2019-10-11T14:49:19-05:00 2018-12-31 271728945 PKF O'CONNOR DAVIES LLP 500 MAMARONECK AVENUE HARRISON NY 105281633 990 2018-01-01 113277669 PECONIC LANDING AT SOUTHOLD INC PECO 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 ROBERT SYRON PRESIDENT/CEO 6314773800 2019-10-11 1 GARRETT M HIGGINS P00543209 9143818900 2019-10-11 65.51.112.58 2019-10-11 14:49:15 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9616F4B14A694591D1E716C270910E6FA5556DA3 2018 2020-03-31 21:24:44Z ROBERT SYRON 1500 BRECKNOCK ROAD GREENPORT NY 11944 40439845 0 4305 X WWW.PECONICLANDING.ORG X 1994 NY PECONIC LANDING STRIVES TO BE A PREEMINENT SENIOR SERVICES PROVIDER. GUIDED BY OUR CORE VALUES, AND PHILOSOPHY OF INNOVATION, WE ARE COMMITTED TO WORK IN PARTNERSHIP WITH ALL TO ACHIEVE OUR VISION. 14 13 385 134 0 0 1587572 818008 24603113 25164185 1338930 1275321 1965140 2256891 29494755 29514405 55188 25865 0 0 16779204 17397086 0 0 96721 14508716 14363505 31343108 31786456 -1848353 -2272051 147264913 150098466 181559213 188081437 -34294300 -37982971 X PECONIC LANDING STRIVES TO BE ONE OF THE PREEMINENT CONTINUING CARE RETIREMENT COMMUNITIES IN THE UNITED STATES. WE ARE ACHIEVING OUR GOALS BY OPERATING AS A PARTNERSHIP WITH RESIDENTS, BOARD OF TRUSTEES, MANAGEMENT AND STAFF. 0 0 25415456 25865 25164185 PECONIC LANDING, WE STRIVE TO BRING TOGETHER INDIVIDUALS OF ALL AGES AND ABILITIES BY SERVING AS A VIBRANT COMMUNITY CENTER AND CULTURAL ARTS HUB FOR THE EAST END. THROUGH OUR INNOVATIVE SOCIAL ACCOUNTABILITY PROGRAM, INDIVIDUALS CAN IMMERSE THEMSELVES IN A GREAT VARIETY OF CULTURAL, EDUCATIONAL, WELLNESS, AND HELPFUL OPPORTUNITIES AVAILABLE FREE TO THE PUBLIC THAT ARE DESIGNED TO INSPIRE AND ENGAGE. EACH EVENT IS HOSTED WITH THE PURPOSE OF ENRICHING THE LIVES OF THOSE WHO TAKE PART. OUR COMMUNITY DOES THIS WITH ONE COMMON GOAL IN MIND: TO MAKE A POSITIVE, MEASURABLE IMPACT, IMPROVING QUALITY OF LIFE FOR THOSE WHO WORK AND LIVE ON THE EAST END.(CONTINUED ON SCHEDULE O)THE FOLLOWING EVENTS TOOK PLACE IN 2018 FOR THE RESIDENTS OF PECONIC LANDING:*13TH ANNUAL JOHN MAY MILE & 5K RACE (TO SUPPORT THE GREENPORT FIRE DEPARTMENT)FOR THE 13TH YEAR, PECONIC LANDING CELEBRATED OLDER AMERICAN'S MONTH WITH OUR ANNUAL JOHN MAY MILE AND 5K RACE. WITH OVER 600 PARTICIPANTS, 100 LOCAL SPONSORS AND 200 VOLUNTEERS, THE EVENT RAISED $20,715 TO BENEFIT THE GREENPORT FIRE DEPARTMENT. OVER $259,715 HAS BEEN DONATED TO THE LOCAL FIRE DEPARTMENT OVER THE 13 YEAR HISTORY OF THE EVENT.*BRECKNOCK HALL ANNUAL VETERAN'S DAY WEDDING GIVEBACKFOR THE NINTH CONSECUTIVE YEAR, PECONIC LANDING WORKED WITH AREA BUSINESSES TO PROVIDE A WEDDING AT BRECKNOCK HALL FREE OF CHARGE TO A BRIDE AND GROOM (AT LEAST ONE OF WHICH) HAS SERVED OR IS IN ACTIVE DUTY IN THE US ARMED FORCES, KNOWN AS THE ANNUAL VETERANS DAY WEDDING GIVEBACK. THE COUPLE WAS SELECTED BY A PANEL OF PECONIC LANDING MEMBERS, FORMERLY CONNECTED WITH THE MILITARY. THE LUCKY COUPLE ENJOYED AN ALL-EXPENSES PAID WEDDING FOR 80 GUESTS DUE TO THE GENEROSITY OF PECONIC LANDING AND 30 LOCAL VENDORS. 25415456 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 18 0 385 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X ROBERT SYRON 6314773800 1500 BRECKNOCK ROAD GREENPORT NY 11944 SANDRA NOVICK CHAIRPERSON 1.00 X X 0 0 0 PAUL J CONNOR VICE CHAIR 1.00 X X 0 0 0 EDWARD WELLINGTON WEBB II SECRETARY 1.00 1.00 X X 0 0 0 GREGORY FERRARIS TREASURER 1.00 X X 0 0 0 ROBERT SYRON PRESIDENT/CEO 40.00 5.00 X X 439287 0 83300 ROSAMOND BAIZ BOARD MEMBER 1.00 X 0 0 0 REBECCA A CHAPMAN BOARD MEMBER 1.00 X 0 0 0 ROBERT GOLDMAN BOARD MEMBER 1.00 1.00 X 0 0 0 CAROL HANCE BOARD MEMBER 1.00 X 0 0 0 THOMAS MCCARTHY BOARD MEMBER 1.00 1.00 X 0 0 0 THOMAS DOOLAN BOARD MEMBER (THRU 12/2018) 1.00 2.00 X 0 0 0 DONALD T RUSSO BOARD MEMBER 1.00 2.00 X 0 0 0 CLAUDIA WARD BOARD MEMBER 1.00 X 0 0 0 EILLEN MCGUIRE BOARD MEMBER 1.00 X 0 0 0 PAUL MAY BOARD MEMBER 1.00 X 0 0 0 STEVEN CARROLL CFO (THRU 05/2018) 40.00 4.00 X 151473 0 35595 LISA QUINN DIRECTOR OF FINANCE 40.00 4.00 X 117610 0 51448 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 40.00 4.00 X 247590 0 71987 PATRICIA LUTZKY V.P. RESIDENT SERVICES 40.00 X 175774 0 42244 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 40.00 X 191311 0 52557 WILLIAM BJORNHOLM DIR. OF FINE DINING 40.00 X 153414 0 45835 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 40.00 X 146110 0 46482 LAURELLE CASSONE DIRECTOR OF MARKETING 40.00 X 129057 0 52987 DIANE BIANCULLI NURSE PRACTITIONER 40.00 X 123061 0 20497 1874687 0 502932 15 0 1 0 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 303536922 FOOD MANAGEMENT SERVICES 1273991 LOWE'S PO BOX 520954 ATLANTA GA 303530954 CONSTRUCTION SERVICES 1203218 GEORGE'S PAINTING INC PO BOX 229 PECONIC NY 11958 PAINTING SERVICES 265565 RESCOMM PHC INC 5925 SOUND AVENUE RIVERHEAD NY 11901 PLUMBING AND REPAIR SERVICES 239926 RATSEY CONSTRUCTION 67875 MAIN STREET GREENPORT NY 11944 CONSTRUCTION SERVICES 131836 8 20715 797293 818008 PRIVATE PATIENT REVENUE 623000 19480344 19480344 MEDICARE REVENUE 623000 2298193 2298193 ENRICHED HOUSING TRANSFER 900099 2214763 2214763 RENTAL REVENUE 531110 733275 733275 MEDICAID REVENUE 623000 437610 437610 25164185 688395 688395 189187 189187 38246 0 38246 38246 38246 11323179 10925440 397739 397739 397739 0 20715 0 0 REMARKETING FEE 900099 1368912 1368912 LATE FEES 900099 279950 279950 GUEST ROOM + MEALS 900099 169013 169013 400770 400770 2218645 29514405 25164185 0 3532212 25865 25865 1416309 1084287 329058 2964 49319 37757 11459 103 11486373 8793653 2668684 24036 248320 190107 57693 520 2846144 2178931 661257 5956 1350621 1033999 313796 2826 133265 133265 125391 125391 2071 2071 100523 100523 504399 447585 56814 292785 9909 282876 830951 563705 267031 215 174171 75942 98229 3511467 3328722 182745 34685 17512 17173 32200 15847 16353 805402 778447 26955 3960320 3797187 163133 143418 27817 115601 DIETARY SUPPLIES 1572555 1572555 PURCHASED AND CONTRACTE 707983 599048 108190 745 BAD DEBT EXPENSE 393593 393593 REPAIRS & MAINTENANCE 328367 326862 1505 709959 509719 140884 59356 31786456 25415456 6274279 96721 335874 1049371 9874257 9158159 2743372 3237363 333455 415984 73417 82292 1084908 1188310 87418707 37291200 51048650 50127507 55137709 55137709 26633271 29701771 147264913 150098466 3334428 4051247 7054320 7549954 43473061 43013308 17974445 21258608 109722959 112208320 181559213 188081437 X -35067138 -38972018 272838 489047 500000 500000 -34294300 -37982971 147264913 150098466 -2272051 -1416622 2 0 X X 0 1 X 1 0 X 505320 670859 1322552 1587572 818008 4904311 17565572 17687090 19277756 24603113 25164185 104297716 18070892 18357949 20600308 26190685 25982193 109202027 196265 25000 50 221315 0 196265 25000 50 221315 108980712 725595 795329 853179 864619 915828 4154550 725595 795329 853179 864619 915828 4154550 1219827 1355468 2238831 1943648 2218645 8976419 20016314 20508746 23692318 28998952 29116666 122332996 0.89090 0.88950 0.03400 0.04050 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISC INCOME - 2014 AMOUNT: $ 79,933. 2015 AMOUNT: $ 17,689. 2016 AMOUNT: $ 85,117. 2017 AMOUNT: $ 80,198. 2018 AMOUNT: $ 76,807. REMARKETING FEE - 2014 AMOUNT: $ 648,188. 2015 AMOUNT: $ 799,195. 2016 AMOUNT: $ 767,176. 2017 AMOUNT: $ 1,252,173. 2018 AMOUNT: $ 1,368,912. GUEST ROOM MEALS - 2014 AMOUNT: $ 91,028. 2015 AMOUNT: $ 116,630. 2016 AMOUNT: $ 122,466. 2017 AMOUNT: $ 145,266. 2018 AMOUNT: $ 169,013. LATE FEES - 2014 AMOUNT: $ 95,302. 2015 AMOUNT: $ 125,598. 2016 AMOUNT: $ 154,518. 2017 AMOUNT: $ 215,896. 2018 AMOUNT: $ 279,950. REAL ESTATE ASSESSMENT - 2014 AMOUNT: $ 39,660. 2015 AMOUNT: $ 41,058. 2016 AMOUNT: $ 41,324. 2017 AMOUNT: $ 40,936. 2018 AMOUNT: $ 39,163. PARKING INCOME - 2014 AMOUNT: $ 11,933. 2015 AMOUNT: $ 9,125. 2016 AMOUNT: $ 17,120. 2017 AMOUNT: $ 12,885. 2018 AMOUNT: $ 19,858. CONVENIENCE STORE - 2014 AMOUNT: $ 61,647. 2015 AMOUNT: $ 59,580. 2016 AMOUNT: $ 68,380. 2017 AMOUNT: $ 69,379. 2018 AMOUNT: $ 75,216. BEAUTY SHOP - 2014 AMOUNT: $ 19,406. 2015 AMOUNT: $ 24,291. 2016 AMOUNT: $ 16,706. 2017 AMOUNT: $ 15,519. 2018 AMOUNT: $ 16,180. TELEVISION INCOME - 2014 AMOUNT: $ 80,205. 2015 AMOUNT: $ 58,753. 2016 AMOUNT: $ 12,716. 2017 AMOUNT: $ 19,859. 2018 AMOUNT: $ 16,728. CAFETERIA INCOME - 2014 AMOUNT: $ 92,525. 2015 AMOUNT: $ 97,250. 2016 AMOUNT: $ 98,562. 2017 AMOUNT: $ 82,902. 2018 AMOUNT: $ 103,424. OPTIONS UPGRADES - 2015 AMOUNT: $ 6,299. 2017 AMOUNT: $ 8,635. 2018 AMOUNT: $ 6,248. ABATEMENT OF PROPERTY TAXES - 2016 AMOUNT: $ 854,746. INSURANCE SETTLEMENTS - 2018 AMOUNT: $ 47,146. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 2071 2071 0 PART II-B, LINE 1: COSTS ARE INCURRED AS PART OF DUES PAID TO NURSING HOME INDUSTRY ORGANIZATIONS. 0 1 X 501265 -1130 500135 500000 1265 501265 500000 500000 1.00000 0 0 11034275 11034275 58981094 25470744 33510350 17152710 11820456 5332254 250628 250628 50127507 INV. IN PECONIC LANDING HOUSING 55137709 C 55137709 ASSETS LIMITED TO USE 25912685 OTHER FINANCING COST, NET 852613 DUE FROM RELATED PARTIES 2225650 FUNDED PENSION COSTS 710823 29701771 REFUNDABLE DEPOSIT/ACCRUED INT 110566337 OPTIONS & UPGRADE LIABILITY 737576 BOND INTEREST PAYABLE 193584 DEFERRED COMPENSATION LIABILITY 710823 112208320 X 31601710 -1416622 6552488 5135866 26465844 100523 2948038 3048561 29514405 37830467 9092572 9092572 28737895 100523 2948038 3048561 31786456 PART IV, LINE 2B: THE ESCROW LIABILITY ACCOUNTS REPRESENT THE ESCROW TO BE USED TO PURCHASE ANOTHER COOPERATIVE UNIT IF THE RESIDENT CAN LIVE INDEPENDENTLY AGAIN OR BE PAID UPON A RESIDENT'S DEATH TO THE RESIDENT'S ESTATE, AS DIRECTED BY THE RESIDENT'S WILL. PART V, LINE 4: AN ENDOWMENT FUND WAS FORMED FOR THE BENEFIT OF THE MEMORY SUPPORT NEIGHBORHOOD. PART X, LINE 2: THE COMPANY FILES INFORMATION TAX RETURNS IN THE U.S. FEDERAL AND NEW YORK STATE JURISDICTIONS AND RECOGNIZE THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE COMPANY HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO DECEMBER 31, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 6,552,488. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 2,214,763. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 733,275. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES ATTRIBUTABLE TO CONSOLIDATED & RELATED ENTITIES 9,092,572. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRY 2,214,763. RENTAL REVENUE FROM AFFILIATE REPORTED ON PART VIII, LINE 2 733,275. 5K RUN 20715 20715 20715 20715 1 GREENPORT FIRE DEPARTMENT 236 3RD AVENUE GREENPORT NY 11944 113429066 VILLAGE OF GREENPORT 20715 GENERAL SUPPORT EASTERN LONG ISLAND HOSPITAL ASSOCIATION INC 201 MANOR PLACE GREENPORT NY 11944 111633563 501(C)(3) 5150 GENERAL SUPPORT 2 0 X X 1 1 X X X X 1 1 0 0 0 0 0 1 0 ROBERT SYRON PRESIDENT/CEO 315976 0 102375 0 20936 0 51203 0 32097 0 522587 0 0 0 STEVEN CARROLL CFO (THRU 05/2018) 113026 0 0 0 38447 0 21050 0 14545 0 187068 0 0 0 LISA QUINN DIRECTOR OF FINANCE 102517 0 15000 0 93 0 5090 0 46358 0 169058 0 0 0 GREGORY GARRETT EXECUTIVE VP - ADM. HEALTH 198654 0 30000 0 18936 0 27471 0 44516 0 319577 0 0 0 PATRICIA LUTZKY V.P. RESIDENT SERVICES 130395 0 24000 0 21379 0 24624 0 17620 0 218018 0 0 0 DARRYL VOLINSKI DIR. OF ENVIRON. SERVICES 155801 0 20000 0 15510 0 20901 0 31656 0 243868 0 0 0 WILLIAM BJORNHOLM DIR. OF FINE DINING 123925 0 19000 0 10489 0 14603 0 31232 0 199249 0 0 0 JANE WILLSEY DIRECTOR OF HUMAN RESOURCES 114691 0 20000 0 11419 0 14494 0 31988 0 192592 0 0 0 LAURELLE CASSONE DIRECTOR OF MARKETING 97080 0 20000 0 11977 0 16032 0 36955 0 182044 0 0 0 PART I, LINE 1A PECONIC LANDING AT SOUTHOLD, INC. MADE A TAX GROSSUP PAYMENT FOR THE DIRECTOR'S INSURANCE FOR THE FOLLOWING INDIVIDUALS: ROBERT SYRON, PRESIDENT & CEO, STEVEN CARROLL, CFO, GREGORY GARRETT, EXECUTIVE VP, DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES, PATRICIA LUTZKY, VP OF RESIDENT SERVICES, LAURELLE CASSONE, DIRECTOR OF MARKETING, AND JANE WILLSEY, DIRECTOR OF HUMAN RESOURCES, WILLIAM BJORNHOLM, DIRECTOR OF DINING SERVICES, LISA QUINN, DIRECTOR OF FINANCE, AND DIANE RADIGAN, DIRECTOR OF RESIDENTIAL SERVICES. PECONIC LANDING AT SOUTHOLD, INC. PAYS THE HEALTH CLUB DUES FOR ROBERT SYRON, PRESIDENT & CEO AND DARRYL VOLINSKI, DIRECTOR OF ENVIRONMENTAL SERVICES. THE AMOUNT OF DUES IS NOT INCLUDED IN THE INDIVIDUAL'S W-2. PART I, LINES 4A-B STEVEN CARROLL, CFO, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $18,028 INCLUDED IN HIS 2018 W-2. ROBERT SYRON, PRESIDENT & CEO, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. HE RECEIVED A EMPLOYER CONTRIBUTION ON HIS BEHALF IN THE AMOUNT OF $19,017 IN 2018. PART I, LINE 7 BONUSES WERE PAID TO VARIOUS OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES FOR ADDITIONAL RESPONSIBILITIES AND EXTRAORDINARY ACHIEVEMENT. THESE BONUSES WERE APPROVED BY THE BOARD AND AUTHORIZED BY THE PRESIDENT OF THE BOARD. A SUFFOLK COUNTY ECONOMIC DEVELOPMENT CORPORATION 273722095 86476RAD6 2010-12-08 29173331 REFUNDING 0 0 0 B SOUTHOLD LOCAL DEVELOPMENT CORPORATION 471450671 844584AL6 2015-03-05 20229958 REFUNDING 0 0 0 A 3690000 29445921 583467 1517448 28406165 183699 2010 1 0 1 1 B 20331168 404599 833369 18556340 975018 2015 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 1 1 0 0 1 GE CAPITAL CORPORATION 30.000000000000 1 0 1 B 0 0 1 1 0 0 0 0 1 A 1 B 1 STEPHEN LUTZKY FAMILY MEMBER OF KEY EMPLOYEE, PATRICIA LUTZKY 49319 EMPLOYMENT 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE MEETS WITH A DESIGNATED BOARD MEMBER WHO HAS BEEN ASSIGNED BY OTHER BOARD MEMBERS TO REVIEW THE FORM 990. THE FORM 990 IS PRESENTED TO THE DESIGNATED BOARD MEMBER AND THE FULL EXTENT OF THE FORM AND ITS PREPARATION IS EXPLAINED AT THE TIME. THE DESIGNATED BOARD MEMBER THEN REVIEWS AND APPROVES THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C IN THE EVENT A MEMBER OF THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC., OR THE MEMBER'S SPOUSE, CHILD, PARENT OR SIBLING, AS A RESULT OF A TRANSACTION, INVESTMENT OR ACTIVITY (HEREIN REFERRED TO AS A MATTER) WITH OR INVOLVING PECONIC LANDING AT SOUTHOLD, INC., PECONIC LANDING HOUSING ASSOCIATION COOPERATIVE, INC., PECONIC LANDING FOUNDATION, INC. (REFERRED TO IN THE AGGREGATE AS PECONIC LANDING) WILL RECEIVE ANY PROFIT OR GAIN, WHETHER DIRECTLY OR INDIRECTLY, THEN THE MEMBER SHALL PROMPTLY DISCLOSE THAT INTEREST TO THE BOARD AND SHALL NOT PARTICIPATE IN ANY DECISION ON SUCH A MATTER. THE MEMBER SHALL NOT VOTE ON, AND SHALL REMOVE HIM OR HERSELF FROM THE MEETING DISCUSSING SUCH A MATTER. THE MEMBER SHALL ALSO DISCLOSE ANY KNOWN SIGNIFICANT REASON(S) THAT SUCH A MATTER MIGHT NOT BE IN THE BEST INTERESTS OF PECONIC LANDING. THE MEMBER'S ABSTENTION FROM THE MEETING AND VOTE AND THE REASON FOR IT WILL BE RECORDED IN THE MINUTES OF ANY MEETING AT WHICH SUCH A MATTER OR MATTERS ARE DISCUSSED. EACH MEMBER IS REQUIRED TO SUBMIT AN ANNUAL DISCLOSURE STATEMENT AT THE BEGINNING OF EACH CALENDAR YEAR, AND WITHIN THIRTY (30) DAYS FOLLOWING THE EFFECTIVE DATE OF THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 PHILOSOPHY REGARDING EXECUTIVE COMPENSATION - THE BOARD OF TRUSTEES OF PECONIC LANDING AT SOUTHOLD, INC. SHALL HAVE THE SOLE RESPONSIBILITY FOR ESTABLISHING ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION. THE BOARD RECOGNIZES THAT IT IS CHARGED WITH ESTABLISHING A TOTAL COMPENSATION PACKAGE NECESSARY TO ATTRACT HE BEST TALENT POSSIBLE WHILE BEING FULLY COGNIZANT OF ITS FIDUCIARY RESPONSIBILITY TO THE ORGANIZATION. THE BOARD, THEREFORE, ASSURES THAT DECISIONS INVOLVING EXECUTIVE COMPENSATION SHALL BE REASONABLE AND MEET THE REQUIREMENTS FOR A TAX-EXEMPT ENTITY, WHICH ARE: (1) SHALL BE BASED ON RELIABLE MARKET COMPARABILITY DATA; (2) THE BASIS TO SUPPORT EXECUTIVE COMPENSATION SHALL BE DOCUMENTED; AND (3) ALL MATTERS RELATED TO EXECUTIVE COMPENSATION ARE MADE FREE FROM ANY DIRECT OR INDIRECT CONFLICTS OF INTEREST. COMPENSATION NEGOTIATION - THE BOARD OF PECONIC LANDING AT SOUTHOLD, INC. APPOINTS THE FINANCE COMMITTEE TO NEGOTIATE ON BEHALF OF THE BOARD ALL MATTERS OF EXECUTIVE COMPENSATION, INCLUDING BASE WAGE, INCENTIVES, BONUSES, MERIT INCREASES, PERQUISITES, AND BENEFITS. THE COMMITTEE SHALL HAVE THE AUTHORITY TO NEGOTIATE BUT SHALL MAKE NO WARRANTY ON BEHALF OF THE BOARD IN MATTERS RELATING TO COMPENSATION. THE FINANCE COMMITTEE SHALL PRESENT ITS RECOMMENDATIONS CONCERNING EXECUTIVE COMPENSATION TO THE BOARD IN WRITING, INCLUDING; (1) DATA OR SOURCES USED IN DETERMINING COMPENSATION RECOMMENDATIONS; (2) A REVIEW OF EXECUTIVE PERFORMANCE; AND (3) FULL DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. THE FINANCE COMMITTEE SHALL MAKE ASSURANCE THAT FINAL EXECUTIVE COMPENSATION RECOMMENDATIONS ARE INDEPENDENTLY APPROVED BY COMMITTEE MEMBERS ACTING ON BEHALF OF THE BOARD IN A NON-CONFLICT OF INTEREST POSITION. BASIS FOR EXECUTIVE COMPENSATION - TO ENSURE THE REASONABLENESS OF EXECUTIVE COMPENSATION, THE FINANCE COMMITTEE SHALL BASE AND DOCUMENT ITS RECOMMENDATIONS ON THE FOLLOWING CRITERIA: MARKET DATA COMPARISONS; FUNCTIONAL REQUIREMENTS OF THE POSITION; CURRENT MARKET TRENDS; REGIONAL ECONOMIC INDICATORS; EDUCATION, CAREER BACKGROUND AND EXPERIENCE OF THE PERSON IN THE POSITION. THE FINANCE COMMITTEE MAY SEEK ADVICE AND COUNSEL FROM EXTERNAL, UNRELATED SOURCES, INCLUDING BUT NOT LIMITED TO: MANAGEMENT CONSULTANTS, EXECUTIVE RECRUITERS; NATIONAL AND STATE ORGANIZATIONS SUCH AS AAHSA AND NYAHSA; SALARY RESEARCH RESOURCES AND DATA BASES; AND OTHER SOURCES WHICH MAY PROVIDE ACCURATE, RELIABLE, VERIFIABLE WAGE DATA. COMPENSATION CONCERNING INCENTIVES AND BONUSES SHALL BE BASED ON QUANTITATIVE PERFORMANCE CRITERIA APPLIED TO THE ACHIEVEMENT OF PRE-ESTABLISHED GOALS. MERIT INCREASES SHALL BE MADE AT THE DISCRETION OF THE BOARD BASED ON PERFORMANCE IMPROVEMENT OVER A SPECIFIED PERIOD OF TIME. BENEFITS, INCLUDING HEALTH INSURANCE, LIFE INSURANCE, VACATION AND OTHER TIME OFF, SHALL BE PROPORTIONATE WITH THE BENEFITS POLICIES AND PACKAGE IN EFFECT FOR LEADERSHIP PERSONNEL AT PECONIC LANDING AT SOUTHOLD, INC. ON THE EFFECTIVE DATE OF BOARD APPROVAL OF THE TOTAL COMPENSATION PACKAGE. DOCUMENTATION CONCERNING EXECUTIVE COMPENSATION - ALL MATTERS PERTAINING TO EXECUTIVE COMPENSATION MUST BE IN WRITTEN FORM. THE COMPENSATION DETERMINATION PROCESS WAS LAST UNDERTAKEN IN 2017. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION, FORM 990, FORM 1023, CONFLICT OF INTEREST POLICY, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR. BRECKNOCK HALL FOUNDATION 1500 BRECKNOCK ROAD GREENPORT NY 11944 200350364 FOR SUPPORT NY 501(C)(3) PF PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOME HEALTH SERVICES INC 1500 BRECKNOCK ROAD GREENPORT NY 11944 454566737 HOME HEALTH SERVICES NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 THE SHORES AT PECONIC LANDING ASSISTED LIVING RESIDENCE 1500 BRECKNOCK ROAD GREENPORT NY 11944 454977274 ASSISTED LIVING NY 501(C)(3) LINE 10 PECONIC LANDING AT SOUTHOLD INC 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP 1500 BRECKNOCK ROAD GREENPORT NY 11944 020575501 HOUSING ASSOCIATION NY PECONIC LANDING AT SOUTHOLD INC C 3746616 42289586 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 PECONIC LANDING HOUSING ASSOCIATION CO-OP A 733275 COST THE SHORES AT PECONIC ASSISTED LIVING RESIDENCE INC S 2214763 COST PECONIC LANDING HOME HEALTH SERVICES INC P 63521 COST FORM 990, SCHEDULE R, PART V, LINE 1A: PECONIC LANDING AT SOUTHOLD, INC. RECEIVED RENTAL INCOME, WHICH IS A SPECIFIED PAYMENT, FROM ITS CONTROLLED SUBSIDIARY. THESE PAYMENTS WERE MADE AT ARM'S LENGTH AND MEET THE FAIR MARKET VALUE STANDARD. RELATED PARTY TRANSACTIONS: ON NOVEMBER 28, 2000, THE COMPANY AND THE COOPERATIVE ENTERED INTO A LEASE AGREEMENT RELATED TO THE INITIAL 250 INDEPENDENT LIVING UNITS. UNDER THE TERMS OF THE LEASE, THE COMPANY AGREED TO LEASE A PORTION OF ITS REAL PROPERTY TO THE COOPERATIVE. IN ADDITION, THE LEASE SPECIFIES THAT THE COMPANY AGREES TO CONSTRUCT AND FURNISH ON THE REAL PROPERTY CERTAIN BUILDINGS, IMPROVEMENTS AND FURNISHINGS AND TO TRANSFER TITLE TO THESE SPECIFIED RESIDENTIAL IMPROVEMENTS FOR AND IN CONSIDERATION OF ALL AUTHORIZED AND UN-ISSUED SHARES OF THE COOPERATIVE. PURSUANT TO THE TERMS OF THE EXECUTED LEASE, THE COMPANY OWNS THE LAND, THE COMMUNITY CENTER, AND THE HEALTH CARE CENTER AND THE COOPERATIVE OWNS THE SPECIFIED RESIDENTIAL IMPROVEMENTS. THE LEASE TERM IS 99 YEARS AND THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT, NOT TO EXCEED AN ANNUAL RENT OF $675,000 IN ANY CALENDAR YEAR DURING THIS PERIOD. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. ON MARCH 15, 2015, THE COMPANY AND THE COOPERATIVE ENTERED INTO A SECOND LEASE AGREEMENT RELATED TO 46 ADDITIONAL INDEPENDENT UNITS ON A PORTION OF COMPANY'S LAND. THE LEASE TERM IS 99 YEARS AND IS TO BE AUTOMATICALLY EXTENDED FOR AN ADDITIONAL TERM OF 99 YEARS. THE ANNUAL RENT FOR THE INITIAL TEN YEAR PERIOD OF THE LEASE IS COMPUTED ON THE BASIS OF $225 PER MONTH PER OCCUPIED RESIDENTIAL UNIT. SUBSEQUENT TO THE INITIAL TEN YEAR PERIOD, THE COMPANY HAS THE OPTION TO ADJUST THE BASE RENT TO TEN PERCENT OF THE APPRAISED VALUE OF THE LAND. UNDER THE TERM OF THESE LEASES, THE COOPERATIVE WILL PAY PRO RATA SHARE OF ALL REAL PROPERTY TAXES AND SALES TAXES WITH RESPECT TO THE LEASED PREMISES, ASSESSMENTS, RATES, CHARGES AND OTHER COSTS OF OPERATION OF THE LEASED SPACE. THE COMPANY'S ONLY RESPONSIBILITY SHALL BE PAYMENT OF THE PRINCIPAL AND INTEREST OF THE MORTGAGE OF THE LEASED PREMISE. RENT PAYMENTS UNDER THESE LEASE AGREEMENTS FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017 WERE $733,275 AND $733,725. THESE LEASES PROVIDE THAT THE COOPERATIVE MUST USE THE PROPERTY ONLY FOR THE PURPOSE OF PROVIDING HOUSING TO MEMBERS WHO ENTER INTO CARE AGREEMENTS WITH THE COMPANY. THE COOPERATIVE DOES NOT HAVE THE RIGHT TO REMOVE THE RESIDENTIAL IMPROVEMENTS WITHOUT THE COMPANY'S PRIOR WRITTEN CONSENT. THESE LEASES MAY ONLY BE TERMINATED WITH THE APPROVAL OF THE NEW YORK STATE CONTINUING CARE RETIREMENT COMMUNITY COUNCIL, OR ITS SUCCESSOR STATE AGENCY. IN THE EVENT OF DEFAULT UNDER THE LEASE AGREEMENT, THE RESIDENTIAL IMPROVEMENTS VEST WITH THE COMPANY. LEASE AND SERVICES AGREEMENTS BETWEEN THE COMPANY AND THE SHORES IN AUGUST 2013 AND JUNE 2014, THE COMPANY ENTERED INTO A LEASE AGREEMENT AND A LICENSE AGREEMENT WITH THE SHORES WHEREBY THE COMPANY LEASED THE ASSISTED LIVING RESIDENCE PORTION OF ITS REAL PROPERTY TO THE SHORES AND LICENSED IT TO OPERATE THE ENRICHED HOUSING PROGRAM. PURSUANT TO EACH AGREEMENT, THE SHORES AGREED TO PAY THE COMPANY $1 ANNUALLY. ADDITIONALLY, UNDER THE LEASE AGREEMENT THE SHORES WILL PAY TO THE COMPANY ALL INCOME GENERATED FOR THE CARE OF RESIDENTS OF THE ENRICHED HOUSING PROGRAM AND ANY OTHER INCOME FROM ANY OTHER SOURCE. THE TERM OF EACH AGREEMENT IS 99 YEARS AND THEREAFTER CAN BE AUTOMATICALLY RENEWED FOR SUCCESSIVE TERMS OF 99 YEARS PROVIDED THE SHORES SHALL BE IN COMPLIANCE WITH TERMS AND CONDITIONS OF THE AGREEMENTS. IN CONJUNCTION WITH THE ABOVE AGREEMENTS, THE COMPANY ALSO ENTERED INTO A MANAGEMENT AND A MAINTENANCE AND SERVICES AGREEMENT WITH THE SHORES. PURSUANT TO THE TERMS OF THESE AGREEMENTS, THE COMPANY IS RESPONSIBLE TO PROVIDE OVERSIGHT, MANAGEMENT AND MAINTENANCE SERVICES TO ENSURE QUALITY OPERATION AND ADMINISTRATION OF THE ENRICHED HOUSING PROGRAM. THE TERM OF THE AGREEMENT IS FOR FIVE YEARS STARTING MAY, 2016 AND RENEWS EVERY FIVE YEARS UNTIL CANCELLED BY THE BOARDS OF THE COMPANY AND THE SHORES OR NYSDOH.