2020-11-02T13:42:01-06:00 2019-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2019-01-01 232212842 WAVERLY HEIGHTS LTD WAVE 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ROBERT L SUPPER SENIOR VP & CFO 6106458600 2020-10-29 1 SETH BRODY P01586423 2156433900 2020-10-21 67.137.57.251 2020-10-29 08:08:57 ED P B9410AED5E3544F88E7F1364350661432485FF60 86F8558C6B0EFE4E5CB408553D891A5E7661590B 2019 2021-01-29 14:40:06Z THOMAS P GARVIN 1400 WAVERLY ROAD GLADWYNE PA 190351254 38476013 0 X WWW.WAVERLYHEIGHTSLTD.ORG X 1982 PA TO PROVIDE SENIORS AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE & RESPECTFUL COMMUNITY 19 19 471 50 2519398 1700137 494615 680812 31657732 30846387 2934701 3665662 928511 908537 36015559 36101398 57676 69276 0 0 16157207 16721897 0 0 0 17053568 17986588 33268451 34777761 2747108 1323637 153067051 158618595 137728892 178323301 15338159 -19704706 WAVERLY HEIGHTS IS A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE SENIORS AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE AND RESPECTFUL COMMUNITY. 0 0 17103689 69276 30846387 A LIFE PLAN COMMUNITY PROVIDING QUALITY LIFECARE SERVICES TO ITS RESIDENTS WHILE SERVING THEIR PHYSICAL, EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND HEALTH NEEDS. THESE SERVICES ARE PROVIDED TO RESIDENTS THROUGH THE OPERATION OF 220 INDEPENDENT LIVING UNITS, A 49 PRIVATE UNIT SKILLED NURSING FACILITY AND A 49 PRIVATE UNIT PERSONAL CARE FACILITY. 17103689 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 1 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 1 0 0 1 138 0 471 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ROBERT L SUPPER 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ROBERT K BARRY TRUSTEE 1.50 0.00 X 0 0 0 GARY L BRAGG TRUSTEE 1.50 0.00 X 0 0 0 R MICHAEL BUCKLEY TRUSTEE 1.50 0.00 X 0 0 0 ELEANOR L DAVIS TRUSTEE 1.50 0.00 X 0 0 0 STEPHEN W FUGALE TRUSTEE 1.50 0.00 X 0 0 0 ANDREA GILBERT TRUSTEE 1.50 0.00 X 0 0 0 WILLIAM Y GILES TRUSTEE 1.50 0.00 X 0 0 0 GERALD J HANSEN TRUSTEE 1.50 0.00 X 0 0 0 STEVE KIRKPATRICK TRUSTEE 1.50 0.00 X 0 0 0 EDWIN B MAHONEY TRUSTEE 1.50 0.00 X 0 0 0 KATHLEEN A MCENDY TRUSTEE 1.50 0.00 X 0 0 0 ELIZABETH P MCLEAN TRUSTEE 1.50 0.00 X 0 0 0 HOWARD L MEYERS TRUSTEE 1.50 0.00 X 0 0 0 A GERALD RENTHAL TRUSTEE 1.50 0.00 X 0 0 0 AMBASSADOR KATHERINE SHIRLEY TRUSTEE 1.50 0.00 X 0 0 0 SCOTT M JENKINS CHAIR 1.50 0.25 X X 0 0 0 ROBERT ROBINSON VICE CHAIR 1.50 0.25 X X 0 0 0 ANNE N CONROY TREASURER 1.50 0.25 X X 0 0 0 RICHARD E BAUER SECRETARY 1.50 0.25 X X 0 0 0 DONALD R FLEISCHER VICE CHAIR TO OCTOBER 2019 1.50 0.00 X X 0 0 0 JOHN H BALL TRUSTEE TO OCTOBER 2019 1.50 0.00 X 0 0 0 ANITA A SUMMERS TRUSTEE TO OCTOBER 2019 1.50 0.00 X 0 0 0 HOWARD BUZZARD TRUSTEE TO JULY 2019 1.50 0.00 X 0 0 0 ANNE MARIE HEIL TRUSTEE TO JULY 2019 1.50 0.00 X 0 0 0 THOMAS P GARVIN PRESIDENT & CEO 45.00 0.25 X 533510 0 30438 ROBERT L SUPPER SENIOR VP & CFO 45.00 0.00 X 327435 0 29761 MEREDITH FEHER SENIOR VP OF HEALTH CARE SERVICES 45.00 0.00 X 238847 0 29036 PATRICIA RODGERS VP & DIRECTOR OF WCA OPERATIONS 45.00 0.00 X 202305 0 24061 JANET THOMPSON VP OF MARKETING 45.00 0.00 X 200217 0 23396 MARC HEIL VP OF BUILDING SERVICES 45.00 0.00 X 157224 0 26719 LAUREN KELLEY VP OF HUMAN RESOURCES 45.00 0.00 X 153674 0 27530 JACQUELINE DONNELLY DIRECTOR OF NURSING 45.00 0.00 X 154636 0 10716 1967848 0 201657 11 0 1 0 LIBERTY BUILDERS 619 ELLIS ROAD HAVERTOWN PA 19083 CONSTRUCTION 1387900 WS CUMBY INC 938 LINCOLN AVENUE SPRINGFIELD PA 19064 CONSTRUCTION 1379222 REHABCARE 7733 FORSYTH BLVD SUITE 1700 ST LOUIS MO 63105 HEALTHCARE 924366 SYSCO PHILADELPHIA LLC PO BOX 6499 PHILADELPHIA PA 19145 DINING 582997 UNIDINE CORPORATION PO BOX 102289 ATLANTA GA 30368 FOOD SERVICES 504174 23 680812 17171 680812 RESIDENT CARE FEES 623990 17527563 17527563 SKILLED NURSING FACILITY 623990 5356459 5356459 PERSONAL CARE 623990 3336468 3336468 AMORTIZATION OF DEFERRED REVENUE 623990 1644204 1644204 MEMORY SERVICES 623990 1390628 1390628 1591065 1591065 30846387 3356417 1705137 1651280 90079 0 90079 90079 90079 2657860 26000 2365422 9193 292438 16807 309245 309245 MANAGEMENT FEE 561000 814261 814261 OTHER INCOME 900099 4197 4197 818458 36101398 30846387 2519398 2054801 69276 69276 1194932 1194932 11656256 9613642 2042614 836846 836846 2135696 44803 2090893 898167 733049 165118 32479 32479 55128 55128 72371 72371 1780035 1645818 134217 139942 64 139878 382959 57786 325173 236359 236359 2908529 1191856 1716673 64239 8096 56143 21045 7071 13974 1804925 1804925 5955563 5955563 355469 355469 DINING SERVICES 1759567 1735447 24120 SUPPLIES 1242241 1161958 80283 MAINTENANCE & REPAIRS 837929 834823 3106 UBIT 337808 337808 34777761 17103689 17674072 0 1258667 1558990 4456979 2991748 378571 683253 6554552 5948063 70461 83824 951232 1221898 140310334 45144208 97820300 95166126 39687085 49013334 1732987 1836870 156217 114489 153067051 158618595 5571635 4099099 83970627 125174648 47180578 47987704 1006052 1061850 137728892 178323301 X 14383490 -21076338 954669 1371632 15338159 -19704706 153067051 158618595 X 1323637 5850313 -42216815 X 0 1 X 1 0 X 261815 233624 456942 494615 680812 2127808 29012643 29932240 29587105 31657732 30846387 151036107 29274458 30165864 30044047 32152347 31527199 153163915 100703 25000 288825 140500 555028 0 100703 25000 288825 140500 555028 152608887 254039 47314 339002 1679615 1741359 4061329 746158 806222 908256 1310117 1703137 5473890 1000197 853536 1247258 2989732 3444496 9535219 4197 4197 30274655 31019400 31291305 35142079 34975892 162703331 0.93800 0.92410 0.05860 0.05090 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 4,197. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 954669 680812 263849 1371632 677997 494615 217943 954669 457763 456942 236708 677997 480639 233624 256500 457763 452436 261815 233612 480639 0.00000 0.05110 0.94890 0 0 11505208 11505208 61151155 16607911 44543244 40053661 16138473 23915188 26621177 12025996 14595181 979133 371828 607305 95166126 RESIDENT DEPOSITS 1061850 1061850 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO BE USED FOR: RESIDENTS' ASSISTANCE, EMPLOYEES' ASSISTANCE, AND CAPITAL IMPROVEMENTS. PART X, LINE 2: WAVERLY HEIGHTS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM STATE INCOME TAXES UNDER THE COMMONWEALTH OF PENNSYLVANIA STATUTES. WAVERLY HEIGHTS FOLLOWS THE PROVISIONS OF THE INCOME TAX ACCOUNTING STANDARDS REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. IT IS WAVERLY HEIGHTS POLICY TO ACCOUNT FOR ANY INTEREST OR PENALTIES ASSESSED RELATING TO UNCERTAIN TAX POSITIONS, IF ANY, AS GENERAL AND ADMINISTRATIVE EXPENSES. WAVERLY HEIGHTS DID NOT INCUR ANY INTEREST OR PENALTIES FOR THE YEARS ENDED DECEMBER 31, 2019 OR 2018. THE APPLICATION OF THESE PROVISIONS HAS NO IMPACT ON THE WAVERLY HEIGHTS CONSOLIDATED FINANCIAL STATEMENTS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 97804 0 0 0 0 0 0 97804 0 97804 0 0 1 0 0 0 PART III ACCOUNTING METHOD: 1 MONTHLY MAINTENANCE FEE ASSISTANCE 1 69276 0 PART I, LINE 2: WAVERLY HEIGHTS MAINTAINS COMPLETE CONTROL OVER THE APPLICATION OF THE ASSISTANCE TO RESIDENTS ACCOUNTS AND IS THEREFORE ABLE TO CONFIRM ALL ASSISTANCE IS USED FOR ITS INTENDED PURPOSE. NO FUNDS ARE RELEASED TO THE RECIPIENTS DIRECTLY. X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 THOMAS P GARVIN PRESIDENT & CEO 359930 0 153176 0 20404 0 0 0 30438 0 563948 0 0 0 ROBERT L SUPPER SENIOR VP & CFO 222494 0 92941 0 12000 0 0 0 29761 0 357196 0 0 0 MEREDITH FEHER SENIOR VP OF HEALTH CARE SERVICES 178106 0 60706 0 35 0 0 0 29036 0 267883 0 0 0 PATRICIA RODGERS VP & DIRECTOR OF WCA OPERATIONS 145888 0 56417 0 0 0 0 0 24061 0 226366 0 0 0 JANET THOMPSON VP OF MARKETING 136495 0 63722 0 0 0 0 0 23396 0 223613 0 0 0 MARC HEIL VP OF BUILDING SERVICES 133762 0 23462 0 0 0 0 0 26719 0 183943 0 0 0 LAUREN KELLEY VP OF HUMAN RESOURCES 128322 0 25352 0 0 0 0 0 27530 0 181204 0 0 0 JACQUELINE DONNELLY DIRECTOR OF NURSING 129385 0 25251 0 0 0 0 0 10716 0 165352 0 0 0 PART I, LINE 1A THOMAS P. GARVIN, CEO: TRAVEL FOR COMPANIONS TOTALED $2,067, HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES TOTALED $6,669. THESE PAYMENTS ARE TREATED AS TAXABLE INCOME TO THE CEO. PART I, LINE 7 THE BONUS/INCENTIVE PAYMENTS MADE BY THE ORGANIZATION ARE CONSIDERED NON-FIXED PAYMENTS BECAUSE THE DETERMINATION OF THE AMOUNT RECEIVED INVOLVES DISCRETION. BONUSES/INCENTIVES ARE CALCULATED AS A PERCENTAGE OF THE EMPLOYEE'S BASE SALARY. THIS PERCENTAGE IS NOT FIXED, BUT IT IS LIMITED TO A NARROW PRE-SET RANGE. THE BOARD HUMAN RESOURCES COMMITTEE TAKES INTO ACCOUNT MANY FACTORS IN DETERMINING IF A BONUS/INCENTIVE WILL BE PAID AND IF SO AT WHAT PERCENTAGE. THESE FACTORS INCLUDE BUT ARE NOT LIMITED TO: USE OF COMPARABILITY DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT, EMPLOYEE PERFORMANCE, FINANCIAL STATUS OF THE ORGANIZATION, ETC. THE BONUS/INCENTIVE IS NOT CONTINGENT ON NET EARNINGS OR REVENUE. BONUS/INCENTIVE PAYMENTS FOR ALL THOSE LISTED ON FORM 990, PART VII, SECTION A, LINE 1 ARE NOTED ON SCHEDULE J, PART II. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609K62 2019-06-06 48860710 TO REFINANCE 2006, 2013, 2015 AND 2016 BONDS ISSUED 0 0 0 A 90287 48860710 854155 48006555 2019 1 0 1 1 A 0 0 0 0 0 0 1 A 1 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR OF THE BOARD, VICE-CHAIRS, SECRETARY, TREASURER, AND ONE ADDITIONAL TRUSTEE WHO IS NOT AN OFFICER WHO SHALL BE ELECTED BY THE BOARD AT THE ANNUAL MEETING FOR A TERM OF ONE YEAR. AT LEAST ONE MEMBER OF THE EXECUTIVE COMMITTEE SHALL BE A TRUSTEE WHO IS A RESIDENT OF WAVERLY HEIGHTS, LTD. THE EXECUTIVE COMMITTEE SHALL HAVE FULL AUTHORITY TO MANAGE AND CONTROL THE BUSINESS AND AFFAIRS OF THE WAVERLY HEIGHTS, LTD. BETWEEN MEETINGS OF THE BOARD, WITH ALL OF THE POWERS OF THE BOARD ITSELF, EXCEPT THAT IT SHALL NOT HAVE THE POWER OR AUTHORITY AS TO THE FOLLOWING: (A) THE CREATION OF OR FILLING OF VACANCIES IN THE BOARD; (B) THE ADOPTION, AMENDMENT OR REPEAL OF THESE BYLAWS; (C) THE AMENDMENT OR REPEAL OF ANY RESOLUTION OF THE BOARD; AND (D) ACTION ON MATTERS COMMITTED BY A RESOLUTION OF THE BOARD TO ANOTHER COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN REVIEWED BY THE CFO AND CONTROLLER. THE AUDIT COMMITTEE PERFORMS A FINAL REVIEW AND A THEN A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C WAVERLY HEIGHTS, LTD.'S CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY TO PROVIDE GUIDANCE TO GOVERNING BOARD MEMBERS. ALL NEW MEMBERS SIGN OFF ON THIS POLICY UPON APPOINTMENT TO THE BOARD. ANY POSSIBLE CONFLICT OF INTEREST ON THE PART OF THE GOVERNING BOARD MEMBERS IS REQUIRED TO BE TIMELY DISCLOSED UPON REALIZATION OF THE POTENTIAL CONFLICT TO THE OTHER MEMBERS OF THE BOARD AND MADE A MATTER OF RECORD WHEN THE CONFLICT BECOMES A MATTER OF BOARD ACTION. THE BOARD MAKES THE DECISION AS TO WHETHER A POTENTIAL CONFLICT IS AN ACTUAL CONFLICT. ANY GOVERNING BOARD MEMBERS HAVING A CONFLICT OF INTEREST SHALL NOT VOTE OR USE THEIR PERSONAL INFLUENCE ON THE MATTER, EVEN WHERE PERMITTED BY LAW. THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE, ABSTENTION AND THE QUORUM. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE CEO, OTHER OFFICERS AND KEY EMPLOYEES OF WAVERLY HEIGHTS, LTD. IS DETERMINED BY THE BOARD HUMAN RESOURCES COMMITTEE BASED ON THE RECOMMENDATIONS FROM AN INDEPENDENT CONSULTANT. THE CONSULTANT BASES THEIR INFORMATION ON SURVEY DATA FROM SIMILAR LIFE PLAN COMMUNITIES AND EXTERNAL DATA. ADDITIONALLY, ANY SIGNIFICANT ADJUSTMENTS FOR CHANGE AND ANNUAL ADJUSTMENTS ARE REVIEWED AND RECOMMENDED BY THE BOARD HUMAN RESOURCES COMMITTEE TO THE BOARD OF TRUSTEES. THIS PROCESS WAS REVIEWED AND APPROVED IN 2019. THE DELIBERATION AND FINAL DECISION WERE DOCUMENTED IN THE BOARD AND COMMITTEE MINUTES WITH SPECIFIC DETAILS DOCUMENTED IN CONFIDENTIAL EMPLOYEE FILES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF IMPLEMENTATION OF ASU NO. 2014-09 -40,464,184. LOSS ON EXTINGUISHMENT OF DEBT -1,752,631. WAVERLY CARE ASSOCIATES 1400 WAVERLY ROAD GLADWYNE PA 190351254 232655145 COMPANION SERVICES PA WAVERLY HEIGHTS LTD S 1705137 2004364 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1 WAVERLY CARE ASSOCIATES L 814261 FAIR MARKET VALUE WAVERLY CARE ASSOCIATES S 1702744 FAIR MARKET VALUE