2025-02-03T13:32:46+00:00 2024-09-30 440160260 Forvis Mazars LLP 500 Ridgefield Court Asheville NC 28806 990 2023-10-01 561630158 The Forest At Duke Inc FORE 9199408000 2701 PICKETT ROAD Durham NC 27705 Anita L Holt CEO 9199408000 2025-02-03 true Amy Bibby P00445891 8282542254 2025-02-03 2023 2025-03-06 01:10:19Z Anita L Holt 2701 PICKETT ROAD Durham NC 27705 37948001 false X WWW.FORESTDUKE.ORG X 1988 NC TO PROVIDE A CARING, RESPONSIBLE RETIREMENT COMMUNITY BY ENHANCING RESIDENTS' LIVES. 12 12 457 20 0 0 333485 47472 27206249 28607518 -3504215 2481184 294026 209287 24329545 31345461 1033578 1213144 0 0 13695736 14764682 8397 6588 6588 14535976 17498323 29273687 33482737 -4944142 -2137276 146426388 183251223 134418996 173080715 12007392 10170508 TO PROVIDE A CARING, RESPONSIBLE COMMUNITY THAT FOSTERS THE INDEPENDENCE OF RESIDENTS OF RETIREMENT AGE BY ENHANCING THEIR CAPABILITY TO LEAD PURPOSEFUL, ACTIVE, HEALTHY AND SECURE LIVES. false false 28768396 1213144 28607518 The Forest at Duke welcomed its first residents in 1992 with a mission to provide a caring, responsible community that fosters the independence of residents of retirement age by enhancing their ability to lead purposeful, active, healthy and secure lives. The 47-acre campus is home to approximately 400 residents and includes 235 independent living residences, 32 assisted living suites and 58 skilled nursing residences. In 2007, The Forest was awarded a BBB+ credit rating by Fitch Ratings, achieved national Commission on Accreditation of Rehabilitation Facilities/Continuing Care Accreditation Commission (CARF-CCAC) accreditation, and received another health center deficiency free survey from the NC Department of Health Regulators. In 2007, The Forest also chose to participate in the Medicare Part A program and gained certification under Medicare. In December 2022, The Forest at Duke was reviewed by CARF-CCAC and earned another five-year term as an accredited continuing retirement community. The Forest has completed the construction of 15 cottage homes and all were occupied by the end of fiscal year 2015. The renovation to the Community Center, including enlarging the Fitness Center, enhancing dining and other interior program modifications, was completed by the end of fiscal year 2016. In June 2021, The Forest completed the financing to build a new health center on its current campus. The facility will have 90 new units in the "small house" format in a five-story, approximately 110,000 square foot building. The small house model of care is designed around houses (or groups of rooms) in which each house has 10 private rooms each with a bathroom and all common spaces and support areas located within the house. The small house model will provide the same scope of services, each neighborhood will have a team that provides the care, residents will have short walking distances to increase level of independence, resident privacy, additional dining and fitness venues. The project is complete and the residents moved into the new health center in February 2023. In November 2022, The Forest completed the financing for Phase Two of the project. The project includes the addition of seventy-one (71) new independent living apartments and an expanded community center which connects the existing community center to the health center. The expanded community center also includes service and amenity spaces such as additional dining, fitness area, classroom, multipurpose rooms, a clinic and office spaces. The new apartments have an average of 1,450 square feet with spacious open-living design floorplans, ten foot ceilings, and finishes commensurate with high-end real estate in the market area. Other features include gourmet kitchens with stainless steel appliances, large covered balconies or ground level patios for outdoor living in each apartment home. Each apartment home is expected to include assigned underground parking. Site work began in May 2023 and is anticipated to be completed by summer 2025. The Forest at Duke takes seriously its commitment to social responsibility and leadership. Outreach includes major annual corporate financial assistance to the Durham Council for Senior Citizens, the Durham Center for Senior Life, the Senior PHARMAssist Program, and Rogers-Herr Middle School. Throughout the year, other local non-profits are helped with cash, in-kind and volunteer donations as well. More than 75,000 resident volunteer hours per year benefit local schools, churches, Duke Hospitals and other area service organizations. The Forest Employee Educational Assistance Fund continues to award monies to over 20 Forest staff each year to further their education. The Forest continues to have strong associations with educational and licensing institutions. The community serves as a training site for: * Geriatric Fellows - Duke University Medical Center * Internal Medicine Residents - Duke University Medical Center * Nursing students - Watts School of Nursing * Interns in the Leadership in Aging Program - Duke University * Therapeutic recreation interns from surrounding universities * Nursing Home Administrators - The North Carolina Board of Licensing of Nursing Home Administrators The Forest actively participates with its peers in the industry through Association involvement. Forest employees often serve in leadership and as presenters at state and national educational sessions. The Forest maintains memberships in the following professional associations: * LeadingAge * Leading Age North Carolina * North Carolina Health Care Association * American Health Care Association * Durham Chamber of Commerce * North Carolina Coalition for Long Term Care Enhancement * Society for the Advancement of Gerontological Environments 28768396 true true false false false false false false false true false false false true true true false false false false false false false false false false true false true true false false false false false false false false false false false false false false false false false false false true 92 0 true 457 true false false false false false false false false false false false false X 12 12 false false false false false false false true true false false true true true true true true true true false X X Karen Henry 9194908000 2701 Pickett Road Durham NC 27705 Chuck Kennedy Chairman 4.0 X X 0 0 0 Craig Lewis Vice Chairman 4.0 X X 0 0 0 Craig Daniels Board Member 4.0 X 0 0 0 Denise Barnes Board Member 4.0 X 0 0 0 Edward Embree Board Member 4.0 X 0 0 0 George Brothers Jr Board Member 4.0 X 0 0 0 Harvey Cohen Past Chairman 4.0 X 0 0 0 James Freedman Board Member 4.0 X 0 0 0 Julie Wells Board Member 4.0 X 0 0 0 Kimberly Rehberg Board Member 4.0 X 0 0 0 Larry Moneta Board Member 4.0 X 0 0 0 Lynne Farber Board Member 4.0 X 0 0 0 Anita L Holt President, CEO 40.0 X 315308 0 34846 Karen E Henry CFO, Treasurer 40.0 X 210164 0 32548 Lee Ann Bailey-Clayton Director of Health Services 40.0 X 137222 0 10725 Nathan Summers Director of Community Services 40.0 X 132128 0 3025 Sharon Pitt COO 40.0 X 187627 0 26318 982449 0 107462 5 false true false QHC Staffing LLC 230 Scotland Dr Youngsville NC 27596 agency staffing 923523 Sysco Raleigh LLC PO Box 129 Selma NC 27516 food distributor 670569 Duke Health Integrated Practice Inc PO Box 604161 Charlotte NC 28260 physician services 491635 Directional Landscape Management 65 Glen Road Suite 205 Garner NC 27529 landscaping services 395428 NEMA Management LLC 1020 Southhill Drive Suite 180 Cary NC 27513 project management 333447 8 47472 47472 Service Fees 623000 18487097 18487097 Clinic and Health Center 623000 5315095 5315095 Entrance Fees 623000 4682718 4682718 Dining Services 623000 62008 62008 Application Fees 623000 60600 60600 0 0 0 0 28607518 1315356 1315356 58564 58564 5246 5246 0 5246 5246 7708409 6601145 1107264 0 1107264 1107264 5135 1395 3740 3740 Auxiliary Services 623000 200301 200301 0 0 0 0 200301 31345461 28607518 0 2690471 1213144 1213144 496095 99219 396876 11389205 8678364 2710841 257485 212324 45161 1753949 1446322 307627 867948 754368 113580 14774 14774 213224 213224 6588 6588 158760 158760 1485840 1397074 88766 0 116373 116373 2324706 1730742 593964 280942 272835 8107 1903668 1903668 141207 94879 46328 2021373 2021373 7028036 7028036 267584 267584 Food 1289140 1289140 Medical Supplies 242951 242951 Miscellaneous 9745 9745 0 0 0 0 33482737 28768396 4707753 6588 20013581 26702756 806541 726458 0 0 8082 78720 103551 189462743 67636084 94525870 121826659 29944045 33805495 963245 0 86304 86304 0 0 146426388 183251223 1247180 1523557 53976615 59706595 77756522 104972382 0 1438679 6878181 134418996 173080715 X 11556430 9773237 450962 397271 12007392 10170508 146426388 183251223 X -2137276 4201468 -3901076 X false true X true false X 100811 66054 83169 333485 47472 630991 26559320 25094614 25740809 27206249 28607518 133208510 0 0 0 26660131 25160668 25823978 27539734 28654990 133839501 194388 187199 214304 223826 226635 1046352 0 0 0 0 0 0 194388 187199 214304 223826 226635 1046352 132793149 698504 725152 710144 1926563 1379166 5439529 0 698504 725152 710144 1926563 1379166 5439529 0 180423 44673 1382402 288421 204043 2099962 27539058 25930493 27916524 29754718 30238199 141378992 0.9393 0.9421 0.04 0.0345 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - MISCELLANEOUS, COLUMN A - 180423.0, COLUMN B - 44673.0, COLUMN C - 1382402.0, COLUMN D - 288421.0, COLUMN E - 204043.0, COLUMN F - 2099962.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6111141 6111141 87243678 42900535 44343143 12032376 4130166 7902210 36380907 20605383 15775524 47694641 47694641 121826659 Retainage Payable 3940350 FV of Interest Rate Swap Payable 2937831 6878181 X 35389564 4201468 1395 4202863 31186701 158760 0 158760 31345461 33325372 1395 1395 33323977 158760 0 158760 33482737 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE FOREST IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE FOREST HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2024 AND 2023. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 GIFT SHOP PURCHASES WITH REVENUE - 1395 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 GIFT SHOP PURCHASES WITH REVENUE - 1395 true Alzheimers of North Carolina 133039601 501 c(3) 15000 Operating Support American Dance Festival 060932294 501 c(3) 15000 Operating Support Bennie Girl Healthy Lifestyle 463535375 501 c(3) 7500 Operating Support Book Harvest 452610533 501 c(3) 10000 Operating Support Boys & Girls Club of Durham 566001906 501 c(3) 30000 Operating Support Caring House 561647154 501 c(3) 80000 Operating Support CASA 561778714 501 c(3) 60000 Operating Support Center for Child and Family Health 581446309 501 c(3) 40000 Operating Support Chamber Orchestra of the Triangle 561610461 501 c(3) 15000 Operating Support Carolina Theater 561759337 501 c(3) 10000 Operating Support Community Health Coalition Inc 562269385 501 c(3) 35000 Operating Support Cristo Rey Research Triangle 832700481 501 c(3) 36000 Operating Support Dress for Success 262229898 501 c(3) 20000 Operating Support Durham Center for Senior Life 560886647 501 c(3) 50000 Operating Support Durham Colored Library 566001420 501 c(3) 30000 Operating Support Durham Library Foundation 562189129 501 c(3) 30000 Operating Support Durham Literacy Center 561479524 501 c(3) 45275 Operating Support Durham Nativity School 562274228 GOVT 30000 Operating Support Durham School of Technology 566001021 501 c(3) 17460 Operating Support Exchange Family Center 581978668 501 c(3) 50000 Operating Support Fayetteville Symphony Orchestra 581393271 501 c(3) 10000 Operating Support Full Frame Documentary Film Festival 561655039 501 c(3) 20000 Operating Support Greater Durham Chamber of Commerce 560207530 501 c(3) 15000 Operating Support Habitat for Humanity of Durham Inc 581674794 501 c(3) 7500 Operating Support Hayti Film Festival 851016955 501 c(3) 20000 Operating Support Hill Learning Center 562089788 501 c(3) 45000 Operating Support Housing for New Hope 582089068 501 c(3) 25000 Operating Support Kate's Corner 6409 Fayetteville Road Suite 120-2 Durham NC 27713 501 c(6) 30000 Operating Support Lakewood School 566001021 GOVT 42800 Operating Support Lincoln Community Health Center 561031244 501 c(3) 30150 Operating Support Local Start Dental 833397388 501 c(3) 50000 Operating Support Lyons Farm Elementary School 881410553 GOVT 15000 Operating Support Meals on Wheels of Durham 561729111 501 c(3) 45624 Operating Support Museum of Durham History 943455685 501 c(3) 9000 Operating Support Music Maker Foundation Inc 133782018 501 c(3) 10000 Operating Support North Carolina Reading Service 581528968 501 c(3) 7500 Operating Support Preservation Durham 237361218 501 c(3) 7500 Operating Support Rogers-Herr Middle School 566001021 GOVT 20000 Operating Support Senior PharmAssist 562084639 501 c(3) 35000 Operating Support Step Up Durham 474578727 501 c(3) 25000 Operating Support TROSA 561861158 501 c(3) 10000 Operating Support UNC - WUNC Public Radio 566001393 501 c(3) 10000 Operating Support Urban Ministries of Durham 581505891 501 c(3) 50000 Operating Support 42 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE ORGANIZATION HAS A COMMUNITY RELATIONS COMMITTEE CONSISTING OF BOARD MEMBERS, STAFF AND RESIDENTS THAT OVERSEES THE CONTRIBUTIONS MADE TO THE COMMUNITY. X X X false false false false false false false false false Anita L Holt President, CEO 315308 0 0 0 0 0 30000 0 4846 0 350154 0 0 0 Karen E Henry CFO, Treasurer 210164 0 0 0 0 0 30000 0 2548 0 242712 0 0 0 Sharon Pitt COO 187627 0 0 0 0 0 23938 0 2380 0 213945 0 0 0 A NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 2017-08-24 20210000 refinance series 2007 false false false B NORTH CAROLINA MEDICAL CARE COMMISSION 521309402 65820YSM9 2021-06-03 50818934 Column B: To construct and equip replacement health care center false false false C North CAROLINA MEDICAL CARE COMMISSION 521309402 2022-11-16 95570000 Column C: To construct and equip expansion false false false A 8370000 20210000 333998 19876002 2004 true false true true B 0 50818934 2423582 890237 46201151 1303964 2023 false false true true C 95570000 5413383 998420 1012000 44979293 50590707 false false false true A false true true true false 0.0 0.0 0.0 false false true B false false true true false 0.0 0.0 0.0 false false true C false false true true false 0.0 0.0 0.0 false false true A false false true false true false false false true B false true false false false false false false true C false true false false true true Truist Bank 14.8 false false false false true A true B true C true Schedule K, Part I PURPOSE OF SERIES 2017 ISSUE (Column A): THE PROCEEDS OF THIS ISSUE WERE USED TO REFINANCE THE SERIES 2007 BONDS ISSUED JULY 12, 2007. PURPOSE OF SERIES 2007 ISSUE: A PORTION OF THE RECEIPTS DERIVED FROM THE SALE OF THE SERIES 2007 BONDS WAS USED TO REFUND THE ISSUER'S SERIES 2002 BONDS, WHICH WERE ISSUED UNDER A TRUST AGREEMENT DATED MARCH 15, 2002 AND THE SERIES 2003B BONDS, WHICH WERE ISSUED UNDER A TRUST AGREEMENT DATED NOVEMBER 1, 2003. PROCEEDS OF THE SERIES 2003B BONDS WERE USED TO REFUND BONDS PREVIOUSLY ISSUED BY THE ISSUER IN 1994, WHICH WERE ISSUED TO FINANCE THE COST OF ACQUIRING, CONSTRUCTING, AND EQUIPPING A CONTINUING CARE RETIREMENT FACILITY IN DURHAM, NC KNOWN AS THE FOREST AT DUKE. PROCEEDS OF THE SERIES 2002 BONDS WERE ISSUED TO FINANCE THE COSTS OF AN EXPANSION AND RENOVATION OF THE FACILITY. Proceeds of the series 2021 bonds (Column B) were issued to construct and equip the replacement health center. Purpose of series 2022 issue (Column C): To construct and equip an expansion of and renovation to the facility, including 71 new independent living units and related improvements. Schedule K, Part II, Line 11 Schedule K, Part II, Line 11, Column A THE AMOUNTS PRESENTED ON LINE 11 for Column A AS OTHER SPENT PROCEEDS REPRESENT AMOUNTS USED TO REFUND PRIOR ISSUES. SEE THE EXPLANATION OF EACH BOND'S USE ABOVE. Schedule K, Part II, Line 11 The amounts presented on Line 11 for Column B as other spent proceeds represent unexpected surplus proceeds after completion of construction that were then used to pay interest on the 2021 Bonds. Form 990, Part VI, Line 18 THE ORGANIZATION'S FORM 990 IS AVAILABLE UPON REQUEST. ADDITIONALLY, RECENT FILINGS OF THE FORM ARE AVAILABLE ON WWW.GUIDESTAR.ORG. Form 990, Part VI, Line 11b Review of form 990 by governing body THE SUBCOMMITTEE OF THE BOARD REVIEWED THE FORM 990 BEFORE IT WAS SUBMITTED TO THE IRS. THE SUBCOMMITTEE REPORTED TO THE BOARD ON THE REVIEW OF THE FORM 990. EACH BOARD MEMBER RECEIVED AN ELECTRONIC VERSION OF THE RETURN FOR PERSONAL REVIEW WITH ANY QUESTIONS DIRECTED TO THE CFO. AFTER THE BOARD'S PERSONAL REVIEW, THE RETURN WAS APPROVED TO BE SUBMITTED TO THE IRS AS PRESENTED. Form 990, Part VI, Line 12c Conflict of interest policy BEFORE EACH BOARD MEETING, THE AGENDA IS PRESENTED TO THE BOARD. EACH BOARD MEMBER IS REQUIRED TO REVIEW THE MEETING AGENDA AND INDICATE IF THERE IS A POTENTIAL CONFLICT BY COMPLETING A CONFLICT OF INTEREST FORM AND HANDING IT IN PRIOR TO THE MEETING. IT IS REVIEWED AT THE TIME BY THE CEO AND ANY RELEVANT OR POTENTIAL CONFLICT, AS IT RELATES TO A SPECIFIC AGENDA ITEM, IS BROUGHT TO THE BOARD'S ATTENTION. Form 990, Part VI, Line 15a Process to establish compensation of top management official EACH YEAR, THE CEO AND CFO'S COMPENSATION ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS AT THEIR OCTOBER MEETING. COMPARABLE SALARY DATA FROM SURVEYS, OTHER 990S, AND PERFORMANCE EVALUATIONS ARE UTILIZED AS PART OF THE PROCESS. Form 990, Part VI, Line 15b Process to establish compensation of other employees EACH YEAR, THE CEO AND CFO'S COMPENSATION ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS AT THEIR OCTOBER MEETING. COMPARABLE SALARY DATA FROM SURVEYS, OTHER 990S, AND PERFORMANCE EVALUATIONS ARE UTILIZED AS PART OF THE PROCESS. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON SITE. THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON SITE, ON THE EMMA WEBSITE FOR MUNICIPAL SECURITIES, AND IN THE DISCLOSURE STATEMENT WITH THE DEPARTMENT OF INSURANCE. Form 990, Part XI, Line 9 Other changes in net assets or fund balances change in FMV of Interest Rate - -3901076; Form 990, Part XII, Line 2c THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.