2020-09-29T07:14:09-05:00 2019-12-31 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2019-01-01 522126753 RIDERWOOD VILLAGE INC RIDE 3015721300 3110 GRACEFIELD ROAD SILVER SPRING MD 20904 EILEEN ERSTAD TREASURER 3015721300 2020-09-29 1 JULIA FLANNERY CPA P00928918 4102469301 2020-09-29 73.213.141.28 2020-09-29 07:12:06 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4EE6A31F760B3C5EA0809148B0E883CC4242B14C 2019 2021-01-29 14:40:06Z EILEEN ERSTAD 3110 GRACEFIELD ROAD SILVER SPRING MD 20904 124217390 0 X WWW.NATIONALSENIORCAMPUSES.ORG X 1998 MD PROVIDE A HOME FOR SENIORS THAT SATISFIES THEIR THREE PRIMARY NEEDS. 13 9 1950 955 0 0 1052344 2008761 117763616 121436895 133240 4244 475759 438155 119424959 123888055 154572 196439 0 0 56203380 58397683 0 0 210671 68351317 69458285 124709269 128052407 -5284310 -4164352 650234777 691590363 671507636 691414328 -21272859 176035 X OUR MISSION IS TO PROMOTE AN ACTIVE AND ENGAGED QUALITY OF LIFE FOR SENIORS AND TO ACHIEVE EXCELLENCE IN SERVICES AND PROGRAMS WITH UNMATCHED VALUE FOR OUR PRESENT AND FUTURE RESIDENTS. WE WORK TO MAINTAIN AFFORDABILITY AND LIFELONG COMMITMENT FOR MIDDLE INCOME SENIORS WHILE ENSURING THE LONG-TERM FINANCIAL STABILITY OF THE COMMUNITY. 0 0 111248001 196439 121436895 RIDERWOOD VILLAGE PROVIDES SERVICES NEEDED BY SENIOR RESIDENTS, WHO RESIDE IN 1,812 INDEPENDENT LIVING UNITS, 212 ASSISTED LIVING UNITS, 117 SKILLED NURSING UNITS AND 34 MEMORY CARE UNITS. THE SERVICES WE PROVIDE TO OUR RESIDENTS INCLUDE, BUT ARE NOT LIMITED TO HOUSING, FOOD, MEDICAL, SECURITY AND MAINTENANCE SERVICES, RECREATIONAL AND PASTORAL ACTIVITIES. 111248001 1 1 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 91 0 1 1950 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X X MONIKA GAJDA 4104022311 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 X JIM ANDERS PRESIDENT/CHAIR (THRU 1/14/19) 0.00 X X 0 26563 0 MARY COLINS SECRETARY (BEG 4/1/19) 0.20 12.00 X X 0 126875 0 EILEEN ERSTAD PRES/CHAIR (BEG 10/1/19), TREAS 0.30 38.50 X X 0 136875 0 GROVER WRENN VICE CHAIR (THRU 9/15/19) 0.50 8.00 X X 0 82813 0 JIM HAYES VICE CHAIR 0.10 10.50 X X 0 108125 0 MICHELLE BOHREER DIRECTOR 0.10 27.50 X X 0 142500 0 JACKSON BAIN DIRECTOR 0.10 10.50 X 0 101875 0 BARBARA BISGAIER DIRECTOR 0.10 8.50 X 0 106563 0 BRUCE BEARDSLEY DIRECTOR (THRU 10/1/19) 0.50 34.50 X 0 151251 0 FRED HAAS DIRECTOR 0.20 12.00 X 0 84063 0 ZINA JACQUE DIRECTOR 0.20 15.00 X 0 90625 0 CAROLYN MARKEY DIRECTOR 0.20 10.00 X 0 75625 0 WILLOW PASLEY DIRECTOR (THRU 10/11/19) 0.20 8.00 X 0 88438 0 STEPHANIE REEL DIRECTOR 0.10 6.50 X 0 62500 0 MICHAEL ROSKIEWICZ DIRECTOR (BEG 4/1/19) 1.00 16.00 X 0 70625 0 ARNIE SPEERT DIRECTOR 0.30 12.50 X 0 88125 0 PATRICIA DAVIS DIRECTOR 8.90 X 0 20000 0 JOHN HALL ASSISTANT TREASURER 0.50 7.50 X 0 0 0 CHRIS RATHMANN ASSISTANT TREASURER 0.50 7.50 X 0 0 0 JAMES WALTER ASSISTANT TREASURER (THRU 3/31/19) 0.50 7.50 X 0 0 0 NEAL GANTERT ASSISTANT TREASURER (BEG 4/1/19) 0.50 7.50 X 0 0 0 GARY HIBBS EXECUTIVE DIRECTOR 40.00 X 283468 0 23720 MARK EMBLEY DIRECTOR OF FINANCE 40.00 X 151986 0 18501 PEACE OKE DIRECTOR NURSING 40.00 X 157354 0 5287 LOIS ERRERA REHABILITATION MANAGER 40.00 X 126492 0 21515 REBECCA KROPP SPEECH LANGUAGE PATHOLOGIST 40.00 40.00 X 123439 0 4538 MAUREEN AMUSO MANAGER HOME SUPPORT 40.00 X 123290 0 4087 RACHELLE DERAMOS ASSISTANT REHABILITATION MANAGER 40.00 X 121272 0 3814 ISATU MATHIS ASST DIR OF NURSING 40.00 40.00 X 94493 22465 22871 1181794 1585906 104333 24 0 1 0 ERICKSON LIVING MANAGEMENT 701 MAIDEN CHOICE LANE BALTIMORE MD 21228 MANAGEMENT - SEE SCH. O 12629618 PLANO-COUDON LLC 2101 WASHINGTON BLVD BALTIMORE MD 21230 CONTRACTOR 5815027 BUCH CONSTRUCTION INC 11292 BUCH WAY LAUREL MD 20723 CONTRACTOR 3721227 APC SERVICES LLC 5425 WISCONSIN AVENUE SUITE 600 CHEVY CHASE MD 20815 REPAIRS & MAINTENANCE 1405336 ABM FACILITY SUPPORT SERVICES LLC 12040 INDIAN CREEK CT BELTSVILLE MD 20705 REPAIRS & MAINTENANCE 1228862 30 3680 2005081 2008761 RESIDENT FEES 632311 103026265 103026265 ANCILLARY FEES 632311 18255101 18255101 RESIDENT DEPOSITS 632311 154479 154479 PROCESSING FEES 632311 1050 1050 121436895 297055 297055 438062 0 438062 438062 438062 29622 3345 325778 0 -296156 3345 -292811 -292811 3650 3680 3557 93 93 123888055 121436895 0 442399 9814 9814 186625 186625 640316 640316 46388363 40121997 6117574 148792 779665 675781 100366 3518 7038975 5835111 1189569 14295 3550364 3044008 495191 11165 4250163 4250163 35694 35694 80159 80159 15272 15272 10958402 4214638 6743234 530 3261174 3261174 9384938 8536820 841587 6531 9267921 9266546 1346 29 135953 63047 70452 2454 3396112 3396112 24572616 24572616 879413 879413 EQUIPMENT RENTAL 1926684 1874724 51960 CHARITY CARE 804707 804707 RESIDENT RELATIONS 465669 231297 211015 23357 AMORTIZATION EXPENSE 23408 23408 128052407 111248001 16593735 210671 3050 3050 20007767 13375441 3769464 3363642 10126137 15674000 181698 199910 1861465 2448749 674812850 218053831 458848298 456759019 2976574 7663132 152460324 192082504 0 20916 650234777 691590363 8882390 9048797 99549076 97851514 1353340 1244100 12207095 11251240 549515735 572018677 671507636 691414328 X -24661177 -3853579 3388318 4029614 -21272859 176035 650234777 691590363 X -4164352 79733 25533513 X 0 1 X 1 0 X 610503 883106 758320 1052344 2008761 5313034 116479889 121978662 115788593 117782791 121440545 593470480 117090392 122861768 116546913 118835135 123449306 598783514 100000 100000 100000 100000 100000 500000 0 100000 100000 100000 100000 100000 500000 598283514 831115 758141 676088 705205 735117 3705666 831115 758141 676088 705205 735117 3705666 117921507 123619909 117223001 119540340 124184423 602489180 0.99300 0.99240 0.00620 0.00670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 20838308 20838308 607489075 198426269 409062806 24563984 17953732 6610252 21921483 1673830 20247653 456759019 BENEFICIAL INTEREST IN CCI BENEVOLENT CARE FOUNDATION 27168 F BENEFICIAL INTERST IN NATIONAL CCRC BUSINESS TRUST 1 189117885 F FIXED INCOME SECURITIES 2937451 F 192082504 RESIDENT REFUNDS 9513020 RESIDENT DEPOSITS (NET) 553659049 ACCRUED LIABILITY ON SWAP AGREEMENTS 5081665 FUNDS HELD FOR RESIDENTS 34959 CLAIMS RESERVE 1884424 UNCLAIMED PROPERTY 38828 PARKING DEPOSITS 1575000 DEFERRED MANAGEMENT FEE 210816 CAPITAL LEASE 20916 572018677 X 153814718 79733 29521152 29600885 124213833 -325778 -325778 123888055 132365824 4313417 4313417 128052407 0 128052407 PART IV, LINE 2B: PROSPECTIVE RESIDENTS ARE REQUIRED TO MAKE CERTAIN INSTALLMENT PAYMENTS PRIOR TO THE FINAL SETTLEMENT OF THE GIVEN UNIT. THOSE ADVANCE DEPOSITS ARE REPORTED ON FORM 990, PART X, LINE 21. PART X, LINE 2: RIDERWOOD VILLAGE, INC. ("RWV") IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE STATE INCOME TAX REGULATIONS. SILVER OAKS CAMPUS, LLC ("SOC") IS A SINGLE-MEMBER LIMITED LIABILITY COMPANY AND HAS ELECTED TO BE DISREGARDED FOR FEDERAL AND STATE INCOME TAX PURPOSES. SOC'S FINANCIAL STATEMENT ACTIVITY IS REFLECTED ON RWV'S BOOKS AND RECORDS. MANAGEMENT HAS EVALUATED RWV'S TAX POSITIONS AND HAS CONCLUDED THAT RWV HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SPECIAL FUNDRAISING & GAMING EVENTS NETTED ON FORM 990 3,557. ADJUSTMENT TO NET ASSETS WITH DONOR RESTRICTIONS -3,557. CHANGE IN BENEFICIAL INTEREST IN NATIONAL CCRC BUSINESS TRUST I 29,521,152. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED LOSS ON INTEREST SWAP -325,778. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM SPECIAL FUNDRAISING & GAMING EVENTS NETTED ON FORM 990 3,557. ADJUSTMENT TO NET ASSETS WITH DONOR RESTRICTIONS -3,557. UNREALIZED LOSS ON SWAP AGREEMENT 3,836,894. REVERSAL OF PRIOR AMORTIZATION 150,745. REALIZED LOSS ON INTEREST SWAP 325,778. 1 ALZHEIMERS ASSOCIAITON NATIONAL CAPITAL AREA 3701 PENDER DR SUITE 400 FAIRFAX VA 22030 521219428 501(C)3 6064 GENERAL SUPPORT 1 0 EDUCATIONAL SCHOLARSHIPS - SEE PART IV 105 186625 0 SCHEDULE I, PART I, LINE 2 SCHOLAR CANDIDATES MUST BE CURRENTLY EMPLOYED YEAR-ROUND AT RIDERWOOD VILLAGE. ONLY MEDICAL LEAVES OF ABSENCE ARE ALLOWABLE DURING THE TWO YEARS. OTHER REQUESTS FOR A LEAVE OF ABSENCE WILL BE REVIEWED AND DETERMINED CASE BY CASE. A SCHOLAR CANDIDATE MUST HAVE BEEN EMPLOYED BY RIDERWOOD VILLAGE ON OR BEFORE SEPTEMBER 30, OF THE START OF THEIR JUNIOR YEAR IN HIGH SCHOOL. THE CANDIDATE MUST ALSO ACHIEVE 1,000 HOURS OF WORK DURING A TIME SPAN THAT BEGINS NO EARLIER THAN JUNE 1, OF THEIR JUNIOR YEAR OF HIGH SCHOOL (300 OF 1,000 HOURS MUST BE COMPLETED BY THE END OF THEIR JUNIOR YEAR OF HIGH SCHOOL TO QUALIFY). ANY HOURS WORKED PRIOR TO JUNE 1, OF THE START OF THEIR JUNIOR YEAR DO NOT COUNT TOWARDS THE 1,000 HOURS REQUIREMENT. CANDIDATES MUST ACHIEVE THE 1,000 HOUR REQUIREMENT AS WELL AS FULFILL THE TWO-YEAR MINIMUM EMPLOYMENT REQUIREMENT. CANDIDATES MUST BE IN "GOOD STANDING" FROM THEIR ORIGINAL DATE OF HIRE THROUGH THEIR LAST DAY OF WORK. TO MAINTAIN "GOOD STANDING," SCHOLAR CANDIDATES, AS EMPLOYEES, MUST ABIDE BY ALL EMPLOYMENT POLICIES AND PROCEDURES, TO INCLUDE GIVING TWO WEEKS NOTICE TO THEIR SUPERVISOR WHEN TERMINATING EMPLOYMENT. SCHOLAR CANDIDATES MUST COMPLETE EACH STEP AS OUTLINED IN THE PROGRAM DESCRIPTION BY THE RESPECTIVE DUE DATE. FURTHERMORE, CANDIDATES MUST TURN IN PROOF OF FULL-TIME STATUS WITHIN THE DATES SPECIFIED IN THE PROGRAM DESCRIPTION FOR EACH SPRING AND FALL SEMESTER THEY ATTEND SCHOOL. FAILURE TO DO SO WILL DISQUALIFY THE SCHOLAR THAT SEMESTER AND WILL COUNT TOWARDS ONE OF THE TWO ALLOWABLE SEMESTER LAPSES. CANDIDATES SHOULD INTEND TO GO TO COLLEGE OR TRADE SCHOOL AFTER HIGH SCHOOL. SCHOLAR CANDIDATES MUST ATTEND SCHOOL FULL-TIME (12 CREDIT HOURS EACH SEMESTER) AFTER HIGH SCHOOL. SCHOLAR CANDIDATES MUST BE ACCEPTED AND/OR REGISTERED IN THE FALL OF 2019 AT A TRADE SCHOOL, COLLEGE, OR UNIVERSITY TO BENEFIT. (IN EXCEPTIONAL CASES, A SCHOLAR CANDIDATE MAY ARRANGE TO START SCHOOL UP TO TWO SEMESTERS AFTER BEING INDUCTED INTO THE PROGRAM, BUT THEY MUST MAKE ARRANGEMENTS WITH THE RESIDENT LIFE DEPARTMENT. THESE TWO SEMESTERS WILL COUNT AS THE TWO ALLOCABLE SEMESTER LAPSES.) SCHOLARS WHO LAPSE FROM THE PROGRAM FOR MORE THAN A TOTAL OF TWO SEMESTERS AFTER BEING INDUCTED INTO THE PROGRAM ARE NO LONGER ELIGIBLE TO RECEIVE THE AWARD. X X X 0 0 0 0 0 0 0 1 0 BRUCE BEARDSLEY DIRECTOR (THRU 10/1/19) 0 142916 0 0 0 8335 0 0 0 0 0 151251 0 0 GARY HIBBS EXECUTIVE DIRECTOR 214735 0 61000 0 7733 0 750 0 22970 0 307188 0 0 0 MARK EMBLEY DIRECTOR OF FINANCE 131878 0 19717 0 391 0 750 0 17751 0 170487 0 0 0 PEACE OKE DIRECTOR NURSING 136552 0 20252 0 550 0 4878 0 409 0 162641 0 0 0 PART I, LINE 7 THE EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A, LINE 1A RECEIVED A DISCRETIONARY BONUS DURING THE YEAR. SCHEDULE J, PART II: INDIVIDUALS GARY HIBBS AND MARK EMBLEY ARE LISTED IN SCHEDULE J, PART II AND ARE EMPLOYEES OF ERICKSON LIVING MANAGEMENT, LLC ("ELM"), AN UNRELATED ORGANIZATION TO RIDERWOOD VILLAGE, INC., IN ACCORDANCE WITH THE MANAGEMENT AGREEMENT BETWEEN RIDERWOOD VILLAGE, INC. AND ELM. SEE SCHEDULE O EXPLANATION FOR FORM 990, PART VI, SECTION A, LINE 3. THEREFORE, FOR IRS MATCHING PURPOSES, ELM IS THE ISSUER OF THESE FORMS W-2. UNDER THE MANAGEMENT AGREEMENT, RIDERWOOD VILLAGE, INC. REIMBURSES ELM FOR THE COST OF SERVICES PERFORMED FOR RIDERWOOD VILLAGE, INC. A MONTGOMERY COUNTY MARYLAND 526000980 2019-01-01 99668000 REISSUE OF PRIOR BOND 2015 A&B. 0 0 0 A 1592000 99668000 99668000 2018 1 0 0 1 A 1 1 1 1 0 0 0 1 A 0 1 0 0 1 1 M&T BANK 9.000000000000 0 0 0 0 1 A 1 PART III, LINE 1: THE ORGANIZATION IS THE SOLE MEMBER OF A DISREGARDED ENTITY WHICH OWNS BOND-FINANCED PROPERTY. PART III, COLUMN A, LINES 4 & 6: THE PERCENTAGE IS LESS THAN 1%. FORM 990, PART VI, SECTION A, LINE 1 IF THERE ARE MATERIAL DIFFERENCES IN VOTING RIGHTS AMONG MEMBERS OF THE GOVERNING BODY, OR IF THE GOVERNING BODY DELEGATED BROAD AUTHORITY TO AN EXECUTIVE COMMITTEE OR SIMILAR COMMITTEE, EXPLAIN IN SCHEDULE O. UNDER THE BYLAWS OF THE ORGANIZATION, THE BOARD HAS DELEGATED AUTHORITY TO AN EXECUTIVE COMMITTEE COMPRISED OF THE ORGANIZATION'S CHAIRMAN, PRESIDENT, SECRETARY AND TREASURER. THE EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE ORGANIZATION EXCEPT FOR THOSE ACTIONS RESERVED SOLELY TO THE MEMBER OR THE DIRECTORS UNDER THE GENERAL LAWS OF THE STATE OF MARYLAND. FORM 990, PART VI, SECTION A, LINE 1B: ENTER THE NUMBER OF VOTING MEMBERS INCLUDED ON LINE 1A, ABOVE, WHO ARE INDEPENDENT. THE BOARD MEMBERS THAT ARE DEEMED NOT INDEPENDENT ON THE FORM 990 ARE THOSE INDIVIDUALS WHO RECEIVE COMPENSATION AS AN OFFICER OR OTHER EMPLOYEE FROM THE ORGANIZATION OR FROM A RELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 DID THE ORGANIZATION DELEGATE CONTROL OVER MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS, DIRECTORS, OR TRUSTEES, OR KEY EMPLOYEES TO A MANAGEMENT COMPANY OR OTHER PERSON? RIDERWOOD VILLAGE, INC. ENTERED INTO AMENDMENTS TO THE EXISTING AMENDED & RESTATED MANAGEMENT AGREEMENT ALREADY IN EFFECT WITH ERICKSON LIVING MANAGEMENT, LLC ("ELM"). THE AMENDMENTS WERE EFFECTIVE AS OF NOVEMBER 1, 2017 AND MARCH 22, 2018. THE AMENDMENTS ELIMINATED CERTAIN "DEADWOOD" REFERENCES, UPDATED REFERENCES TO CURRENT FINANCING DOCUMENTS, AND MADE CHANGES TO CERTAIN DEFINED TERMS IN THE AGREEMENT. ELM IS A MARYLAND LIMITED LIABILITY COMPANY WHICH MANAGES LARGE SCALE CONTINUING CARE RETIREMENT COMMUNITIES. THE MANAGEMENT AGREEMENT COMPLIES WITH REV. PROC. 2017-13. THE FOLLOWING OFFICERS ARE LISTED IN PART VII, AS NON-COMPENSATED OFFICERS OF THE FILING ORGANIZATION, JOHN HALL, JAMES WALTER, CHRIS RATHMANN AND NEAL GANTERT. THEIR DUTIES ARE CONSIDERED PERFORMED PRO BONO. GARY HIBBS, EXECUTIVE DIRECTOR AND MARK EMBLEY, DIRECTOR OF FINANCE, ARE LEASED EMPLOYEES FROM THE MANAGEMENT COMPANY. THE FILING ORGANIZATION REIMBURSES THE MANAGEMENT COMPANY FOR THEIR COMPENSATION WHICH IS REPORTED ON FORM 990, PART VII, SECTION A. FORM 990, PART VI, SECTION A, LINE 6 DID THE ORGANIZATION HAVE MEMBERS OR STOCKHOLDERS? RIDERWOOD VILLAGE, INC.'S SOLE MEMBER IS NATIONAL SENIOR CAMPUSES, INC. ("NSC"). NSC IS A MARYLAND NON-STOCK CORPORATION. NSC IS A "SUPPORTING ORGANIZATION" WITH RESPECT TO RIDERWOOD VILLAGE, AS WELL AS CERTAIN OTHER ORGANIZATIONS SPECIFIED IN ITS GOVERNING DOCUMENTS. AS REQUIRED BY THE REGULATIONS RELATING TO "SUPPORTING ORGANIZATIONS," CERTAIN MEMBERS OF THE BOARD OF DIRECTORS OF NSC WILL ALSO BE MEMBERS OF THE BOARD OF DIRECTORS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A DID THE ORGANIZATION HAVE MEMBERS, STOCKHOLDERS, OR OTHER PERSONS WHO HAD THE POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY? THE BOARD OF DIRECTORS MAY NOMINATE A SLATE OF CANDIDATES FOR CONSIDERATION BY THE MEMBER, BUT THE MEMBER HAS SOLE DISCRETION TO ELECT DIRECTORS WHETHER OR NOT NOMINATED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ARE ANY GOVERNANCE DECISIONS OF THE ORGANIZATION RESERVED TO (OR SUBJECT TO APPROVAL BY) MEMBERS, STOCKHOLDERS, OR PERSONS OTHER THAN THE GOVERNING BODY? CERTAIN EXTRAORDINARY ACTIONS OF THE CORPORATION REQUIRE THE APPROVAL OF THE MEMBER UNDER APPLICABLE STATE LAW. UNDER THE ORGANIZATION'S BYLAWS, CERTAIN GOVERNANCE DECISIONS ARE MADE BY THE BOARD WITH THE CONSENT OF THE MEMBER AS SHARED POWERS AND CERTAIN GOVERNANCE DECISIONS ARE RESERVED TO THE MEMBER. SHARED POWERS INCLUDE AMENDMENTS TO ANY OF THE COMMUNITY DOCUMENTS (EXCEPT WHERE IT INVOLVES A RESERVED POWER), APPROVAL OF ALL CONTRACTS WITH OR PAYMENTS TO THE MEMBER OR OTHER RELATED ENTITIES (OTHER THAN GOVERNANCE COSTS OF THE MEMBER), AUTHORIZING THE FILING OF ANY BANKRUPTCY, CHANGES TO SHARED POWERS, A SIGNIFICANT EXPANSION OR NEW LINE OF BUSINESS JUST INVOLVING THE ORGANIZATION, AND SELECTION OF THE MANAGEMENT COMPANY. RESERVED POWERS OF THE MEMBER INCLUDE: APPROVAL OF POLICIES AFFECTING MORE THAN ONE COMMUNITY; SPONSORSHIP OF A NEW COMMUNITY; PAYMENT OF REASONABLE AMOUNTS TO COVER THE MEMBER'S OPERATING COSTS; THE EXECUTION OF JOINT PURCHASE CONTRACTS OR SIMILAR AGREEMENTS ALONG WITH AFFILIATE(S); THE DISPOSITION OR PLEDGE OF ALL OR SUBSTANTIALLY ALL OF THE ORGANIZATION'S ASSETS (OTHER THAN A PLEDGE IN CONNECTION WITH AN ASSET OR FINANCING TRANSACTION); COMPENSATION OF OFFICERS, DIRECTORS AND ADVISORY COMMITTEE MEMBERS; AND APPROVAL OF CONTRACTS, AMENDMENTS, ETC. AFFECTING THE ORGANIZATION AND ONE OR MORE RELATED ENTITIES OR THE RESIDENTS OF THEIR COMMUNITIES. FORM 990, PART VI, SECTION B, LINE 11B HAS THE ORGANIZATION PROVIDED A COMPLETE COPY OF THIS FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY BEFORE FILING THE FORM? THE CHAIR OF THE AUDIT, INVESTMENT, AND TREASURY COMMITTEE APPOINTS THE REVIEWER OF THE FORM 990. ONCE THAT REVIEW IS COMPLETE, THE FULL BOARD IS GIVEN THE OPPORTUNITY TO REVIEW THE FINAL VERSION OF FORM 990 BEFORE IT IS FILED AND ASK QUESTIONS OF THE REVIEWER REGARDING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C DID THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THE POLICY? ALL DIRECTORS, OFFICERS, KEY EMPLOYEES, EMPLOYEES AND VOLUNTEERS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER RIDERWOOD VILLAGE, INC.'S AFFAIRS, COMMITTEE MEMBERS, PROSPECTIVE DIRECTORS, AND SENIOR STAFF PROVIDING SERVICES TO THE ORGANIZATION UNDER A MANAGEMENT AGREEMENT COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY AND AS POTENTIAL CONFLICTS ARISE DURING THE YEAR. THE DIRECTOR CONFLICT OF INTEREST STATEMENTS ARE REVIEWED BY THE BOARD CHAIR. IF THE CONFLICT INVOLVES A COVERED EMPLOYEE, THE CHAIR DETERMINES WHETHER A CONFLICT EXISTS AND, IF SO, HOW IT IS TO BE HANDLED, OR THE CHAIR MAY REFER THE MATTER TO THE BOARD OF DIRECTORS FOR CONSIDERATION. FOR ALL OTHER CONFLICTS, THE BOARD OF DIRECTORS OR A COMMITTEE OF DISINTERESTED DIRECTORS WILL DETERMINE WHETHER A CONFLICT ACTUALLY EXISTS. A COVERED PERSON MAY NOT PARTICIPATE IN ANY DISCUSSION OR DEBATE BY THE BOARD BUT MAY ANSWER QUESTIONS OR PROVIDE CLARIFYING INFORMATION UNLESS ANY BOARD MEMBER OBJECTS. FORM 990, PART VI, SECTION B, LINE 15 DID THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT OFFICIAL, OR OTHER OFFICERS OR KEY EMPLOYEES, INCLUDE A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION? THE BOARD HAS APPROVED A DIRECTORS' COMPENSATION POLICY WHICH ESTABLISHES THE PROCESS BY WHICH ALL DIRECTOR COMPENSATION IS DETERMINED. OFFICERS SERVE WITHOUT COMPENSATION. A REVIEW OF THE DIRECTORS' COMPENSATION IS CONDUCTED EACH FISCAL YEAR. AN INDEPENDENT COMPENSATION CONSULTANT IS PERIODICALLY RETAINED TO PERFORM AN ANALYSIS OF RIDERWOOD VILLAGE, INC.'S COMPENSATION USING COMPARABLES OF BOTH FOR-PROFIT AND NON-PROFIT PEERS. A COMMITTEE OF THE NSC BOARD REVIEWS THE CONSULTANT'S REPORT AND MAKES A RECOMMENDATION TO THE ORGANIZATION AS TO APPROPRIATE COMPENSATION OF DIRECTORS. THE COMMITTEE OF THE NSC BOARD HAS ACCESS TO THE CONSULTANT'S REPORT AND AN OPPORTUNITY TO QUESTION THE CONSULTANT ABOUT THE PROCESS, METRICS, AND COMPARABLES THAT WERE USED IN DETERMINING THE RECOMMENDED COMPENSATION. THE BOARD THEN VOTES ON THE COMPENSATION RECOMMENDATIONS AND A CONTEMPORANEOUS RECORD IS MADE OF THE MEETING AND THE VOTE. NSC COMMISSIONED A COMPENSATION STUDY IN 2017. IT WAS APPROVED BY NSC IN 2017 FOR IMPLEMENTATION APRIL 1, 2018. IT WAS APPROVED BY NSC ACTING AS THE SOLE MEMBER OF THE COMMUNITY ON MARCH 22, 2018. COMPENSATION IS APPROACHED ON AN OVERALL BASIS AND THE TOTAL VALUE OF ALL FORMS OF COMPENSATION IS ESTABLISHED AND MONITORED. THERE IS A COMPREHENSIVE COMPENSATION REVIEW PERFORMED ANNUALLY FOR THE EXECUTIVE DIRECTOR AND OTHER KEY MANAGEMENT PERSONNEL. THE COMPENSATION IS REVIEWED, DOCUMENTED, AND APPROVED BY THE BOARD DURING THE BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 DESCRIBE WHETHER (AND IF SO, HOW) THE ORGANIZATION MADE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE EXECUTIVE DIRECTOR'S OFFICE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION B: INDEPENDENT CONTRACTORS COMPENSATION. THE AMOUNT INCLUDED IN COLUMN (C) FOR ERICKSON LIVING MANAGEMENT IS FOR PAYMENTS MADE FOR MANAGEMENT SERVICES AND THE DIRECT AND SHARED COSTS ALLOCATED TO THE COMMUNITY. DIRECT AND SHARED COSTS INCLUDE SALARIES AND BENEFITS FOR MANAGEMENT PERSONNEL, AND THE USE OF SERVICES SUCH AS FINANCE, LEGAL, HUMAN RESOURCES, INFORMATION SERVICES, AND OPERATIONS. FORM 990, PART VII, SECTION A: REPORTABLE COMPENSATION FROM THE ORGANIZATION AND FROM RELATED ORGANIZATIONS. THE COMPENSATION INCLUDED IN COLUMNS D AND E FOR THE BOARD DIRECTORS IS FOR SERVICES PERFORMED FOR THE FILING ORGANIZATION AND ALL RELATED ORGANIZATIONS INCLUDED ON SCHEDULE R, PART II. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NATIONAL CCRC BUSINESS TRUST I 29,521,152. UNREALIZED LOSS ON SWAP AGREEMENT -3,836,894. REVERSAL OF PRIOR AMORTIZATION -150,745. 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