTIONALLY CREATE OPPORTUNITIES FOR EXTRAORDINARY LIVING IN A VIBRANT, DIVERSE COMMUNITY THROUGH PERSONAL GROWTH, CONNECTEDNESS, AND RELATIONSHIPS. 0 0 30009162 0 37793558 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. 30009162 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 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 1 0 0 1 88 0 503 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MARK WASSERMAN VP FINANCE 6105585000 535 GRADYVILLE RD NEWTOWN SQUARE PA 19073 SHIRLEY WEAVER CHAIR 1.00 0.00 X X 0 0 0 MELANIE BORK GRAHAM VICE CHAIR/SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL B MAGNAVITA TREASURER 1.00 0.00 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 CIECHANOWSKI DIRECTOR 1.00 0.00 X 0 0 0 PAMELA L HANSEN DIRECTOR 1.00 1.00 X 0 0 0 LOUISE L HUMMEL DIRECTOR 1.00 1.00 X 0 0 0 DEKE KASSABIAN DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM KENNEDY DIRECTOR 1.00 0.00 X 0 0 0 GREGORY NOWELL DIRECTOR 1.00 0.00 X 0 0 0 ALBERT RAYMOND DIRECTOR 1.00 0.00 X 0 0 0 ELEANOR C SMITH DIRECTOR 1.00 1.00 X 0 0 0 JOHN YOUNG DIRECTOR 1.00 0.00 X 0 0 0 PAUL HOPPER DIRECTOR - LEFT JAN 2019 1.00 0.00 X 0 0 0 CYNDI WALTERS DIRECTOR - LEFT JUN 2019 1.00 0.00 X 0 0 0 LEONARD WEISER PRESIDENT/CEO 40.00 0.00 X 313713 0 25150 JENNIFER K SCHILPP VP FINANCE 40.00 0.00 X 248247 0 23270 ROBERT J HIGGINS VP PROPERTY/FACILITIES 40.00 0.00 X 193319 0 18742 TINA BOUKALIS VP RESIDENT SERVICES 40.00 0.00 X 172804 0 19294 BRITTANY BROWN SENIOR DIRECTOR/ADMINISTRATOR 40.00 0.00 X 130763 0 9579 SUSAN ABTOUCHE VP OF MISSION ENHANCEMENT 40.00 0.00 X 114715 0 9683 MAX ROMULUS DIRECTOR OF IT 40.00 0.00 X 104143 0 14974 1277704 0 120692 7 0 1 0 PAUL RISK CONSTRUCTION 11 W STATE ST QUARRYVILLE PA 17566 BUILDING CONTRACTOR 2019309 HOME INSTEAD SENIOR CARE 600 N JACKSON ST STE 200 MEDIA PA 19063 IN HOME SENIOR CARE 1721873 SYSCO PHILADELPHIA LLC 600 PACKER AVE PHILADELPHIA PA 19145 FOOD SERVICE 1583193 JOHN MCALLISTER 129 BEECHWOOD RD NEWTOWN SQUARE PA 19073 BUILDING CONTRACTOR 1262164 UNIDINE CORPORATION PO BOX 102289 ATLANTA GA 30368 HOSPITALITY SERVICES 949336 18 1362423 1362423 RESIDENT CARE FEES 623000 21148216 21148216 MEDICAL CARE FEES 623000 9454836 9454836 AMORT OF DEFERRED ENTRY FEES 623000 6894353 6894353 AUXILLIARY SERVICES 624100 294153 294153 RENOVATION UPGRADES 811000 2000 2000 37793558 426766 426766 72752 0 72752 72752 72752 1959948 1782224 177724 177724 177724 CATERING 722515 68443 68443 REIMBURSEMENTS 900099 15196 15196 NOTARY AND POSTAGE 900099 4803 4803 9209 9209 97651 39930874 37793558 0 774893 719522 719522 10551089 9713161 837928 282628 250120 32508 3166532 2643320 523212 899268 791307 107961 126128 18919 107209 45000 6750 38250 498426 393096 105330 220317 33048 187269 1382689 1032946 349743 5802556 5278599 523957 14475 3454 11021 1747690 1572921 174769 5678316 5110484 567832 296002 266402 29600 FOOD 1738286 1651372 86914 THERAPY 727056 727056 PHARMACY/MED SUPPLIES 479981 479981 LICENSES AND FEES 241504 36226 205278 34617465 30009162 4608303 0 8157315 7422516 1495009 2050956 96454 114365 1567504 1862359 175042412 87166349 87057645 87876063 18854895 29450171 117228822 128776430 3237318 3583276 68866229 74244112 35318741 33630072 7227319 7939124 114649607 119396584 X 2579215 9379846 2579215 9379846 117228822 128776430 X 5313409 2697188 -1209966 X 0 1 X 1 0 X 227894 225097 300467 2281310 1362423 4397191 29664870 31386754 34116523 36043785 37793558 169005490 29892764 31611851 34416990 38325095 39155981 173402681 227894 225097 300467 2281310 1362423 4397191 0 227894 225097 300467 2281310 1362423 4397191 169005490 190046 236984 402781 441342 499518 1770671 190046 236984 402781 441342 499518 1770671 331681 371333 25946 88445 97651 915056 30414491 32220168 34845717 38854882 39753150 176088408 0.95980 0.96380 0.01010 0.01030 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: CATERING - 2018 AMOUNT: $ 35,341. 2019 AMOUNT: $ 68,443. NOTARY AND POSTAGE - 2018 AMOUNT: $ 26,530. 2019 AMOUNT: $ 4,803. REIMBURSEMENTS - 2018 AMOUNT: $ 12,603. 2019 AMOUNT: $ 15,196. MISCELLANEOUS - 2015 AMOUNT: $ 331,681. 2016 AMOUNT: $ 371,333. 2017 AMOUNT: $ 25,946. 2018 AMOUNT: $ 13,971. 2019 AMOUNT: $ 9,209. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4043870 79050 1058281 1359523 2900 3818778 6453942 71674 -200436 2271162 10148 4043870 3065545 3106075 582789 300467 6453942 2746822 109411 222054 225097 -212355 3065545 2821999 158916 -6199 227894 2746822 0.88340 0.00000 0.11660 0 1 1 6656012 6656012 149790087 74626745 75163342 16861703 11393090 5468613 1734610 1146514 588096 87876063 INTEREST RATE SWAP 5965566 REFUNDABLE HEALTHCARE DEPOSITS 1644793 REFUNDABLE PROSPECTIVE RESIDENTS' DEPOSITS 328765 7939124 X 41418096 2697188 -1209966 1487222 39930874 0 39930874 34617465 0 34617465 0 34617465 PART V, LINE 4: WHITE HORSE VILLAGE ENDOWMENT FUND HAS TWO TEMPORARILY RESTRICTED FUNDS: RESIDENT RESERVE FUND-TO PROVIDE FINANCIAL ASSISTANCE TO RESIDENTS IN NEED. CAMPUS IMPROVEMENT FUND-TO PROVIDE FACILITY IMPROVEMENTS, FURNISHINGS, AND EQUIPMENT AT THE COMMUNITY FOR THE BENEFIT OF RESIDENTS OF THE COMMUNITY. IN ADDITION, THE ENDOWMENT FUND MAINTAINS AN UNRESTRICTED DISCRETIONARY FUND TO ACCOUNT FOR ALL RESOURCES OVER WHICH THE ENDOWMENT FUND COMMITTEE HAS CONTROL TO USE IN PROVIDING BENEFITS FOR RESIDENTS OF THE COMMUNITY WITHIN THE SCOPE OF THE CORPORATION'S TAX-EXEMPT STATUS. PART X, LINE 2: THE VILLAGE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE CODES. THE VILLAGE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE VILLAGE'S FINANCIAL STATEMENTS. THE VILLAGE'S TAX RETURNS ARE SUBJECT TO REVIEW BY THE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -1,209,966. X X X X X 0 0 0 0 0 0 0 1 0 LEONARD WEISER PRESIDENT/CEO 266816 0 34690 0 12207 0 14881 0 10269 0 338863 0 0 0 JENNIFER K SCHILPP VP FINANCE 217028 0 19554 0 11665 0 12045 0 11225 0 271517 0 0 0 ROBERT J HIGGINS VP PROPERTY/FACILITIES 168516 0 14811 0 9992 0 8889 0 9853 0 212061 0 0 0 TINA BOUKALIS VP RESIDENT SERVICES 150292 0 13397 0 9115 0 8409 0 10885 0 192098 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 2019. LEONARD WEISER, PRESIDENT/CEO - $34,690 JENNIFER K. SCHILPP, VP FINANCE - $19,554 ROBERT J. HIGGINS, VP PROPERTY/FACILITIES - $14,811 TINA BOUKALIS, VP RESIDENT SERVICES - $13,397 BRITTANY BROWN, SENIOR DIRECTOR OF HEALTHCARE - $10,584 A DELAWARE CNTY AUTHORITY 231973437 245913HH4 2006-05-17 4865000 REFUND OF '96/'00 BONDS; FUNDING CAPITAL PROJECT 0 0 0 B DELAWARE CNTY AUTHORITY 231973437 245913HJ0 2006-05-17 35795000 REFUND OF '96/'00 BONDS; FUNDING CAPITAL PROJECT 0 0 0 C DELAWARE CNTY 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 17758333 35795000 295819 30826 6893094 28575261 2006 1 0 1 1 C 11000000 188620 48669 10762711 2010 0 0 1 1 A 0 0 0 0 1 0 1 B 0 0 0 0 1 0 1 C 0 0 0 0 1 0 1 A 0 0 1 0 1 1 MORGAN STANLEY 0 0 0 0 1 B 0 0 1 0 1 1 MORGAN STANLEY 0 0 0 0 1 C 0 0 1 0 1 1 WELLS FARGO 0 0 0 0 1 A 1 B 1 C 1 FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE UPDATED BY THE ORGANIZATION, THE SIGNIFICANT CHANGES WERE AS FOLLOWS: -THE SPECIFIC DUTIES OF THE BOARD OF DIRECTORS WERE NOT SPECIFICALLY STATED PREVIOUSLY, A PROVISION WAS ADDED TO LIST OUT SPECIFIC DUTIES, THIS WAS A FORMALIZATION OF EXISTING PRACTICES OF THE BOARD OF DIRECTORS. NOTABLY, THE PROVISION SPECIFICALLY STATES A REQUIREMENT TO REVIEW THE MISSION, VISION, VALUES, BYLAWS, AND ARTICLES OF INCORPORATION, WHEN NECESSARY. -EACH BOARD DIRECTOR MAY SERVE TWO, CONSECUTIVE THREE-YEAR TERMS, HOWEVER, NON-RESIDENT DIRECTORS MAY SERVE MORE THAN TWO TERMS IF THERE HAS BEEN A BREAK IN SERVICE FOR AT LEAST ONE YEAR AFTER THE CONCLUSION OF THE SECOND YEAR OF SERVICE. PREVIOUSLY, THERE WERE NO SET TERMS OR TERM LIMITS. 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 TEAM MEMBERS, OFFICERS 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. 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 ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -1,209,966. 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 0 1 0 0 0 0 WHITE HORSE VILLAGE ENDOWMENT FUND INC C 1362423 CASH TRANSFER