2019-10-31T10:24:17-05:00 2018-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2018-01-01 232212842 WAVERLY HEIGHTS LTD WAVE 6106458600 1400 WAVERLY ROAD GLADWYNE PA 190351254 ROBERT L SUPPER SENIOR VP & CFO 6106458600 2019-10-30 1 SETH BRODY CPA P01586423 2156433900 67.137.57.251 2019-10-30 14:36:51 ED P 9EB2786B3EC6AF35018D7997716D9ABE495A2698 0FD4EF385CD5022A6BCA3F6D48F1B56E012374BF 2018 2020-03-31 21:24:44Z THOMAS P GARVIN 1400 WAVERLY ROAD GLADWYNE PA 190351254 41287770 0 X WWW.WAVERLYHEIGHTSLTD.ORG X 1982 PA TO PROVIDE SENIORS AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE & RESPECTFUL COMMUNITY 21 21 464 31 2155807 1403249 456942 494615 28080637 31657732 1220421 2934701 1860599 928511 31618599 36015559 28766 57676 0 0 14955902 16157207 0 0 0 15061255 17053568 30045923 33268451 1572676 2747108 146082860 153067051 129888558 137728892 16194302 15338159 WAVERLY HEIGHTS IS A NOT FOR PROFIT CORPORATION ESTABLISHED TO PROVIDE SENIORS AN EXCEPTIONAL LIFESTYLE WITHIN A COMPASSIONATE AND RESPECTFUL COMMUNITY. 0 0 16936907 57676 31657732 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. 16936907 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 1 159 0 464 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 21 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 SCOTT M JENKINS CHAIR 1.50 0.25 X X 0 0 0 DONALD R FLEISCHER VICE CHAIR 1.50 0.25 X X 0 0 0 STEVE KIRKPATRICK VICE CHAIR 1.50 0.25 X X 0 0 0 A GERALD RENTHAL TREASURER 1.50 0.25 X X 0 0 0 ROBERT ROBINSON SECRETARY 1.50 0.25 X X 0 0 0 ROBERT K BARRY TRUSTEE 1.50 0.00 X 0 0 0 GARY L BRAGG TRUSTEE 1.50 0.00 X 0 0 0 RICHARD E BAUER TRUSTEE 1.50 0.00 X 0 0 0 R MICHAEL BUCKLEY TRUSTEE 1.50 0.00 X 0 0 0 ANNE N CONROY 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 GERALD J HANSEN TRUSTEE 1.50 0.00 X 0 0 0 ANNE MARIE HEIL 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 ANITA A SUMMERS TRUSTEE 1.50 0.00 X 0 0 0 JOHN H BALL TRUSTEE 1.50 0.00 X 0 0 0 HOWARD BUZZARD TRUSTEE 1.50 0.00 X 0 0 0 DEBORAH WESSELLS TRUSTEE - LEFT OCT 2018 1.50 0.00 X 0 0 0 THOMAS P GARVIN PRESIDENT & CEO 45.00 0.00 X 512641 0 30054 ROBERT L SUPPER SENIOR VP & CFO 45.00 0.00 X 306150 0 29480 MEREDITH FEHER SENIOR VP HEALTH CARE SERVICES 45.00 0.00 X 229547 0 29301 PATRICIA RODGERS VP WAVERLY CARE ASSOCIATES 45.00 0.00 X 197774 0 23468 JANET THOMPSON VP MARKETING 45.00 0.00 X 183380 0 21397 MARC HEIL VP BUILDING SERVICES 45.00 0.00 X 161632 0 26464 LAUREN KELLEY VP HUMAN RESOURCES 45.00 0.00 X 127976 0 26430 JACQUELINE DONNELLY DIRECTOR OF NURSING 45.00 0.00 X 141737 0 10831 1860837 0 197425 13 0 1 0 WS CUMBY INC 938 LINCOLN AVENUE SPRINGFIELD PA 19064 CONSTRUCTION 6737690 LIBERTY BUILDERS 619 ELLIS ROAD HAVERTOWN PA 19083 CONSTRUCTION 1532678 REHABCARE 7733 FORSYTH BOULEVARD SUITE 1700 ST LOUIS MO 63105 HEALTHCARE 868977 SPATIAL CODE INC 28 MAY STREET SUITE A EDISON NJ 08837 TECHNOLOGY 748363 SYSCO PHILADELPHIA LLC PO BOX 6499 PHILADELPHIA PA 19145 DINING 588145 23 494615 6340 494615 RESIDENT CARE FEES 623990 16497674 16497674 SKILLED NURSING FACILITY 623990 5853277 5853277 AMORTIZATION OF DEFERRED REVENUE 623990 3327074 3327074 PERSONAL CARE 623990 2897010 2897010 MEMORY SERVICES 623990 1187978 1187978 1894719 1894719 31657732 2906911 1310867 1596044 83571 0 83571 83571 83571 5271501 28500 5272211 0 -710 28500 27790 27790 MANAGEMENT FEE 561000 844940 844940 844940 36015559 31657732 2155807 1707405 57676 57676 1137173 1137173 11144252 8099946 3044306 946671 946671 1997095 47699 1949396 932016 717536 214480 112257 112257 71630 71630 71065 71065 1640165 1473823 166342 130330 130330 602193 35728 566465 160354 160354 2998196 1358169 1640027 40944 10198 30746 15530 5605 9925 1555107 1555107 5168928 5168928 343040 343040 DINING SERVICES 1737091 1700817 36274 SUPPLIES 1557918 1443717 114201 MAINTENANCE & REPAIRS 848820 848820 33268451 16936907 16331544 0 1942698 1258667 4159563 4456979 9963590 6241433 68714 70461 850104 951232 165208233 67387933 91504170 97820300 32793025 35695024 3639139 3992061 1161857 2580894 146082860 153067051 5542881 5634023 80631094 83970627 42819281 47180578 895302 943664 129888558 137728892 X 15516305 14383490 607897 884569 70100 70100 16194302 15338159 146082860 153067051 X 2747108 -3769439 166188 X 0 1 X 1 0 X 300218 261815 233624 456942 494615 1747214 27346264 29012643 29932240 29922704 31657732 147871583 27646482 29274458 30165864 30379646 32152347 149618797 274000 100703 25000 288825 688528 0 274000 100703 25000 288825 688528 148930269 850470 254039 47314 339002 1679615 3170440 696030 747158 532107 908256 2154807 5038358 1546500 1001197 579421 1247258 3834422 8208798 1297103 2044697 3341800 30490085 32320352 30745285 31626904 35986769 161169395 0.92410 0.92970 0.05090 0.03610 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: FEES FOR SERVICES - 2014 AMOUNT: $ 1,297,103. 2015 AMOUNT: $ 2,044,697. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 677997 494615 217943 954669 457763 456942 236708 677997 480639 233624 256500 457763 452436 261815 233612 480639 547306 300218 395088 452436 0.00000 0.07340 0.92660 0 0 11505208 11505208 62809701 16587223 46222478 45371858 22439330 22932528 43659194 27892570 15766624 1862272 468810 1393462 97820300 RESIDENT DEPOSITS 943664 943664 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, 2018 OR 2017. 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 114106 0 0 0 0 0 0 114106 0 114106 0 0 1 0 0 0 1 MONTHLY MAINTENANCE FEE ASSISTANCE 1 57676 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 348132 0 142753 0 21756 0 0 0 30054 0 542695 0 0 0 ROBERT L SUPPER SENIOR VP & CFO 214297 0 79813 0 12040 0 0 0 29480 0 335630 0 0 0 MEREDITH FEHER SENIOR VP HEALTH CARE SERVICES 172391 0 57116 0 40 0 0 0 29301 0 258848 0 0 0 PATRICIA RODGERS VP WAVERLY CARE ASSOCIATES 139363 0 58371 0 40 0 0 0 23468 0 221242 0 0 0 JANET THOMPSON VP MARKETING 130873 0 52467 0 40 0 0 0 21397 0 204777 0 0 0 MARC HEIL VP BUILDING SERVICES 127482 0 34110 0 40 0 0 0 26464 0 188096 0 0 0 LAUREN KELLEY VP HUMAN RESOURCES 122936 0 5000 0 40 0 0 0 26430 0 154406 0 0 0 JACQUELINE DONNELLY DIRECTOR OF NURSING 124089 0 17558 0 90 0 0 0 10831 0 152568 0 0 0 PART I, LINE 1A THOMAS P. GARVIN, CEO: TRAVEL FOR COMPANIONS TOTALED $1,466, HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES TOTALED $9,464. 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 HIGHER EDUCATION AND HEALTH AUTHORITY 232447147 2014-02-01 11184057 TO REFINANCE 2006 BONDS ISSUED 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-09-03 5990000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 C MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-16 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 D MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 2013-08-01 10000000 TO REFINANCE 2009 BONDS ISSUED 0 0 0 A 3605349 11184057 11184057 2014 1 0 1 1 B 75000 5990000 5990000 2013 1 0 1 1 C 145000 10000000 10000000 2013 1 0 1 1 D 145000 10000000 10000000 2013 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 1 0 0 0 0 1 B 1 1 1 M&T BANK 8.300000000000 0 0 0 0 1 C 1 1 1 M&T BANK 8.300000000000 0 0 0 0 1 D 1 1 0 0 0 1 A 1 B 1 C 1 D 1 A GREEN LANE INDUSTRIAL DEVELOPMENT AUTHORITY 030602074 2015-12-22 10000000 TO FINANCE 2016 EXPANSION PROJECT 0 0 0 B GREEN LANE INDUSTRIAL DEVELOPMENT AUTHORITY 030602074 2015-01-29 5000000 TO FINANCE 2016 EXPANSION PROJECT 0 0 0 A 250037 10000000 153923 9846077 2018 0 0 0 0 B 105707 5000000 65937 4934063 2018 0 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 1 0 0 0 0 1 B 1 0 0 0 0 1 A 1 B 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 2018. 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: UNREALIZED NET GAIN ON OBLIGATION UNDER INTEREST RATE SWAP AGREEMENT 166,188. WAVERLY CARE ASSOCIATES 1400 WAVERLY ROAD GLADWYNE PA 190351254 232655145 COMPANION SERVICES PA WAVERLY HEIGHTS LTD S 1310867 1695646 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 844940 FAIR MARKET VALUE WAVERLY CARE ASSOCIATES S 1309275 FAIR MARKET VALUE